Venture investors need to invest in Black-owned businesses
Less than 1% of all venture capital funding in the US is given to Black entrepreneurs. Now is the time for that to change.
Abner Mason is the founder & CEO of healthtech company ConsejoSano. Before creating ConsejoSano, Mason was the founder and CEO for the Workplace Wellness Council of Mexico, now the leading corporate wellness company in Mexico. From 2003-2008, he was the founder and executive director of AIDS Responsibility Project, driving the creation of CONAES and JaBCHA, the first business councils on HIV/AIDS in Mexico and Jamaica. Mason previously served as Chairman of the International Committee and member of the Presidential Advisory Council on HIV/AIDS (PACHA), appointed by President Bush in 2002.
- Abner Mason, CEO and founder of health care startup ConsejoSano, is calling for all venture capital firms in the United States to pledge to invest 13% of their funds in African American businesses.
- Currently, Black entrepreneurs receive less than 1% of all venture capital funding.
- The 13% target reflects the percentage of Black Americans and is a nod to the 13th Amendment.
The murder of George Floyd has brought America to a much-needed reckoning on the racism in American society. Young people are marching, white people are reading, and churches are preaching about ways we as people can transform the way we treat Black people. Notably, many business leaders are pledging to end racism. But once the marching ends what will be different in America?
As a Black business leader, this newfound desire to address America's original sin is a breath of fresh air in the midst of this pandemic. But I wonder how long this new zeal to change will last and, more importantly, what practical steps and sacrifices will be made to make the promise to end racism real.
Here is one practical solution that all investors can take to make their promise real. I'm calling on all venture capital firms in the United States to pledge now to invest 13% of their funds in African American businesses. I suggest 13 as a target to both reflect the percentage of Black Americans and a nod to the 13th Amendment. I'm reaching out to friends in the social impact space to help me set up the organization that will monitor this.
Here is one practical solution that all investors can take to make their promise real. I'm calling on all venture capital firms in the United States to pledge now to invest 13% of their funds in African American businesses.
My life reflects both America at its best in terms of ending racism and at its worst.
As an African American CEO of the health care startup ConsejoSano, I've focused on using technology to connect low-income and multi-cultural people to care in our health care system where their needs are often overlooked. Also, I've lived a blessed life. I grew up in an integrated public school in North Carolina where my parents and church taught me never to judge a book by its cover. They taught me that not all white people were motivated by racism and to seek out white allies in my life path.
This advice paid off. I found my way out of NC to a prep school in New England where I was one of seven Black students out of three hundred. I then made my way to Harvard College where Black students were less than five percent of my freshman class of thousands. I faced a choice that most young Black men of my generation made: Will I define myself solely by my race or pretty much ignore my race, ignoring racists, and look for allies? I chose the allies path.
After a short stint in the management consulting field, I found myself working in state government in the MA Department of Transportation where I learned a powerful truth about life—good intentions are not enough. No one cared that we had good intentions to get buses to passengers, we had to get the buses out to waiting passengers. Visible results, not intentions mattered. This lesson speaks to me today when I consider America's response to racism.
I went on to advise three governors and launched a nonprofit to address the AIDS crisis in Africa, helping to created what later would be called the PEPFAR program. What I learned through this entire career path was that I could pretty much sense and ignore racists and seek good white people at every level. These were my survival techniques.
This strategy hit a wall when I entered the venture capital arena launching a health tech company where I was asking wealthy white men to invest in the leadership of a Black man. In the more than 40 pitches I made to create our Series A, I encountered 99% white male investors who were blunt saying they were not investing in my product or projections; they would be investing in me. I could no longer follow my life strategy of ignoring investors with racist views. I was pitching the 1% of the 1% who lived lifestyles and had social worlds completely different from my own. We both could sense the cultural and lifestyle disconnect. Following my pitches I heard comments such as, 'I'm not comfortable with you being in charge,' or 'I'd imagine you being good at sales,' or 'Let's keep you as Chief Evangelist or something like that.'
