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Speaker 1: I'm Will Lucas and this is Black Tech, Green Money.

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Speaker 1: Megan Holst and Alexander is a partner at Andries and Horowitz,

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Speaker 1: where she leads the Cultural Leadership Fund, Silicon Valley's first

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Speaker 1: venture capital fund consisting exclusively of black culture leaders and

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Speaker 1: organizations committed to black wealth generation. Megan oversees colf's dual

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Speaker 1: mission of connecting the world's greatest cultural leaders, including athletes, entertainers, musicians,

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Speaker 1: and sea level executives, to the best new technology companies

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Speaker 1: and engaging in elevating African Americans in the technology industry.

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Speaker 1: Black culture has long influenced global trends and you talk

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Speaker 1: about dance, music, food, you know, across the board fashion,

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Speaker 1: We influence all of it, but the economic participation hasn't

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Speaker 1: always been there, has lagged, And I wonder what your

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Speaker 1: thoughts are on how black investors and entrepreneurs can better

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Speaker 1: capitalize on the culture that we helped create.

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Speaker 2: Yeah, absolutely so, So that's a really good question, and

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Speaker 2: you are that is all factual and we've seen it,

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Speaker 2: you know, from even back in the day, in the

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Speaker 2: early days of in the early days of music in

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Speaker 2: different genres and hip hop like that has persisted that

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Speaker 2: the early contributors, quite frankly, were not kind of paid

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Speaker 2: and compensated equal to their input into the success of

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Speaker 2: that thing. And so for us, you know, we specifically

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Speaker 2: invest in tech. So my lens is around wealth generation

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Speaker 2: in technology, especially for black people. And I think there's

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Speaker 2: there's three way to do that in tech. Three ways

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Speaker 2: to do that in tech. The first is investing early

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Speaker 2: into the best new companies. And so when you think

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Speaker 2: about companies that have grown and IPO that we all

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Speaker 2: talk about, the you know, the facebooks and ANBs and

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Speaker 2: instacarts of the world, a lot of people who made

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Speaker 2: money when those companies went public were investors ten years

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Speaker 2: before that, right, So they were in and the seed

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Speaker 2: and the Sea and the Series B. So one of

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Speaker 2: the core things that I do in my role is

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Speaker 2: help black investors get on those early cap tables. How

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Speaker 2: do you invest in Facebook in two thousand and five?

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Speaker 2: So that's the first thing. You have to be an

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Speaker 2: investor early. The second thing is early employeehood. It's kind

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Speaker 2: of in a similar fashion, the folks who go and

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Speaker 2: work at the company when it's ten or fifty or

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Speaker 2: one hundred people have the opportunity to earn early employee

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Speaker 2: equity and that grows over time and turns into something

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Speaker 2: meaningful should that company have a really great liquidity event.

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Speaker 2: So working in tech early and sometimes that can be

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Speaker 2: a big risk. You never know how it will turn out.

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Speaker 2: But the reward of something like that, especially if it's

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Speaker 2: an area you're passionate about, can pay off immensely you

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Speaker 2: having that impact early with that company. And then the

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Speaker 2: final thing is actually putting capital into the hands of founders.

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Speaker 2: We love seeing them be able to build and grow

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Speaker 2: their businesses. And that's one of the true ways to

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Speaker 2: build wealth from your contributions and tech is it is

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Speaker 2: starting a company.

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Speaker 1: And so I want to touch on Megan first. Of course,

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Speaker 1: there's a lot of ways I'm going to go off

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Speaker 1: of what you just said, but I want to make

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Speaker 1: I should people people understand who Megan is first. And

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Speaker 1: so you know you grew up in Montgomery, Alabama, correct, yes, sir,

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Speaker 1: deep history that city does in civil rights, deep deep history.

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Speaker 1: How did that How to growing up in that environment

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Speaker 1: influence who you are today?

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Speaker 2: That is a big question because but I guess the

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Speaker 2: answer is simple, because it's like everything. The things that

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Speaker 2: people read about in books are the things that I

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Speaker 2: saw growing up. It was in the water I drank

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Speaker 2: growing up as a kid, Right folks read about the

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Speaker 2: bus boycott and rows of parks. I would be walking

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Speaker 2: downtown and there's a sign of this is where Rosa

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Speaker 2: Parks did not get off the bus, right, this is

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Speaker 2: where this happened. This is where this happened. So it

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Speaker 2: was really in front of my face on a constant basis.

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Speaker 2: And so when I left to go off to college

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Speaker 2: to Clark Atlanta, I very much carried those things with me.

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Speaker 2: Also important kind of part of growing up in Alabama

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Speaker 2: is that both of my parents went to HBCUs. So

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Speaker 2: this culture around black evolution and black empowerment and black

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Speaker 2: independence has kind of been a part of my story

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Speaker 2: for a very long time, and I still very much

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Speaker 2: hang on to that now and use it in the

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Speaker 2: way that I work. I am very focused on how

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Speaker 2: do I support this community, in the words of Beyonce

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Speaker 2: getting everything that came for? How do I support growth?

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Speaker 2: How do I support wealth generation and economic development? And

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Speaker 2: that's also one of the really I think special reasons

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Speaker 2: about why I came back. So I left in two

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Speaker 2: thousand and six to go to college in Atlanta. Shout

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Speaker 2: out to CAU And I was gone until twenty twenty two.

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Speaker 2: I didn't live here anytime in between that, and when

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Speaker 2: COVID hit, a really great opportunity to move back home

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Speaker 2: bubbled up where I could still do this work in

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Speaker 2: Silicon Valley and with this this this fund, while also

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Speaker 2: doing it from home and contributing here. Because a lot

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Speaker 2: of brain drain happens across the South, whether it's Mississippi

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Speaker 2: or Alabama or Louisiana. How can I come back and

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Speaker 2: be a contributing member because I have a home here

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Speaker 2: and I know that there's so much potential in the

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Speaker 2: things that it could be. So a special shout out

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Speaker 2: also to our mayor, the first black mayor of our city,

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Speaker 2: Stephen Reid, is also a product of someone coming back

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Speaker 2: and really wanting to make a difference, and so I

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Speaker 2: appreciate his support and have loved tapping in with him

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Speaker 2: on ways to make our city better and help it grow.

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Speaker 1: You know, I want to touch on this Threugh. You

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Speaker 1: just mentioned the line there, you know, being able to

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Speaker 1: make a difference. I want to touch on that thread

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Speaker 1: because like you started off in like nonprofit work and

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Speaker 1: you still sit on some boards today. I believe in

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Speaker 1: the nonprofit world. And at the risk of putting this

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Speaker 1: the wrong way, so I'm gonna I'm going to preface

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Speaker 1: this for the audience. I'm trying to make the I'm

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Speaker 1: trying to figureut how to say this. So, sometimes we

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Speaker 1: pursue nonprofits when we should as a people be building companies,

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Speaker 1: like and like where I'm from, like we over we

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Speaker 1: have more nonprofits per capita. That's just a fact that

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Speaker 1: we have. We have more nonprofits per capita than anywhere

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Speaker 1: else in the country. And too often, like we as

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Speaker 1: just a people, in my view, pursue nonprofit work when

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Speaker 1: we could go build a company and put resources back

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Speaker 1: in the community. Is that is that? Okay? Just say

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Speaker 1: it that way. I think that's okay, okay, okay. So

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Speaker 1: with that, now that you're doing you're making a difference.

