With less than one week left until the election, DoorDash made a late contribution of $3.75 million to try to ensure California’s gig worker ballot measure Prop 22 passes. Meanwhile, Coinbase is looking for a head of diversity and inclusion and Uber was hit with claims of reverse racism.
All that and more in this week’s edition of Human Capital, a weekly newsletter where we unpack all-things labor and D&I. To receive this in your inbox every Friday at 1 p.m. PT, be sure to sign up here.
Let’s jump in.
Employees at surveillance startup Verkada reportedly used tech to harass co-workers
Oof. Just when we thought we were safe from surveillance, we’ve found yet another reason not to trust people with facial recognition tech. Just to be clear, the first part of that was sarcasm. Anyway, Vice reported earlier this week that some Verkada employees used the startup’s tech to take photos of their female colleagues and then made sexually explicit jokes.
When other employees reported the incident to human resources, Verkada CEO Filip Kaliszan simply gave the offenders a choice of leaving the company or having their share of stock reduced. After the Vice story went …read more
Source: Tech Crunch
For years — decades, even — there was little question about whether you could become a venture capitalist if you weren’t comfortable financially. You couldn’t. The people and institutions that invest in venture funds want to know that fund managers have their own “skin in the game,” so they’ve long required a sizable check from the investor’s own pocket before jumping aboard. Think 2% to 3% of the fund’s total assets, which often equates to millions of dollars.
In fact, five years ago, I wrote that the real obstacle to becoming a venture capitalist has less to do with gender than with financial inequality. I focused then on women, who are paid less (especially Black and Hispanic women), and who possess less wealth. But the same is true of anyone of lesser means.
LPs: The ≧1% of a fund capital commitment you expect from GPs makes it hard for POCs to raise funds.
Consider that “for a $20M fund, a 2% commitment with 2 GPs is still a $200K commitment for each partner.” This is out of reach for many of us. https://t.co/bguXpa3CiY
— lolitataub (@lolitataub) October 29, 2020
Thankfully, things are changing, with more ways to help aspiring …read more
Source: Tech Crunch