Month: August 2013

Discrimination in startups and entrepreneurship

I came across an old CNN video, featuring a famous tech blogger Michael Arrington  saying    ‘I don’t know a single black entrepreneur’,

a study published on CNN pointed out that the vast majority of top executives at the leading Silicon Valley tech firms are white men.

Women and Asians are less frequent but they have an ok presence, but African-American and Latino tech leaders remain a rarity.

And only 1% of entrepreneurs who received venture capital in the first half of last year are black.

This made me reflect on the status of financing when it comes to minorities, I have read an analysis that points out that some weak projects by white & Asian entrepreneurs get financed while much stronger projects with black founders are shunned.

I personally believe that “capital” is not racist, on the contrary, capitalists want to make more money and they won’t care even if you came from outer-space ….. but on the other hand stats don’t lie.

So why Black entrepreneurs and start-ups are shunned when it comes to funding!!

possible answers:

1- Connections : often the right connection is the #1 reason for funding, maybe black entrepreneurs are less connected to investors or share less connections with investors than other minorities /communities.

2- Stereotypes & Hollywood: maybe Latino & African Americans stereotypes trick the investors into thinking that if he invests in a Blacks / Latinos founded start-up he would have to deal with gangster style employees.

3- Better invest in what we know: another reason is that most investors being White, they may prefer to invest in a founder that they judge had a standard way of thinking, and that the other communities do not think the same way the investor do!

This just confirmed my original idea that Connections are the most important factor in an entrepreneur success, and that’s why i started Startupz a club to create connections between entrepreneurs

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Human population growth

Human population is growing with a terrifying speed, and what is more terrifying is that poor and less intelligent populations are expanding fast, while rich and developed populations are not growing!

from 1990 to 2010, the world added 1/3rd of it’s existing population.

The growth is championed by countries like India, Bangladesh, Pakistan , Nigeria ….

These poor countries are not able to sustain their existing populations, and thus the majority of population is poor and undereducated!

Why there’s no process to limit the population growth worldwide and in poor countries in particular..

if we continue on this route , the movie Idiocracy (2006) will become a reality!

Can’t poor countries understand that population fast growth is bad for their future?

Growth rates of the world’s most populous countries
Rank Country Population
2010
Population
1990
Growth (%)
1990–2010
7  Nigeria 158,423,000 97,552,000 62.4%
6  Pakistan 173,593,000 111,845,000 55.3%
8  Bangladesh 148,692,000 105,256,000 41.3%
2  India 1,224,614,000 873,785,000 40.2%
5  Brazil 194,946,000 149,650,000 30.3%
4  Indonesia 239,871,000 184,346,000 30.1%
  World 6,895,889,000 5,306,425,000 30.0%
3  United States 310,384,000 253,339,000 22.5%
1  China 1,341,335,000 1,145,195,000 17.1%
10  Japan 128,057,000 122,251,000 4.7%
9  Russia 142,958,000 148,244,000 -3.6%

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