Major Corporations and VC investors Are Giving Big In The Backlash Against Racism


Following weeks of massive protests across the country sparked by the murder of George Floyd some major heavyweights opened their vaults and pulled out major bucks for Black causes.

SoftBank quickly put together a $100m Opportunity Fund that will invest only in companies helmed by people of color.

The VC firm Andreessen Horowitz is giving 2.2m to founders from underrepresented and underserved backgrounds.

Bank of America is committing $1B over the next 4 years to addressing racial and economic inequalities.

Target is investing $10 million to support long‑standing partners like the National Urban League and the African American Leadership Forum, plus new partners in their hometown and across the country.

Goldman Sachs’ has a fund to back companies fighting for social justice is starting at $10m.

Niantic, Uber, DoorDash, and dozens of other tech companies are all pledging money toward fighting racism.

Wendys pledged $500k to the Thurgood Marshall College Fund and other social justice orgs.

Financial assistance is good and always appreciated. It sends the message that big corporations and large VC firms acknowledge there is a big racial problem in this country.

However, financial contributions are a bandage on a still heavily hemorrhaging social wound.

The big impact on racism by big business will come when the color of their upper management and boardrooms become equally diverse. The one-sided tilt in front line and line worker diversity has to be leveled. Compensation has to be equal for everyone regardless of race or gender.

For decades, people of color have been thrown crumbs and leftovers from every American right and opportunity. It’s high time they got a full slice of this American pie Whites have enjoyed all along.

Blacks as a people need more than a one time financial shower.

Blacks are deserving of an equality shower. A shower that’s going to cleanse from their lives, education and employment inequalities, lack of access to proper healthcare, rampant abuse and killings at the hands of law enforcement, and access to affordable housing.

I applaud those corporations for their financial support of small businesses and Black causes.

Now give us a seat at the table and join us in the fight to make some long time wrongs right.

After some of the largest and most effective protests since 1968 we cannot go back to the business of living as usual.

“It’s important that we don’t miss this moment and go back to business as usual” Keisha Lance-Bottoms – Mayor Atlanta Georgia

We deserve a whole piece of pie in every context.

5 thoughts on “Major Corporations and VC investors Are Giving Big In The Backlash Against Racism

  1. “Blacks as a people need more than a one time financial shower.”
    YES!
    Excellent post G!
    I’d just like to see corporations invest in early education and healthcare for blacks. It’s easy to donate to the UNCF or something like that. But what about segments of our population that are in need but aren’t in college yet, or have decided to go to a “technical school, or need assistance paying high dollar medical bills due to certain states failing to expand Medicaid.
    Don’t get me wrong, I am grateful for every bit of help and I don’t want to sound like I don’t appreciate it, I just want to see them put more thought into it–we need all the help we can get.
    P.S. Where’s your e-mail link, I’m doing something with music that I’d love to pull you into if you’re interested and have time.

    Like

    1. Thank you for the very informative comment. You are spot on regarding the undisputed need for early education and medical assets for Blacks. Fortune 500 companies definitely should channel some financial support to those areas.

      I thought my email link was visible on the site. I’ll send it to you. Anything you’re doing creative, you know I don’t want to miss.

      Liked by 1 person

      1. Will do. I didn’t want to be rude and just drop my email in your comments🤣
        I’ll be in touch shortly my friend. 🧚🏿‍♂️

        Like

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