SoftBank Announces $100 Investment Fund For Minority-Owned Businesses
SoftBank announced Wednesday it will start a $100 million Opportunity Fund that will invest only in companies led by people of color.
According to CNBC, the fund is the first created in response to nationwide protests sparked by the killing of George Floyd, Breonna Taylor, and others.
SoftBank Group International CEO Marcelo Claure told CNBC’s Squawk Box Wednesday the company put the effort together in the past 24 hours after speaking to SoftBank founder Masayoshi Son.
“We spoke to Masa Son about the privilege that we see at SoftBank, being one of the largest tech investors in the world, and we needed to do something big about it,” Claure told CNBC. “The whole thing is to do something about it. I see a lot of people have good intentions, but I think each one of us needs to contribute to make change in America.”
The fund will start with $100 million of its own capital and will not take a traditional management fee, the company said in a statement. The company added 50% of gains made will be reinvested into subsequent Growth Opportunity Funds.
SoftBank will also donate a portion of its gains to organizations that create opportunities for people of color. Claure sent a letter to all employees, writing it’s also creating a dedicated diversity and inclusion program to examine hiring biases.
SoftBank’s current management is overwhelmingly male, with the company planning to nominate its first female board director at a shareholder meeting later this month. Additionally, the company added it will match all personal donations, up to $1,000, to support nonprofit organizations that fight racism and discrimination and promote unity.
Citi and JPMorgan Chase also made commitments to helping minority businesses and owners through investment funds earlier this year.
Latin Gangs in Chicago Attack Black Protesters To Assist Police
Latino leaders in Chicago are calling for unity and non-violence after reports of black Chicagoans being harassed and attacked in some Latino neighborhoods.
According to Block Club Chicago, a nonprofit news organization in Chicago, neighbors in Little Village, a mostly Hispanic neighborhood, joined forced to protect stores Sunday after people began looting shops.
Alderman Michael Rodriguez told Block Club Chicago that as the night went on several Latino men became “antagonistic” and were indiscriminately targeting African Americans driving through the neighborhood. Rodriguez added on Monday he witnessed a young African American couple driving go through a “gauntlet” with people throwing things at their car.
“It was terrible. They looked so frightened,” Rodriguez said.
Rodriguez has called for peace, unity, and understanding in the Latino community when it comes to the protesters.
“The Latinx community needs to support our African American brothers and sisters. If any of our community are out of line, we need to call it out,” Rodriguez said.
Alderman Byron Sigcho-Lopez told Block Club Chicago he’s also received reports of black men and women being harassed and he will not stand for it.
“We love our black residents, we love our black community,” he wrote on Facebook. “…We will not tolerate…[harassment] of our black neighbors.”
Pastor Matt DeMateo of New Life Centers said outreach workers were on the street telling folks they can protect businesses without harming black Chicagoans.
“This isn’t an anti-black movement,” DeMateo said. “We are fighting for peace at all levels. We are fighting a pandemic. We are fighting the violence in our community. We are fighting now the challenges of everything that happened in the last week.”
Three Chicago pastors are also calling for the resignation of Joliet Mayor Robert O’Dekirk after a video showed him grabbing and shoving a protester. O’Dekirk said he would not resign or apologize and maintains that he was acting in self-defense.
Drew Brees Apologizes After Criticism Regarding NFL Players Protesting During National Anthem
NFL quarterback Drew Bees has apologized for making insensitive comments in regards to NFL players taking a stand against racial inequality and injustice during the national anthem at NFL games according to CNN.
Brees, who plays the quarterback position for the New Orleans Saints, caused a major uproar when he stated that he would “never agree with anybody disrespecting the flag of the United States of America” during an interview with Yahoo Finance.
The quarterback’s statements came up in an interview when he was asked to revisit former NFL quarterback Colin Kaepernick’s 2016 protest of police brutality against minorities. As the nation knows, Kaepernick knelt during the national anthem before games in protest of police brutality against blacks and racial injustice in America.
Brees said: “I will never agree with anybody disrespecting the flag of the United States of America or our country. Let me just tell what I see or what I feel when the national anthem is played and when I look at the flag of the United States. I envision my two grandfathers, who fought for this country during World War II, one in the Army and one in the Marine Corp. Both risking their lives to protect our country and to try to make our country and this world a better place.
