Joshua (JT) Taylor’s Post

Why Solving the Wealth Gap with Startups is Crucial We talk about how the wealth gap needs to be solved and it is such a pivotal mission in the Black community but here we ask ourselves, why solve the wealth gap with startups? 1. Economic Empowerment and Job Creation Startups are engines of economic growth. They drive innovation, create jobs, and stimulate economic activity. 2. Building Generational Wealth One of the critical issues in the wealth gap is the disparity in generational wealth. African American and Hispanic families have significantly lower median wealth compared to white families. Startups have the potential to generate substantial financial returns. 3. Promoting Inclusive Economic Growth Supporting diverse startups promotes inclusive economic growth. Venture capital firms focusing on diversity, such as Capitalize VC and Harlem Capital, are investing in founders who bring unique perspectives and innovative solutions to market problems. 4. Encouraging Social Mobility Startups offer a pathway to social mobility, especially for individuals from underprivileged backgrounds. Entrepreneurship allows individuals to leverage their skills and ideas to create economic opportunities that might not be available through traditional employment. 5. Addressing Systemic Inequities Systemic inequities in education, employment, and access to capital have long contributed to the wealth gap. By intentionally directing resources towards startups led by women, people of color, and other underrepresented groups, we begin to dismantle these barriers. 6. Stimulating Innovation and Market Expansion Diverse teams are known to be more innovative and better at problem-solving. A study by the Boston Consulting Group found that companies with more diverse management teams have 19% higher revenues due to innovation. 7. Harnessing Untapped Talent and Potential There is a vast pool of untapped talent among underrepresented communities. By providing opportunities and resources to diverse founders, we unlock this potential, leading to a more dynamic and robust economy. The Venture Collective (TVC) and BLCK VC are examples of organizations working to harness this talent by providing the necessary support to diverse entrepreneurs. Investing in diverse startups is investing in the future. It’s about creating opportunities, breaking down barriers, and building a more inclusive and dynamic economy. As more venture capital flows into the hands of underrepresented founders, we move closer to bridging the wealth gap and achieving true economic equality

Investors are skeptics. We are supposed to be. It's the dance between dreaming and skepticism . The balance of art and science. If we invested in every idea we liked or found interesting we’d be out of money in a week. Some investors are more optimistic than others, some are more skeptical than others. Why is skepticism good? 1️⃣ Ideas are a dime a dozen, swift execution is not. 2️⃣ Investors need to see proof, whether it’s from your background and/or your current company, you must prove that you aren’t new to building and achieving something. 3️⃣ Investors are risk averse for good reason. If you haven't built a product or led a project or team at a company before, I'd reconsider starting a company because the learning curve might be too high. 4️⃣ More importantly, why YOU? You're Not the only creative and innovative person in the world so why are you better than the next person to serve your market and customers better. 5️⃣ VC’s mostly invest other people's money. Limited Partners expect to make a return (3-4x minimum) on their money, so selecting to invest has a direct impact on the investors job. ⏩ There are more reasons to be skeptical about founders and their companies but keep dreaming, be rationally optimistic, be honest with yourself and believe in your vision! ⏪ #investors #venturecapital #startups Fifth Star Funds #founders #earlystage #lps #writing

Happy Friday friends! I am starting to do featured posts about #blackfounders doing cool things & leading in the startup universe. Who should I be talking to? Ruben Harris of Career Karma? Iman Abuzeid of Incredible Health? Wemimo Abbey of Esusu? Fawn Weaver of Uncle Nearest, Inc.? Who else? Drop those names and companies in the comments! Talk to you amazing people soon 😀 #blackfounders #diversity Fifth Star Funds #history #featured #startups

