- Mar 11, 2015
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"AMERICA" Whites First Legal, founded by Stephen Miller filed a lawsuit against the Fearless Fund citing discrimination against whites because the company targeted black business start-ups to provide venture capital. Now of course this goes to show. that right-wing whites don't GAD about blacks who take the initiative to provide help for the black community.
So let's look at some facts.
58% of the people who work in the venture capital industry are white men, the more important statistic is that white men control 93% of the venture capital dollars.
According to a 2019 report by James L. Knight Foundation, just 1% of the $70 trillion wealth management industry is controlled by women or minority fund managers, which often directly impacts the number of dollars invested in female and underrepresented founders.
www.forbes.com
So we see here that white men control 93 percent of the venture capital and that very little of that venture capital goes to black entrepreneurs. But Stephen Miller and Whites First claimed it is racism because the Fearless Fund was trying to get some of the 1 percent that non-whites get and give it to blacks. Again, this is where we have a problem among whites who dishonestly act as if white is not a race, and white men getting 93 percent of the venture capital and distributing it to other white men is racism.
So let's look at some facts.
Check Your Stats: The Lack Of Diversity In Venture Capital Is Worse Than It Looks
58% of venture capitalists are white men, 20% are Asian men, 11% are white women, 6% are Asian women, 2% are Black men, and 1% Black women, 1% are Latinx men, and nearly 0% are Latinx women.58% of the people who work in the venture capital industry are white men, the more important statistic is that white men control 93% of the venture capital dollars.
According to a 2019 report by James L. Knight Foundation, just 1% of the $70 trillion wealth management industry is controlled by women or minority fund managers, which often directly impacts the number of dollars invested in female and underrepresented founders.
Check Your Stats: The Lack Of Diversity In Venture Capital Is Worse Than It Looks
Scott Galloway is mostly spot-on in his dismantling of everything that’s wrong with Silicon Valley, Big Tech, Washington, politics, and the world in general—including the disturbing lack of diversity in venture capital. But it's worse than it looks.
www.forbes.com
So we see here that white men control 93 percent of the venture capital and that very little of that venture capital goes to black entrepreneurs. But Stephen Miller and Whites First claimed it is racism because the Fearless Fund was trying to get some of the 1 percent that non-whites get and give it to blacks. Again, this is where we have a problem among whites who dishonestly act as if white is not a race, and white men getting 93 percent of the venture capital and distributing it to other white men is racism.