“So every time I stand with my hand over my heart looking at that flag and singing the national anthem, that’s what I think about. And in many cases, that brings me to tears, thinking about all that has been sacrificed. Not just those in the military, but for that matter, those throughout the civil rights movements of the ‘60s, and all that has been endured by so many people up until this point.
“And is everything right with our country right now? No, it is not. We still have a long way to go. But I think what you do by standing there and showing respect to the flag with your hand over your heart, is it shows unity. It shows that we are all in this together, we can all do better and that we are all part of the solution.”
After getting major blowback from sports players like teammate Malcolm Jenkins and NBA great LeBron James and hearing about it on social media, Brees backtracked and released this statement and apology today.
Starbucks CDO Nzinga Shaw Knows There Is No Testimony Without a Test
Featuring a broad cross-section of women who have distinguished themselves across a rich variety of careers, our Portraits of Power series is a celebration of the 50th Anniversary of Black Enterprise, and of black women. It’s a place for today’s businesswomen to share their own favorite images and their own stories, in their own words. Today’s portrait is Starbucks CDO Nzinga Shaw.
My first job was at ESSENCE magazine, where I was employed as the Human Resources Coordinator soon after I graduated from Spelman College.
My big break came when I became the first-ever chief diversity & inclusion officer in the National Basketball Association representing the Atlanta Hawks franchise. As an African American woman who landed this ground-breaking, C-level role at the age of 35, I became a thought leader in the diversity & inclusion space at a time when it was (and still is) critically important in sports organizations and corporate America, more broadly. I was instrumental in leading the Atlanta Hawks out of a public crisis which involved the release of emails and phone recordings of the previous controlling owner and general manager disparaging their African American fan base. This professional opportunity put me on the map as a national leader in diversity & inclusion and crisis management. I became a real-life Olivia Pope.
I’ve had to work hardest at networking. I don’t enjoy attending a lot of functions and passing around business cards, but I love meeting new people and building organic relationships. I redefined what networking looks like and have worked hard to build sustainable contacts throughout the years.
I never imagined I would live in Seattle. It is the last place I expected to live. As a native New Yorker, I never envisioned myself living in the Pacific Northwest, but I love it!
I wish I’d learned how to make diversified investments sooner. I could be rich!
If I could design my fantasy self-care day, it would be spent taking a boat ride on the Puget Sound and observing the beautiful skyline with a margarita.
My 1-year old son (Hudson) keeps me up at night. I try not to let things outside of my control worry me to the point of not sleeping. As a mom of a 3-year old and 1-year old, I cherish my sleep!
When I’m struggling, I say to myself that everything will be alright in the end, but there is no testimony without a TEST.
I am unapologetically confident.
Portraits of Power is a yearlong series of candid insights from exceptional women leaders. It is brought to you by ADP.
Civil Rights Attorney Areva Martin on the Killing of George Floyd and Protesting at the Polls (Video)
In addition to the global COVID-19 crisis that’s disproportionately killing African Americans, black people around the country are battling the pandemic of racism. Since the country’s inception, racism has infected all facets of American society, from the criminal justice system to education to business to politics.
Although racism has always existed in our nation, the recent killings of unarmed black men and women have brought racialized police violence to the forefront of national discourse and incited a string of ongoing protests. For many, the killing of George Floyd, an unarmed black man, at the hands of white police officers in Minneapolis last week was just the tipping point.
During an interview on BLACK ENTERPRISE’sThe New Norm with Selena Hill, civil rights attorney Areva Martin shared her legal expertise on Floyd’s death, the officers involved in his killing, and how voting can combat systemic racism.
The Trauma of Watching George Floyd Death’s
Martin revealed that she had trouble watching the 10-minute video recording of Floyd as he repeatedly told police “I can’t breathe” while a Minneapolis police officer kneeled on his neck and back while three other officers watched on and didn’t intervene.
“I feel like I have Post Traumatic Stress Syndrome,” she said. “I think the whole country is experiencing a level of trauma, the likes of which we’ve never seen.” She added, “police brutality isn’t new, but now it’s being filmed. And because it’s being filmed, we watch these inhumane and brutal acts, and they are traumatizing.”
According to her, there is no justification for the actions of former Officer Derek Chauvin, who nonchalantly kneeled on Floyd’s neck when he was already in handcuffs.
“What we witnessed on that videotape with Mr. Floyd is categorically unacceptable, excessive use of force, a complete denial of his civil rights, of his human rights,” said Martin. “Let’s be clear, he was kneeling on his neck, cutting off his airways, for what appeared to be…as much as 7, 8, maybe even 9 minutes. And the cavalier nature of those other officers, who were standing around listening to this man plead and beg for help — it’s just chilling.”
“There was a decision to terminate those officers immediately unlike in the Eric Garner case,” she noted. “So, in this case, Mr. Floyd’s case, there is videotape. There are the officers, there are eyewitnesses, [and] there were people standing around,” she said.
Take That Energy to the Polls
Martin went on to call for those who are outraged by the killing of Floyd and the criminal justice system at large to vote during local, state, and federal elections.
“One lawsuit is not likely to cause an entire police department to change.” Rather, she argued that communities of color need to elect unbiased district attorneys who will hold bad cops accountable in cases like this.
“It is the district attorney sitting at your local county district attorney’s office that is going to ultimately decide whether an officer [is] charged or not,” she said. “When election time rolls around in your county and you’re voting for that district attorney…you need to understand who’s on that ballot because that is such a critical decision.”
Martin also stressed the importance of mayoral races “because mayors select police chiefs and police chiefs select police officers,” she said.
The attorney and best-selling author went on to state that the 2020 presidential election will have a huge impact on communities of color since the president has the power to appoint an attorney general who sets policies that could lead to more police oversight and reform, in addition to appointing federal judges around the country and Supreme Court Justices.
“What people need to realize is the president is one person. It’s the people that the president brings into their cabinet that run this country: the attorney general, the secretary of education, the secretary of labor, secretary of treasury. They are making the policies that impact the everyday lives, particularly for people of color,” said Martin.
She added that Senate Majority Leader Mitch McConnell and President Donald Trump “have packed the federal courts with some of the most conservative and I’m going to even say incompetent judges that will have lifetime tenure on the federal bench. And those are the judges [you see] when you get a drug charge and you’re standing before a federal court and they’re making decisions about whether you’re going to go to jail for life on a cocaine charge.”
She concluded, “So if you care about what happened to Mr. Floyd, if you care about Breonna Taylor, if you care about criminal justice reform—we need Joe Biden more than ever.”
Watch Areva Martin’s interview on The New Norm With Selena Hill below.
NBCUniversal Diversity Manager Offers Brands Advice On How To Support Their Black Staffers
In light of the recent protests and commentary surrounding racial violence, many in the African American community have also been reliving past racial traumas that are adversely affecting their mental health. Because of this, there has been a lot of discussion on how companies can show support not only publicly but internally for their staffers and freelancers.
In an email interview with BLACK ENTERPRISE, NBC Universal Media Manager of Diversity & Inclusion for Talent & Culture Tiara Budd-Ramos discussed how brands can support their black employees during this time.
What are things brands can do to support their black staffers impacted by the current news cycle?
Brands can support their black staffers during this time by actively listening and starting to be comfortable with being uncomfortable. These conversations won’t be neatly tied up with a bow at the end of them and they will be emotional and hard for some people to have, but the truth is that silence is a stance. Every day that a company doesn’t speak out or reach out to their black employees speaks volumes in the workplace.
Beyond that, brands need to understand that we’re tired. Exhausted. It’s not all on us to begin this dialogue and it’s unfair to treat us like it is. Your black employees are being bombarded left and right with triggering and traumatic images, so no, they don’t want to turn their camera on right now and managers and leaders need to not only understand that, but also accept it.
What are proactive strategies brands can use to avoid being tone deaf on social media?
Many brands are trying to show their solidarity with the black community, but sending an email or tweeting a hashtag isn’t going to cut it. We want to hear of your action plans and how your black employees are being supported not only today but always. Brands can be proactive by admitting that they might not have the answers and may have made mistakes in the past, but they’re having the conversation and they’re trying to learn.
They can show that they’re arming themselves with resources and offering a space for their black employees to speak when they want to but also be silent when they need to. We want to know that once this news cycle is over and your post is no longer in the feed that your black employees still feel part of an inclusive culture. Actions will always speak louder than words.
How can brands be proactive after the social media climate changes and the protest aren’t trending topics anymore?
