Fearless Fund CEO Arian Simone on why she sees legal settlement as a win and what's next
CBSN
The Fearless Fund, a venture capital firm that invests in supporting women of color entrepreneurs, has agreed to shut down its grant program for Black women as part of a settlement with the conservative group American Alliance for Equal Rights. On Wednesday, both sides reached a settlement, agreeing to dismiss the case and end the program. This comes after a federal appeals court ruling in June ordered the program to be suspended.
The program, called the Strivers Grant Contest, awarded $20,000 to Black women-owned businesses, but the lawsuit claimed it was discriminatory. The conservative group claimed the program was in violation of the Civil Rights Act because it was only open to Black women.
According to the Fearless Fund, less than half a percent of venture capital funding goes to businesses led by women of color.
Hurricane Francine in Louisiana, flooding in the Carolinas and wildfires in California are among the extreme weather events impacting millions across the U.S. just in the past week. And it's not just about the physical risks — it's having a major impact on the affordability of having a home, as extreme weather continues to feed into the rising costs of home insurance.
The arrival of pumpkin spice lattes and cooler temperatures may mean fall is on its way, but nothing quite kicks off the season like when the leaves change into those vibrant hues of yellow, orange and red. The cascade of colors that erupts each September and October signal that change is on its way.
Several towns in southeastern North Carolina saw historic rainfall Monday as a potential tropical cyclone ripped through the area. Precipitation in Carolina Beach, along the coast near Wilmington, set an especially striking record. According to the National Weather Service, 18 inches of rain fell over Ocean Boulevard over the course of 12 hours — something that only happens "once every 1,000 years," meteorologists said.