“I started to wonder how it would be perceived if I did that and how it would be perceived if a man in my position did that,” she says.

It’s a reflection that was shared by women throughout Silicon Valley—so much so that Airbnb cofounder and CEO Brian Chesky, whose talk on the topic inspired Graham to pen his essay, weighed in on Tuesday. “Women founders have been reaching out to me over the past 24 hours about how they don’t have permission to run their companies in Founder Mode the same way men can,” he posted on X. “This needs to change.”

Founder mode has captured the attention of the tech industry. And it’s just the latest example of a trend that applies to women differently. Bumble founder Whitney Wolfe Herd responded to the piece on Instagram, saying she was “in founder mode for 10 years and got attacked for it every single day.”

“It is different for women, it’s just a fact.”

The hallmarks of founder mode are sweating the details and engaging with employees throughout the organization rather than only through direct reports to the CEO, Graham wrote, with Steve Jobs as the quintessential example. Founders who run their companies in founder mode continue to experiment and trust their instincts, others add. (The alternative is “manager mode,” Graham argues.) But female founders don’t have an example like Jobs to model themselves after and are “not afforded the same luxury of interacting with their teams in that way,” DaSilva says. And with few second chances, running on instinct carries a higher risk.

What might be seen as eccentricity and passion coming from a male founder often is seen as micromanagement from a female founder or a person of color. Employees sometimes respond poorly to harsh feedback coming from a female boss. An executive might bristle more if a female CEO bypasses them in favor of their reports. As Sara Mauskopf, cofounder and CEO of the childcare marketplace Winnie, says, “It’s not easy for a woman to act like Elon Musk and get away with it.” Instead, women have often been slotted into the manager role, from Sheryl Sandberg to the hires that followed her—the very style of leadership Graham rails against.

In conversations this week, founders referenced the spate of articles published over the past several years that were seen by some as “take-downs” of female founders as an example of why founder mode can be difficult for women. One in particular—the Verge story about Steph Korey’s leadership at Away, which featured her Slack messages to an overworked customer service team—came up for founders as they reflected. “Part of founder mode is sometimes you have to be really tough and work harder than you would at a traditional large company,” Mauskopf says. “Maybe she didn’t do it in the nicest, most nurturing way, but to me that was the real embodiment of founder mode.”

Ultimately, female founders feel pressured to squeeze into a narrow box—not a pushover, but not too aggressive. To do otherwise risks their reputations and the support of their boards and investors. Founder mode may not fit comfortably into that tiny space. Either the walls of the box have to break—or Silicon Valley needs to leave some room for women to craft a version of founder mode that works for their reality.

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Broadsheet is Fortune’s newsletter for and about the world’s most powerful women. Today’s edition was curated by Nina Ajemian. Subscribe here.

ALSO IN THE HEADLINES

- PR position. Nikki Haley, former UN ambassador and Republican presidential candidate, is joining Edelman as vice chair of the public relations firm's global public affairs consultancy. Haley, who endorsed Donald Trump for the presidential election, has not shared whether she will still be involved in politics. Axios

- In the driver’s seat. Daimler Truck has named Karin Radstrom as CEO, making her the second woman to currently lead one of Germany’s DAX companies. Radstrom was previously responsible for Mercedes-Benz Trucks; under her leadership, the division increased its profit margins even as it invested in zero-emissions vehicles. Bloomberg 

- Classic catalog. J. Crew, under CEO Libby Wadle, is bringing back its catalog, which the company discontinued in 2017 after 30 years of printing. The company filed for bankruptcy in 2020, but is now nearing record sales of $3 billion this year. Bringing back the catalog builds on the nostalgia that has drawn consumers to the brand. Wall Street Journal

- Diverting dollars. The Supreme Court is allowing the Biden administration to divert millions of dollars of family planning funding from Oklahoma after the state refused to refer patients to abortion information sources. The state said that the federal requirement conflicts with its own abortion bans. Washington Post

MOVERS AND SHAKERS

Fairchild Media Group, which includes fashion news brands like WWD, appointed Amanda Smith as chief executive officer. She was the company’s president.

CloudBees, a software development platform, hired Richa Gupta as chief human resource officer. Previously, she was CHRO at G-P.

Barclays appointed Cathy Leonhardt as global head of retail within investment banking. Most recently, she was a partner and co-head of consumer retail investment banking at Solomon Partners.

Paradies Lagardère, a travel retailer and restaurateur, appointed Marie Grimm as vice president of dining operations. Previously, she was head of culinary at OTG Management.

ON MY RADAR

Women are helping fuel F1’s rise. So why aren’t there any female drivers? Washington Post

The Minnesota progressive who worries Republicans more than Walz Wall Street Journal

A breast pump startup wants to give working mothers more of their day back Bloomberg

PARTING WORDS

“I don’t want to see like ‘Jamie Bond.’ You know? I want to see another badass.”

— Actress Jenna Ortega on wanting to see more female leads, rather than just spinoffs led by women