I just read an article about the struggles experienced by black tech entrepreneurs

[Ya?]

Of course, but its not like you can just wait on nonexistent black vcs with nonexistent capital. However, these are things that we can look to solve in future generations as long as we pass down the wealth, which is the most problack thing anyone can do in this entire world honestly.

Im not disagreeing with, you i just know where these guys are coming from. Im in silicon valley very often, i know the vibes

Black VC are not non-existent, there are there but not many, we need to leverage the few that do exist, to produce more. The shaming will only work for so long and people will go back to status quo.

There are wealthy black people all over the world, the issue is the mindset of our black elites and the amount of them who are willing to reinvest among their own.

Shaming Asian/White VC is a temp solution to more complex problem. It would not yield long term result if the previous is not handled at the same time.

 

[Nicole0416_718_929_646212]

Please let me know.

Fact is, black people need more leverage, we can shame these people all day long about their inherent biases but if we dont deal with increasing the visibility and viability of those in our in-group resources and interest in invest in black entrepreneurship this will continue to happen regardless.

We have to keep this in mind in these conversations. Multiprong issue with a multiprong solution. Besides whites VC, Asian VC are quite prominent and many of them fund their counterparts. Black people are largely at the mercy of other groups in every aspect of life, we need to tackle this problem as well.

Forget talking in generalities. You’re not saying anything that we don’t already know. In order to obtain power, you have to implement methods to take power away from those that control it so there is a more equitable distribution of resources. What’s your solution? Name details or specifics in how we accumulate funding within the community without going to the source first?

 

[Maude]

VCs will give Elizabeth Holmes a billion dollars cuz she has deep voice, even though they KNEW her product was scientifically impossible.

But let a breh come in with a deep voice wearing all black talking like the fukkin terminator and they might call security

How Elizabeth Holmes is still a free woman is crazy. The difference between her and a breh is they would've verified his claims day one.
Elizabeth Holmes was faking demonstrations and forging the documentation for years and no one questioned her.

 

[Nicole0416_718_929_646212]

It’s a multi prong issue, shaming other races for mistreatment of black people is 1 thing but we have also have to understand that a large part of black peoples problem is being at the mercy of other races for a lot of things.

We have to be more independent and self reliant on all aspect of life as well.

HOW. List the ways in which we can become more independent and self reliant. Anybody can talk this “we need to do better” bullshyt but never offer any proposals to achieve that. What are your suggestions since you seem to have all of the answers?

 

[Ya?]

How Elizabeth Holmes is still a free woman is crazy. The difference between her and a breh is they would've verified his claims day one.
Elizabeth Holmes was faking demonstrations and forging the documentation for years and no one questioned her.

Its unfair, but she is a white woman and now married into a rich family and the peple that catapulted are most likely White VC.

I dont get mad at these incidences anymore, I want to focus on my wealth so that I can become a VC myself and invest in black entrepreneurs.

 

[Jimmy from Linkedin]

Thing is, VC is a risky business in itself. There definitely is the need to be able to absorb costs and build at scale, but I wonder if there were ways to build smaller versions of the same digital products so things could start generating money from an earlier point before VC is necessary and or eliminating the need for VC? Often inventors will trade equity for the idea and when it doesn't perform to the ability that they agreed upon, the idea is absorbed into the VC's "assets" and shelved.

I have gathered this small understanding through some business learnings but I am definitely willing to learn more about it, especially if my ideas are off-base or wrong.

Is there a better way?

@Arbitrage! @Cynic since yall have big money experience and aren't in this thread

 

[Turbulent]

Your enemy will never have empathy for you. Your enemy will never be shamed because your enemy has no shame. The most you can expect from your enemy is pandering.

Capitalism is a weird game. I'm sorry, i have no solutions to offer. Coming up with the idea is the easy part. The hard part is scaling. Only thing I'm gonna say is encourage your kids to hold lemonade stands, to wholesale stuff, if you have a business, make them come with you on meetings with suppliers, contractors, break down the numbers with them. If you have family members who have businesses, ask them if your kid could help them out once in a while. Real estate, stores, whatever. Teach them about the different types of financing. Say they have a lemonade stand, offer them to "buy" a share of it in exchange of equity or offer them a loan with an interest rate. Make them do balance sheets, income statements, cashflow statements. Let them fail and get back up.

I just think teachong our kids to expect their enemy to do for them out of public shame is setting them up for failure.

As far as this generation, i really have no solutions or alternatives.

 

[Turbulent]

Thing is, VC is a risky business in itself. There definitely is the need to be able to absorb costs and build at scale, but I wonder if there were ways to build smaller versions of the same digital products so things could start generating money from an earlier point before VC is necessary and or eliminating the need for VC? Often inventors will trade equity for the idea and when it doesn't perform to the ability that they agreed upon, the idea is absorbed into the VC's "assets" and shelved.

I have gathered this small understanding through some business learnings but I am definitely willing to learn more about it, especially if my ideas are off-base or wrong.

Is there a better way?

@Arbitrage! @Cynic since yall have big money experience and aren't in this thread

only thing i would see is getting loans from banks or private lenders but even then you already have to be profitable most times.

