Speaker 1: Welcome the Money in Wealth with John O'Briant, a production
Speaker 1: of the Black Effect podcast network and iHeartRadio. Hey, this
Speaker 1: is John O'Brien This is Money and Wealth on the
Speaker 1: Black Effect Network. And this is my weekly ministry of finance.
Speaker 1: This week we're going to delve into the untapped power
Speaker 1: of women, women economic power, and how women change the world,
Speaker 1: specifically change the United States of America, which then in
Speaker 1: turn changes the world because the United States of America
Speaker 1: is the largest economy in the world and the soul
Speaker 1: superpower in the world. And I wrote a piece this
Speaker 1: week in Time magazine that really speaks to some of
Speaker 1: the double standards that are out there. The piece is
Speaker 1: entitled how women like Kamala Harris, Vice President saved and
Speaker 1: shaped America. And it's not about her per se, but
Speaker 1: it's inspired or triggered by undue criticism of her being
Speaker 1: a so called dee and I presidential candidates offensive. She's
Speaker 1: got a jd Degree, which is essentially a doctorate degree.
Speaker 1: She has been a US Senator, She's a sitting vice
Speaker 1: president in the biggest economy in the biggest country in
Speaker 1: the world. She hasn't embarrassed us. She's made US proud.
Speaker 1: She's been a US Senator, as I said, held offices
Speaker 1: throughout state of California, several offices, legal positions within government.
Speaker 1: It's just offensive. She's probably more qualified than most people
Speaker 1: who are sitting in the role of vice president. But
Speaker 1: and I cover the details in the piece of why
Speaker 1: I think that women are both underpreciated and have been
Speaker 1: such an incredible contributor to the US cultural scene in
Speaker 1: the economy. But there's a couple of things I wanted
Speaker 1: to drill down on in the piece. I encourage you
Speaker 1: to go to Time magazine and read the whole piece
Speaker 1: and share it with your posse, share it with your friends,
Speaker 1: share it with those you love. Let's level the playing
Speaker 1: field on ignorance and build houses of hope in their place.
Speaker 1: This is just ignorance, and it's also I think a
Speaker 1: sign of desperation by some who feel good Fiel, They've
Speaker 1: got to put somebody else down in order to elevate themselves.
Speaker 1: I'm rather focused on the facts I like, and it
Speaker 1: just happens. The folks I'm going to quote here are women.
Speaker 1: Melody Hopson says, I like math because it doesn't have
Speaker 1: an opinion. I'm going to quote my friend Stephanie Ruhl
Speaker 1: of MSNBC and CNBC and NBC who says that all
Speaker 1: we're trying to do is expand the table and add
Speaker 1: a chair, which of course builds more opportunity for everybody
Speaker 1: and doesn't diminish opportunity for anybody when you grow the
Speaker 1: economy and you expand participation in the economy. But in
Speaker 1: the article in the piece and Time magazine, which again
Speaker 1: I encourage you to download, read and share, I also
Speaker 1: cite in there that twenty five percent of American GDP
Speaker 1: today gross domestic product are women. That's right. The moral
Speaker 1: issues and ethical issues aside the thing that people call
Speaker 1: de NI diversity, equity and inclusion. They want to discount
Speaker 1: it and now call the sitting Vice president of DEE
Speaker 1: and I candidate, which is again highly offensive. Whatever that
Speaker 1: is you're referring to, whatever those women, the means and
Speaker 1: means and means of women out there who are working
Speaker 1: every day with people underneath them in leadership teams, I mean,
Speaker 1: how they're supposed to feel with the Vice President of
Speaker 1: United States is being discounted on merit. But that aside,
Speaker 1: this is twenty five percent of twenty five trillion dollars
Speaker 1: of economic activity in this country, and without women, this
Speaker 1: country would be an also ran country. We'd be the
Speaker 1: country that used to lead the world. We would be
Speaker 1: a third tier economy. In fact, six tray dollars versus
Speaker 1: twenty five percent of twenty five trade and give or take,
Speaker 1: it's larger than most countries GDP. It's larger than most
Speaker 1: countries economy. That's just the women portion. But I'm going
Speaker 1: to get in this podcast. I'm going to get into
Speaker 1: the details. I want anybody who wants to be inspired
Speaker 1: by women, for women to become a woman. If you're
Speaker 1: a young girl, you want a girl, I want you
Speaker 1: to know why and how you contribute and why you
Speaker 1: should be extraordinarily proud of what you've done with your
Speaker 1: parents have done, and to know the barriers that also
Speaker 1: sit in front of you. And that's seven from your
Speaker 1: at least your mother not so long ago. Did you
Speaker 1: know that in nineteen seventy two, not eighteen seventy two,
Speaker 1: nineteen seventy two, that a woman could not get a
Speaker 1: credit card, that's right. A woman could not get a
Speaker 1: bank account nineteen seventy two, not eighteen seventy two, That
Speaker 1: a woman could not get alone unless her husband co
Speaker 1: signed it. That's right, nineteen seventy two. And before I
Speaker 1: get into the sax and facts of how women are
Speaker 1: now charging into progress and prosperity, the economy, the culture,
Speaker 1: our education, big business, small business, and the incredible impacts
Speaker 1: that they had they've made and continue to make, and
Speaker 1: how we can't live without women. And by the way,
Speaker 1: without women, it'd be much less men as fewer men.
Speaker 1: But you will figure that out. Help that figure that
Speaker 1: tongue in cheese statement out. You figure that out later.
