I held off in writing this, & wrestled with the idea of publishing But when talking to my Black peers within the industry, it became increasingly clear There is a myth about the value of Black people in this community and we need more language around ithttps://hipcityreg.substack.com/p/the-myth-of-blackness-in-venture …
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100% on both the endowment piece and the problem with "just hire a Black partner" call outs At Penn there were a lot of protests around the endowment divesting from fossil fuels -- had I known at the time about the contributions to LP's, there could have been more convo!
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there's a lot of bottoms-up pressure from the press and people coming up in the industry, but I doubt it's as effective as top-down pressure from endowments, which (thankfully) are mostly attached to ostensibly mission-driven non-profit institutions.
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Currently successful GPs could do a lot of good for new managers by publicly killing the idea of GP commit. It adds almost no value (salary cap + oppty cost is plenty of alignment) and is a huge barrier to managers who don’t come from wealth.
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