<story><title>I’m Not “Black Enough” for Inc. Magazine</title><url>https://facesoffounders.org/im-not-black-enough-for-inc-magazine-337569d54a6b</url></story><parent_chain></parent_chain><comment><author>uncletaco</author><text>There&amp;#x27;s something that always bothers me when someone sees a statistic that says &amp;quot;Among racial and ethnic groups, African Americans had the highest poverty rate, 27.4 percent, followed by Hispanics at 26.6 percent and whites at 9.9 percent.&amp;quot; and flips it to say &amp;quot;almost 75% of blacks are not poor!&amp;quot;&lt;p&gt;Yes, that&amp;#x27;s true, but if I were to go further and look at the source he cited&amp;#x27;s fact sheet on African Americans then I&amp;#x27;d see some interesting factoids about wealth. For instance:&lt;p&gt;&amp;gt; In 2010, the median wealth, or net worth, for black families was $4,900, compared to median wealth for whites of $97,000.&lt;p&gt;&amp;gt; Blacks are nearly twice as likely as whites to have zero or negative net worth—33.9 percent compared to 18.6 percent.&lt;p&gt;So yes, we can say &amp;quot;nearly 75% of Blacks are not poor&amp;quot; but that doesn&amp;#x27;t really work as a jumping off point for any argument about black wealth, at least in my opinion.&lt;p&gt;It looks to me like this guy has taken his suburban upper class experience (he called his living situation &amp;quot;Huxtable-esque&amp;quot;) and assumed that all black people who are living above the poverty line are somehow doing just as well as he is. Therefore the media is going out of its way to find the &amp;quot;archetypal&amp;quot; black entrepreneur who comes from that ~25% of blacks who grew up in poverty. I don&amp;#x27;t really buy that argument, especially because being above the poverty line doesn&amp;#x27;t really speak to matters of wealth, class, and social mobility.&lt;p&gt;I&amp;#x27;m not saying any of this to diminish his success, I&amp;#x27;m happy he&amp;#x27;s made it, but I think he&amp;#x27;s failed to recognize his (sadly) exceptional situation that doesn&amp;#x27;t really speak for the rest of the 75%.&lt;p&gt;EDIT: cleaned up some grammar.</text></comment>
<story><title>I’m Not “Black Enough” for Inc. Magazine</title><url>https://facesoffounders.org/im-not-black-enough-for-inc-magazine-337569d54a6b</url></story><parent_chain></parent_chain><comment><author>throwaway_45</author><text>67% of black kids have a single parent so if you randomly picked a black person they would likely have been raised by a single parent home. He states that he came from a dual parent household from the suburbs. So he isn&amp;#x27;t an average black person just from statistical point of view. He got really lucky. I think if you give black kids two parents some money and a good school they would probably do as well as everyone else.</text></comment>