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VCs Promised to Help Black Founders – My Experience Shows a Different Reality

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Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#41
She asks why her husband gets more of a response (a sign of the racism she is facing).

- Her linkedin doesn't show what her major was as an undergrad.

- After 4 years of working she was a powerlifting coach.

- Then boom, in 2017/2018 she is an owner of two gyms and in 2019 she is trying to get benchmark to invest in her app.

Her Husband:

Google Engineer

Masters in CS from Berkeley / Undergrad in CS

Started companies and managed employees.

15 years experience - 40 apps developed. Top 10 apps

Multiple successful exists (to zynga then another one to google).

Talking about being successful as a gym owner etc she says folks can assume its because black folks were helped out.

"They assume it’s because they’re somehow lucky or exceptional or that they gained success because of help from white people. This—of course—isn’t true, but it’s an idea that continues to spread, sending the message that Black professionals require help from white people to build their careers."

"We need to put an end to the lie that Black people are still in need of white folks’ help,” she continues. “What we need is the freedom to live, work, and act without white people and white institutions disproportionately targeting us and stopping us from building the success we are already capable of building on our own."

So it's a bit of a confusing set of messages.

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#42
post #38
post #36

Earlier quoted context omitted.

Traction etc don't matter to the point she's making. Her husband sent the same info as her and got response. She got radio silence. That's the point. Not whether or not the content was good.

Except that her experiment changed three variables: her husband is male and Asian and an ex-Google engineer, while she is none of those. So it's not possible to draw the conclusion that the difference in response comes only from race. (To be clear, I personally believe that race & gender do have an impact in the response from VCs, I just don't think her experience proves it.)

Of course she isn't, but that's the point. Black women are extremely underrepresented, hired and funded.

You can't say "well we're not going to fund you without a good track record, even though it's damn near impossible for you to build a track record because we won't fund or hire you. Good luck".

You can't say "we're going to fund more black founders, but only those who've already been proven a safe, reliable commodity."

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#43
The nature of VC being what it is, it's extremely difficult to prove racism at the level of proof that most HN readers seem to need. 99.99% of all startup ideas are bad, 99.99% of all apps are terrible, so how can we know if she was rejected for being black, or for just being another supplicant denied by the VC gods?

The email thing is the strongest evidence she provides, but obviously, a doubting mind can find other reasons that her husbands email would get responses but hers wouldn't.

We do know, however, that African Americans are greatly under represented in tech, in startups and in VC. There are many interlocking reasons for this, and its not unreasonable to expect that racism, whether conscious or unconscious, is one of them. (Why should tech, uniquely in American society, be immune from racism?). Because there are so many interlocking reasons, it's easy for each individual link in the chain of tech to deflect blame to the other links (business can blame the pipeline, colleges can blame the high schools, high schools can blame the financial structures etc etc etc).

So, is it reasonable to expect individual VCs to make a stand against racism instead of doing what comes naturally to them? (trying desperately to make money). Not really!

However, I do think it's reasonable to expect, that VC's who make big pronouncements about what their firm is going to do to combat racism should be expected to follow through with it! And guess what, given all the interlocking problems that prevent black people from founding companies, VC's probably aren't going to be able to follow through on that mission by relying on business as usual of warm intros only, five minute pitch reviews, blow off emails.

Just level with us. We are all adults. Just say, I'm not actually that interested in explicitly helping black founders, I just want to keep trying to make money the way I've been doing it. Conversely, if you do give juicy quotes to the press, then be prepared to walk the walk.

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#44

She asks why her husband gets more of a response (a sign of the racism she is facing). - Her linkedin doesn't show what her major was as an undergrad. - After 4 years of working she was a powerlifting coach. - Then boom, in 2017/2018 she is an owner of two gyms and in 2019 she is trying to get benchmark to invest in her app. Her Husband: Google Engineer Masters in CS from Berkeley / Undergrad in CS Started companies…

Ah, so they meant they're only going to invest in and help black founders who've already had some other VC take a chance on and are safe investments.

Got it. Someone else needs to actually "venture" and take a risk. You'll just sit back and tweet about how you'd love to help, but your LPs say it's too risky.

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#45
> Black women are the most educated group when you look at the number of associate and bachelor’s degrees earned within each demographic.

Can anyone confirm this? When I follow the links, I get to this source:

https://nces.ed.gov/fastfacts/display.asp?id=72

That bar chart doesn't say anything to me about inter-demographic data. It looks confined to each demographic; i.e. women earn more degrees than men within each demographic, but that doesn't say anything about Black women vs. White men vs. Hispanic men vs. White women

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#47
post #38
post #36

Earlier quoted context omitted.

Traction etc don't matter to the point she's making. Her husband sent the same info as her and got response. She got radio silence. That's the point. Not whether or not the content was good.

Except that her experiment changed three variables: her husband is male and Asian and an ex-Google engineer, while she is none of those. So it's not possible to draw the conclusion that the difference in response comes only from race. (To be clear, I personally believe that race & gender do have an impact in the response from VCs, I just don't think her experience proves it.)

But if there are hurdles to black women getting hired at places like Google, isn’t your explanation just passing the buck?

People aren’t happy with the status quo, where one of our most important and creative industries is nearly devoid of people who make up more than 1 in 10 Americans. In view of that, I don’t think it passes muster to say that “we don’t discriminate against black women, we just look for Founders in places that are nearly exclusively white/Asian.” Pipelines need to be reformed.

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#48
post #8

This post would be a lot more persuasive with the pitch deck, or some growth numbers, or something indicating the app is in fact on a success track and is the type of app that is potentially VC scale. I found no mentions on reddit. On google there is a single review on Capterra, no other results. The Canadian ios app has no reviews, can’t check US on my phone. The Google play version has 88 reviews, but all but 3-4 o…

The US reviews are very peculiar: https://apps.apple.com/us/app/the-bright-app/id1471800945?ls...

101 ratings with all but two being 5-stars. I hesitate to say that the positive reviews are largely fake, but it sure seems like it. Broken English and vague praise for the app characterize most of the reviews.

For example: "My friend recommended to me for experiencing this app. At the fist time, I didn't know this application could bring benefits to me. However, after all I use this app more frequently because its advantages. Very useful!"

What? Further, all 5-star reviews with the exception of one were written between 01/28/2020 and 01/30/2020. That leaves exactly three reviews of the 101 written outside this two-day window. Massive red flag.

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#49
post #42
post #38

Earlier quoted context omitted.

Except that her experiment changed three variables: her husband is male and Asian and an ex-Google engineer, while she is none of those. So it's not possible to draw the conclusion that the difference in response comes only from race. (To be clear, I personally believe that race & gender do have an impact in the response from VCs, I just don't think her experience proves it.)

Of course she isn't, but that's the point. Black women are extremely underrepresented, hired and funded. You can't say "well we're not going to fund you without a good track record, even though it's damn near impossible for you to build a track record because we won't fund or hire you. Good luck". You can't say "we're going to fund more black founders, but only those who've already been proven a safe, reliable commod…

[deleted]

Re: VCs Promised to Help Black Founders – My Experience Shows a Different Reality

#50

It seems like the author could search and replace “racism” with “sexism” and put out an otherwise similar article based on her experience having to use her husband’s LinkedIn rolodex to reach these people. I think it’s shameful that VCs make empty promises to support black founders - but it’s also not surprising. Most of the people paying lip service to racial equity now didn’t give a shit six weeks ago before it was…

The author seems clear to me that she is considering both racism and sexism. > Curiously, when I used my husband’s email to send our pitch, that’s when I started getting some responses. Do VCs only read pitches submitted by men? Do they prefer to hear from someone who is Asian rather than Black?

So she assumes bad faith but isn’t sure of the exact nature of that bad faith, meanwhile the merits of her pitch or business idea are not even a factor in her discussion of why she could have been rejected. (Let’s see, a personal trainer app when people are quarantined ...)

I’ve seen numerous other founders here on HN handle rejection with more humility and constructive resolve. I don’t think the author is doing herself - or her husband - any favors with this kind of response.

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