WEBVTT - Black, Bold & Building: A New Blueprint for Capitalism ft. Dr. Rachel Laryea 0:00:00.000 --> 0:00:02.160 In so many ways. I think Dee and I heard 0:00:02.200 --> 0:00:05.720 it spoken this way really well at the Black Economic 0:00:05.920 --> 0:00:08.800 Alliance some that I went to recently. EI being really 0:00:08.840 --> 0:00:12.280 a consolation prize, it isn't the end goal for us 0:00:12.360 --> 0:00:15.080 by any means, and so I think it's really kind 0:00:15.080 --> 0:00:17.360 of forcing us, as we live through this moment to 0:00:17.480 --> 0:00:21.479 think about one all we have are ourselves and the 0:00:21.520 --> 0:00:23.599 places that we find ourselves in. It's like, how do 0:00:23.680 --> 0:00:25.439 we continue the work that so many of us have 0:00:25.520 --> 0:00:28.280 already been doing and now maybe without the support, but 0:00:28.440 --> 0:00:31.440 with certainly the scrutiny of this moment and how we're 0:00:31.480 --> 0:00:35.080 experiencing that, but I think that the impact can still happen. 0:00:40.240 --> 0:00:44.040 Hey, via FAM, Welcome back to the Brown Table. I 0:00:44.080 --> 0:00:47.720 am joined by a very special guest today who is 0:00:47.840 --> 0:00:50.959 somehow younger than me, but you just kind of get 0:00:50.960 --> 0:00:54.120 the feeling that they can be like president. Like I 0:00:54.120 --> 0:00:55.600 imagine this is kind of like what it's like to 0:00:55.640 --> 0:00:58.720 talk to Amanda Gorman, that poet whose parents have been 0:00:59.560 --> 0:01:01.680 raising to be the president. I just feel like I'm 0:01:01.720 --> 0:01:05.720 speaking to future Nobel Prize winner. It's fine. I'm very 0:01:06.000 --> 0:01:09.200 secure in myself, so I can appreciate her light and 0:01:09.240 --> 0:01:12.560 her light only shines on me, and I am so 0:01:12.680 --> 0:01:17.880 grateful to have doctor Rachel Laery on Brown Ambition today. 0:01:18.120 --> 0:01:19.880 Let me tell you about her. Not only does she 0:01:19.880 --> 0:01:22.119 have a brand new book that is coming out by 0:01:22.120 --> 0:01:24.679 the time you listen to this episode. You can probably 0:01:24.680 --> 0:01:26.800 pre order it already, but you should definitely go to 0:01:26.840 --> 0:01:29.720 the show notes and ground the link to purchase her book. 0:01:29.840 --> 0:01:32.520 And the book is called Now this is a huge title, 0:01:32.560 --> 0:01:35.720 but the book is called Black Capitalists, A Blueprint for 0:01:35.800 --> 0:01:39.360 what is Possible. It's coming out this June. It should 0:01:39.400 --> 0:01:42.240 be out soon by the time you're listening to this episode. 0:01:42.319 --> 0:01:47.920 But doctor, again, doctor Rachel lay is not just an author. 0:01:48.240 --> 0:01:52.200 Before she put together this incredible book, she created her 0:01:52.480 --> 0:01:55.040 really unique career path, which I'm going to dive into. 0:01:55.160 --> 0:01:58.680 I haven't met many women who've managed to carve out entrepreneurship, 0:01:58.840 --> 0:02:01.880 writing their own book and still working for a huge 0:02:02.040 --> 0:02:07.200 financial institution like JP Morgan Chase. But again, doctor Laier, 0:02:07.600 --> 0:02:10.160 you talked to me saying that yet you earned it. 0:02:11.560 --> 0:02:14.320 She cut her teeth on Wall Street at Goldman Sachs 0:02:14.440 --> 0:02:16.760 and then she went on to receive a dual PhD 0:02:17.000 --> 0:02:22.560 in African American Studies and socio cultural anthropology at Yale University. 0:02:22.720 --> 0:02:27.000 I've like heard of it cool. Her ethnographic research aims 0:02:27.040 --> 0:02:32.280 to understand nuanced forms of black participation in capitalist economies. 0:02:32.480 --> 0:02:35.360 She is a recipient of the National Science Foundation Research 0:02:35.440 --> 0:02:38.440 Fellowship Award, and she's also been name dropped by the 0:02:38.440 --> 0:02:43.040 Ford Foundation for her research, receiving an honorable mention. She's 0:02:43.120 --> 0:02:47.480 held an adjunct professor appointment at the NYU Stern Business School, 0:02:47.760 --> 0:02:51.800 and currently she's an asset wealth management researcher at JP 0:02:51.880 --> 0:02:53.920 Morgan Chase. And I don't know, just like in her 0:02:53.960 --> 0:02:57.560 spare time or whatever, she's founded this company. It's called Kellela, 0:02:57.800 --> 0:03:00.640 which is a lifestyle brand that's based in Brooklyn, where 0:03:00.720 --> 0:03:04.840 she curates bespoke West and East African travel experiences and 0:03:05.040 --> 0:03:09.040 has elevated the plantain to the platform. It's always deserved 0:03:09.080 --> 0:03:15.400 by creative Vegan. And she's here on Brown Ambition because 0:03:15.639 --> 0:03:19.799 duh have you heard her bio? If I'm not getting 0:03:20.000 --> 0:03:22.560 doctor lay on my podcast? What are we doing? What 0:03:22.560 --> 0:03:25.560 are we doing wrong? Brann and bish Well, welcome to 0:03:25.600 --> 0:03:28.760 the show, and congratulations on all of these milestones in 0:03:28.800 --> 0:03:29.360 your career. 0:03:29.919 --> 0:03:33.079 Oh many, Thank you so much. That was such a beautiful, 0:03:33.120 --> 0:03:36.760 gracious intro. I appreciate it. It's awesome to be here in 0:03:36.840 --> 0:03:37.280 chow Now. 0:03:37.320 --> 0:03:39.160 I think what's more important for BA fan to know 0:03:39.280 --> 0:03:41.640 is that she's actually at her brother's house right now 0:03:41.720 --> 0:03:45.000 in the Midwest, babysitting for her three year old and 0:03:45.000 --> 0:03:47.600 one year old? Is it niece and nephew. Yes, yes, 0:03:48.320 --> 0:03:50.160 what a good auntie. We love it. 0:03:52.160 --> 0:03:54.400 Listen, I gotta be gotta show up. 0:03:54.440 --> 0:03:56.280 They got to show you from Brooklyn. They said you 0:03:56.320 --> 0:03:57.320 better get on over here. 0:03:59.480 --> 0:04:02.960 So it has been a whirl end. But so happy 0:04:03.000 --> 0:04:04.560 to have this moment to talk with you. 0:04:05.080 --> 0:04:07.640 Yeah, okay, So God, Like, where do we start? I 0:04:07.640 --> 0:04:10.160 guess before we get into the book black capitalist, I 0:04:10.160 --> 0:04:13.560 want you to define it for me, black capitalists, because 0:04:13.560 --> 0:04:15.840 I think I'm someone who I can talk about capitalism 0:04:15.880 --> 0:04:19.040 and capitalists. I have an uncle who's like, I'm a capitalist, 0:04:19.080 --> 0:04:21.240 so I'm voting for Trump. We don't want to go there, 0:04:21.360 --> 0:04:24.600 but black capitalists, Like, why do those two words together 0:04:24.760 --> 0:04:25.599 make me feel weird? 0:04:26.520 --> 0:04:30.760 Exactly? And it's often the case that many people think 0:04:30.880 --> 0:04:34.880 of the term black capitalists as oxymeeronic, and so much 0:04:34.880 --> 0:04:37.240 of the reason for that is when you look at 0:04:37.240 --> 0:04:42.080 the creation of American capitalism and black people through the 0:04:42.120 --> 0:04:47.000 implementation of legalized slavery. We built this capitalist system, but 0:04:47.120 --> 0:04:50.200 we're never really allowed to be the beneficiaries of what 0:04:50.279 --> 0:04:53.160 we built. And so the idea of being a black 0:04:53.200 --> 0:04:56.880 capitalist presents for many an identity crisis. It's like, how 0:04:56.880 --> 0:04:59.400 can you hold affinity to a system that you've been 0:04:59.440 --> 0:05:06.080 excluded from systematically, And so oftentimes when people define capitalism itself, 0:05:06.240 --> 0:05:12.200 oftentimes that's very much kind of imbued with feelings of disgruntlement, 0:05:13.160 --> 0:05:17.720 a lot of financial anxiety, worry. People will talk about 0:05:18.120 --> 0:05:20.919 capitalism is the root of all evil, the white man's 0:05:20.960 --> 0:05:23.800 way of keeping us down, all of these different ways 0:05:23.839 --> 0:05:26.359 in which people will define it. But for me, I 0:05:26.360 --> 0:05:29.080 think what's really important, and part of the key argument 0:05:29.080 --> 0:05:32.200 of the book is if we take capitalism as a 0:05:32.240 --> 0:05:38.839 political or economic system whereby private actors engage in economic 0:05:38.920 --> 0:05:43.000 exchange for the purpose of yielding excess capital. In that sense, 0:05:43.160 --> 0:05:46.640 anyone can be a capitalist or a private actor, and 0:05:46.680 --> 0:05:52.440 that's both hopeful and also potentially problematic. Right hopeful in 0:05:52.480 --> 0:05:55.640 the sense that we kind of take away this racialized 0:05:56.440 --> 0:05:59.680 aspects that we have around who the capitalist is, who 0:05:59.680 --> 0:06:02.560 the labor is, and it kind of opens up new 0:06:02.600 --> 0:06:05.400 potentials around Okay, how can we use the tools of 0:06:05.400 --> 0:06:08.719 capitalism to create new outcomes outside of the ones that 0:06:08.760 --> 0:06:13.160 we're so familiar with, namely being within the black community 0:06:13.240 --> 0:06:16.839 in that labor position and experiencing the harms of capitalism 0:06:16.960 --> 0:06:20.720 so deeply, whether it be exploitation, extraction, etc. But then, 0:06:20.760 --> 0:06:22.760 of course we also know that when you look at 0:06:22.800 --> 0:06:25.960 the racial wealth gap, who has predominantly been the capitalist, 0:06:26.040 --> 0:06:29.160 who has predominantly been the beneficiary of capitalism has been 0:06:29.360 --> 0:06:32.920 white people. And so when you then take black and 0:06:32.960 --> 0:06:36.760 capitalists and you put it together overlaying that whole history 0:06:36.760 --> 0:06:38.919 that I kind of spoke to very quickly, then you 0:06:39.040 --> 0:06:42.679 have that kind of visceral emotional reaction of this doesn't 0:06:42.760 --> 0:06:45.919 quite sit right with me, you know, And so so 0:06:46.040 --> 0:06:47.600 much of the book and the work that I do 0:06:47.720 --> 0:06:50.440 is around Okay, let's unpack all of this and then 0:06:50.520 --> 0:06:52.760 let's get to a place of common ground and neutrality 0:06:52.800 --> 0:06:56.240 about what is capitalism defined. But then also what I'm 0:06:56.240 --> 0:06:59.560 offering about what black capitalists and what it means to 0:06:59.560 --> 0:07:03.200 also black capitalism, which is definitionally to be a black 0:07:03.200 --> 0:07:05.760 capitalist is to be someone who identifies as a black 0:07:05.800 --> 0:07:11.360 person and strategically participates in the economy with the intent 0:07:11.640 --> 0:07:14.480 to produce social good. So what's really important about that 0:07:14.600 --> 0:07:18.920 definition is not just about how can you create profitability 0:07:18.960 --> 0:07:22.760 by strategically positioning yourself and participating in the economy, but 0:07:22.800 --> 0:07:26.080 it is that other really important part around social good 0:07:26.120 --> 0:07:29.080 and that kind of consistent orientation to community, which is 0:07:29.120 --> 0:07:32.000 what allows us to then rethink how the tools of 0:07:32.000 --> 0:07:35.560 capitalism can be used outside of what we've seen them 0:07:35.600 --> 0:07:39.560 be used for. And that's similar to black capitalism, which 0:07:39.560 --> 0:07:43.680 is very' agnostic, how anybody, private actors, individual are collective 0:07:43.920 --> 0:07:48.119 can resituate themselves within capitalism with the intention to create 0:07:48.160 --> 0:07:51.000 social good. If you take a framework like black feminism, 0:07:51.280 --> 0:07:53.480 you don't have to be a black person to practice 0:07:53.520 --> 0:07:57.880 black feminism, but it is kind of an orientation around 0:07:58.040 --> 0:08:01.240 how you show up in support of others in supportive 0:08:01.320 --> 0:08:04.600 community as well, and creating a distinction just in that 0:08:04.720 --> 0:08:07.520 kind of example, to be a black feminist versus practicing 0:08:07.520 --> 0:08:10.840 black feminism. Similar concept to how you can someone can 0:08:10.880 --> 0:08:14.440 be a black capitalist, but then also collective can practice 0:08:14.440 --> 0:08:15.360 black capitalism. 0:08:15.640 --> 0:08:19.480 So that's all really interesting. I'm wondering, like, when you 0:08:19.520 --> 0:08:22.400 talk about the importance of creating social good to be 0:08:22.480 --> 0:08:25.720 a black capitalist? Does that social good need to impact us? Like? 0:08:26.280 --> 0:08:29.920 Is it what the intent that seems important here? It's 0:08:29.960 --> 0:08:36.000 like who who in the social structure? Are we like benefits? Yes? Sure? So? 0:08:36.200 --> 0:08:39.520 Is this as simple as like, I mean, in an 0:08:39.600 --> 0:08:44.000 ideal world where you've got a profitable business and then 0:08:44.040 --> 0:08:47.120 you set up a nonprofit arm to then give back 0:08:47.160 --> 0:08:50.960 into the community or fund grants for other entrepreneurs? Is 0:08:51.000 --> 0:08:55.840 it dedicating a percentage of profits to certain causes that 0:08:55.920 --> 0:08:59.880 benefit our communities? Is that the ideal that you're hoping 0:09:00.120 --> 0:09:01.920 this book can help shine a light on. 0:09:02.120 --> 0:09:04.520 Yes, in some ways. And I think what's so beautiful 0:09:04.600 --> 0:09:08.400 about black capitalism is that it can be experienced and 0:09:08.480 --> 0:09:11.280 practiced in so many different ways. Just as we know 0:09:11.520 --> 0:09:14.840 blackness is not a monolith and it's not a monolithic experience, 0:09:14.880 --> 0:09:18.880 the practice of black capitalism is also not a monolithic experience. 0:09:18.920 --> 0:09:21.760 And so the definition that I offer in the framework 0:09:21.880 --> 0:09:25.040 is robust enough to account for all the different positions 0:09:25.080 --> 0:09:27.560 that we might sit in in our daily lives. Some 0:09:27.640 --> 0:09:30.440 of us might be in corporate America, like myself, And 0:09:30.480 --> 0:09:33.120 so the questions then become within the seat that I'm 0:09:33.160 --> 0:09:37.400 seated in what are the opportunities or the access channels 0:09:37.440 --> 0:09:40.239 that I can create for other folks in the institution 0:09:40.520 --> 0:09:42.880 outside of it, And I can give examples for how 0:09:42.880 --> 0:09:45.400 we might think about that. If you're an entrepreneur, some 0:09:45.480 --> 0:09:47.960 of what you just described those are beautiful examples of 0:09:48.000 --> 0:09:52.920 how you can reposition yourself within the economy to still 0:09:53.200 --> 0:09:56.440 create a profitable business. But then also keeping in mind 0:09:56.480 --> 0:09:58.439 it goes hand in hand how you create social good 0:09:58.480 --> 0:10:00.720 as well. I think it's the case that we all 0:10:00.880 --> 0:10:04.360 have a slice of this capitalist pie, and it's really 0:10:04.440 --> 0:10:07.320 up to us how we're going to use it and 0:10:07.360 --> 0:10:10.320 how we're also going to feed each other in that 0:10:10.440 --> 0:10:13.400 kind of experience, And so regardless of where you sit, 0:10:13.559 --> 0:10:15.760 there's always kind of a part to play. And I 0:10:15.800 --> 0:10:19.800 think that it's less about adjudicating when is enough or 0:10:19.840 --> 0:10:22.680 how much social goods should I do, but really from 0:10:22.720 --> 0:10:24.800 just having it as a mindset kind of like a 0:10:24.840 --> 0:10:27.719 way of life in terms of this is an ethos, 0:10:27.880 --> 0:10:30.600 a kind of consistent practice and orientation that I have 0:10:30.720 --> 0:10:33.880 around always asking myself how can I be in service 0:10:33.920 --> 0:10:37.679 of community, which also requires an abundance mindset, a belief 0:10:37.679 --> 0:10:40.640 and a trust in each other and that we can 0:10:40.720 --> 0:10:44.360 really only get free through being in community with each other. 0:10:44.440 --> 0:10:47.280 And so those are the kind of core building blocks 0:10:47.280 --> 0:10:50.800 to then really practice this and create effective change in 0:10:50.840 --> 0:10:51.480 the long term. 0:10:51.520 --> 0:10:54.400 I mean, it just sounds very similar to the ethos 0:10:54.400 --> 0:10:57.199 of Brown ambition, which is we're not just building wealth 0:10:57.280 --> 0:11:00.280 because it's fun to get rich. It's how can we 0:11:00.400 --> 0:11:04.439 use our economic power to influence change, to bring about change, 0:11:04.480 --> 0:11:08.720 to protect ourselves, to protect our families, to build generational wealth, 0:11:08.760 --> 0:11:11.319 all those things. There's really like an empowerment element to it, 0:11:11.480 --> 0:11:15.240 which sometimes I think you need because capitalism, ambition, these 0:11:15.280 --> 0:11:18.200 are two words that tend to drop feelings of like, oh, 0:11:18.400 --> 0:11:21.080 like you're just selfish, you're greedy, you're looking out for 0:11:21.160 --> 0:11:24.319 number one. But it's like, no, let's look at these 0:11:24.400 --> 0:11:27.840 terms and show that they can bring about good. It 0:11:27.880 --> 0:11:30.760 just matters like who's controlling it. As long as you 0:11:30.840 --> 0:11:34.520 control the wealth, you can have so much influence. One 0:11:34.559 --> 0:11:36.080 of the things that I when I was kind of 0:11:36.080 --> 0:11:39.360 reading through some of I know you talk to black 0:11:39.400 --> 0:11:41.880 professionals who are working in corporate America, And one of 0:11:41.880 --> 0:11:44.839 the stories that resonated with me was the guy who said, 0:11:45.280 --> 0:11:47.200 and he works in banking, I believe and he said 0:11:47.200 --> 0:11:49.319 that he feels like he's a spy a little bit, 0:11:49.800 --> 0:11:54.120 like they think he's one of them. And by one 0:11:54.160 --> 0:11:56.280 of them, I mean like we's kind of code switching. 0:11:56.440 --> 0:11:59.120 We all do that. We show up to work, we talk, 0:11:59.240 --> 0:12:02.760 we talk real good, and we make everybody feel good 0:12:02.360 --> 0:12:04.640 that we have a black person on their team, but 0:12:04.720 --> 0:12:07.920 like never exactly like owning our blackness necessarily because that 0:12:08.000 --> 0:12:11.160 might be a little threatening, but just being there in 0:12:11.200 --> 0:12:13.760 the mix. But at the same time, he's like, but 0:12:13.880 --> 0:12:16.240 I've never forgotten who I am. I know why I'm here. 0:12:16.600 --> 0:12:18.800 And it just resonated with me so much because in 0:12:18.840 --> 0:12:21.160 my corporate career, when I got to a position where 0:12:21.200 --> 0:12:23.840 I was hiring someone, oh yeah, I mentioned that I 0:12:23.880 --> 0:12:26.080 work with someone whose last name is Lia. I know 0:12:26.120 --> 0:12:29.320 another LIAI shout out to Brittany, and she was the 0:12:29.360 --> 0:12:32.200 first reporter that I was ever able to hire. Once 0:12:32.240 --> 0:12:35.000 I became a manager, it mattered to me that my 0:12:35.040 --> 0:12:37.600 first hire was a black woman. I went on to 0:12:38.040 --> 0:12:40.880 get the privilege to put together a team that ended 0:12:40.960 --> 0:12:43.800 up including like I think, thirty staff and a bunch 0:12:43.840 --> 0:12:47.280 of contractors, and I used to say to myself, I'm 0:12:47.280 --> 0:12:50.839 like a spy, Like nobody knows I'm taking all the 0:12:50.920 --> 0:12:53.120 money that they're giving me for these hires, and I 0:12:53.160 --> 0:12:55.800 am going and finding people of color and women like 0:12:56.760 --> 0:13:00.640 and I just I love that there. I want more 0:13:00.679 --> 0:13:05.120 of us to think of it that way, all here undercover, 0:13:05.440 --> 0:13:09.200 to create that change in incremental ways, like from within. 0:13:10.080 --> 0:13:16.040 Yeah, I love that. Because also after I graduated from college, 0:13:16.280 --> 0:13:18.120 you know, so many of my peers went on to 0:13:18.240 --> 0:13:23.000 more like altruistic careers, and I faced quite a bit 0:13:23.040 --> 0:13:25.640 of criticism around like, oh, you're going to Goldman Sachs, 0:13:25.800 --> 0:13:27.959 like that's the belly of the beast, Like what's she 0:13:28.040 --> 0:13:30.000 going to go do there? You know? And also coming 0:13:30.040 --> 0:13:33.360 from my undergraduate studies which was seeped in social and 0:13:33.400 --> 0:13:37.800 cultural analysis and really understanding the harms of these structures, 0:13:38.040 --> 0:13:41.560 generally capitalist structures. But for me, it's like it really 0:13:41.640 --> 0:13:44.640 matters the orientation that you have when you're in those spaces, 0:13:44.720 --> 0:13:48.160 because surely, yes, you can exist in these corporate spaces 0:13:48.200 --> 0:13:51.760 that people have all of this criticism around, But if 0:13:51.800 --> 0:13:55.680 you have these subversive intentions like alex as you mentioned, 0:13:55.840 --> 0:13:58.480 that makes a difference. It's like the how and the 0:13:58.520 --> 0:14:01.880 why can really shift outcomes. Because I think for him, 0:14:01.880 --> 0:14:04.199 what was so important was like how can he channel 0:14:04.280 --> 0:14:07.920 resources to his community by being at the firm that 0:14:07.960 --> 0:14:10.559 he was, similar to how you're thinking about how can 0:14:10.600 --> 0:14:13.920 I create a pipeline of access for people to have 0:14:14.000 --> 0:14:17.080 space in these spaces where otherwise maybe they wouldn't be 0:14:17.720 --> 0:14:20.520 considered or overlooked or whatever it is. And so I 0:14:20.520 --> 0:14:22.960 think when you shift our mindset, it's like, Oh, there's 0:14:23.160 --> 0:14:26.600 a whole new set of opportunities I think that arise 0:14:26.640 --> 0:14:29.040 in that, and that to me is like the efficacy 0:14:29.080 --> 0:14:31.080 and the potential to create new outcomes. 0:14:31.680 --> 0:14:34.480 Yeah, especially at a time like this where that's like 0:14:35.040 --> 0:14:39.480 DEI attacked, it almost makes me regret the resurgence or 0:14:39.520 --> 0:14:43.200 the surge of DEI as a term as an institution, 0:14:43.400 --> 0:14:46.360 like as a categorization in corporate America, like in the 0:14:46.360 --> 0:14:49.160 summer of twenty twenty, and all of a sudden, it's like, oh, 0:14:49.240 --> 0:14:52.080 we're going to show that we are on board by 0:14:52.120 --> 0:14:55.920 creating these DEI rolls or teams and initiatives. It almost 0:14:55.960 --> 0:14:57.960 like gave a target. So the way that we were 0:14:58.000 --> 0:14:59.680 kind of being subversive and like the way that I 0:14:59.760 --> 0:15:02.920 was being sneaky about it. I'm practicing d I in 0:15:02.920 --> 0:15:05.000 my hiring, but I ain't telling nobody is that, you 0:15:05.040 --> 0:15:07.240 know what I mean? But it's like when we name it, 0:15:07.320 --> 0:15:09.080 we kind of give them a target. And I think 0:15:09.080 --> 0:15:11.320 that's what's happening. And so you're seeing now it's like, well, 0:15:11.360 --> 0:15:13.840 let's just get rid of all these DEI programs. And 0:15:13.920 --> 0:15:16.080 I think that, you know, what we're talking about is 0:15:16.080 --> 0:15:18.400 like a reminder that if you're still like we're a 0:15:18.480 --> 0:15:21.440 lot of people were in corporate like, you can still 0:15:21.440 --> 0:15:23.840 have an impact even if you're not under that umbrella, 0:15:23.920 --> 0:15:27.760 maybe even more so because we can sneak by. Yes, yes, 0:15:28.200 --> 0:15:33.200 you know that's the Beverly Hills cop know what's the 0:15:33.240 --> 0:15:34.200 emission impossible? 0:15:35.160 --> 0:15:38.680 Oh? Is that one? 0:15:38.880 --> 0:15:44.000 No, I don't know. James Bond, that's okay. Maybe if 0:15:44.040 --> 0:15:46.680 Lushana Lynch was the new Black James Bond like she 0:15:46.760 --> 0:15:48.720 should have been, oh I would know. 0:15:51.560 --> 0:15:54.720 But I agree with you. I think it creates and 0:15:54.720 --> 0:15:56.680 in so many ways I think d E and I 0:15:56.680 --> 0:15:58.680 I heard it spoken this way really well at the 0:15:59.280 --> 0:16:03.040 Black Economic Alliance Summit that I went to recently. EI 0:16:03.160 --> 0:16:06.720 being really a consolation prize. It isn't the end goal 0:16:06.760 --> 0:16:09.400 for us by any means, and so I think it's 0:16:09.440 --> 0:16:11.600 really kind of forcing us as we live through this 0:16:11.720 --> 0:16:15.760 moment to think about one, all we have are ourselves 0:16:15.960 --> 0:16:18.160 and the places that we find ourselves in. It's like, 0:16:18.200 --> 0:16:20.000 how do we continue the work that so many of 0:16:20.080 --> 0:16:22.920 us have already been doing and now maybe without the