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🗞️Diversity and inclusion news🗞️
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💰Pay gaps and Salesforce's Equality drive💰
So in the past few weeks, we've reported on Microsoft, Starbucks, and HSBC, so this time around its Salesforce's turn.
The big blue cloud company, that interestingly calls their efforts to tackle injustice " Equality" over other fluffy corporate terms that hint at that 🤣, told the world how they are doing.
- They've seen accelerated growth of Black representation in leadership (VP+). The representation of Black leaders has increased by more than 50%. In addition, the population of Black Women leaders in the U.S. doubled — albeit from a small base. Overall Black representation is up 0.5 percentage points though🤨.
- Over the last year, the URM (Black, Indigenous, and Latinx) community in the U.S attrition is down 31% and is lower than the total company attrition👀.
- There is still work to do though, The non-US picture appears to show there is more work to be done away from home😒
Interestingly they did say In 2020, they spent $2.1 million to address any unexplained differences in pay, totaling more than $12 million spent to date to ensure our global workforce is paid fairly. For those who are wondering "how to fix a pay gap?", we wanted to share this article💸
If you want to hear more about what they're doing, check it out on Black Tech Fest when Ashleigh (Our CoFounder) interviewed the salesforce team😲
Here is the link to the Salesforce equality update (image credit Salesforce)
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😒Racism of covid coverage 😒
We wanted to share a few articles that also caught our attention.
One was on the racism of covid coverage.
What exactly is that? Well, have you ever considered why we hear less about Thailand's or Vietnam's approach to covid? Well, let's posit it could be because of Structural Racism in the media rather than a " genetic component in which the immune systems of Thais and others in the Mekong River region are more resistant to the coronavirus?" <<< Yes that was written here by the New York Times 🙄
The second was on who should decide when algorithms should make important decisions? Perhaps the people who bear the risks of algorithmic systems should get to determine whether — and how — they’re used. Take a look at this article and check out our BTF content on this topic or watch a video on what the experts think ( Link)🤓
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🧠Things that make you go hmmm🧠
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👩🏾⚖️The other Election result👩🏾⚖️
Unless you've been living under a rock somewhere ( or one of the 3bn People who don't have access to the internet), it was almost impossible to ignore that the USA had an election🇺🇸
Possibly for tech, apart from another week of stock rallies, and the battles on disinformation, the implication of another thing on the ballot in California had huge ramifications for gig economy workers, future business models, Uber and Lyft🚖
The proposition Californian's voted on, meant the ride-hailing companies will effectively be exempted from a law that would have pushed such drivers to be classified as employees. Ultimately this is a win for those app-based companies who keep drivers as contractors, not employees, and therefore don't have to offer or comply with a raft of other employment-related protocols. Read more here🚗
So what?: The last week, has shaped the future of tech enormously
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🤑How much should I be earning?🤑
An impact of Covid-19 has been increased unemployment. Traditional logic would suggest, this would suppress wages (demand and supply and all of that), so we thought, How much should we be earning?🤔
Thankfully the team at Kandidate, did some research for us on what folks at startups thought. Check out the whole article from sifted here, but some highlights are
- 🆙Salary expectations for roles in data science and business intelligence soared by 30% between January to September 2020 to £35k
- ↘️For roles in operations, strategy, finance and HR, expectations dropped by 15% to £47k
- ⬇️Marketing, community, and PR has been the most impacted department, with a 24% drop in salary expectations to ~£30k
So what?: For those out of big tech, who aren't technical, you may need to revise your salary expectations🧐
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💁🏿♀️Imitation is the best form of flattery💁🏿♀️
A few weeks back, Snapchat announced bumper results which sent its stock price rising📈
Well, the Facebook company isn't known for just sitting back and watching, so it caught our attention this week that Whatsapp (owned by Facebook) announced the launch of a feature that operates VERY similarly to one of Snapchat's key ones (Disappearing messages)👀.
The key difference is the Whatsapp messages will be around for a week before going, but it's an interesting development, given some of Whatsapp's competition such as Snap and Telegram have similar popular features🤔
So what?: This isn't the first time Facebook has integrated popular Snapchat style features into its products, remember statuses in 2017 on whatsapp, or disappearing photos on Instagram in 2018. The snap team must be used to it by now, so let's just say imitation is the best form of flattery😅.
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🌍Africa's Biggest Seed round🌍
$10m - Yep that's the story 🤣
Nah we are joking. Congrats to the term at Nigeria’s, Kuda, who raised $10M to develop their mobile-first challenger bank for Africa.🙌🏾
After the news about the Paystack exit, the scene on the continent is very truly hotting up with this news. Since its launch in September 2019, Kuda is processing $500m worth of transactions a month and has over 300k customers (For comparison, Starling bank here in the UK which is rumored to be raising 200m, has 1.9m customers)😲
Kuda's newest investors include and Oliver and Lish Jung ( angel investors in Nubank, Revolut, and Chime) so this is one we'll definitely be watching👀
So what?: Fintech in Africa has started a new growth phase🤔
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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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💻Colorintech is hiring 💻
🙌🏾YES WE ARE!🙌🏾
We're on the lookout for someone to join our team to help support the growth of our community and content plans😁
The role is out on Linkedin, so check it out there or on our workable here. Oh and if you know someone, spread the word 😊📣
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💼Did somebody say... 💼
It's a great time to be in the takeaway business. Afterall, they couldn't have wished for more given here in the UK all restaurants are shut for eat-in services.😅
Fresh off the back of their M&A with Takeaway.com our friends at Just Eat are hiring for a head of External Affairs.🧐
Check out the link here, and check out Blacktechfest if you want to hear from some of the folks you could be working with there🍔
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🙌🏾The latest from the Colorintech team🙌🏾
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😃Double the ... Opportunity😃
We've got two free programs open for applications at the minute and we want to help YOU!😉
1. If you're an entrepreneur, or know one, we're searching for founders for our Rise program which we have Atomico and M12 (Microsoft Venture Arm) supporting. Watch out for a few cool announcements, We've got the coolest startup digital goodie bag going💸 Apply here
2. If you're looking for your first role in tech, We have a program supporting you. Our partners, eBay, Arm, and Google are involved too so check it out here 👔
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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!❤️
11/11/20
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