1 00:00:00,080 --> 00:00:08,080 Speaker 1: M Black Tech, Green Money, Season one, episode two. Brian 2 00:00:08,119 --> 00:00:11,600 Speaker 1: Michael Cox is a music producer songwriter responsible for more 3 00:00:11,640 --> 00:00:15,520 Speaker 1: than a hundred million album sales, thirty five number one hits, 4 00:00:15,680 --> 00:00:20,239 Speaker 1: and twelve Grammy nominations, including nine wins. He's been a 5 00:00:20,239 --> 00:00:22,279 Speaker 1: friend of mine for more than twenty years, and I 6 00:00:22,320 --> 00:00:24,960 Speaker 1: wanted to get his thoughts on the deep relationship between 7 00:00:25,040 --> 00:00:28,480 Speaker 1: music and technology that many of us don't fully appreciate. 8 00:00:29,640 --> 00:00:34,400 Speaker 1: Music producers today program computers. The best producers on the 9 00:00:34,520 --> 00:00:39,960 Speaker 1: planet navigate logic Appleton, FL and pro tools, which is programming. 10 00:00:40,080 --> 00:00:42,760 Speaker 1: And I don't think we we don't. We don't call 11 00:00:42,800 --> 00:00:45,959 Speaker 1: it the two because we're being creative and we used 12 00:00:46,000 --> 00:00:47,720 Speaker 1: as a tool like, oh, it's just our tool to 13 00:00:47,840 --> 00:00:51,559 Speaker 1: create music, but it's literally programming. And the way that 14 00:00:51,680 --> 00:00:55,760 Speaker 1: I view, like people who use FL, I view it 15 00:00:55,920 --> 00:00:59,160 Speaker 1: kind of like how kind of how when I was 16 00:00:59,200 --> 00:01:02,720 Speaker 1: coming up, right, we was coming up the elementary school 17 00:01:02,760 --> 00:01:06,720 Speaker 1: and middle school, you know, Steve Jobs is something very 18 00:01:06,840 --> 00:01:11,560 Speaker 1: very revolutionary right by you know, you me that you 19 00:01:11,600 --> 00:01:15,640 Speaker 1: couldn't really compete with corporate America at the time. You know, 20 00:01:15,959 --> 00:01:19,760 Speaker 1: you know, IBM was was the was the standard. You know, 21 00:01:20,120 --> 00:01:22,800 Speaker 1: Dell was the standard. These were the standard PCs and 22 00:01:23,000 --> 00:01:28,960 Speaker 1: corporate America. Right, So if you introduce Apples to corporate America, 23 00:01:29,640 --> 00:01:32,959 Speaker 1: they you know, there was some resistance. But what do 24 00:01:33,040 --> 00:01:36,679 Speaker 1: you do. You say, Okay, we're gonna raise up the 25 00:01:36,720 --> 00:01:42,000 Speaker 1: next year racorship. Uh, computer users. So if we can't 26 00:01:42,000 --> 00:01:45,440 Speaker 1: get into these big corporate offices and put the pressers 27 00:01:45,520 --> 00:01:48,440 Speaker 1: to corporate officers who put our systems at elementary schools 28 00:01:48,480 --> 00:01:50,160 Speaker 1: and middle schools in the high schools, you know what 29 00:01:50,160 --> 00:01:54,000 Speaker 1: I mean. So my first computer I ever worked on 30 00:01:54,120 --> 00:01:56,960 Speaker 1: a regular basis was an Apple to eat. You know, 31 00:01:57,040 --> 00:02:02,040 Speaker 1: as a little kid, that keyboard or that applitude keyboard 32 00:02:02,120 --> 00:02:04,560 Speaker 1: is the same exact keyboard that we use right now 33 00:02:04,640 --> 00:02:07,360 Speaker 1: when our bathroom pros, you know what I mean. So 34 00:02:07,400 --> 00:02:09,919 Speaker 1: what happened that as the program as a kid, Like, 35 00:02:10,560 --> 00:02:13,040 Speaker 1: my first computer I touched was an Apple two years 36 00:02:13,080 --> 00:02:16,760 Speaker 1: So as they developed and you get older and and 37 00:02:16,880 --> 00:02:19,280 Speaker 1: you go to different schools, you you you go from 38 00:02:19,600 --> 00:02:21,680 Speaker 1: middle school to middle school to high school. By said 39 00:02:21,720 --> 00:02:25,400 Speaker 1: I got a high school. McIntoshes were every high school 40 00:02:25,440 --> 00:02:27,799 Speaker 1: that I you know that we that I knew. So 41 00:02:28,080 --> 00:02:30,200 Speaker 1: in my high school, I'm using mcatogies. So you graduated 42 00:02:30,240 --> 00:02:34,080 Speaker 1: high school and you know my twelfth grade years when 43 00:02:34,120 --> 00:02:35,760 Speaker 1: I when love grade years when I first started using 44 00:02:35,760 --> 00:02:39,840 Speaker 1: like music software, Apple the only company that was really 45 00:02:39,880 --> 00:02:45,200 Speaker 1: making software for music, you know what I mean. Yeah, 46 00:02:45,440 --> 00:02:50,040 Speaker 1: So so as a creative my group, I'm using Apple. 47 00:02:50,080 --> 00:02:51,839 Speaker 1: So to this day, as a forty two ye old 48 00:02:52,320 --> 00:02:54,480 Speaker 1: person has been to used me for twenty some years, 49 00:02:54,800 --> 00:02:57,000 Speaker 1: all I want to used Apple products, you know what 50 00:02:57,000 --> 00:03:01,760 Speaker 1: I mean. It's the un you know, unintentionally or it 51 00:03:01,800 --> 00:03:04,320 Speaker 1: might have been attentional on his part, but on our part, 52 00:03:05,000 --> 00:03:10,760 Speaker 1: unintentionally creating their own consumer right. SOFL is that same 53 00:03:10,800 --> 00:03:14,000 Speaker 1: exact thing, right, So think about this now, I use 54 00:03:14,080 --> 00:03:16,440 Speaker 1: app you know, I'm an Apple user, right, but the 55 00:03:16,520 --> 00:03:20,680 Speaker 1: average person in it could corporate world, they're using PCs 56 00:03:20,760 --> 00:03:24,079 Speaker 1: right right, So if you have a PC in your 57 00:03:24,360 --> 00:03:29,360 Speaker 1: in your in your corporate world and um um um 58 00:03:29,440 --> 00:03:31,720 Speaker 1: in you're my age and you might have gotten married 59 00:03:31,760 --> 00:03:34,200 Speaker 1: young or you might have you know, a young child, 60 00:03:34,240 --> 00:03:38,200 Speaker 1: he's seventeen eighteen, you know, fifteen years old, you know, 61 00:03:39,120 --> 00:03:41,400 Speaker 1: and I only compute at the houses a PC and 62 00:03:41,440 --> 00:03:45,640 Speaker 1: they want to make music. WELLFL was giving. It was 63 00:03:45,760 --> 00:03:48,600 Speaker 1: it was free. A f used to be free because 64 00:03:48,600 --> 00:03:51,320 Speaker 1: they when you were you back in the day ten 65 00:03:51,400 --> 00:03:53,840 Speaker 1: years ago, fifteen years ago, FL was free. It was 66 00:03:53,920 --> 00:03:56,760 Speaker 1: a free download. So if your mom at a PC 67 00:03:58,760 --> 00:04:00,800 Speaker 1: and you couldn't afford the Mac question, you couldn't getting 68 00:04:00,800 --> 00:04:04,360 Speaker 1: mad because Mac was popping, you know, twothous and that 69 00:04:04,560 --> 00:04:08,040 Speaker 1: moments because I already I'm a downloading FL and I'm 70 00:04:08,080 --> 00:04:10,280 Speaker 1: gonna start making my little beats on FL. And people 71 00:04:10,360 --> 00:04:15,920 Speaker 1: kind of shunned FL initially professionals, you know, because it 72 00:04:16,040 --> 00:04:18,480 Speaker 1: was it was like a game, almost a video game 73 00:04:18,760 --> 00:04:21,200 Speaker 1: the way that we view it then, right, But what 74 00:04:21,360 --> 00:04:23,760 Speaker 1: we didn't realize what was happening that they were basically 75 00:04:23,880 --> 00:04:28,200 Speaker 1: building the future consumer. Now all those kids that were 76 00:04:28,240 --> 00:04:31,960 Speaker 1: making beats or flor fifteen years ago are top my 77 00:04:32,120 --> 00:04:36,320 Speaker 1: hot hearted producers. F FL is the number one dog, 78 00:04:36,720 --> 00:04:39,839 Speaker 1: you know what I mean, and the business right now. 79 00:04:39,839 --> 00:04:41,840 Speaker 1: All these kids that are to do this program A 80 00:04:41,880 --> 00:04:44,640 Speaker 1: lot of our musicians that you learn how to programming, 81 00:04:44,720 --> 00:04:46,800 Speaker 1: they still don't even understand that that's what they're doing. 