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Fortune
Fortune
Diane Brady, Joey Abrams

The Fearless Fund, Hello Alice, and Robby Starbuck

Robby Starbuck Hello Alice Fearless Fund the Fearless Fund Arian Simone DEI
These two founders didn’t know each other well—until they both got sued by conservative legal activists following the fall of affirmative action. With the cases behind them, they reflect on lessons learned and how other businesses can prepare.   (Credit: Photograph by Stuart Isett/Fortune)

Good morning. 

Between May 2020 and October 2022, Fortune 1000 companies pledged about $340 billion to promote racial equity, according to McKinsey. What precipitated this investment in Black-owned businesses and programs to address racial inequity was the murder of George Floyd. The following year, two white men protested that they now felt left out: Edward Blum sued the Fearless Fund to stop a contest for Black women business owners to win $20,000 grants and former Trump administration adviser Stephen Miller sued Hello Alice, alleging its $25,000 grant program for Black-owned small businesses did the same.  

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