TLDR:
- VC Leslie Feinzaig believes in meritocracy and invests in underrepresented entrepreneurs.
- She emphasizes the importance of striving for a meritocratic system free of bias.
An underrepresented venture fund CEO, Leslie Feinzaig, discusses the intersection of meritocracy and diversity in the tech industry. She highlights that true meritocracy is free of bias and advocates for equality of opportunity for all. Feinzaig challenges the notion that equity and meritocracy are in opposition, emphasizing that the opposite of meritocracy is nepotism, not equity. As a female, Latina, and immigrant leading her own VC fund, Feinzaig shares her experiences of being told she both succeeded and faced challenges due to her identity markers.
Feinzaig argues that underrepresented individuals often walk around with a chip on their shoulder due to erasure of their accomplishments based on their identities. She stresses the need for a meritocratic system that is free of bias and acknowledges the barriers faced by underrepresented founders. Drawing on disruptive theory, she views underrepresented founders as having outsized disruptive potential due to being unseen in mainstream markets.
Feinzaig acknowledges the challenges of data-driven decision-making in promoting diversity and inclusion, as biases can still affect outcomes. She emphasizes the importance of recognizing the untapped potential of underrepresented founders and the power of a chip on the shoulder as a motivating factor for success. Overall, Feinzaig’s insights shed light on the complexities of meritocracy, bias, and diversity in the entrepreneurial landscape.
