CTO Megan Smith explains why Silicon Valley is so bad at diversity

As President Barack Obama's chief adviser on technology policies, Megan Smith is trying to bring workforce inequality to the attention of the highest levels of government. The problem has taken new urgency with another round of embarrassing workforce data released in recent days by tech's leading firms. Despite splashy promises to pour more resources and attention into recruiting women and minorities, the work forces at Google, Yahoo, Facebook and Apple haven't changed. Women make up less than 20 percent of employees, Hispanics hold about 5 percent of jobs, and blacks are particularly under-represented at below 2 percent of those work forces. Smith said tech companies are now willing to admit their dismal track record with hiring and promoting women and under-served minorities. Still, despite promises to do better, only those that make it a top priority will see progress. And perhaps the biggest problems -- ones that can't be solved through technological fixes alone -- are the hard-set, unconscious biases that are spread throughout the culture.

She recently introduced special screenings of the documentary "Code: Disrupting the Gender Gap" at the State Department and on Capital Hill. Smith, who appears the film, told an audience of hundreds gathered at the Capitol building that the diversity problem in Silicon Valley could weigh down on the entire nation. "In venture capital, three percent of venture funding is going to women and less than one percent to people of color. People across the country have extraordinary ideas for startups. We need to leverage that talent on behalf of our economic future. We need to support VCs to overcome their biases," Smith said.