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Speaker 1: I think about doing well while doing well. And so

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Speaker 1: with that said, like, what are the yes? Yes, And

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Speaker 1: she's one of the people out there talk about it.

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Speaker 1: It's like, what are some of the mindset shifts for

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Speaker 1: the people who should be pursuing business. What are some

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Speaker 1: of the mindset shifts that need to happen in order

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Speaker 1: to be successful there, Like, what do you say to

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Speaker 1: all the things I just put in that gumbo right there.

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Speaker 2: Yeah, that's really important because a lot of times when

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Speaker 2: we think about helping people or supporting the community, we

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Speaker 2: automatically think of nonprofits because that's who we see out

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Speaker 2: active doing the work, right if you're if you're doing

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Speaker 2: a direct service nonprofit, where you're in schools, et cetera.

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Speaker 2: We grow up and we see those things, and so

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Speaker 2: it's very easy easy to think that that that's the

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Speaker 2: only way, Like with most things in life, as you

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Speaker 2: continue to go through you find out new versions of

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Speaker 2: a story and you start a big company and you

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Speaker 2: can give to nonprofits or you can do that sort

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Speaker 2: of thing, or you can be sure that you're I

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Speaker 2: don't know, running a sustainable company that's not you know,

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Speaker 2: damaging the water in your city, or you know, there's

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Speaker 2: all these things that you can do that are contributing

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Speaker 2: to bettering where you live. I do want to say that,

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Speaker 2: you know, nonprofits are companies, They're essentially the same. It's

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Speaker 2: just that that profit margin doesn't come back into into

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Speaker 2: the business. In terms of a mindset shift, I think

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Speaker 2: it's just about thinking about early what are the many

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Speaker 2: ways that I could do this. Oftentimes it's like a

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Speaker 2: like an association game. It's like I want to give back,

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Speaker 2: I have to do nonprofit. It's about maybe taking a

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Speaker 2: pause and thinking about what are the structures and what

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Speaker 2: are the different ways, and what are the things that

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Speaker 2: my community actually needs because it may not actually be

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Speaker 2: a specific, you know, new nonprofit. The other thing that's

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Speaker 2: very important about that conversation is, and this is what

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Speaker 2: we work on a lot with our group, and when

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Speaker 2: I worked with athletes early on, and they're kind of

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Speaker 2: philanthropy and that work. Everybody doesn't have to start a nonprofit.

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Speaker 2: You can just support one. A lot of really great

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Speaker 2: nonprofits already exist, and what people don't realize is when

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Speaker 2: they start one, either you have to fund it yourself

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Speaker 2: or you got to go out and raise money. And

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Speaker 2: that tends to be the most difficult part, because the

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Speaker 2: capitals to sustain a nonprofit and do the work you're

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Speaker 2: constantly fundraising, constantly fundraising. So I often encourage people you

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Speaker 2: don't have to not do nonprofit work, but how do

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Speaker 2: you exponentiate your impact by doing it in a meaningful way,

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Speaker 2: doing it together? And so that's usually what I what

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Speaker 2: I try to encourage.

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Speaker 1: Yeah, I want to because you like when you say,

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Speaker 1: you know, it's a lot of work going to raise

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Speaker 1: money for these nonprofits. I think what I hear when

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Speaker 1: people go to start a nonprofit is they believe it's

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Speaker 1: easier to pull on the heartstrings and get you to

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Speaker 1: write a check to support this cause, and it is

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Speaker 1: to sell a product to a customer, which.

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Speaker 2: Is debatable, right, I'm sure it's one side is easier

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Speaker 2: to pull on the heart strings because some people are

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Speaker 2: great storytellers or you know, some people when you have

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Speaker 2: personal experience in a thing, Because what you often find

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Speaker 2: people want to start nonprofits that are focused on things

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Speaker 2: that they know about and they have experience, and it's

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Speaker 2: you experienced homelessness, or you experienced a certain disease. Telling

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Speaker 2: that story comes very naturally to you, which I think

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Speaker 2: sometimes can be a little bit more difficult in starting

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Speaker 2: your own company. But I would argue they're both probably

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Speaker 2: equally difficult. It depends on what your strengths are as

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Speaker 2: a person and as a storyteller. But I really encourage

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Speaker 2: people again, it's okay to start a nonprofit if that

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Speaker 2: essentially is the best way to actually do what you

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Speaker 2: want to do and that's not that may not always

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Speaker 2: be the case. And as we work, you know, in CLF,

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Speaker 2: we our second mission is how do we get more

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Speaker 2: young African Americans into the technology industry. We think a

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Speaker 2: lot of companies could benefit from having some of these

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Speaker 2: really great talented folks in them. And we do that

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Speaker 2: work through a donation program. So one hundred percent of

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Speaker 2: our management fee, all of our carrier, so every dollar

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Speaker 2: of profit that CLF makes goes back to organizations that

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Speaker 2: are specifically focused on that mission. And we tried early

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Speaker 2: on to build out our own program and we found

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Speaker 2: it like, that's not our zone of genius. There are

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Speaker 2: people who've been working to get more young African America

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Speaker 2: can then take for years and are doing it successfully

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Speaker 2: while we're over here trying to string something together. And

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Speaker 2: we would be better off and the students and the

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Speaker 2: people who we want to serve would be better off

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Speaker 2: if we put that capital into those companies, into those

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Speaker 2: those nonprofits. And so it really just is about how

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Speaker 2: to have the impact and the way that you are.

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Speaker 1: You know, I remember listening to I think it was

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Speaker 1: metro Boom and the producer talking about how difficult it

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Speaker 1: was to get other rappers and artists who come from

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Speaker 1: where they come from to think about investing in a

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Speaker 1: certain way because they wanted to see the return like

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Speaker 1: right now quick? Yeah yeah, And so how so you

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Speaker 1: work with but.

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Speaker 2: We want to see the return quick and then also

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Speaker 2: don't want to take the risk.

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Speaker 1: Yeah yeah, so speak on that. So because you work

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Speaker 1: with athletes, musicians, et cetera, you know, you help them

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Speaker 1: find deals, source deals, get into deals like how is it? Mindset?

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Speaker 1: You know, things that you have to work with them

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Speaker 1: more and to figure out, Okay, this is a different

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Speaker 1: type of investing where you're not going to see it.

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Speaker 1: You know, you may not ever see it, you know,

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Speaker 1: but you may not for years.

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Speaker 2: Yeah. So I would say a huge percentage of my

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Speaker 2: job is education. A lot of athletes and entertainers get

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Speaker 2: really lucky when they have a great team around them

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Speaker 2: that say like, yes, you need to do your public

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Speaker 2: market investing in your stocks, but also let me show

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Speaker 2: you this thing and are really teaching them kind of

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Speaker 2: the breadth of everything that they can be doing financially.

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Speaker 2: But most of my job is teaching people about investing

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Speaker 2: in technology, specifically at the early stage and what you

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Speaker 2: brought up is actually one of the most common important

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Speaker 2: things that I have to hammer in from the beginning

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Speaker 2: is that venture investing is a long term game. It's

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Speaker 2: we tell people eight to ten years, your money is

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Speaker 2: locked up. It's not a very liquid hasset where you

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Speaker 2: can come back and get it in a couple of years.

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Speaker 2: I tell people when they're thinking about investing in the fund,

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Speaker 2: I say, if you're going to be looking for this

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Speaker 2: money in two years, don't give it to me. Don't

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Speaker 2: give me your money if you're going to need it

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Speaker 2: in two to three years, because the likelihood is that

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Speaker 2: you're not going to be able to get it. Because

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Speaker 2: you know, when you think about the biggest companies when

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Speaker 2: they go public, there's usually a ten year period between

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Speaker 2: when they get ten years plus from when they get

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Speaker 2: their investment to when they actually have exit meaning a

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Speaker 2: liquidity event IPO, which is an initial public offering, are

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Speaker 2: called going public or m and a activity meaning they

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Speaker 2: get acquired or bought by a company ten years so

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Speaker 2: that money starts coming back to the investors. So that's

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Speaker 2: the biggest thing is venture is very much a long

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Speaker 2: term game, and venture is also risky. So depending on

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Speaker 2: what your risk profile is as an investor should determine

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Speaker 2: where you want to start investing. Maybe like you want

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Speaker 2: to be a little bit safer and you want to

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Speaker 2: put your money into two stocks or into you know,

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Speaker 2: some of the more lesser yielding opportunities. Venture it is

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Speaker 2: high risk, high reward, So you're investing your money into

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Speaker 2: companies that may not be operationally proven yet a lot

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Speaker 2: of times investing in companies that have no product. You

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Speaker 2: don't know if people gonna like it, people are gonna

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Speaker 2: hate it, but maybe you really believe in the team, etc.

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Speaker 2: And so teaching them about the holding period, teaching them

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Speaker 2: about the level of risk, meaning most of your companies,

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Speaker 2: most that you invest in will fail, you know, in

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Speaker 2: the early stage, but you're hopeful that you know, those

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Speaker 2: two or three or five that you invest in out

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Speaker 2: of the fifty will really knock it out of the park.

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Speaker 2: That is the goal. And then we also tell people third,

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Speaker 2: like the lingo. Once you learn the lingo of venture

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Speaker 2: and of tech and of investing, you're really ninety percent

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Speaker 2: of the way there. You can start making some really

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Speaker 2: thoughtful decisions around where you want to put your money.

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Speaker 2: Once you know how all of these things work. Together.

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Speaker 1: You mentioned something earlier about how the people who made

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Speaker 1: the money on facebooks and etc. Like we're either like

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Speaker 1: super dorouper early investors or early employees and those were

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Speaker 1: deals like we are people in our community weren't getting

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Speaker 1: in on those deals.

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Speaker 2: Yeah, and now they are with cl Yes.

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Speaker 1: Yes. And this is the question because I think about

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Speaker 1: I'm gonna give you the question that I'm gonna give

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Speaker 1: you the back of why I'm asking this question, like

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Speaker 1: how do you evaluate a cultural leader to you know,

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Speaker 1: have that opportunity? Who are the athletes, the and entertainers executives?

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Speaker 1: And here's why I ask is because you know, there's

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Speaker 1: a difference between like what you're doing in like a

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Speaker 1: reg CF, like you know, a crowdfunding campaign to where

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Speaker 1: we can get on you know, on those deals. But

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Speaker 1: you're not necessarily and you can clarify this like there's

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Speaker 1: not everybody can't go and put money in you know CLF,

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Speaker 1: but you're picking you know, you guys are finding strategic

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Speaker 1: partners that make sense for this fund. How how does

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Speaker 1: this make a difference over time to to where there's

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Speaker 1: more of us that are able to get involved.

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Speaker 2: Yep. So that's a really good question. Because when it

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Speaker 2: comes to investing in venture, there's a couple of things

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Speaker 2: that makes matter really great candidate. One kind of a

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Speaker 2: non negotiable is you have to have the capital to

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Speaker 2: invest and that requires either you know, obviously a certain

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Speaker 2: level of success or a certain level of of experience

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Speaker 2: over time that you're able to invest in venture. So

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Speaker 2: there's different requirements that you have to hit legally through

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Speaker 2: a government to invest in like a venture fund, et cetera.

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Speaker 2: The second thing is, uh, how useful and helpful and

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Speaker 2: supportive can you be of a tech company like this,

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Speaker 2: because that's what's going to get you access you have.

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Speaker 2: You have to have the capital, that's a non negotiable,

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Speaker 2: and then you have to get the access to the

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Speaker 2: companies to be able to put that capital. And usually

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Speaker 2: access comes from either having some expertise. Right, somebody's building

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Speaker 2: an auto company.

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Speaker 1: And you used to be a NASCAR driver at.

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Speaker 2: GM, you know what I mean? What are the ways

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Speaker 2: that you're aligned with the company that are also going

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Speaker 2: to get you into the door, So that can be

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Speaker 2: you know, on the entertainment side, that you have a

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Speaker 2: really great audience and people really maybe you're a big

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Speaker 2: time gamer and we have a bunch of games companies, right,

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Speaker 2: there's a lot of alignment. There's a lot of our

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Speaker 2: athletes are gamers, and we have a really we have

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Speaker 2: two games funds at the firm, and so there's a

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Speaker 2: lot of interesting alignment there. So I would say the capital,

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Speaker 2: the access the other thing that was important. I think

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Speaker 2: there was another part of your question, No.

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Speaker 1: I was talking about over time, how do more of

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Speaker 1: us have fine opportunities to be getting in on the

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Speaker 1: next facebooks, the next insta cards.

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Speaker 2: Yep. Absolutely. The other thing that's really exciting, and I

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Speaker 2: think a way that a lot of people are going

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Speaker 2: to become investors is there have been so many, I'm

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Speaker 2: sure you've noticed over the past probably four or five years,

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Speaker 2: so many new venture firms popping up. Obviously, you have

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Speaker 2: big ones like Injuries and Horrowitz, right, we've got forty

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Speaker 2: four billion dollars under management, But most funds are smaller

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Speaker 2: funds that have a specific focus. Maybe they only do

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Speaker 2: precede companies, maybe they only do fintech companies. And really

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Speaker 2: building relationships with the funds where you have a level

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Speaker 2: of expertise where you can get that access, I think

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Speaker 2: is going to be critical. It really is about doing

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Speaker 2: the research because I can't tell you how many people

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Speaker 2: waste time going to funds that maybe they've just heard

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Speaker 2: the name, but they have no idea what they do.

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Speaker 2: There are hundreds of venture firms out there that are

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Speaker 2: really looking for folks for their port codes to join

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Speaker 2: advisory boards, which also can get you a little bit

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Speaker 2: of equity. So that's a way to also earn actual

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Speaker 2: boards of directors. So say you're an executive in a

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Speaker 2: specific area, you can come on as like a pre

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Speaker 2: IPO board director. There's I think a lot of interesting opportunities.

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Speaker 2: It's just about getting in with really great founders and

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Speaker 2: then also figuring out which venture firms might align with

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Speaker 2: your investment interests. It's all about, I think, the capital

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Speaker 2: and then the access. A lot of access comes through

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Speaker 2: the people that you know and the founders that are

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Speaker 2: doing that work.

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Speaker 1: Can you talk about an example.

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Speaker 2: Because will now me and you know each other, and

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Speaker 2: if will you say to me like, oh, Magan, I've

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Speaker 2: got the capital, I've got a big podcast, I've got

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Speaker 2: a huge platform. I love to invest in tech. Now

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Speaker 2: I can keep you in mind for opportunities that come up.

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Speaker 1: Okay, we might have to talk here you go. Can

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Speaker 1: you talk about, like, can you share an example of

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Speaker 1: like a strategic partnership between like a cultural leader and

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Speaker 1: a technology company startup that has worked so far exceptionally well.

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Speaker 2: Two that I would probably share. Patrick Mahomes is actually

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Speaker 2: one of our LPs, and it feels really timely because

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Speaker 2: you know, they were just in the super Bowl. But

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Speaker 2: he plays golf and was really looking for a way

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Speaker 2: to support his nonprofit work and his philanthropy through he

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Speaker 2: has a golf tournament. We also have this other portfolio

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Speaker 2: company called Whatnot. I don't know if you've heard of them,

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Speaker 2: but it's like an online kind of live shopping company,

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Speaker 2: and they had mentioned they're like, we really want to

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Speaker 2: do more kind of in our impact work on our

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Speaker 2: nonprofit side. We're looking for the right opportunity, and we're like,

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Speaker 2: you know, kind of antenna's going off because we also

387
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Speaker 2: knew what Patrick was interested in doing, and so we

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Speaker 2: put those two together. They had a number of conversations

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Speaker 2: that over time evolved into a live streaming event. Obviously

390
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Speaker 2: you know through the fund that their investors, but he

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Speaker 2: had a live streamed his charity golf tournament and he

392
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Speaker 2: had a hole in one challenge and it was in

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Speaker 2: order to raise money for his nonprofit. He had it

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Speaker 2: was like twenty or twenty five chances to get a

395
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Speaker 2: hole in one to win for his nonprofit. And one

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Speaker 2: it's really great for the company because who doesn't want

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Speaker 2: to tune in and watch Patrick Mahomes try to hit

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Speaker 2: twenty five hole in one and obviously, you know, missing

399
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Speaker 2: every single one. That's really exciting for the company and

400
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Speaker 2: for that team to have him involved, but also really

401
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Speaker 2: great for Patrick because he wants to bring more attention

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Speaker 2: to his nonprofit it's called fifteen in my Homies, and

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Speaker 2: he wants to raise more money for them. And so

404
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Speaker 2: it's about matching the right person with the right company

405
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Speaker 2: on the right initiative, and they ended up raising Uh.

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Speaker 2: I want to say, I don't remember the exact number.

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Speaker 2: Don't quote me. I'll get it for you maybe after this.

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Speaker 2: But for his nonprofit, and it was really a win

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Speaker 2: win for both of them.

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Speaker 1: I love it. There is a there's a a learning

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Speaker 1: out there. I don't want to call it a fact

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Speaker 1: because there's depending on where you go, you find different numbers.

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Speaker 1: But they say the black dollar circulates in our community

414
00:21:45,400 --> 00:21:48,520
Speaker 1: for about six hours while you can go all the

415
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Speaker 1: way to you know, white communities and then the Jewish communities.

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Speaker 1: It's like thirty something days.

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Speaker 2: You know, what is the calculation.

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Speaker 1: That's what I'm saying. That's what I'm saying. Don't come

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Speaker 1: for me, don't cover me. I've already set the stage

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Speaker 1: for this.

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Speaker 2: And funny story, this is actually remember I told you

422
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Speaker 2: so background Will and I were talking about some time

423
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Speaker 2: I lived in Toledo before. I was actually studying sociology,

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Speaker 2: so it was a social science and I focused on

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Speaker 2: metrics and outcomes and like data. So all of my

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Speaker 2: work was statistics. Yeah, and so anytime somebody gives me

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Speaker 2: numbers like that, I'm.

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Speaker 1: Like, and again, I told you there's there's a lot

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Speaker 1: of different ones out there. I did not say that

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Speaker 1: this was a fact. I will not say as a fact.

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Speaker 1: But if you do people say this is only banks,

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Speaker 1: et cetera.

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Speaker 2: I'm giving you a we're good.

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Speaker 1: We're good because I did. I did a good preface

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Speaker 1: on that.

436
00:22:41,480 --> 00:22:43,960
Speaker 2: I feel like you did it was appropriate.

437
00:22:44,040 --> 00:22:48,399
Speaker 1: Yeah, I appreciate that. So the conversation around like the

438
00:22:48,760 --> 00:22:52,000
Speaker 1: power to black dollar and venture, how can we be

439
00:22:52,119 --> 00:22:55,479
Speaker 1: more intentional about circulating wealth? No matter if for six hours,

440
00:22:55,840 --> 00:22:58,479
Speaker 1: six days, whatever it is. How can we be more intentional?

441
00:22:58,520 --> 00:23:00,280
Speaker 1: Because and the reason I asked that is because we

442
00:23:00,480 --> 00:23:07,840
Speaker 1: are I would say, decently good at economic protests. And

443
00:23:07,880 --> 00:23:11,200
Speaker 1: then there's another conversation to be had on Okay, look,

444
00:23:11,280 --> 00:23:13,159
Speaker 1: where are we going to do instead? So are we

445
00:23:13,240 --> 00:23:16,080
Speaker 1: going to be buying from actively black? Are we going

446
00:23:16,160 --> 00:23:19,000
Speaker 1: to be buying from you know, these other black owned companies?

447
00:23:19,200 --> 00:23:20,720
Speaker 1: Like it's one thing to take the money away and

448
00:23:20,800 --> 00:23:22,080
Speaker 1: make it out of the system, but where are we

449
00:23:22,080 --> 00:23:22,600
Speaker 1: going to put it?

450
00:23:23,080 --> 00:23:27,080
Speaker 2: Yeah?

451
00:23:27,160 --> 00:23:29,280
Speaker 1: So how can we be more intentional? Is the question?

