An Opinion Piece — featuring COVID 19, George Floyd & Venture Capital
Written by Vanessa Sefa and Joshua Olusanya
The Impact of COVID-19 on the BAME Community
Living in the rat race invariably means that so much happens and passes us by — working from home has given me time to reflect. With COVID-19 presenting us with a “new norm”, it has also unveiled many underlying uncomfortable truths within our society today.
For example, despite data indicating individuals from the BAME (Black, Asian, Minority, Ethnic) population four times more likely to die from COVID-19 — this has been disproportionately mirrored in COVID-19 research. The impact of COVID-19 on several organ systems, including the skin (the single separation of races) has disproportionately catalogued cases on white skin. A recent Wiley article using the Fitzpatrick skin scale to evidence this found of 46 COVID-19 articles that met their inclusion criteria:
92% (120/130) showed skin types I-III, 6% (7/130) showed patients with type IV skin, and 2% (3/130) could not be classified because they depicted only acral skin. There were no clinical images representing Fitzpatrick type V or VI skin.
This has been, and is detrimental to the potential advancements in care for BAME individuals. This is because dermatologists and other healthcare providers are less likely to identify the various manifestations of COVID-19 in BAME patients, who are otherwise asymptomatic.
This horrifying underrepresentation in research coupled with an over-representation of BAME staff in the NHS (one in five of NHS staff in England are from a BAME background, which accounts for half of all doctors in London) and often low-paid front-line work, creates a cruel concoction: High exposure + high-risk populations = High mortality rates for BAME groups.
Accounting for a significant share of key workers keeping the nation operating during the lockdown, many Black and minority ethnic workers felt overworked, underpaid, and unprotected. This sentiment only grew after the untimely death of Belly Mujinga, who died after falling ill with the coronavirus. Her death came just days after it was alleged that a man who claimed he had COVID-19 spat and coughed at her and a colleague in London’s Victoria station. This saw our already unstable society fracture further at the loss of another BAME key worker. The key takeaway here is that; regardless of whether this cruel act was responsible for the transmission of the virus, it should have never happened. The disregard for the BAME community, who make up the majority of London’s key workers risking their lives, is underserved and a manifestation of the racial inequalities in the UK.
The Manifestations of Racial Inequality within Modern Day Society
With this heavy burden already weighing deeply on the shoulders of the BAME population, and particularly the Black community, it suffered another blow: the death of George Floyd. The knee held on Floyd’s neck is depressingly metaphoric. In the years prior, Colin Kaepernick knelt to use his social platform to bring police brutality and oppression of black people to light. In doing so, Kaepernick’s silent protest was policed as “not being the right way to protest” and “unpatriotic” resulting in his above-average capabilities on the field being overlooked, leaving Kaepernick a free agent, “a form of punishment” according to an anonymous AFC general manager. Other forms of protests (to name a few) include the 1968 Olympics Black Power salute and the 1996 NBA’s Mahmoud Abdul-Rauf sitting during the anthem. Such public displays of protest, costing individuals millions in sponsorships, contracts, and harassment has not deterred others like Kaepernick from trying as others will in the future.
However, the problem with single peaceful protests is that they don’t make those who occupy the power and can bring about the necessary change uncomfortable. Remaining in dominant control, it is, at most, a mild inconvenience.
Although George Floyd died nearly 4,000 miles away, his death and the associated protests resonate with all of Europe, especially the UK. Many question why. Some even argue it’s extremely far away, it’s so removed; ‘it’s not my problem”.
The overt and covert racism rife around the US finds its mature older sibling in the UK. A more covert, nonchalant, off-the-cuff racism. A “can I touch your hair?”, “do you tan?”, or “you speak well for a black person” racism.