Speaker 1: But besides that, are not getting to that, because that
Speaker 1: is really the rainbow after the storm. I want to
Speaker 1: talk to you about how they got here and how
Speaker 1: interconnected we are, because it's both the troubling story and
Speaker 1: inspiring one. So oftentimes whites are pitted against blacks, or
Speaker 1: rich against poor, or different social strata printed against each other.
Speaker 1: And this is one of these unique stories where a
Speaker 1: blonde haired, blue white woman from a very well to
Speaker 1: do family is connected directly to the plight of African
Speaker 1: American men and women. Well, maybe for well to do,
Speaker 1: entigh educated backgrounds, but in all likelihoods, because of our
Speaker 1: history in this country, probably from a more modest background
Speaker 1: in the American South or wherever that these two cultures collided,
Speaker 1: two groups collided in the most beautiful way possible. So
Speaker 1: let me explain. In the early nineteen sixties, you had
Speaker 1: doctor King, Ambassador Andrew Young, my mentor Dorothy doctor Dorothy
Speaker 1: Hyge got wrestler soul correct, Scott King got wrestler. So
Speaker 1: who were in the civil rights movement I called the
Speaker 1: Second Reconstruction, and they made this incredible progress right and
Speaker 1: as a result of their efforts and others, John Kennedy President,
Speaker 1: then President Kennedy started something called a firmative action, and
Speaker 1: then President Johnson built on that, and really President Johnson
Speaker 1: became the civil rights It's president with Kennedy's assassination. But
Speaker 1: the man who actually giving credit what credits do, who
Speaker 1: codified affirmative action, really really baked it in, was a
Speaker 1: president named Nixon, very unassuming, assuming, very unlikely I think
Speaker 1: most people with the unlikely character to lock in rights
Speaker 1: for blacks, given that his candidacy for presidency was in
Speaker 1: some ways the antithesis of that. In some ways, he
Speaker 1: was running in a way that scared people of the
Speaker 1: progress of the sixties, and suggested that people should be
Speaker 1: afraid of the progress of blacks and other groups, and
Speaker 1: that somehow this was bad for business in America. And
Speaker 1: maybe he did a firmative action thing to show he's
Speaker 1: not a bad guy. I don't know. He did it
Speaker 1: actually a lot of things for women in the environment
Speaker 1: and or at least intention with intentionality African Americans. I'll
Speaker 1: give him credit. He codified affirmative actions in many ways
Speaker 1: created affirmative action, so it was created. It was inspired
Speaker 1: by both parties. But really, I'm gonna give credit again,
Speaker 1: Nixon really codified this. And so almost as soon as
Speaker 1: he did this, the courts sound familiar. The courts began
Speaker 1: to block it and said that the racial all the
Speaker 1: racial innuendos, and not even in the windows, the racial preferences,
Speaker 1: racial outlines, racial cticides were unconstitutional, lot not allowable, and
Speaker 1: so they start the court starts striking this down in
Speaker 1: the furtive action area. So it's oddly enough, blacks were
Speaker 1: the only ones enslaves in American soil. Blacks were clearly
Speaker 1: held back from various levels of progress tied to clear discrimination.
Speaker 1: It was obvious to everybody whould see it. That's why
Speaker 1: blacks were trying to get basic rights in the nineteen
Speaker 1: sixties that there were denied them for one hundred years
Speaker 1: since the eighteen sixties, and so this law was makes
Speaker 1: sense law to redress that. But then somebody tried to
Speaker 1: go to to a man, a white man tried to
Speaker 1: go to college in California, and it was one hundred
Speaker 1: slots available for this college program. Sixteen slots were set
Speaker 1: aside for essentially black people, and so there was eighty
Speaker 1: five percent of these slots available for the mainstream America.
Speaker 1: And he decided he wanted one of the sixteen slots.
Speaker 1: He wanted the other slots, he wanted the ones that
Speaker 1: was sent aside for the black people who had been
Speaker 1: previously deco denied. So he took the school to court
Speaker 1: and he won. He and this and other rulings, by
Speaker 1: the way, reminds you so much of what's going on
Speaker 1: with the Fearless Fund today. Again, black women in Atlanta
Speaker 1: trying to provide funding a very thinly funded area of
Speaker 1: venture capital for black women founders. I venture capital's like
Speaker 1: one percent venture capital goes to black founders, some crazy
Speaker 1: number like that. And the Fearless Phone was set up
Speaker 1: to modestly fund viable black businesses and somebody suit them
Speaker 1: to shut them down. Sounds familiar anyway, Back to the
Speaker 1: story that this happened in the nineteen seventies, so there's
Speaker 1: a delusi of affirmative action, and the court said, well,
Speaker 1: gender is a thing that we can allow. And I'm
Speaker 1: not sure this was intentional or not, but the folks
Speaker 1: closest to the door of economic opportunity from a gender
Speaker 1: perspective were not Black women or Latino women, or Asian
Speaker 1: women or Indian women. It was white women. Because white
Speaker 1: women were more socially acceptable, they were more socially plugged in,
Speaker 1: they were closer to the decision making and decision makers
Speaker 1: and the societal norms, and so white women were allowed
Speaker 1: to go through the door. Now, I think this is
Speaker 1: a good thing. I'll take progress by any means necessary.
Speaker 1: So I'm not saying this is bad at all. I'm
Speaker 1: saying all progress is good progress. But I'm saying that
Speaker 1: rainbows follow storms. Can I have a rainbow out of storm? First?
Speaker 1: That blacks had this storm, and it's unfortunate, once again
Speaker 1: pushed back against the very meager advances that they were
Speaker 1: allowed to make in the markets and in the economy.
Speaker 1: But the door that opened opened for women, and white
Speaker 1: women went through first. So this is now nineteen seventy two,
Speaker 1: when a white woman or any woman could not get
Speaker 1: a bank account or credit card, or get a loan
Speaker 1: unless her husband co signed it in By nineteen seventy
Speaker 1: four from revaction laws plus other laws that were codified
Speaker 1: in seventy four kicked the door open for women, and
Speaker 1: they start immediately making progress. Now. The drop of mic
Speaker 1: statement I'm gonna make here is that if that had
Speaker 1: not happened, and if we had not ended up with
Speaker 1: this additional GDP six trillion dollars plus, today we'd be
Speaker 1: an also ran nation. We'd be a third tier country,
Speaker 1: we'd be the country that used to leave the world.
Speaker 1: Because you've never had a superpower that wasn't the economic
Speaker 1: power at the same time in the history of the world.
Speaker 1: And today you need diversity in order to do that.
Speaker 1: You need inclusion in order to do that, which is
Speaker 1: why it's so silly to me that people are pushing
Speaker 1: back on diversity, equity and inclusion. That made a political piniata.
Speaker 1: So the phrase is almost dead because people have made
Speaker 1: it almost toxic to talk about it, but underneath the
Speaker 1: phrase are real people, real situations and demographics of this country.
Speaker 1: Please read the Business Plan for America, which I wrote,
Speaker 1: and just download it and get it to search my
Speaker 1: name and find it. So read the Time magazine piece
Speaker 1: that I just wrote on women's contribution to society, and
Speaker 1: read the Business Plan for America. And yes, read my
Speaker 1: book Business Financial Literacy for alls. I believe that financial
Speaker 1: literacy is a civil rights issue of this generation. And
Speaker 1: you know better, you do better. But these stats, in
Speaker 1: these facts today absolutely make it clear that you cannot succeed,
Speaker 1: continue to succeed as the nation without all of us contributing.
Speaker 1: And if folks trying to push folks back from progress.
Speaker 1: We were afraid of the future in the nineteen seventies
Speaker 1: nineteen sixties were successful in killing the d E and
Speaker 1: I of that day affirmative action. Where will we be again?
Speaker 1: We'd be a third world country, not third world country.
Speaker 1: We be a third rate country. Less six trillion dollars,
Speaker 1: and I mean six three dollars by itself is bigger
Speaker 1: than most economies in the world. That's bigger than eighty
Speaker 1: percent of all the economies of the world. Just that
Speaker 1: part just the women's part. So let's now get into
Speaker 1: and break down this six trillion dollars of GDP and
Speaker 1: talk about where it comes from. And then I'm gonna
Speaker 1: get in something really I think inspiring and exciting, which
Speaker 1: is talk about what women are actually doing in the
Speaker 1: economy and some of it's gonna blow your mind. Something
Speaker 1: I think is going to really shock you. So where
Speaker 1: does a GDP come from? Again? Twenty five trillion dollars
Speaker 1: for the whole country, six trillion dollars six point three
Speaker 1: trading for women. That's about labor force participation. First, women
Speaker 1: make them about forty seven percent of the workforce today,
Speaker 1: that's seventy four million women employee. Hello, can I get
Speaker 1: me a man? The median earnings for a women is
Speaker 1: about forty five thousand dollars annually, and there's still the
Speaker 1: gender pay gap, so women are being paid what men
Speaker 1: are being paid, but it's still an impressive progress from
Speaker 1: where we've come from. The aggregate earnings of women contribute
Speaker 1: to substantially contribute substantially the household incomes and economic stability,
Speaker 1: which I'm going to get to into a minute because
Speaker 1: it'll talk about another big impact about it have had
Speaker 1: beyond the six trillion dollars, beyond a twenty five percent,
Speaker 1: It's talk about entrepreneurship and small business and business ownership
Speaker 1: for a minute. Women own businesses accounts for forty two
Speaker 1: percent of all businesses in the US. You'ar that forty
Speaker 1: two percent. They generate one point nine trillion dollars in revenue,
Speaker 1: employ nearly nine million people. The growth of women owned
Speaker 1: businesses contribute to innovation, job creation, and economic diversification. Spending power.
Speaker 1: This is where it kicks in to something that's I
Speaker 1: talk about all the time, which is what drives the
Speaker 1: American economy. Women control the significant portion of household spending,
Speaker 1: estimated at about seventy to eighty percent. They make the
Speaker 1: decisions in the house This translates to a substantial influence
Speaker 1: on consumer markets, impacting industries from retail to healthcare. Women
Speaker 1: spending decisions drive demand for goods and services, affecting overall
Speaker 1: economic growth. And so what does this mean That they're
Speaker 1: making seventy to eighty percent of the decisions in the household.
Speaker 1: That means that if this economy is seventy percent of
Speaker 1: consumer spending, the biggest economy in the world. Right, So,
Speaker 1: my rich friends need my poor friends do better, if
Speaker 1: only to stay rich, because it's people making paying cardoals
Speaker 1: and paying rent and going to restaurants and going to
Speaker 1: get their hair done and nails done, renting cars, going
Speaker 1: on vacations, whatever, just normal stuff, going to CDs, going
Speaker 1: to Walmart. Whatever it is. By the way, they found
Speaker 1: the chairman of the CEO of Walmart. CEO of Walmart,
Speaker 1: duncc millan brought with the ford for my new book
Speaker 1: for sort of we're all so thanking for that. But
Speaker 1: if whatever it is you're doing, that's driving the US economy,
Speaker 1: and so women are twenty five percent of the whole economy,
Speaker 1: but they're also contributing to that seventy percent. Seventy percent
Speaker 1: of the seventy percent influencing decisions are being made around
Speaker 1: consumers spending and the deep women in participation in the
Speaker 1: workforce and business ownership contribute to economic resiliency. Diverse workforces
Speaker 1: leadership has improved organizational performance and innovation. Reducing gender disparities
Speaker 1: and pay and employment can lead to more equable growth
Speaker 1: and increase GDP. Translation, more diverse companies are more profitable.
Speaker 1: They're almost forty percent more profitable by the way, it's
Speaker 1: not even close. And you candgin to read more about
Speaker 1: that than my business plan for America. So now let's
Speaker 1: get into you know how and where women contribute. This
Speaker 1: is so cool. Put out your pen, get out your iPad,
Speaker 1: get out your iPhone, get out your Samsung, get out
Speaker 1: your Androy whatever it is, and write this stuff down.
Speaker 1: Want to be inspired. And this is for folks who
Speaker 1: say that women don't do enough, or can't do can't contribute,
Speaker 1: or they're not serious, or they don't know they're talking about.
Speaker 1: This is like, this is just ridiculously obvious. Check this out.
Speaker 1: Women have consistently hired enrollment rates in undergraduate and graduate
Speaker 1: programs compared to men. Now people say, okay, John, that's
Speaker 1: a generality. Okay, try this on for precise This is
Speaker 1: twenty nineteen numbers. So it's gotten better. Is that fifty
Speaker 1: seven percent of masters of sorry, fifty seven percent of
Speaker 1: bachelor's degrees women, sixty percent of master's degrees women, fifty
Speaker 1: three percent of doctorate degrees women. What do you think
Speaker 1: the vice president has as a JD. That's assistantly a
Speaker 1: doctorate degree. So this is a doctorate of law. So
Speaker 1: the majority of all these degrees are women. Labor force
Speaker 1: participation seventy seven percent of healthcare and social assistance workers
Speaker 1: women seventy seven percent. Seventy four percent of workers in
Speaker 1: educational services women. Women dominate certain sectors and industries such
Speaker 1: as healthcare, education, and social services. Let me get into that.
Speaker 1: Health care and social assistance seventy seven percent of workers
Speaker 1: in this space are women. Educational services seventy four percent
Speaker 1: are women. Now, these numbers are less impressive about to
Speaker 1: tell you, in government, but because it's elected and there's
Speaker 1: biases and sexism and hello, we just talked about the
Speaker 1: what people saying about the vice for the United States,
Speaker 1: for God's sakes, so think below that it's probably even
Speaker 1: harder to get a fair shot. But here these numbers
Speaker 1: are still impressive. Members of Congress twenty seven percent of
Speaker 1: seats in the House of Representatives, twenty four percent of
Speaker 1: the US Senate. I think that's pretty impressive for women.
Speaker 1: Thirty one percent of those in the state legislature are women.
Speaker 1: Twelve governors in the US as of twenty twenty three,
Speaker 1: pretty dangon impressive. Corporate leadership, eight point eight percent of
Speaker 1: CEOs are women. Board memberships in the Fortune five hundred,
Speaker 1: twenty eight percent of all board seats in the S
Speaker 1: and P five hundred as of twenty twenty three year women.
Speaker 1: That's an impressive number to me. Twenty eight percent entrepreneurship
Speaker 1: women own forty two percent of all businesses in this country.
Speaker 1: These are not small numbers. These any one of these
Speaker 1: numbers is the story in it of itself. Right again,
Speaker 1: I just want to just break all these stereotypes and
Speaker 1: this misinformation. I want you to download that article from
Speaker 1: Time magazine, share it with all of your friends, making
Speaker 1: a conversation tied into the Business Plan for America, which
Speaker 1: I also want you to downlo pull out. Get your
Speaker 1: copy of Financial Literacy for all so no one can
Speaker 1: deny you so that you're working your money money's not
Speaker 1: working to you, and share this information along with this podcast.
Speaker 1: Anybody who is telling you anything inaccurate about supposedly women's
Speaker 1: contribution and tying it to anything and saying anything that's
Speaker 1: even remotely derogatory or discounting, are something ridiculous, Like the
Speaker 1: vice president the United States is a Dee and I
Speaker 1: candidate for the presidency. That's just nothing but fear talking
Speaker 1: and desperation. In my opinion, and this is from somebody
Speaker 1: who has been an advisor Republican and a Republican Republican
Speaker 1: and Democratic presidents. I've been, I've been, I've advised Republican Democrats.
Speaker 1: I'm not partisan. I've been honored by five US president
Speaker 1: recognized by five US presidents, and I've known n I've
Speaker 1: got a security clearance. I mean, I've been in the House,
Speaker 1: as they say, the White House, in and out, and
Speaker 1: I'm telling you, you cannot do these jobs and not
Speaker 1: be super competent. And she's more qualified. So we're going
Speaker 1: to come back to small business because I think it's
Speaker 1: a really important point to make healthcare industry or women
Speaker 1: or account for thirty six percent of all position posts
Speaker 1: in the country, nurses women in CONSTUS over ninety percent
Speaker 1: of the nursing positions, and that amazing, over ninety cent.
