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It’s hard to believe that we’re already in mid-January, and on Monday, many will be observing Rev. Dr. Martin Luther King, Jr. Day. We hope everyone can find a way to celebrate the national day of service in honor of the African American civil rights leader and Nobel Peace Prize winner.
As our team reflects on the 54 years since Dr. King’s assassination, it’s clear that we, as a society, have a long way to go. While focused on just one area ripe for improvement, the latest interview on Bloomberg from Mellody Hobson is an excellent reminder of all that still needs to be done in the boardrooms and C-suites of America. We highly recommend watching for insight into how to bring more diverse people and perspectives into the rooms where key decisions are made.
In the true spirit of Breaking Good, we also wanted to highlight one news item from this week that gives us hope. JUST Capital released their 2022 JUST 100 list. This roundup shines a light on companies embracing stakeholder capitalism and the importance that consumers and investors place on business behavior. The companies that earned JUST Capital’s highest ranking showed the value of adopting this mindset.
In fact, the companies that made the JUST 100 list were 7.6 times more likely to disclose data on race and ethnicity in their workforces and 6.8 times more likely to disclose pay gap analysis results than all the other companies ranked (while delivering higher returns and dividends).
As Paul Tudor Jones said on CNBC, the JUST Capital report is yet another reminder that “Being just and being in line with America’s views of what is just is great business.”
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"Our lives begin to end the day we become silent about things that matter."
— Rev. Dr. Martin Luther King, Jr.
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| Meet the Women of Venture Capital |
| Business Insider recognizes the increasing number of women in venture who made partner or general partner for the first time in 2021. We’ve got a long way to go, but in 2021, about 15% of general partners in venture were women, up 3.5% from 2019. |
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| Remote Work Helps Boost Employee Diversity |
| Stripe and Airbnb’s CEOs recently took to Twitter to note how remote work has fostered an increase in hiring outside of Silicon Valley. This builds on recent news from Twitter itself that their shift to a “work from anywhere” policy as well as implementation of a requirement to add more people of color to final job candidate slates helped boost hiring of Black and Latinx employees. |
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| INCLUSIVE ENTREPRENEURSHIP |
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| NYT Interview with Sara Menker |
| Ethiopian entrepreneur Sara Menker founded Gro Intelligence, which uses artificial intelligence to forecast global agricultural trends and battle food insecurity. |
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| 2020 Venture Funding for Women |
| US startups founded solely by women raised nearly $6.4 billion of venture funding in 2021, 83% higher than the total raised in 2020. However, this is still just a sliver of the pie. To meet the challenges of our time, we need all players on the field. |
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| Reconsidering Overdraft Fees |
| Several large banks have taken steps to eliminate or reduce overdraft fees recently. Advocates applaud this movement as frequent overdrafters tend to skew toward those living paycheck to paycheck and are disproportionately Black and Latinx. |
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