Author Topic: Newsom Signs Bill Mandating Diversity Reporting In Venture Capital, Vetoes Similar Bill Aimed At His  (Read 799 times)

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Offline rangerrebew

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Newsom Signs Bill Mandating Diversity Reporting In Venture Capital, Vetoes Similar Bill Aimed At His Office
Story by Robert Schmad  •
18h


Democratic California Gov. Gavin Newsom vetoed a bill on Oct. 8 requiring the governor’s office to report the ethnic breakdown of its appointees the same day he signed a bill requiring that venture capital firms report the racial and sexual diversity of companies they invest in, according to statements released by the governor.

Newsom said that California Senate Bill 54, which requires venture capitalists to produce annual diversity reports, “resonates deeply with my commitment to advance equity and provide for greater economic empowerment of historically underrepresented communities.” Newsom was less warm toward diversity reporting for his own office as proposed in Senate Bill 702, saying in his veto statement that self-reporting was sufficient for demographic information for the governor’s appointees.

The National Venture Capital Association (NVCA) in a letter to state Sen. Nancy Skinner, the author of Senate Bill 54, says that it already conducts its own diversity surveys on the venture capital industry.

Under SB 54, venture capital firms will be required to report the gender identity, race, ethnicity and “LGBTQ+” identity of each member of the founding team of start-ups they invest in, according to the bill’s text.

https://www.msn.com/en-us/news/politics/newsom-signs-bill-mandating-diversity-reporting-in-venture-capital-vetoes-similar-bill-aimed-at-his-office/ar-AA1iY3Hc?ocid=msedgntp&cvid=aa27eb11c2ee440cab9bed92b1086011&ei=40
The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg.
Thomas Jefferson

Offline Smokin Joe

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Anyone else recall when a 'diversified portfolio' meant something different?

Since when does the Governor's office NOT have to follow the same rules everyone else does?

This "ruling class" bullshit needs to stop. America was not founded on two tiered justice.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis