It will require a multi-pronged effort, ranging from trying to implement better labor laws to improve parental involvement and reduce stress among the poor, better community health plans to counter poor nutrition, better public schooling through investing in teacher's salaries etc. Maybe after 20 years of doing that we're going to see minorities improve their standards.
But considering that any such long-term approach will be blocked immediately by the free-market enthusiasts, I fear there is nothing much that we can do. That raises a more important question: is fight against the machine even possible?
Ah, your response is good but very wide and 'systemic', i.e. what society as a whole can do over decades. But in the meantime, VC's are free to make their investment decisions, so I was wondering what you thought they should do differently to make a difference, today. Should it be quotas or minimum investments for people from alternative backgrounds? Or, what can VC's do to help level the playing field? If they receive smaller amounts of dealflow from alternative backgrounds, it's hard for them to apply their usual methods of investing... i.e. they might not even get access to opportunities from those backgrounds. what, then, could be done?
I didn't get your rant until this comment thread really showed me what kind discourse you're looking for and how the other poster was being inflammatory. On your side.
Now, on this topic, maybe it would be possible to establish a matching fund (maybe crowd-sourced, angellist style?) that gives some amount of matching funding in order to incentivize those VCs investing in demographic outliers, lowering the potential economic risks to investing in first-time, first-generation founders and non-Stanford/MIT grads.
It will require a multi-pronged effort, ranging from trying to implement better labor laws to improve parental involvement and reduce stress among the poor, better community health plans to counter poor nutrition, better public schooling through investing in teacher's salaries etc. Maybe after 20 years of doing that we're going to see minorities improve their standards.
But considering that any such long-term approach will be blocked immediately by the free-market enthusiasts, I fear there is nothing much that we can do. That raises a more important question: is fight against the machine even possible?