Not Being Funded by Venture Capitalists, Black People in Technology Are Creating Support for Themselves
by Cedric 'BIG CED' Thornton

May 17, 2022

Not Being Funded by Venture Capitalists, Black People in Technology Are Creating Support for Themselves

Black entrepreneurs may be doing better than they have in the past as it relates to venture capitalists investing in companies. Yet, compared to the general population, it is still only 1% of monies supported by venture capital funds.

Venture capital funding for Black startups had reached $1.8 billion during the first half of 2021. That would be an impressive number, but according to Crunchbase, VCs had awarded $147 billion in total funding during the first six months of 2021. That amounts to Black entrepreneurs obtaining just 1% of the funds made available by venture capitalists.

Although Blacks are represented in the technology sector, they have managed to move forward without relying on funds from the venture capitalists that are willing to provide for non-Black people and companies.

In recent years, there have been many issues and accusations of racism and discrimination against many tech companies. A group of Black ex-employees of Google sued the company in March, claiming discrimination and stating that they were relegated to low-level roles within the company. Another lawsuit was filed by the California Department of Fair Employment and Housing which alleges that Elon Musk’s Tesla subjected Black employees to racial slurs and language while they were also discriminated against when it came to the jobs they were assigned, promotions, and pay.

According to data compiled by the Los Angeles Times, Black people continue to be underrepresented in the major U.S. tech companies. Companies like Meta (Facebook), Slack, Salesforce, and Microsoft have workforces that are fewer than 5% Black. Twitter is 6% Black.

As Black people try to stay within the tech field, knowing that their counterparts have advantages not afforded them, people continue to make strides in creating their own companies. It’s not easy.

“Unfortunately, I think, for some of our counterparts feel we have to prove ourselves,” Deena McKay, a technologist and the host of the podcast Black Tech Unplugged, said.

The Honey Pot Owner Confirms The Company Was Not Sold to White Owners
by Jeroslyn JoVonn

May 17, 2022

The Honey Pot Owner Confirms The Company Was Not Sold to White Owners

The Honey Pot owner Beatrice Dixon took to Instagram on Monday to respond to her company trending for the wrong reasons over the weekend.

In a nearly 14-minute video, Dixon said she is “spiritually and emotionally invested” in her business and has not sold her company despite the speculation. She confirmed that she and her brother still own and operate the business along with their team.

“1. We have not sold. 2. The wash formulation has evolved for good reason. 3. We have and always will serve humans with vaginas best,” she shared in the post’s caption.

Reading off a personally written letter, Dixon said, “this brand is me.” And while she admits to changing the product’s ingredients, the newly added components are “more effective” and still “plant-derived.”

Dixon also touched on how she “evolved” her manufacturing process that still only produces products that are “plant-derived, PH balanced and backed by science.” The feminine care business owner admitted that The Honey Pot “didn’t do enough to communicate” the changes to their customers.

The brand trended over the weekend after Twitter users took notice of the company’s change in all-natural ingredients.

https://twitter.com/coilele/status/1525674816942006272?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1525674816942006272%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.blackenterprise.com%2Fthe-honey-pot-trends-after-black-twitter-realizes-its-no-longer-organic%2F

The company released a statement in response to the backlash saying they only built “upon the formula” customers fell in love with over the years. But many felt like the Black-owned brand “sold out” and seemingly attempted to mislead customers.

“If the ingredient wasn’t good enough to use in your original formula, then it shouldn’t be present now,” one Twitter user said. “Stop the bs. You no longer have any of the major selling points that made you stand out. It’s not organic anymore. It’s not Gyno approved anymore.”

Dixon’s Instagram video was her attempt at damage control and saving the brand’s image. The drastic change in online support comes two years after the Black community rallied behind The Honey Pot after Dixon was subjected to racism following her feature in a Target commercial.

Michael K. Williams Nephew Recalls Finding Actor’s Lifeless Body Inside Brooklyn Apartment
by Jeroslyn JoVonn

May 17, 2022

Michael K. Williams Nephew Recalls Finding Actor’s Lifeless Body Inside Brooklyn Apartment

Last September, Michael K. Williams’ nephew, Dominic Dupont, found his uncle’s lifeless body. Now he’s reliving the tragedy for an in-depth discussion on Red Table Talk.

