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🗞️Diversity and inclusion news🗞️ |
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🇬🇧 It's happening in the UK 🇬🇧
So we've often and somewhat naively been asked if what is happening in the USA is impacting us at Colorintech here in the UK.
YES Is the answer and in multiple ways, But we'll offer an example from this week's news
We'll take the Bank of England (Probably the most British of british institutions (the thing literally holds and regulates the British pound) 😅
The Bank of England's Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have decided to scrap proposed diversity and inclusion (D&I) rules for financial firms. Citing concerns over "regulatory burdens," these watchdogs have opted to maintain the current landscape, where underrepresentation continues to thrive The Guardian reports🤔
Now the context is the UK chancellor desperate for growth an low on ideas asked a bunch of regulators what they could do to help, and unsurprisingly they said less regulation. Interestingly the stuff that seemingly is superfluous is the things that impact marginalised and underrepresented folks.🙄
This comes off the back of a March 2024 report found that “not much” had changed in the since an enquiry into gender inequality in financial services, after a spate of sexual harassment allegations. Unduspriginly it turns out ,any of the firms who responded to a consultation on the measures wanted the regulator to align its "regulatory approach with related initiatives, to avoid duplication and unnecessary costs" (Potentially a fair ask, but one with consequences) The now-abandoned proposals aimed to:
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🥇Set Binding Targets: Establish firm goals for gender and ethnic diversity within companies.
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💰Link Pay to Diversity Goals: Tie executive compensation to the achievement of D&I objectives.
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📊Enhance Reporting: Increase transparency through more rigorous reporting of diversity metrics.
So where is the Link to the USA? Well quite simply, it's easy for DEI to be the perceived as the "regulatory" burden rather than an enabler of progress. Seen as a cost without benefit, the discourse has been set
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💰Impact X💰
Congrats to the team at Impact X who have closed an new set of funding for their next fund (although curiously they didn't say how big it was which is odd in a "mines bigger than yours world of VC)😅
he fund has secured backing from Illumen Capital, a BIPOC-led investment firm based in Oakland, California, and Basecamp Fund, the fund of funds investing in emerging managers, from London’s Phoenix Court.
Both capital allocators join previously announced tier 1 Impact X limited partners including Guy’s & St Thomas Foundation, the Visa Foundation, and Atomico the voice reports💸
Well done to the team!
You can read more here |
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🧠Things that make you go hmmm🧠 |
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🎮If you don't like it dont do it🕹
Straight out of, the “Not My Problem” school of leadership. In a stunning display of corporate candor, Roblox CEO Dave Baszucki has basically told parents worried about their kids' safety on the platform to just keep them off it. (BBC😅)
We suppose appreciate the honesty of it all afterall, for years, parents have raised alarms over inappropriate content, sketchy interactions, and just generally the wild west of user-generated gaming. But rather than doubling down on safety measures, Baszucki has opted for a more… hands-off approach. "If you're worried, don't use it." You know, the same advice we give for hot stoves and questionable seafood.😅
💡So What?
This bold (read: shrug emoji) approach to content moderation tells us two things:
- Big tech still doesn’t want to be a babysitter – Despite raking in billions, platforms across the board are still playing the "we just provide the tools" card.😵
- The onus is, once again, on parents – Because of course it is.🤰🏽
So what:?
For the Colorintech crowd, this is just another reminder that if tech companies won’t regulate themselves, then who will? Well just like that check our our next article Spoiler: Probably not the people profiting from it.
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😲Do you feel safe yet😲
As of this week, the UK's Online Safety Act has come into force, granting Ofcom, the communications regulator, robust authority to oversee and enforce online safety measures. This legislation aims to hold tech companies accountable for the content on their platforms, especially concerning illegal and harmful material. 🧑🏾⚖️
🚨 Key Provisions of the Act
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Mandatory Content Removal: Social media platforms are now required to proactively identify and eliminate content related to child sexual exploitation, terrorism, hate crimes, and material encouraging or assisting suicide. The Independent
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Advanced Detection Tools: Companies must implement sophisticated technologies, such as automated hash-matching and robust moderation systems, to detect and remove illegal content effectively. Reuters
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Enforcement and Penalties: Ofcom now possesses the authority to impose substantial fines on non-compliant platforms, reaching up to £18 million or 10% of a company's global revenue, whichever is higher. In severe cases, Ofcom can even block access to offending services within the UK. Financial Times
💡 Implications for Tech Companies
This legislation signifies a pivotal shift in the regulatory landscape, compelling tech companies to prioritize user safety and content moderation. Platforms must now reassess and enhance their policies and technologies to align with the stringent requirements of the Online Safety Act. Failure to do so not only risks big financial penalties but also potential operational restrictions within the UK market.🙅🏽♂️
Its not all groovy though, Critics argue that vague definitions of "harmful content" could lead to over-policing of speech, with platforms erring on the side of censorship to avoid hefty fines. There’s also the practical challenge—does Ofcom have the technical expertise and resources to monitor and enforce these rules effectively against global tech giants?🧑🏾⚖️
And then there is the Geopolitics. Is a UK regulator really going to risk Tariff induced reciprocation from the USA if it picks a fight domestic audiences may want but international social media platforms may not🤔
So what:?
