Venture capital has a diversity problem . BLCK VC , a new organization founded by Storm Ventures associate Frederik Groce and NEA associate Sydney Sykes to connect, engage and advance black venture capitalists, is ready for a new era in the industry. Their mission: Turn 200 black investors into 400 black investors by 2024. “We think of ourselves as an organization formed by black VCs for blacks VCs to increase the representation of black investors,” Sykes told TechCrunch. “You can look around and say well ‘I know five black VCs,’ but you can also say this firm does not have a single black VC, they may not even have a single underrepresented minority … We want to make firms reckon with the fact that there is a racial diversity problem; there is a lack of black VCs and every firm should really care about it.” BLCK VC has been at work since the beginning of 2018, building and expanding a network of black investors in the San Francisco area, Los Angeles and New York. They seek to provide a...
This time last week, Google employees held massive walkouts across the country to protest the company’s handling of sexual harassment in the wake of a damning New York Times piece . This morning, CEO Sundar Pichai sent a note to employees about the events that was also shared via the company’s blog . “We recognize that we have not always gotten everything right in the past and we are sincerely sorry for that,” the executive says in the letter. “It’s clear we need to make some changes.” The memo follows another recent letter, in which Pichai noted the termination of 48 employees for sexual harassment over the past two years. This latest letter also makes note of a private “action plan.” While not spelled out in its entirety, Pichai breaks down a handful of policy changes, including mandatory training for employees and the ways in which the company will handle sexual harassment claims going forward. Here are the bullet points, We will make arbitration optional for individual sexual ...