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Venture capital firms to include “diversity riders” in term sheets

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11–20 of 42 posts

Re: Venture capital firms to include “diversity riders” in term sheets

#11

Aside from arbitrary virtue signaling and moral grand standing, what's the point? $1 is $1 no matter which pocket it comes from. Also, this would be introducing discrimination based on immutable traits - two steps backwards there guys...

> $1 is $1 no matter which pocket it comes from.

For all the uproar about Chinese ownership of tiktok, zoom, etc etc, I suspect that your assessment is a minority opinion here.

Re: Venture capital firms to include “diversity riders” in term sheets

#12
post #11

Aside from arbitrary virtue signaling and moral grand standing, what's the point? $1 is $1 no matter which pocket it comes from. Also, this would be introducing discrimination based on immutable traits - two steps backwards there guys...

> $1 is $1 no matter which pocket it comes from. For all the uproar about Chinese ownership of tiktok, zoom, etc etc, I suspect that your assessment is a minority opinion here.

For sure, but that CCP $ isn't really what is at play here. Given the option to accept local investment vs. foreign in a competition, the entity receiving the cash would be able to make a choice based on their own values.

Anecdotally, British Columbia real estate is actively rejecting Chinese investment on similar grounds.

Re: Venture capital firms to include “diversity riders” in term sheets

#13

Huh. Looking at the headline, I had thought that this would mean, "we'll fund your startup, if you agree to meet these diversity hiring targets." But if I'm reading the article correctly, it actually means, "we, the VCs, will try to have more diversity among the people writing the checks."

To be a bit more cynical it seems to be saying something closer to "we want to look upstanding, so please go do the work for us because we couldn't diversify our own firm"

Re: Venture capital firms to include “diversity riders” in term sheets

#14

We need to stop introducing artificial racist/sexist affirmative action policies and instead stick to including people based on merit. The injection of this ideology everywhere is pernicious, unnecessary, and discriminatory.

Although hopefully becoming weaker over time, people still hold biases against different groups. Until these biases don’t exist it makes sense to be aware of them and try to correct

Re: Venture capital firms to include “diversity riders” in term sheets

#15
post #6

Earlier quoted context omitted.

We all carry biases, including towards/against groups we wouldn't expect to be biased towards/against. We probably all start with blank slates, but, unless you've had zero interactions with the outside world, you'd have to work actively to retain that blank-slate outlook. In aggregate, we run the risk of collectively creating various forms of systemic bias. We can test for these systemic biases (we have) and prove th…

> We can test for these systemic biases (we have) How do you propose testing this? Typically, a difference in outcomes is taken as evidence of systemic bias, but it isn't the same thing. For example, if one cohort commits more crimes, they are going to have more police interactions, more arrests, and so forth. But that's not a systemic bias. Unfortunately the recent "anti-racist" authors like Ibram Kendi have been pu…

There are many ways to conduct studies on bias. As a simple example, they can do things like send out identical resumes with different genders/races and see who gets called back. You can find a ton of these; here is a meta-analysis which looks at many such studies: https://www.pnas.org/content/early/2017/09/11/1706255114

Re: Venture capital firms to include “diversity riders” in term sheets

#16
post #6
post #5

I love how everyone uses throwaways in these comments because they know any deviation from the progressive-left line will get them cancelled! I’ll say it under my name - I’m completely old fashioned and probably racist / sexist / *-phobic whatever because I still agree with Martin Luther King that it is morally correct to judge someone by the content of their character rather than the color of their skin. I’m so tota…

We all carry biases, including towards/against groups we wouldn't expect to be biased towards/against. We probably all start with blank slates, but, unless you've had zero interactions with the outside world, you'd have to work actively to retain that blank-slate outlook. In aggregate, we run the risk of collectively creating various forms of systemic bias. We can test for these systemic biases (we have) and prove th…

> prove the existence/non-existence of said biases

No, you have not.

Re: Venture capital firms to include “diversity riders” in term sheets

#17
post #11

Aside from arbitrary virtue signaling and moral grand standing, what's the point? $1 is $1 no matter which pocket it comes from. Also, this would be introducing discrimination based on immutable traits - two steps backwards there guys...

> $1 is $1 no matter which pocket it comes from. For all the uproar about Chinese ownership of tiktok, zoom, etc etc, I suspect that your assessment is a minority opinion here.

If you drop all context sure. I'm sure no one here would take investment money from a resurrected Hitler, Narcos, or the Mob, but, since the discussion is about race, it's kind of an orthoginal point.

Re: Venture capital firms to include “diversity riders” in term sheets

#18
post #5

I love how everyone uses throwaways in these comments because they know any deviation from the progressive-left line will get them cancelled! I’ll say it under my name - I’m completely old fashioned and probably racist / sexist / *-phobic whatever because I still agree with Martin Luther King that it is morally correct to judge someone by the content of their character rather than the color of their skin. I’m so tota…

If you're going to try to be contrarian, at least do the research to do it well. You think you're being clever but you're showing no understanding of the positions you're trying to make fun of. As a result, you come across like a moron.

You should have used a throwaway, not because you have non-politically-correct views, but rather because you hold extremely strong opinions about something you can't even articulate credibly.

I looked up your twitter and saw this from March:

> Despite everything happening I’m still not worried. Corona is a bad flu and the markets will recover. I’m choosing to relax #CoronaOutbreak #relax

Similar confidence, similar ignorance.

Re: Venture capital firms to include “diversity riders” in term sheets

#19
post #17
post #11

Earlier quoted context omitted.

> $1 is $1 no matter which pocket it comes from. For all the uproar about Chinese ownership of tiktok, zoom, etc etc, I suspect that your assessment is a minority opinion here.

If you drop all context sure. I'm sure no one here would take investment money from a resurrected Hitler, Narcos, or the Mob, but, since the discussion is about race, it's kind of an orthoginal point.

It's not. Folks have ethics about who they take their money from. I agree, it's not the same, but a dollar isn't just a dollar. Who it's coming from, and what their ethics are, do actually matter.

In this case, I see that minorities are underrepresented in startups. Insomuch as it's all about who you know, there's strong reinforcement of systemic trends of enriching primarily white men. Diversity at the top unlocks hidden talent in their networks and overlooked markets, so picking folks to maximize cultural competency is kind of a no-brainer.

Re: Venture capital firms to include “diversity riders” in term sheets

#20
post #18
post #5

I love how everyone uses throwaways in these comments because they know any deviation from the progressive-left line will get them cancelled! I’ll say it under my name - I’m completely old fashioned and probably racist / sexist / *-phobic whatever because I still agree with Martin Luther King that it is morally correct to judge someone by the content of their character rather than the color of their skin. I’m so tota…

If you're going to try to be contrarian, at least do the research to do it well. You think you're being clever but you're showing no understanding of the positions you're trying to make fun of. As a result, you come across like a moron. You should have used a throwaway, not because you have non-politically-correct views, but rather because you hold extremely strong opinions about something you can't even articulate c…

A whole lot of words about how I’m a “moron” without refuting anything in the argument! A very typical stance to take from the progressive left. You clearly feel that you are morally superior to me!

Once again, I will state loudly and clearly - I view all people as what they are: people. You are not a series of identities to me. All people have their own agency and cannot be reduced to a set of labels.

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