Who decides what’s “harmful”? Will this actually make users safer? And are we sleepwalking into a future where online speech is dictated by vague rules and corporate fear of regulatory fines? It could be weaponized in the future so one to consider |
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📷When the Going Gets Tough, the Partners Get Going 📷
🏦 PwC's Partner Exodus:
PwC's UK division has bid adieu to 123 partners in 2024, more than doubling its average annual departures since 2002. December alone saw 74 partners exit stage left, a dramatic spike from the usual dozen.
🛑 Apprenticeships on Pause: The 'Flying Start' That Didn't Quite Take Off
Adding to the drama, PwC has hit the brakes on its "Flying Start" technology apprenticeship program, operational since 2018. This initiative allowed apprentices to gain work experience alongside a PwC-funded degree. However, of the 91 apprentices graduating this year, 27 won't receive job offers, leaving some to ponder missed opportunities elsewhere😭
These moves aren't just corporate reshuffling; they appear to be strategic plays to safeguard the firm's annual profit pool, averaging close to £1 million per partner. With a post-pandemic slowdown in consulting demand, PwC is tightening its belt to maintain those hefty payouts. Given the apprenticeship cost to businesses it looks to represent a slow down in demand rather than cost cutting 💸
💡 So What?
For the Colorintech community, this saga underscores the volatility in traditional career paths within major firms. As the industry grapples with economic shifts and technological advancements, adaptability and continuous skill development become paramount. It's a clarion call to diversify one's skill set and remain agile in an ever-evolving job market. |
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📈 The tools behind the tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Partner Events & Opportunties 🌐 |
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🙏🏾We want to hear from you🙏🏾
Share your Stories, Achievements, and Strategies towards Accelerating Action
For International Women’s Month 2025, we’re collecting the stories, achievements, and strategies for accelerating action from the fantastic women in the Colorintech community (and beyond)!
We want to use this to create a resource full of inspiration, actions and strategies, so no matter what stage you’re at in your career, you can be supported in achieving your personal and professional goals!
This will be launched at our IWD event… soon to be announced.
If you’d like to contribute and share your achievements, strategies for success, actions, aims and advice, then be part of our International Women’s Day Activities and complete the form below:
https://form.typeform.com/to/YunUQfg7
The form will close in a couple of weeks
Let’s inspire and empower each other to accelerate action in all of our lives!
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🎓A free PHD🎓
Unlock a career in Data Visualization via a fully funded PhD with DIVERSE CDT
Gain in-demand skill & cross-sector experience with a diverse cohort
UK students: receive £23,158/year tax-free.
Apply here | info@diverse-cdt.ac.uk
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🙌🏾Advancing as a leader🙌🏾
New Webinar sharing advice and tools for advancing in your career
On March 20th, Colorintech and Journi are teaming up to host a fantastic webinar on advancing in your career!
As an underrepresented leader, it’s essential to build not just your skills, but the strategies to navigate a system that isn’t always built for you. This webinar will provide practical advice, strategies, and insights on how to thrive, break down barriers, and champion diversity within organisations.
Hear from our amazing speakers:
Athena Witter - CEO and Founder at Engine Pop, and former VP Digital, Content and Programming, BBC Studios
Rioh Burke-Derby – Strategy & Operations Director at Avanade
Sharla-Jaye Duncan – CEO at Journi
MC: Catherine Park - Community and Events Lead at Colorintech
What You’ll Take Away:
Thriving as a Minority in Tech: Insights on mentorship, sponsorship, and upskilling to accelerate your career.
Creating & Seizing Opportunities: Learn from leaders who’ve built their own paths and lifted others along the way.
Driving Change in Tech: Practical strategies to champion diversity and make an impact within your organization.
Key Details Below:
Date: 20th March 2025
Time: 12:30 - 2:00 BST
Location: Zoom
Sign Up Link: https://lu.ma/zrff9vt
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🙌🏾Depop🙌🏾
Take a look below and -
click source or flag that you heard it about from Colorintech to help make sure you application gets a thorough look😉
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Machine Learning
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Technical CRM Operations
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Backend Engineering
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Data Science
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iOS Engineering
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Platform Engineering
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Engineering Managers
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Finance Business Partner
See more info here
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🙌🏾The latest from the Colorintech team🙌🏾 |
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