News cycles and social media change fast, but these conversations shouldn’t end there. Let’s continue to have the dialogue about the impact of racial inequality and these systems in the workplace and focus on actively changing them. If a company is unsure of how to start, then hire an expert who can help lead the conversation, but once again it can’t end there. Brands have to consistently prove that they’re listening to their employees and then putting actual action behind their wants. They shouldn’t be checking a box for the sake of diversity and inclusion, but actually working to change the shape and culture of the workplace beyond today and tomorrow.
Black Lives Matter Advocates Running for Congress in 2020 Share Advice to Keep People Politically Engaged
In the midst of civil unrest and the COVID-19 pandemic, people are remaining politically engaged. On Tuesday, Ferguson, Missouri, elected a black mayor, Ella Jones, for the first time in the history of the city. Her victory is monumental in a city where black residents are historically oppressed by the government and police officers. As people take to the streets to demand justice for the killings of unarmed black women and men, Black Lives Matter advocates, some of whom have been on the front lines, are encouraging people to let their voices be heard at the polls.
Yesterday during a Zoom press conference, Cori Bush, candidate for Missouri’s 1st District; Shahid Buttar, candidate for California’s 12th Congressional District; Samelys Lopez, candidate for New York’s 15th District; and Isiah James, candidate for New York’s 9th District shared advice on how to stay politically engaged. They also shared their plans to support black lives, people of color in politics, and marginalized communities impacted by over-policing and social inequities.
(Image: Screenshot/YouTube)
Here are the top takeaways from yesterday’s conversation.
Isiah James, candidate for New York’s 9th District on overcoming oppression
“What we saw with that officer’s knee on George Floyd’s neck, was the weight of the state, pressing down on the neck of a black man.”
“We have an opportunity to live up to the values that we purport that this country is for everyone. We have an opportunity right now to truly be the land of the free. Those opportunities are within our grasp, but it’s up to us to take the steps to reach them, because change is hard.
“Four hundred years is a long time to be oppressed. One hundred years is a long time to be oppressed. A day is a long time to be oppressed. Eight minutes is too long to have a knee on your neck. So let us, in this moment, stand together as a collective voice that we will not any longer put up with a government that does not serve the people, puts the needs of the corporation before the people,” James added.
Cori Bush on funding black politicians and defunding the police.
“In 2018, black women received the least amount of money in donations than anybody on the planet. And it’s not because we’re not qualified or because we’re not good we’re not worth it. It’s just because people don’t see us enough as a leader.”
“We need to defund the police and make sure that money goes back into the communities that need it.
“Solving this problem is not about more police and more training. Minnesota received $12 million dollars after the murder of Castille. Now here we are. That will not help us. We have to end the militarization of police, stop the racial profiling. Throwing money at the problem will not solve it. We need diversity in our forces, so it is representative of the people who live here and we see at our churches and groceries stores.”
Shahid Buttar, candidate for California’s 12th Congressional District on leadership
“We’re witnessing a profound moment in U.S. history. The protests spreading across our country represent not only a diverse grassroots challenge to centuries of racial oppression but also a crucial defense of our democracy at a time when fascism threatens it—and all of our rights.”
“Just in this week, we’ve had the president deploy chemical weapons against peaceful protestors so he could stage a photo op at a church, whose pastor then had to repudiate his sordid presence, and the Speaker of the House’s response is to put HER hand on a bible, and start quoting bible passages. As her constituent I can understand why some people would be unenthused to vote. I get enraged.”
Samelys Lopez, candidate for New York’s 15th District on the importance of black lives
“Black Lives Matter here in the United States of America, they matter all over the world.”
“People are reacting this way because they feel unheard, and they feel unseen, and they feel like every time they put their lives on the line that nothing changes. We need the leadership to hear the movement space on why criminal injustice reform is necessary in this country.”
The candidates also called for greater representation of black and brown people within leadership positions. While the new Congress is the most racially and ethnically diverse ever, still only one-in-five are racial or ethnic minorities. Only half of those are black, and only a few of them come from movement backgrounds.
Virginia Gov. Ralph Northam: State To Remove Robert E. Lee Statue
Virginia Governor Ralph Northam said the state will remove the Confederate general Robert E. Lee statute from Richmond’s Monument Avenue.
According to CBS News, Northam made the announcement at a Thursday morning press conference and on Twitter. Northam added the statue will be moved into storage while officials try to find a place for it.
The Virginia Legislative Black Caucus called the move “a step in the right direction in the continued fight to address institutional racism, systemic disparities, and remaining vestiges of Jim Crow in our Commonwealth.