452
00:23:29,680 --> 00:23:33,639
Speaker 2: Uh huh uh. I think there's probably a lot of

453
00:23:33,680 --> 00:23:38,359
Speaker 2: opinions about how we could be more intentional. But you

454
00:23:38,400 --> 00:23:41,000
Speaker 2: know how, I don't mean to make a probably a

455
00:23:41,040 --> 00:23:44,440
Speaker 2: bad joke. You know how when somebody is dating somebody

456
00:23:44,960 --> 00:23:49,119
Speaker 2: and they say, oh, they never call me, and they say, well,

457
00:23:49,119 --> 00:23:50,320
Speaker 2: they make time for what they want.

458
00:23:51,560 --> 00:23:53,040
Speaker 1: That's great, that's good.

459
00:23:53,680 --> 00:23:56,080
Speaker 2: Similar to our dolls. It's probably the most random example,

460
00:23:56,080 --> 00:23:58,160
Speaker 2: but that's the best one I could think of. Is

461
00:23:59,040 --> 00:24:03,480
Speaker 2: if people want to buy black, they can. There's a

462
00:24:03,520 --> 00:24:05,399
Speaker 2: way to do it. Sometimes it takes a little bit

463
00:24:05,440 --> 00:24:08,440
Speaker 2: of work, right to find, you know, it's easy to

464
00:24:08,440 --> 00:24:11,600
Speaker 2: find maybe a black owned fashion brand. Maybe it's hard

465
00:24:11,640 --> 00:24:17,360
Speaker 2: to find black owned bathroom cleaner. Who knows, But if

466
00:24:17,400 --> 00:24:19,640
Speaker 2: you want to make that transition, you can. And one

467
00:24:19,680 --> 00:24:24,040
Speaker 2: of the probably in terms of like actually investing, if

468
00:24:24,040 --> 00:24:27,200
Speaker 2: somebody wants to make a percentage of their portfolio where

469
00:24:27,200 --> 00:24:29,119
Speaker 2: they focus on that. It doesn't mean you have to

470
00:24:29,200 --> 00:24:31,399
Speaker 2: only do that. But if you say, okay, I've got

471
00:24:31,840 --> 00:24:34,280
Speaker 2: one hundred dollars to invest, I'm going to put fifty

472
00:24:34,280 --> 00:24:36,760
Speaker 2: in the public mark and fifty over here, and I'm

473
00:24:38,119 --> 00:24:40,280
Speaker 2: eight percent adventure because venture should really only be a

474
00:24:40,320 --> 00:24:44,000
Speaker 2: single digit percentage of your total portfolio. Your whole portfolio

475
00:24:44,040 --> 00:24:46,040
Speaker 2: should not be venture. And then you say, of that

476
00:24:46,080 --> 00:24:48,520
Speaker 2: eight percent, I'm going to put four percent of that

477
00:24:48,760 --> 00:24:51,200
Speaker 2: into it to black companies. That's a decision that someone

478
00:24:51,200 --> 00:24:55,000
Speaker 2: could make, and so I think you know, I would

479
00:24:55,080 --> 00:24:57,560
Speaker 2: venture to say for those who are committed to it,

480
00:24:57,600 --> 00:25:03,399
Speaker 2: are doing it also this decision, like any other decision.

481
00:25:03,440 --> 00:25:05,760
Speaker 1: I love to hear that as that's encouraging. Actually, so

482
00:25:06,560 --> 00:25:11,080
Speaker 1: how do you think AI blockchain of emergency? Real quick?

483
00:25:11,359 --> 00:25:13,240
Speaker 2: I just also want to add there are actually quite

484
00:25:13,320 --> 00:25:19,640
Speaker 2: a few even if you just google, give me black

485
00:25:19,680 --> 00:25:22,359
Speaker 2: owned X, Y and Z companies, right am I hallucinated

486
00:25:22,359 --> 00:25:23,879
Speaker 2: a little bit, but like it'll probably get you some

487
00:25:23,880 --> 00:25:27,920
Speaker 2: good answers. There's actually a couple of websites also that

488
00:25:29,560 --> 00:25:32,240
Speaker 2: list out different types of black businesses that you can

489
00:25:32,240 --> 00:25:35,399
Speaker 2: support us purchasing from or investing in. We're actually doing.

490
00:25:36,320 --> 00:25:38,359
Speaker 2: We just recently launched a partnership. I don't know if

491
00:25:38,400 --> 00:25:42,080
Speaker 2: you're familiar with the fifteen Percent Pledge. Yes, I am, okay, wonderful.

492
00:25:42,600 --> 00:25:45,040
Speaker 2: So fifteen Percent Pledge founded.

493
00:25:44,840 --> 00:25:46,159
Speaker 1: By I want to say, we had them on here,

494
00:25:46,200 --> 00:25:47,560
Speaker 1: We may have had them on the podcast.

495
00:25:47,320 --> 00:25:51,240
Speaker 2: For Oh Perfect, My Girl, Roa James. We just launched

496
00:25:51,960 --> 00:25:55,080
Speaker 2: this thing called the AI Illumination Grant and the goal

497
00:25:55,359 --> 00:25:57,680
Speaker 2: is and this actually might get into your next question.

498
00:25:57,720 --> 00:25:59,359
Speaker 2: So I'm sorry because I already heard you say AI

499
00:25:59,400 --> 00:26:04,400
Speaker 2: and crypto. But the fifteen Percent Pledge supports black businesses

500
00:26:04,440 --> 00:26:11,840
Speaker 2: both in beauty fashion, CpG, Perfume jewelry who are black owned,

501
00:26:11,960 --> 00:26:16,040
Speaker 2: getting shelf space in large retailers. They got several hundred brands,

502
00:26:16,600 --> 00:26:19,280
Speaker 2: if not thousands of brands on their website that people

503
00:26:19,280 --> 00:26:24,480
Speaker 2: can search and go support. We created grant together us,

504
00:26:24,720 --> 00:26:28,720
Speaker 2: the Cultural Leadership Fund, the fifteen Percent Pledge and Kevin

505
00:26:28,800 --> 00:26:32,720
Speaker 2: Hart's Heartbeat Ventures called the AI Illumination Grant, and it

506
00:26:32,760 --> 00:26:36,760
Speaker 2: is specifically focused on ensuring that the black founders that

507
00:26:36,800 --> 00:26:40,320
Speaker 2: are part of the fifteen Percent Pledge program don't get

508
00:26:40,400 --> 00:26:44,440
Speaker 2: left behind in the usage of AI because everybody's talking

509
00:26:44,440 --> 00:26:46,280
Speaker 2: about it, but it's not really clear where you start

510
00:26:46,359 --> 00:26:49,640
Speaker 2: and it's not really clear how to supercharge your business

511
00:26:49,760 --> 00:26:53,359
Speaker 2: using AI. And so we're doing thirty five thousand dollars grant.

512
00:26:53,400 --> 00:26:57,520
Speaker 2: We're hosting two webinars, one webinar on using AI for storytelling,

513
00:26:57,880 --> 00:27:01,680
Speaker 2: the second webinar on using AI product design for all

514
00:27:01,720 --> 00:27:03,840
Speaker 2: of the founders hundreds of founders that are part of

515
00:27:03,920 --> 00:27:06,680
Speaker 2: that program. And actually the first session is on March thirteenth.

