From Fortune Magazine:

In February 2017, Susan Fowler exposed the sexual harassment she faced at Uber, sparking the tech MeToo movement. 6 years later, fake allyship has led to little progress in DEI. The State of Women in Tech and Startups report shows that 42% of women in tech have experienced harassment.

Despite companies increasing DEI job listings, investments were minimal, and DEI budgets were the first to be cut in 2023. As Gen Z enters the workforce, they seek genuine allyship. Currently, 98.6% of U.S. asset management is done by white men, resulting in minimal VC funding for underrepresented groups.

Data shows that diverse-led startups generate higher ROI, yet the needle is not moving towards inclusivity. New legislation in California requires diversity reporting for VC and private equity firms. Massachusetts is also considering an act to encourage investment in diverse-led startups and protect against gender discrimination in investor relationships.

Cindy Gallop of MLNP questions if companies and investors are just talking about supporting women and underrepresented groups, or if they are actually taking action. Allyson Kapin, founder of Women Who Tech, is actively investing in women-led and BIPOC startups, urging more support for diversity in tech and startups.



Read more: Performative allyship has done more harm than good for women in tech. Here’s why