Column: How Corporate America Can Go Beyond Lip Service and Help Foster Change
Since the widespread protests against police brutality in the wake of the murder of George Floyd, Breonna Taylor, Rayshard Brooks, and countless others — large-scale public conversations have followed. Many companies have shared statements expressing their condolences to and solidarity with their Black employees and customers, and outlining their commitment to fighting racism.
Many of these statements have been welcome, with leaders sharing heartfelt personal sentiments that have hit the right notes, while others have been less well-received, with critics pointing out their uniformity and arbitrary tone.
Eyana Carballo is the manager of global commercial strategy & IP at BCG Digital Ventures.
But no matter how strong or wanting these statements have been, they mean very little without a concrete commitment to tangible steps that companies can enact. Now that the words have been shared, it's time for companies and leaders to walk the talk.
So, what can companies do?
Expand Diversity Networks
Enabling employees to work to bolster internal networks is an integral part of making sure their voices are heard. These networks can drive real change, helping to raise issues and set priorities and, in turn, to be heard by leadership. They can be vessels for mutual support, mentorship, and representation.
Invest and Donate
One obvious way companies can take action that backs up their words is by contributing financially. Consistent donations to causes such as the NAACP Legal Defense and Education Fund or the Southern Poverty Law Center are valuable, giving them the resources they need to affect positive change. But companies can also invest other resources, such as talent; partnerships with leading organizations that address racial injustice and inequality are extremely valuable for all parties.
Apply Metrics and Foster Accountability
Without a clear view of what's happening, it's difficult for companies to affect positive change or even decide on what that change might look like. Honing in on the current status quo and what 'good' would look like, in terms of internal diversity but also the external impact of work, enables companies to move in a positive direction and assess success, bolstering accountability in the process.
One aspect of this is a commitment to accelerating representation, which encompasses driving retention parity, increasing representation in leadership and educating leaders and staff. Metrics, whether internal and external, can be the levers which drive this and ensure tangible and lasting impact.
Each company will have its own set of circumstances, its own state of play, and different work that needs to be done. But now that these issues have been raised, we need to make sure that they do everything they can, starting with the initiatives above, to really support Black employees and the wider Black community, moving beyond spoken sentiments to actively making the world a more equitable place.
Eyana Carballo is the manager of global commercial strategy & IP at BCG Digital Ventures, the corporate venture arm of Boston Consulting Group.
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California is the world's largest legal pot market, generating nearly $3.1 billion in spending in the Golden State alone. But cannabis-related businesses in the U.S. live in a legal-limbo, operating in this strange gray area between federal laws that make marijuana illegal and states that have decriminalized its use and sale entirely. This has led to sometimes difficult choices, workarounds and issues with which the cannabis and cannabis-linked companies are forced to contend.
dot.LA dove into this tenuous landscape during a virtual panel discussion on Tuesday with experts in cannabis compliance and legal issues, asking them: Is the green rush over? The consensus seemed to be that no, it isn't, but this first wave of "reckless money," likely is.
Tuesday's conversation on the current state and future of California's marijuana marketplace capped off the conclusion of dot.LA's five-part investigative series examining the rapid rise and rapid fall of L.A.-based Genius Fund, a one-time $164 million cannabis company. Today that money is gone and their Russian oligarch investor is dead.
