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The venture community is not taking Edward Blum’s lawsuit against Fearless Fund quietly: This week, 70 venture funds—many founded and led by Black female general partners—released an open letter denouncing Blum’s arguments that grants and funds dedicated to Black women constitute reverse racism.
“Over $288 billion of venture capital was deployed in 2022, with an estimated 0.41% share invested in Black women founders,” the letter reads. “This approach to twist efforts to counter the impacts of racial and gender discrimination as harmful to women of color is not only transparent, unoriginal, and unconvincing, but it also unjustly targets Black women while threatening the civil rights of all women.”
The organizers of the letter—Shila Burney at Zane Ventures, Kimberley Nixon at Open Venture Capital and Tessa Flippin at Capitalize VC—aren’t stopping there. They recognize the “chilling effect” this lawsuit could have on the investment community, and are organizing experts to support funds with DEI lenses. “We will not be deterred from our work, and we will continue to find new pathways to economic freedom for women, women of color, and most notably for Black Women,” they say.
Cheers!
Maggie
Featured Story: The War Over Work From Home: The Data CEOs And Workers Need To Know
People on both sides of the remote work debate have dug in with almost spiritual zeal, but what does the data say? Forbes Senior Editor Jena McGregor found that while some data may seem to support concerns that some executives have, like the effect on worker productivity, other research suggests the opposite: converting saved commute times into more work hours, retaining workers with child or eldercare needs who need flexibility and making it easier to build diverse workforces when hiring isn’t constrained by geography. Read more.
ICYMI: News Of The Week
The South Carolina Supreme Court upheld the state’s six-week abortion ban Wednesday in a 3-2 ruling—after previously striking down a similar ban months earlier—putting the ban into effect and further cutting off access to abortion in the South following the overturning of Roe v. Wade.
Speaking of abortion access: New research shows that companies that offer travel reimbursement benefits for abortion care have seen an almost 8% increase in interest in job postings. This research also showed that male employees at these companies, however, have more negative views of these benefits.
When Fran Katsoudas applied for a job at Cisco, she showed up to the wrong interview. And yet, it worked out: 27 years later, she’s now the company’s Chief People, Policy & Purpose Officer. Katsoudas spoke with Forbes about how she structures her job, the role that an executive coach plays in her life and her views on the changing demands on leadership.
In the new culinary series Searching for Soul Food, now streaming on Hulu, celebrity chef Alisa Reynolds explores what soul food looks like in and out of the diaspora. “While the roots of soul food lie in historical challenges, its essence can transcend those boundaries,” says Reynolds.
British nurse Lucy Letby was sentenced to life in prison with no parole on Monday. She was found guilty of murdering seven newborn babies and the attempted murder of six others, and is considered Britain’s most prolific serial killer of modern times.
The Checklist
1. Experiment with LinkedIn features. The networking platform has features that, if fully taken advantage of, can help you establish your personal brand, catapult your career and thought leadership within your industry, and bring opportunities your way. Check them out.
2. Nurture your creative side at work. In a survey conducted by the World Economic Forum, 90% of business leaders highlighted the importance of creativity in remaining competitive. Here’s exactly how to do that.
3. Recognize whether loss aversion is holding you back. If something about your status quo doesn’t feel quite right, but you’re afraid to make a change because it’s not exactly wrong, either, check out this post on how to confront the fear of the unknown.
The Quiz
Just one player managed to score in the Women’s World Cup final, securing the victory for their country for the first time. Who scored the decisive goal?
- Spain’s Ivana Andrés
- England’s Ella Toone
- Spain’s Olga Carmona
- England’s Georgia Stanway
Check if you got it right here.
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