Friday's Too Good To Not Share: July 10, 2020
Every Friday, I share other great content (with some added context) to dive into over the weekend.
Frameworks for Using Diversity to Win
Need to make the case for diversity in your professional life?
Iman Abuzeid MD is here to help. Some data and facts to take with you about diversity:
“Companies with more diverse management teams have 19% higher revenues due to innovation, and 9% higher EBIT margins, detailed in this BCG study.
McKinsey reports detail that companies in the top-quartile for gender diversity on executive teams were 21% more likely to outperform on profitability. Companies in the top-quartile for ethnic / cultural diversity on executive teams were 33% more likely to have industry-leading profitability. There’s also a huge penalty for opting out of diversity: companies in the bottom quartile for both gender and ethnic / cultural diversity were 29% less likely to achieve above-average profitability.
Harvard Business Review highlights that diverse teams make decisions 2X faster, with half the number of meetings, primarily because they are more prone to re-examine facts and keep discussions objective. Their decisions deliver 60% better results because they focus more on facts.
This study by the Kauffman Fellows dismantles the “pipeline” excuse: while diverse STEM graduate numbers continue to rise, that’s not translating to more employment in tech. In addition, using Crunchbase data the report describes white founding teams and white executive teams raising venture capital more often. However, when diverse founding teams do successfully raise, they tend to raise 60% more than white founding teams, particularly in late-stage rounds.
Diverse founding teams have higher returns when cash is returned to investors, detailed by this Kauffman Fellows report. Historically, diverse founding teams earned a 3.26X median realized multiple on IPOs and acquisitions, compared to a 2.50X realized multiple for white founding teams: a 30% increase. Ethnically diverse startup founding teams provide higher returns to investors.”
That’s just the data. Lots more to digest in the full article.
How Overnight Shipping Works
I’m fascinated with logistics. In a world where so many things can go wrong, how is it that companies like UPS, DHL, and FedEx are able to consistently get a package from Scotland to Alaska overnight?
They do it with planes. Lots of them. FedEx has more planes than Emirates, Etihad, and Qatar Airways combined. DHL delivers to every country in the world including North Korea and UPS flies to more than double the destinations as the largest passenger airline. Pretty impressive stuff, right?
Watch the whole video here to see how the process works in full.
Snoh Aalegra is Back with New Music!
You know the vibes.
Snoh’s new track “Dying 4 Your Love” just came out today and she did it again. Her music feels like clear skies and a calm ocean breeze.
Visuals (premieres at 9 am EST)
Want more Snoh? Vibe out to her Tiny Desk Concert.
Other music to check out this weekend: