Ask HN: Friends and Family? With Money?

9 points

6 years ago

Being a minority founder who grew up in a low-income neighborhood, asking "friends and family" for money was not an option. When everyone I knew is just barely getting by, asking them for money is fruitless.

It makes sense after looking at some founder stats. 77% white, many went to Ivy Leagues and come from higher-income families. (Source: https://news.crunchbase.com/news/untapped-opportunity-minority-founders-still-being-overlooked/).

Is that the way of the world, or should there be more effort into supporting founders without "friends or family" that can kickstart their ventures? Does anyone have any literature on this topic they can point me to?

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