Why do black and discriminated against founders need to be helped? "Isn't America based on equality already? Our constitution was made so all citizens could have equal rights and opportunities, right?" "I dont think we have much racial discrimination anymore, isn't it 2024?" Well, according to a few statistics you may or may not know, there are several reasons why this is the perfect time why black founders need support more than ever and why Fifth Star Funds exist. 1️⃣ Historical and Systemic Inequities: Access to Capital: Black entrepreneurs receive less than 1% of venture capital funding annually in the United States, despite representing about 13% of the population . Network Disparities: Studies show that 77% of venture capital is concentrated in just three states: California, New York, and Massachusetts, where the Black population is relatively smaller, limiting network opportunities for Black founders . Bias and Discrimination: Research indicates that investors are more likely to fund startups led by people who share their racial and gender background, which can disadvantage Black founders . 2️⃣ Economic Empowerment: Wealth Gap: The liquid wealth of white families is roughly 22 times greater than that of Black families. Supporting Black entrepreneurship can be a significant step towards reducing this gap . Job Creation: Black-owned businesses employ approximately 920,000 people, contributing significantly to employment within Black communities . 3️⃣ Innovation and Market Potential: Diverse Perspectives: Diverse teams are 70% more likely to capture new markets, and companies with more diverse management teams have 19% higher revenues due to innovation . Untapped Markets: Black consumers have a spending power of over $1.4 trillion, indicating significant market opportunities for businesses that understand and cater to their needs . 4️⃣ Social Justice and Equity: Representation: Less than 1% of venture-backed founders are Black, highlighting the underrepresentation and the need for greater inclusivity in the entrepreneurial ecosystem . Fairness: Providing equitable opportunities in entrepreneurship helps ensure that everyone, regardless of race, has the chance to succeed and contribute to economic growth. 5️⃣ Community Impact: Role Models: Successful Black entrepreneurs serve as vital role models. Studies show that mentorship can increase the success rate of new businesses by as much as 50% . When one rises, hopefully we can all rise as a nation and change the trajectory of history starting with Fifth Star Funds. #fundraising #business #venturecapital #investing #diversity

I've been celebrating Juneteenth since birth because it's my twin Ericka Jones and I's birthday! As an adult, I haven't really cared about my birthday. However, upon reflecting on life's many ups and downs, I've come to understand that life truly is a gift. No matter the circumstances, I realize I have a good life. I posted this picture because it reminds me of a few important things: Cherish those who support you, never let them go, and bring them along on your journey. My twin sister and older brother Gordon Taylor have been there since my literal inception, and I wouldn’t be in the role I am today without them. Business is personal: In Western culture, our careers can often define us. Working with my brother at our startup was deeply personal because our company's goal was bigger than us. This experience led me to pursue interests that truly matter to me, regardless of the outcome. While many of us on LinkedIn are privileged, we are all chasing freedom in some form. True freedom starts in the mind. I hope you all have a great holiday and continue to chase freedom in both business and personal life, whatever that may look like for you. #birthday #juneteenth #holiday #freedom #business

I remember posting at the beginning of last year about God given purpose. How each of us have that if we are willing to dig deep and find it. For me a big part of that purpose is helping and uplifting the prosperity for African Americans and those of African descent. In the last 8 years I’ve run a startup, worked at a startup and been in venture capital. Now, I am taking the leap to walk in my God given purpose. I am the new Director of Fifth Star Funds! A philanthropic venture fund that invests in the Friends & Family round for Black founders. We exist to unlock wealth in the Black community and decrease the wealth gap. If we aren’t investing in the Friends & Family rounds, there won’t be a preseed, seed and beyond for the many. Join me on this journey as I will be posting regularly about time living the Fifth Star ethos. Thank you Tim Huelskamp, Kyle Backer, Osayanmo Osarenkhoe, Tracey Suppo, Nate Pelzer and Stella Ashaolu for this grand opportunity. Follow our newsletter Here > https://lnkd.in/gP9gvy4p Donate Here > https://lnkd.in/gXakXRcW. I’d love to speak with those interested in helping move the mission forward. #mission #fundraising #impactinvesting #philanthropy #venturecapital #startups