Speaker 1: So ladies, young girls, ladies, people going to college, you
Speaker 1: go to high school, young girls coming up, people in
Speaker 1: the workforce. People are trying to reset your career. If
Speaker 1: you're trying to figure out what you can do where
Speaker 1: you want some job security and you want some you
Speaker 1: want to know that you know there's a good chance
Speaker 1: that you'll be able to be in a growing industry,
Speaker 1: even with artificial intelligence and all this stuff coming up,
Speaker 1: and you'll be treated with dignity of respect well. Nursing
Speaker 1: is definitely and it pays well too. Nursing is definitely
Speaker 1: a place that you should be thinking about leaning in
Speaker 1: healthcare executives. Women hold a significant percentage of leadership positions
Speaker 1: in the healthcare and healthcare organizations in the healthcare indust
Speaker 1: the legal professional we talked about the Vice President's Jade degree.
Speaker 1: Women represent over fifty percent of all law school students
Speaker 1: fifty percent judicial positions. Women hold approximately thirty five percent
Speaker 1: of all federal judge ships judicial seats. These are judges
Speaker 1: judge positions, federal position thirty five percent. Isn't that cool?
Speaker 1: Nonprofit sector, this is a sector where you know, this
Speaker 1: is part of what I do at Operation Hope, is
Speaker 1: I run a nonprofit. But it's really the exception, not
Speaker 1: the rle to see a guy in a personal color
Speaker 1: like me running a huge nonprofit like I do in
Speaker 1: Operation Hope. And I've got my for profit businesses as well,
Speaker 1: but my passion really is my nonprofit Operation Hope, which
Speaker 1: is the largest financial literacy organization in the country, and
Speaker 1: really the inspiration for my book Financial Literacy for All,
Speaker 1: which is our best seller and I want you to
Speaker 1: get a copy of it, and the inspiration for this
Speaker 1: podcast all came out came out of the Silver Rights movement.
Speaker 1: Third reconstruction from civil rights to civil rights. Financial literacy
Speaker 1: is the civil rights issue, the generation, the expansion across
Speaker 1: the country with our work, where the bigga's in the
Speaker 1: country and what we do. But I'm really the exception,
Speaker 1: not the rule. The vast majority people running nonprofits, to
Speaker 1: the tune of seventy two percent of nonprofit executives are women.
Speaker 1: I love it. I think seventy percent of the employees
Speaker 1: and Operation Hope, by the way, are women. As my
Speaker 1: own factoy and just as a complete aside, my mother
Speaker 1: when he to Smith got rest her so she transitioned
Speaker 1: the last year she's been promoted, gone all a better place.
Speaker 1: Jinnia Smith worked an hourly job thirty two years. McDonald
Speaker 1: Douglas Aircraft Bowing Aircraft. Was a seamstress, fabric a fabricator.
Speaker 1: She made the seats in the airplanes. You can pull
Speaker 1: up her story. She had not done videos together when
Speaker 1: he dismith is her name, pull up my name and
Speaker 1: her name, go to her memorial fund, Winnie Smith a
Speaker 1: memorial fund and read about her. She ended up building
Speaker 1: a net worth of about a million dollars. She had
Speaker 1: a wheel, She had affairs in order. Her credit score
Speaker 1: was eight fifty plus. Back in the at time where
Speaker 1: they had credit scores above a fifty. She had a
Speaker 1: maximum credit score it was a fifty four. She wasn't black,
Speaker 1: she was green. And she bought and sold seven homes,
Speaker 1: working in an hourly job, and ended with a net
Speaker 1: worth of a million dollars. So she just sprints to
Speaker 1: those that she loved and I was the executive. Ver
Speaker 1: stay proud of it. But it's that amazing what one
Speaker 1: woman can do, you know. And I don't know if
Speaker 1: a man could have done what my woman did, what
Speaker 1: my mother did. The fact that my dad was an
Speaker 1: amazing guy, but he didn't do what my mother did.
Speaker 1: My dad owned his own business and should have been
Speaker 1: originally the one that was building that was wealthy in
Speaker 1: the family. But he could make it, couldn't spend it
Speaker 1: he was making could he could make it, but could
Speaker 1: only spend it. He could he made the money, made
Speaker 1: a dollar and spent a dollar for emptied So the
Speaker 1: more money we made the broke over got and he wouldn't.
Speaker 1: He didn't understand that in order to not spend a
Speaker 1: yet to give it to my mother to invest in.
Speaker 1: And she was good at growing wealth. But they didn't
Speaker 1: work as partnerships because he didn't take her seriously. And
Speaker 1: so my dad broke, died broke, and my mother died wealthy.
Speaker 1: So there you go. My dad had a business, my
Speaker 1: mother working an out the job. It's about it really
Speaker 1: is about decisions you make in mindset that you have.
Speaker 1: And as you'll hear as I get into this, women
Speaker 1: have some natural advantages in starting certain businesses and approaching
Speaker 1: certain things like investing. Getting that in just a second, Okay,
Speaker 1: journalists forty one point seven percent of all newsroom employees
Speaker 1: journalists women, women hold leadership roles and major media organizations
Speaker 1: and outlets. Also sports, this is a real drop the
Speaker 1: mic forty four percent of all n Cuba athletic scholarships women.
