Good morning, Broadsheet readers. Today is Women’s Entrepreneurship Day, so I spoke to a couple of startup founders about what it really means to be a “female entrepreneur.” Want more entrepreneurship stories in The Broadsheet? Me too. Email me at email@example.com with your suggestions. Also, read on to hear how Sallie Krawcheck found her career path, and to learn why Girl Scout troops are now meeting with financial advisors. Have a great Wednesday!
• Who’s going to take care of the kids? Some 66% of millennial men expect their partners to assume primary responsibility for raising children, while only 42% of millennial women think they will become the main caregivers, according to a Harvard Business Review study. Also, just 25% of women in Generation X expect to be in a “traditional” arrangement when it comes to one person’s career taking precedence over the others. In reality, 40% ended up in that situation. I might not be a math expert, but something doesn’t seem to add up there. Fortune
ALSO IN THE HEADLINES
• Sallie Krawcheck: Forget ‘Plan B,’ get a strong ‘Plan D.’ Before Ellevate Network chair Sallie Krawcheck found her footing as an equity research analyst, she went down several different career paths that didn’t work out — including a failed journalism internship at Time Inc. Krawcheck shared her thoughts with LinkedIn for a new series called “The Road Not Taken.” GE CMO Beth Comstock and MSNBC’S Mika Brzezinski are among those who also chimed in with thoughts on their unconventional career paths. LinkedIn
• Wanted: Female financial advisors. As baby boomers come to an age where they need more financial advice, financial planning is becoming one of the fastest growing U.S. careers. And because women are controlling more wealth, the industry is aggressively looking for more females to become advisors. “We can’t just wave the wand and say come on in. We’ve got many years of work before us,” financial advisor Eleanor Blayney said of the dearth of women going into the profession. Bloomberg
• Diversity fights bubbles. Groups of financial traders all from the same ethnic background are more likely to miscalculate the price of a stock than are ethnically diverse groups. “In other words, when a bunch of white guys are trading among themselves, they are more likely to drive prices to irrational levels,” writes Neil Irwin of the New York Times. NYTimes
• Arkansas tackles board diversity. Yes, Arkansas. Women represent 12.3% of board seats in the state — compared to about 17% nationally at Fortune 500 companies. A local executive search firm is trying to change that. Arkansas Business
• From the MPW Co-Chairs. Ex-Spanx CEO Laurie Ann Goldman used to believe that every question had just one right answer. She told Pattie Sellers that learning otherwise made her a better leader. Fortune
On Women’s Entrepreneurship Day, lets dispel some myths
Cynthia Breazeal has never considered herself a woman entrepreneur. An entrepreneur? Yes. A leader? Certainly. But gender really has never come into play as she expands her company Jibo, the maker of the world’s first family robot.
I wholeheartedly agree with Brezeal’s sentiment that artificially attaching gender to someone’s title can be awkward. Still, today is Women’s Entrepreneurship Day, a global movement to celebrate and support female founders and shed light on some of their specific challenges. In honor of the event, I interviewed Breazeal, as well as Susan Coelius Keplinger, co-founder of online ad platform Triggit, about their experiences building their respective companies from scratch.
“The world would certainly be a better place if we had more women entrepreneurs,” said Breazeal. “Women are going to bring a different angle to startups. The stereotype is that it is all young geeky guys and that is not true. It is critical for women to become entrepreneurs because of their unique perspective.”
Caroline Fairchild: What are some myths about what it means to be a woman entrepreneur?
Susan Coelius Keplinger: There are plenty of stories, and I have been in plenty of situations when I was younger, where male investors wanted to sleep with me and they didn’t want to do business with me. Yes, there are some bad eggs out there that are men, but there are some women who are equally as snotty. Sexism exists, especially if you are young and good-looking, but those are not the type of people you want to be around anyway. I don’t know how to make an asexual society. We are in a time right now when a huge set of swell is coming. There are a bunch of waves that are terrible that you don’t want to ride, but there are also a bunch of awesome waves that seem crazy – but you be great if you got on top of them. If you go to raise money and you find a guy that is an ass, move on. You have to remember that even if you have a good idea, people could still say no 100 times.
Cynthia Breazeal: I am lucky because I am trying to do something that has never been done before, so the focus is on that and not me and my gender. My credibility is not in question here. So the focus is on where it needs to be, which is what we are trying to accomplish. I have always been on the forefront of innovation, so the attention has always been on the robots I built rather than on me. I think being an entrepreneur is hard no matter what gender you are.
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IN CASE YOU MISSED IT
• Girl Scouts talk stocks. At a recent meeting for Girl Scout Troop 3157 on the Upper East Side of Manhattan, the conversation wasn’t about cookies or play dates — it was about the stock market. A private wealth advisor at Merrill Lynch met with the young girls to give them a early taste of financial literacy. CNNMoney
• The $495 smart bracelet. Intel thinks “stylish” women will pay nearly $500 for a new smart watch that automatically sends text messages, emails and phone calls without being connected to any smartphone. The tech company thinks women will jump at the opportunity to self-select who in their inner circle will be able to contact them via the device. Time
ON MY RADAR
How to avoid becoming a workaholic Fortune
Church of England approves plan for female bishops NYTimes
The murky boundaries of the modern work day The Atlantic
70% of managers make their teams worse Quartz
How to continue golf’s positive outreach to women Sports Business Journal
I’ve never heard a very high-ranking executive at a $20 billion company talking about a million-dollar budget to destroy my life. I’ve never heard of a case where someone was bragging about it at a dinner, where it was considered totally socially acceptable. It’s really scary that there’s a company culture where objectification and violence against women is condoned. And you run a service where women get into strangers’ cars alone at night.Sarah Lacy, the journalist who was targeted by Uber senior executive Emil Michael for a proposed $1 million smear campaign, shares her reaction to Michael's 'off the record' remarks.