In a preview of the interview, Dupont recalls the details of the late actor’s untimely death and how he ended up being the one to find his body.

“I went upstairs, opened up his door, it was quiet. Michael always played music. That wasn’t the case,” Dupont said.

“I stuck my head in and said, ‘Uncle Mike, are you in here?’ And I observed him… deceased. I immediately called 911, and they said, ‘Listen, do you want to start some compressions?’ And I said, ‘I’m telling you … he’s deceased. He’s gone. He’s cold,” Dupont said.

Williams died on Sept. 6 from acute drug intoxication. In February, four men were arrested in connection with the renowned actor’s death, The Guardian reports. Security cameras showed Williams buying fentanyl-laced heroin just hours before his passing.

Irvin Cartagena was seen handing Williams the drugs that took his life. Cartagena was charged with directly causing the actor’s death.

Authorities confirmed Cartagena had already been under surveillance even before the actor’s fatal overdose. Others charged in the case are Hector Robles, 57, Luis Cruz, 56, and Carlos Macci, 70.

“Today, along with our law enforcement partners at the NYPD, we announce the arrests of members of a drug crew, including Irvin Cartagena, the man who we allege sold the deadly dose of drugs to Michael K Williams,” US Attorney Damian Williams said at the time. “This is a public health crisis. And it has to stop.”

Those arrested are accused of continuing to sell fentanyl-laced heroin to people even after they learned one of their products led to the actor’s death. The charges against all four carry a mandatory minimum of five years in prison with a maximum sentence of 40 years.

Karine Jean-Pierre, First Black White House Secretary, Makes Her Historic Debut
by Atiya Jordan

May 17, 2022

Karine Jean-Pierre, First Black White House Secretary, Makes Her Historic Debut

On Monday, Karine Jean-Pierre shared some words as she officially began her White House Press Secretary duties during her historic briefing room debut.

The Hill reported that the former principal deputy press secretary took to the podium on Monday, marking her first press briefing in her new role. Her speech acknowledged the contributions of generations before her and pledged to maintain honest messaging as she takes over for Jen Psaki.

“I am obviously acutely aware that my presence at this podium represents a few firsts,” Jean-Pierre said at the top of Monday’s press briefing. “I am a Black, gay, immigrant woman, the first of all three of those to hold this position. I would not be here today if it were not for generations of barrier-breaking people before me. I stand on their shoulders.”

Jean-Pierre has quite the résumé working in White House communications. Jean-Pierre became the second Black woman to hold the White House daily press briefing last May, BLACK ENTERPRISE previously reported. This achievement followed her experience as an adviser for Joe Biden during his presidential campaign and was chief of staff for Vice President Kamala Harris.

The new appointment began on May 13, following Psaki’s departure. According to The Guardian, the 64-minute debut ranged from the recent mass shooting in Buffalo to baby formula shortages. As she transitions into her role, Jean-Pierre promises to “work every day to continue to ensure we are meeting the president’s high expectation of truth, honesty, and transparency.”

“I also have tremendous respect for the work that you all do, which I know it’s not easy,” she continued. “The press plays a vital role in our democracy. And we need a strong and independent press now more than ever.”

In the official announcement, President Joe Biden noted just how much Jean-Pierre’s experience would transcend beyond the responsibilities of leading communications.

“Karine not only brings the experience, talent, and integrity needed for this difficult job, but she will continue to lead the way in communicating about the work of the Biden-Harris Administration on behalf of the American people,” PresidentBiden said in a statement.

Retail Giant Target Doubles The Number Of Black-Owned Brands On Its Shelves
by Derek Major

May 17, 2022

Retail Giant Target Doubles The Number Of Black-Owned Brands On Its Shelves

In an update on its progress to invest $2 billion in Black-owned businesses by 2025, the retail giant Target announced it’s increased the amount of money it’s spent with Black-owned companies and suppliers.

According to a Target release, the retailer has increased its investments in Black-owned brands, companies and suppliers by more than 50 percent compared to 2020. Additionally, Target has more than doubled the number of Black-owned products it carries to more than 100 with representation across every major product category.

