Lesbian, gay, bisexual and transgender (LGBT) individuals in Silicon Valley face a number of challenges when it comes to wealth and income equality. While the tech industry is often celebrated as a haven for people seeking creative freedom and opportunity, many LGBT people in the region report feeling isolated and alone in their efforts to secure fair pay and equitable treatment. In 2018, The Advocate named Silicon Valley the worst place on the planet to be LGBTQ+, citing high rates of poverty, violence, homelessness and lack of access to health care among its many issues faced by this marginalized community. To address these disparities, advocates
The lack of LGBTQ+-focused venture capital may be due to the reluctance of investors to identify as members of the LGBTQ+ community. This reluctance may be based on a fear that their identity could become public knowledge, or because they do not feel comfortable discussing such personal matters with potential financiers. Alternatively, it is possible that there simply are not enough investable opportunities out there for LGBTQ+ founders. Whatever the reasons, this barrier to accessing capital needs to be addressed if LGBTQ+ entrepreneurs are going to have any hope of becoming successful business leaders.
LGBT+ VC is a nonprofit organization that aims to support LGBTQ+ founders and investors allied with the cause. Launched by investors Tiana Tukes and Jackson Block, the nonprofit hopes to foster a new generation of inclusivity within the venture ecosystem by cultivating and educating investors to champion and accept LGBTQ+ founders and funders. By supporting marginalized groups, LGBT+ VC aims to help create more inclusive businesses that reflect the wants and needs of all people.
Venture capitalists typically target early-stage businesses, which often have low barriers to entry. This means that a business with a diverse and inclusive workforce is at a disadvantage when trying to get funding from venture capitalists. LGBT+ VC plans to run networking events, conferences and education classes for the LGBTQ+ community in order to help them become accredited investors and change the mindset of venture capitalists. By becoming more intersectional within their ventures, LGBT+ VCs will be able to better understand how different minority groups experience discrimination and create more inclusive environments for all entrepreneurs.
Many blockchain startups bill themselves as providing opportunities for “the everyday person” to become involved in the technology sector. Block wants to change that by increasing the number of investors who are directly involved in the companies. With this new structure, founders will have more access to experienced financiers with a deep understanding of blockchain technology and its potential applications.
Investors who are looking to get ahead in the market should focus their attention on LGBTQ-founded companies. Open AI is a great example of this, as the company is dedicated to advancing artificial intelligence for the betterment of all.
Since the shooting, Tukes and Block have been working hard to create a safe space for the LGBTQ+ community in Colorado Springs. Through their nonprofit, they aim to provide support and resources to those who may be affected by hate crimes or discrimination, as well as raise awareness about LGBTQ+ rights across the city. In addition to sponsoring events and fundraisers, Tukes and Block are also currently working on creating a Safe Space Resource Hub, which will contain information oncommunity resources such as counseling servicesand job placement programs.
The BlockVC venture capital firm was founded in early 2018, by Tiana Lee and Block. The firm is designed to address what they see as a major issue within the venture capital community – the lack of diversity. “It was really difficult to see the silence of the venture community,” Block told TechGround+. “Tiana and I came together, and we thought, ‘where can we make a difference?’.” The firm has set its goal as 50/50 female-male representation in their investments within three years.
According to Tukes, the LGBTQ+ community currently has a poor relationship with the tech ecosystem. However, their nonprofit’s goal is to change this by attracting investors and building relationships with larger tech companies. So far, they’re off to a successful start thanks to their strong network of allies.
According to the two investors, their nonprofit, Stonewall to Silicon Valley, is designed to change what it means to be a venture capitalist by building a network of allies from the tech industry. The summit in New York City will be their first step in this direction and they hope that it can serve as an opportunity for both existing and new venture capitalists to come together and share their experiences and advice.
In the interview, Mr. Zhang discussed how he applies machine learning to improve the efficiency of his business processes. He explained that by using Machine Learning models on historical data, he is able to identify patterns and make predictions about future events with increased accuracy. By doing this, Mr. Zhang is able to save time
We felt it was time to take the risk and launch our nonprofit because we have seen an overwhelming need for education and resources within the autism community. We know that we can make a difference by working together to provide educational resources, support groups, and advocacy.
Gen Z is a huge opportunity for LGBTQ+ businesses. This generation is diverse and open-minded, and they are looking for brands that embrace them. LGBTQ+ businesses that understand and appreciate Gen Z will be able to attract customers not only from the LGBTQ community, but from all across the spectrum.
Queer people are oftentimes marginalized and face systematic discrimination in all forms of life. This is a battle we have been fighting for quite some time, and we hope to see society move in a more inclusive way in the near future. We work together as allies – both within our own communities and within the larger LGBTQ+ population – striving to create positive change for everyone involved.
