Check your blindspot, w/Sallie Krawcheck (Ellevest)

Gender Gaps

Sallie Krawcheck highlights the persistent gender-based financial gaps, emphasizing the substantial impact of the gender investing gap. She notes that women, on average, retain significantly less wealth than men, which limits their financial independence and opportunities 1. Sallie shares her experience of pitching the idea of addressing this gap to Wall Street executives, only to be met with outdated perceptions about women's financial management 1. Her determination to address these disparities led to the founding of Ellevest, an investment platform aimed at empowering women financially 2.

I happen to be a female. I happen to have been in the investing industry. I happen to see this. It just lit a fire in me that I needed to do this, that I couldn't leave this earth if I wasn't helping women close these money gaps.

--- Sallie Krawcheck

Reid Hoffman supports Sallie's mission, recognizing her unique position to challenge the status quo and promote cognitive diversity in the financial sector 1.

   

Empowerment

Enhancing women's financial power has far-reaching benefits for both the economy and society. Sallie Krawcheck explains that when women have more financial resources, they contribute significantly to economic growth and community development 3. She emphasizes that women reinvest 90% of their wealth into their families and communities, creating a positive ripple effect 3. Despite these benefits, Sallie faced resistance from Wall Street, which failed to recognize the potential of a female-focused investment platform 4.

When women have more money, they spend more money, the economy grows, right? And guess what? They spend more money on businesses that are run by guys, too.

--- Sallie Krawcheck

This oversight transformed Sallie into an entrepreneur, determined to create a product that truly serves women's financial needs 4.