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Class is a problem, but the class issue isn't "poor Black kids from broken homes" (to quote some comments here) vs upper middle class FAANG employees and MIT gr
by Impossible 6y ago
Class is a problem, but the class issue isn't "poor Black kids from broken homes" (to quote some comments here) vs upper middle class FAANG employees and MIT grads. Being poor and uneducated is a barrier to being an employee in tech, but it's not the only barrier to getting funding. Anyone that can leetcode can get a job in tech. Raising requires a strong network, involves quite a lot of signaling and bias and gut feeling.
You have to be rich for class to be a major advantage when starting a startup, middle class isn't enough unless you're willing to expose yourself to a lot of personal risk. For various reasons middle class Black people with the skills to start a startup are more risk averse than white counterparts. For other reasons those same Black people get less funding than counterparts of other races.
I say this as a Black engineer from a middle class background that has been a founder, worked at FAANG and personally knows many Black founders that tried to bootstrap and failed to raise, even with strong pitches and profitable products. It's possible that these companies are fundamentally worse than all white founded companies that raise, but I rarely see Black people given a chance to fail. Class is not the only issue and it's not the main barrier for most Black people.
- imtringued 6y agoA lot of investors aren't actually interested in profitable products. Companies get over funded to the point where it is impossible to make a return by simply offering a product.