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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If something is "true," it needs to be shown to work in the real world.
- Pragmatism is an American philosophical movement that originated as a rebuke to abstract European philosophy.
- The pragmatic theory of truth argues that truth and reality only can be understood in their relation to how things work in the real world.
- The trouble is that the theory devalues the term "truth," such that it only applies to one particular moment in time. But Charles Sanders Peirce offers a clever way out.
Think of wine. Now take away from this idea every possible property it has. Take away its redness or whiteness, its intoxicating effect, its taste, the slosh it makes, and so on. What are you left with? Nothing. An empty phoneme of the mind. An invisible color. A silent noise. Do this with any concept, and the result is the same.
This is exactly the kind of consideration that led the American Pragmatic movement. The likes of William James, John Dewey, and Charles Sanders Peirce argued that all of our concepts, and the truth of anything, are determined solely by the practical effects they have and how these extend into the real world. The idea of truth, and even of having intelligible thoughts at all, cannot be understood without reference to what that something does or how it behaves in the real world.
Pragmatic theory of truth: a very American idea
Peirce was the first to coin the term Pragmatism as a particular school of American philosophy, and it was a conscious response to the more untethered and arcane metaphysics coming out of Europe. Across the pond, and especially in Germany, philosophers since Immanuel Kant seemed to be locked in a competition to make philosophy as inaccessible and polysyllabic as possible (reaching its apogee in Georg Hegel). Pragmatists wanted to bring philosophy back and make it more relevant.
American Pragmatism gave out an exasperated and down-to-earth plea for philosophy to stop being quite so abstract.
According to Peirce, there was not any truth "out there" in the "real world" that we somehow, magically, could unearth. Instead, truth was defined by how it works in our everyday lives. So, my belief in gravity is true because of its practicality — that is, it works every day. It is true and meaningful precisely because it makes my pen drop, my coffee cup smash, and pole-vaulters come crashing down. Likewise, we know something is hard if it does not scratch easily, or if it helps you break a window, or if it hurts like heck when you hit it with your toe.
In short, we measure things by how they work and what they do. The same goes for truth.
Of course, an immediate objection comes to mind: surely the truth will change from person to person or from time to time. For instance, the Aristotelian model of gravity and the Ptolemaic model of planetary motion worked quite well for millennia. Does that mean these scientifically disproven models were actually true?! William James would argue yes, but Peirce would say no — and he offered a nuanced way out.
The coalescence of inquiry
For Peirce, "truth" could eventually coalesce or converge by the idealized agreement of intelligent inquirers. That is to say, scientists, scholars, and society will one day be so informed about the world that their answers to "what works" will be the only, final, and universal "truth" or "reality." As Peirce wrote, "The real, then, is that which, sooner or later, information and reasoning would finally result in, and which is therefore independent of the vagaries of me and you." And, elsewhere, he says reality is "what may finally come to be known to be in the ideal state of complete information."
For instance, Ptolemy's notion that the sun revolves around the Earth was never true but rather mistaken as true. What is true is defined by the end result of more advanced inquiry, such as that of Copernicus and Galileo. (Of course, we might still be mistaken today.) We cannot know if something is true until this perfected end point has been reached — the point when there are no alternative answers to the question, "What works best?"
Acceptance of error and self-correction
Most commentators today do not think Peirce meant there had to be an actual and future idealized end point where there would be no more debate and disagreement. Rather, Peirce's Pragmatism speaks to two broader and much more widely accepted epistemic virtues: an openness to accept error and the willingness to correct it.
Under Peirce's account, something is true or real insofar as it works within the world. This is not just for everyday experiences like gravity causing us to drop things. He meant that things must also work in the science laboratory as well.
Today, we practice science by presenting a hypothesis, which is then tested in experiments over and over again. Scientists are constantly calibrating the truth of hypotheses and theories based on how they work in the world. And, according to Peirce's Pragmatism, "although the conclusion [of an experiment] at any stage of the investigation may be more or less erroneous, the further application of the same method must correct the error."
So, we will get closer and closer to the truth as society becomes more and more informed. But this also means accepting that future societies will possibly, or even quite likely, correct what we today call truth.
The American way
Pragmatism has a certain intuitive appeal. Truth which is abstracted from how things operate in the real world often makes very little sense. The idea of a world "out there" beyond our minds — a world which is unseen, unknown, and unimaginable — is also unintelligible (as Kant pointed out) if it is not tied, in some way, both to how the world works and to what we humans can interact with.
People like Peirce should be praised for a very American Pragmatism that gave out an exasperated and down-to-earth plea for philosophy to stop being quite so abstract.
Scientists do not know what is causing the overabundance of the gas.
- A new study looked to understand the source of methane on Saturn's moon Enceladus.
- The scientists used computer models with data from the Cassini spacecraft.
- The explanation could lie in alien organisms or non-biological processes.
Something is producing an overabundance of methane in the ocean hidden under the ice of Saturn's moon Enceladus. A new study analyzed if the source could be an alien life form or some other explanation.
The study, published in Nature Astronomy, was carried out by scientists at the University of Arizona and Paris Sciences & Lettres University, who looked at composition data from the water plumes erupting on Enceladus.
The particular chemistry, discovered by the Cassini spacecraft which flew through the plumes, suggested a high concentration of molecules that have been linked to hydrothermal vents on the bottom of Earth's oceans. Such vents are potential cradles of life on Earth, according to previous studies. The data from Cassini, which has been studying Saturn after entering its orbit in 2004, revealed the presence of molecular hydrogen (dihydrogen), methane, and carbon dioxide, with the amount of methane presenting a particular interest to the scientists."We wanted to know: Could Earthlike microbes that 'eat' the dihydrogen and produce methane explain the surprisingly large amount of methane detected by Cassini?" shared one of the study's lead authors Régis Ferrière, an associate professor in the department of Ecology and Evolutionary Biology at the University of Arizona.
Earth's hydrothermal vents feature microorganisms that use dihydrogen for energy, creating methane from carbon dioxide via the process of methanogenesis.
Searching for such microorganisms known as methanogens on the seafloor of Enceladus is not yet feasible. Likely, it would require very sophisticated deep diving operations that will be the objective of future missions.
So, Ferrière's team took a more available approach to pinpointing the origins of the methane, creating mathematical models that attempted to explain the Cassini data. They wanted to calculate the likelihood that particular processes were responsible for producing the amount of methane observed. For example, is the methane more likely the result of biological or non-biological processes?
They found that the data from Cassini was consistent with either microbial activity at hydrothermal vents or processes that have nothing to do with life but could be quite different from what happens on Earth. Intriguingly, models that didn't involve biological entities didn't seem to produce enough of the gas.
"Obviously, we are not concluding that life exists in Enceladus' ocean," Ferrière stated. "Rather, we wanted to understand how likely it would be that Enceladus' hydrothermal vents could be habitable to Earthlike microorganisms. Very likely, the Cassini data tell us, according to our models."
Still, the scientists think future missions are necessary to either prove or discard the "life hypothesis." One explanation for the methane that does not involve biological organisms is that the gas is the result of a chemical breakdown of primordial organic matter within Enceladus' core. This matter could have become a part of Saturn's moon from comets rich in organic materials.
A global survey shows the majority of countries favor Android over iPhone.
- When Android was launched soon after Apple's own iPhone, Steve Jobs threatened to "destroy" it.
- Ever since, and across the world, the rivalry between both systems has animated users.
- Now the results are in: worldwide, consumers clearly prefer one side — and it's not Steve Jobs'.
A woman on her phone in Havana, Cuba. Mobile phones have become ubiquitous the world over — and so has the divide between Android and iPhone users.Credit: Yamil Lage / AFP via Getty Images.
Us versus them: it's the archetypal binary. It makes the world understandable by dividing it into two competing halves: labor against capital, West against East, men against women.
These maps are the first to show the dividing lines between one of the world's more recent binaries: Android vs. Apple. Published by Electronics Hub, they are based on a qualitative analysis of almost 350,000 tweets worldwide that presented positive, neutral, and negative attitudes toward Android and/or Apple.
Steve Jobs wanted to go "thermonuclear"
Feelings between Android and Apple were pretty tribal from the get-go. It was Steve Jobs himself who said, when Google rolled out Android a mere ten months after Apple launched the iPhone, "I'm going to destroy Android, because it's a stolen product. I'm willing to go thermonuclear war on this."
Buying a phone is like picking a side in the eternal feud between the Hatfields and the McCoys. Each choice for automatically comes with an in-built arsenal of arguments against.
If you are an iPhone person, you appreciate the sleekness and simplicity of its design, and you are horrified by the confusing mess that is the Android operating system. If you are an Android aficionado, you pity the iPhone user, a captive of an overly expensive closed ecosystem, designed to extract money from its users.
Even without resorting to those extremes, many of us will recognize which side of the dividing line that we are on. Like the American Civil War, that line runs through families and groups of friends, but that would be a bit confusing to chart geographically. To un-muddle the information, these maps zoom out to state and country level.
If the contest is based on the number of countries, Android wins. In all, 74 of the 142 countries surveyed prefer Android (in green on the map). Only 65 favor Apple (colored grey). That's a 52/48 split, which may not sound like a decisive vote, but it was good enough for Boris Johnson to get Brexit done (after he got breakfast done, of course).
And yes, math-heads: 74 plus 65 is three short of 142. Belarus, Fiji, and Peru (in yellow on the map) could not decide which side to support in the Global Phone War.
What about the United States, home of both the Android and the iPhone? Another victory for the former, albeit a slightly narrower one: 30.16 percent of the tweets about Android were positive versus just 29.03 percent of the ones about Apple.
United States: Texas surrounded!
Credit: Electronics Hub
There can be only one winner per state, though, and that leads to this preponderance of Android logos. Frankly, it's a relief to see a map showing a visceral divide within the United States that is not the coasts versus the heartland.
- Apple dominates in 19 states: a solid Midwestern bloc, another of states surrounding Texas, the Dakotas and California, plus North Carolina, New Hampshire, and Rhode Island.
- And that's it. The other 32 are the United States of Android. You can drive from Seattle to Miami without straying into iPhone territory. But no stopovers in Dallas or Houston – both are behind enemy lines!
North America: strongly leaning toward Android
Credit: Electronics Hub
Only eight of North America's 21 countries surveyed fall into the Apple category.
- The U.S. and Canada lean Android, while Mexico goes for the iPhone.
- Central America is divided, but here too Android wins hands down, 5-2.
Europe: Big Five divided
Credit: Electronics Hub
In Europe, Apple wins, with 20 countries preferring the iPhone, 17 going for Android, and Belarus sitting on the fence.
- Of Western Europe's Big Five markets, three (UK, Germany, Spain) are pro-Android, and two (France, Italy) are pro-Apple.
- Czechia and Slovakia are an Apple island in the Android sea that is Central Europe. Glad to see there is still something the divorcees can agree on.
South America: almost even
Credit: Electronics Hub
In South America, the divide is almost even.
- Five countries prefer Android, four Apple, and one is undecided.
- In Peru, both Android- and Apple-related tweets were 25 percent positive.
Africa: watch out for Huawei
Credit: Electronics Hub
In Africa, Android wins by 17 countries versus Apple's 15.
- There's a solid Android bloc running from South Africa via DR Congo all the way to Ethiopia.
- iPhone countries are scattered throughout the north (Algeria), west (Guinea), east (Somalia), and south (Namibia).
Huawei — increasingly popular across the continent — could soon dramatically change the picture in Africa. Currently still running on Android, the Chinese phone manufacturer has just launched its own operating system, called Harmony.
Middle East: Iran vs. Saudi Arabia (again)
Credit: Electronics Hub
In the Middle East and Central Asia, Android wins 8 countries to Apple's 6.
- But it's complicated. One Turkish tweeter wondered how it is that iPhones seem more popular in the Asian half of Istanbul, while Android phones prevailed in the European part of the city.
- The phone divide matches up with the region's main geopolitical one: Iran prefers Android, Saudi Arabia the iPhone.
Asia-Pacific: Apple on the periphery
Credit: Electronics Hub
Another wafer-thin majority for Android in the Asia-Pacific region: 13 countries versus 12 for Apple — and one abstention (Fiji).
- The two giants of the Asian mainland, India and China, are both Android countries. Apple countries are on the periphery.
- And if India is Android, its rival Pakistan must be Apple. Same with North and South Korea.
Experts point to the fact that both operating systems are becoming more alike with every new generation as a potential resolution to the conflict. But as any student of human behavior will confirm: smaller differences will only exacerbate the rivalry between both camps.
Maps taken from Electronics Hub, reproduced with kind permission.
Strange Maps #1096
Got a strange map? Let me know at firstname.lastname@example.org.
It marks a breakthrough in using gene editing to treat diseases.
This article was originally published by our sister site, Freethink.
For the first time, researchers appear to have effectively treated a genetic disorder by directly injecting a CRISPR therapy into patients' bloodstreams — overcoming one of the biggest hurdles to curing diseases with the gene editing technology.
The therapy appears to be astonishingly effective, editing nearly every cell in the liver to stop a disease-causing mutation.
The challenge: CRISPR gives us the ability to correct genetic mutations, and given that such mutations are responsible for more than 6,000 human diseases, the tech has the potential to dramatically improve human health.
One way to use CRISPR to treat diseases is to remove affected cells from a patient, edit out the mutation in the lab, and place the cells back in the body to replicate — that's how one team functionally cured people with the blood disorder sickle cell anemia, editing and then infusing bone marrow cells.
Bone marrow is a special case, though, and many mutations cause disease in organs that are harder to fix.
Another option is to insert the CRISPR system itself into the body so that it can make edits directly in the affected organs (that's only been attempted once, in an ongoing study in which people had a CRISPR therapy injected into their eyes to treat a rare vision disorder).
Injecting a CRISPR therapy right into the bloodstream has been a problem, though, because the therapy has to find the right cells to edit. An inherited mutation will be in the DNA of every cell of your body, but if it only causes disease in the liver, you don't want your therapy being used up in the pancreas or kidneys.
A new CRISPR therapy: Now, researchers from Intellia Therapeutics and Regeneron Pharmaceuticals have demonstrated for the first time that a CRISPR therapy delivered into the bloodstream can travel to desired tissues to make edits.
We can overcome one of the biggest challenges with applying CRISPR clinically.
"While these are early data, they show us that we can overcome one of the biggest challenges with applying CRISPR clinically so far, which is being able to deliver it systemically and get it to the right place," she continued.
What they did: During a phase 1 clinical trial, Intellia researchers injected a CRISPR therapy dubbed NTLA-2001 into the bloodstreams of six people with a rare, potentially fatal genetic disorder called transthyretin amyloidosis.
The livers of people with transthyretin amyloidosis produce a destructive protein, and the CRISPR therapy was designed to target the gene that makes the protein and halt its production. After just one injection of NTLA-2001, the three patients given a higher dose saw their levels of the protein drop by 80% to 96%.
A better option: The CRISPR therapy produced only mild adverse effects and did lower the protein levels, but we don't know yet if the effect will be permanent. It'll also be a few months before we know if the therapy can alleviate the symptoms of transthyretin amyloidosis.
This is a wonderful day for the future of gene-editing as a medicine.
If everything goes as hoped, though, NTLA-2001 could one day offer a better treatment option for transthyretin amyloidosis than a currently approved medication, patisiran, which only reduces toxic protein levels by 81% and must be injected regularly.
Looking ahead: Even more exciting than NTLA-2001's potential impact on transthyretin amyloidosis, though, is the knowledge that we may be able to use CRISPR injections to treat other genetic disorders that are difficult to target directly, such as heart or brain diseases.
"This is a wonderful day for the future of gene-editing as a medicine," Fyodor Urnov, a UC Berkeley professor of genetics, who wasn't involved in the trial, told NPR. "We as a species are watching this remarkable new show called: our gene-edited future."