Diversity Is Way Too Important To Be Just Another Vanity Metric

Facebook announced their diversity numbers this summer and has made scant progress in two years. Only 1/3 of their employees are female and just three percent of senior U.S. leadership are Black. According to USA Today, Hispanics represent four percent and African Americans two percent of Facebook’s U.S. workers, percentages that have not budged since 2014 and that fall below other industries’ averages.

If diversity were a product that launched 2 years ago it would be considered a failure. A product that stagnates for two years has a growth problem. — Bo Ren

While there are positive strides to increase the minority presence in tech and VC, with new initiatives like Black Girls Code, Clearly Innovative and Backstage Capital, there are still serious questions about both tech and the VC industry’s lag in progress. However, today I was pleased to see a new initiative building programs to encourage diversity within the VC industry in which Black investors comprise a mere 1.7 percent of those firms.

  • Adoption of the Rooney/Murray Rule for the interview processes for senior and intern level positions.
  • Committing 20+ hours per month on mentoring, presenting, and participating in events designed to help foster diversity within the entrepreneurial ecosystem as well as actively mentor women within and outside of our portfolio.
  • Supporting organizations promoting diversity, such as Girls in Tech.

Written by

Harry Alford is Co-Founder of humble ventures, a venture development firm accelerating tech startups in partnership with large organizations and investors.

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