We are naturally risk averse people. Both at the lower level of working class and at the top level of wealthy. Its a cultural trait of black people, due to the unique structural challenges and precarious nature of our lives as black people in America.
The black wealthy prefer much safer assets than venture capital and private equity (like would be needed for that industrial venture you described). I've met so many older wealthy black people that dont even like the market, and prefer money markets, rentals, and boring low yield savings accounts.
Alternatively , the working class live precarious lives that need liquidity for life emergencies, so they could not keep money inside a sustained investment with a lockout period like your proposed venture. Jay Morrison found this out the hard way with his reit. You will be pulling teeth if your goal is to convince those professional and working class professionals to leave their existing and guaranteed employment to join your gamble.
Would not expect "working class people" to contribute capital...except for all the ones that do get involved in this and that scheme. (affinity grifting)
But we're in the same book, and prolly on the same page.
Now don't get me wrong , this is all still doable. But you would need an investor willing to capitalize all the cumulative risk of the people in your plan. By this I mean you would have to have an investor willing to pay that Lengthy list of job types you listed a salary on day one. You can totally use the expertise of all those black people, but they would need to be compensated completively and fairly. You cant racially guilt trip people with families into risking their livelihoods for a speculative bussiness venture.
1 investor or a consortium.
For example, would it be possible to get all the liked minded Black and Paid players from the NFL, NBA, MLB and NHL to chip on buying the Bengals? (which per google is the "cheapest" NFL franchise to buy)...
And that's at the high end.
I'm actually more interested in the less sexy businesses, like Dialysis Centers, Medical Equipment Manufacturing, Defense Contracting, etc..
Basically the type of thing I see that Black folks (that are fed adjacent) do in the DMV - just 1,000x more.
And yes I can already guess that you're going to say that this venture isn't speculative or Gamble. But let me remind you that even if you have good intentions business is not gaurunteed.
I just look at Marcus garvey's failed Black Star line or even the Harlem print shop of elder Amos Wilson
Yeah. Part of the problem I see with Black Owned but also Black Branded is poor capitalization and much worse management.
That said, I'm more interested in small-scale replication of what happened with the "4 Tigers" in Asia, or China. (not sure if possible without being able to print your own money...I digress)
On the funding side, you would need a very good cultural argument for black retirees , software engineers, docs , etc to leave their garunteed and relatively safe returns for risk. There is no good financial argument for them to do so because you cannot in good conscience give them a guarantee of high enough returns to warrant the risk. Alternatively you would have to eat the risk yourself by offering them collateral in exchange for them funding the project.
So the problem with “do you want the job because you’re black or because you’re the best?”…
The problem with that question is that you cut out all the history of how you got to this point.
You ignore the slavery and the racism and the systemic policies that kept people from thriving and learning and growing so that they could BE the best and then you act like everyone is on a level playing field TODAY.
And it’s just not right.
And that’s the whole point about these inclusion efforts and diversity efforts and affirmative action efforts.
Because people in the 1960s understood that you can’t act like we all fell out of the sky today. That if you can’t level the playing field you at least have to give people a chance to at least GET ON THE FIELD.
It’s like that old video about race debate where the guy tells the old man “you stand on the heads of everyone else, and then when you’re done you act like we are all equal…and mystify the whole thing”
His both sides and "I'm not political" comments were braindead. But besides that....what did he say wrong? Specifically in his framing: if DEI and equity are being phased out by corporations, you have to market yourself differently now. The Coli has spent years arguing that the only way to get tangibles to black people is to pass a bill or write a check that says "This Is For Black People Only." Well we know that's been off the table for years now. Republicans have used the courts to freeze or cancel funds like that, claiming they discriminate against white people. So now what? There are a lot of ways to directly help black people without getting hit with lawsuits or political targeting. And as organizations, future governments, etc set that up it's our job to be ready.
If this society was based on meritocracy and not racism, Pharrell wouldn’t sound so fukking stupid. It’s like these guys become so detached from reality, they think that they’re immune from White supremacy.
Sad, because I got every N*E*R*D album since 2002. I didn’t know Pharell was this mentally stunted. Those Smokey the bear hats must’ve brainwashed him.
Seems common doesnt it? He hasn't been living in the average person's reality since like you said at least 2002. A lot of these rich and famous people get what is called survivorship bias.
So they often believe they themselves and others successful like them got to where they are at primarily because they are the best and hardest workers rather than because they are part of that 0.1% who it worked out for.
Success is opportunity meeting preparation and a bit of luck. Hard work and being the best is the preparation aspect of it. Pharrell is omitting the opportunity aspect of it here. Which is what systemic white supremacy does. Limits and oppresses opportunities for melanated people to ascend and gain power. Which is what equity initiatives are designed to fix and grant opportunities exclusively to melanated people in order to level the playing field. He's up there talking out of his ass. It's a shame
I mean do nepo babies get jobs because they’re the best? do legacy admissions get admitted because they have the best applications? do people get jobs because they’re the best or maybe they know the right people?
I really wish black people would stop being put in a black or best category… because who else is?
There would be no need to put emphasis on race if white supremacy wasn’t the reason behind it.
Black people have been the most qualified and still were fired or not hired simply beside they were black.
So how about focusing on why those non-discriminatory actions were put in place instead of trying to act like someone just wants a job because they’re black.
nothing is wrong in the logic. Its just people who get into these positions ignore the fact that they didnt get into the position they are bc they are best
hard work alone and being the best does not mean sht when you're black. You have to be better than best lol
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to chip on buying the Bengals? (which per google is the "cheapest" NFL franchise to buy)...
www.pitchhu.com
lets keep it 100