Daniel Penny has joined the venture capital firm Andreessen Horowitz (a16z) in a move some critics view as a diversity, equity, and inclusion (DEI) hire. David Ulevitch, a general partner at the top Silicon Valley investment firm, confirmed Penny’s hiring in an internal statement to The Free Press. He stated that Penny will “learn the business of investing and he will work to support our portfolio companies.” “We believe in Daniel and are excited to have him as part of our team,” Ulevitch said, per The Free Press. There has been criticism regarding Penny’s qualifications, with some perceiving his appointment as a political move after he avoided a 20-year prison sentence for the death of a homeless man. Following his acquittal last year, he was seen attending the Army vs. Navy football game as a guest of then-President-Elect Donald Trump. For this reason, the new hire may be painted as a public relations tactic for a16z rather than a hire based on merit, since Penny has no investing...

The city of Houston, TX, remains deeply rooted in the heart of Kelly Rowland. Rowland, originally from Atlanta, GA, relocated to Houston, TX, when she was 8 years old to pursue her dreams of becoming a singer and resided with the Knowles family. She rose to fame as part of Destiny’s Child, originally named Girl’s Tyme, which was managed by Mathew Knowles, Beyoncé Knowles’ father. When she was 11, Rowland joined Girl’s Tyme, which originally had six members. She remained part of the group through various lineup changes, ultimately becoming one of the lasting three members of Destiny’s Child in 1999, alongside Michelle Williams and longtime friend Beyoncé. The group disbanded in 2006, but is still recognized as one of the best-selling music groups in history, with over 60 million records sold, noted Business Insider. Destiny’s Child made its mark in music history thanks to records like “Say My Name” (1999), “Bills, Bills, Bills” (1999), “Soldier” (2004), and “Lose My Breath ” (2005)....

Pronghorn has invested in a Black-owned company disrupting the event and spirits sector. As AFROTECH™ previously reported, Pronghorn aims to pump $2.4 billion in “economic value” into the Black community by cultivating their growth in the spirits industry. With a goal in 2022 to invest in 57 Black-owned spirits brands by 2032, the firm also provides guidance to Black founders as well as employment opportunities. It is already working toward placing individuals in 1,800 roles within the sector. Pronghorn has invested in numerous companies in the spirits industry, including Tequila with Friends, Den of Thieves, Ego Tequila, and singer Ciara’s Ten To One. Joining the lineup is Eventnoire, an event management and online ticketing platform created by Jeff Osuji. According to a press release, Eventnoire has over 10,000 venues and event organizers and a network of 400,000 influencers across North America and Africa, solidifying the company as a leader within the ticketing sector that is...

Ice Cube is celebrating wins in different sectors. As AFROTECH™ previously reported, Ice Cube has been investing his time in his BIG3, a 3-on-3 basketball league that has been expanding to Los Angeles, CA; Detroit, MI; Houston, TX; and Miami, FL. Its presence in the aforementioned states follows a reported $10 million sale each in an effort to adopt a city-based model. “We need to plant our roots in cities so we can be more than a rolling all-star game coming through,” Ice Cube previously told Bloomberg. “It’s really about growing the sport and the league.” While he is gaining momentum in the sports world, he is also growing in the entertainment space. According to a news release, his production company Cube Vision has landed an expanded partnership with Paramount Global. The partnership builds on an existing relationship between the parties, who have previously collaborated with the taping of the Big3 basketball league games, which aired on CBS, as well as on other projects. The...

If you’ve been tuned into the news lately, you’re likely familiar with the term ‘noncompete agreement.’ Despite the term being used a lot in modern discourse, you may not have a full functioning knowledge of what a noncompete actually is. The Federal Trade Commission recently issued a rule banning noncompete clauses for a wide array of business ventures , estimated to impact over 30 million people. The ruling will render existing noncompetes relatively unenforceable, and prohibit major companies from issuing new ones, even for their high-ranking execs . Luckily, if you haven’t signed one of these yourself in recent years, you likely don’t need to worry about them. Of course, it’s still good to be in the know, so you know your rights when beginning a new job, or executing a contract with another business. So, what is a noncompete? Does it impact your profession? And what are the pros and cons? Continue reading below to have all these questions and more answered, as we dive into the...

Across Taraji P. Henson’s career of over two decades, she has always been a fighter to reach her dreams.

Residents of metro Atlanta, GA, no longer have to pull up to a Slutty Vegan location to grab several items on its menu.

While Venus and Serena Williams have made sports history on the tennis court, they’ve also made history beyond it. AfroTech previously reported the sisters were the first Black women to become minority investors in an NFL team after securing a stake in the Miami Dolphins.