Good morning, Broadsheet readers! Glossier raises a big round, Kylie Jenner may have tanked Snap’s stock, and Barclays is paying female investment bankers less than half (half!) of what their male colleagues are earning. Have a wonderful weekend.
• #MyPaycheckToo. Apologies in advance for setting your blood boiling first thing Friday morning. But Barclays, the first big U.K. bank to publish its gender pay gap under country’s new disclosure laws, has revealed that it pays its female investment bankers just under half as much as their male colleagues (on average). That gap widens to 79% for bonuses paid to employees at its corporate and investment bank.
The disparity is exacerbated by the fact that men dominate the bank’s top ranks. Less than a third of Barclay’s senior managers are female, and only a single woman, interim chief compliance officer Laura Padovani, sits on its nine-member group executive committee. (For more on the state of women in finance, check out Morgan Stanley’s list of new managing directors in Wealth Management—hat tip to Sallie Krawcheck!)
CEO Jes Staley, meanwhile, told reporters that the bank is “confident that men and women across our organization are paid equally for doing the same job.”
There’s been some buzz online that the next stage of #MeToo will focus on the gender pay gap. While there’s still a lot to do in terms of outing sexual harassers and assaulters, this story suggests just how overdue we are for that particular reckoning. So allow me to steal a term from this Bloomberg story and say: the paytriarchy is next.
ALSO IN THE HEADLINES
• Glossier get flossier. Glossier, the digital-native beauty brand founded by Emily Weiss, just closed a $52 million Series C from its existing investors. The round brings the startup’s total funding to $86 million.
• Kylie snaps back. On Wednesday, Kylie Jenner joined the ranks of Snapchat users complaining about the platform’s latest redesign, tweeting that she no longer opens the app. The next day, shares of Snap fell as much as 7% in trading—helping the company shed over $1 billion in value, bringing its market cap to about $22 billion. What do you think? Was it the Kylie Effect?
• Shutting it down. Meryl Streep and Jennifer Lawrence are having none of Harvey Weinstein’s attempts to use their previous comments to bolster his attempt to win the dismissal of a lawsuit accusing him of sexual misconduct. Both actresses have released withering statements dismissing the ploy and asserting their support of the women who are accusing Weinstein of abuse. Th producer has since apologized.
• Read this list! This Pitchbook roundup of “25 black founders and VCs to watch in 2018” includes a host of powerful women, including Black Girls Code founder Kimberly Bryant, Proday founder Sarah Kunst, and Reach Capital co-founder Shauntel Poulson.
MOVERS AND SHAKERS: Dina Powell, who until recently served as a top national-security adviser in the White House, is reportedly talking to Goldman Sachs about returning to the firm. Margaret Brennan, senior foreign affairs correspondent for CBS News, will be the next host of Face the Nation. She becomes the only woman currently serving as a solo anchor of a major Sunday political affairs show. Goop has named former Allure executive editor Danielle Pergament editor in chief. The company has also hired Ali Pew, formerly style director at InStyle, as fashion director and former Lucky fashion director Anne Keane as fashion strategy director. OpenView promoted Elizabeth Cain to general partner.
IN CASE YOU MISSED IT
• Canceling Comcast. This Jezebel investigation reveals Comcast call centers to be “workplaces where sexual harassment, both verbal and physical, is still frequently allowed to run amok.” The six women who spoke to the publication said that the company failed to protect them when they complained—and, in some cases, even subjected them to professional consequences for speaking up.
• The match before the match. Before the USA women’s hockey team won gold in Pyeongchang (for the first time since 1998), it won another victory: equal pay. After a 15-month contract negotiation, the players secured a substantial raise, as well as the same travel stipends and accommodations as the men’s team.
• Listen up. Reshma Saujani, CEO of Girls Who Code, just launched Brave, Not Perfect, a new podcast series. The first episode features Drop the Ball author Tiffany Dufu.
• About time. Deb Haaland, a single mom based in Albuquerque, New Mexico, is running for a House seat. If she wins, the enrolled member of the Laguna Pueblo tribe would be the first Native American woman to serve in Congress.
ON MY RADAR
State Department will reportedly trim language on women’s rights in human rights report
Sexual harassment claims have fallen among young white women, but not older women or black women
Harvard Business Review
Jane Seymour, 67, poses for Playboy and discusses sexual abuse
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