Pando.com's Sarah Lacy on Why Diversity Will Strengthen Your Company
Inclusion in Silicon Valley is actually worse than it was during the dotcom bubble, according to Pando.com’s Sarah Lacy. The long-time tech journalist suggests companies need to make sure they're diverse from inception to make sure they continue to prioritize the quality as they grow.
"There’s so much data that shows if 40 percent of your team is diverse when there’s six of you, it’ll be diverse when there’s thousands of you," Lacy told Cheddar on Monday. "Start-ups put this off, they think 'well that’s a problem we can solve later.'"
Unfortunately, Lacy argues, that is not the case. Lacy says that even if it means moving slower, venture capitalists should make this a prerequisite for the companies they invest in. She says that the culture brewed by that lack of diversity alienates women and people of color. On the other hand, she says, diversity makes teams stronger.
"A lot of women don’t want to come to 'Bro-ville,'" she said.
Lacy also discussed her new book, "A Uterus Is a Feature, Not a Bug: The Working Woman's Guide to Overthrowing the Patriarchy." In it, she breaks down the overwhelmingly male-centric culture in the technology sector.
Lacy told Cheddar she thought the book would be published at a time the United States had its first female president. What she thought would be a "very celebratory" environment for women turned out to be what she says is "quite the opposite."
Still, what encouraged Lacy to come forward and speak about this pervasive issue of discrimination in tech was her experience as a mother, which pushed her to become feminist, as well as millennial women who are outspoken in pointing out misogyny, a quality less apparent in her fellow Gen X'ers.
"Gen X women like me didn’t really become feminist until they’re about like 35," she said. "Until they started getting older and started figuring out that things we thought were just paying our dues when we were young, there was a lot of discrimination going on in there."
Orangetheory Fitness is redefining the future of workouts with smarter tech, strength-based programming, and community-driven studios built for what’s next.
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."