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Black entrepreneurs have been systematically targeted for decades. Carlos Watson is one of the latest to be selectively prosecuted and wrongfully convicted.
A 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.

PROFILES
1994
Joseph Jett
Top 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.
1996
Calvin Grigsby
From 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.
2004
Franklin Raines
Harvard 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.
2007
Stan O'Neal
Grandson 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.
2009
Victor MacFarlane
Founded perhaps the largest Black real estate company in the country ($20B).

Faced possible indictment and cut an unusual deal with the state pension fund.
2021
Robert Smith
Perhaps the Wealthiest Black American ever.

Faced tax charges, boosted fame by pledging $34M to pay off Morehouse student debt, spurring a government deal.
2021
Arthur Hayes
Leading Black crypto entrepreneur and youngest Black business billionaire in history.

Indicted in 2020 and ultimately struck a deal to avoid any real jail time.
2023
Carlos Watson
Founder of OZY Media and former MSNBC / CNN host, targeted by Brooklyn prosecutors with a 90% focus on people of color.

Currently striving to clear his name.
2023
Marlon Weems
Writer 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.
2023
Fearless Fund
A small venture capital fund supporting Black women and women of color

C‍urrently facing a lethal lawsuit, filed by the lawyer who also took down affirmative action.

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CASE FILES
001
Entrepreneuring While Black
A sobering look into  the experiences of Black entrepreneurs in America.
002
Injustice by Design
Uncover the intentional systems that perpetuate racial discrimination against Black entrepreneurs.
003
The Troubling Case of Carlos Watson
A deep dive into the  OZY Media founder's highly concerning case.
004
Under Siege: Fearless Fund
Discover the story of a small venture capital fund supporting Women of Color that is currently facing a lethal lawsuit, filed by the lawyer who also took down affirmative action.
005
The Experts Weigh In
COMING SOON
Top experts like Georgetown Professor Paul Butler, UC Professor Angela Davis, Senator Cory Booker, Judge Jed Rakoff and Harvard Professor Ron Sullivan weigh in on systemic racism.
006
Too White to Prosecute
COMING SOON
Explore the stark contrast between the treatment of Black entrepreneurs and their White counterparts.
007
A Perfect Storm
COMING SOON
From the attack on the Fearless Fund to redlining in venture capital to overcharging and selective prosecution, we unpack this perfect storm of systemic hurdles.
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Too Black For Business advocates for fair treatment and equality for Black entrepreneurs, including Carlos Watson.  Our goal is to highlight systemic challenges and support innovation in the Black business community. Too Black For Business is an independent initiative operated by TBFB.

All rights reserved.

Too Black for Business?

Black Entrepreneurs face systemic racial discrimination when trying to raise money to launch a business. They are further subjected to a double standard that criminalizes their actions while their white counterparts often get a pass.

Too Black for Business exists to call out that double-standard and shine a light on the Black Entrepreneurs who’s lives it upends.
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Happening Now
Entrepreneuring While Black
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The Troubling Case of Carlos Watson
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Injustice by Design
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