Sending love to London
Good morning, Broadsheet readers! Theresa May says “enough is enough,” ‘Wonder Woman’ breaks the box office glass ceiling, and Sallie Krawcheck doubts that corporate America will ever “get it” when it comes to diversity. Have a productive Monday.
• Micro choices with macro consequences. Sallie Krawcheck wonders whether it’s time to give up on the idea that corporate America is ever going to truly get the power of diversity. Despite the clear business case for hiring women and minorities, diversity at most big companies has stagnated, writes the Wall Street power player turned Ellevest founder.
Why? “Here’s my theory: We tend to talk about the advancement of women as a macro issue—something to be tackled by corporations, industries, society,” writes Krawcheck. “But in reality, so much of it comes down to the micro.” And those micro factors include everything from clueless bosses to accepted tenets of “good management” to our own unconscious biases.
“In my experience, even the most well-meaning and diversity-positive individuals are, let’s face it, implicitly drawn to working with people like themselves,” she says, sharing a story of an open position at Ellevest that attracted two strong candidates: “Candidate A, who was unlike most of the team in any number of ways—beginning with her mohawk. And Candidate B, who is a lot like the team members we already have in place.”
While the hiring team leaned ever so slightly toward Candidate B, Krawcheck suspected that their opinion was swayed by the way B seemed to “fit in,” rather than her potential value to the company. Should she and her co-founder use their clout to reward diversity and push the team toward Candidate A, or should they step back and let their managers make their own decision? Read on to see how the story played out: Fortune
ALSO IN THE HEADLINES
• Sending love to London. British Prime Minister Theresa May has suggested that she will conduct a sweeping review of Britain’s counterterrorism strategy after three knife-wielding attackers killed seven people in London Saturday night—the third major terrorist attack in the country in three months. “We cannot and must not pretend that things can continue as they are,” she said, later adding: “Enough is enough.” The attack comes at a fraught time for May and the U.K., which has a national election on Thursday. Time
• When Megyn met Vlad. Megyn Kelly’s new NBC News show, Sunday Night with Megyn Kelly, debuted last night with a big exclusive—a sit-down with Vladimir Putin. The Russian president denied that Russia had any involvement in the U.S. election, instead floating the idea that the hackers were American. He also said he doesn’t know Trump’s former National Security Adviser Michael Flynn, despite having sat next to him at a dinner in Moscow in 2015. Fortune
• Wonderful weekend. Wonder Woman slayed at the box office this weekend, grossing $223 million globally—and a historic $100.5 million in the United States, shattering the previous record for biggest opening by a female director. Fortune
• The climate clash heats up. IBM CEO Ginni Rometty will remain on President Donald Trump’s business advisory council—despite disagreeing with the administration’s stance on the environment. Her decision is in sharp contrast with Tesla chief Elon Musk and Disney CEO Robert Iger, who are resigning from the group in response to Trump’s decision to abandon the Paris climate agreement. Meanwhile, a group of tech leaders—including Hewlett Packard Enterprise CEO Meg Whitman—are protesting the president’s move by pledging to match donations to an Environmental Defense Fund campaign at a rate of $5 for every $1 donated.
MOVERS AND SHAKERS: Axios is reporting that Bozoma Saint John, Apple’s head of Global Consumer Marketing for Apple Music, plans to leave the company. Saint John was the breakout star of last year’s worldwide developer conference and one of Fortune‘s 2016 40 Under 40. Marissa Campise, formerly of SoftBank Capital, is raising $50 million from limited partners for Rucker Park, an early stage venture fund based in New York.
MPW INSIDER MONDAYS
Each week, Fortune asks our Insider Network — an online community of prominent people in business and beyond — for career and leadership advice. Here’s some of the best of what we heard last week.
• Small but mighty. Siemens USA CEO Judy Marks says that if you want to build trust with your team, especially as a new boss, you need to shout about the small wins, too. It doesn’t have to be anything fancy, she says, “but if you celebrate milestones along the way, your employees can feel the momentum.” Fortune
• Baby on (the) board. Many women still fear that taking maternity leave could negatively affect their careers. Teresa Briggs, vice chair and West region managing partner at Deloitte, was one of them until she realized that she had to take care of herself first. “There are times in your career when you give and times when you take,” she says. Fortune
• Confronting bias. If you encounter gender stereotyping in the office, start a conversation about it immediately, writes Rachael Powell, chief people officer at Xero. “Forcing people to reconsider their words can spur them to recognize when they’ve strayed into stereotypes or bias, and even evoke an apology.” Fortune
IN CASE YOU MISSED IT
• A question of capital. A pair of analyses from Bloomberg cast doubt on the commonly-held belief that female VCs are more likely to fund women-led startups. Looking at 17 top venture firms, the publication found that those with senior female partners backed companies founded by women at roughly the same rate as firms with no senior female partners. The story also notes that none of the “top 10” private companies founded or co-founded by women had raised money from a female venture capitalist for their Series A or B. It’s a fascinating story, but given the sample size of each analysis, I’d refrain from drawing broad conclusions. Bloomberg
• She said, she said. While White House counselor Kellyanne Conway refused to say whether President Trump believes that climate change is a hoax (in fact, she dodged the question three times in a single interview), UN Ambassador Nikki Haley provided slightly more information on Face the Nation this weekend, when she said that “Trump believes the climate is changing, and he believes pollutants are part of that equation.”
• A sickening report. A report based on a survey of more than a 1,000 employees that was conducted by a workers’ advocacy group claims that Walmart routinely penalizes workers for taking sick days or time off to care for a sick family member. One heart-wrenching account comes from cashier Katie Orzehowski, who says that her miscarriage almost cost her her job; she was forced to return to work while still bleeding. The company said it had not reviewed the report but disputed the group’s conclusions. New York Times
• Parsing Mayer’s paycheck. As the end of Marissa Mayer’s tenure as CEO of Yahoo approaches, this New York Times piece attempts to unpack why, despite the company’s failure, Mayer was paid the equivalent of more than $900,000 a week. It also contains a telling quote from Martha Josephson, a senior partner at the recruiting firm Egon Zehnder: “She was an attractive, high-visibility C.E.O. trying to bring some excitement and glamour to Yahoo. As hard as the job was, she didn’t get a break. If she were an ugly man, she’d be a hero.” New York Times
Share today’s Broadsheet with a friend:
Looking for previous Broadsheets? Click here.
ON MY RADAR
Jean Sammet, co-designer of a pioneering computer language, dies at 89 New York Times
Susan Rice says there’s no evidence that Trump’s travel ban would make us safer Bloomberg
Crispr co-creator Jennifer Doudna faces her fears Bloomberg
Now 94, Harriette Thompson becomes the oldest woman to run a half marathon Washington Post
|Retired banker Masako Wakamiya, 82, the oldest developer attending WWDC, Apple's annual developer conference, which starts today.|