Definitely keeping an eye on @stripe @patrickc new product, Stripe Capital, with special attention to how it might both help small businesses run by minority/women founders and biz that sell products aimed at these groups.
Why?
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Rem Koning Retweeted Rem Koning
Well, lots of work shows women/minorities have a harder time getting access to capital. Further, my current work (e.g. https://twitter.com/orgRem/status/1139279397100220416 …) suggests that female inventors and founders generate products that benefit women.
Rem Koning added,
Rem Koning @orgRem1/ Excited to share a new paper w/@jpferg@SampsaSamila that tests if female inventors invent for women. We find that when the lead inventor on a patent is a woman the invention is 25% more likely to address female diseases, conditions, and anatomy. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3401889 … pic.twitter.com/r7fG2QfWwpShow this thread1 reply 0 retweets 2 likesShow this thread -
Thus, tools/platforms that might allocate capital in a less biased manner not only benefit minority/female founders, but likely also benefits minority/female consumers. Lots of potential welfare gains
1 reply 0 retweets 1 likeShow this thread -
See your point, but I wouldn't be too optimistic. The product allocates capital based on history of sales. If minority owned biz struggle here for other reasons,
@stripe is less likely to lend.2 replies 0 retweets 4 likes -
Replying to @abhishekn @orgRem and
@abhishekn raises an important point. Are there clear examp. of information technology-based solutions that actually helped minorities/women/etc in measurable ways? Or is this the same old self-serving "change the world" naive optimism that distracts attention from real solutions3 replies 0 retweets 3 likes
FICO (and the consumer credit reporting infrastructure that underlies it) are my go-to answer for that. (I have an academic and more recently professional interest in this topic.)
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