Masters of Scale Rapid Response: What the pandemic has cost women, w/Ellevest's Sallie Krawcheck
Jan 14, 2021
Sallie Krawcheck, co-founder and CEO of Ellevest, a fintech focused on women investors, discusses the pandemic's devastating impact on women's employment, revealing that one in five have left the workforce. She highlights the growing gender pay and wealth gaps while advocating for innovative financial solutions. Krawcheck emphasizes the need for businesses to take action and how startups can offer vital support. Her insights reflect on the systemic inequalities women face and the importance of community-driven financial empowerment.
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Pre-Pandemic Optimism
- In February 2020, Sallie Krawcheck felt optimistic about the future, similar to how she felt in 2007.
- This premonition of a crisis proved accurate as the pandemic unfolded.
Startup vs. Corporate Crisis
- Leading a startup during the 2020 pandemic presented unique challenges compared to the 2008 financial crisis.
- The isolation and health concerns added to the financial uncertainties.
Unexpected Investor Behavior
- Despite initial fears of client panic, Ellevest saw consistent investment inflows throughout 2020.
- Krawcheck attributes this to their commitment to answering client questions and providing support.