![]() ![]() “It’s making me and a lot of people realize that the media’s coordinated anti-tech campaign over the last 6yrs has been a lot more effective than we thought.” The bank run isn’t actually the biggest thing-the reaction to it is,” tweeted Flo Crivello, a former Uber product manager who is now CEO of a remote work tool company. “The events of this weekend change things. While getting ratioed in their own tweet threads, the wizards of tech seethed that so many didn’t see what they could. The response to Silicon Valley Bank’s collapse shows people no longer buy the tech industry’s delusions. Silicon Valley had birthed “the greatest wealth generation engine this country has had for the last 2 decades,” said Austin Federa, a spokesperson for the crypto blockchain Solana, and a bailout was essential to save a cornerstone of the American economy. Since the bank started to buckle late last week, tech luminaries have taken time out of their busy schedules of doing innovation to tweet about how everyone rooting against a bailout of Silicon Valley Bank simply doesn’t get it. “And that’s just ridiculous.Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.ĭuring the Silicon Valley Bank collapse, people in tech started to realize something: a lot of people really don’t like them. “When I walk into a bank, if I don’t have my husband with me, I may not get the loan,” she said. Pinckney said her experience has inspired her to lend support to female entrepreneurs, because she doesn’t want others to experience the same kind of pushback she encountered. ![]() “I was the first woman to export food in the U.S., and therefore I had to smoke a lot of cigars with a lot of guys to get my food shipped to Europe.” “I had to kiss a lot of male behind to get things done,” she said. So until this case came to the forefront, I had no idea what was happening in the industry,” she said.Ī chef who founded a successful company called Mattie’s Pies – “We were the official pecan pie of the 1996 Olympics, that’s my claim to fame”– Pinckney said she was all too familiar with gender bias in the business world. “I just always thought that in this part of the country, there would be a lot more diversity and a lot more opportunities for women. Lisa Pinckney said she viewed the case as an outsider, since she’s new to California and has never worked in tech. ![]() And we’re trying to get more women to invest as angels into these companies, because a lot of women have the resources to invest, and their money ought to speak to this issue.” “Things haven’t changed a whole lot, except that now I think there’s more support for these women. “Anna and I have been entrepreneurs … for 20-something years,” Maier explained. Nevertheless, the entrepreneurs at Maier’s party said women operating in Silicon Valley’s business environment have developed a strategy for getting ahead: building up networks of women investors and entrepreneurs. But from 2011-2013, companies with women at the helm only received three percent of total venture capital dollars invested. The number of women partners at venture capital firms has actually taken a nose dive in recent years, going from 10 percent in 1999 to six percent in 2014, according to a Babson College report released last September.įirms with women partners are three times more likely to invest in companies led by women CEOs, the report found. And the top of the pyramid is always going to be slower to change.” But that’s the very, very top of the pyramid. Founder and CEO Anna Zornosa, who created a Burlingame apparel company called Ruby Ribbon, said she thought Pao’s gender discrimination suit “really drew attention to the fact that there aren’t more women general partners in venture capital. ![]()
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