516
00:27:06,760 --> 00:27:10,359
Speaker 2: I believe and like people are doing the work to

517
00:27:10,440 --> 00:27:12,760
Speaker 2: highlight black brands and now it's just a matter of

518
00:27:12,760 --> 00:27:15,240
Speaker 2: supporting them and being sure they're set up for success.

519
00:27:15,480 --> 00:27:18,679
Speaker 1: Yeah, it wasn't the podcast we had Aura at Afrotech

520
00:27:18,760 --> 00:27:20,440
Speaker 1: in twenty twenty two. That's what it was. I knew

521
00:27:20,480 --> 00:27:21,640
Speaker 1: would say, yeah, there you go.

522
00:27:22,320 --> 00:27:23,239
Speaker 2: The roar is about it.

523
00:27:23,480 --> 00:27:28,119
Speaker 1: Yeah. Yeah. So emerging technologies, how can we, as you know,

524
00:27:28,359 --> 00:27:32,439
Speaker 1: black people interested in creating generational wealth participation? How what

525
00:27:32,480 --> 00:27:35,240
Speaker 1: should we be focused on with AI, blockchain, other emergency

526
00:27:35,440 --> 00:27:38,760
Speaker 1: emerging technologies, like where should our attention be on learning

527
00:27:38,800 --> 00:27:39,720
Speaker 1: and getting involved?

528
00:27:41,000 --> 00:27:45,000
Speaker 2: The first thing is, don't be scarred. I'll be scared

529
00:27:45,080 --> 00:27:50,920
Speaker 2: because that's the number one thing I hear is the fear. Now,

530
00:27:51,240 --> 00:27:53,600
Speaker 2: I want people to have healthy skepticism, because we can't

531
00:27:53,600 --> 00:27:55,800
Speaker 2: just let people tell us any old thing. Have a

532
00:27:55,800 --> 00:27:58,960
Speaker 2: healthy amount of skepticism, but be open to learning and

533
00:27:59,040 --> 00:28:01,320
Speaker 2: taking a couple of risks because we saw it very

534
00:28:01,359 --> 00:28:07,080
Speaker 2: early on in the crypto space of it was a

535
00:28:07,160 --> 00:28:10,080
Speaker 2: learning curve for a lot of people, not just black people.

536
00:28:10,160 --> 00:28:13,240
Speaker 2: But how do I engage with the technology? How do

537
00:28:13,320 --> 00:28:16,200
Speaker 2: I begin to use it? How do I just get started?

538
00:28:16,560 --> 00:28:19,919
Speaker 2: You have to just get started, because a lot of

539
00:28:19,920 --> 00:28:21,520
Speaker 2: it is a rabbit hole, you know what I mean.

540
00:28:21,560 --> 00:28:23,119
Speaker 2: You learn one thing and learn the next thing, and

541
00:28:23,160 --> 00:28:25,760
Speaker 2: then you see this other link. And so people leaning

542
00:28:25,800 --> 00:28:30,320
Speaker 2: in versus letting the fear consume them. And I would say,

543
00:28:30,359 --> 00:28:33,040
Speaker 2: you know, we saw a huge change over the last year,

544
00:28:33,280 --> 00:28:37,199
Speaker 2: even in the AI conversation, because even last spring you

545
00:28:37,240 --> 00:28:42,520
Speaker 2: bring up AI, people are so hesitant. They're like, oh no, nope, nope, nope, nope, nope, nope, nope, nope.

546
00:28:42,880 --> 00:28:47,280
Speaker 2: But the tech is coming. It's coming. You can either

547
00:28:48,120 --> 00:28:49,840
Speaker 2: you know, join the movement and figure out how to

548
00:28:49,840 --> 00:28:51,440
Speaker 2: make it work for you or are gonna get run over.

549
00:28:52,000 --> 00:28:54,440
Speaker 2: And I want to figure out how do we encourage

550
00:28:54,440 --> 00:28:58,880
Speaker 2: people to utilize the technology to their benefit. Which is

551
00:29:00,120 --> 00:29:01,880
Speaker 2: part of the reason why we're doing this whole grant

552
00:29:01,880 --> 00:29:04,480
Speaker 2: program in these webinars is because we want people to

553
00:29:04,640 --> 00:29:10,040
Speaker 2: learn how to supercharge themselves, their productivity, their their output,

554
00:29:10,800 --> 00:29:13,040
Speaker 2: et cetera. So that's one of the things we should

555
00:29:13,040 --> 00:29:16,560
Speaker 2: be doing is quelling our fears as best we can

556
00:29:16,640 --> 00:29:21,080
Speaker 2: with a healthy dose of skepticism, and then learning AI

557
00:29:21,200 --> 00:29:23,640
Speaker 2: is changing and improving every day. You got to stay

558
00:29:23,680 --> 00:29:26,880
Speaker 2: on top of it. I think that's the most important thing.

559
00:29:27,800 --> 00:29:32,040
Speaker 2: One of the big questions we always get is uh,

560
00:29:32,160 --> 00:29:34,440
Speaker 2: where do I start? Because that's the hard part because

561
00:29:34,440 --> 00:29:36,640
Speaker 2: there's a lot out there. So we kind of came

562
00:29:36,720 --> 00:29:41,960
Speaker 2: up with this this acronym called Gucci P shout out

563
00:29:42,400 --> 00:29:46,480
Speaker 2: to Davars over at Maroksa who we were on a

564
00:29:46,520 --> 00:29:49,240
Speaker 2: panel together, and I came up with these six companies

565
00:29:49,280 --> 00:29:52,800
Speaker 2: that people to start, you know, their journey. And I'm

566
00:29:52,840 --> 00:29:54,480
Speaker 2: talking to the audience and I'm like, yeah, I was

567
00:29:54,520 --> 00:29:56,200
Speaker 2: trying to come up with like a you know, cute

568
00:29:56,240 --> 00:29:58,280
Speaker 2: little acronym to make it easy for y'all. And I

569
00:29:58,360 --> 00:29:59,720
Speaker 2: was like, but I don't have like I was thinking

570
00:29:59,720 --> 00:30:03,000
Speaker 2: about it for a week, will a week trying to

571
00:30:03,000 --> 00:30:05,320
Speaker 2: come up with something good. And I was like, I'm sorry,

572
00:30:05,320 --> 00:30:06,600
Speaker 2: I'm just gonna give you all the letters. I was like,

573
00:30:06,720 --> 00:30:12,760
Speaker 2: see I you see g whatever and Devars goes Gucci

574
00:30:12,800 --> 00:30:17,440
Speaker 2: P and I was like, Gucci pie. They're nice and easy,

575
00:30:18,680 --> 00:30:22,600
Speaker 2: so so usually I think that these six are a

576
00:30:22,600 --> 00:30:25,880
Speaker 2: good place to start. So it's Gamma, it's ud Oh,

577
00:30:26,120 --> 00:30:30,240
Speaker 2: it's captions, it's chat GPT, which is a good one.

578
00:30:30,400 --> 00:30:34,600
Speaker 2: It's ideogram Elizabeth. You remember my pee? My p is

579
00:30:34,720 --> 00:30:42,920
Speaker 2: escaping me? Do you remember the Pliabeth community? And then

580
00:30:42,920 --> 00:30:44,840
Speaker 2: I'll just I'll just say it all again. I'll say

581
00:30:44,880 --> 00:30:50,880
Speaker 2: it all again. He escaping me. I don't know, but

582
00:30:50,960 --> 00:30:53,680
Speaker 2: now why is it escaping me? I know this, I've

583
00:30:53,680 --> 00:30:57,800
Speaker 2: said this nine million times. I don't know. We can

584
00:30:57,880 --> 00:30:58,360
Speaker 2: just cut this.

585
00:30:58,360 --> 00:31:01,840
Speaker 1: Part out, but keep just in. I love this, I know.

586
00:31:02,240 --> 00:31:06,960
Speaker 2: Hang on, oops, I feel like it's it's uh, I

587
00:31:06,960 --> 00:31:10,000
Speaker 2: don't know. It'll come to you and I'll just say

588
00:31:10,000 --> 00:31:16,560
Speaker 2: it all again. Photom chas or on your phone. Thank you,

589
00:31:16,840 --> 00:31:18,400
Speaker 2: But that was about to make me crazy. That was

590
00:31:18,400 --> 00:31:21,880
Speaker 2: getting hot, like make it in the thirty seven My

591
00:31:21,960 --> 00:31:22,840
Speaker 2: age is hit me.

592
00:31:23,000 --> 00:31:24,200
Speaker 1: I want to keep I want to keep that in.

593
00:31:24,240 --> 00:31:26,400
Speaker 2: We'll get that should I should I back up and

594
00:31:26,440 --> 00:31:27,040
Speaker 2: start that hour.

595
00:31:27,640 --> 00:31:29,360
Speaker 1: Yeah, you get academ again if you want.

596
00:31:29,680 --> 00:31:34,480
Speaker 2: Okay, wonderful. So the six companies are Gucci, PI so,

597
00:31:34,640 --> 00:31:41,360
Speaker 2: it's Gamma, It's Udio, Captions, Chat, gpt, Idea, gram and

598
00:31:41,480 --> 00:31:44,560
Speaker 2: Photo Room. So that's a great six to kind of

599
00:31:44,600 --> 00:31:46,880
Speaker 2: just start tinkering with so you can get familiar with

600
00:31:46,920 --> 00:31:48,920
Speaker 2: the tech and figure out the ways that it can

601
00:31:48,960 --> 00:31:50,760
Speaker 2: work for you, and then you'll be in a you'll

602
00:31:50,760 --> 00:31:51,720
Speaker 2: be on a journey from there.

603
00:31:52,320 --> 00:31:54,120
Speaker 1: I love it. I want you to talk about it.

604
00:31:54,160 --> 00:31:57,480
Speaker 1: You mentioned the programs you guys are doing to help people.

605
00:31:57,640 --> 00:31:59,280
Speaker 1: You want to talk a little bit about that while

606
00:31:59,280 --> 00:32:00,760
Speaker 1: we got two minutes left.

607
00:32:01,560 --> 00:32:04,920
Speaker 2: Yeah, totally. So really, when you think about the work

608
00:32:04,920 --> 00:32:09,240
Speaker 2: of CLF, it's twofold. So the first mission of CLF

609
00:32:09,600 --> 00:32:12,960
Speaker 2: is connecting the world's greatest cultural leaders to the best

610
00:32:13,000 --> 00:32:18,200
Speaker 2: new technology companies, and for us, that includes athletes, entertainers, musicians,

611
00:32:18,600 --> 00:32:21,480
Speaker 2: and C level executives who may not be in tech,

612
00:32:21,560 --> 00:32:25,000
Speaker 2: but they're excited about tech, they're interested in innovation. They

613
00:32:25,040 --> 00:32:27,080
Speaker 2: want to play a role on the things that are

614
00:32:27,120 --> 00:32:28,920
Speaker 2: being built across this industry, and we get to be

615
00:32:28,920 --> 00:32:31,760
Speaker 2: their arm ramp into doing that. And the interesting piece

616
00:32:31,840 --> 00:32:33,880
Speaker 2: is that kind of ties back to what you mentioned

617
00:32:33,920 --> 00:32:36,120
Speaker 2: earlier about how do we get more of us involved

618
00:32:36,160 --> 00:32:39,560
Speaker 2: in tech as investors, et cetera. Because like we're not

619
00:32:39,600 --> 00:32:43,800
Speaker 2: all athletes and we're not all entertainers. We have more

620
00:32:44,160 --> 00:32:50,600
Speaker 2: executives as CLF LPs than anything. Our executive network is

621
00:32:50,640 --> 00:32:56,280
Speaker 2: a huge pillar of CLF and the capital that we deploy,

622
00:32:56,840 --> 00:32:58,360
Speaker 2: and so if you're an exit, you could be a

623
00:32:58,400 --> 00:33:00,719
Speaker 2: marketing executive, you could be kind of in any space

624
00:33:00,960 --> 00:33:03,800
Speaker 2: that is valuable to startups, and that's a huge part

625
00:33:03,800 --> 00:33:06,000
Speaker 2: of our LPBA. So I want to be sure folks

626
00:33:06,040 --> 00:33:08,640
Speaker 2: know you don't have to be an entertainer, you don't

627
00:33:08,640 --> 00:33:11,000
Speaker 2: have to be an athlete to invest. And then the

628
00:33:11,040 --> 00:33:12,840
Speaker 2: second mission of CLF is how do we get more

629
00:33:12,880 --> 00:33:15,719
Speaker 2: young African Americans in tech? So we support over thirty

630
00:33:15,840 --> 00:33:21,040
Speaker 2: organizations through CLF who are doing the work of getting

631
00:33:21,080 --> 00:33:23,240
Speaker 2: more young African Americans in tech. We kind of do

632
00:33:23,280 --> 00:33:26,640
Speaker 2: it in three stages. So the first group that we

633
00:33:26,720 --> 00:33:30,200
Speaker 2: fund are called our ecosystem Partners. So these are partners

634
00:33:30,200 --> 00:33:34,000
Speaker 2: who are nationwide who have proven over time that they're

635
00:33:34,080 --> 00:33:39,320
Speaker 2: putting talent into that tech pipeline, and we fund them.

636
00:33:39,440 --> 00:33:41,680
Speaker 2: What we say is the life of the fund, meaning

637
00:33:41,760 --> 00:33:44,200
Speaker 2: eight to ten years. We are committing to funding them

638
00:33:44,240 --> 00:33:47,240
Speaker 2: every year. That's really unheard of in the nonprofit space.

