Share to Twitter Share to Linkedin A couple of years ago, two old friends found themselves both in an unusual position: They were venture capitalists of color in a business that is dominated by white people. In 2021, Austin Clements and Ajay Relan formed their own firm, Slauson & Co., named for the famous thoroughfare in south L.A. It’s one of the highest-profile of many recently formed firms, initiatives and funds – many started in the wake of George Floyd’s murder — that aim to diversify entrepreneurship. The premise is that diverse venture capitalists will fund more diverse founders, who in turn, as they succeed, will create jobs and wealth in diverse communities. It’s a questionable premise in its ambition. Only a tiny fraction of startups in the United States, about 1%, receive venture capital. Even fewer succeed. And VC-backed winners tend to employ relatively few people, because part of the profitability they need to scale depends on keeping … [Read more...] about In Slauson & Co., Google Investor Ron Conway Is Betting On More Than Money