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In other news, larger corporations are more white-owned, and had the resources to wrangle the PPP loans. This is a case of small businesses not having the reso

In other news, larger corporations are more white-owned, and had the resources to wrangle the PPP loans. This is a case of small businesses not having the resources to acquire the loans in the first place. Mixing in race obfuscates and distracts from the real issue here. It should have been easier for small businesses and harder for larger ones to balance the scales.

aSplash0fDerp 6y ago
We actually have a snapshot on Youtube of personal wealth channels promoting PPP and EIDL during that window. You can see exactly who was stepping up with quality information and even sort/poll by race if thats your thing. It was being promoted as free money by some and many offered solid strategies for small businesses to make the 2nd cut and skip the lines.
- dpbriggs 6y ago
  Could you elaborate? I'm not quite sure what you're trying to say. Businesses are only concerned with ethics if it improves their bottom line. 'Free' money in uncertain times is an opportunity any business will seize if it has the means to obtain it.
  - aSplash0fDerp 6y ago
    I think this is the video that piqued my interest on March 28th. The "how-tos" and "what-is-its" spread like wildfire after that day. https://m.youtube.com/watch?feature=youtu.be&v=dwuUAGpWtlo https://m.youtube.com/watch?feature=youtu.be&v=dwuUAGpWtlo We are 15 days into SIP at this point. I do not need PPP/EIDL, but as a prior SBO, I followed this topic with interest. The quality of info was high and SB's had days and sometimes weeks notice on navigating the process. I read that CVT went on to make $300k a day on YT (somedays) by providing daily updates on stimulus, PPP, EIDL, etc, so the incentive was there to get the word out. If race is a factor, you'll find it was being discussed in their circles with the same delivery as Brian on YT. If not.. They should have picked a better accountant.
ugwigr 6y ago
I acknowledge there are other issues but I wanted to shed light on an issue (racial issues) I care about. Even if larger corporations are more white-owned it is worth noting the US Treasury is transferring wealth to White people
- dpbriggs 6y ago
  I appreciate you sharing the article, and shedding further light on these important issues. I personally don't see 'other' issues in this case, as this article describes a symptom and not a cause. The focus on race is at best a distraction from class, which is the real predictor on the ability to wrangle benefits from the government. > US Treasury is transferring wealth to White people I don't really interact with social media - why is white capitalized here? I'm not being facetious, just curious. And wouldn't the explanation here be that the vast majority of wealth is in pension / passive funds, which primarily invest in large corporations, which are the most capable to wrangle benefits? Racist policies in the past and current discrimination limit the aggregate capital of this group, and therefore they're under-represented as presented here. Obviously surveys are important but I worry that stating a conclusion allows leeway in choosing a hypothesis that fits personal bias and not reality.
  - ugwigr 6y ago
    - This article describes how the government PPP policy effectively discriminates against Black People - that is a problem in my view - once again there could be other problems. - 'White' is capitalize cause as used it represents a racial identiy, please see https://www.theatlantic.com/ideas/archive/2020/06/time-to-capitalize-blackand-white/613159/ https://www.theatlantic.com/ideas/archive/2020/06/time-to-ca... - The article is not attempting to establish an "intent" to discrminate so it is irrelevant if Black people are underrespresented as owners of eligible companies. The article is only showing the policy does effectively discrminiate (whether as an intended or unintended consequence).

aSplash0fDerp 6y ago

We actually have a snapshot on Youtube of personal wealth channels promoting PPP and EIDL during that window. You can see exactly who was stepping up with quality information and even sort/poll by race if thats your thing. It was being promoted as free money by some and many offered solid strategies for small businesses to make the 2nd cut and skip the lines.

dpbriggs 6y ago
Could you elaborate? I'm not quite sure what you're trying to say. Businesses are only concerned with ethics if it improves their bottom line. 'Free' money in uncertain times is an opportunity any business will seize if it has the means to obtain it.
- aSplash0fDerp 6y ago
  I think this is the video that piqued my interest on March 28th. The "how-tos" and "what-is-its" spread like wildfire after that day. https://m.youtube.com/watch?feature=youtu.be&v=dwuUAGpWtlo https://m.youtube.com/watch?feature=youtu.be&v=dwuUAGpWtlo We are 15 days into SIP at this point. I do not need PPP/EIDL, but as a prior SBO, I followed this topic with interest. The quality of info was high and SB's had days and sometimes weeks notice on navigating the process. I read that CVT went on to make $300k a day on YT (somedays) by providing daily updates on stimulus, PPP, EIDL, etc, so the incentive was there to get the word out. If race is a factor, you'll find it was being discussed in their circles with the same delivery as Brian on YT. If not.. They should have picked a better accountant.

ugwigr 6y ago

I acknowledge there are other issues but I wanted to shed light on an issue (racial issues) I care about. Even if larger corporations are more white-owned it is worth noting the US Treasury is transferring wealth to White people

dpbriggs 6y ago
I appreciate you sharing the article, and shedding further light on these important issues. I personally don't see 'other' issues in this case, as this article describes a symptom and not a cause. The focus on race is at best a distraction from class, which is the real predictor on the ability to wrangle benefits from the government. > US Treasury is transferring wealth to White people I don't really interact with social media - why is white capitalized here? I'm not being facetious, just curious. And wouldn't the explanation here be that the vast majority of wealth is in pension / passive funds, which primarily invest in large corporations, which are the most capable to wrangle benefits? Racist policies in the past and current discrimination limit the aggregate capital of this group, and therefore they're under-represented as presented here. Obviously surveys are important but I worry that stating a conclusion allows leeway in choosing a hypothesis that fits personal bias and not reality.
- ugwigr 6y ago
  - This article describes how the government PPP policy effectively discriminates against Black People - that is a problem in my view - once again there could be other problems. - 'White' is capitalize cause as used it represents a racial identiy, please see https://www.theatlantic.com/ideas/archive/2020/06/time-to-capitalize-blackand-white/613159/ https://www.theatlantic.com/ideas/archive/2020/06/time-to-ca... - The article is not attempting to establish an "intent" to discrminate so it is irrelevant if Black people are underrespresented as owners of eligible companies. The article is only showing the policy does effectively discrminiate (whether as an intended or unintended consequence).