639
00:33:47,280 --> 00:33:49,560
Speaker 2: If you get a three year grant, you're like, ah, yes,

640
00:33:49,600 --> 00:33:51,840
Speaker 2: if you get a five year grant, you're like even better.

641
00:33:52,800 --> 00:33:55,680
Speaker 2: But an eight to ten year grant is not normal.

642
00:33:55,800 --> 00:33:58,480
Speaker 2: And we're doing that very intentionally because we want to

643
00:33:58,520 --> 00:34:01,200
Speaker 2: have a long term relationship and we want people to

644
00:34:01,240 --> 00:34:06,360
Speaker 2: feel like again they don't constantly have to chase dollars,

645
00:34:06,400 --> 00:34:08,600
Speaker 2: as tough as it could be to run a nonprofit.

646
00:34:09,040 --> 00:34:12,399
Speaker 2: The second group we have is our community builders, and

647
00:34:12,440 --> 00:34:17,880
Speaker 2: this became really important because we realized as technology changes

648
00:34:18,080 --> 00:34:21,120
Speaker 2: AI Crypto, there's not going to be organizations that have

649
00:34:21,160 --> 00:34:24,240
Speaker 2: been around for twenty years that are helping people earn crypto.

650
00:34:24,360 --> 00:34:28,040
Speaker 2: Crypto ain't even been around for twenty years, So how

651
00:34:28,040 --> 00:34:31,600
Speaker 2: do we support organizations that are doing something new and

652
00:34:31,760 --> 00:34:35,080
Speaker 2: ensuring that black people aren't getting left behind? So these

653
00:34:35,160 --> 00:34:38,080
Speaker 2: are more so one time grant to help you kind

654
00:34:38,080 --> 00:34:40,600
Speaker 2: of get that vision over the line, to start proving

655
00:34:40,640 --> 00:34:43,799
Speaker 2: out that, you know, you're helping to get more people

656
00:34:43,840 --> 00:34:45,880
Speaker 2: in crypto, or you're helping to teach folks how to

657
00:34:45,880 --> 00:34:48,879
Speaker 2: design through AI. And so we wanted to fund new

658
00:34:48,920 --> 00:34:51,839
Speaker 2: and innovative programs. And the third thing we do is

659
00:34:52,120 --> 00:34:57,840
Speaker 2: kind of our big project, big swing initiatives. During the

660
00:34:57,960 --> 00:35:01,719
Speaker 2: kind of NFT craze back in maybe twenty twenty one

661
00:35:01,800 --> 00:35:04,440
Speaker 2: twenty twenty two, one of the things we noticed is

662
00:35:04,480 --> 00:35:06,400
Speaker 2: that there weren't a lot of projects being done on

663
00:35:06,480 --> 00:35:09,839
Speaker 2: black art. They were all artists who did not look

664
00:35:09,880 --> 00:35:11,799
Speaker 2: like us. And I said, I'm you know, the whole

665
00:35:11,840 --> 00:35:15,280
Speaker 2: team actually said, now we know there are black artists

666
00:35:15,360 --> 00:35:18,440
Speaker 2: creating things, how do we ensure that they're part of

667
00:35:18,480 --> 00:35:22,600
Speaker 2: this kind of new movement in the web three space.

668
00:35:22,640 --> 00:35:26,320
Speaker 2: So we created the Black Digital Art Collective. We committed

669
00:35:26,480 --> 00:35:30,040
Speaker 2: about four hundred thousand dollars to that program over three

670
00:35:30,120 --> 00:35:34,479
Speaker 2: years in order to buy black digital art, help HiPE

671
00:35:34,520 --> 00:35:36,680
Speaker 2: it up, help it grow, help the artists get some

672
00:35:36,760 --> 00:35:40,279
Speaker 2: note of writing to then sell those pieces at you know,

673
00:35:40,480 --> 00:35:42,680
Speaker 2: once they get marked up, and then use that money

674
00:35:42,719 --> 00:35:45,440
Speaker 2: to buy more black art. And so those are kind

675
00:35:45,480 --> 00:35:47,440
Speaker 2: of big swing things that we try to do to

676
00:35:47,680 --> 00:35:51,080
Speaker 2: support our community, both in business and on the nonprofit side.

677
00:35:51,160 --> 00:35:53,600
Speaker 2: So that second mission is really important to us. And

678
00:35:53,640 --> 00:35:56,320
Speaker 2: we kind of make a joke that that's not a joke. Honestly,

679
00:35:56,480 --> 00:35:58,640
Speaker 2: that's the real reason why we come to work every day.

680
00:35:58,880 --> 00:36:01,000
Speaker 1: I love it. I want to learn more about what

681
00:36:01,040 --> 00:36:02,799
Speaker 1: you're doing. Where can they find you? Where can they

682
00:36:02,840 --> 00:36:03,239
Speaker 1: follow you?

683
00:36:03,760 --> 00:36:08,640
Speaker 2: Yes? So they can find us on Instagram. Our Instagram

684
00:36:08,719 --> 00:36:13,520
Speaker 2: is at a sixteen z clf. I'm on Instagram at

685
00:36:13,680 --> 00:36:17,720
Speaker 2: Meghan h Alexander. No extra h, no extra am Megan,

686
00:36:17,840 --> 00:36:20,719
Speaker 2: So it's just m E g A n H Alexander.

687
00:36:21,920 --> 00:36:25,520
Speaker 2: Also online a sixteen z dot com slash clf. It's

688
00:36:25,600 --> 00:36:29,000
Speaker 2: really important work. Please go check it out, and we

689
00:36:29,040 --> 00:36:31,760
Speaker 2: hope to keep kind of evangelizing the story of investing

690
00:36:31,800 --> 00:36:32,840
Speaker 2: in tech to our community.

691
00:36:33,520 --> 00:36:35,920
Speaker 1: Black Tech Green Money is a production of Blavity Afro

692
00:36:36,040 --> 00:36:38,960
Speaker 1: Tech on the Black Effect podcast Networking Night Heart Media.

693
00:36:39,040 --> 00:36:42,279
Speaker 1: It's produced by Morgan Debonne and me Well Lucas, with

694
00:36:42,400 --> 00:36:45,400
Speaker 1: the digital production support by Kate McDonald, Sarah Erga and

695
00:36:45,480 --> 00:36:48,439
Speaker 1: Jaden McGee. Special thank you to Michael Davis and Love Beach.

696
00:36:48,800 --> 00:36:50,759
Speaker 1: Learn more about my guests, Other Tech that shows an

697
00:36:50,760 --> 00:36:54,560
Speaker 1: innovators at afrotech dot com. Video version this episode will

698
00:36:54,640 --> 00:36:56,879
Speaker 1: drop to Black Tech Green Money on YouTube, so tap

699
00:36:56,960 --> 00:37:02,160
Speaker 1: it enjoin your Black Tech Green Money. Somebody took your money.

700
00:37:02,800 --> 00:37:03,399
Speaker 1: Peace and love,