June 7, 2022: Managing Director's Remarks to Lakeshore Ethnic Diversity Alliance [Abridged]
Thank you, Lakeshore Ethnic Diversity Alliance for creating an inclusive community for all.
I understand this session is a first in your history: A topic on economic racial equity that I am glad to deliver because one of the four ways to achieve racial equity for people of color aside from education, homeownership and public policy----entrepreneurship is one of the four ways to realize racial equity.
Unfortunately, either because entrepreneurship can be too liberating for marginalized communities, or some in society have negative views of profit, capitalism or business----entrepreneurship sometimes is overlooked.
I appreciate LEDA for the invitation to speak about economic racial inequity, and more importantly, the solution that Rende Progress Capital brings as a new entity to the local market in only our fourth year.
Let us begin with my usual candor and directness on issues of finance and race---in this case my three beliefs that are the foundation of my business work, being a conscious capitalist and starting Rende Progress Capital:
First, capitalism has been the most successful economic system the world has ever seen, and it has put people on the path to security, wealth, and health.
Second: However, capitalism has had---and still has---shameful flaws. Namely, it was birthed, developed, and flourished in America because of chattel slavery and before slavery---the exploitation of First Americans or Indigenous Americans otherwise known as Native Americans.
Third: Despite this reality---my late grandfather who created some of his own jobs, along with my mo