For many of these VCs their investment was similar to investing in Theranos. The founders' story, and as controversial as it may be to say, their demographic, w

For many of these VCs their investment was similar to investing in Theranos. The founders' story, and as controversial as it may be to say, their demographic, was what was being invested in. Similar to how Elizabeth Holmes had money thrown at her for being a #girlboss, Ozy's CEO and COO were both "people of color". It's that last point that's been bandied about in social media a lot over the past few days, claims that the NYT is attacking a business because it's led by people of color. For instance the Ford Foundation, one of the company's investors, said: "in an increasingly diverse world, it's no wonder a company founded by people of color is so successful." This was after the NYT article. (source: https://youtu.be/1pE9yqE5yMk?t=314 https://youtu.be/1pE9yqE5yMk?t=314). These investors just wanted to increase the number of companies they're invested in that are from people of color, even if the business fundamentals aren't legitimate.