Common meaning:

Black people matter just as much as white people.

Hidden meaning of the Equity religion: 

Only people who are members of the oppressed black group matter. 

Discussion:

From the perspective of the Equity believers promoting Black Lives Matter, the only people who matter are members of the oppressed black group. 

Equity has never been shy in declaring that it hates white people. I have read numerous times where Equity believers have told white people to just shut up and listen. The anger that comes out from them when they talk about white people is shocking.

I personally have great sympathy for people who are part of groups that have been abused and oppressed. The problem is there is no way we can ever right the wrongs of the past. We have to forgive the injustices done to ourselves and our families, not to let others off the hook, but for our own sanity. If we hold on to anger, it will burn us up from the inside out.

I believe Black Lives Matter is a phrase that is currently being used to hang on to past hurts. Some would disagree, but I believe the evidence is clear. If we are only allowed to say Black Lives Matter, but not White Lives Matter, then it is clear our phrase is tainted with tribal anger and hope for revenge.