82 00:04:47,200 --> 00:04:50,159 Speaker 1: I think that the kids trying to connect the dots 83 00:04:50,200 --> 00:04:53,640 Speaker 1: and let people know that, yo, you're a computer programmer too. 84 00:04:54,440 --> 00:04:57,840 Speaker 1: Wo yeah, okay, so you can actually not just make 85 00:04:57,920 --> 00:05:02,000 Speaker 1: beats and program you create this ship. You create something. 86 00:05:02,720 --> 00:05:06,159 Speaker 1: You can actually do something with this that's way bigger 87 00:05:06,160 --> 00:05:09,800 Speaker 1: than what you even thinking you're doing. I'm Will Lucas 88 00:05:09,960 --> 00:05:13,760 Speaker 1: and this is black tech, green money. I'm gonna ensue 89 00:05:13,800 --> 00:05:16,000 Speaker 1: to some of the biggest names, some of the brightest 90 00:05:16,040 --> 00:05:19,280 Speaker 1: minds and brilliant ideas. If you're black and building or 91 00:05:19,320 --> 00:05:22,440 Speaker 1: simply using Texas to kill your bag, It's podcast is 92 00:05:22,480 --> 00:05:29,480 Speaker 1: for you either act put. I'm his partner at Gingerbrand 93 00:05:29,560 --> 00:05:32,960 Speaker 1: Capital when remission is to engage, educate, and elevate the 94 00:05:33,000 --> 00:05:36,400 Speaker 1: next generation of success for women business leaders and investors. 95 00:05:37,400 --> 00:05:40,600 Speaker 1: She holds an NBA and Marketing and entrepreneur Your Management 96 00:05:40,680 --> 00:05:44,040 Speaker 1: from the Warden School, University of Pennsylvania, and she had 97 00:05:44,120 --> 00:05:47,400 Speaker 1: the bachelor's degree in psychology and a Certificate and Finance 98 00:05:47,440 --> 00:05:51,960 Speaker 1: from Princeton University. On Term Sheets a three episode video 99 00:05:52,120 --> 00:05:54,839 Speaker 1: series which is available to watch it full on YouTube. 100 00:05:55,160 --> 00:05:57,280 Speaker 1: I travel to New York City to me either to 101 00:05:57,360 --> 00:06:00,200 Speaker 1: discuss venture capital in New York City and what it 102 00:06:00,240 --> 00:06:18,159 Speaker 1: takes to be a successful injury capitalist tickle walk and 103 00:06:18,200 --> 00:06:20,560 Speaker 1: so talk to me a little bit about having these 104 00:06:20,600 --> 00:06:23,680 Speaker 1: conversations with vcs on how to navigate and find your 105 00:06:23,680 --> 00:06:26,320 Speaker 1: way into a VC role and some would say, you know, 106 00:06:26,360 --> 00:06:28,600 Speaker 1: you need to be a business student and find your 107 00:06:28,600 --> 00:06:31,640 Speaker 1: way and talk to me about how you think people's 108 00:06:31,720 --> 00:06:35,400 Speaker 1: best path forward to finding a VC role looks today. Sure, 109 00:06:35,440 --> 00:06:37,039 Speaker 1: I mean I can tell you my own path, and 110 00:06:37,080 --> 00:06:39,520 Speaker 1: then I can tell you kind of the historical paths 111 00:06:39,520 --> 00:06:41,960 Speaker 1: that I've seen. Uh, there's kind of two main ways 112 00:06:42,120 --> 00:06:44,840 Speaker 1: you come in from finance. Either you had an investment 113 00:06:44,880 --> 00:06:48,520 Speaker 1: banking or consulting background and then you move over into 114 00:06:48,560 --> 00:06:51,800 Speaker 1: that world of investing UM from the venture side, or 115 00:06:51,880 --> 00:06:54,960 Speaker 1: you're an ex operator and entrepreneur and then you move 116 00:06:55,000 --> 00:06:58,360 Speaker 1: over from that perspective having been an operator. So though 117 00:06:58,360 --> 00:07:00,359 Speaker 1: those are the two aspects, and I person and I 118 00:07:00,360 --> 00:07:03,240 Speaker 1: started my career in investment banking. I worked at Goldman 119 00:07:03,279 --> 00:07:06,480 Speaker 1: Sachs uh analyst program, so I did analysts and associate 120 00:07:06,560 --> 00:07:09,080 Speaker 1: years at Goldman. But I didn't go into venture right 121 00:07:09,120 --> 00:07:12,200 Speaker 1: out of After going into vestment banking, actually went to 122 00:07:12,240 --> 00:07:14,240 Speaker 1: business school. You know a lot of people do that, 123 00:07:14,240 --> 00:07:17,160 Speaker 1: that path of thinking about what's next UM. And so 124 00:07:17,280 --> 00:07:20,120 Speaker 1: post business school, I went and worked for American Express. 125 00:07:20,160 --> 00:07:23,120 Speaker 1: I did the traditional big corporate job, and then I 126 00:07:23,160 --> 00:07:25,880 Speaker 1: actually went to a smaller private equity owned companies. So 127 00:07:25,920 --> 00:07:29,040 Speaker 1: I saw the difference between private equity, which is looking 128 00:07:29,040 --> 00:07:32,840 Speaker 1: at later stage, much more established businesses, and venture capital, 129 00:07:32,880 --> 00:07:35,400 Speaker 1: which is looking at the earlier stage. And I think 130 00:07:35,400 --> 00:07:37,920 Speaker 1: for me what kind of made the difference was that 131 00:07:38,560 --> 00:07:41,040 Speaker 1: when you're going into private equity, these companies have been 132 00:07:41,040 --> 00:07:44,520 Speaker 1: around for decades maybe longer than that, that are being 133 00:07:44,520 --> 00:07:48,200 Speaker 1: acquired and brought together. Venture is about the new and 134 00:07:48,200 --> 00:07:50,120 Speaker 1: starting things at the beginning. And I think around the 135 00:07:50,160 --> 00:07:52,080 Speaker 1: time when I made the decision that I wanted to 136 00:07:52,160 --> 00:07:56,000 Speaker 1: leave traditional corporate America, I was reading all these articles 137 00:07:56,000 --> 00:07:58,320 Speaker 1: that were saying things like women don't want to be 138 00:07:58,760 --> 00:08:01,120 Speaker 1: you know, CEOs women and just want to create kind 139 00:08:01,120 --> 00:08:04,400 Speaker 1: of lifestyle businesses and they're not looking to be at 140 00:08:04,440 --> 00:08:06,240 Speaker 1: the top. They don't want to run the same race. 141 00:08:06,600 --> 00:08:08,880 Speaker 1: And I was like, m those are not the women 142 00:08:08,960 --> 00:08:11,320 Speaker 1: that I went to college with, worked at Goldman Sacks with, 143 00:08:11,520 --> 00:08:14,080 Speaker 1: and just the women in my network. And I realized 144 00:08:14,080 --> 00:08:16,200 Speaker 1: that I also saw a lot of women leaving traditional 145 00:08:16,240 --> 00:08:18,960 Speaker 1: corporate and going out neither starting their own things. And 146 00:08:19,040 --> 00:08:21,880 Speaker 1: that was the path I took. I literally left UM. 147 00:08:22,080 --> 00:08:23,520 Speaker 1: I didn't know what I was going to do next, 148 00:08:23,520 --> 00:08:25,800 Speaker 1: and I took eight months off and I traveled, I 149 00:08:25,880 --> 00:08:28,000 Speaker 1: was lucky that I had the kind of safety net 150 00:08:28,040 --> 00:08:29,920 Speaker 1: to be able to do that. But it was during 151 00:08:30,000 --> 00:08:33,640 Speaker 1: that course I went across Africa, Europe, the US, and 152 00:08:33,679 --> 00:08:35,640 Speaker 1: I was talking to my female friends along the way, 153 00:08:35,679 --> 00:08:39,360 Speaker 1: and we were having similar conversations about, you know, we 154 00:08:39,440 --> 00:08:41,559 Speaker 1: want our work to mean something. We want if we're 155 00:08:41,600 --> 00:08:44,080 Speaker 1: leaving family or kids or all these kind of things. 156 00:08:44,080 --> 00:08:46,520 Speaker 1: We wanted to be worth something, and that's kind of 157 00:08:46,520 --> 00:08:48,560 Speaker 1: what led me to start my own advisory company. So 158 00:08:48,600 --> 00:08:50,920 Speaker 1: I decided, Okay, I know what I want to focus on. 159 00:08:51,160 --> 00:08:54,520 Speaker 1: I want to focus on women entrepreneurs, women investors, kind 160 00:08:54,520 --> 00:08:57,640 Speaker 1: of galvanizing the community. That's the contract what I'm reading. 161 00:08:58,000 --> 00:08:59,920 Speaker 1: And then I decided, okay, how am I going to 162 00:09:00,040 --> 00:09:01,560 Speaker 1: do that? Do I want to join a start up 163 00:09:01,720 --> 00:09:03,920 Speaker 1: or do I want to you know, code do it 164 00:09:03,960 --> 00:09:06,480 Speaker 1: on my own? And I realized that consulting and doing 165 00:09:06,480 --> 00:09:09,080 Speaker 1: advisory work was the best way for me to get in, 166 00:09:09,400 --> 00:09:10,920 Speaker 1: even though I did it in the back of my 167 00:09:10,960 --> 00:09:13,720 Speaker 1: mind no that I wanted to do investing. But you know, 168 00:09:13,880 --> 00:09:16,040 Speaker 1: I think I would argue that no woman ever has 169 00:09:16,120 --> 00:09:18,679 Speaker 1: just been like, you know, maybe had I been a 170 00:09:18,679 --> 00:09:20,760 Speaker 1: guy leaving Goldman, I would be like, I'm ready to 171 00:09:20,840 --> 00:09:22,640 Speaker 1: launch that fund and I'll go launch of fun and 172 00:09:22,720 --> 00:09:26,199 Speaker 1: possibly could have done it, but it's very challenging back 173 00:09:26,200 --> 00:09:29,600 Speaker 1: then and even now for a woman to just kind 174 00:09:29,600 --> 00:09:31,520 Speaker 1: of stand up and raise a fund. And you're seeing 175 00:09:32,040 --> 00:09:34,880 Speaker 1: it's exciting that more and more women are raising venture 176 00:09:34,920 --> 00:09:38,040 Speaker 1: capital funds, but you're seeing that they're smaller relative to 177 00:09:38,080 --> 00:09:40,720 Speaker 1: their male peers, and the track record that they often 178 00:09:40,760 --> 00:09:43,880 Speaker 1: have is much more extensive in having done it, like 179 00:09:43,960 --> 00:09:46,960 Speaker 1: by themselves before they started it. And so you know, 180 00:09:47,040 --> 00:09:48,280 Speaker 1: I was like, let me do it with the way 181 00:09:48,280 --> 00:09:50,520 Speaker 1: I feel comfortable, in the way that I think that 182 00:09:50,559 --> 00:09:53,080 Speaker 1: I could bring the most value. So I used my 183 00:09:53,160 --> 00:09:56,160 Speaker 1: network and I started working and taking on engagements for 184 00:09:56,280 --> 00:09:59,040 Speaker 1: women founders that I knew we were looking for help. 185 00:09:59,400 --> 00:10:02,880 Speaker 1: And then you know, women investors. I was an investment banking. 186 00:10:02,960 --> 00:10:05,480 Speaker 1: We got paid well, and I knew guys that started 187 00:10:05,520 --> 00:10:08,840 Speaker 1: making private investments when we were analysts associates. I knew 188 00:10:08,920 --> 00:10:11,720 Speaker 1: none of my women friends, including some that are still 189 00:10:11,760 --> 00:10:14,400 Speaker 1: there to this day, that had made a private investment. 190 00:10:14,559 --> 00:10:17,760 Speaker 1: Now that's strange, it's not you know, I'm sure there's 191 00:10:17,800 --> 00:10:20,200 Speaker 1: pay gaps there too, but you're starting off with a 192 00:10:20,240 --> 00:10:24,360 Speaker 1: population that does have disposable income that they can use. 193 00:10:25,200 --> 00:10:27,640 Speaker 1: Men are using it, women are not. Why is that? So? 194 00:10:27,679 --> 00:10:30,439 Speaker 1: I wanted to do something around that conversation of both 195 00:10:30,520 --> 00:10:33,640 Speaker 1: women as entrepreneurs who wanted to start and lead big 196 00:10:33,640 --> 00:10:36,720 Speaker 1: companies and then women as investors who wanted to actually 197 00:10:36,720 --> 00:10:41,800 Speaker 1: deploy capital for future games. So that was the finance perspective. 198 00:10:41,880 --> 00:10:43,959 Speaker 1: But like you know, you asked the question about how 199 00:10:44,040 --> 00:10:47,640 Speaker 1: you get into venture capital, it is such a relationship 200 00:10:47,720 --> 00:10:51,760 Speaker 1: driven industry that you really have to be in the 201 00:10:51,880 --> 00:10:55,880 Speaker 1: spaces where investors are to start building the relationships that 202 00:10:55,920 --> 00:10:58,320 Speaker 1: will get you top of mind so that when these 203 00:10:58,400 --> 00:11:01,800 Speaker 1: job openings happen. It's not like investment banks they do 204 00:11:01,920 --> 00:11:05,120 Speaker 1: analyst classes. They hire it every year after college, you 205 00:11:05,240 --> 00:11:08,360 Speaker 1: bring in fifty into the firm at the same time. 206 00:11:08,800 --> 00:11:11,320 Speaker 1: Most vcs are very small. They may have, you know, 207 00:11:11,400 --> 00:11:14,360 Speaker 1: one or two, Some like the Kleiners and Sequoias, have 208 00:11:14,480 --> 00:11:17,240 Speaker 1: larger partner basis, but most of them are very small, 209 00:11:17,320 --> 00:11:20,600 Speaker 1: and when the openings happen, they're filled by word of mouth. 210 00:11:20,920 --> 00:11:22,880 Speaker 1: So you've got to get in the flow of where 211 00:11:22,960 --> 00:11:24,760 Speaker 1: the word of mouth is happening so that you can 212 00:11:24,800 --> 00:11:27,920 Speaker 1: be somebody that people think of when they want to say, oh, 213 00:11:28,000 --> 00:11:29,880 Speaker 1: we're looking for a new investor. Do you not know 214 00:11:29,960 --> 00:11:33,000 Speaker 1: anybody an analysts associate that can come in and step in. 215 00:11:37,720 --> 00:11:40,880 Speaker 1: You mentioned when you were reading those articles and they 216 00:11:40,880 --> 00:11:42,400 Speaker 1: were saying any women don't want to do the X, 217 00:11:42,520 --> 00:11:44,880 Speaker 1: Y and Z, And you're saying, well, not the people 218 00:11:44,880 --> 00:11:46,480 Speaker 1: that I grew up with. And do you think it's 219 00:11:48,040 --> 00:11:52,200 Speaker 1: those stories and narratives reinforced to women that there is 220 00:11:52,240 --> 00:11:55,160 Speaker 1: not a place for them in these seeds, and therefore 221 00:11:55,760 --> 00:11:58,520 Speaker 1: those investment banker women don't invest because they don't see 222 00:11:58,559 --> 00:12:01,160 Speaker 1: their stories being told. Well, I mean, let's be clear, 223 00:12:01,360 --> 00:12:03,920 Speaker 1: Like it wasn't the people I grew up with. I mean, 224 00:12:03,960 --> 00:12:06,280 Speaker 1: I'm the child of immigrants. I was actually born in Nigeria. 225 00:12:06,320 --> 00:12:07,760 Speaker 1: We moved to the US one I was five, and 226 00:12:07,800 --> 00:12:10,480 Speaker 1: I grew up in southern Virginia much more surrounded by 227 00:12:10,600 --> 00:12:13,680 Speaker 1: you know, academics. My parents. My father was a professor 228 00:12:13,720 --> 00:12:16,520 Speaker 1: and we lived around the military basis, so I didn't 229 00:12:16,520 --> 00:12:19,480 Speaker 1: know any vcs growing up that, like, the thought never 230 00:12:19,600 --> 00:12:23,000 Speaker 1: even crossed my mind that venture capital existed. I knew 231 00:12:23,040 --> 00:12:26,280 Speaker 1: finance because my father was a professor of finance, but 232 00:12:26,320 --> 00:12:28,640 Speaker 1: I didn't even know really about Wall Street until I 233 00:12:28,640 --> 00:12:31,079 Speaker 1: got to college, and that's where you know, I went 234 00:12:31,120 --> 00:12:33,240 Speaker 1: to Princeton for college and there was recruiting. There was 235 00:12:33,280 --> 00:12:36,320 Speaker 1: heavy recruiting that would come on campus, and that's where 236 00:12:36,320 --> 00:12:39,440 Speaker 1: I thought finance from the perspective of the application of 237 00:12:39,440 --> 00:12:42,640 Speaker 1: it in the in Wall Street. But you know, if 238 00:12:42,679 --> 00:12:45,360 Speaker 1: you've never thought about it before, if it's not something 239 00:12:45,400 --> 00:12:48,800 Speaker 1: that now I regularly interact with vcs, never would have 240 00:12:48,800 --> 00:12:52,400 Speaker 1: crossed my mind that me at eighteen going to college, 241 00:12:52,640 --> 00:12:56,080 Speaker 1: that I would be a venture capitalist today. No, it 242 00:12:56,120 --> 00:12:57,880 Speaker 1: never even crossed my end. But I had to be 243 00:12:58,320 --> 00:13:02,680 Speaker 1: exposed to it, and I to be exposed to I 244 00:13:02,760 --> 00:13:05,120 Speaker 1: was lucky to be exposed to the full spectrum of it. 245 00:13:05,160 --> 00:13:07,920 Speaker 1: I started my career at the opposite end where every 246 00:13:08,000 --> 00:13:11,040 Speaker 1: VC hopes that their portfolio company gets to getting taken 247 00:13:11,080 --> 00:13:14,800 Speaker 1: public by a company like Goldman, working with multinational, multi 248 00:13:14,800 --> 00:13:18,200 Speaker 1: billion dollar companies. I got to see that aspect and 249 00:13:18,240 --> 00:13:20,960 Speaker 1: then I've actually gone backwards to go back to the 250 00:13:21,000 --> 00:13:24,040 Speaker 1: beginning of where these companies are starting. And I think 251 00:13:24,320 --> 00:13:26,959 Speaker 1: what did that for me was that I realized I 252 00:13:27,000 --> 00:13:30,040 Speaker 1: loved the energy that comes from that Wall Street world, 253 00:13:30,400 --> 00:13:32,960 Speaker 1: but I love the relationships that comes from the venture 254 00:13:32,960 --> 00:13:36,960 Speaker 1: world because you're still at these early stages, these companies, 255 00:13:37,000 --> 00:13:40,000 Speaker 1: these founders still want advice. They actually want to hear 256 00:13:40,000 --> 00:13:42,360 Speaker 1: from their investors. They want to hear from their customers. 257 00:13:42,760 --> 00:13:46,280 Speaker 1: Unlike you know, when you're a large multinational, you hear 258 00:13:46,400 --> 00:13:49,160 Speaker 1: get the quarterly earnings call, maybe they'll take you, and 259 00:13:49,240 --> 00:13:51,640 Speaker 1: a maybe they won't, and it's just kind of until 260 00:13:51,679 --> 00:13:55,040 Speaker 1: there's an activist investor that steps in that you really 261 00:13:55,120 --> 00:13:58,760 Speaker 1: kind of hear anything. But in venture it's you're in 262 00:13:58,800 --> 00:14:00,920 Speaker 1: the trenches with them. They want you in the trenches 263 00:14:00,960 --> 00:14:03,280 Speaker 1: with them, which I really love. So I guess we 264 00:14:03,400 --> 00:14:06,320 Speaker 1: made an assumption that women do want to Why should 265 00:14:06,360 --> 00:14:11,240 Speaker 1: women consider venture investing, I guess not even just venture, 266 00:14:11,280 --> 00:14:15,080 Speaker 1: but investing as a mode of something they should be 267 00:14:15,120 --> 00:14:18,920 Speaker 1: involved in. Yes, So, you know, building a diversified portfolio 268 00:14:19,040 --> 00:14:22,280 Speaker 1: of assets and asset classes is important for anybody that's 269 00:14:22,280 --> 00:14:25,560 Speaker 1: trying to build wealth and building you know, not just 270 00:14:26,040 --> 00:14:29,800 Speaker 1: uh wealth to live on, but like generational wealth. And 271 00:14:29,880 --> 00:14:33,080 Speaker 1: when you look at where a lot of these new 272 00:14:33,320 --> 00:14:36,520 Speaker 1: millionaires billionaires are coming out of, Yes, there are ones 273 00:14:36,560 --> 00:14:39,280 Speaker 1: that are doing you know, the hedge funds and trading 274 00:14:39,280 --> 00:14:41,480 Speaker 1: in the public markets, but there are a lot more 275 00:14:41,520 --> 00:14:44,240 Speaker 1: that have either built a company, and look at Mark Zuckerberg. 276 00:14:44,320 --> 00:14:47,400 Speaker 1: He started Facebook and college has stayed with it throughout 277 00:14:47,440 --> 00:14:50,600 Speaker 1: and it's turned it into a multibillion dollar entity that 278 00:14:50,760 --> 00:14:55,000 Speaker 1: is going to transcend his lifetime, his children's lifetime. Investors 279 00:14:55,000 --> 00:14:58,800 Speaker 1: that went in at like fifty dollars into Facebook were 280 00:14:58,840 --> 00:15:03,040 Speaker 1: returned I think several hundred million. So that kind of 281 00:15:03,200 --> 00:15:06,640 Speaker 1: return you don't necessarily get in the public markets the 282 00:15:06,680 --> 00:15:09,280 Speaker 1: way you'll see when you start something from zero and 283 00:15:09,320 --> 00:15:11,760 Speaker 1: watch it exit and stay through to the other side. 284 00:15:11,800 --> 00:15:16,800 Speaker 1: So when we think about generational wealth, closing income inequality, 285 00:15:16,840 --> 00:15:20,720 Speaker 1: but it's hard because not everybody has the disposable income 286 00:15:21,080 --> 00:15:23,200 Speaker 1: to be able to do this. And so I would 287 00:15:23,280 --> 00:15:28,320 Speaker 1: also stress that you know, investing is incredibly risky. Most 288 00:15:28,520 --> 00:15:33,160 Speaker 1: startups fail, Most investments will not succeed. They will either 289 00:15:33,240 --> 00:15:36,040 Speaker 1: go directly to zero or maybe return you the money 290 00:15:36,080 --> 00:15:38,880 Speaker 1: that you put in if you're lucky. But most especially 291 00:15:38,880 --> 00:15:41,480 Speaker 1: in the venture space, because it's so about high growth 292 00:15:41,480 --> 00:15:44,160 Speaker 1: and building companies that you think will be the next 293 00:15:44,320 --> 00:15:47,680 Speaker 1: multibillion dollar kind of unicorns, that is a high risk, 294 00:15:47,720 --> 00:15:51,520 Speaker 1: high reward proposition. So if you're thinking about being an investor, 295 00:15:52,120 --> 00:15:54,560 Speaker 1: there's two paths. Either you go as an individual and 296 00:15:54,600 --> 00:15:57,640 Speaker 1: start investing your own personal capital, or you go into 297 00:15:57,800 --> 00:16:01,920 Speaker 1: more of an institutional and joint as employ way associate 298 00:16:02,080 --> 00:16:05,920 Speaker 1: partner level to invest on behalf of other people's money. Uh, 299 00:16:05,960 --> 00:16:11,000 Speaker 1: And getting to those opportunities is really it's it's hard, 300 00:16:11,480 --> 00:16:14,200 Speaker 1: and it's really about they won't find you, you have 301 00:16:14,240 --> 00:16:17,600 Speaker 1: to go find them. Yeah, I'm I'm really interested in 302 00:16:17,640 --> 00:16:22,600 Speaker 1: your take on, um, the opportunities black women and black men, 303 00:16:22,680 --> 00:16:26,040 Speaker 1: just black people in general have with regardless to starting companies, 304 00:16:26,080 --> 00:16:28,640 Speaker 1: because so often we get pigeonholed into well, you guys 305 00:16:28,680 --> 00:16:32,640 Speaker 1: start these types of companies because that's how we think 306 00:16:32,680 --> 00:16:35,520 Speaker 1: of these stereotypical types of things. And not saying that 307 00:16:35,560 --> 00:16:40,760 Speaker 1: there's anything bad with starting a company that is stereotypically so, 308 00:16:40,840 --> 00:16:43,800 Speaker 1: but how do you think about the opportunities that might 309 00:16:43,840 --> 00:16:47,880 Speaker 1: be available that we may not consider at large, um, 310 00:16:47,920 --> 00:16:51,240 Speaker 1: that we can play those those fields. Well, I mean, 311 00:16:51,400 --> 00:16:55,360 Speaker 1: the investing game and private markets and capitalism is about 312 00:16:55,480 --> 00:16:59,680 Speaker 1: meeting the needs of unserved or untapped populations. So you know, 313 00:16:59,760 --> 00:17:04,199 Speaker 1: I think that black men, women, people in general we 314 00:17:04,240 --> 00:17:07,520 Speaker 1: have been underserved in a lot of different market opportunities, 315 00:17:07,560 --> 00:17:09,760 Speaker 1: and we are also poised to be the people that 316 00:17:09,840 --> 00:17:15,480 Speaker 1: can have solutions to those market inefficiencies. What becomes challenging 317 00:17:15,600 --> 00:17:17,879 Speaker 1: is when the people on the other side of the 318 00:17:17,920 --> 00:17:20,800 Speaker 1: table have never experienced those It's hard to invest in 319 00:17:20,880 --> 00:17:24,040 Speaker 1: something that you literally never experienced or can't wrap your 320 00:17:24,040 --> 00:17:27,159 Speaker 1: mind around, or you know, oftentimes there's the story of 321 00:17:27,320 --> 00:17:28,919 Speaker 1: you know, a VC will be like I'll ask my 322 00:17:28,960 --> 00:17:31,080 Speaker 1: wife if it's a woman sitting in front of him, 323 00:17:31,240 --> 00:17:33,639 Speaker 1: and if the wife. You know, I think Jenn Hyman 324 00:17:33,720 --> 00:17:35,879 Speaker 1: and Jenny Flies talk about it from rent the runway 325 00:17:35,920 --> 00:17:38,159 Speaker 1: at the beginning they talk to investors and like, my 326 00:17:38,200 --> 00:17:41,960 Speaker 1: wife would never rent address, but she's not the target demographic, right, 327 00:17:42,160 --> 00:17:46,200 Speaker 1: or but you know, it's realizing that sometimes just because 328 00:17:46,200 --> 00:17:48,560 Speaker 1: it's not the target for you doesn't mean that it's 329 00:17:48,560 --> 00:17:51,480 Speaker 1: not a huge population of people where it is a 330 00:17:51,520 --> 00:17:55,480 Speaker 1: real problem. So, you know, I think there's absolutely so 331 00:17:55,520 --> 00:17:59,720 Speaker 1: many problems and solutions that black founders can do. The 332 00:17:59,800 --> 00:18:02,639 Speaker 1: next problem becomes being funded to be able to do it, 333 00:18:03,040 --> 00:18:05,400 Speaker 1: especially if your vision is not to do a mom 334 00:18:05,400 --> 00:18:07,440 Speaker 1: and pop where you can maybe try to do bank 335 00:18:07,480 --> 00:18:11,800 Speaker 1: loans or do you know small capital. Friends and family 336 00:18:11,880 --> 00:18:13,760 Speaker 1: is a big thing. Friends and family around is a 337 00:18:13,800 --> 00:18:17,159 Speaker 1: big thing of what launches you know, early entrepreneurs, and 338 00:18:17,200 --> 00:18:19,480 Speaker 1: we don't always have And if you look around a 339 00:18:19,520 --> 00:18:21,560 Speaker 1: friends and family, you know, I grew up in a 340 00:18:21,680 --> 00:18:24,119 Speaker 1: very in a middle class family of professors, but you know, 341 00:18:24,240 --> 00:18:28,000 Speaker 1: my parents were not ready to I didn't have the 342 00:18:28,080 --> 00:18:30,600 Speaker 1: luxury of our president where you've got a million dollars 343 00:18:30,680 --> 00:18:34,679 Speaker 1: like startup to go do it. But it's when you 344 00:18:34,720 --> 00:18:37,679 Speaker 1: don't have the friends and family, then how do you 345 00:18:37,880 --> 00:18:40,600 Speaker 1: It becomes daunting to think about how you even break through. 346 00:18:41,040 --> 00:18:44,680 Speaker 1: And so when you do breakthrough, it's about the access um. 347 00:18:44,760 --> 00:18:48,359 Speaker 1: Catherine Finney and Digital Undivided, they've done Project Diane, looking 348 00:18:48,359 --> 00:18:51,600 Speaker 1: specifically at black and brown women and what is that point? 349 00:18:51,600 --> 00:18:55,280 Speaker 1: Oh six percent is going to black women, and I 350 00:18:55,320 --> 00:18:58,359 Speaker 1: mean that, you know her. I think the first report 351 00:18:58,440 --> 00:19:01,040 Speaker 1: was like, the real unicorns are black women because it's 352 00:19:01,080 --> 00:19:05,560 Speaker 1: just so difficult. And somebody was like, it's statistically insignificant. 353 00:19:05,560 --> 00:19:08,120 Speaker 1: But one of the portfolio companies in our somebody said 354 00:19:08,160 --> 00:19:11,320 Speaker 1: that too, you know, um, one of our portfolio companies, 355 00:19:11,320 --> 00:19:14,080 Speaker 1: and she's like, but I'm a person, I am significant. 356 00:19:14,119 --> 00:19:17,800 Speaker 1: I'm there because you know, with every single one that happens, 357 00:19:18,040 --> 00:19:22,520 Speaker 1: it's bucking that number up and up. But when you're absolute, 358 00:19:22,680 --> 00:19:25,199 Speaker 1: and there's so few getting in there, and there's so 359 00:19:25,280 --> 00:19:28,119 Speaker 1: much other capital out there, it can feel overwhelming. So 360 00:19:28,160 --> 00:19:30,639 Speaker 1: I think what's happening is more of the founders that 361 00:19:30,680 --> 00:19:33,080 Speaker 1: are getting through to the other side are I've seen 362 00:19:33,200 --> 00:19:36,080 Speaker 1: are reaching back to others to share how they did it. 363 00:19:36,400 --> 00:19:39,840 Speaker 1: There's organizations like for for Women looking at al Rays 364 00:19:40,000 --> 00:19:42,640 Speaker 1: is doing some great work trying to get women entrepreneurs 365 00:19:42,920 --> 00:19:46,240 Speaker 1: and women investors, more women seated in positions of partner 366 00:19:46,320 --> 00:19:49,399 Speaker 1: level roles where you're the