Speaker 1: And you've been seeing women killing it in a number
Speaker 1: of sports, right, and things that you wouldn't necessarily assume
Speaker 1: to be in like well tendance of course, yes, golf
Speaker 1: now and even motorsports by sport, all the sports. You've
Speaker 1: seeing women in all of sports and just dominating wherever
Speaker 1: they set foot. And now Women's NBA is just absolutely
Speaker 1: killing it and making great strides. So let's now talk
Speaker 1: about women and succeeding in business after the pandemic. The
Speaker 1: number one group of businesses that succeeded or that grew
Speaker 1: be very specific here the biggest business growth since two
Speaker 1: thousand and four the surge of small businesses were black
Speaker 1: owned businesses, and of all groups within groups, it was
Speaker 1: black women. So black women really excelled amongst all groups
Speaker 1: and started businesses after the pandemic. And then after that
Speaker 1: came Latino women, a lot of LA businesses, and that's
Speaker 1: group now is creating this record number of businesses. And
Speaker 1: they tend to have focuses and the ability to focus
Speaker 1: on some of the subtleties that allow them to I
Speaker 1: think have an advantage over men as they pursue certain
Speaker 1: businesses and industries. So I talked about my mother being
Speaker 1: a good investor. There are studies now that have proven
Speaker 1: that women are actually under certain conditions, and I've explained
Speaker 1: that a second better investors. Well, actually the studies just
Speaker 1: say that better investors, but that's if you carve out
Speaker 1: sort of there's day trading thing, like if there there
Speaker 1: they trade that ten women. Women tend to trade less frequently,
Speaker 1: better at avoiding over confidence, which I think I think
Speaker 1: is really funny. So they are not egomaniacs like men are.
Speaker 1: They focus on goals and research and better performance in
Speaker 1: down markets. Specifically, what that means is women tend to
Speaker 1: remain calmer during market downturns, avoiding the panic selling that
Speaker 1: can harm long term returns. Their patience and discipline offer
Speaker 1: a result in better performance during volatile periods, and they
Speaker 1: tend to have a long more of a long term
Speaker 1: focus on investing well that that's going to give you
Speaker 1: better returns, and so that's debatable, but I'm just telling
Speaker 1: you that is the data is in that that uh
Speaker 1: that under many conditions where as a long term investor,
Speaker 1: women have been found to be better investors. And that's
Speaker 1: was my mother's strength that my father could have been
Speaker 1: it from benefited from. My dad was making the money
Speaker 1: the short term, and my mother would have been investing
Speaker 1: in the long term. So you want to you want
Speaker 1: to optimize everybody's strength and a relationship, and my dad
Speaker 1: just didn't do that. So are their businesses or their
Speaker 1: industries or their sectors where women are Just if you're
Speaker 1: listening to this, you're watching this and you want, you
Speaker 1: want to find a leg to stand on. You're now inspired,
Speaker 1: You're encouraged by what you've heard. You're a young girl
Speaker 1: coming up, You're a person going to college. You're a
Speaker 1: young woman start setting out in life, your young family,
Speaker 1: you're or you're maybe you're older in your life and
Speaker 1: you want to reset your life and you're looking for
Speaker 1: ways to give you a leg up on somebody else
Speaker 1: coming into the marketplace. What are businesses and occupant where
Speaker 1: you might have a strategic advantage as a woman. Well,
Speaker 1: here you go. Here are a few choices for you.
Speaker 1: The number one is not should not be a surprise
Speaker 1: to you. Nursing and healthcare Women tend to excel in
Speaker 1: nursing and healthcare due to their strong communication skills, their empathy,
Speaker 1: and natural nurturing instincts. These qualities are critical for patients
Speaker 1: and building trust with patients. Now, what did I say
Speaker 1: to you before tying us back to facts that over
Speaker 1: ninety percent of all nurses are women, and that you
Speaker 1: know there's also doctors and other categories. But over not
Speaker 1: evencent of nurses and women. And that is like being
Speaker 1: an engineer. It's like just a job for life if
Speaker 1: you do it right right, and I mean a well
Speaker 1: paying job, a good job of a higher upper middle
Speaker 1: class occupation. Here's another one for you, human resources. The
Speaker 1: HR field often benefit from women's strong interpersonal skills ability
Speaker 1: to manage conflict. I think some people would have a
Speaker 1: lot of they have a field date with this one
Speaker 1: building to manage conflent. Okay, whenever you generalize, you discriminate. Okay,
Speaker 1: but assuming that the dramas out of the situation and
Speaker 1: people are not making emotional decisions, and nobody's upsetting somebody
Speaker 1: just the I'm making neutral comments here about a person's
Speaker 1: natural strengths and weaknesses. A person a profiles natural strengths
Speaker 1: and weaknesses. So don't get into a fight with me
Speaker 1: about this, Okay. I make a lot of generalities that
Speaker 1: you might might disagree with. Like a man learns a
Speaker 1: love of woman he's attracted to, and the woman becomes
Speaker 1: more attractive than the man that she loves. I think
Speaker 1: that that's generally true. That she's my own philosophy. Shure,
Speaker 1: somebody would disagree with that. But you know, God did
Speaker 1: know that men were meander thoughs. That's white made women beautiful.
Speaker 1: We were attracted for visually first and then then we
Speaker 1: learned to love them and we love him for life,
Speaker 1: and they're the mother our children and all that kind
Speaker 1: of stuff. But I think women are deeper. I think
Speaker 1: women are are more intuitive. I think that women are
Speaker 1: natural feelers. I think women are we're all terminous to
Speaker 1: a higher power. Women are more mopent time connected with
Speaker 1: their emotions and there they're they're real feelings. And have
Speaker 1: you ever been in a room and a woman will
Speaker 1: say he ain't right or she ain't she ain't right,
Speaker 1: And you're like, well, Joe Anne, girl, why are you Susie?
Speaker 1: Why why are you talking about that person? You don't
Speaker 1: know that person. Then you find out later that the
Speaker 1: person did some horrible thing, right, like I just I
Speaker 1: don't know, it's just a feeling. Well, we're not human
Speaker 1: beings having a spiritual experience, but we're spiritual beings having
Speaker 1: a human experience. Energy matters, and women are better intuitively
Speaker 1: and reading energy. Because women create life. Without women, that
Speaker 1: be a lot less men. Women create life men don't.
Speaker 1: It just gives them a strategic advantage. So when I'm
Speaker 1: talking here like my in our household, my wife is
Speaker 1: amazing and she she can think with her left side
Speaker 1: of her brain. She runs service around people. She's extremely smart.
Speaker 1: But in our relationship, I created the house she turns
Speaker 1: into a home. She lets me be the thinker. She's
Speaker 1: a feeler and she's she's much better at the love piece,
Speaker 1: and I am the feeling piece. I learned from her,
Speaker 1: and I like to think that she learns from me
Speaker 1: in my in my area, I build wealth, she builds health.
Speaker 1: I'm the ego, she's the butterfly. Both are necessary. But
Speaker 1: everybody has a strength of a weakness and and and
Speaker 1: don't optimize your weakness, optimize your strength. Right, So, women,
Speaker 1: if you, if you will bear with me that women,
Speaker 1: I think because of this, their creators of life have
Speaker 1: natural instincts. Then I'm going to now give you some
Speaker 1: natural advantages. I'm gonna give you some occupations to speak
Speaker 1: to those. And yes, there are exceptions to every rule,
Speaker 1: and maybe this doesn't apply to you, so let's not
Speaker 1: get hung up on that, all right. So I mentioned
Speaker 1: human resources talking about the ability to manage conflict. That
Speaker 1: was funny to me. Understanding the uh. I think women
Speaker 1: are emotional geniuses, so that's the whole other thing, and
Speaker 1: understanding of emotional and social dynamics within an organization. Relations
Speaker 1: and communications. Women often excel in PR and communication roles
Speaker 1: do their proficiency in verbal and writ communication, as well
Speaker 1: as their ability to understand and connect with diverse audiences.
Speaker 1: Education and teaching. Now I covered that statistically earlier in
Speaker 1: the podcast, So just tie all this back to the
Speaker 1: statistics that gave you what many women thrive in educational roles,
Speaker 1: demonstrating patients, empathy, and strong organizational skills which are essential
Speaker 1: for managing classrooms and facilitating learning. I mean, isn't a
Speaker 1: classroom just an organized professional environment of raising a kid
Speaker 1: in your house. I mean your natural nurturer and a
Speaker 1: learner and a teacher used doing in a classroom. Let's
Speaker 1: see what else here. Event planning and management, Women's attention
Speaker 1: to detail organizational skills again, and ability to MULTITASKLA because
Speaker 1: I know some people who just can't multitask at all.
Speaker 1: But you know, okay, I'm going to give you credit anyway, ladies.
Speaker 1: But event planning and management around around even execution, tends
Speaker 1: to be an area where women excel more than men
Speaker 1: marketing and branding. Women often excel and marketing and branding
Speaker 1: due to their creativity, intuition, and ability to understand consumer behavior,
Speaker 1: which is crucial to developing effective campaigns. Nonprofit and social
Speaker 1: work have already covered this. This sector is dominated by women.
Speaker 1: There's a strong sense of empathy, dedication to social causes,
Speaker 1: and ability to engage with communities and their stakeholders and
Speaker 1: to build trust. Again, it's a natural asset interior design
Speaker 1: and fashion, And it sounds a little sexist, but I
Speaker 1: think it's actually true. My wife at a fashion house
Speaker 1: that was extraordinarily successful and it's a passion. She also
Speaker 1: very good interior design. The house houses. Again, I tend
Speaker 1: to create the house she turns into a home, and
Speaker 1: the house is banging, not because of me, because of
Speaker 1: her her interior design skills. Women frequently excel and creative
Speaker 1: industries like interior design and fashion due to their keen
Speaker 1: esthetic sense and the ability to understand and to protect trends.
Speaker 1: Doesn't mean that men can't, right, but this is just
Speaker 1: again and that's just sort of a natural advantage for women.
Speaker 1: I think this one's big. Therapy and counseling women often
Speaker 1: succeed in therapy and counseling roles, beveraging their empathy, their
Speaker 1: strong listening skills, and ability to build trust with clients
Speaker 1: to provide effective support. My mother in love, my mother
Speaker 1: in law, Penny Dalton, we call her Penny mom Amy Dalton,
Speaker 1: it's her real name. It's just a wonderful listener. It's
Speaker 1: so empathetic. She she listens to all the people in
Speaker 1: her life, mostly your daughter. She loves her daughter in Shadra,
Speaker 1: my wife. They're good friends. But she's just so anthetic.
Speaker 1: She's such a good listener. She'd be a great counselor
Speaker 1: or therapists. It's you know, what is a friend? I mean,
Speaker 1: was a therapist a paid friend? You know, for lack
Speaker 1: of a friend, we paid a live pound of couch.
Speaker 1: So that's a great career for people who have an
Speaker 1: interest in healing people and using their empathetic skills in
Speaker 1: a professional way. Corporate leadership and management, increasingly, women are
Speaker 1: recognized for their effectiveness in leadership roles often bring collaborative, collaborative,
Speaker 1: and inclusive management styles, strong decision making abilities, and a
Speaker 1: focus on ethical leadership And don't we need that today?
