Silicon Valley billionaires are lining up to condemn racism. But the tech and VC industry has a shameful, decades-long history of ignoring and perpetuating inequality.
In memos to employees and public social media posts, Silicon Valley leaders voiced support for the call for social justice in the wake of the death of George Floyd in Minneapolis.
The venture capital and startup ecosystem is particularly lacking in diversity; just 4% of all venture firm employees and just 1% of all founders of venture-backed startups are black. These declarations — as impassioned and righteous as they are — ring a bit hollow. You see, for literally decades the tech industry has done little to address a systemic racial injustice that's much closer to home. More than 20 years after theto highlight the lack of diversity in tech boardrooms and campuses, black and Latino people are still a rarity in the tech industry.
The company has done only a slightly better job at employing Latinos. They comprised 7% of its leadership ranks and 8% of its tech workers, up 1 percentage point each from 2014.Blacks comprised just 3.7% of Alphabet's employeessent out a memo to employees pledging to match their donations
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