I grew up in Silicon Valley. I will be 59 at the end of this month. I'm an African-American male who has worked his way up in the tech industry from a computer operator to the owner/operator of his own tech consulting firm and "beyond"...
The industry here is the closest thing to a meritocracy I've ever experienced. If you're an entrepreneur worth exploiting here, you will be exploited. Anyone with a good idea can get a hearing as long as they know how to present it to the right people in the right way. I can honestly say that the stakes here are too high for racism to interfere.
My experience was that I was competing against kids whose parents were among the pioneers in the industry. Most black kids were excluded from college by economic circumstance as well as bias when I was growing up. Kids whose parents worked for nascent enterprises like Intel and HP and Fairchild and Apple had--and still have--a leg up on everyone else. The children of BSEE's have more of a chance to become BSEE's than the children of carpenters or dock workers. That's just the way of the world. But I had a knack for the industry, and I got in on merit... and luck.
My son is one of the few kids in our area--black or white--who had an internet connection in his home by the late-eighties. He was one of the few kids in our neighborhood who had a personal computer at his disposal. He didn't nerd out, but he had the opportunity if he'd wanted to pursue it. That's the biggest factor in this; if your parents are nerdy, it's likely you'll be nerdy, too. The lack of access to college among Black Americans before the Civil Rights Movement was probably the single most formidable impediment to the fostering of significant numbers of Black Tech Entrepreneurs. If your parents don't know Avogadro from an avocado, it's unlikely you will either--no matter what color you are.
The current political attitude toward funding education makes it likely that things will stay that way unless people demand change.