Speaker 1: I'm going to to end this podcast today with hopefully
Speaker 1: a bit of a little bit of inspiration for you
Speaker 1: as you go out on this journey. You know, you
Speaker 1: mean again, if somebody's messing with the vice Parsi of
Speaker 1: the United States, you can pretty much bet they've got
Speaker 1: messed with you too. But I take no revitamins. I
Speaker 1: don't know about you not. When as of my self
Speaker 1: esteem depends on your acceptance of me over to rounded
Speaker 1: through it, I decide I'm going to get to it.
Speaker 1: Success is going from failure to failure without loss of enthusiasm.
Speaker 1: I take no revitamins, you know. I just decide I'm
Speaker 1: going to succeed, and the haters are just going to
Speaker 1: make me better, that's all they're going to do. So
Speaker 1: I get up early, stay of later, work harder, and
Speaker 1: deliver more because I'm being discounted all the time, and
Speaker 1: that's fine. I love being underestimated. And I want you
Speaker 1: to know that your weakness, your so called weakness, is
Speaker 1: a strength and the facts bear that out. But the
Speaker 1: facts not going to set you free. Your personal philosophy
Speaker 1: is going to your mindset and when you're when you're
Speaker 1: going about your life, I want you to remember this poem. Now, this,
Speaker 1: this poem going to read to you, was actually part
Speaker 1: of an inaugural address from a man I met, and
Speaker 1: I really admire Nelson Mandela, President Nelson Mandela, South Africa.
Speaker 1: I wear his prison number on my risk all the time.
Speaker 1: If you see me. The bracelets on one of them
Speaker 1: is a Mandela's prison number where all the time, every day.
Speaker 1: And I really loved this man. It's a fantastic leader.
Speaker 1: And he read a poem. It wasn't trying to take
Speaker 1: credit for it, but he was given credit with this
Speaker 1: poem that he read in one of his president's sort dresses.
Speaker 1: But it's actually written by a woman, Marion Williamson. And
Speaker 1: the poem is our deepest fear. And I want you
Speaker 1: to listen to this, right, ladies, young ladies, girls, ladies
Speaker 1: in the making, ladies resetting your life, those who need
Speaker 1: to know that you're enough, Here you go. Our deepest
Speaker 1: fear is not that we are inadequate. Our deepest fear
Speaker 1: is that we are powerful beyond measure. It is our light,
Speaker 1: not our darkness, that most frightens us. We ask ourselves,
Speaker 1: who am I to be brilliant, gorgeous, talented and fabulous Ashley,
Speaker 1: who are you not to be? You are a child
Speaker 1: of God. You're playing small does not serve the world.
Speaker 1: There's nothing enlightened by it about shrinking so that other
Speaker 1: people won't feel insecure around you. We are all meant
Speaker 1: to shine, as children do. We were born to make
Speaker 1: manifest the glory of God. The glory of God that
Speaker 1: is within us is not just in some of us,
Speaker 1: it's in everyone. And as we let our own light shine,
Speaker 1: we unconsciously give other people permission to do the same.
Speaker 1: As we are liberated from our own fear, our presence
Speaker 1: automatically liberates others. Go change the world, Ladies, in many ways,
Speaker 1: you already have let your light shine, And remember that
Speaker 1: rainbows only follow storms. Cannot have a rainbow without a
Speaker 1: storm first. And anybody, step on your fears, step on
Speaker 1: your dreams, and make your fears manifest. Courage nothing more
Speaker 1: than your faith reaching through your fear. Displaying yourself as
Speaker 1: action in your life is from my books Love Leadership,
Speaker 1: one of my first books I've ever written. And you
Speaker 1: can't grow without legitimate suffering. So hopefully this has been
Speaker 1: a point of inspiration for you to know that you
Speaker 1: are enough and to step into your greatness and to
Speaker 1: make well, to be the change that I just articulated
Speaker 1: in this podcast for almost an hour. With you, be
Speaker 1: the change you want to see in the world. I'll
Speaker 1: see you at the finish line. And when you see
Speaker 1: me in the airport or you see me someplace, stop
Speaker 1: me and say I am somebody be and you will
Speaker 1: be the manifest destiny. Watch how you live your life
Speaker 1: and may be the only Bible anybody else reads. Don't
Speaker 1: let anybody get you down, and don't let anybody step
Speaker 1: on your dreams. As doctor King said in Memphis talking
Speaker 1: to the sanitation workers, you going to be a sanitation worker,
Speaker 1: be the best one that anybody's ever seen. And don't
Speaker 1: bend down or bend over. Nobody can ride your back.
Speaker 1: Stand up straight. Nobody can ride you back unless your
Speaker 1: bit over. Stand up straight and walk with pride. This
Speaker 1: is John O'Brien. This is the Money and Wealth podcast
Speaker 1: series on the Black Effect Network on Iheight Radio, and
Speaker 1: this is highlighting the untapped power of women, the economic
Speaker 1: power of women who've already changed the world and will
Speaker 1: do so again in the future. I'm out. Get the podcasts,
Speaker 1: Tell your friends, get the book Financial Lucy for all
Speaker 1: go to Operation Hope, download the Business Plan for America,
Speaker 1: and I'll see you around the country on the American
Speaker 1: Aspiration Tour, which is coming to a city near you.
Speaker 1: Check the dates online. Money and Wealth with John O'Brien
Speaker 1: is a production of the Black Effect Podcast Network. For
Speaker 1: more podcasts from the Black Effect Podcast Network, visit the
Speaker 1: iHeartRadio app, Apple Podcasts, or wherever you listen to your
Speaker 1: favorite shows.