What became clear to me was that uber-wealthy white men could imagine a Black leader as a minister not as a CEO. In my conversations with other Black startup leaders, I realized I was not alone. Then I looked at the data which confirmed my experience. I found only 1% of venture capital-funded startup founders are Black. Ultimately, I did find investors who believed in me and my product and I was successful in gaining my Series A through white male investors who cared.
Today, I'm no longer a young Black man navigating the corridors of white power, but even as a successful entrepreneur I'm still facing the greatest degree of discrimination I've ever encountered in my life. Corporations posting 'Black Lives Matter' is nice, but as I learned in my job in transportation, the young Black entrepreneurs can no longer praise good intentions. They need results.
If America is serious about the desire to end racism, Black Americans are going to have to follow the lead of Langston Hughes who famously said, "I will not take 'but' for an answer."
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Scientists are using bioelectronic medicine to treat inflammatory diseases, an approach that capitalizes on the ancient "hardwiring" of the nervous system.
- Bioelectronic medicine is an emerging field that focuses on manipulating the nervous system to treat diseases.
- Clinical studies show that using electronic devices to stimulate the vagus nerve is effective at treating inflammatory diseases like rheumatoid arthritis.
- Although it's not yet approved by the US Food and Drug Administration, vagus nerve stimulation may also prove effective at treating other diseases like cancer, diabetes and depression.
The nervous system’s ancient reflexes<p>You accidentally place your hand on a hot stove. Almost instantaneously, your hand withdraws.</p><p>What triggered your hand to move? The answer is <em>not</em> that you consciously decided the stove was hot and you should move your hand. Rather, it was a reflex: Skin receptors on your hand sent nerve impulses to the spinal cord, which ultimately sent back motor neurons that caused your hand to move away. This all occurred before your "conscious brain" realized what happened.</p><p>Similarly, the nervous system has reflexes that protect individual cells in the body.</p><p>"The nervous system evolved because we need to respond to stimuli in the environment," said Dr. Tracey. "Neural signals don't come from the brain down first. Instead, when something happens in the environment, our peripheral nervous system senses it and sends a signal to the central nervous system, which comprises the brain and spinal cord. And then the nervous system responds to correct the problem."</p><p>So, what if scientists could "hack" into the nervous system, manipulating the electrical activity in the nervous system to control molecular processes and produce desirable outcomes? That's the chief goal of bioelectronic medicine.</p><p>"There are billions of neurons in the body that interact with almost every cell in the body, and at each of those nerve endings, molecular signals control molecular mechanisms that can be defined and mapped, and potentially put under control," Dr. Tracey said in a <a href="https://www.youtube.com/watch?v=AJH9KsMKi5M" target="_blank">TED Talk</a>.</p><p>"Many of these mechanisms are also involved in important diseases, like cancer, Alzheimer's, diabetes, hypertension and shock. It's very plausible that finding neural signals to control those mechanisms will hold promises for devices replacing some of today's medication for those diseases."</p><p>How can scientists hack the nervous system? For years, researchers in the field of bioelectronic medicine have zeroed in on the longest cranial nerve in the body: the vagus nerve.</p>
The vagus nerve<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTYyOTM5OC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTIwNzk0NX0.UCy-3UNpomb3DQZMhyOw_SQG4ThwACXW_rMnc9mLAe8/img.jpg?width=1245&coordinates=0%2C0%2C0%2C0&height=700" id="09add" class="rm-shortcode" data-rm-shortcode-id="f38dbfbbfe470ad85a3b023dd5083557" data-rm-shortcode-name="rebelmouse-image" data-width="1245" data-height="700" />
Electrical signals, seen here in a synapse, travel along the vagus nerve to trigger an inflammatory response.
Credit: Adobe Stock via solvod<p>The vagus nerve ("vagus" meaning "wandering" in Latin) comprises two nerve branches that stretch from the brainstem down to the chest and abdomen, where nerve fibers connect to organs. Electrical signals constantly travel up and down the vagus nerve, facilitating communication between the brain and other parts of the body.</p><p>One aspect of this back-and-forth communication is inflammation. When the immune system detects injury or attack, it automatically triggers an inflammatory response, which helps heal injuries and fend off invaders. But when not deployed properly, inflammation can become excessive, exacerbating the original problem and potentially contributing to diseases.</p><p>In 2002, Dr. Tracey and his colleagues discovered that the nervous system plays a key role in monitoring and modifying inflammation. This occurs through a process called the <a href="https://www.nature.com/articles/nature01321" target="_blank" rel="noopener noreferrer">inflammatory reflex</a>. In simple terms, it works like this: When the nervous system detects inflammatory stimuli, it reflexively (and subconsciously) deploys electrical signals through the vagus nerve that trigger anti-inflammatory molecular processes.</p><p>In rodent experiments, Dr. Tracey and his colleagues observed that electrical signals traveling through the vagus nerve control TNF, a protein that, in excess, causes inflammation. These electrical signals travel through the vagus nerve to the spleen. There, electrical signals are converted to chemical signals, triggering a molecular process that ultimately makes TNF, which exacerbates conditions like rheumatoid arthritis.</p><p>The incredible chain reaction of the inflammatory reflex was observed by Dr. Tracey and his colleagues in greater detail through rodent experiments. When inflammatory stimuli are detected, the nervous system sends electrical signals that travel through the vagus nerve to the spleen. There, the electrical signals are converted to chemical signals, which trigger the spleen to create a white blood cell called a T cell, which then creates a neurotransmitter called acetylcholine. The acetylcholine interacts with macrophages, which are a specific type of white blood cell that creates TNF, a protein that, in excess, causes inflammation. At that point, the acetylcholine triggers the macrophages to stop overproducing TNF – or inflammation.</p><p>Experiments showed that when a specific part of the body is inflamed, specific fibers within the vagus nerve start firing. Dr. Tracey and his colleagues were able to map these relationships. More importantly, they were able to stimulate specific parts of the vagus nerve to "shut off" inflammation.</p><p>What's more, clinical trials show that vagus nerve stimulation not only "shuts off" inflammation, but also triggers the production of cells that promote healing.</p><p>"In animal experiments, we understand how this works," Dr. Tracey said. "And now we have clinical trials showing that the human response is what's predicted by the lab experiments. Many scientific thresholds have been crossed in the clinic and the lab. We're literally at the point of regulatory steps and stages, and then marketing and distribution before this idea takes off."<br></p>
The future of bioelectronic medicine<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTYxMDYxMy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzNjQwOTExNH0.uBY1TnEs_kv9Dal7zmA_i9L7T0wnIuf9gGtdRXcNNxo/img.jpg?width=980" id="8b5b2" class="rm-shortcode" data-rm-shortcode-id="c005e615e5f23c2817483862354d2cc4" data-rm-shortcode-name="rebelmouse-image" data-width="2000" data-height="1125" />
Vagus nerve stimulation can already treat Crohn's disease and other inflammatory diseases. In the future, it may also be used to treat cancer, diabetes, and depression.
Credit: Adobe Stock via Maridav<p>Vagus nerve stimulation is currently awaiting approval by the US Food and Drug Administration, but so far, it's proven safe and effective in clinical trials on humans. Dr. Tracey said vagus nerve stimulation could become a common treatment for a wide range of diseases, including cancer, Alzheimer's, diabetes, hypertension, shock, depression and diabetes.</p><p>"To the extent that inflammation is the problem in the disease, then stopping inflammation or suppressing the inflammation with vagus nerve stimulation or bioelectronic approaches will be beneficial and therapeutic," he said.