Earn Your Leisure Podcast: "The DEI Lie: What it Really Means"

Episode Overview

In the January 14, 2025 episode of Earn Your Leisure, hosts Rashad Bilal and Troy Millings delve deep into the contentious topic of Diversity, Equity, and Inclusion (DEI) within major corporations and the broader societal implications. Titled "The DEI Lie: What it Really Means," the episode scrutinizes the efficacy of DEI programs, their actual implementation in the corporate world, and the tangible outcomes (or lack thereof) for underrepresented communities.

1. Introduction to DEI Concerns ([03:49] - [05:09])

The episode kicks off with Troy Millings bringing attention to Meta's recent decision to discontinue all DEI programs. This move is presented as part of a broader pattern where major corporations are rolling back their commitments to diversity and inclusion initiatives.

Notable Quote:

Troy Millings ([03:54]): "Meta has discontinued all his DEI programs."

Following this, Troy highlights other significant changes within Meta, such as the removal of LGBTQ flags and Mark Zuckerberg’s controversial interactions, including his visit to Mar-a-Lago and the incident of removing Donald Trump from Instagram.

Quote:

Troy Millings ([04:07]): "Mark Zuckerberg goes anyway. The wind blows them first."

2. The Power Dynamics of Presidents and Corporate Influence ([04:16] - [06:03])

Rashad and Troy engage in a heated discussion about the real power wielded by presidents, countering the notion that a "shadow government" holds the reins of authority. They argue that the actions of top CEOs like Jeff Bezos, Tim Cook, Elon Musk, and Mark Zuckerberg demonstrate that presidents do, in fact, possess significant influence.

Notable Quote:

Troy Millings ([04:24]): "Anybody that's black that has risen to any level of significance, they can discredit it in one sentence by saying their DEI higher."

3. DEI Metrics and Corporate Accountability ([06:03] - [07:26])

The hosts present stark statistics to illustrate the minimal representation of Black individuals in high-ranking positions within Fortune 500 companies and the venture capital landscape. They emphasize that DEI initiatives have not translated into meaningful inclusion or opportunities for Black professionals.

Key Statistics:

• Less than 1% of Fortune 500 CEOs are Black.
• Less than 0.5% of venture capital funding goes to Black-owned businesses.
• Under 1% of all money managers are Black.
• Less than 7% of the tech industry's workforce comprises Black individuals, despite representing 16% of the general workforce.

Quote:

Troy Millings ([07:20]): "Less than 1% of the capital goes to black startups."

4. Critique of Corporate DEI Initiatives and Fund Allocation ([07:40] - [10:35])

Rashad and Derek discuss the inefficacy of corporate DEI programs, particularly highlighting how promised funds often fail to reach intended recipients. They argue that corporations channel millions into DEI initiatives without ensuring proper distribution or impact, leading to skepticism about the true intentions behind these programs.

Notable Quote:

Rashad Bilal ([08:25]): "It was supposed to be allocated for. And when it's not allocated to those people, what's the consequence?"

5. The Double-Edged Sword of DEI Labels ([10:35] - [12:44])

The conversation shifts to how DEI has become a tool for discrediting Black professionals regardless of their qualifications. The hosts argue that the DEI label is weaponized to maintain systemic barriers, preventing Black individuals from ascending to significant roles despite their achievements.

Quote:

Troy Millings ([07:45]): "They don't care if you went to law school. They don't care if you graduated first in your class. They could say your DEI higher, which discredits you from actually obtaining any job of significance."

They further discuss the lack of recognition for diversity efforts outside the Black community, questioning why LGBTQ individuals or Asian CEOs like Microsoft's have not been similarly labeled under DEI.

Quote:

Troy Millings ([12:07]): "Is he [Tim Cook] Diversity, Equity, and Inclusion by having somebody from the LGBTQ community. As you only hear DEI when it's a black person."

6. Corporate Donations vs. Tangible Outcomes ([12:44] - [14:05])

Rashad and Derek critique corporate donations tied to DEI initiatives, suggesting that while companies may publicize large financial contributions (e.g., $100 million), these funds rarely benefit the targeted communities in meaningful ways. They emphasize the lack of transparency and accountability in how these donations are managed and allocated.

Notable Quote:

Derek ([10:35]): "Anyone who says the presidents don't have power, never met anybody with power or you were uninformed."

Rashad adds that corporate financial power outpaces any individual contribution, highlighting that companies like Apple operate on massive revenue streams that dwarf typical DEI funding efforts.

Quote:

Rashad Bilal ([11:18]): "If I donated a million. But my company is allowed to make what, a hundred billion in a quarter easily."

7. The Future of DEI in Corporations ([14:05] - End)

The episode concludes with a discussion on the precarious future of DEI programs within major corporations. The hosts suggest that without genuine commitment and strategic allocation of resources, DEI initiatives will continue to fall short of creating meaningful change. They caution that superficial gestures without accountability mechanisms will perpetuate systemic inequalities.

Final Thoughts:

Rashad Bilal ([14:05]): "Keeping you close. Hey mom, you seen my toothbrush? Yeah, I'm almost done with it. Oh maybe too close."

(Note: The final segment includes advertisements unrelated to the main discussion and serves as a segue to the episode's conclusion.)

Conclusion

In "The DEI Lie: What it Really Means," Earn Your Leisure critically examines the state of Diversity, Equity, and Inclusion initiatives within top-tier corporations. Through incisive discussions and compelling statistics, Rashad Bilal and Troy Millings argue that DEI programs often serve as performative measures rather than catalysts for genuine change. The episode calls for increased accountability, transparent fund allocation, and a re-evaluation of how diversity and inclusion are genuinely integrated into corporate structures to benefit underrepresented communities meaningfully.

Key Takeaways:

• DEI initiatives in major corporations are often criticized for being more symbolic than substantive.
• There is a significant underrepresentation of Black individuals in executive roles and access to venture capital.
• Corporate donations to DEI causes frequently lack proper allocation and oversight.
• The DEI label is sometimes used to undermine the achievements of Black professionals.
• Genuine systemic change requires more than just financial contributions; it demands strategic, transparent, and accountable actions.

For Listeners: If you're passionate about understanding the real impact of DEI initiatives and seeking honest conversations about systemic inequalities in the corporate world, this episode provides valuable insights and critical perspectives worth considering.