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SoftBank launches $100m minorities startup fund

reuters.com

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Re: SoftBank launches $100m minorities startup fund

#11

Post by sreeni_ananth »

Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

It would be more appropriate to have on a economy basis. Recently the Indian Government took this step to provide 10% additional reservation based on for the general category (forward caste people). There was huge outcry in the country from people belonging to the backward castes, but most of it came from political quarters. I think in general all people want is not to be left out rather than deny other people's rights.

Re: SoftBank launches $100m minorities startup fund

#12

Post by Thorentis »

somedude123 wrote: post #7
Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

> Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. Systematic racism is very much real in the United States, putting minorities at a disadvantage exactly because of the color of their skin - socioeconomic background and upbringing aside. Affirmative action, and presumably this effort by SoftBank, is intended to address that.

As far as I can see, this doesn't exist in the tech world (any more). Most Fortune 500 companies go out of their way to hire minorities, even if they are less qualified. Colleges do the same. Minorities are not disadvantaged purely for their skin color in the tech world. They are disadvantaged because of their worse financial/education situation. And my point is that these traits that effect people in tech are not limited to PoC.

Re: SoftBank launches $100m minorities startup fund

#13

Post by nostromo »

sillysaurusx wrote: post #10
Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

That's a valid stance. But reflect on why it matters to you. So what if someone is giving special opportunities to someone based on their skin color, or their gender? There are plenty of special opportunities to go around for all of us. I think you'll get a lot of flak for this sentiment. But I used to feel the same way as you. What helped me change my mind was to realize that no one is taking away opportunities from…

> So what if someone is giving special opportunities to someone based on their skin color, or their gender?

Because it’s racist.

Re: SoftBank launches $100m minorities startup fund

#14

Post by fiblye »

sadmann1 wrote: post #4

Trying to launder their reputation by using minorities as an excuse, shameful and transparent

These past few months have been endless blunders and bad news for SoftBank. They’re definitely not putting $100 million into a goodwill and equality fund. They’re putting 100 million into PR and advertising with the benefit of getting some returns.

But companies do this because they know it works, so I guess I can’t say it’s a dumb financial move.

Re: SoftBank launches $100m minorities startup fund

#15

Post by m-ee »

RcouF1uZ4gsC wrote: post #6

> SoftBank also runs the $100 billion Vision Fund, which is headed by Rajeev Misra and invests amounts larger than the entire new fund in startups around the world. Neither Rajeev Misra nor Masayoshi Son sound like “white” names. I find it fascinating how Asians in general are excluded from the term “people of color”.

The article never claimed Softbank leadership was white nor that Asian's are not people of color

Re: SoftBank launches $100m minorities startup fund

#16

Post by apendleton »

Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

> Aren't these the real reasons why people are disadvantaged?

No, or at least, not exclusively. There's tons of social science research in which, for example, two identical fabricated resumes were submitted for a battery of jobs, differing only by, say, a headshot of a black vs. white person, or a stereotypically-African-American name vs. a stereotypically white (or not-obviously-race-signaling) one. In these studies there are huge differences in response rates and callbacks, even when everything else about the resumes (educational attainment, experience, etc.). is identical.

It's true that many black people suffer structural disadvantages because of systemic lack of access to resources, etc. But they also suffer disadvantages because they're black.

Re: SoftBank launches $100m minorities startup fund

#17

Post by mkagenius »

Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

This is akin to the reservation system in India, which was amended to cater to this very problem by identifying "creamy layer"[1] who are higher income group coming from backward castes and they are not eligible for govt benefits.

1. https://en.wikipedia.org/wiki/Creamy_layer

Re: SoftBank launches $100m minorities startup fund

#18

Post by Thorentis »

sillysaurusx wrote: post #10
Thorentis wrote: post #2

Limiting initiatives like this based on skin color, implies that the reason for them needing help is their skin color. What about white people that come from low-socioeconomic backgrounds? Broken families? Didn't finish high-school? Abused as a child/teenager? Single parent family? Aren't these the real reasons why people are disadvantaged? People of all colors come from these backgrounds. I'm sick of the hypocrisy o…

That's a valid stance. But reflect on why it matters to you. So what if someone is giving special opportunities to someone based on their skin color, or their gender? There are plenty of special opportunities to go around for all of us. I think you'll get a lot of flak for this sentiment. But I used to feel the same way as you. What helped me change my mind was to realize that no one is taking away opportunities from…

> So what if someone is giving special opportunities to someone based on their skin color, or their gender?

Because if it is done for white people, or to men, it would be heavily criticised for being racist/sexist. I am purely advocating for consistency, and for tackling the real problems (education, socio-economic, familial, etc.).

I am sick of the corporate hypocrisy during COVID (we really care about you!), and we'll only see more of it with these new events (we love PoC more than anybody else!).

Re: SoftBank launches $100m minorities startup fund

#20

Post by kevindeasis »

Thorentis wrote: post #5
kevindeasis wrote: post #3

Earlier quoted context omitted.

It's nice that they're doing this, but I think they could increase their funding for minorities. We've seen them have bigger funds for vaporware that didn't really pan out I think we all know that all lives matter, but the point is that black lives are in danger thats why were saying black lives matter Ignoring specific subsets of systematic issues are synonymous with tone deafness

This initiative isn't about the BLM movement (though probably inspired by it given recent events). It's about closing the gap in terms of business opportunity. And my point is that there are many people of all colors who are disadvantaged because of educational background, family situation etc. I never see VCs or Fortune 500s doing much for them. Doesn't have the same clout in terms of social justice points. Using mi…

It's right there in the article: “Racism is a lamentable thing,” Son wrote on Twitter, ending his post with the hashtag #blacklivesmatter.

If you discount a subset of a systematic issue and paint it in a broader light, it doesn't portray an accurate picture.

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