</p><p>Receiving vagus nerve stimulation would require having an electronic device, about the size of lima bean, surgically implanted in your neck during a 30-minute procedure. A couple of weeks later, you'd visit, say, your rheumatologist, who would activate the device and determine the right dosage. The stimulation would take a few minutes each day, and it'd likely be unnoticeable.</p><p>But the most revolutionary aspect of bioelectronic medicine, according to Dr. Tracey, is that approaches like vagus nerve stimulation wouldn't come with harmful and potentially deadly side effects, as many pharmaceutical drugs currently do.</p><p>"A device on a nerve is not going to have systemic side effects on the body like taking a steroid does," Dr. Tracey said. "It's a powerful concept that, frankly, scientists are quite accepting of—it's actually quite amazing. But the idea of adopting this into practice is going to take another 10 or 20 years, because it's hard for physicians, who've spent their lives writing prescriptions for pills or injections, that a computer chip can replace the drug."</p><p>But patients could also play a role in advancing bioelectronic medicine.</p><p>"There's a huge demand in this patient cohort for something better than they're taking now," Dr. Tracey said. "Patients don't want to take a drug with a black-box warning, costs $100,000 a year and works half the time."</p><p>Michael Dowling, president and CEO of Northwell Health, elaborated:</p><p>"Why would patients pursue a drug regimen when they could opt for a few electronic pulses? Is it possible that treatments like this, pulses through electronic devices, could replace some drugs in the coming years as preferred treatments? Tracey believes it is, and that is perhaps why the pharmaceutical industry closely follows his work."</p><p>Over the long term, bioelectronic approaches are unlikely to completely replace pharmaceutical drugs, but they could replace many, or at least be used as supplemental treatments.</p><p>Dr. Tracey is optimistic about the future of the field.</p><p>"It's going to spawn a huge new industry that will rival the pharmaceutical industry in the next 50 years," he said. "This is no longer just a startup industry. [...] It's going to be very interesting to see the explosive growth that's going to occur."</p>
A physicist creates an AI algorithm that predicts natural events and may prove the simulation hypothesis.
- Princeton physicist Hong Qin creates an AI algorithm that can predict planetary orbits.
- The scientist partially based his work on the hypothesis which believes reality is a simulation.
- The algorithm is being adapted to predict behavior of plasma and can be used on other natural phenomena.
Physicist Hong Qin with images of planetary orbits and computer code.
Credit: Elle Starkman
Are we living in a simulation? | Bill Nye, Joscha Bach, Donald Hoffman | Big Think<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="4dbe18924f2f42eef5669e67f405b52e"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/KDcNVZjaNSU?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span>
How different people react to threats of violence.
Japan looks to replace China as the primary source of critical metals
- Enough rare earth minerals have been found off Japan to last centuries
- Rare earths are important materials for green technology, as well as medicine and manufacturing
- Where would we be without all of our rare-earth magnets?
What are the rare earth elements?<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTA2MTM0Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzODExMjMyMn0.owchAgxSBwji5IofgwKtueKSbHNyjPfT7hTJrHpTi98/img.jpg?width=980" id="fd315" class="rm-shortcode" data-rm-shortcode-id="d8ed70e3d0b67b9cbe78414ffd02c43e" data-rm-shortcode-name="rebelmouse-image" />
(julie deshaies/Shutterstock)<p>The rare earth metals can be mostly found in the second row from the bottom in the Table of Elements. According to the <a href="http://www.rareearthtechalliance.com/What-are-Rare-Earths" target="_blank"><u>Rare Earth Technology Alliance</u></a>, due to the "unique magnetic, luminescent, and electrochemical properties, these elements help make many technologies perform with reduced weight, reduced emissions, and energy consumption; or give them greater efficiency, performance, miniaturization, speed, durability, and thermal stability."</p><p>In order of atomic number, the rare earths are:</p> <ul> <li>Scandium or Sc (21) — This is used in TVs and energy-saving lamps.</li> <li>Yttrium or Y (39) — Yttrium is important in the medical world, used in cancer drugs, rheumatoid arthritis medications, and surgical supplies. It's also used in superconductors and lasers.</li> <li>Lanthanum or La (57) — Lanthanum finds use in camera/telescope lenses, special optical glasses, and infrared absorbing glass.</li> <li>Cerium or Ce (58) — Cerium is found in catalytic converters, and is used for precision glass-polishing. It's also found in alloys, magnets, electrodes, and carbon-arc lighting. </li> <li>Praseodymium or Pr (59) — This is used in magnets and high-strength metals.</li> <li>Neodymium or Nd (60) — Many of the magnets around you have neodymium in them: speakers and headphones, microphones, computer storage, and magnets in your car. It's also found in high-powered industrial and military lasers. The mineral is especially important for green tech. Each <a href="https://www.reuters.com/article/us-mining-toyota/as-hybrid-cars-gobble-rare-metals-shortage-looms-idUSTRE57U02B20090831" target="_blank"><u>Prius</u></a> motor, for example, requires 2.2 lbs of neodymium, and its battery another 22-33 lbs. <a href="https://pubs.usgs.gov/sir/2011/5036/sir2011-5036.pdf" target="_blank"><u>Wind turbine batteries</u></a> require 450 lbs of neodymium per watt. </li> <li>Promethium or Pm (61) — This is used in pacemakers, watches, and research.</li> <li>Samarium or Sm (62) — This mineral is used in magnets in addition to intravenous cancer radiation treatments and nuclear reactor control rods.</li> <li>Europium or Eu (63) — Europium is used in color displays and compact fluorescent light bulbs.</li> <li>Gadolinium or Gd (64) — It's important for nuclear reactor shielding, cancer radiation treatments, as well as x-ray and bone-density diagnostic equipment.</li> <li>Terbium or Tb (65) — Terbium has similar uses to Europium, though it's also soft and thus possesses unique shaping capabilities .</li> <li>Dysprosium or Dy (66) — This is added to other rare-earth magnets to help them work at high temperatures. It's used for computer storage, in nuclear reactors, and in energy-efficient vehicles.</li> <li>Holmium or Ho (67) — Holmium is used in nuclear control rods, microwaves, and magnetic flux concentrators.</li> <li>Erbium or Er (68) — This is used in fiber-optic communication networks and lasers.</li> <li>Thulium or Tm (69) — Thulium is another laser rare earth.</li> <li>Ytterbium or Yb (70) — This mineral is used in cancer treatments, in stainless steel, and in seismic detection devices.</li> <li>Lutetium or Lu (71) — Lutetium can target certain cancers, and is used in petroleum refining and positron emission tomography.</li></ul>
Where Japan found is rare earths<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTA2MTM0OC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1MTA0NzUxNn0.N3t_iKf6lnnoJ6yVUtl8-wNZICEG2ZxyPzm9ZdE99ks/img.jpg?width=980" id="021b7" class="rm-shortcode" data-rm-shortcode-id="d9dd843fde547a0b69f8798aca18a706" data-rm-shortcode-name="rebelmouse-image" />
Minimatori Torishima Island
(Chief Master Sergeant Don Sutherland, U.S. Air Force)<p>Japan located the rare earths about 1,850 kilometers off the shore of <a href="https://en.wikipedia.org/wiki/Minami-Tori-shima" target="_blank"><u>Minamitori Island</u></a>. Engineers located the minerals in 10-meter-deep cores taken from sea floor sediment. Mapping the cores revealed and area of approximately 2,500 square kilometers containing rare earths.</p><p>Japan's engineers estimate there's 16 million tons of rare earths down there. That's <a href="https://minerals.usgs.gov/minerals/pubs/historical-statistics/ds140-raree.xlsx" target="_blank"><u>five times</u></a> the amount of the rare earth elements ever mined since 1900. According to <a href="https://www.businessinsider.com.au/rare-earth-minerals-found-in-japan-2018-4?r=US&IR=T" target="_blank"><u>Business Insider</u></a>, there's "enough yttrium to meet the global demand for 780 years, dysprosium for 730 years, europium for 620 years, and terbium for 420 years."</p><p>The bad news, of course, is that Japan has to figure out how to extract the minerals from 6-12 feet under the seabed four miles beneath the ocean surface — that's the <a href="https://www.nature.com/articles/s41598-018-23948-5" target="_blank"><u>next step</u></a> for the country's engineers. The good news is that the location sits squarely within Japan's Exclusive Economic Zone, so their rights to the lucrative discovery will be undisputed.</p>
Beyond making up 70% of the world's health workers, women researchers have been at the cutting edge of coronavirus research.
- The gender gap persists, as only 33% of the world's researchers are women.
- Here are just some of the women making lasting contributions in the fight against COVID-19.
- They include Dr Özlem Türeci, co-founder of BioNTech, which helped produce the first vaccine.