“At Target, our commitment to supporting Black-owned companies and advocating for racial equity touches every aspect of our business — including investing in underrepresented entrepreneurs, launching Black-owned brands at Target’, working with Black designers and suppliers and increasing visibility through our marketing,” Christina Hennington, Target executive vice president and chief growth officer said in a statement.

Target has increased the number of Black-owned beauty products by 65 percent compared to 2020. More than 200 books from Black authors have been added over the last year and its food and beverage offerings will include 50 Black-owned brands by the end of the year.

Target also sells Black-owned products in its home goods, toys and clothing sections. The retail giant has also increased investments in Black marketing agencies, construction companies, facilities maintenance and more by more than 50 percent in 2020.

Target also announced it’s introducing a funding program through its in-house media company, Roundel to increase the exposure of diverse-owned brands through paid media. The Roundel Media Fund will award more than $25 million to diverse-owned and founded brands by the end of 2025. Interested BIPOC vendors can apply to the fund here

“The impact that the Roundel Media Fund’s $25 million investment can create is powerful. For example, we tested this opportunity during Black History Month and saw a 40% average sales lift for the more than 20 diverse-owned brands that participated,” Sarah Travis, president of Roundel said.

“Ultimately, we strive to be a true partner to BIPOC businesses, and this involves a continued investment to help widen and deepen their capabilities so they can grow and prosper while continuing to connect with the audiences they serve.”

One of the things Target learned when trying to increase its diversity goals is that Black-owned and minority businesses need assistance scaling up their processes to work with a national chain. As a result, Target launched the Forward Founders accelerator program designed to help Black-owned and diverse businesses increase their potential and scale-out faster and more efficiently.

Since its launch Forward Founders has supported more than 30 Black entrepreneurs and a total of 60 diverse founders.

This Black Woman Quit Her High-Paying Banking Job To Help Improve The Lives of Black Youth In Dayton, Ohio
by Atiya Jordan

May 17, 2022

This Black Woman Quit Her High-Paying Banking Job To Help Improve The Lives of Black Youth In Dayton, Ohio

Tianisha Payne was a budding investment banker before she decided that she couldn’t maintain both her lucrative career and her passion at the same time. So, her passion took the lead.

The potential $75,000 in salary and base commissions at her previous job couldn’t surpass her priceless efforts in making a difference among Black youth. Now, the 32-year-old is devoting her energy to building up a group of young Black women living in a city with one of the highest poverty rates in the nation.

Payne is the founding director and CEO of Girls Emerging into Maturity, (GEMZ) a nonprofit based in Dayton, Ohio, that strives to “improve Ohio’s future by inspiring the youth, empowering families and the communities by providing them with tools and resources to succeed,” as per the website.

The group initially began in 2017 while Payne simultaneously worked her full-time job. She quit her high-paying position in 2021, but not without some reservations. She was anxious about not having a steady income as she laid down the roots of her organization. But the psychology graduate from Ohio State University became more and more driven as her group continued to grow.

The story behind Payne’s decision is rooted in tragedy. According to the Dayton Daily News, she was especially driven to establish her nonprofit after experiencing at least three losses in her family due to violence in the city.

“It’s necessary. We are losing our girls, our youth, absolutely losing them in the streets,” she told the outlet. “We’re losing them mentally. We’re losing them spiritually. They’re losing the innocence of being a child, when at the age of 10, they are already asking about sex and trying to identify with their sexuality. Why? You’re a teen. There’s experiences to be had as a kid and they’re not getting it.”

The nonprofit is currently comprised of 25 girls between the ages of 10 and 18. Through mentorship and guidance, Payne meets with the girls to discuss topics such as sexuality, mindfulness, understanding finances, career success, personal hygiene, and more. The program has flourished in its 97% retention rate, as per the Grio. The program requires all girls must attend 75% of all sessions and maintain a 2.6 GPA.

“This environment is their safe space where they can tell me how they’re feeling, and they can cry, or they can yell, or they can be up dancing because some girls have a lot of energy,” Payne told the Dayton Daily News.

