More than 400 tech companies have “formed a new group pledging that diversity at VC firms will be an “important consideration” when deciding whether or not to take their money.”  The group entitled Founders for Change includes big-name corporations such as  “Airbnb, Dropbox, Stitch Fix and Lyft”.

According to the venture capital firm Social Capital, in 2016, “89 percent of investment decision-makers at the top 72 U.S. firms were men.”  With such lack of diversity within the industry, corporations within the Founders for Change movement are looking to improve these numbers, even if it’s only a few percentage points.   According to Mercury News, “Founders for Change will likely help accelerate Silicon Valley’s evolution to “a more just society,” but the movement doesn’t address the root of the problem.” And that will always be tough when the overall purpose of organizations like VCs is Return On Investment.

Still, this is a step in the right direction and is sure to bring some type of benefit, no matter how limited.  If this results in a few more minorities being hired at VCs or a few more women-led businesses receiving funding then this was worth it for a beginning movement.