 

[Originalman]

this is why black folk from all walks of life and backgrounds from GED/Work release to Masters and PHD need to work together and build as humanly possible

damn that college educated vs trades bullshyt, that's the divide and conquer cacery

these cacs skate by and lookdown on you whether you a sheet worker or you the damn president of the united states

All this

 

[Ya?]

Thing is, VC is a risky business in itself. There definitely is the need to be able to absorb costs and build at scale, but I wonder if there were ways to build smaller versions of the same digital products so things could start generating money from an earlier point before VC is necessary and or eliminating the need for VC? Often inventors will trade equity for the idea and when it doesn't perform to the ability that they agreed upon, the idea is absorbed into the VC's "assets" and shelved.

I have gathered this small understanding through some business learnings but I am definitely willing to learn more about it, especially if my ideas are off-base or wrong.

Is there a better way?

@Arbitrage! @Cynic since yall have big money experience and aren't in this thread

very insightful, would like to see more posts like this, think tanks to address these issues at our level, it would be much more helpful.

You seem to have some insight, please share more.

 

[Ya?]

Your enemy will never have empathy for you. Your enemy will never be shame because you're enemy has no shame. The most you can expect from your enemy is pandering.

Capitalism is a weird game. I'm sorry, i have no solutions to offer. Comung up with the idea is the easy part. The hard part is scaling. Only thing I'm gonna say is encourage your kids to hold lemonade stands, to wholesale stuff, if you have a business, make them come with you on meetings with suppliers, contractors, break down the numbers with them. If you have family members who have businesses, ask them if your kid could help them out once in a while. Real estate, stores, whatever. Teach them about the different types of financing. Say they have a lemonade stand, offer them to "buy" a share of it in exchange of equity or offer them a loan with an interest rate. Make them do balance sheets, income statements, cashflow statements. Let them fail and get back up.

I just think teachong our kids to expect their enemy to do for them out of public shame is setting them up for failure.

As far as this generation, i really have no solutions or alternatives.

what do you mean breh.

the breakdown is a huge solution, many black kids grow up not thinking about being their own boss, not being to hone their talent outside of the matrix.

I think of mbkhd, these types are so few among black kids not due to lack of talent but due to lack of push from black parents to let their kids get off teh beaten path.

Thats really good advice, I am going to use this for my own cousin and general family.

 

[Originalman]

Whats wrong with complaining? Its the first step in shaming, which is the beginning of getting things to change.

Most of us work for a white ceo somewhere at the top of our hierarchy. We know they look out for their own but we have laws and social pressures that make a company not wanna hire an all white staff.

There's never anythjng wrong with black people complaining about racism. Never

Yep no reason not to complain. Like i said in another thread you and I talked about. Many of these companies black folks support and some of these same companies get government funding (so that means black folks supporting them with their tax money).

So IMO if you financially supporting shyt then you have a reason to bytch. Thats one of the reasons for protests to get black folks government jobs in the 1930s and early 1940s. They were citizens based on the 14th admendment and paid taxes. So how is it they can't get government jobs like their white counterparts.

Keep in mind executive order 8802 was passed allowing blacks to not be discriminated for government jobs. Which helped create the black middle class in the 40s, 50s and 60s.

 

[MasterOfAllHeSurveyz]

That notion means you have a market of 35 million people..a very good place to start

Why do Black developers shun providing services for Black people exclusively and prefer running after the mainstream where they will be ostracized and discriminated against..quit trying to prove your worth to cacs..

Because, it's not sexy. Meanwhile, you see every day, in neighborhoods with only black people, millions being made by people who aren't black catering only to those black people.

 

[Ya?]

Yep no reason not to complain. Like i said in another thread you and I talked about. Many of these companies black folks support and some of these same companies get government funding (so that means black folks supporting them with their tax money).

So IMO if you financially supporting shyt then you have a reason to bytch. Thats one of the reasons for protests to get black folks government jobs in the 1930s and early 1940s. They were citizens based on the 14th admendment and paid taxes. So how is it they can't get government jobs like their white counterparts.

Keep in mind executive order 8802 was passed allowing blacks to not be discriminated for government jobs. Which helped create the black middle class in the 40s, 50s and 60s.

Complaining is one thing, but complacency in the complaining is anothe can of worms.

We are very vocal as a race and we know how to get people riled up, Black americans even more so. BUT we are complacent in other areas, which puts us in a one step forward and 10 steps back scenario.

What those people did in the 40-60s was a great push forward and I would never diminish their efforts, but the baton has been passed on and the strategy needs to change and be consistent and deliberate.

2 posters gave concrete advice and are creating a good discussion on tackling problem outside of shaming, which is in in every black persons control. Black need to be empowered not only victimized.

 

[Ya?]

Again, I am not saying not to complain or bring attention to these issues.

I am saying treat these issues knowing that any of the advances made that depend on people to be shamed/guilted to do the right thing will not last.

In the meantime, we need to empower ourselves leverage everything in our favor so we can get much further ahead so that if the rug is pulled, we have leverage, and can stand without falling to the ground again.

Which is why, interest in africa's development, pushing for black business to serve communities, changing how we raise our kids and teach them about capitalism and money, etc...need to be addressed simultaneously.

Pushing to have more financially literate people in black communities and dealing with parental absenteeism within black families will push this movement much further. Its all these things happening at the same time that will create the perfect storm, for real change to happen.