Well before the Trump Trade War began and the termination of tens of thousands of Federal employees, projections indicated an economic loss of $8.2 trillion by 2030 in the United States. Primarily due to a widening skills gap, a crisis exacerbated by a staggering 1.2 million unfilled jobs in Big Tech. While we've long relied on traditional strategies and approaches to right the ship, the 21st century demands a new engine for economic mobility and growth: an inclusive tech sector that harnesses the full potential of those still being marginalised.  

Despite being a self-proclaimed “pioneer,” Big Tech remains remarkably homogeneous. Black professionals make up a mere 7% of the tech workforce and receive just 1% of VC funding. This lack of diversity isn't just a social injustice; it's an economic blunder. A recent McKinsey study warns that the racial wealth gap will drain $1.1 to $1.5 trillion from the US economy by 2028. We can't afford this self-inflicted wound.  

The good news? A blueprint for America's economic potential has emerged from the heart of Detroit. It began with a simple yet powerful question: "What if?" What if we created a space where Black and Brown tech founders could truly thrive, where innovation and inclusion were one and the same? That one "What if?" posed during a Saturday morning meet-up has ignited a movement called Black Tech Saturdays (BTS) and it has played a pivotal role in the economic resurgence of the city, and redefining it as a premier tech hub.  

Quite simply, BTS is a vibrant community of over 17,000 entrepreneurs, tech professionals, and the tech curious. Every week, BTS becomes a dynamic marketplace of ideas, mentorship, and collaboration. We're not just talking about change; we're building it, one connection, one opportunity, one Saturday at a time. But BTS is proving something even more profound: that a focus on a broader range of backgrounds and experiences isn't just a social good; it's the bedrock of a thriving 21st-century economy. Regional tech ecosystems have already proven to be powerful engines of collective economic growth.  

The 31 Federal tech hubs, strategically located across the country, are designed to foster innovation, create jobs, and ensure that the benefits of technological advancement are shared widely, not concentrated in a few coastal cities. Regions with tech hubs experience GDP growth rates twice the national average. There is one major difference, however. While other hubs often focus primarily on attracting outside talent, Detroit’s model is unapologetically rooted in uplifting the people that already call the city their home. It's about empowering those who have been overlooked and underestimated, and it's proving that talent knows no zip code.  

And it’s a gamble that has more than paid off. The city that once saw thousands of its residents migrate to other cities and states, is now a top travel destination. Our recent roadshow, where we brought the energy and vision of Detroit’s inclusive tech ecosystem to cities like Houston and Miami, proved that the hunger for this model of economic development is far and wide, despite what you may hear from the Hill.  

Detroit is rapidly becoming the most successful tech hub, an ecosystem where a commitment to a diverse talent pool is recognised as the smartest path to sustainable growth. The secret sauce? Active allies and the power of partnership.  

Detroit’s inclusive tech movement has strong allies that extend well beyond 8 Mile. The State of Michigan, the Michigan Economic Development Corporation, the Song Foundation, Michigan Central, the Gilbert Family Foundation, Rocket Community Fund, the Kapor Center, NASA, and Microsoft, all believe in the power of inclusive innovation. These partnerships aren’t just mouthpieces either. They provide critical resources, from funding and mentorship opportunities for entrepreneurs to collaborative initiatives that ensure tangible reach and impact.  

We cannot afford to be complacent. Even as Michigan champions a more inclusive tech future, major corporations like GM, Amazon, McDonald’s, and Target are rolling back their equity initiatives in response to the new administration. Conversely, companies like Costco and Microsoft, which have reaffirmed their commitment to a highly qualified and diverse workforce, are being met with intimidation tactics. The forces of inertia are strong, and the temptation to retreat to the status quo is ever-present.  

According to a study by Deloitte, bridging the digital divide could inject $186 billion into the US economy annually. That should be our goal. Now, more than ever, we must invest in Black and Brown founders and creators, not as some niche initiative, but out of a clear-eyed understanding that it's the best investment we can make in our own economic well-being and that of our country.  

The future of the American economy is being written right now. We can choose the path of inertia, where a privileged few reap the rewards of innovation, or we can forge a new path, one where diversity fuels prosperity for all. The choice is ours.  

My vote is for a new era of shared prosperity.

If Black History is really just American History, as we’ve heard repeatedly this month, shouldn’t the American dream be within our arms reach as well? Let's invest in a future where the American Dream is truly within everyone's reach. Let's build an economy that works for all of us, not just a select few.  

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