- Hispanics who are most likely to go on-line are
- Born in the United States
- Bilingual or English Dominiant
- High school or college educated.
Despite this, Wall Street in all its wisdom during the go-go days of the late 1990s invested heavily in hugely hyped start-ups focused on Latinos who were:
- Foreign-born
- and Spanish-dominant.
I have to believe this is because the leadership in Wall Street is about the least diverse of any profession on the planet. You're about as likely to find a Latino in a position of power on the Street as in the Daughters of the Confederacy. And if you do, the Latinos are foreign-born elites unfamiliar with the US born Latino population.
Overall, we are talking about folks who's only interaction with US Latinos are with the chambermaids of five-star hotels.
I'll never forget talking to a venture capitalist with Piper Jaffrey who felt so in touch with "la communidad" because his wife had recently bought a Luis Miguel cd. Geez, my brother once bought me a Iggy Pop cd; doesn't mean I'm more in touch with Anglos.
No wonder this guys fell head over heals with Spanish-language sites despite all I was saying.
Well, last Thursday March 14, 2007, the Pew Hispanic/Pew Internet released a study that empiracally confirmed:
- Hispanics who are most likely to go on-line are:
- Born in the United States
- Bilingual or English dominant
- High school or college educated
I don't feel the least bit vindicated; these clueless Anglos wasted gobs of money that could have been better spent creating resources that truly serve the community.
Armed with this new data, I sure the Street will come up with something even more idiotic.
Download the full Pew Hispanic/Pew Internet report on PDF format