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Group Backed by Top Companies Moves to Combat A.I. Bias in Hiring

By lucidcapitalism | December 8, 2021

(New York Times) Artificial intelligence software is increasingly used by human resources departments to screen résumés, conduct video interviews and assess a job seeker’s mental agility. Now, some of the largest corporations in America are joining an effort to prevent that technology from delivering biased results that could perpetuate or even worsen past discrimination. The…

Rohingya sue Facebook for $150B, alleging role in violence

By lucidcapitalism | December 7, 2021

(AP) Rohingya refugees sued social network powerhouse Facebook for more than $150 billion, accusing it of failing to stop hate speech that incited violence against the Muslim ethnic group by military rulers and their supporters in Myanmar. Years after coming under scrutiny for contributing to ethnic and religious violence in Myanmar, recently revealed internal Facebook…

Ex-Stripe execs, VCs launch new nonprofit to promote ‘responsible’ innovation

By lucidcapitalism | December 6, 2021

(Fast Company) A new nonprofit aims to help fast-growth companies build their businesses by considering societal and environmental impacts from the outset. Responsible Innovation Labs, founded by Hemant Taneja, managing partner at venture firm General Catalyst, and former Stripe executives Jon Zieger and Diede van Lamoen, will help founders innovate with economic inclusion, environmental sustainability,…

Ex-Googler Timnit Gebru Starts Her Own AI Research Center

By lucidcapitalism | December 2, 2021

(Wired) One year ago Google artificial intelligence researcher Timnit Gebru tweeted, “I was fired” and ignited a controversy over the freedom of employees to question the impact of their company’s technology. Thursday, she launched a new research institute to ask questions about responsible use of artificial intelligence that Gebru says Google and other tech companies…

China’s VC giants take aim at climate tech

By lucidcapitalism | December 1, 2021

(Pitchbook) Venture capital fundraising in China is cooling off as investors weigh how to navigate the country’s new regulatory regime. One strategy that’s taking shape: VC firms are aligning themselves with Beijing’s strategic goals by planning big bets on climate-friendly industries. VC investment in Chinese cleantech startups is rebounding, with nearly $8.7 billion invested across…

A for-profit prison company is going public via SPAC, raising ESG concerns in the blank-check space

By lucidcapitalism | December 1, 2021

(CNBC) The red-hot SPAC market could have an ESG problem. Securus Technologies, a prison services company that makes profit from charging families of the incarcerated for phone calls, is in talks to go public via merging with Atlantic Avenue Acquisition Corp, according a person familiar with the matter. While prison services telecoms are less scrutinized…

Will venture capital get cancelled by Gen Z?

By lucidcapitalism | December 1, 2021

(Sifted) The two billion teenagers and young adults born after 1995 that we call Generation Z have been described as many things. They’re seen as uncompromising, not swayed by political or marketing tricks, but also supporters of “cancel culture” — the public and vocal shutting down of speech perceived as problematic. They’re at once entrepreneurial,…

Lina Khan’s Battle to Rein in Big Tech

By lucidcapitalism | November 29, 2021

(The New Yorker) As monopolies and other large companies gain increasing control of our daily lives, Khan is Joe Biden’s pick to do something about it. In the spring of 2011, a recent Williams College graduate named Lina Khan interviewed for a job at the Open Markets Program, in Washington, D.C. Open Markets, which was…

What Happens When You’re the Investment

By lucidcapitalism | November 29, 2021

(The Atlantic) Social capital is becoming economic capital. Alex Masmej revered Steve Jobs—his favorite shirt was emblazoned with Apples that changed the world: Adam’s, Isaac’s, Steve’s. Masmej dreamed of moving to Silicon Valley to start his own company, but he just didn’t have the money. In April 2020, as the world reeled from the coronavirus…

ESG investing has a sustainability blind spot: supply chains

By lucidcapitalism | November 23, 2021

(Fast Company) If you own stocks, chances are good you have heard the term ESG. It stands for environmental, social, and governance, and it’s a way to laud corporate leaders who take sustainability—including climate change—and social responsibility seriously, and punish those who do not. In less than two decades since a United Nations report drew…