Introduction
We’re fortunate to be living in the age of the technological gold rush. Every day, more and more individuals are leaving their jobs to either join or found their own tech start up or become a key member of one. Graduates are no longer waiting for employers to offer them jobs, they’re creating them, most importantly, and the new age entrepreneur is glorified through articles, shows and featured films. Simply put, it’s cool to be an entrepreneur.
Now let’s flip the script. According to Quartz (qz.com), of the 114 early stage start-ups at Y-Combinator, only 4% are African American founders. In addition, according to a CB insight study, only 1% African American led start-up companies are funded by venture capitalist in 2010. As a result of a lack of diversity, we have yet to see African American and other minority tech superstars.
It’s not like they’re not out there. However, the support system behind a minority based start-up is relatively miniscule compared to White, Asian and Indian based start-ups. We’re not encouraged to learn how to code, or we’re not thought how to run businesses in our schools. And our kids would rather become the next social media sensation as opposed to developing the next million dollar idea.
I believe that once there’s a solution that’s engaging, interactive, and transparent in its message and purpose, we will start to see more minority kids take an active interest in wanting to dive into the world of tech, and entrepreneurism in
In the late 1800’s, a lot of change was being brought upon the United States, especially on the west of America. New things were established and found in west states, such as Nevada and California. Many of these new establishments helped freed slaves find living as the gold mines were a huge ideal to foreigners traveling from the south and midwest. The Gold Rush was found in Sierra Nevada during 1848, when gold was found in a mine. This completely changed the popularity and population of California. Although, for many people who wanted to travel to mine for gold during the Gold Rush, it was a tough journey as there was no true railroad nor steamboats yet to be taken to the west. With the rise of exposure for the Chinese population in San Francisco,
The gold rush was the turning point of Australia’s history thanks to Edward Hargraves he discovered gold in New South Wales in April 1851 and soon the gold rush kicked off. Clear evidence has been provided on how Edward Hargraves started the gold rush started, Information on how push and pull factors influenced people to the gold fields. Stories have been recounted on how life during the gold rush was like in the gold fields. Information on how many numbers of migrants came and where they came and what transportation was used
According to Templeton in BlackEnterprise, "Almost half the states recognize the dramatic shortage of capital and have created targeted loan programs for black and/or minority businesses. Yet only 2% of SBA loans go to African American firms.The same ratio holds for federally-financed transportation spending and for federal procurement."
In 1849 gold was found in the American Southwest, and the great California gold rush began. Soon gold some nuggets but mostly dust was being shipped to San Francisco Los Angeles and eventually the world beyond. As shipments of gold dust by stagecoach increased attempts to waylay them by gangs of desperate vicious highwaymen increased as well. Charley Parkhurst a stagecoach driver in California widely known for his driving skill was hired to deliver shipments of gold dust. On one trip Charley was stopped by a gang of tough violent outlaws. Charley despite his misgivings gave up the express box on demand but added "I wasn't expecting this but the next time you stop me I’ll be ready for you." Charley was too. Soon afterward Charley was stopped by another gang of outlaws.
Many folks that live in a dusty small town whoop and holler as they get ready to head out across a vast prairie in wagons that are in groups of four, while others load up all their belongings, and head towards the ships that will take them across stormy waters, and windy seas. These people are all heading out of town for the same reason, to find gold. The California Gold Rush was a time for success, glory, and of course gold. That is what most people believed considering it was a treacherous and extremely long journey to reach California and get gold that might not be found. During the beginning of the California Gold Rush, numerous people had the opportunity to strike gold and become extremely wealthy, but they had to undergo the challenges
A Gold Rush is a new discovery of gold sometimes occupied by other precious metals and rare earth minerals that brings an onrush of minor seeking their Fortune. Major gold rushes took place in the 19th century in Australia, New Zealand, Brazil, Canada, South Africa, and the United States while smaller gold rushes to place elsewhere. The welfare result English tribute Wiley because of reduced migration causes and low barriers to entry. While gold mining itself was unprofitable for most acres and mine owners some people made large large Fortunes in the merchants and transportation faculty made large profits. The results in increase in the world's gold Supply stimulated global trade and investment. Historians have written extensively about the
The California Gold Rush was a spectacular event in California’s history. It occurred from 1848-1855. Many people migrated to California to find the gold that was said to be there. This changed California from a dreary and unpopulated place to a thriving and happy place to be. Not everyone struck it rich, though, not even the person who discovered it, James W. Marshall. California’s motto, Eureka, is a reference to the Gold Rush. The California Gold Rush was a life-changing event for many people and is still thought of today.
