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🗞️Diversity and inclusion news🗞️
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🤑Diversity related pay🤑
Starbucks announced a range of measures, headlining grabbing of them was that it will tie executives’ compensation to the diversity of its workforce with officials announcing that by 2025 the goal is to have 30% of corporate employees and 40% of retail and manufacturing workers who identify as Black, indigenous or people of color🤯.
Now we are big believers that you need to measure performance related to goals, KPIs, and metrics, so this is a big step for an organization that has had more than a few fleeting diversity-related issues😒
This level of corporate leadership is becoming more prominent, but if you want to understand more about what those at the top end are doing and think then check out our Allyship panel here🤓
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🤦🏾♂️Solve institutional racism🤦🏾♂️
Another week and another story where we hear that Black employees are being asked to fix institutional racism. This week's version is in Wired magazine so you may want to take a look here😕
We discussed this issue with the team at Salesforce at Black Tech Fest to dive into how they pay their ERG's and empower them. To Check out their formula, see this here🤓
Here is Barbie doing her bit on this issue (yes you read that 🙍♀️)
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🧠Things that make you go hmmm🧠
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💰Stripe in Africa💰
Stripe hit the news this week (yep the other payment platform beginning with an S not run by Twitter's Jack Dorsey) that still isn't public. hit the news this week with its announcement of the acquisition of Paystack for $200m. This is one of Africa's biggest exits from a startup out of Lagos, that, like Stripe, provides a quick way to integrate payments services through APIs.🤔
For Stripe, it's a big bet on Africa's payment growth and helps with its Geographical expansion ahead of an eventual IPO, and for Paystack helps add a lot of money and expertise to build out further in Nigeria and expand to other markets (its CEO said)🌍.
Like Stripe, Visa and Tencent were also investors in Paystack, so undoubtedly they got a closer look at how things were going💸
You can read more about it here
So what?: The ecosystem in African is hotting up
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🙍🏾♀️All the way up🙍🏾♀️
GV (formerly known as Google Ventures) promoted Principal Terri Burns to investing partner and with that, she now writes the checks. Given Teri is 26, black, and a woman, and hasn't lead an exited startup, this is a meteoritic rise for Burns who will be GV (and possibly one of the industries youngest-ever partners)🧐.
To give some context, Fortune noted, The number of female decision-makers grew from 9% at the end of 2017 to 13% in February, according to data from All Raise. But just one Black woman was named a partner at any VC firm in 2019. Black people made up just 0.67% of all entrants to the industry between 2010 and 2015.😲
Well done Teri!🙌🏾and you can read about it more here
So what?: There is now a new role model for black people and women in Venture
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🏃🏾♂️If you don't like it, we'll pay you to leave🏃🏾♂️
Crypto company Coinbase hit the news a few weeks back with its Apolitical stance. Yep CEO Brain Armstrong said “We don’t engage here when issues are unrelated to our core mission,” because "we believe impact only comes with focus.” He cited “strife” at other tech companies over issues like racism and politics, and asserted that employees want “refuge from the division that is increasingly present in the world.” 🤔
In reality, that means, employees are discouraged from debating causes or politics internally and from taking up activist causes at work. This caused quite a stir with the likes of Jack Dorsey criticizing the move and others noting it won't work with others questioning the philosophy of it🧠
Well Brian Armstrong said some may not like it and resign, and it looks like 5% of folks took him up on that, and took advantage of the juicy severance package on offer🤑. His investors may not be as content with that stance or loss of talent though (if Serena VC's, Serena William's venture arm, actions speak for themselves)🎾. So what?: Should companies be apolitical? We suppose if the employees didn't like it, they had a decent package to go elsewhere. Whether it's possible to be an apolitical organization is another issue. Afterall doesn't silence equal complicit🤔
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💃🏿Don't call me BAME(by)🕺🏾
We saw a couple of articles floating around about the problems of BAME. Long story short as Charmaine Hayden, who is currently raising money for her venture capital fund GOODsoil, notes, “It groups together a bunch of people and enables people to leave out, say, black people” 👀
In a week where we saw that ethnicity pay gaps exist for "BAME" folks exist, there is definitely a nuance to the picture as this graph shows🧐
Read how sifted breaks it down the term here
So what?: Can we have more nuance please but let's not forget the bigger picture. If you are from a minority group, you're likely to earn less
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📈 The tools behind the tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Events and opportunities 🌐
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💻A cool job 💻
Our Friends at UnLTD are looking for a Digital manager.
For those who don't know, UnLtd is the leading provider of support to social entrepreneurs in the UK and offers the largest such network in the world. They backed us and their mission is to find social entrepreneurs with bold solutions to today’s challenges.
Read more about what they're looking for here and the deadline for the role is 29th October 2020 at 10am
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📚Free CPD from Microsoft worth £1500 - We have an exclusive Free link 📚
- Eligibility — Founder, C-suite and next level down (VP/Director/Heads) would be most appropriate — to ensure the quality of learning experience, it's best if delegates are of similar level with decision-making authority and who have direct input on strategic business decisions.
WHAT YOU GET
- Leaders Who Coach — You'll find extensive details, videos and curriculum at leaderswhocoach.today.
- At a high level,
- Providing leaders with coaching (conversation) skills and structures to amplify their leadership with a specific focus of delivering on their business and people targets
- On Enrichment Plan, you work through one skill each week and join weekly live tutor sessions — 90mins per week with me to review learning, assignments, discuss case studies and typical scenarios, and practice LWC coaching skills
- Access to all 100 video lectures (9.5 hours) spread across 4 competencies and 12 skills
- 13 short quizzes (min. pass is 80%) and 13 practical role-related assignments — completion of each skill quiz and assignment releases the next skill
- Completion certificate for all delegates (subject to passed quizzes and approved assignments)
- Delegates will have access to all content for 24 months as well as ongoing support emails from me
- Application Deadline: Sunday 25 October 2020 - Apply Here
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🙌🏾The latest from the Colorintech team🙌🏾
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💻You can still watch Black Tech Fest 💻
It's got the biggest collection of Careers, Digital training, speakers, and opportunities that are still available
Whatever you're looking for you can find it there.
- 👥Ideas and best practice
- 📦Free stuff
- 📨Jobs
- 👨🏿💻Digital skills
- 🤳🏾Speakers and celebs
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😎And that's the bottom line😎
👊🏾Let us know what you think if you have any feedback on the newsletter here👊🏾
📩If you think someone else would enjoy it, they can sign up here📩, you can forward it or you can share
  
🤗In these challenging times, we hope you and your loved ones stay safe.🤗
❤️Love, peace and happiness from the Colorintech Team!❤️
21/10/20
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