support, 0:16:23.000 --> 0:16:26.080 but with certainly the scrutiny of this moment and how 0:16:26.080 --> 0:16:29.200 we're experiencing that. But I think that the impact can 0:16:29.280 --> 0:16:32.560 still happen. When I first joined JP Morgan Chase, I 0:16:32.760 --> 0:16:35.760 was the Community Impact team, and that team was responsible 0:16:35.880 --> 0:16:38.920 for the thirty billion dollar racial equity commitment that came 0:16:38.960 --> 0:16:42.120 out in twenty twenty after George Floyd's murder, where the 0:16:42.160 --> 0:16:45.120 firm made very strong commitments around how it was going 0:16:45.160 --> 0:16:47.840 to really try to close this racial wealth gap. I 0:16:47.960 --> 0:16:50.600 was on that team starting in twenty twenty two and 0:16:50.960 --> 0:16:54.600 really kind of a watch from the inside the kind 0:16:54.600 --> 0:16:57.440 of process and the journey of a Dee and I 0:16:57.680 --> 0:17:01.280 effort and initiative go invoke and out of vogue within 0:17:01.320 --> 0:17:04.679 a period of time. And that was so striking to 0:17:04.760 --> 0:17:06.720 me to see that to be a d and I 0:17:06.840 --> 0:17:10.560 practitioner as a black woman, you know, really in service 0:17:10.680 --> 0:17:14.080 of our black and brown clients, and what that moment meant. 0:17:14.240 --> 0:17:17.520 Layer on the affirmative action ruling that came out around 0:17:17.600 --> 0:17:20.520 that period as well, and it kind of really shifted, 0:17:20.800 --> 0:17:25.679 not even just kind of the internal stakeholder conversations that 0:17:25.760 --> 0:17:28.120 were happening around the work that we were doing, which 0:17:28.160 --> 0:17:31.359 was already challenging because here you are trying to create 0:17:31.480 --> 0:17:34.879 new ways of working within the business, but now there's 0:17:35.000 --> 0:17:39.080 this kind of question around legal prudence and due diligence 0:17:39.160 --> 0:17:41.800 to make sure that we're not making a firm liable 0:17:41.880 --> 0:17:45.800 to anything created another layer of complexity, and that prompt 0:17:45.880 --> 0:17:48.280 in my own kind of professional journey of what are 0:17:48.359 --> 0:17:51.399 other places I could find myself in? Ultimately wound up 0:17:51.520 --> 0:17:54.679 in ass wealth management. The work doesn't end. It's like 0:17:54.840 --> 0:17:57.520 I spend a lot of my time still thinking about 0:17:57.560 --> 0:18:02.200 how can I create new outcomes for our black clients 0:18:02.280 --> 0:18:03.840 within the wealth management space. 0:18:04.480 --> 0:18:06.720 A couple of things I want to talk about. What's 0:18:06.760 --> 0:18:09.320 your take on a couple of things? One in the 0:18:09.400 --> 0:18:11.480 news right now? Of course, in my mind, I'm like 0:18:11.520 --> 0:18:14.359 the met Gala to display I feel like of black 0:18:14.400 --> 0:18:17.639 capitalism at work with the theme this year, and I 0:18:17.680 --> 0:18:19.679 would love to get your take on it. Do you 0:18:19.720 --> 0:18:22.359 think that that type of initiative is helpful? You have 0:18:22.480 --> 0:18:28.960 like this largely white fashion industry who's obviously profited off 0:18:29.000 --> 0:18:32.879 of our culture in so many ways, but still you 0:18:32.920 --> 0:18:36.240 see so many few designers of color reach these prominent 0:18:36.359 --> 0:18:40.760 levels as other mainstream brands and get as much access 0:18:40.960 --> 0:18:44.440 to the resources as other brands and other fashion houses. 