An entrepreneur has to be willing to take risks and overstep boundaries that exist in the business world. Entrepreneurship is not only about creating new business models but also about being innovative and improving on already established structures. Entrepreneur Gary Salomon, co-founder of FASTSIGNS International, demonstrates how essential improvements can make a difference. I decided to interview Mr. Salomon because of the success he was able to establish by being innovative. As a future entrepreneur I want to be able to identify future business ventures that have already been established. My reasoning for this interview was to gain insight of how a small venture can grow to be as large as that of FASTSIGNS. Mr. Salomon successfully identified an industry with growth potential and took the risk to start his own venture. His intention was not to recreate the sign industry as a whole, but to advance the technology being used, as well as, adding professional elements.
The nerve to think that after all that I said she still thinks that I’m going to pack right now. The whole thing makes my head rush. There is nothing that I could do but just think, seeing how in anyway she thinks that this is a good idea.
Richard L. Zweigenhaft and G. William Domhoff continue their study of what once was a white male power structure of business world in their 2011 book, The New CEOs: Women, African American, Latino, and Asian American Leaders of Fortune 500 Companies. In this recent study, the authors explore the broad theme of diversity by studying the seventy-four women and people of color in the chief corporate officer position of Fortune 500 Companies. Zweigenhaft and Domhoff (2011) conclude that small diversity within the top of the corporate body does not signify or translate into an open society oriented on equality of opportunity, education, and income. American society is still greatly circumscribed by class, color, and gender, if have not become even more divided economically than it was before because of diversity as it was implemented by the top corporations (Zweigenhaft & Domhoff, 2011).
There are a number of non-profit organizations for black and minority businesses that are created to help out African-American entrepreneurs. These organizations are valuable resources that provide grants, support, assistance, networking, and seminars to business owners. Some also extend their support to minorities such as asians, hispanics, native americans, and other ethnic communities.
Arch Grants is interested in increasing their diversity metrics by appealing to certain communities, encouraging them to apply to their program and fostering an inclusive environment at their company. Arch Grants offers a unique experience for startups: equity free cash, an extensive support system, and a prime location to begin a business. In the past, Arch Grants has been key in promoting startup culture in the St. Louis community by bringing in over fifty companies and establishing them in the city. But, the diversity of these teams does not parallel the diversity of the United States today; these teams have been mostly homogenous, lacking the diversity that the United States is known globally for supporting.
There is a diversity problem in Silicon Valley. Why is there such a diversity problem you might ask? Some of the issues lie within the companies that are doing the hiring. There are many companies that are coming up with diversity programs to try and help alleviate the problem by encouraging minority groups to get involved in the Information Technology fields. Another part of the problem is getting minority groups involved as children. Research has been done to show that 77% of parents do not know how to assist their child to pursue a career in the Information Technology Field.
Minorities in America are the fastest growing consumers of technology, ranging from smartphones to social media, But not only are the absent from having any input on how these products are being created and developed, it is even more difficult to gain entry into. At the heart of the question is how to develop tech communities of people who don’t just consume media, but who create it and can then use it to solve problems in their communities. While it is apparent that the population of minorities in Silicon Valley is low, it is difficult to uncover the explanations for these depressing demographics. There are two categories of intersecting obstacles for minorities wanting to get a foothold in the technology markets. There is a deficiency in access to technology and computer science educational programs, and there is a lack of venture capital available to minorities. These two factors create a deficit of collective capital required for potential minority entrepreneurs to broker deals for investments.
Why do you think that business investor Ron Conway says it might be harder for African-American entrepreneurs to be recruited by Silicon Valley investors? What do you think these investors should do, if anything, to encourage investment in minority-owned startup companies?