A win for Sallie is a win for all of us

I have to give a huge jumping-up-and-down-on-the-couch screaming shout-out to Sallie Krawcheck of Ellevest on her $53 million Series B!! (And it’s appropriate as she’s our guest lecturer for our Boss Up course next week!)

I am such a fan of Sallie and what she’s built. She has really gotten to the bottom of what is different for women in finance, whether it’s our different needs because we live longer and the wealth gap gets greater as we age or what motivates us to focus on our finances and investing. It’s also just super intuitive and easy with $1 minimums so you can start wherever you are and tweak your auto-withdrawals regularly. 

The cool thing from a company point of view is that two-thirds of the investors are women. Her customers are women. This is what we always talk about but almost never see: Women at the very, very top using their wealth to financially lift up other women. Sallie said in her note to Ellevest customers that Wall Street has never seen anything like it. Nor has Silicon Valley. 

Here’s another reason I love this: On my worst days I think about the fact that female founders like Sallie and Amy Errett of Madison Reed also get mansplained, also have to work that much harder to get funded, also deal with the same sh*t I deal with. That always astounds me because they are two of the most qualified, connected, and high-performing founders in the pre-IPO game right now — full stop. If the two of them still fight gender bias, on one level, that SUCKS. On another level, it means this isn’t about me. 

Is the inverse of that true? Hardly. Just because a total rockstar like Sallie can raise a $53 million Series B doesn’t mean I will. But it means that she did. And she’ll deliver. And so others will. And so I could. 

These wins are wins for all of us. And when we only get 3% or so of the venture dollars, each win matters.

What advice or support can you offer fellow members today?