Connect with us

Latest News

Serena Williams: Silicon Valley is wrong about Black women entrepreneurs

Published

on

My life story is one of breaking barriers and championing inclusion, on and off the court. Coming up in a predominately White male sport, I have been underestimated and underpaid throughout my career. Now, as a venture capitalist investing in early-stage startups, I see myself in the Black female founders who are often counted out right from the start.

The Black female founder begins her fundraising journey already down a match point. Black women face a unique set of challenges colored by misconceptions of both race and gender.

Investors notoriously doubt female founders, typically focusing investment analysis on the potential risks and losses of female-founded startups. They often assume that women-founded companies are more likely to fail. With male-founded startups, investors take a more optimistic approach, focusing on founders’ potential to capture market share and drive the accelerated growth necessary for massive financial returns. Meanwhile, Black founders contend with systemic inequity at each step of their journey.

Investors expect to see more traction from Black founders than their White counterparts, and will often question their technical expertise and market understanding.
Black female founders exist at the intersection of these challenges, making it exponentially more difficult for them to get the funding they need.
And then there’s the problem of the network effect.
To raise your first million, you need to raise your first check. That can be notoriously difficult. Entrepreneurs often turn to their friends and family to raise capital, a luxury reserved to those with wealthy networks willing to bet thousands of dollars on a person with a good idea.

Black women rarely have a wealthy network they can call upon for early investment. The average Black household had a net worth of $17,150 in 2016, nearly 10 times less than their White counterparts.
Black women don't get much startup funding. These founders are trying to change that
Black women don’t get much startup funding. These founders are trying to change that
Venture capitalists have a tendency to believe in — and consequently fund — founders who feel familiar and have the ‘right’ pedigree. In theory, this makes a lot of sense — “invest in what you know!” However, this attitude has created a landscape wherein White men receive an overwhelming majority of venture capital funds. Only 4% of the people who work in venture capital are Black, and only 3% of the people actually leading investments are Black, according to data from the National Venture Capital Association. Investing in people who look like you leads to systemic exclusion.

In 2018 and 2019, Black women founders raised only 0.27% of venture capital according to a data report by digitalundivided.
Without the network necessary to raise critical starting capital, most Black female founders close shop before their product even reaches the market.
By building exclusive spaces and systems, we are missing out on the innovation and genius of so many.
My firm, Serena Ventures, invests in early-stage entrepreneurs who often pitch us with just a vision.

When thinking through what role I wanted to play as an investor, funding early-stage ventures was a no-brainer. I look to support the dreamers and the visionaries of the future, while giving them the opportunity to capitalize on their genius.

Two incredible Black women in my portfolio include Crystal Evuleocha and Erin Carpenter. Evuleocha, who is a recent Forbes 30 Under 30 honoree, founded Kiira, a telehealth platform for collegiate women focused on addressing women’s health inequities — a cause I’ve long been passionate about.

Kiira’s AI-driven platform is staffed by health care providers who understand the gendered and racial nuances of health care, providing an empathetic and trustworthy voice in a field where Black women have been dismissed. Carpenter, the founder and CEO of Nude Barre, is tackling another form of inequity by shaping the fashion industry into one that is more inclusive.

Nude Barre makes intimate apparel for all skin tones, expanding the shades of nude to include consumers who are often overlooked. Evuleocha and Carpenter are a small fraction of one of the fastest-growing group of entrepreneurs in America.

Silicon Valley does not have a talent pipeline problem. It has a network selectivity and resource allocation problem. Venture capitalists should expand their network to include Black female founders and focus on hiring investors who have access to a more diverse network. We can no longer stay oblivious to how our homogeneous networks influence who we fund and who we hire. Lastly, we must extend the same thoughtfulness and consideration we give White male founders to all entrepreneurs.
I am by no means alone in my mission to build an inclusive venture capital landscape. The champions for Black female founders are here to stay. It’s time we all play on the same court.

Send me latest News

Hi , I'm Sola Olabintan the founder of World celebrities zone. My vision is to bring you an update on happening around the world. Update on Global news , politics ,Education , Entertainment , Sports , Gospel , Finance and every aspect of life.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

‘Too hard on him’: Paige Spiranac defends ‘insane’ Tiger Woods cheating scandal

Published

on

Instagram sensation and former golfer Paige Spiranac has defended Tiger Woods from the criticism he received after his infamous cheating scandal following the release of a new documentary.

Woods’ world came crashing down in 2009 when it was revealed Rachel Uchitel was just one of a number of mistresses for the golfing legend.

The saga prompted his marriage breakdown to Swedish model Elin Nordegren.

But further details of Woods’ love affairs have been revealed after the release of the two-part series on the golfer’s life.

This prompted former golfer, turned Instagram sensation, Spiranac to defend Woods from the fierce criticism he continually receives.

“Even when all this was happening, I think people were being too hard on him,” she said on her podcast Playing A Round with Paige Renee.

“You look at your own life and the things you’ve done, no one lives a perfect life, we all make mistakes.

“It’s not like he killed someone, he cheated. A lot of people cheat in their lifetime.

“Probably 99.9 percent of people have done something bad in their life.

“It’s not for people to sit on their couch and make him out to be a monster when I don’t think anyone could have handled that any better than he has.”

Spiranac went on to claim the spotlight Woods received in the wake of the scandal was “insane” and she believes he handled the situation well.