Additionally, this determined leader is also the co-owner of Gems Group Home Inc, a transitional group home to house adolescents 11 to 19 and help them achieve their next steps.

 

Humans of New York’s Tanqueray Set to Share More Life Stories in New Book
by Jeroslyn JoVonn

May 17, 2022

Humans of New York’s Tanqueray Set to Share More Life Stories in New Book

Fans of Stephanie Johnson, better known by her stage name Tanqueray, will finally get a chance to dig into her beloved Tattletales in her official book coming this summer.

Johnson became a viral sensation in 2020 after being featured in Brandon Stanton’s Humans of New York in a 32-part series he dubbed “Tattletales from Tanqueray.” Johnson’s tales of performing as a burlesque dancer in the 1960s and 70s enthralled readers and led to her receiving over $2.5 million from a GoFundMe campaign.

Now, two years later, Stanton is gearing up for the release of her new book that’s “60% longer” than what she shared in the 2020 series.

“Stephanie and I are coming out with the ‘Tanqueray’ book on July 12th. Guaranteed satisfaction, because it’s Tanqueray,” Stanton announced in a May 11 Facebook post.

Teasing what fans can expect, Stanton dished that the book will include “All the classic hits from the original story, and tons of new material.” She also noted the “new jaw droppers” that are sure to get a reaction from readers.

Stanton asked for support in the form of pre-orders as she pushes her publisher to produce enough supply to meet the anticipated demand. But fans flooded the comments section with reassurance that they are ready to get their hands on Tanqueray’s book.

 

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The funds raised from her 2020 series were to help the former dancer “live the rest of her life in comfort and dignity.” Her stories filled HONY’s Instagram for weeks in 2020.

With many inside with nothing to do at the time, reliving Tanqueray’s days on the stage in old New York and her journey to survive got many through. Now having her life story turned into a book with color pictures will help Tanqueray’s legacy live on.

Pastor Jamal Bryant Apologizes for Shaming Kevin Samuels Posthumously During Sunday Sermon
by Jeroslyn JoVonn

May 17, 2022

Pastor Jamal Bryant Apologizes for Shaming Kevin Samuels Posthumously During Sunday Sermon

Pastor Jamal Bryant apologized to Kevin Samuels’ family after disparaging the late social media star during his sermon on Mother’s Day.

On Monday, the New Birth Missionary Baptist Church pastor took to Instagram to send his “deepest condolences and apologies” to Samuels’ loved ones after he referenced a GoFundMe campaign launched in response to the YouTube personality’s sudden death on May 5.

“Thank you to all who purposed to keep me accountable,” Bryant captioned the post. “We grow from mistakes and birth maturity. Humility will always defeat arrogance. We grow as we go!”

 

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A post shared by Pastor Jamal Bryant (@jamalhbryant)

“The sound of your offense should be at the same volume as your apology,” Bryant said in his Sunday sermon.

Standing at the pulpit, Bryant took “full accountability” after referencing a since-debunked GoFundMe page created by Samuels’ friend Melanie King.

“How can a man say you are of low value after 35?” Bryant asked his congregation before claiming, “that man has to get a GoFundMe for his funeral.”

Bryant was referencing one of Samuels’ last videos where he referred to unmarried women over the age of 35 as “leftovers.” The pastor, and ex-husband of The Real Housewives of Potomac star Gizelle Bryant, felt the need to take aim at Samuels’ death and what he believed was a campaign to fund the late influencer’s funeral.

But Samuels’ family reached out to TMZ last week, confirming they weren’t involved with the GoFundMe and wouldn’t accept any of the donated funds. Those who donated had their money returned to them.

Samuels’ family has asked for privacy as they mourn his loss. His mother, Beverly Samuels-Burch, revealed that she learned of her son’s death on social media.

“That was a terrible thing for social media to put that out. I didn’t even know. I hadn’t even been notified,” she told NBC News. “All I’m doing is requesting that people pray for us.”

Black Bankers Keep Battling For Top Leadership Roles In Finance Space
by Jeffrey McKinney

May 17, 2022

Black Bankers Keep Battling For Top Leadership Roles In Finance Space

In recent years, some large U.S. banks have taken actions to boost workforce and boardroom diversity.

Yet, there is greater pressure on them now more than ever two years after the murder of George Floyd and the devastating sting COVID-19 has left on the Black community. Along with pledges of billions of dollars to fight systemic racism, some banks have delivered by promoting some Blacks, offering internships, and other programs to advance hiring and retention of people of color since 2020.

However, observers declare banks must step up their efforts to add more Blacks in executive and middle-management positions where they can make a large difference in a bank’s decision-making process to truly boost wealth in Black communities.

Black senior bankers account for under 10% of the entire leadership team at the biggest Wall Street firms that remain predominantly white, based on Bloomberg. While Black employees account for 12% of entry-level jobs, they only make up 7% of managers, a McKinsey and Co. report shows.

Still, Black bankers admit some gains have been made though it is hard to pinpoint just how much.

The good news is there are Black bankers like Timicka Anderson, a managing director at Citigroup Inc., who is spearheading changes to help the banking industry make the transition to become more diverse.

She is among Black bankers backed by their peers as standout industry leaders on the diversity front. Here is a peek of the bankers, based on Bloomberg.

(Image: Courtesy of Bank of New York Mellon Corp.)

Jolen Anderson

Jolen Anderson is the global head of human resources at Bank of New York Mellon Corp. Her duties include supporting the bank’s global workforce and overseeing philanthropy and environmental, social, and governance issues. Like many firms, the bank held internal conversations about race following the death of George Floyd — talks that brought down barriers as employees, for the first time, shared with colleagues experiences they’ve lived with for decades.

“I talked about being a mother, and how I need to prepare my kids,” Anderson, 44, said.

“It’s everything from how to manage interactions with others, to how to feel if you were the only person who looks like you in the room.”

(Image: Courtesy of Bank of America)

Jason Bond

Jason Bond is managing director for Bank of America Corp.’s global banking and markets group. In his role, Bond manages a team of salespeople that generates about $500 million in revenue annually through distribution of primary products and secondary trading.

(Image: Courtesy of Citigroup)

Timicka Anderson

Timicka Anderson is head of consumer products and retail industry at Citigroup Inc.’s commercial bank. Anderson runs the team that manages Citigroup’s relationships with everyone from early-stage firms to large companies operating in consumer products and retail, and drawing in new clients. She too, is on the steering committee for the bank’s global women’s affinity group and helps out with recruiting.

(Image: Courtesy of JPMorgan and Chase Co.)

Deji Davies

Deji Davies is managing director at JPMorgan Chase and Co. Davies is head of par and stressed loan trading for Europe, the Middle East and Africa at JPMorgan. His trading team has doubled in size and added sales staff in recent years. He is also a non-executive director at the Premier League’s Brentford Football Club.

“There are more Black MD’s than years past, but more needs to be done without question, and we’re working on it,” he says.

“One of the big problems for young Black people is not seeing people in the roles they might want to do.”

(Image: Courtesy of Morgan Stanley)

Grace Chionuma

Grace Chionuma, is managing director in Morgan Stanley’s public-finance banking group. As co-head of affordable housing and community development at Morgan Stanley, she helps structure and finance deals for infrastructure projects in large cities and for nonprofits.

(Image: Courtesy of Wells Fargo and Co.)

Derek Ellington

Derek Ellington is head of small-business banking at Wells Fargo and Co. Ellington knows the value of mentorship. Throughout his career, including in his role as head of small-business banking at Wells Fargo, he’s put younger team members through what he calls, “Derek’s program.” It involves driving them to develop transferable skills, taking additional courses, and expanding their networks.

“Working with Wells Fargo’s small-business clients with annual revenue of $10 million or less has been particularly gratifying during the pandemic,” Ellington says.

(Image: Courtesy of Mark McQueen/Goldman Sachs)

Dan Freckleton

Dan Freckleton is managing director at Goldman Sachs Group Inc. He oversees European shorter-term-interest-rate sales and co-runs UK rates sales. For the past 18 months, much of his time has gone to leading the firm’s global-markets apprenticeship program in London — an effort geared at boosting diversity among recruits by bypassing the traditional university-graduate route.

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