Microaggressions
These microaggressions, however, can be far more aggressive for people of colour. In the UK, “between April 2018 and March 2019, for every 1,000 people, there were only 4 stop and searches for white ethnicities compared with a very contrasting 38 for every 1,000 black people,” This could be argued by some as “just”, with the police simply “doing their job” in crime-ridden streets of Britain. Yet, assuming race is not a measure for criminality, others will look at the statistics and say otherwise: “Black people had the highest stop and search rates in every police force area for which there was data”. This excessive racial profiling of Black people is mirrored in Minneapolis, the city of George Floyd’s murder, where African-Americans account for 60% of the people shot by Minneapolis police between late 2009 and May 2019, despite accounting for less than 20% of the population. Racism in America is undoubtedly more sensationalised — partly due to the differences over gun regulations resulting in more costly outcomes — but that does not excuse the UK.
The problem with microaggressions in the UK is the psychological gaslighting of victims which sustains systemic racism. When Black people in the UK voice their grievances about the systems and how their lives feel undervalued, they are met with responses like “at least it’s not the US”, “These things don’t happen” and, the most irking, “All lives matter”.
Unequivocally, yes, all lives do matter. But, to say “All lives matter”, we seem to forget that White lives always have. The response decentralises discussion surrounding disproportionate police brutality, disenfranchisement, and institutional racism that exists. “All lives matter” instead focuses on the inclusion of White people and avoids engaging in genuine, meaningful and open dialogue about race-based issues.
Racism in the UK is insidious and like the virus COVID-19, it spreads. To cure systemic and institutional racism the remedy is simple: collective and conscious effort. This begins on an individual level — as Eliezer Yudkowsky said:
You are personally responsible for becoming more ethical than the society you grew up in
Read (see reading list below). Donate. Sign petitions. Lobby your local MP. Support black businesses. Create/assist initiatives that actively tackle institutional racism. Tune in to news that challenges your echo chamber. Support through non-optic and non-performative allyship.
Valiant single peaceful protests from the likes of Kaepernick have unfortunately fallen short of igniting the change they so wanted. Today, collective active protests have taken centre stage. Whichever way Black/BAME people choose to protest, it is not your choice to determine how an oppressed group protests. This is why sustained, collective protest, on all levels, for the #BlackLivesMatter movement is necessary. It requires white people who control the dominant culture and are in positions of power to use their positions as gatekeepers; to open doors and enable equal opportunity.
Supporting the diversity and empowerment of those with protected characteristics such as gender, sexuality and disability has never been seen as “too political” — so why is race? Collective protest through educational institutions, the justice system, employers and all other “apolitical” groups is mandatory. Racism does not exist in pockets, it happens all over. Racism exists in the shadows amongst good, well-intended people. Racism exists within people who are agents of a wider-system. Racism exists within fundamentally racist legislation.
As anti-racist allies, it is your duty to join black voices to speak up against the devaluing of Black lives until they, finally, matter.
Venture Capital & Diversity
The recent racial injustices in America have (from what I have observed) had very little coverage in the overall VC space, and even less so in the European VC space. To pre-empt, a typical VC’s response would be to argue that adopting an apolitical stance and choosing not to address this issue is the best way to go. However, silence, in this case, is inadvertently compliance, as it brings us no closer to the goal: racial equality. When it comes to racial inequality, it’s important to make one thing clear: there is no middle ground. To support the underrepresented, the underserved and the marginalized is to be against racial inequality. Every other action, whether passive or active, works in the favour of racial inequality. By omitting to voice our disapproval of wrongdoings, who do we think benefits from that?
Unsurprisingly, the response from the VC community has been sparse. This is an industry where year-by-year it is peppered with countless reports reiterating the same message: Diversity within the VC industry is alarmingly low. VCs have consistently failed to reflect the diverse world that we live in, both in their teams (especially their investment teams) and founders they back, despite research exemplifying that diversity is directly proportional to higher fund returns. As a response to this, many VCs have exercised what is known as performative allyship:
Performative allyship… is when an individual from a majority or privileged group (white/straight/cis/abled) professes their support of and/or solidarity with a marginalized group (identifies themselves as an ally) in a way that either isn’t helpful to that group, draws attention away from that group, or actively harms that group.
Whilst many VCs mean well, their actions, in the form of hosting and sponsoring diversity events and crowded networking sessions, can at times have very little impact. A more direct and tangible approach is required for change. The same unconscious biases that emerge when reviewing candidates (I urge you to check out Be Applied: an unbiased and anonymous recruitment tool) and founders will continue to persist. Nothing inwardly has changed, thus yielding the same result.
