Here’s How to Propel 2 Million Black Americans to the Middle Class
CNN Business Perspectives
How Foundations Fail Diverse Fund Managers and How to Fix It
Printed Dec. 17, 2020. Foundations and impact investors need to face the ways they are complicit in perpetuating inequality through their capital allocations, and upend five structural investment barriers to better serve women and people of color. It’s time for foundations and other impact investors to face the truth. No more navel-gazing, no more conferring, …
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Business and Systemic Racism: The Next Step in a Long Journey
Last week, Sen. Tim Scott made headlines in his rebuttal to the President’s State of the Union address when he declared that “America is not a racist country.” As Gerald Seib wrote in the Wall Street Journal this week, Sen. Scott’s remarks-and the swift rebuttal from others on both sides of the aisle, including my good …
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Venture capital’s quest for diversity and equity remains a work in progress
Nearly a year ago, as the nation reckoned with the horrifying video of George Floyd’s murder in Minneapolis, Alejandro Guerrero, a general partner at early-stage venture capital firm Act One Ventures, sat alone at his home in Los Angeles, coming to terms with what he had just seen and bracing for the fallout. “All the …
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How private equity can catalyze diversity, equity, and inclusion in the workplace
Business leaders hear a lot about disruption. But 2020 redefined the term. By March, the novel coronavirus had completely changed ways of life and work for billions of people. In May, the death of George Floyd produced an equally seismic shift in cultural awareness of systemic racism and set in motion urgent calls for racial equity-globally. …
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We Must Address Power To Achieve Real Impact: A Letter to Peer Funders
Nathan Cummings frequently said that “nothing will ever be attempted if all possible objections must be first overcome.” That entrepreneurial guidance served us well in November 2017, when our Board took a major leap of faith to advance our mission of creating a more just, vibrant, sustainable, and democratic society. Breaking from foundations’ long standing …
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To expand the economy, invest in Black businesses
This article is from Brookings.edu. For the descendants of enslaved Africans in the United States, entrepreneurship represents more than just owning a business and pursuing the proverbial American Dream. Instead, the ability for Black people to participate in local, regional, and global markets represents a dream deferred by systemic racism and discrimination. Consequently, an analysis …
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It’s Time for a New Approach to Racial Equity
To see how companies continued their commitments below in 2021, we took an updated look at monetary commitments from November 1, 2020, to May 19, 2021, analyzing the announced financial commitments of more than 1,100 companies and philanthropic institutions. All in all, we found that during that time period, companies committed nearly $134 billion. Combined with …