| HubSpot announced this week that it is committing $20 million to social impact investing, including a $12.5 million investment in the Black Economic Development Fund which supports Black-led financial institutions and other organizations. In a release, HubSpot CEO described the investment as part of HubSpot’s support for dismantling systemic racism through long-term change: “Our goal in investing in the Fund is to support Black communities and foster economic empowerment,” he said. Many brands, and not just tech brands, spoke out earlier this year in support of Black communities and #BlackLivesMatter. But has that rhetoric been supported by meaningful action? We spoke with Martin Ekechukwu, CEO of Black-founded and wholly Black-owned agency WHTWRKS. Following the murder of George Floyd, the shooting of Jacob Blake, and other horrific incidents in the spring and summer of 2020, some brand spoke out, but not all. “Brands that recognize they have a strong Black buying population decided to come out and make some really good statements,” said Ekechukwu. “I think GM and Cadillac were some of the better examples, being able to acknowledge that Black people have been driving culture. They understood the value of the Black consumer. Some brands, on the other hand, were stuck in the middle. “They did not have enough courage to say something that could really move the needle. It’s really unfortunate.” Are these brands worried about losing white consumers? “One thousand percent.” Read more here. | 