Goldman Sachs Refusing IPO's if directors are all white men

https://www.bloomberg.com/news/arti...ds-to-death-knell-of-the-all-white-male-board
Saw this article and thought it was interesting. Just wondering thoughts on how effective yall think this will be, etc?

 

Baby steps sometimes can turn into something big. Good for Goldman Sachs.

 

Exactly. It would have been nice if they could have specifically said there must be people of color on the board, or a certain percentage or something, but its a babystep in the right direction

 

Its only good if they all succeed otherwise it'll be used as an excuse unfortunately

 

So they'll put a token on the board, then marginalize that person. Once the IPO goes through, oops, we're going in another direction.

 

This reminds me of the Rooney Rule in the NFL (teams have to interview at least one minority candidate for each head coaching vacancy). It comes from a very good place but is laughably easy to circumvent/abuse.

Still it's a good baby step, as others have stated here. Just because we don't have perfect solutions doesn't mean we shouldn't try SOMETHING. We can't let a flawed new system overshadow the fact that the initial system was (and is) even worse.

And Goldman has the clout to keep their launched companies in line a little. So hopefully they'll use that influence properly.

 

Everyone accepts this logic except for when it pertains to politics. In that case it's always all or nothing.

LOL

 

Amen lol

 

I agree, its probably not going to be that effectual in practice. Would like to see some more extreme tactics. Reparations have been catching on lately, but I think a straight up transfer of wealth and power is an even bolder step