Coronavirus may cripple VCs, but it’s a catalyst for funding innovation

The venture capital (VC) industry and the many angel groups that act like VC are a fascinating phenomenon. Since it’s official founding 74 years ago, it’s seen very little innovation. It still relies on good-ol-boy networks to find and evaluate startups and “gut feelings,” rather than data, serve as the primary drivers behind investment decisions.  It’s no wonder that only about 2% of VC investment goes to women-led startups (despite 39% of businesses being women-led), and only 3% of VC funding goes to black or Latino led startups. What’s more, 74% of VC funds have zero female investors and most…

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