check writer. Uh, we are 367 00:19:49,440 --> 00:19:52,320 Speaker 1: going to attack it on multiple fronts. At Gingerbread Capital, 368 00:19:52,480 --> 00:19:55,560 Speaker 1: we've taken the approach of attacking it at multiple fronts, 369 00:19:55,680 --> 00:19:59,560 Speaker 1: specifically looking at women entrepreneurs, so we do direct investments 370 00:19:59,640 --> 00:20:02,320 Speaker 1: in whom an entrepreneurs, and then we believe that it's 371 00:20:02,359 --> 00:20:05,119 Speaker 1: also important to get capital in the hands of women investors, 372 00:20:05,359 --> 00:20:08,760 Speaker 1: and so we're limited partners where LPs and funds that 373 00:20:08,800 --> 00:20:12,159 Speaker 1: are backed by majority women gps. So for us, we 374 00:20:12,200 --> 00:20:14,400 Speaker 1: think that if we get it at both sides, hopefully 375 00:20:14,400 --> 00:20:18,160 Speaker 1: that needle will move because the funding is being diversified 376 00:20:18,160 --> 00:20:25,520 Speaker 1: on both ads. Who is best positioned than to take 377 00:20:25,640 --> 00:20:28,600 Speaker 1: these seats that you talk about in the firms, because 378 00:20:28,600 --> 00:20:31,080 Speaker 1: when you talk, when you think about I'm a black 379 00:20:31,119 --> 00:20:34,280 Speaker 1: and black male or female founder and I'm going to 380 00:20:34,320 --> 00:20:36,879 Speaker 1: AFRO Tech and I see, oh, there's either walking on 381 00:20:36,960 --> 00:20:39,480 Speaker 1: the hall. You probably have two hundred people following you 382 00:20:39,560 --> 00:20:42,720 Speaker 1: because you are the one who know you look like 383 00:20:42,800 --> 00:20:45,320 Speaker 1: them and you can get what they're trying to build. 384 00:20:45,760 --> 00:20:48,639 Speaker 1: And when there's so few Eatas and Richard Kirby's and 385 00:20:48,680 --> 00:20:52,879 Speaker 1: my Asia leagues and etcetera, all the attention goes to 386 00:20:52,960 --> 00:20:56,959 Speaker 1: a handful of vcs who can only write so many checks, 387 00:20:57,359 --> 00:21:01,080 Speaker 1: who can only engage with so many entrepreneurs. So who 388 00:21:01,160 --> 00:21:05,800 Speaker 1: out there, black women, black man should be considering or 389 00:21:05,800 --> 00:21:08,280 Speaker 1: should be at least taking a second look at venture 390 00:21:08,400 --> 00:21:12,800 Speaker 1: roles or intesting and startups that may not be today. Yeah. Well, 391 00:21:12,840 --> 00:21:15,280 Speaker 1: I think if becoming an investor is something that it's 392 00:21:15,320 --> 00:21:19,359 Speaker 1: important to you, you have to you have to start 393 00:21:19,400 --> 00:21:23,159 Speaker 1: now to build a personal brand in the space and 394 00:21:23,240 --> 00:21:25,240 Speaker 1: to have a point of view. And so that doesn't 395 00:21:25,240 --> 00:21:28,880 Speaker 1: mean necessarily writing checks. But there are especially in New York, 396 00:21:28,920 --> 00:21:31,359 Speaker 1: which I love being a VC in New York, I 397 00:21:31,400 --> 00:21:33,280 Speaker 1: now get to go to both coasts a lot more. 398 00:21:33,640 --> 00:21:35,879 Speaker 1: I appreciate so much the New York market because we 399 00:21:36,000 --> 00:21:38,400 Speaker 1: physically sit on top of each other, like we are 400 00:21:38,440 --> 00:21:41,800 Speaker 1: across eight miles. We can get from you know, we 401 00:21:41,800 --> 00:21:43,840 Speaker 1: can start out in Brooklyn and have a meeting in 402 00:21:43,840 --> 00:21:46,360 Speaker 1: Manhattan and go up to Harlem, all in the same night, 403 00:21:46,760 --> 00:21:50,000 Speaker 1: all in the same day. That really isn't happening on 404 00:21:50,040 --> 00:21:51,919 Speaker 1: the West Coast. And I go and see it. If 405 00:21:51,920 --> 00:21:54,480 Speaker 1: you're an SF or you're out on the peninsula, people 406 00:21:54,480 --> 00:21:56,359 Speaker 1: are like, oh, that thing is out there, oh now, 407 00:21:56,760 --> 00:21:58,480 Speaker 1: And in l A it's the same thing. It's very 408 00:21:58,560 --> 00:22:02,959 Speaker 1: neighborhood specific, uh, And I think are just general size 409 00:22:02,960 --> 00:22:05,000 Speaker 1: of US and the infrastructure that we can use subways 410 00:22:05,040 --> 00:22:07,800 Speaker 1: and move through relatively easy has made the New York 411 00:22:07,840 --> 00:22:11,560 Speaker 1: market more advantageous. And I would say it's a great 412 00:22:11,600 --> 00:22:13,680 Speaker 1: market for women, and it's a great market for people 413 00:22:13,680 --> 00:22:17,000 Speaker 1: of color. Also because there's more than one industry exists 414 00:22:17,000 --> 00:22:19,320 Speaker 1: in New York, more than one type of people lives 415 00:22:19,359 --> 00:22:22,000 Speaker 1: in New York. And we've seen there's finance, there's fashion, 416 00:22:22,040 --> 00:22:25,439 Speaker 1: there's retail. There's lots of different things conferge in this market. 417 00:22:25,880 --> 00:22:29,320 Speaker 1: And there's great gender dynamics and diversity in this city. 418 00:22:29,359 --> 00:22:31,640 Speaker 1: By the nature of again, we're all being on top 419 00:22:31,720 --> 00:22:34,520 Speaker 1: of each other, which means that the likelihood of seeing 420 00:22:34,520 --> 00:22:38,879 Speaker 1: more people that look different is increased in a population 421 00:22:38,920 --> 00:22:42,320 Speaker 1: where it's so concentrated. Uh and where people live in work. 422 00:22:42,640 --> 00:22:46,280 Speaker 1: So you know, from the perspective of breaking in in 423 00:22:46,320 --> 00:22:48,840 Speaker 1: New York, there's so many like meet up groups and 424 00:22:49,720 --> 00:22:52,639 Speaker 1: text there's so many different organizations that are located not 425 00:22:52,720 --> 00:22:54,679 Speaker 1: that far away from each other. And silicote what do 426 00:22:54,680 --> 00:22:57,560 Speaker 1: we call it in New York Silicon Alley. Yeah, Like 427 00:22:58,000 --> 00:23:01,800 Speaker 1: you can just walk down any blocks and they're all 428 00:23:01,960 --> 00:23:05,120 Speaker 1: based in like this twenty block radius. So I would 429 00:23:05,119 --> 00:23:07,320 Speaker 1: say the great thing is a lot of vcs talk 430 00:23:07,400 --> 00:23:10,800 Speaker 1: on either like Instagram or Twitter. Follow the ones in 431 00:23:10,840 --> 00:23:12,960 Speaker 1: the New York market if you're a New York based investor, 432 00:23:13,280 --> 00:23:15,439 Speaker 1: follow them and they'll talk about where they're speaking at. 433 00:23:15,520 --> 00:23:18,040 Speaker 1: They do a lot of speaking engagements. Go to see 434 00:23:18,040 --> 00:23:19,920 Speaker 1: where they're speaking at, go to the things that their 435 00:23:20,280 --> 00:23:23,720 Speaker 1: pitch competition judges at. That's where you start seeing and 436 00:23:23,760 --> 00:23:26,080 Speaker 1: meeting other people that are in that ecosystem, and you 437 00:23:26,200 --> 00:23:29,720 Speaker 1: must build relationships. That is key. No matter what, you 438 00:23:29,840 --> 00:23:32,320 Speaker 1: have to put yourself out there. May be uncomfortable, but 439 00:23:32,400 --> 00:23:34,520 Speaker 1: you have to put yourself out there to start you know, 440 00:23:34,640 --> 00:23:38,320 Speaker 1: forming those connections. So let's take me back to seventeen, 441 00:23:38,440 --> 00:23:42,560 Speaker 1: the two year old Eida, Oh, the doctor that is 442 00:23:42,600 --> 00:23:45,240 Speaker 1: not in front of you today. But let's say you 443 00:23:45,280 --> 00:23:48,600 Speaker 1: are intentionally trying to be what you are today. For 444 00:23:48,720 --> 00:23:50,840 Speaker 1: those girls out there who do want to do what 445 00:23:50,920 --> 00:23:54,720 Speaker 1: you do and are earlier in their career, what would 446 00:23:54,760 --> 00:23:58,439 Speaker 1: you have done intentionally to get to where you are today. 