To address this, VCs must adopt a non-optical allyship, which in itself is a multifaceted process. VCs must:
- Acknowledge that the problem exists (it is a homogeneous industry), and then secondly come to terms with the fact that VCs are part of the problem.
- Actively highlight their unconscious biases and then come to terms with the rationale behind those beliefs, before any active change can happen. Until then, the ecosystem will be viciously circular, maintaining its homogeneous state, where VCs continue to hire and fund people with the same characteristics and backgrounds and exclude people from ethnic minorities.
- Make a conscious effort to engage with BAME backgrounds, unlearn any unconscious biases, and open up the industry.
The outbreak of COVID-19 was met with a swarm of public statements from firms addressing the topic with positively reassuring messages for founders and business connections. On the contrary, when the pandemic of racism also reared its head, it was met by the VC industry with relative silence. This made me deeply question where this solidarity was following the death of George Floyd and amid the Black Lives Matter movement? Why was racial inequality considered a problem for some and not for all? Why had this topic been unaddressed?
At Notion Capital, where I work as an off-cycle analyst, I have seen genuine efforts to tackle the lack of diversity in the VC industry through the Notion led initiative, Included VC, along with 10 other European VC Partners. Included VC is a 12-month long fellowship for 30 fellows from underrepresented backgrounds and overlooked communities. They receive foundational learning content, 1–1 and group mentoring, expert VC masterclasses, deal-flow investment committees, along 2 European in-person summits. With this fellowship, my firm, apace with 10 other European Partners, clearly do understand and are aware that there is a racial imbalance within the VC industry. Which is why I was all the more surprised when Notion was silent on racial injustices taking place in America and the Black Lives Matter Movement.
I reflected and wondered what I could do as a junior employee in a VC firm to voice my thoughts, despite the fear of being judged and making others feel uncomfortable — whilst also ensuring no boundaries were being crossed. Thus, after much reflection and conversation, I decided to speak up and share a think piece internally, much like this one, to illustrate the gravity of the current climate, and what it means especially for a black person in the UK. I was happy to see that this (somewhat small) action of mine triggered a series of rapid & intense conversations across the firm on how we can take action and implement some changes within the company.
#BlackLivesMatter ought to be addressed as any pandemic, as it impacts everyone: Black or White. The misconception here is that many have the impression that racism is not a pandemic in of itself, but it is. Regardless, what’s happening to Black people in America (and globally) is barbaric and unjust. If you take anything away from what you have read here today, let it be this: You do not have to be Black to be outraged — you just need to be human.
As a British born Black African living in the UK, I have always found it difficult to generate dialogue on topics related to race with white people as it’s always seemed to yield the most awkward of silences or an uncomfortable brush under the carpet. Whilst I can concede that these conversations can be difficult to have, it is conversations of this nature that bring about the most change. We are all familiar with the fact that very little growth can come from one’s comfort zone, and in writing this message, I have had to step out of my comfort zone. I implore you to do the same.
Addressing issues like these can make many people, irrespective of race, feel very uncomfortable. Unfortunately, that is the harsh reality of it — regardless of the way racial inequality is dressed, many will never be comfortable with it. Nonetheless, this does not mean it should not be addressed.
To conclude, both COVID-19 and the death of George Floyd have shone a light on the racial inequalities deep-rooted within the modern-day society. Whilst the lack of diverse voices in no way equates to the loss of life, should diversity become a collective priority for VCs, not only will VCs benefit as businesses, but it will help disseminate the racial imbalance reverberating through the industry.
Whilst many of you may have the impression that issues like these do not have an impact on your black colleagues, given that many of us seldom vocalise our thoughts or feelings (which I hope you understand is intentional) — they do. We are simply aware that messages like these aren’t always met with the understanding, empathy and openness that they desperately need & warrant.
I leave you with this: what actions (albeit small) will you undertake within the next day, month and year to ensure that we are moving towards racial equality?