“These confederate monuments are a symbol of racism, oppression, and hate,” the caucus added. “It coincides with similar actions, such as with the removal of the Confederate statue at Appomattox in Alexandria and with plans to remove the Fredericksburg slave auction block this month. In addition, we must continue to focus on creating a better future by dismantling the systemic racism that still exists across our institutions.”
Richmond mayor Levar Stoney said in a press release Wednesday that Confederate monuments have been spray painted during the recent protests following the death of George Floyd. Due to the history of racial injustice that monuments like Lee’s statue represent, Richmond plans to introduce an ordinance on July 1 to remove the statues from city land.
“Times have changed, and removing these statues will allow the healing process to begin for so many Black Richmonders and Virginians,” Stoney said in the release. “Richmond is no longer the Capital of the Confederacy–it is filled with diversity and love for all–and we need to demonstrate that.
“George Floyd’s death may have happened in Minnesota, but the shockwaves are bringing very valid pain to the surface in our city. Last night, Richmond told me to channel our city’s pain into reform,” Stoney added. “The consensus is that some serious healing has to take place.”
Monument Avenue also sports statues of Confederate leaders J.E.B. Stuart, Jefferson Davis, Thomas “Stonewall” Jackson, and Matthew Fontaine Maury. Activists have been fighting for years to remove the statues.
The Members of The Sons of Confederate Veterans, an organization of descendants of Confederate soldiers, are pushing to keep the monuments up.
“The Virginia Division is defending your American History and Heritage throughout the Commonwealth of Virginia. Fighting the narrow minded [sic] that are attacking our heritage,” the group says on its website. “This is a costly endeavor.”
College campuses across the country have also removed statues of figures aligned with racist ideals in recent years.
New Poll Shows Only A Quarter of African Americans Plan To Get Coronavirus Vaccine
As Americans battle the pandemic of racism in the streets and protesters call for justice amid the recent deaths of George Floyd, Breonna Taylor, and others at the hands of law enforcement officials across the country, another pandemic is still dealing out a lot of damage to the community. There are still new cases of COVID-19, or the novel coronavirus, developing weekly and one of the groups hardest hit has been African Americans. Despite this fact, a new poll shows many won’t be getting a vaccine once it becomes available.
A new survey conducted by The Associated Press-NORC Center for Public Affairs Research found that 49% of Americans say they plan to get a vaccination once one becomes available with another 31% saying they are unsure if they will get vaccinated. Twenty percent of respondents flat out said they will not be getting any vaccine. As the respondents were broken down by age, race, and gender, disparities emerged among different groups.
“Older Americans, and those who worry that they or someone in their household could be infected with the virus are more inclined to say they will get a coronavirus vaccine once it becomes available,” researchers said according to NPR. “Black Americans are more likely than other racial and ethnic groups to say they do not plan to get the vaccine if it becomes available.”
The survey also showed that white Americans were far more likely to get a coronavirus vaccine, outpacing black Americans 56% to 25%. The study found 37% of Hispanics say they will get a vaccine once one becomes readily available. One of the main factors why African Americans are hesitant to receive any vaccine dates back to the Tuskegee experiments and medical discrimination across the field.
Despite the finds, reports of a vaccine being available to the general public are still a long way off.
Keke Palmer Emotionally Pleads With National Guardsmen To ‘March Beside Us’
Protests have erupted all over the country in response to the recent viral video of a white police officer suffocating George Floyd, an unarmed black man, and other black lives lost at the hands of police and vigilantes in recent weeks leading to a public outcry for justice. Since then, protests have now been held in all 50 states and in several major cities around the world. Celebrities and notable figures have also been using their platforms to speak out and call for justice for the victims’ families.
Recently, actress Keke Palmer was seen on the front lines of the protest in Hollywood on Tuesday. In a now-viral video on Twitter, Palmer is seen confronting several members of the National Guard who were also at the scene. In a passionate speech, she tells the men to march alongside the protesters, telling them to be examples in the fight against racial injustice
“We have people here that need your help,” Palmer said in a video tweeted by NBC News correspondent Gadi Schwartz. “This is when y’all stand together with the community, with society, to stop the governmental oppression. Period. We need you, so march with us.”
“March with us. March beside us,” she continue to plea in the video. “Get your people. March beside us. Let the revolution be televised. March beside us and show us that you’re here for us. Let’s just do it. We start marching and you march with us. Make history with us, please.”
