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Why Women Don't Talk About Money · Not All Business

0:00
Welcome to Not All Business, a podcast by two former CEO's who
0:04
went from competitors to friends.
0:06
I'm Blakely Graham and my Co host is Heather Cooper and we're
0:09
joined by our producer Clay, who keeps us going from off the
0:13
rails most of the time. Today we're talking about the
0:17
conversation. Women aren't having money.
0:20
Women are about to control unprecedented wealth, but we
0:24
still can't talk about it. The silence is costing us.
0:35
All right, we probably should keep our banter a bit tight
0:38
today, Heather, because we're running a little behind.
0:42
Thanks, Clay. What?
0:44
The hell people don't it. Doesn't matter to.
0:46
Other people, it doesn't matter to anyone listening.
0:49
Now here's what's happening. Here's I'll tell you exactly
0:51
what's happening. What's happening is I'm getting
0:53
texts on the regular. Who's your producer?
0:56
He's so good. Can I hire him?
0:58
So it's I think it's getting to his head a little bit.
0:59
And I think now he's like getting to be this
1:01
perfectionist. Let's get this just perfect
1:04
because he's getting more business out of us.
1:07
So I think at. Least two or three shows as
1:10
well, so. You better keep your.
1:12
Dumped. Priorities straight play OK, Can
1:15
you imagine he's like guys, I'm so sorry.
1:16
I'm I'm on location with left Maine.
1:20
This week OK, so wait, what if I what if like during this podcast
1:24
I get a phone call for like a business opportunity and so I'm
1:27
just. Like, find out why don't you
1:30
find out what happens? You have to.
1:32
Understand. OK, so Heather has done
1:35
something that she has been able to wield over me her entire
1:38
life, my entire life, which is that she says see what happens.
1:43
Or did you notice the switch in her voice?
1:46
It went a little lower and there was a threat.
1:48
And that is how I have been living in fear.
1:53
So you've been bullied since childhood class?
1:57
No, no, he's been lawyered. It's my lawyer face.
2:00
Anyone who knows and loves me, they know I can slip.
2:02
He said childhood. It's not like you were a lawyer
2:04
when you were 10 years old. You've been bullying Clay.
2:07
Were you alive then yet, Clay? I don't think.
2:09
So I'm 51, how old are you? I'm 35.
2:14
See. Not not alive.
2:17
I was a lawyer pretty much since I met you.
2:20
It's just a tone. I it's OK.
2:21
I know, but it's hey, it works. It's very effective.
2:25
Thank you. It works and also thank you for
2:27
the referrals. You're very welcome.
2:30
I will continue to make them as long as I see that it's in in my
2:34
best interest. How did we get on this?
2:36
Because Blakely was like, we're late.
2:37
I don't know. And now I should get a kickback
2:39
of this too, which I haven't even negotiated but.
2:41
He I told you later, he needs to be running these through our
2:45
media company. This is ridiculous.
2:47
And media. You'll actually be hearing from
2:50
my lawyer about that and my legal.
2:53
Let me just put on my other hat. And my legal counsel is Heather.
2:57
Yes. Heather Cooper.
2:59
Yeah, Yeah, that's right. All right, Heather, what's the
3:02
update? What's going on with you getting
3:05
over my sickness? My annual.
3:08
Sickness like post my. Dreamforce sickness.
3:11
Yeah, I had a fever yesterday. Fought it down though I had I
3:14
had a dangerous amount of vitamin C.
3:16
Am I? Do I look a little orange today?
3:18
Did you do that IV liquid one that my last guest was talking
3:23
about? All day, No.
3:24
And I thought about it and it scared me to think about my
3:27
blood looking hot pink outside my body.
3:30
It's not there yet. But no, I think like six of
3:33
those emergency packets. I don't know how many you can
3:35
take in one day, but I feel like I pushed it.
3:38
Doesn't one of those have like 6000% of your daily dose of
3:43
vitamin C? So then you took six of those?
3:46
Yeah, I had 36,000. I feel like our guest is going
3:50
to be able to weigh in on this. She's a super healthy nut
3:52
person. I was like, are you taking it
3:54
with a fat? Because vitamin C is fat
3:57
soluble, so it's better to do a liposomal delivery of vitamin C
4:02
than it is, well, those packets. Then good news for me.
4:05
Yes, because I had it with a piece of pizza.
4:08
There we go. I'm still worried about your
4:11
health, Heather. I know you, you should be.
4:14
Remember that keep. In mind our our group chat is
4:16
called Protein Posse. There's not that much protein in
4:19
pizza. So.
4:20
True. Oh, we're oh, so you were on the
4:22
text message thread. I don't know if this ever went
4:25
live on the podcast, but we did record a session where Heather
4:30
was trying. She was pre wedding.
4:33
She was really working on trying to get her protein up and so she
4:36
went to McDonald's. We all do.
4:39
She was on a text. This is the chat that I.
4:41
Texted OK, OK, OK, so. The and I said this is me trying
4:44
so I was like I googled how many grams of protein in 1/4 pounder
4:49
and then versus what I would. Normally shaming you because you
4:53
did. She did pretty.
4:55
Bad. Yes you did.
4:56
No I didn't. Anyway, it has more than two
4:59
cheeseburgers. So anybody out there wanting to
5:02
increase your protein, go with 1/4 pounder versus the two
5:05
cheeseburgers because you'll have more protein.
5:08
What's my PSA? Oh, sorry, there's Haifa just
5:13
left. I don't know.
5:13
Was it something we said or? She's so offended.
5:19
I did actually just on the protein conversation.
5:21
I did just see an ad for instant ramen that has protein like in
5:27
the noodles. It's gone extreme at this point
5:30
to be honest. Protein in everything, right?
5:33
Protein, yeah. Yeah.
5:35
I have a powder that's like a protein water, no joke.
5:39
That's. Tastes like lemonade.
5:41
It's lemon flavored so it's like.
5:44
Yeah, but with the GLP, one thing, it's like all of the
5:47
stuff is coming out, like here's how to get your protein if
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you're not hungry. I mean, that's the whole next
5:50
phase of this because Hostess is about to go out of business.
5:53
They did put together a protein doughnut, by the way.
5:57
They were a client of Cloud Coach.
5:58
So they sent us a whole shipment of protein slash energy
6:04
doughnuts. It was like a new thing.
6:06
I don't know if it ever took off, but they're scrambling.
6:09
They're scrambling. I think Hostess has been
6:11
threatening to go out of business for the last 30 years
6:13
so. Yeah, but this is the first time
6:16
that the whole, you know, third of the world is on these.
6:20
Drugs now on GLP ones yeah, yeah, that's an interesting
6:24
topic. Maybe we should be covering that
6:26
soon. It's very controversial, at
6:30
least in my demographic. My.
6:33
What's your demographic again? Academics and athletics, nothing
6:39
else, no culture. That's it.
6:41
That's what I call it, which is actually not true.
6:44
I went to an inaugural music festival in Boulder the other
6:48
day and let me tell you people, people do not move to Boulder,
6:52
Co or Colorado in general for the music scene.
6:55
They don't. I mean, you guys are from
6:57
Detroit music scene. I'm from Seattle, big music
7:00
scene, Colorado, and we don't have a really an art scene.
7:04
We don't have a culture scene. We just not cultural signal.
7:07
I guess what I yes, that is what I mean, but music.
7:10
And so there's this group that Scott and I have been kind of
7:13
connected with going to shows our son plays at their like
7:17
their warehouse and they like when piggybacked on top of
7:22
Sundance because we acquired Sundance.
7:24
That's happening next year. So that'll be interesting.
7:27
I mean, that's like our first big it's a big deal adult step
7:30
into I guess, culture and they teamed up with, I think one of
7:35
the venture partners from Sundance and decided to start a
7:41
music festival. So that is what we did for the
7:43
last three days is probably why my eyes are.
