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.