'Tokenized': Inside Black Workers' Struggles at the King of Crypto Start-Ups (nytimes.com) 197
Nathaniel Popper, reporting for The New York Times: One by one, they left. Some quit. Others were fired. All were Black. The 15 people worked at Coinbase, the most valuable U.S. cryptocurrency start-up, where they represented roughly three-quarters of the Black employees at the 600-person company. Before leaving in late 2018 and early 2019, at least 11 of them informed the human resources department or their managers about what they said was racist or discriminatory treatment, five people with knowledge of the situation said. One of the employees was Alysa Butler, 25, who worked in recruiting. During her time at Coinbase, she said, she told her manager several times about how he and others excluded her from meetings and conversations, making her feel invisible. "Most people of color working in tech know that there's a diversity problem," said Ms. Butler, who resigned in April 2019. "But I've never experienced anything like Coinbase."
In Silicon Valley, where entrepreneurs and investors often preach high-minded missions and style themselves as management gurus, Coinbase has held itself up as a model. Since the start-up was founded in 2012, Brian Armstrong, the chief executive, has assembled memos and blog posts about how he built the $8 billion company's culture with distinct hiring and training practices. That has won him acclaim among influential venture capitalists and executives. But according to 23 current and former Coinbase employees, five of whom spoke on the record, as well as internal documents and recordings of conversations, the start-up has long struggled with its management of Black employees. One Black employee said her manager suggested in front of colleagues that she was dealing drugs and carrying a gun, trading on racist stereotypes. Another said a co-worker at a recruiting meeting broadly described Black employees as less capable. Still another said managers spoke down to her and her Black colleagues, adding that they were passed over for promotions in favor of less experienced white employees. The accumulation of incidents, they said, led to the wave of departures. On Wednesday, before publication of this article, Emilie Choi, Coinbase's chief operating officer, wrote an email to employees to preemptively question the article's accuracy and said, "We know the story will recount episodes that will be difficult for employees to read." The company posted the email to its public blog. "As Brian shared with the ColorBlock ERG this morning, we don't care what The New York Times thinks. "
In Silicon Valley, where entrepreneurs and investors often preach high-minded missions and style themselves as management gurus, Coinbase has held itself up as a model. Since the start-up was founded in 2012, Brian Armstrong, the chief executive, has assembled memos and blog posts about how he built the $8 billion company's culture with distinct hiring and training practices. That has won him acclaim among influential venture capitalists and executives. But according to 23 current and former Coinbase employees, five of whom spoke on the record, as well as internal documents and recordings of conversations, the start-up has long struggled with its management of Black employees. One Black employee said her manager suggested in front of colleagues that she was dealing drugs and carrying a gun, trading on racist stereotypes. Another said a co-worker at a recruiting meeting broadly described Black employees as less capable. Still another said managers spoke down to her and her Black colleagues, adding that they were passed over for promotions in favor of less experienced white employees. The accumulation of incidents, they said, led to the wave of departures. On Wednesday, before publication of this article, Emilie Choi, Coinbase's chief operating officer, wrote an email to employees to preemptively question the article's accuracy and said, "We know the story will recount episodes that will be difficult for employees to read." The company posted the email to its public blog. "As Brian shared with the ColorBlock ERG this morning, we don't care what The New York Times thinks. "
NYT smears Coinbase? I am not surprised. (Score:4, Insightful)
Meanwhile at NYT... (Score:5, Interesting)
Re:NYT smears Coinbase? I am not surprised. (Score:4, Insightful)
Wow, they really did that "erase what we said and replace it without allowing anyone to know we did it" thing? That's jaw-dropping. In George Orwell's novel "Nineteen Eighty-Four" the protagonist Winston Smith has the exact same job. Only, it's not at the world's most credible newspaper: he works at the Ministry of Truth, whose job it is to spread lies.
"As with the names of the other ministries in Oceania, the name Ministry of Truth means the opposite of what it says. If the Ministry of Love is the place of torture and hate, the Ministry of Truth is where lies are manufactured. Winston works here, rewriting old news articles to reflect the Party's latest version of reality and throwing the old articles down a "memory hole" where they are incinerated. The Ministry of Truth reflects the Party's belief that power is the only truth and that those with the power can make the "truth" into whatever they choose."
https://www.enotes.com/homework-help/book-1984-what-was-main-role-ministry-truth-720
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Obviously they didn't.
Do you have any evidence that nypost article I linked is wrong or do you simply ignore it and go with your wishful thinking?
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You think that they "erase what we said and replace it without allowing anyone to know we did it"? On the internet?
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You just debunked yourself. Clearly many people do know about it because as you say, it was widely reported. Nothing like the Ministry of Truth where things go down the memory hole never to be seen again.
It would be actually scary if that was the case, but in reality the system is working as designed, everyone using their freedom of speech and publishing critiques of each other's work.
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people absolutely convinced that the Hunter Biden laptop thing is real and that the Post was somehow censored and memory holed
Yes, people looked at presented evidence and concluded it is convincing. More so, these emails were corroborated, under oath, by a person on the email distribution list. Then Senate Committee Successfully Verifies All Bobulinski Materials Reviewed To Date [dailycaller.com].
You on, on other hand, chose to ignore presented evidence for political reasons. Then attempted to gaslight the rest of us.
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The never journalistic publication and long ago discredited New Your Post said that?
The same publication which originated the Hunter Biden Laptop conspiracy theory [wikipedia.org]?
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Hi whitroth,
Just to let you know, koxabon707/Russki3343 is a long-time Slashdot troll. You probably know him better as OMBad or 110010001000.
His politics are far-right, and he is obsessed with this website. He's in his 60s. He's a spamming loudmouth with nothing to back up his words. Well done on successfully trolling him :)
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Yeah, I am calling you assholes out.
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Foolish way for any manager to act (Score:4, Insightful)
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If an employee was considered competent and intelligent enough to hire...
Has anyone started to figure out the wickedness of diversity quotas yet? How condescending lowered standards for different skin colors are? And how this might all play out in a real work place where work has to actually get done?
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The goal should not be to lower standards, merely to see if there are better standards to measure someone's value to the company by.
For example if the model that HR uses to filter candidates is "must have attended one of the prestigious universities on our list" they are excluding a large number of potentially great candidates.
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Maybe they only got hired to fill a diversity quota? In SJW land you can't tell until you actually have a conversation with them or see their work yourself.
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They dismiss them as "diversity hires" it just hate black people. It happens sometimes, more often if they get away with it.
I've been skipped on meeting invites (Score:3)
I've been skipped on meeting invites. Even when I was to report on something. Even when something I was in charge of was to be decided on. It happens. Is it racist? Not unless something else is also happening.
If you have not been skipped on a meeting invite, then you have not worked at a large enough company or long enough or many other things.
Even meeting invites are not perfect. Such is life.
GoT (Score:5, Insightful)
I guarantee Uber is like that. Facebook was like this in the early days. Microsoft was like this in it's heyday. Maybe there are exceptions to this but they are exactly that, exceptions. Barely-concealed undercurrents of racism, sexism, classism, and all the other bad "isms" that plague us.
I'm going to get downmodded by people who will say "might doesn't make right" and "you shouldn't condone or explain away bad behavior". These are both true, but I'm simply talking about hard reality here. People who join these companies stand to go from "50k per year" to "owning stock worth millions" in the blink of an eye. It's easy to play nice with others when everyone is earning a halfway decent salary and there's no chance for anyone to strike it filthy rich. Once serious money is on the line, it's going to be mean, cutthroat, nasty and competitive. People will get away with WHATEVER they can in order to get ahead. Alliances will form, backs will be stabbed, and, yes, I'm sorry to say, ugly tribalism, ethnic and religious fault lines will be exposed.
If someone of (insert human group here) joins an outfit like that, they're voluntarily entering a combat arena where only a few stand to reap massive rewards. The rules are lightly enforced at best. They need to go in with their eyes open, make alliances and play as nasty as the guy next to them. Joining an outfit like Coinbase and expecting a pleasant experience is naive. You join for the chance to make millions, and you cut as many throats as you need to.