0:18:44.480 --> 0:18:48.000 But then you have Vogue kind of centering blackness in 0:18:48.240 --> 0:18:52.640 the theme for this year, and Black Dandyism really celebrating 0:18:52.880 --> 0:18:57.800 tailoring and the influence of a very specific time in 0:18:57.800 --> 0:19:01.280 black culture in the fashion landscape, and which has then 0:19:01.680 --> 0:19:05.240 given them this huge platform to spotlight black designers and 0:19:05.520 --> 0:19:08.399 really celebrate that work. What's your perspective on that. 0:19:08.680 --> 0:19:11.680 Yeah, I mean, at the end of the day, I'm 0:19:11.680 --> 0:19:14.840 always going to be in supportive of black people getting 0:19:15.359 --> 0:19:19.000 the visibility they deserve the money. But at the same time, 0:19:19.560 --> 0:19:23.440 I think it's important that we not rely on these 0:19:23.840 --> 0:19:28.720 white institutions to be the savior or the means by 0:19:28.760 --> 0:19:33.280 which we create access for ourselves. It's like great, taking 0:19:33.320 --> 0:19:36.160 all the resources in whatever manner they come from, who 0:19:36.240 --> 0:19:39.200 they come but I think what's important is, like, especially 0:19:39.280 --> 0:19:41.800 a lot of those moments, they don't have the level 0:19:41.840 --> 0:19:47.000 of consistency or sustainability. It becomes a one and done unfortunately, 0:19:47.320 --> 0:19:49.960 or it becomes something of the zeitgeist. And so all 0:19:50.000 --> 0:19:53.160 of the more reason that when we're talking about sustainability 0:19:53.200 --> 0:19:56.199 and what's really going to hold this down in the 0:19:56.320 --> 0:19:58.800 long term, it really needs to come from us. And 0:19:58.880 --> 0:20:01.840 so I think it's always how can we anchor on 0:20:02.240 --> 0:20:04.840 the tools that we can use for ourselves, create those 0:20:04.960 --> 0:20:07.479 kind of systems for ourselves. And sure it's like if 0:20:07.520 --> 0:20:11.440 folks want to shine a light amazing, especially because those 0:20:11.440 --> 0:20:15.400 spaces have capital and excess and all these other privileges 0:20:15.440 --> 0:20:17.399 that come with that. It's like leverage it. I'm all 0:20:17.440 --> 0:20:20.719 about how can we leverage and service of our community. 0:20:20.880 --> 0:20:24.000 And so I think keeping that kind of maybe sobering 0:20:24.040 --> 0:20:26.880 perspective in mind that we never know how long those 0:20:26.880 --> 0:20:29.320 opportunities will last. But what we do know is we 0:20:29.400 --> 0:20:30.760 have us at the end of the day, and so 0:20:30.760 --> 0:20:32.439 we have to make sure that we're locked in on 0:20:32.480 --> 0:20:35.320 that and we're good and anything else is I think 0:20:35.359 --> 0:20:36.199 additive to that. 0:20:36.520 --> 0:20:39.639 Yeah, all right, target, My perspective is like we just 0:20:39.720 --> 0:20:41.600 all got it, and I don't even think we needed 0:20:41.600 --> 0:20:43.960 Al Sharpton, but like shout out out for you know, 0:20:44.040 --> 0:20:47.119 doing reverend for putting his stamp on it. But this 0:20:47.359 --> 0:20:51.280 like national agreement among black consumers that we don't f 0:20:51.320 --> 0:20:53.639 with no MO. Do you talk about other examples of 0:20:53.680 --> 0:20:55.919 these types of like collective boycotting and how we can 0:20:55.960 --> 0:20:59.879 actually have an impact. You think about lunch counter boycotts 0:20:59.880 --> 0:21:02.800 and obviously the boycotts during the Civil rights movement, But 0:21:03.080 --> 0:21:05.200 is this an example of how we can be black 0:21:05.240 --> 0:21:06.520 capitalists and using it? 0:21:06.600 --> 0:21:10.639 Yes, one thousand percent. I think what's so important is 0:21:10.680 --> 0:21:15.719 that oftentimes when we collectively think about executing our agency 0:21:16.040 --> 0:21:19.080 or the moments we feel most stagantic is when we're voting. 0:21:19.760 --> 0:21:23.200 And that's not something that only needs to happen every 0:21:23.240 --> 0:21:26.919 four years, every two years, whenever there's an election. We 0:21:27.040 --> 0:21:30.600 vote every day with our wallet, every single day, multiple 0:21:30.680 --> 0:21:34.000 times a day, and that is as powerful a vote, 0:21:34.119 --> 0:21:37.320 if not more able, and really am the service of 0:21:37.359 --> 0:21:40.040 getting us the things that we want, creating the outcomes 0:21:40.040 --> 0:21:43.119 that we're wanting, and so so often and because of 0:21:43.240 --> 0:21:46.040 just the you know, the structures that have been in 0:21:46.080 --> 0:21:48.439 place that have limited the access that we've had to 0:21:48.880 --> 0:21:53.879