Black entrepreneurs have been systematically targeted for decades. Carlos Watson is one of the latest to be selectively prosecuted and wrongfully convicted.
Case Files
Discover the truth about the challenges faced by Black entrepreneurs and join the conversation.
A sobering look into the experiences of Black entrepreneurs in America.
Case file 001Entrepreneuring While Black
Uncover the intentional systems that perpetuate racial discrimination against Black entrepreneurs.
Case file 002Injustice by Design
A deep dive into the OZY Media founder's highly concerning case.
Case file 003The Troubling Case of Carlos Watson
Discover the story of a small venture capital fund supporting Women of Color.
Case file 004Under Siege: Fearless Fund
Profiles
A sobering look into the experiences of Black entrepreneurs in America.
Entrepreneuring While BlackA Long History of Injustice
From Joseph Jett (Wall Street) to Calvin Grigsby (Banking) in the 90s, Robert Smith (Private Equity), Frank Raines (Fortune 500 CEO) in the 2000s/2010s, to Fearless Fund (Venture Capital) and Carlos Watson (Media) recently, black stars face a double standard by prosecutors, competitors and media.
Black entrepreneurs, once successful in mainstream spaces, face disproportionate scrutiny, seeing errors rebranded as 'crimes.' In contrast, White CEOs like Elon Musk, Adam Neumann, and Ben Smith enjoy leniency, wealth accumulation, and room for mistakes. The problem is spreading as more Black Americans leave corporate America behind and focus on becoming their own boss.
No one is immune.
Joseph JettTop Trader on Wall Street who traded $30B per day. Took him 12 years to largely clear his name.Won his freedom, but was never a major player on Wall Street again.
Calvin GrigsbyFrom Arkansas. A lawyer and then banker who built an investment bank from scratch.Spends his entire life savings clearing his name, but loses investment bank in the process.
Franklin RainesHarvard Grad and Rhodes Scholar, Later a successful banker and senior government official.Blamed for subprime mortgage crisis and never works in high-level finance again.
Stan O'NealGrandson of an Enslaved person who went from GM factory worker to Harvard MBA to Wall Street CEO.Internal competitors inside Merrill Lynch partnered with outsiders to oust him.
Victor MacFarlaneFounded perhaps the largest Black real estate company in the country ($20B).Faced possible indictment and cut an unusual deal with the state pension fund.
Robert SmithPerhaps the Wealthiest Black American ever.Faced tax charges, boosted fame by pledging $34M to pay off Morehouse student debt, spurring a government deal.
Arthur HayesLeading Black crypto entrepreneur and youngest Black business billionaire in history.Indicted in 2020 and ultimately struck a deal to avoid any real jail time.- Carlos WatsonFounder of OZY Media and former MSNBC / CNN host, targeted by Brooklyn prosecutors with a 90% focus on people of color.In 2025, as expert review deepened and new disclosures surfaced, the case collapsed under scrutiny -- and the President, guided by the White House Pardon Czar, formally resolved the matter in Carlos' favor.
Marlon WeemsWriter and publisher at intersection of the economy, politics, and anti-Black racism.Spent more than a decade of his thirty-year finance career on Wall Street.
Fearless FundA small venture capital fund supporting Black women and women of colorUpdate – Fearless Fund Shut Down by Federal Court