Wednesday, October 31, 2012

Article: "Why So Little Racial and Ethnic Diversity in Crowdfunding?"

Thought this was an interesting article, reminiscent of:

Why Does the Fed Have So Little Supplier Diversity?

In the Crowdfunding article under review here, "Tides Foundation Program Director Anthony Jewett raises an interesting question about crowdfunding: 'Where’s the color in the crowd?' He acknowledges many crowdfunding success stories in an industry that he says will generate $2.8 billion in funding for start-up and small enterprises this year (nearly double what it generated last year) and he argues that crowdfunding has 'more serious potential to democratize access to capital across the for-profit, nonprofit and political arenas over the long term.' But he is troubled by the lack of people of color in the crowdfunding industry, which is dominated by leaders looking much like the venture capital and private equity industries in terms of ethnic and racial diversity—which isn’t much."

We agree. 

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