The Founders' List: Iman Abuzeid on Frameworks for Using Diversity to Win (Hiring Series)
In this episode, Kristen O'Brien and Iman Abuzeid explore diversity in the tech industry, discussing its benefits such as profitability, decision-making, and innovation. They delve into building diverse teams, funding for women and people of color, and the approaches notable investors take towards diverse investing. They also discuss implementing a data-driven approach to diversity, concluding with thoughts on diversity in tech and venture capital.
Key Points
- Diverse teams not only reflect a commitment to equality but are also a data-driven strategy for achieving stronger performance and higher profitability in companies.
- Implementing a diversity-focused hiring framework early on helps companies avoid accumulating diversity debt and positions them to attract top talent and better reflect their customer base.
- Investors can enhance their returns and drive positive change by prioritizing diversity, leveraging expansive networks, and countering biases in their diligence processes to support and fund a more diverse range of founders.
This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.
The data is clear – diverse teams win. Companies with more diverse management teams have 19% higher revenues due to innovation, and 9% higher EBIT margins. Iman Abuzeid MD (CEO & Cofounder of Incredible Health) has gone through the full diligence process of the best of the best Series A funds in Silicon Valley and shares her findings in this essay.
"We are coming to terms with what we have or have not done right in tech in relation to diversity. Data is one way Silicon Valley has won this far, and it’s the way we can keep winning. The data is clear – diverse teams win."
Read the essay here - https://www.nfx.com/post/frameworks-using-diversity-to-win/
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Transcript
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