Hilary Bricken, Partner of Harris Bricken
Hilary Bricken, Partner of Harris Bricken<p>Since joining Harris Bricken in 2010, Hilary has earned a reputation as an exceptional and fearless business law attorney. Hilary's clients—start-ups, entrepreneurs, and companies in all stages of development—value her bold approach to business strategy. Hilary also appears before city councils and community forums, where she advocates tirelessly for her clients.</p><p>In 2017, the American Bar Association (ABA) named Hilary one of the <a href="https://www.americanbar.org/news/abanews/aba-news-archives/2017/07/aba_young_lawyersdi/" target="_blank">top 40 young lawyers</a> nationwide and before that <a href="http://www.bizjournals.com/seattle/news/2013/12/14/newsmakers-of-2013-deal-makers.html" target="_blank">The Puget Sound Business Journal</a> named her as one of only seven deal makers of the year. She was by far the youngest and the only private practice attorney to garner this honor. Hilary was also named one of "<a href="http://www.bizjournals.com/seattle/print-edition/2015/09/11/2015-40-under-40-hilary-bricken.html" target="_blank">40 Under 40</a>" leading businesspeople by the PS Business Journal. In every year since 2014, Hilary has been chosen as a "Rising Star" lawyer by Super Lawyer's magazine.</p><p>Major media outlets like the New York Times, VICE, the Los Angeles Times, Chicago Tribune, Business Insider, CNN, Rolling Stone, Forbes, MSNBC, and Bloomberg all have turned to Hilary for her on-the-ground perspective on cannabis laws. Hilary's <a href="https://www.youtube.com/watch?v=0M4Fse1Ioaw" target="_blank">Tedx talk</a> on "big cannabis" (see below) has garnered more than 50,000 views and she also authors a weekly column for <a href="https://abovethelaw.com/tag/hilary-bricken/" target="_blank">Above the Law </a>on marijuana policy and regulation.</p>
Tanya Hoke, Managing Director of Galen Diligence
Tanya Hoke, Managing Director of Galen Diligence<p>Tanya has more than a dozen years of experience managing investigative due diligence for clients in industries ranging from pharmaceuticals and manufacturing to financial services and consulting. She has been advising investors in the cannabis industry since 2015, and focuses on issues relating to fraud, money-laundering, compliance, and corporate governance. Tanya is a Certified Fraud Examiner, a Certified Anti-Money Laundering Specialist, and a licensed private investigator. She has served on the National Cannabis Industry Association's Banking & Financial Services Committee and the State Regulations Committee. Tanya received a Bachelor of Arts degree from Swarthmore College and a Master of International Business degree from the Fletcher School at Tufts University, where she serves on the MIB Alumni Advisory Board.</p>
Brad Rowe, Director of Compliance, Operations and Regulations Analyst of Rowe Policy Media
Brad Rowe, Director of Compliance, Operations and Regulations Analyst of Rowe Policy Media<p>Brad has designed, implemented and delivered a dozen public policy research projects over the last six years through his time running BOTEC Analysis, at UCLA and with Avenu/MuniServices Cannabis Compliance and Support Services and Rowe Policy + Media. Brad is Lecturer of Public Policy at UCLA Luskin School of Public Affairs and recently started teaching Cannabis Policy and Society, the first of its kind in the country. </p><p>He serves as Advisor to the UCLA Cannabis Research Initiative, coordinating the Criminal and JuvenileJustice Research team and the California Cannabis Data Collection Project. He sat on the CommunityAdvisory Committee for the Los Angeles County Department of Health's impact assessment on cannabis. </p><p>In 2020 Brad has taken on the cannabis "dosing problem". To help naive and legacy consumers dose new cannabis products predictably and reliably. The HowHi App Data Project provides evidence based insights into the Quality, Duration and Amplitude of the cannabis experience. The variables are crowd-sourced via experiential self-reports on iOS and Android interfaces. </p>
Andrew Freedman, Senior Vice President at Forbes Tate Partners
Andrew Freedman, Senior Vice President at Forbes Tate Partners<p>Andrew brings vast experience from his three years as the State of Colorado's first Director of Cannabis Coordination. During this time, he developed distinctive experience effectively implementing voter-mandated legalized adult-use and medical cannabis while protecting public health, maintaining public safety, and keeping cannabis out of the hands of children.<br><br>Andrew's role in developing a successful operating model for cannabis regulation and stakeholder collaboration was identified as one of the reasons for the State of Colorado's success in implementing adult-use cannabis legalization by the Brookings Institution. Governor Hickenlooper has gone so far as to praise Andrew's work while on national television, stating, "Andrew Freedman, who came in and helped us once it was passed . . . [has] done a remarkable job of creating a regulatory framework."<br><br>Andrew has received national recognition for his leadership. Men's Health Magazine named him one of the 30 most influential health influencers of the last 30 years. He was recognized as one of Fast Company's "100 Most Creative People in Business" in 2016. He has been featured on 60 Minutes, NBC Nightly News, The Today Show, The New York Times, The Washington Post, The Wall Street Journal, The Boston Globe, Governing Magazine, and dozens of local stories throughout the nation and internationally.</p>
Tami Abdollah, Senior Reporter at dot.LA
Tami Abdollah, Senior Reporter at dot.LA<p>Tami Abdollah is dot.LA's senior technology reporter. She was previously a national security and cybersecurity reporter for The Associated Press in Washington, D.C. She's been a reporter for the AP in Los Angeles, the Los Angeles Times and for L.A.'s NPR affiliate KPCC. Abdollah spent nearly a year in Iraq as a U.S. government contractor. A native Angeleno, she's traveled the world on $5 a day, taught trad climbing safety classes and is an avid mountaineer.</p>
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