If you don't like this, there are more established companies, teaching jobs, government jobs, etc. etc. where people play much nicer most of the time.
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We know Uber is like that because they have already been sued and had their dirty laundry aired. For them it seemed to be more about misogyny.
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And screw the company, trash the PR and stock if they don't get their cut. If anything goes, stop whining like little bitches when the cheating isn't in your favor.
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Coinbase has a Problem (Score:4, Insightful)
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The New York Times has a valuation of $7B and makes about $175M in profit a year on revenues of $1.8B. The two companies are actually somewhat comparable in their current financials. We'll see about the future financials or credibility of CoinBase, but those of the New York Times have been tested for a century and a half, and remain intact.
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Are you sure you didn't wan to at least punch NYT into a stock ticker [google.com] before you made that comment?
As far as I see the 5Y, NYT is up 4x since 2016 and has a valuation of $7B. That's a smidge less than Coinbase and a whole hell of a lot more than "zero and falling fast".
So what was on the recorded conversations? (Score:2)
If they're going to bait me by mentioning recordings they need to at least quote some of what was in them ...
why is this 'news' on Slashdot? (Score:1)
Crypto was, is and forever shall be a money laundering cult.
150 years after the end of slavery and you're still segregating members of society ethno-economically by race, far out!
Enough of the clickbait. I refuse to be outraged.
Bigotry sucks (Score:4, Insightful)
The problem with bigotry is that it discriminates on the wrong criteria, one that has absolutely no connection with actual job performance.
In my experience, 25 years in highly productive software development teams, it is underperforming managers that bully and blame those most easily cast as the outsider.
Step one to building high performance teams is dumping toxic people.
True? (Score:2)
"One by one, they left. Some quit. Others were fired. All were Black."
Wait, the narrative is trying to make us think that only employees who left the company were black? I am NOT saying the narrative is wrong. If it is correct, I want more evidence and a clearer statement on that. Cause it's hell of misleading.
That said, a more poignant quote is
"they represented roughly three-quarters of the Black employees at the 600-person company"
Black with a capital B (Score:4, Insightful)
Is that a thing now?
A rule?
Am I White, or white ?
What about Asian, Jewish, Christian, Tall, Fat, Stupid?
All capitalized?
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Asian is capitalized because it is derived from Asia. Similar to French, British and so forth.
Similarly Jewish should be capitalized because it is derived from Judaism. Same with Muslim, Christian and so forth.
There is no proper noun/name from which white, black or tall are derived so no need to capitalize those.
Re:Black with a capital B (Score:5, Interesting)
Still another said managers spoke down to her and her Black colleagues, adding that they were passed over for promotions in favor of less experienced white employees.
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Tolkienized... (Score:3, Funny)
This is WOKE payback (Score:5, Informative)
We focus minimally on causes not directly related to the mission:
* Policy decisions
* Non-profit work: We will do some work here with our Pledge 1% program and GiveCrypto.org, but this is about 1% of our efforts. We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. We shouldn’t ever shy away from making profit, because with more resources we can have a greater impact on the world.
* Broader societal issues:: We don’t engage here when issues are unrelated to our core mission, because we believe impact only comes with focus.
* Political causes: We don’t advocate for any particular causes or candidates internally that are unrelated to our mission, because it is a distraction from our mission. Even if we all agree something is a problem, we may not all agree on the solution.
Re:Isn't it strange... (Score:4, Insightful)
Hey Mr. Racist. I've got news for you, it's not always "whitey" who's performing the discrimination. Those groups you mentioned are more than capable and quite often do discriminate against black people. It seems to be an immigrant right of passage to "hate on blackie" when they come to this country.
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You must not have gotten the memo. Minorities cannot oppress or be racist. Which raises an interesting point: since “caucasian” is no longer the majority race in the US, I guess racism in this country is finally a thing of the past.
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2019 census estimates that 60.1% of Americans are non-Hispanic white.
The only people saying minorities cannot be racist are people pushing the "white people are the oppressed ones now" nonsense.
