1. Being a part of the @techstars s2020 ( @WesternUnion ) network, I’m glad to see this shared by @bfeld

I’ve raised $3.3M and made it last over 5 years. I’m a non technical solo founder that pivoted 2 years ago. Built a FT highly technical team. https://feld.com/archives/2020/07/thoughts-on-sourcing-black-companies-and-entrepreneurs.html

2. Launched a B2B2C platform available via web and API for hundreds of business customers and current tens of thousands of 1099 works. Everything is up an to the right.

All from Dallas TX. That’s right a black guy building real modern tech in Dallas.

3. All (mostly) all I hear is shit like this:
We discussed Gig Wage within our investment team and really like the developer-centric payments solution you have built for the 1099 worker market.

4. With remote work on the rise, the increase in outsourced contractors, we believe that you are entering an exciting market segment here. The issue we see for a fit with (no black ppl on our team or in our portfolio Ventures) is that we'd like to see a little more traction...

5. ... validate a scalable customer acquisition and proven-product market fit and are therefore not able to build enough excitement to dive in deeper here.

6. Now let’s be clear I don’t have a problem w/ VCs telling me no. That’s expected when they aren’t a fit. But if u have conviction in the macro space, are serious abt diversity & understand the value that you are leaving on the table. How does traction keep u from diving deeper?

7. Thanks to the @techstars network I’ve talked to several successful white entrepreneurs that have raised very strong rounds with less traction some with almost NO traction. They share stories about little to no diligence and how it’s about confidence and simplifying the pitch.

8. Confidence AINT the problem over here. Storytelling is what I do. Macro markets? Try me. Presentation? Packaging? Decks? Memo? Referencable customers that love @GigWage ? Strong team etc etc but not enough traction to just dive deeper? Your loss.

9. Listen we are in a Gr8 place so I’m not complaining I’m just spitting actual factual. The folks that have decided to rock with us decided to do so despite how early we were. Folks like @maryGrove @dhall3 @SteveCase and the @RiseOfRest @revolution squad.

10. Again I’m built for the grind so it is what it is. Sit back and watch how we finish out 2020. Underfunded, during a pandemic, amid financial dislocation, as a black entrepreneur enduring social unrest & racial inequality etc. WE WILL WIN.

Ad Astra.