7:45
So red. We just saw so much music and
7:48
here is what was so cool about it.
7:51
I'm totally taking over this conversation because I love
7:53
music so much and I have new posters.
7:56
I will change them up next week. Half of the live music we saw
8:01
this weekend, or more than half probably, were bands from
8:05
Colorado and they. We're.
8:08
Good really so good like watch for them they are going to go
8:14
somewhere at least one of them for sure.
8:16
I know they they're just going to take off and so.
8:19
From all over Colorado, or. Yeah, from all over 1 here.
8:24
I'll list my top three favorites just so everyone can listen.
8:27
I I need to put together a playlist.
8:29
Well, one actually. I saw the week before called
8:32
Dead Pioneers. They are from Denver.
8:35
They are kind of rooted in the Indigenous experience.
8:40
So very kind of justice cultural like commentary.
8:46
I would say a little bit punk, so like a little bit angry.
8:51
The lead tracks just as commentarians.
8:53
It's like a little spoken word. What justice commentary,
8:57
cultural commentary, like what? What do you call like?
9:00
Like social justice? Yeah, I guess so.
9:04
Like, they talk a lot about, you know, their position on land
9:10
use, right? And they talk about land, land
9:14
dedications and the performative nature of them.
9:17
Just really the thoughtful stuff that makes you think that was
9:22
cool. The one that we saw at this
9:25
festival, another one was called 2 MX 2.
9:29
Now these folks, I am telling you, they are going somewhere.
9:33
They are also they're they're Latin X.
9:36
They are like hip hop, rap, punk rock all into one.
9:41
And they also have a very so good, so good.
9:45
They're from the San Luis Valley.
9:47
They have very much a justice message, but theirs is like
9:54
wrapped up in like hope and joy and positivity, which is a very
9:58
different flavor. Like they both have a place, but
10:01
it was so powerful. They are they are going to
10:05
skyrocket. I know it.
10:06
And then the third band, Banshee Tree, which if Americana is a
10:12
genre, I'm not sure if it's an official genre yet, but that's
10:16
my kind of like easy listening music and it was phenomenal.
10:20
They were. So your easy listening music is
10:22
Banshee Banshee. Tree banshee tree I just like
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there's a power. Back in my rocking chair, women,
10:30
all your knitting. Drum set and it was so cool.
10:33
It was. Like that I like a female
10:35
drummer. Yeah, yeah.
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It was such a good weekend. Red eyes.
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Now I didn't need vitamin C, but I bet you I would have stayed up
10:43
a lot later if I did have it. Hey, have you ever gone to a
10:45
rage room? I went to a rave.
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Is that the same thing? No.
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It's not the same a rage room where you go and you bust shit
10:53
up with a bat. I like to.
10:56
Suppress my rage. Keep.
10:58
It on the inside I'm taking you to a rage room so you.
11:00
Need the. Rage.
11:01
Room I. She's.
11:04
Inside, unfortunately, she's like, I'm raging right now.
11:07
Rage. From the inside out, No, you
11:09
just go in there and they put, they give you some goggles and
11:14
you get to pick your weapon. So they've got crowbars, they've
11:16
got bats, they've got hockey sticks, anything you could
11:19
hammers. And then there's plates.
11:22
And you actually buy like you can buy, of course, they're
11:26
making money on this. So you can buy like I'll take
11:28
the $25 set, I'll take the $100 set.
11:30
And it's like more dishes. If you really want to get nuts,
11:33
there's like TV's. And so we went as a team a while
11:36
ago until you just put all this stuff and then you just go to
11:40
town and you're just busting stuff up.
11:42
You're throwing plates against a wall and it crashes all over.
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Feels so good. It's so good.
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Because you can't. Do that normal life.
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Talk about the environmental justice band I saw who would not
11:55
like all these plates being crashed.
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Look. They're they're, they're going
11:59
in landfills anyway, so they're just going to go in smaller
12:02
pieces. So let's produce more.
12:04
I. Just I feel like Heather, you
12:06
didn't go to the music festival. It sounds like you need.
12:09
You should have gone. I really missed.
12:11
Out. It's like natural rage release,
12:14
right? Is this a symptom of like desk
12:17
job culture and not being able to talk about what you need to
12:22
talk about at work? Like you are bringing like a
12:26
false self. To I'm just going to say I'm I'm
12:30
feeling shamed right now. No, actually, I think it's
12:33
really I'm feeling Heather, Heather.
12:35
Going on the defence right now, I feel like you're not hearing.
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I'm hearing you. I mean, you're telling you I
12:41
would have been such a good alpha, Gen. alpha or whoever it
12:44
is that they need to hear that be heard all the time.
12:46
I was a Gen. X.
12:47
Nobody gave a shit what I had to say, you know?
12:50
The kids that. They need to be.
12:51
I would have been so good at milking every second out of that
12:54
though. I'm not feeling like you're I
12:57
shouldn't make fun of it. That's generational
12:59
discrimination. I oh, who says we can't do that
13:04
on the show? I don't know.
13:06
I'm going to go ahead and say as a member of a different
13:09
generation that we shouldn't do generational discrimination on
13:13
this show. But we shouldn't do
13:14
discrimination. That is my position we.
13:16
Can make fun of Gen. Xers like if you.
13:19
We are so we can make fun of them.
13:21
So Heather, here's an idea for you.
13:23
And This is why I'm not shaming you.
13:24
I'm really listening. We've been talking about not all
13:27
business like retreats and road shows and and we don't want him
13:32
to be like boring sessions. We want to be interactive.
13:34
So we've got like our last, I guess Alden's going to teach us
13:37
breath work. We had like another really cool
13:42
person who was going to do like an interactive, we do
13:44
interactive resume writing. What if we do like interactive,
13:48
like rage? We can do that.
13:49
We can add it, add it to the agenda.
13:51
We want to do fully immersive experience.
13:53
Not all business roadshows we're going to.
13:55
Also mushrooms, let's do that too.
13:57
We are not. I've never done that.
13:58
Why? I think it.
13:59
I've heard good things. I've never done it.
14:01
Yes. There's a lot of mushrooms at
14:03
the rave I went to on Saturday night, which I did not talk
14:06
about because they not from. You kept saying, OK, so Blakely,
14:09
you kept saying that your eyes were super red, but you weren't
14:11
being specific about why they were red.
14:14
And I just wanted. To are you on the substances?
14:18
Give you a moment. When you are in a stadium with
14:21
30,000 people that are on the substance, it just gets in the
14:24
air. So and so I I have very dry eyes
14:27
from the air. I did not I didn't even drink.
14:30
Here's that. Here's.
14:30
Blakely here's Blakely at the concert doing her breath work.
14:33
Like, like sucking in as much as she can.
14:37
She's she's like, OK, here, let me take a super deep breath.
14:42
But well, I'll tell you the truth, I wasn't drinking.
14:47
And so I did try to inhale a little bit of my neighbor's.
14:52
Their breath work. Yeah, yeah, your sharing output,
14:56
yeah. Did it work?
14:57
It's true. It's true.
14:58
All right, we should. We have a tight agenda because
15:01
our guest is going to talk about a lot and so I'm going to bring
15:07
her on. What do you think?
15:09
Should we get down to business? Yes, yes, yes.
15:14
I needed confirmation and affirmation.
15:17
OK, yes. All right, go for it, Red.
15:20
Ears. OK, shut up.
15:24
I mean, I have to pull up my. She's already been part of the
15:26
conversation anyways. Too fun.
15:28
We got to keep her in. Our guest today is Haifa
15:30
Aboucare, Principal at Range Ventures, a Denver based VC firm
15:35
for Clay that stands for Venture Capital.
15:38
She's one of the few female VCs out there, folks.
15:42
Women make up only 9 to 15%, depending on which study you
15:46
read of VC partners. But Haifa didn't start
15:50
investing. She spent 15 years as an
15:53
operator building and scaling teams at startups.
15:56
You've probably heard of Gusto Rupa Health.
15:59
She's also super big, like big nerd on health, fitness and
16:04
nutrition. It's very fun to get her going
16:07
on this topic. She believes in the whole person
16:10
approach, not just the hustle. And that combo operator turned
16:15
investor who actually gives, I'm going to say gives a rat, well,
16:19
I just did gives a rat's ass about health and sustainability,
16:22
gives her a pretty unique lens on how women, money and venture
16:28
capital actually like intersect. Oh, Clay's not going to like
16:32
that. I just touched.
16:33
My, we're keeping it in. All right, Haifa, welcome to Not
16:37
All Business. Hi everyone, Blakely here.
16:44
This episode of Not All Business is brought to you by yours
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truly, where strategist Cindy Forgard helps growth minded
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mention Not all business for complimentary strategy
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consultation. OK, back to the show.
17:39
Hi, Haifa. Welcome.
17:43
Hello. Hello.
17:44
All right, what's your push up count?
17:46
Oh, not push up, pull up, pull up, pull up.
17:49
I don't. Your push up count's probably
17:50
like 100. Thousand I've I've I've crossed
17:52
the chasm of weighted pull ups, which has been very.
17:57
What is that like? You're wearing a weighted vest
17:58
situation? I can't with a walk around.
18:01
Like weight of a belt with a. Like.
18:03
A kettle bell. A big ball.
18:06
Like hanging down the table just like a plate.
18:10
Hold on a minute. Is this because OK this is this
18:14
is blowing my mind. This is because your weight is
18:17
not enough to be a challenge anymore, so she needs to add
18:23
weight to to her body to still stay challenged.
18:28
Oh my God. And I'm.
18:29
Mine this is like year 3 so this has been a very slow progression
18:34
and. I've I've been doing this for 15
18:36
years. I can't.
18:39
You've been trying to pull up for 15 years.
18:42
I've been trying you can. Do more one up lately. 1.
18:45
We could get you, we could get you higher.
18:47
I think the most recent round of training I'm in I haven't done
18:51
like how many reps can I do in a row in a while, but I've been
18:55
doing 4 weighted pull ups and it's like 6 rounds of supersets
18:59
with weighted dips. You are so bad ass and you're
19:05
only one of 10% of people in your role.
19:09
Like badass badass, badass badass.
19:12
My new favorite muscle group are back muscles.
19:15
Back muscles. Talk to me about that.
19:17
What do you mean like you're that's where you're focusing
19:19
right now? Well, I think people often think
19:24
pull ups are arms. It's all back.
19:28
People say the way to like, think about a pull up is you're
19:31
not like using your arms. You're kind of like putting
19:35
pressure on the bar as if like you're going to break the bar so
19:39
you can feel it in your lats. So like my trainer tells me that
19:43
you're using your back versus your arms.
19:45
That's what I've been doing wrong.
19:47
Sorry everyone's doing this so I got to do it too.
19:49
I just learned how to breathe last week.
19:51
So, so my trainer says to like push back, like come off the
19:55
bar, like lean back a little bit and that way you're engaging
19:59
your lots more. It was like a good cue for me
20:01
not to just kind of do this right.
20:03
Just like scrunching back, yeah. My trainer says to stop eating
20:07
McDonald's. And there are progressions you
20:10
can do right, like to help build towards the pull ups, like a
20:14
chin up is different than a pull up, like neutral grip is
20:17
different than the wide grip versus like there's all sorts
20:20
of. If someone is starting, let's
20:22
just say someone can't do a single pull up, where would you?
20:27
Recommend with that on this show.
20:30
I can do one. I can do one right now.
20:33
My Max in my life, at one point I was able to do 6.
20:36
I just wanted to say that on the record so that for for the next.
20:40
You should be very proud of that.
20:41
You want to be right there. Thank you, that's impressive.
20:43
I can only hang off of a monkey bar for so long.
20:47
That's where I'm at. OK, so Heather, that's.
20:49
Actually also very impressive, Heather.
20:51
Really. That's like grip strength is
20:53
huge. So for Heather, if she wants to
20:56
get into being able to do 1 pull up, Yep.
20:59
How should she start? OK, there's a couple different
21:03
like progressions. Like you can just be like, you
21:06
can like have the bar on like the squat rack and like pull
21:10
like you'd be like underneath the bar and just like you're
21:13
pulling. So you're like slowly building
21:16
your back muscles as one part of the progression?
21:19
My standing that the. Same.
21:23
Am I laying down? On the you're kind of like
21:24
hanging. Or my.
21:25
Feet are in front of you. Okay, and then?
21:28
I mean honestly doing like using a band or using one of the
21:32
machines that have like assisted.
21:33
Pull ups just to start to like build the like those muscles
21:38
string there. Yeah, yeah.
21:40
So like you can, you know, figure out the right weight for
21:43
the assistance. So you're still doing a pull up,
21:46
you're just not doing your full body weight because it's
21:49
counteracting. And then you can slowly like
21:51
decrease that weight. Is there a way for me to start
21:55
doing this? Laying on the floor for a
21:57
certain amount of time every day?
21:58
Stretching. I feel like I could.
22:01
Really be better off like doing grip strength and like hold
22:04
hanging. Yeah, hanging.
22:06
No, I have a tonal machine. It's great, but it's good for
22:10
biceps and not Yeah, I can't hang off that.
22:13
It's not good for bench press. All right, but be I'm going to
22:17
report back. Turn off the safeties together.
22:21
Turn off the safeties. What does that mean?
22:25
Don't you remember when your tonal machine almost killed me?
22:28
Oh yeah. Well, I never heard about this.
22:30
What happened? It was on a turn date bench
22:34
press. Yeah.
22:35
It was like on her, yeah. I got her up to my bedroom.
22:38
Her. Tonal yeah.
22:39
And she goes, are you? She asked me if I was ready and
22:44
she had turned off like the safety and the total machine
22:47
just like I had like 100 lbs like drop on my.
22:53
On her neck. I was like, I thought you said
22:57
you were ready. Not ready for £100?
23:02
Please don't feel blankly. I didn't know how strong you
23:04
were. You're always dragging about it,
23:07
but. Obviously not that strong yet.
23:09
Then you taught me how to. That's when she said.
23:11
Start the podcast with me and I'll make it all go away.
23:13
I was. Just yeah, in a very calm voice.
23:18
All right, Haifa, we have a lot to talk about and I really do
23:20
want to talk about women and money and just like the awkward
23:23
relationship. But I think before we do I, we
23:27
should probably talk a little bit about your job because I
23:29
think it's your story is a little interesting too.
23:32
And just because I have all the numbers like on your intro, I
23:36
said there was only like between 9 and 15% of women are VCs like
23:41
female VCs. The flip side of that is women
23:47
are the recipient of only about and this is a study I read you
23:50
might have different numbers about two to 3% of the money
23:53
coming out of ECS. So there's two like really
23:56
interesting sides there. I think hearing you talk
24:01
passionately about women investing in money and their
24:04
comfort with money, at some point I think you probably got
24:07
some of that passion from just the unique role you're in.
24:10
Or I'm just curious how how is being a female in this very male
24:14
dominated place? VC I mean, I, I unfortunately
24:19
chose the path of like everything in my career has been
24:21
very male dominated being like an operator in tech and then
24:25
eventually I definitely more male in venture than in tech, I
24:32
would say. So like taking the term.
24:34
Finance Bros, right? Like you're not hearing any.
24:37
Finance fems, right? We should have.