447 00:23:58,720 --> 00:24:00,480 Speaker 1: One of the things that I even know is looking 448 00:24:00,600 --> 00:24:03,000 Speaker 1: at my college, that's different now there are a lot 449 00:24:03,040 --> 00:24:07,440 Speaker 1: more resources happening on campuses of talking about entrepreneurship and 450 00:24:07,480 --> 00:24:10,840 Speaker 1: talking about different paths that are not you know, traditionally 451 00:24:10,880 --> 00:24:12,359 Speaker 1: it was like, you know, you go to banking, you 452 00:24:12,400 --> 00:24:14,440 Speaker 1: go to a major corporate, and you go to consulting, 453 00:24:14,680 --> 00:24:17,560 Speaker 1: where the paths out of you know, my undergrad was 454 00:24:17,640 --> 00:24:19,960 Speaker 1: kind of it. But now there are people are starting 455 00:24:19,960 --> 00:24:23,399 Speaker 1: to do classes in entrepreneurship, their clubs around it, their business, 456 00:24:23,440 --> 00:24:27,000 Speaker 1: their pitch competitions that are happening at the undergraduate level. 457 00:24:27,080 --> 00:24:29,920 Speaker 1: So first of all, I would say look within your 458 00:24:29,960 --> 00:24:32,320 Speaker 1: student body. You know, when you get to college, if 459 00:24:32,320 --> 00:24:35,360 Speaker 1: this is something on your mind, like you know, there's clubs, 460 00:24:35,440 --> 00:24:38,919 Speaker 1: there's there's people. I think about my business school class. 461 00:24:39,119 --> 00:24:41,719 Speaker 1: Warry Parker guys came out of my business school class. 462 00:24:41,760 --> 00:24:44,320 Speaker 1: They didn't know each other coming in, but they spent 463 00:24:44,400 --> 00:24:47,760 Speaker 1: those two years they built those relationships, they brought what 464 00:24:47,920 --> 00:24:49,840 Speaker 1: each of their skill set it, and they launched it 465 00:24:49,960 --> 00:24:52,640 Speaker 1: spring semester of second year. And you know, we're ten years. 466 00:24:52,640 --> 00:24:55,680 Speaker 1: We're about to have our ten year anniversary. Make take 467 00:24:55,760 --> 00:24:59,560 Speaker 1: full advantage. College business school are those like years where 468 00:24:59,560 --> 00:25:02,199 Speaker 1: you step side and you get to be you know, 469 00:25:02,280 --> 00:25:04,600 Speaker 1: you get to be really thinking about yourself because you're 470 00:25:04,640 --> 00:25:08,080 Speaker 1: in that school bubble, especially full time programs. So that's 471 00:25:08,119 --> 00:25:10,520 Speaker 1: when I would say, really really use the advantage of 472 00:25:10,520 --> 00:25:12,960 Speaker 1: getting to know the other students in your class and 473 00:25:13,000 --> 00:25:15,639 Speaker 1: finding out I love I personally love taking and I 474 00:25:15,640 --> 00:25:17,679 Speaker 1: wish I had taken more of these before. There's all 475 00:25:17,720 --> 00:25:22,040 Speaker 1: these kind of strengths tests. There's um, I I love 476 00:25:22,119 --> 00:25:33,080 Speaker 1: the Clifton strength I think in T jr UH and 477 00:25:33,119 --> 00:25:34,959 Speaker 1: I love taking those things. I still take them all 478 00:25:34,960 --> 00:25:37,080 Speaker 1: the time. And then so find out I like to 479 00:25:37,119 --> 00:25:40,200 Speaker 1: build towards my strengths. Find out where you think you're 480 00:25:40,280 --> 00:25:43,000 Speaker 1: really strong, and then find the people that build out 481 00:25:43,040 --> 00:25:45,360 Speaker 1: around that, because that's where the best teams are. You've 482 00:25:45,359 --> 00:25:48,440 Speaker 1: got somebody that's bringing a different thing to the table. Uh, 483 00:25:48,480 --> 00:25:50,800 Speaker 1: and then you can move that forward. And then internships 484 00:25:51,240 --> 00:25:53,240 Speaker 1: in college is also a great time to be able 485 00:25:53,280 --> 00:25:56,880 Speaker 1: to get paid unpaid internships sometimes you can get things 486 00:25:56,880 --> 00:26:00,720 Speaker 1: for credit. Use college business school as that time to 487 00:26:01,160 --> 00:26:03,359 Speaker 1: take the risk and take the jump out on the 488 00:26:03,440 --> 00:26:06,640 Speaker 1: leap and go intern for a company or even maybe 489 00:26:06,680 --> 00:26:10,000 Speaker 1: try something you know, entrepreneurial over a summer. You will 490 00:26:10,119 --> 00:26:13,720 Speaker 1: you if you can. But I also recognize that you 491 00:26:13,760 --> 00:26:17,040 Speaker 1: know you you need money to live, and you need 492 00:26:17,160 --> 00:26:19,520 Speaker 1: like college is just unless you know you're lucky you 493 00:26:19,520 --> 00:26:21,560 Speaker 1: get a full ride. You have to do all those things. 494 00:26:21,600 --> 00:26:24,359 Speaker 1: But where there is the ability to align what you 495 00:26:24,440 --> 00:26:28,320 Speaker 1: do and what you're get paid for, it if possible 496 00:26:28,880 --> 00:26:31,560 Speaker 1: to help you build just the building blocks. It doesn't 497 00:26:31,560 --> 00:26:35,160 Speaker 1: have to be you have that killer idea overnight, giving 498 00:26:35,160 --> 00:26:38,800 Speaker 1: yourself experiences where you test. Am I a strength at finance? 499 00:26:38,840 --> 00:26:41,480 Speaker 1: Am I more of a strength in computer science, which 500 00:26:41,520 --> 00:26:44,159 Speaker 1: is now becoming one of the most popular degrees. I 501 00:26:44,160 --> 00:26:45,760 Speaker 1: think if I went back out as a psych major 502 00:26:45,760 --> 00:26:47,919 Speaker 1: with a certificate in finance, I might have been a 503 00:26:47,920 --> 00:26:51,280 Speaker 1: computer science major with a certificated finance. I actually love 504 00:26:51,960 --> 00:26:56,320 Speaker 1: and my psychology degree comes in very handy because all 505 00:26:56,440 --> 00:27:00,399 Speaker 1: venture is is relationships. Relationships of how to get the 506 00:27:00,400 --> 00:27:04,000 Speaker 1: most out of your founders, relationships of how to form 507 00:27:04,040 --> 00:27:06,200 Speaker 1: the connections that get access and get you the foot 508 00:27:06,240 --> 00:27:08,520 Speaker 1: in the room to get the one that they'll take 509 00:27:08,560 --> 00:27:11,119 Speaker 1: your check versus somebody else. So maybe I would have 510 00:27:11,119 --> 00:27:13,840 Speaker 1: been a triple major a double major in a minor, 511 00:27:14,240 --> 00:27:17,840 Speaker 1: But I do think that that's uh, that having that 512 00:27:17,920 --> 00:27:22,960 Speaker 1: kind of background was good. So what is your typical 513 00:27:23,080 --> 00:27:26,680 Speaker 1: experience like being a black woman in venture capital when 514 00:27:26,720 --> 00:27:29,960 Speaker 1: you find yourself in rooms that you're the only black 515 00:27:30,000 --> 00:27:33,240 Speaker 1: person period, right, and talk to me about what it's 516 00:27:33,359 --> 00:27:37,800 Speaker 1: like this day and to day out living this life. Well, 517 00:27:37,920 --> 00:27:41,160 Speaker 1: I think it started from you know, my first job, right, 518 00:27:41,280 --> 00:27:43,959 Speaker 1: I went into Wall Street. I went into you know, 519 00:27:44,359 --> 00:27:47,200 Speaker 1: financing in a trading floor setting where there are very 520 00:27:47,200 --> 00:27:49,400 Speaker 1: few women. We had five women traders on the floor 521 00:27:49,440 --> 00:27:52,280 Speaker 1: of you know, lots more than that, uh, and there 522 00:27:52,280 --> 00:27:56,240 Speaker 1: were very few black people. So I have gotten used 523 00:27:56,280 --> 00:27:59,000 Speaker 1: to I don't necessarily notice that anywhere, but you always 524 00:27:59,000 --> 00:28:01,359 Speaker 1: notice it when you are the only in the room. 525 00:28:01,760 --> 00:28:04,600 Speaker 1: But I choose to see that as an advantage. You know, 526 00:28:04,920 --> 00:28:08,480 Speaker 1: I have a very My full name is very gender neutrals. 527 00:28:08,480 --> 00:28:11,040 Speaker 1: So people sometimes if they haven't looked me up in advance, 528 00:28:11,280 --> 00:28:12,760 Speaker 1: they don't know who's going to be to walk through 529 00:28:12,880 --> 00:28:15,880 Speaker 1: the door. I've gotten are you Greek? Are you Japanese? 530 00:28:15,920 --> 00:28:18,400 Speaker 1: And then I show up, Oh my god. But use 531 00:28:18,480 --> 00:28:20,920 Speaker 1: that as a thing. People don't forget you when you're 532 00:28:20,960 --> 00:28:24,640 Speaker 1: the only one. So don't feel I've stopped feeling bad 533 00:28:24,680 --> 00:28:27,520 Speaker 1: about it. I choose to see it that people always 534 00:28:27,520 --> 00:28:29,439 Speaker 1: remember me. It might not be able to remember my 535 00:28:29,480 --> 00:28:32,880 Speaker 1: name because be like there was this woman usually like yeah, 536 00:28:32,920 --> 00:28:35,000 Speaker 1: but you can you stand out? So use that to 537 00:28:35,040 --> 00:28:39,000 Speaker 1: your advantage because that's when there's a lot of you know, 538 00:28:39,040 --> 00:28:42,640 Speaker 1: people that are the hoodie wearing white man or all 539 00:28:42,640 --> 00:28:45,240 Speaker 1: those kind of things, a lot less people that look 540 00:28:45,320 --> 00:28:48,440 Speaker 1: like us in a room. So use that to your advantage. 541 00:28:48,520 --> 00:28:51,200 Speaker 1: And then when you when you get that opportunity, make 542 00:28:51,240 --> 00:28:54,960 Speaker 1: it count. Make it count by being prepared in terms 543 00:28:54,960 --> 00:28:58,600 Speaker 1: of understanding who's in the room. Be prepared to target 544 00:28:58,640 --> 00:29:01,000 Speaker 1: your message to who's in the room. The same pitch 545 00:29:01,240 --> 00:29:03,760 Speaker 1: as a founder isn't going to work for everyone. If 546 00:29:03,800 --> 00:29:06,080 Speaker 1: you're a woman and you know that you're pitching something 547 00:29:06,080 --> 00:29:09,080 Speaker 1: that's a female product, do what you know like Jenn 548 00:29:09,120 --> 00:29:11,720 Speaker 1: and Jenny did to get through to the male investors 549 00:29:11,760 --> 00:29:15,600 Speaker 1: and say, ask that same wife how many events she 550 00:29:15,640 --> 00:29:19,040 Speaker 1: goes to and how many outfits she's bought, and quantify 551 00:29:19,200 --> 00:29:21,680 Speaker 1: you've seen the credit card receives and turn it into 552 00:29:21,720 --> 00:29:24,960 Speaker 1: a way that resonates for that person, and then you 553 00:29:25,000 --> 00:29:26,840 Speaker 1: will see you can then bring them over to the 554 00:29:26,840 --> 00:29:30,240 Speaker 1: other side. You're not going to drive a winning argument 555 00:29:30,280 --> 00:29:32,880 Speaker 1: by just only using your point of view. It has 556 00:29:32,920 --> 00:29:34,880 Speaker 1: to resonate for the person on the other side who 557 00:29:35,000 --> 00:29:36,960 Speaker 1: is in the position of power. If it's the money, 558 00:29:37,000 --> 00:29:40,240 Speaker 1: their money that you want, um, so use that. Use 559 00:29:40,280 --> 00:29:42,040 Speaker 1: the fact that you're unique, Use the fact that you 560 00:29:42,160 --> 00:29:45,120 Speaker 1: understand who's in that room and how they think, and 561 00:29:45,160 --> 00:29:48,280 Speaker 1: then quickly follow up. If they ask you to follow 562 00:29:48,360 --> 00:29:50,280 Speaker 1: up and say, hey, I would love you know, to 563 00:29:50,320 --> 00:29:53,600 Speaker 1: take a call, send me some materials. Don't spend a 564 00:29:53,640 --> 00:29:56,000 Speaker 1: week and a half making the perfect set of materials, 565 00:29:56,120 --> 00:29:59,280 Speaker 1: put together fifteen slides are less, and send it over 566 00:29:59,440 --> 00:30:02,280 Speaker 1: quickly so that you keep that momentum going because they're 567 00:30:02,280 --> 00:30:04,240 Speaker 1: going to be inundated and they want to have you 568 00:30:04,320 --> 00:30:08,320 Speaker 1: freshen their minds. So quick follow up, uh short follow 569 00:30:08,400 --> 00:30:11,840 Speaker 1: up and answering the questions that were asked and then 570 00:30:11,880 --> 00:30:15,680 Speaker 1: turning it into making it. Um really feel like it's 571 00:30:15,680 --> 00:30:19,800 Speaker 1: about building that relationship with that person over a long term. 572 00:30:19,880 --> 00:30:23,320 Speaker 1: You're not going to get funded in one conversation. Getting 573 00:30:23,440 --> 00:30:26,920 Speaker 1: capital adventure space takes time and it takes relationship buildings. 574 00:30:26,920 --> 00:30:29,320 Speaker 1: So don't think it's like it's going to happen in 575 00:30:29,320 --> 00:30:31,760 Speaker 1: a week. It might take It might happen, but if 576 00:30:31,880 --> 00:30:48,760 Speaker 1: chances are it's months that you're looking at. Black TEG 577 00:30:48,760 --> 00:30:50,760 Speaker 1: Green Money is the production of Black and the Affro 578 00:30:50,920 --> 00:30:55,560 Speaker 1: Tech Black Effect Podcast Network and Nightheart Media produced My Morgan, 579 00:30:55,640 --> 00:30:59,760 Speaker 1: Debon and Blue Lucas, with the production supported by love 580 00:30:59,800 --> 00:31:03,840 Speaker 1: Be Ruscell Lewis. Special thank you to Michael Davis and 581 00:31:03,880 --> 00:31:07,240 Speaker 1: sakasavan Jan you know like the wine. Yes, that's just 582 00:31:07,400 --> 00:31:11,160 Speaker 1: really learn more about my guests and other techis represent 583 00:31:11,320 --> 00:31:14,400 Speaker 1: innovators at afro tech dot com. The video version of 584 00:31:14,400 --> 00:31:17,280 Speaker 1: this episode is on YouTube right now, so tap in, 585 00:31:18,640 --> 00:31:21,040 Speaker 1: enjoy your Black Tech Green Money, leave us a five 586 00:31:21,080 --> 00:31:26,000 Speaker 1: star rating on night tunes. Go get your money. Peace 587 00:31:26,040 --> 00:31:26,360 Speaker 1: of love,