10-23-2023 Black Startup Founders Grab Just 0.13% of All Venture Capital Invested in Startups in Q3 2023

Lots happened over the weekend and we’ve sifted through them to bring you the top five so far. Plus, we expanded our Palate Cleanser section today and we’re excited about an upcoming web summit in Lisbon.

Today’s Top 5 News Stories in Tech, Race, and Gender

1 / Black Startup Founders Grab Just 0.13% of All Venture Capital Invested in Startups in Q3 2023

At this point, low funding numbers for Black-owned startups isn’t news. This story stood out because of the sharp drop in funding rates for Black startups in just one year.

Out of the $29.9 billion invested in startups from July to September this year, Black-run startups captured just $39.7 million of it. That’s a 1.1% decline from last year’s, already dismal, fundng numbers.

Yet, Edward Blum pushes forward with initiatives to bring ‘equality’ to startup funding by suing a venture funding group focused on supporting Black woman-owned startups. Make it make sense.

hat tip: People of Color in Tech

2/ Criminals Clean Crime Cash with Coins - Bitcoin

When I was growing up there was a storefront commercial space around the corner from my house. When I was very small it was the place where we got hoagies (subs). In my pre-teen years it became a barber shop, but my brothers didn’t go. A few months later it was burned down with no culprit found. The owners re-built immediately. This time it was a women’s hair salon.

I found out later that it was a front for converting drug money into legitimate money in the commercial ecosystem. That was very analog, of course. But today the principle is the same. It’s just virtual funds instead of storefronts. This story highlights the similarities and slight tech differences of today’s money laundering schemes.

3/ China-based Journo Turns to Social Media to Publish Pro-Democracy News

4/ The U.S. Chip Embargo with China Gives New Life to China-Grown Chipmakers

5/ ️Watch Out! Russia-Based Security Researcher Uncovers Data Leaking Glitch in Your Telegram App

What’s Happening in Tech

We’re excited about Web Summit coming up next month in Lisbon, Portugal. It features several women and Black and Brown people as experts in their fields.

Palate Cleanser

More Good News in Tech Race and Gender