Woods’ agent slams documentary
Based off a biography written about the golfing legend in 2018, the documentary delves into many different parts of Woods’ complicated life – from his relationship with his late father Earl, his well-documented affairs and subsequent marriage breakdown, to the incredible career turnaround that culminated in a 15th major title at the 2019 Masters.

However, the golfer’s agent Mark Steinberg has slammed the documentary as just another “unauthorised and salacious” take on Woods’ life.

Send me latest News

Continue Reading

Latest News

The Humble Origin Of Roger Federer and His Major Achievement ; the greatest of all time

Published

on

Roger Federer is a Swiss Professional Tennis Player, he ranked No. 7 in the world by the Association of Tennis Professionals(ATP).

He has won 20 Grand Slam men’s singles titles, an all-time record shared with Rafael Nadal. Federer has been world No. 1 in the ATP rankings a total of 310 weeks – including a record 237 consecutive weeks – and has finished as the year-end No. 1 five times. Federer has won 103 ATP singles titles, the second-most of all-time behind Jimmy Connors and including a record six ATP Finals.

Federer has played in an era where he dominated men’s tennis together with Rafael Nadal and Novak Djokovic, who have been collectively referred to as the Big Three and are widely considered three of the greatest male tennis players of all-time.

A Wimbledon junior champion in 1998, Federer won his first Grand Slam singles title at Wimbledon in 2003 at age 21. In 2004, he established himself as the best player in men’s tennis by winning three out of four major singles titles and the ATP Finals,[d] a feat he repeated in 2006 and 2007.

From 2005 to 2010, Federer made 18 out of 19 major singles finals. During this span, he won his fifth consecutive titles at both Wimbledon and the US Open. He completed the career Grand Slam at the 2009 French Open after three previous runner-ups to Nadal, his main rival up until 2010. At age 27, he also surpassed Pete Sampras’s then-record of 14 Grand Slam men’s singles titles at Wimbledon in 2009.

Although Federer remained in the top 3 through most of the 2010s, the success of Djokovic and Nadal in particular ended his dominance over grass and hard courts. From mid-2010 through the end of 2016, he only won one major title.

During this period, Federer and Stan Wawrinka led the Switzerland Davis Cup team to their first title in 2014, adding to the gold medal they won together in doubles at the 2008 Beijing Olympics.

Federer also has a silver medal in singles from the 2012 London Olympics, where he finished runner-up to Andy Murray. After taking half a year off in late 2016 to recover from knee surgery, Federer had a renaissance at the majors. He won three more Grand Slam singles titles over the next two years, including the 2017 Australian Open over Nadal and a men’s singles record eighth Wimbledon title in 2017 later that year. He also became the oldest ATP world No. 1 in 2018 at age 36.

A versatile all-court player, Federer’s perceived effortlessness has made him highly popular among tennis fans. Originally lacking self-control as a junior, Federer transformed his on-court demeanor to become well-liked for his general graciousness, winning the Stefan Edberg Sportsmanship Award 13 times.

He has also won the Laureus World Sportsman of the Year award a record five times. Outside of competing, he played an instrumental role in the creation of the Laver Cup team competition.

Federer is also an active philanthropist. He established the Roger Federer Foundation, which targets impoverished children in southern Africa, and has raised funds in part through the Match for Africa exhibition series. Federer is routinely one of the highest-paid athletes in any sport, and ranked first among all athletes with $100 million in endorsement income in 2020.

Send me latest News

Continue Reading

Latest News

Srdjan’s Move Against Roger Federer has caused commotions among the Fans , see reactions

Published

on

Srdjan’s Move Against Roger Federer cause commotion among the Fans

Srdjan Djokovic’s action against Roger Federer and Rafael Nadal may not help his son to gain the heart of the fans, and may not even help his career. TENNIS fans on social media have opened up against Novak Djokovic Father , that his reaction may later affaect his son’s reputation.

After a 2020 full of sensational problems, such as the disqualification from the US Open and the disruption of the Adria Tour which cost many infections, Srdjan should tone down. Instead he has been the protagonist of a personal crusade against Roger Federer and Rafael Nadal for a year now, causing the Swiss and the Spaniard to continue.

Who, until now, as true gentlemen, have never responded to provocations. Nole should try to put a stop to the father’s tongue, trying to understand how much the parent is a problem for the public image of him in the eyes of the world.

Novak Djokovic won the Australians about a month and a half ago, where he beat the competition by taking home his 18th Slam title. Last season an episode inherent to the playing court: the sensational disqualification occurred to Novak Djokovic during his round of 16 match at the US Open immediately comes to mind.

Speaking as a guest on the television show B92 TV Dnevni Red, his father Srdjan Djokovic reiterated firmly that his son did not receive fair treatment in Flushing Meadows. The story is known: a shot from the Serbian accidentally hit a line judge and cost the elimination of the number 1 ATP.

That incident remained in the mind of the 33-year-old from Belgrade for a long time, as he saw the real opportunity to put another Grand Slam title on the table and get closer to the record of Roger Federer and Rafael Nadal.

Send me latest News

Continue Reading

Trending

Copyright © 2020 World Celebrities Zone. Designed by Sola Olabintan, Powered by Vira Multimedia House , Osogbo Osun State.

%d bloggers like this: