Viewpoint: Racial Bias in Investing? Just Look at the Data
Thursday, October 3, 2019
By Morgan Simon
“But I’m not a racist” is a constant refrain in Silicon Valley — a place where 91% of venture capitalists are men, 98% are white or Asian, and almost 90% of their funding goes to white-male led ventures.
It seems like if you buy the pint of vanilla ice cream over the chocolate pint 98 out of 100 times you walk into the grocery store, you might have some ingrained preference for vanilla, no? Maybe you think you have open taste buds, but if vanilla is on the front of the shelf, and it’s a brand you recognize, it’s just the easiest thing to pick up and move on with your day. You’re not looking to see if something else might be available, and equally or more delicious, hiding in plain sight. You’re moving on autopilot, and thus eating a lot of vanilla, whether or not it’s good for you. And that’s what’s most tragic about the status quo – it not only hurts those who aren’t getting chosen, but also the person doing the choosing.
Photo courtesy of Pui Shan Chan.