Diversity is not a “distraction”
  March 14, 2023 Hello again, Meteor readers, How’ve things been since last we spoke? Has all been quiet on your western front? Or have you been caught in a triangle of sadness? Hopefully the weekend wasn’t too much trouble for you. But if it was, I’m sure you’ll find the way (of water) forward. Oh, by the way: The Oscars happened.  In today’s newsletter, we look at the Silicon Valley Bank collapse and how, according to one op-ed author, it’s all women’s fault. Plus, an original film with a relatively low budget takes home every award everywhere all at once. But first: let’s start the news. Still trying to find a pun for “The Banshees of Inisherin,” Bailey Wayne Hundl  WHAT’S GOING ONDistracted by diversity??: The Silicon Valley Bank (SVB) collapsed on Friday, making it the second-largest bank failure in US history behind Washington Mutual in 2008. The bank announced Wednesday they had sold securities at a $1.8 billion loss, triggering a market panic that dropped SVB’s value by over $160 billion in 24 hours. By Friday morning, regulators had shut the bank down and placed it in receivership under the FDIC. As one of the many companies that had funds at SVB, we have a lot of questions. But you know what we’re not asking? “Hey SVB—why did you hire so many women?!” The author of a Wall Street Journal op-ed published Sunday posited the idea that, since the bank’s board consisted of 45% women—as well as “1 Black” and “1 LGBTQ+” (wow, all five identities in one person??)—the bank might have fallen because its leadership was “distracted by diversity demands.” Um, what? First of all, a board of directors that’s 91% white and 91% straight does not seem to be “distracted” by anything but conducting business as usual. And second: The idea that diversity is distracting isn’t just offensive; it’s also incorrect. In fact, diversity has proven to be better for a company’s bottom line, better for retention, better for diversity programs themselves (and their implementation). So maybe let’s not try to blame every failure on the involvement of anyone who’s not a cishet white man. AND:
 A 🍕 OF HISTORYWomen Are Powerful and Dangerous—and Don’t You Forget ItIt’s Women’s History Month. And every week, a Meteor collective member recounts a piece of women’s history that resonates with them. Today’s slice: Audre Lorde.  PHOTO BY ROBERT ALEXANDER/ARCHIVE PHOTOS/GETTY IMAGES This famous picture of writer Audre Lorde was taken in 1983 while she was lecturing students as an artist-in-residence at the Atlantic Center for the Arts in Florida. That same year, she spoke at the 20th anniversary of the March on Washington. It was a historic moment: Some organizers worried that because she was a lesbian, her inclusion would ruffle too many feathers. But she spoke anyway and famously said, “We know that when we join hands across the table of our difference, our diversity gives us great power. When we can arm ourselves with the strength and vision from all of our diverse communities, then we will in truth all be free at last.” – Samhita Mukhopadhyay  FOLLOW THE METEOR    Thank you for reading The Meteor! Got this from a friend? Sign up for your own copy, sent Tuesdays and Thursdays.
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