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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

#201
post #167

Earlier quoted context omitted.

> She is asking for a fair chance. Where is the evidence that she didn't get one? A fair chance is not a guarantee of funding.

Reading her email and responding, or downloading the app, would be some fair chances. There’s plenty of evidence in the article linked at the top of this page that that did not happen. Take a look.

> Take a look.

It baffles me that people constantly make this low-effort "read the article" remark as if (A) it's not explicitly against the rules here, and (B) it's impossible for two people to read the same article and draw different conclusions from it.

But I digress. I can put myself in the shoes of a VC for a second and know that based on a quick glance at the app's website and app store page, I wouldn't invest in it either. It's unoriginal, unlikely to be profitable, and the reviews are suspicious at best. No need to download it to see that.

Not reading or responding isn't unfair. VCs get inundated with proposals like hers. I'm a white guy who used to do freelance work. I've sent out hundreds of personalized cold emails to businesses looking for work, and got responses to maybe 5 of them, all of which were negative or "we'll keep your information on file". Maybe my sales pitch sucks. Maybe my portfolio sucks. Or maybe they just weren't interested in what I was offering. Maybe that's the case for her, too. Where's the evidence that either of us were treated unfairly? I am not entitled to anyone's time or money and neither is she.

Have we reached the point where not responding to a cold email is an act of bigotry? I myself get inundated with messages from recruiters. I respond only to the tiny fraction that are actually interesting and relevant to my skillset. It never even occurred to me to respond or not based on the gender or race of the recruiter. Does that make me a bigot?

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

#202
I'm on easy mode (white and male), but I had no network and no prestigious previous employers or schools to point to when starting on my company a few years ago. There were many points when I felt like raising money would be impossible, but I eventually did so. In case it might help someone who's feeling hopeless and has it much harder than I did due to their background, here are a few things I've learned about how the game is played:

- Talking to investors is a waste of time in the beginning. It's much better to focus on getting into an accelerator first.

- Never talk to one investor at a time. That gives them all the leverage. It's better to schedule many meetings with many different investors all in a one or two week period.

- Timing is everything. Don't talk to investors before you're ready to even if they say it's "just a casual coffee". They are looking for reasons to rule you out. Try to only talk to investors at inflection points where a graph of some important metric is going steeply up and to the right.

- Move on quickly. Unless an investor is obviously enthusiastic by the end of the first pitch, they are highly, highly unlikely to invest. Don't waste time answering their questions or getting their "feedback" or giving them additional meetings if they seem skeptical. Just move on to the next one.

- Don't ask for introductions from investors who turned you down. These are actually anti-endorsements that significantly decrease your chances with the investors you get introduced to this way.

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

#203
post #201

Earlier quoted context omitted.

Reading her email and responding, or downloading the app, would be some fair chances. There’s plenty of evidence in the article linked at the top of this page that that did not happen. Take a look.

> Take a look. It baffles me that people constantly make this low-effort "read the article" remark as if (A) it's not explicitly against the rules here, and (B) it's impossible for two people to read the same article and draw different conclusions from it. But I digress. I can put myself in the shoes of a VC for a second and know that based on a quick glance at the app's website and app store page, I wouldn't invest…

When you (the VC) say you want to help Black founders, and then do not respond to a Black founder while responding to a non-Black founder for the same product, then yeah, that is bigotry.

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

#204
post #199
post #194

Earlier quoted context omitted.

>Damore's memo was reasonable, accurate, and the criticism to it has been, like yours, entirely without substance. The Wikipedia article on Damore's memo lists a number of substantive criticisms[0]. For convenience, I'll list them here: This Vox article[1] gives a brief background of Damore's argument from biological essentialism. It references the general consensus that the premise (that cultural and sociological ge…

Starting with the first critique in your list of citations, the Vox article - third paragraph: > He uses primarily stereotyped misconceptions about men and women to argue that “gender gaps [do not always] imply sexism,” and declares that “discriminating just to increase the representation of women in tech” is “misguided and biased” as well as “unfair, divisive, and bad for business.” The question of stereotyping is a…

No. You cannot pepper a thread with demands for people to source their arguments and then confront a wall of sources with your own ad hoc thoughts. Source your rebuttals comparably. You set the bar, now clear it yourself.

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

#205
post #201

Earlier quoted context omitted.

> Take a look. It baffles me that people constantly make this low-effort "read the article" remark as if (A) it's not explicitly against the rules here, and (B) it's impossible for two people to read the same article and draw different conclusions from it. But I digress. I can put myself in the shoes of a VC for a second and know that based on a quick glance at the app's website and app store page, I wouldn't invest…

When you (the VC) say you want to help Black founders, and then do not respond to a Black founder while responding to a non-Black founder for the same product, then yeah, that is bigotry.

There were a hell of a lot of very relevant differences between the two founders, none which were their gender or race.

The product is garbage either way, but garbage being pitched by someone with a track record of accomplishment and success makes no sense, so that might pique my curiosity enough to respond and see if there's a reasonable explanation for a bunch of obviously fraudulent reviews. The same product pitched by some random person with no qualifications or experience can reasonably be assumed to be spam like many similar pitches VCs receive. Credibility matters. This should not come as a surprise to anyone.

And let's not forget that these people were from her husband's contact list. He very likely actually knows many of them. Of course they're going to open the email. I open emails from everyone I know in real life. It's rude not to, and I'm curious about what they want and what they're up to. I don't feel any such obligation or curiosity towards random strangers.

Do you honestly believe that a VC that pledges to help black founders is obligated to respond to every black founder who emails them, even when doing so will obviously be a waste of their time? Furthermore, do you believe a founder who is obviously engaging in deceptive practices to trick investors even deserves the respect of a reply?

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

#207

I'm so glad she wrote this, and that she named names! As a female founder (not black though), we went through a similarly congnitively dissonant process. A-List investors who would publicly talk about supporting female founders would behave the worst (esp. female investors, Hi Aileen!), investors whose entire brand was around supporting ethical startups (or insert any similar alternative movement) would be the least…

Problem is it's not the VC's job to help minorities. And even if one VC chooses to do so, they might make their fund less competitive compared to other funds.

We can make a simple law:

If a VC has to operate in US, they must reserve X amount for the minorities.

If VCs think it's unfair and that minorities are not good investment then VCs can figure out how to "uplift" the minorities by creating much needed programs and network for them.

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

#208
post #70
post #63

Earlier quoted context omitted.

Let's just refrain from going too far with any ambiguous quips at the product. I dont think anyone is going to gain from that.

But this is relevant. If both the product and her CV are weak, the racism card doesn't hold up. If I was deciding if I want to invest money in some app, I'm pretty sure seeing most of the reviews are poor quality fakes would be a lot more important factor than founders race.

You're mistaking the forest for the trees. You could go look at a handful of other funded apps and evaluate their reviews. You're going to find similar things.

My point was that you don't need to get into a more subjective, personal quip, as the arguments brought by others (eg. The CV) here are already strong enough to dismiss the racism claim.

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

#209
post #199

Earlier quoted context omitted.

Starting with the first critique in your list of citations, the Vox article - third paragraph: > He uses primarily stereotyped misconceptions about men and women to argue that “gender gaps [do not always] imply sexism,” and declares that “discriminating just to increase the representation of women in tech” is “misguided and biased” as well as “unfair, divisive, and bad for business.” The question of stereotyping is a…

No. You cannot pepper a thread with demands for people to source their arguments and then confront a wall of sources with your own ad hoc thoughts. Source your rebuttals comparably. You set the bar, now clear it yourself.

I haven't demanded anything of anyone, but for some reason you're telling me what I cannot do. Are you a moderator?

Where people have made scientific claims I've asked them for the source of their information. This is a reasonable question - not a "demand".

When someone replies to you citing another argument, it's reasonable to read that argument and to point out any flaws in it if you see them. That's what I did here. Was I not supposed to read it?

My argument doesn't rely on any citation other than Damore's memo itself, since it is the topic of discussion. I've already provided a link to that but here it is again for convenience: [1]

I followed the witch hunt against Damore very closely both at the time and since.

Without exception, every single critique I've read of Damore's memo is either a straw man, ad hominem, or a combination of both.

If you know of any counterexamples I'm happy to review them, but please pick the strongest argument rather than a long list[2]

[1] https://assets.documentcloud.org/documents/3914586/Googles-I...

[2] https://rationalwiki.org/wiki/Gish_Gallop

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

#210
post #209

Earlier quoted context omitted.

No. You cannot pepper a thread with demands for people to source their arguments and then confront a wall of sources with your own ad hoc thoughts. Source your rebuttals comparably. You set the bar, now clear it yourself.

I haven't demanded anything of anyone, but for some reason you're telling me what I cannot do. Are you a moderator? Where people have made scientific claims I've asked them for the source of their information. This is a reasonable question - not a "demand". When someone replies to you citing another argument, it's reasonable to read that argument and to point out any flaws in it if you see them. That's what I did her…

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