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{"id":35303,"date":"2023-06-16T21:45:00","date_gmt":"2023-06-16T21:45:00","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/16\/mistral-ais-mega-fundraise-is-a-red-flag-for-many-concerned-about-inclusivity\/"},"modified":"2023-06-16T21:45:01","modified_gmt":"2023-06-16T21:45:01","slug":"mistral-ais-mega-fundraise-is-a-red-flag-for-many-concerned-about-inclusivity","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/16\/mistral-ais-mega-fundraise-is-a-red-flag-for-many-concerned-about-inclusivity\/","title":{"rendered":"Mistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/16\/mistral-ai-funding-diversity-problems\/<\/a><\/br>
\nMistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity<\/br>
\n2023-06-16 21:45:00<\/br><\/p>\n

\n

Often, when people<\/span> ask me how the venture and startup market is doing, I have to take a moment. The easy answer is that we\u2019re seeing a downturn. The correct answer is more nuanced: There is indeed a downturn, but it is impacting some much more than others.<\/p>\n

One example of this as clear as day is Mistral AI<\/a>\u2019s recent $113 million seed fundraise<\/a>. The company, founded by three French white men, was started just four weeks ago and doesn\u2019t even have a product yet. That round, which values the company at $260 million, is being hailed<\/a> as Europe\u2019s largest seed round to date.<\/p>\n

Mistral AI\u2019s fundraise is, in some ways, unique to this point in time. There is much frenzy around AI right now<\/a>, and this round did see some U.S. and international investors participating, which you don\u2019t often see happening for many French startups.<\/p>\n

But there are some things that don\u2019t change, regardless of what\u2019s hyped. The market may be improving for AI startups, but we\u2019ve yet to see much money going to women or people of color. Don\u2019t get me wrong, women are receiving money<\/a> for building in AI (Black founders, not so much<\/a>), but not at the rates at which men appear to be. Of course, these three French men fit the profile of those who are likely to receive a $113 million pre-seed check: ambitious Google\u2019s Deep Mind and Meta alums, two of whom have diplomas from the \u00c9cole Polytechnique, practically the MIT of France.<\/p>\n

Sure, there is more of an effort to back women in France today, but the fundraising environment for some French Black founders remains both obviously and discreetly discriminatory, which is unsurprising given the overall treatment of Black individuals<\/a> in the country. There isn\u2019t enough data on how many women and people of color are even looking for funding in France (tracking minority metrics in France is illegal, so such data does not exist), making it hard to gauge how much underrepresented founders raise.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/06\/16\/mistral-ai-funding-diversity-problems\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/16\/mistral-ai-funding-diversity-problems\/ Mistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity 2023-06-16 21:45:00 Often, when people ask me how the venture and startup market is doing, I have to take a moment. The easy answer is that we\u2019re seeing a downturn. The correct answer is more nuanced: There is indeed a downturn, […]<\/p>\n","protected":false},"author":1,"featured_media":35304,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-35303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nMistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/16\/mistral-ais-mega-fundraise-is-a-red-flag-for-many-concerned-about-inclusivity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/16\/mistral-ai-funding-diversity-problems\/ Mistral AI\u2019s mega fundraise is a red flag for many concerned about inclusivity 2023-06-16 21:45:00 Often, when people ask me how the venture and startup market is doing, I have to take a moment. 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