Two false claims in one short post.
Re: Isn't it strange... (Score:2)
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Yes, I was wrong about "non-hispanic white" not being in the majority. We're still a few years away from that. However, you're completely upside down with your other assertion. "The powerless minorities cannot be racist" has been a progressive battle-cry for quite a while now; seems you haven't been keeping up.
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Most estimates put the point at which white people are no longer a majority in the US at somewhere around 2050. At that point white people will still be the largest group, just not >50% of the total.
Of course you only worry about that because you recognize that being a minority sucks, but rather than make it so that being a minority doesn't suck you want to make sure it never happens.
Re: Isn't it strange... (Score:2, Troll)
Or perhaps blacks just see racism where often there is none. It's so much easier to cry racism than look in the mirror.
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You dish trash you're gonna get trash.
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It's cute how you're acting like you were just having this rational discussion. But the reality is that you were throwing around racist trash. I'd tell you to take your simple mind to a more fitting place, but you're already on Slashdot. Maybe Parlor is accepting applications for racist trash?
Re: Isn't it strange... (Score:2)
There you go again, instead of arguing a pointt you just cry "Waaaacistht!". You're just another dim SJW, probably a white student offended on behalf of others because it makes you feel virtuous. Well you carry on polishing your halo loser.
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They discriminate against white people too. And any indian with too dark a skin colour. And the indians and the chinese don't much like each other. It's almost like they're all human beings.
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Looks like Coinbase is running scared. This makes their previous move of offering severances look like attempting to bribe their critics into silence.
Re:Pull the race cards, retards (Score:4, Insightful)
Or the reverse, Coinbase announced they weren't going to abide by SJW nonsense, so all the media grievance mongers are out for blood and reporting a handful of unverified anecdotes as the company being Literal Hitler 2.0.
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Or the reverse, Coinbase ...
~Captivale
Shouldn't a coin have an obverse? I don't understand a historical figure having a version number and being literal. Literal Zombie Hitler...that makes sense. Or simply Hitler 2.0. That makes sense, too.
Criticism isn't just hurling nonsense whether you do it for love, money, or boredom. Slashdot is a text-based community of scientifically literate members and, largely, competent in their mother tongue. Not all. Standardized, written English is a canon of patterns to approximate precision and specificity i
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Okay, let me ask you then: do you believe that racism or discriminatory behavior are things which exist at all? If so, how would you recognize them?
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Of targeted harassment and being shaken down under the guise of "racism"?
Why not?
Jesse Jackson, Al Sharpton, etc have made EXCELLENT livelihoods out of doing EXACTLY this!
Re:Pull the race cards, retards (Score:4, Insightful)
What were the ratios among qualified applicants?
Most tech companies get very few black applicants, you cannot hire someone who doesn't even apply for the job. Of those that do apply, inevitably some will be unsuitable for the position too (as is the same with applicants from any race).
If you are trying to meet a diversity quota then you end up hiring whatever applicants are available to fulfil that quota, even if they are not qualified for the job. You end up with inferior employees that create resentment among the other employees.
If you do have qualified applicants, then the diversity quotas also act against them as there will always be doubts about their suitability for the role. This causes major problems, the employees will feel like they are token diversity hires even if they're not, other employees will resent them, those that are diversity hires can often be less qualified than other employees and perform to an inferior level.
Hiring should ALWAYS be merit based. If this results in a lack of diversity in the work force then so be it. It is exactly diversity in the population that causes this - different cultures have different attitudes towards school, education and various industries etc. If you grew up in a culture where rejecting school is seen as the thing to do, while paying attention in school and studying is likely to get you bullied then your not likely to be qualified for a decent paying fintech job.
If you want a more diverse workforce you don't buy unsuitable finished products. You go to the source, and ensure the raw materials are made into suitable products. If you change the environment in which kids are brought up, then you change their career opportunities later in life.
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What were the ratios among qualified applicants?
Coinbase is headquartered in San Francisco so it's about 3%, same as the number of black employees at Coinbase. This is very low compared to the rest of the country, but consistent with San Francisco. As I said: no indication that they were hiring for diversity.
