Companies will get diverse, or else:
https://techcrunch.com/2020/01/23/goldman-says-it-wont-take-companies-public-without-at-least-one-diverse-director-heres-what-it-should-have-said/
“Now Goldman Sachs has made an announcement of its own that’s very much a part of the times: its CEO, David Solomon, today told CNBC that beginning this year, Goldman will no longer take companies public if they don’t have at least one “diverse” member on its board of directors. “Starting on July 1st in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” Solomon said specifically on the network’s “Squawk Box.” Some will, perhaps rightly, see the announcement as little more than marketing. After all, it’s already widely viewed as unacceptable for a company to go public without at least one female board member and preferably far more “diversity” than that. WeWork, for example, tried to go public last year with an all-male board, only to realize soon after that if it wanted to pursue an initial public offering, it had better mix it up a bit. (Of course, by the time it amended its S-1 to name Harvard professor Frances Frei as its first female board member, its offering was already starting to implode.) Adding one’s first female board member ahead of an IPO is such a cliche at this point that the more interesting question is how close to the filing a related announcement will be made.