“Meritocracy”: a word that had originated in social satire and was adopted in sincerity by an industry that could be its own best caricature. It was the operating philosophy for companies that flirted with administering IQ tests to prospective and existing employees; for startups full of men who looked strikingly similar to the CEO; for investors undisturbed by the allocation of 96 percent of venture capital to men; for billionaires who still believed they were underdogs because their wealth was bound up in equity.