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At this point, everything appears to be racist. Guess I'll just have to be a racist. No one's perfect. We just do our best.
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Guess I'll just have to be a racist.
Well hey, I can give a sort of grudging respect for honesty for someone who rather than saying "I'm not racist but..." jut goes with "Well I'm a racist and...".
Re: Pull the race cards, retards (Score:3, Insightful)
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This is a form of racism.
If that is racism, then racism is an integral part of civilized societies. The presumption of being innocent until proven guilty, that is the accusers must prove their accusations beyond any reasonable doubt, is a cornerstone of democracy. The accusations of racism (and sexism, genderism etc.) nowadays are looking like just an excuse for mob rule, hence a menace for our civilization. Think about it before using the word, because your behaviour could turn words like racism and sexism into positive values (wh
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For someone to be proven guilty there has to be an investigation. The goal here is to completely dismiss and ignore the complaint to prevent it being examined in any detail.
Re:Pull the race cards, retards (Score:4, Interesting)
So 11 out of the 15 black employees all colluded to claim discrimination?
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Can you give some citations where the New York Times has manufactured stories? If Fox News reported these claims would you believe them?
Re:Pull the race cards, retards (Score:5, Informative)
Can you give some citations where the New York Times has manufactured stories? If Fox News reported these claims would you believe them?
Here you go...Jayson Blair [wikipedia.org]. I'm too lazy to find others but the fact I can remember one off the top of my head isn't so great.
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So one mentally ill reporter means the entire newspaper cannot be trusted?
Re:Pull the race cards, retards (Score:5, Insightful)
So one mentally ill reporter means the entire newspaper cannot be trusted?
You asked for an example, and the parent provided one. The honorable thing to do is to say "touché" then shut up. Don't change the goal posts just because you're unhappy with the argument you made.
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I'll go with another honorable response: I won't engage with your argument since you are being unnecessarily impolite.
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How many examples do you want? How about we start with the big one: Their Moscow Bureau chief worked to cover up Stalin's genocides and won a Pulitzer Prize for it.
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Are you really surprised that a cryptocurrency company is dodgy? If be surprised if they weren't.
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Re: What happened? (Score:2)
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Perfect Tolerant Liberal 101. "You disagreed with me so you're racist and fascist and placist and a bassist!"
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I thought they were all indentured servants who dare not complain for fear of losing their H1B visas.
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You've never heard of the Model Minority [wikipedia.org]?
That theory ignores Indentured Servitude [wikipedia.org] and its history in the US. Its the kind of theory that is too easy to refute. But that refutation would ignore many factors (like the fact its easy for 2nd generation Irish to hid their lineage). I do feel that theories of this kind do no service to AAs. If you want to hurt people, give them a reason to fail.
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Re:Excluded from meetings (Score:5, Interesting)
Personally I have never met anyone in tech who I would describe as racist or bigoted. Maybe I'm sheltered?
Re:Excluded from meetings (Score:4, Informative)
It's a tech startup, the chance that all their co-workers are white is close to zero. More likely they meant "white" as the left-wing redefinition of "not African-American", first generation legal immigrants from Africa, Asia and Hispanics do a LOT better than any American across the board, so they're frequently lumped in with "white".
Women at Coinbase have rated Compensation, Perks & Benefits, and Happiness as the highest categories they have scored.
Coinbase ranks in the top 10% of other companies in the US with 51-200 Employees for Gender Score.
Diverse employees at Coinbase have rated Compensation, Perks & Benefits, and Happiness as the highest categories they have scored.
Coinbase ranks in the top 5% of other companies in the US with 51-200 Employees for Diversity Score.
Coinbase offended the left because they don't want to pay off the likes of Ibram X. Kendi who charges $20,000 + expenses to lecture your company on how they are racist. Their leadership isn't giving in to the left.
When asked why Coinbase had not shown public support for the Black Lives Matter movement. Armstrong declined to give a clear answer. In response, Armstrong has made Coinbase's mission clear: it's not political. He has given severance packages to employees who disagree.
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More likely they meant "white" as the left-wing redefinition of "not African-American",
What scares me is that you probably believe that is the definition that the 'left-wing' use. It's not.
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Not just one person, this is a mainstream position:
I am left-of-center, and I've never heard of it. It isn't mainstream except in your head via your warped interpretations.
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Slashdot is a tech site and gets n@zi spam posted on every single story, with GNAA spam only slightly less frequent.
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Slashdot is a tech site and gets n@zi spam posted on every single story, with GNAA spam only slightly less frequent.
Which is instantly mod'ed to oblivion (I use a lot of mod points that way). Its one person with a script. Its not a sign of a significant part of US society. Hell even the Boogaloo Boys try to been seen to be welcoming to black members these days. People get their lulz lots of different ways that I don't understand either.
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I was just responding to the statement that radicalskeptic had never met a racist or bigot in tech. Seems unlikely. Maybe they never browsed at -1.
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And as if to prove the point trolls are out with mod points trying to silence anyone who doesn't dismiss the claims in this thread.
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My posts have been bouncing around all over the place down to -1 up to 3 back down to 0. Clearly some people want to censor me.
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You're very naive and looking at the wrong things.
Racism and bigotry is rarely overt. People don't intentionally say racist things anymore. Very few people think they are racist.
The problem is racism isn't about individual beliefs. It's about actions. No one cares what warm and fuzzy feelings you hold in your heart for people of all colors. If your actions have a disproportionate impact alo
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I am not trying to insult you but one common explanation for 'don't know any racists' is that you are the racist.
Another is that you are not aware of the racism, as it is subtle. People are no longer stupid enough to say things like "I can't promote you, you are a woman." Many people do not see the bigotry in say, thinking that a woman getting pregnant is bad for the company.
I may be male, but I have see many people in tech be prejudiced against women. This is extremely common, but hard to prove bec
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The simple question is, what percent of tech people are white and male. Anything more than 50% is prima facia evidence of bigotry
How exactly is this evidence of bigotry?
At any tech company, more than 50% of those applying for technical positions are white and male. You cannot hire someone who doesn't even apply.
Tech is dominated by white and asian males, because white and asian males are the ones who are most likely to be interested in technology from a young age and go on to study the field. If you didn't have an interest in tech as a child, didn't study technical subjects, what makes you think you should have a tech job now?
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First, I allowed asians to be considered part of the 50%. Second, you are using a cheat in your argument.
A presupposition to your claim is that women and non-white are not interested in tech from a young age and do not want to study the field.
Instead I have found that people discourage girls and people of color (besides asians) that ARE interested in tech as children. Then when thy do study they experience more prejudice and when they apply they experience even more prejudice.
Basically you are saying th
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And if they are discouraged from the field at a young age then this is where the problem is, not the hiring practices of companies several stages removed.
It is true that some groups are discouraged from tech fields more than others, and this largely happens among their peers. The bullying of girls considered geeky is not perpetrated by white males, it is perpetrated by other girls, and exactly the same thing happens in other groups. It happens among white males too, just to a lesser extent.
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Basically you are saying that "X people do not want to get good jobs." It is a lie.
Everyone wants a good job, but not everyone is equally capable of doing the job, nor willing to put in the same effort to get the job.
Speaking about technology specifically, those people who are generally the most capable are those who spent their childhoods in their bedroom writing code on a C64 and taking electronics apart. This people consider technology their hobby and have always spent a majority of their free time learning and experimenting with it. As a result, their knowledge and experience is very
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Personally I have never met anyone in tech who I would describe as racist or bigoted.
Sure, but your bar for you describing someone as sexist or bigoted is so high it's almost impossible to clear, so that's a pretty information-free claim.
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Because they're all racist, cisgendered transphobes
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A business is not a single individual. Even individuals have internal conflicts and change their minds frequently. A business is made up of many different people with different goals, ideal and motivations, only a few of which actually align across most of the business.
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The solution to maybe being racist is to be very definitely racist and this is modded insightful?