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VCs and fulltime angels bring a lot more than just money to the communities they invest in. You can get just about any wealthy person to part with some small portion of their wealth to put into risky investments, but these people don't contribute back to the ecosystem. On top of that, they tend to be the locus of innovation networks.
Anyone can build a coworkingspace, but it''s a lot harder to attract and curate a set of folks that makes me want to move into that space. She started out by simply taking a space and filling it with the kind of people that inspired her. Yet, it''s not so easy to just "insert a Tina" into "local community x".
Imagine what the diversity of ownership and in the workforce would look like if people with the means to invest would care as much about social and human return on investment as they do about potential profit. To date, less than 1% of founders who are venture backed are Black; and women founders receive just 9% of investment capital.
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