The Cake
Fintech May Hold the Key to Closing the Racial Wealth Gap
This founder is using it to drive her company’s mission
Starting with the Industrial Revolution, wealth in the United States has been built through entrepreneurship. Think Rockefeller, Ford, Carnegie, Vanderbilt, Mellon, and more recently, the Waltons. That wealth has created influence over many aspects of our lives. It has created foundations, institutions, private funds, and the consolidation of wealth among a powerful elite.
We are now decades into the digital revolution, and we are already seeing the next century of wealth being created with the likes of Gates, Bezos, and Zuckerberg, just to name a few.
The problem is that the winners don’t look like the United States that we now know. If left alone, the status quo means that tech will continue to be White and male unless we create real opportunities for diverse entrepreneurs. The doors of opportunity need to be opened wide. We need greater access to capital and to the elite networks that help companies succeed.
Much has been said about the racial wealth gap, its origins, and its implications (read more about that here). But less has been said about the importance of entrepreneurship as a unique variable in solving the wealth gap. A recent…
