Venture capital investing, as currently practiced, is failing the majority of the world’s people. Need proof? Check out these stats:
More than half of all venture capital in the world goes to just three U.S. states: California, New York and Massachusetts.
Less than 5 percent of venture capital goes to women, and in Africa, 90 percent of startup investment goes to expats.
Out of over 150 “unicorn” companies across the world, only 15 percent are solving problems in food, health, energy, agriculture, financial services or housing – which happen to be the top six areas where the majority of the world’s population spends its budget.In short, investors are often backing the wrong ideas for the wrong reasons, hoping to strike it rich by dumping billions of dollars into frivolous apps designed to benefit only a wealthy sliver of the world’s population. Meanwhile, innovative solutions to pressing global challenges that impact billions of […]