24:40
To start, I know maybe we should rebrand.
24:42
Maybe I need to start a finance fem thing?
24:44
Yeah. It is funny though 'cause I like
24:47
forget that venture capital is like it is a finance job.
24:51
It just feels like I still have a weird like relationship with
24:57
even telling people about my job.
25:00
But like, what is that like? What is that like?
25:03
Or is it like, are they are you met with like, oh wow, that's
25:05
interesting. Or like a little bit, I think
25:06
people. Just have a lot of assumptions,
25:08
right? Like, I think so, taking a step
25:10
back, like 1, my parents are immigrant refugees.
25:14
I grew up poor and on the poverty line.
25:16
I did not grow up with financial literacy.
25:18
I didn't even know what the hell venture capital was until I
25:20
started working, like bumbled my way into like, startups and
25:25
learning about, you know, you get equity and like, kind of
25:28
learning about that world. And I'm like, OK, who's like,
25:31
you know, and then having like a very baby, no, fuck you money,
25:35
but like baby liquidity where you're like, huh, who is making
25:38
the money here? Like if it's like the companies
25:41
are doing it, like on this trajectory, they're on this like
25:43
growth path, whatever. And they're having these exits,
25:45
whether that's through acquisitions or IPOs.
25:49
Do you need me to explain IPO since it's an acronym OK on the
25:54
stock market, you know? Sorry, initial public.
25:59
Offering initial public offering, yeah.
26:00
Correct. Yeah, initial public offering,
26:02
yeah, IP OS, which is like one avenue of liquidity that a
26:06
company can have. Others are through private
26:10
equity investing like mergers and acquisitions or the company
26:15
dies or just like stays stable and it doesn't really like
26:18
return much capital. So personally, because of how I
26:22
grew up, I was like very much on the, even though I didn't have a
26:26
ton of financial literacy, it was like very aggressive about
26:29
like climb the ladder, make more money because like I thought,
26:32
you know, that was that my biggest like fear and insecurity
26:37
is financial insecurity. So like I anchored on that as
26:40
like a North Star. We've like recalibrated things.
26:44
That is still an instinct, like still like, you know, in the
26:47
psyche. Absolutely, I get that.
26:49
But. Finding my way into venture,
26:51
right, like, well, wasn't necessarily an accident.
26:54
I was very, very intentional. I legitimately like stocked the
26:57
partners at the fund when I was like, I'm ready to leave
27:00
operating. I don't know, Blakely, if I've
27:02
told you the story, I think I have, maybe.
27:04
Yeah, you know my limited, limited brain cells.
27:08
So tell us a good. Especially after that concert,
27:11
yeah. When I left full time operating,
27:14
I started my own like fractional business and I was like, oh, OK,
27:17
I can work with all these different companies.
27:19
I wonder if I can find a way to get equity in these companies,
27:22
whether through like advisory shares, etcetera.
27:25
Hard Like it's pretty hard as it should be like you should be
27:28
really thoughtful about who you give some ownership to in your
27:32
business. But that was kind of my
27:35
intentional, like stepping stone into I want to like make my way
27:39
into venture and I can go into like some of the stuff that you
27:44
were you touched on Blakely. But I the fun that I work at is
27:48
a Colorado focus fund. So we're really like anchored
27:50
into the like community here. And they used to host these
27:54
quarterly women in tech events. And the only guys at the event
27:57
are the two partners at the firm Classic Classic.
28:01
I. Know yeah.
28:03
And I legitimately accosted one of the partners.
28:07
I was like shared what I was doing in my consulting business
28:11
and this was like coming out of COVID.
28:12
So I was like, I'm not generally A socially awkward person.
28:14
I was mortified afterwards. Like did I just scare this man?
28:18
Did that come on too strong? Because it's like aggressive,
28:22
like I must introduce myself. We must know each other.
28:25
Hopefully I do work with some of your companies as like clients
28:28
and my consulting work and it actually like handout.
28:33
Now keep in mind like people are like I get asked all the time,
28:35
like how did you get an inventor?
28:36
I'm like, this is not a copy and paste.
28:38
I don't think most careers are like I'm going to follow exactly
28:41
what you did and I will be able to do the same thing.
28:44
It was genuinely like I had worked at a ton of different
28:47
startups from like first employee all the way to like
28:50
just pre IPOI had been across different stages across
28:54
different industries. So it's just like, what would
28:56
some people would look at like, oh, she moved around a lot and
28:59
like, how do I like thread this together?
29:02
I could thread it together, right?
29:03
Like I was opportunistic. I'm like, climb the ladder, make
29:05
more money, get more exposure, get more experience, change
29:08
your, you know, like as you're in your 30s, you're like, or
29:11
your 20s, you're figuring out what you like, what you're good
29:14
at. And then you start to like
29:15
narrow in on that in your 30s and now, you know, almost 40.
29:19
I'm like, OK, like I all of this is a culmination perfectly
29:23
suited for now what I'm doing as an investor.
29:27
Not a lot of women in this space and not a lot of like financial
29:31
literacy. It's not even just like women as
29:34
venture capitalists. There's not a lot of women
29:37
investing capital into venture capital funds.
29:41
So, you know, where does the money come from that we invest
29:45
in the companies? They're called limited partners
29:47
LP's. And those LP's, you know, I
29:49
remember when I first joined Range and I like, looked around
29:52
the room and I'm like, this is a sausage fest.
29:55
Like every dude. Like it's a room full of white
29:58
dudes. And I'm like, where the fuck are
30:00
the women? Like, I know all this data.
30:02
Like, women carry a lot of wealth.
30:05
We're in the middle of a huge wealth transition.
30:08
And I just was like, baffled. Like how are not more women
30:13
investors into venture funds, let alone VC's?
30:17
I have numbers on that numbers on that.
30:19
So you guys hear this out. Women are about to control 34
30:23
trillion dollars, 34 trillion in investable assets by 20-30.
30:29
That's five times from a decade ago.
30:32
And just according to and I'll, I'll drop these on the show
30:35
notes for you guys, but only 25% of women say they take the lead
30:41
on financial planning and only half of them have ever opened an
30:47
investment account. That is incredible to me.
30:51
Incredible. So where's, where's the initial
30:54
stat coming from the 5th? What did you say 54% is just
30:58
because we're living longer or like where's that?
31:01
Where's that trans? Why are we, why are, why do we
31:03
have $34 trillion in investable assets?
31:08
Yeah, yeah, the great transfer, yeah.
31:13
So we we don't know why, it's just, it's just people, so.
31:16
Women live longer than men. People are dying.
31:19
So the money is being like turned over to family, to
31:23
spouses, to etcetera. I mean, there's a combination of
31:25
a bunch of different things. But like, yeah, that is like, I
31:28
think part of it is like women tend to live longer than men and
31:32
the women are inheriting the wealth or earning.
31:36
Like now we have more women also earning more wealth than we've
31:40
ever had before. So it's a, I think it's a
31:42
combination. I don't know.
31:43
Blake got it. Did you have something
31:45
different? In the I think that's the
31:47
biggest wealth transfer for sure.
31:49
Got it. You know, and then Congress
31:52
women like us kind of making money, I guess.
31:56
Yeah, we have so much shopping to do and plastic surgery.
32:00
It's funny, I do have that on the agenda, but.
32:03
They're that's so crazy. Wow, that was a joke.
32:07
Everyone. Obviously we're going to do
32:09
other things with the money, but that's what people would think.
32:13
We are, but when I remember went right shortly after I met Haifa,
32:19
she invited me to one of her women and investing forums,
32:23
women's groups. I can't, I can't remember
32:24
exactly, but I had just sold the company, so I had amassed a bit
32:30
of some wealth from that. And how?
32:32
Much. Exactly.
32:34
A little bit and a little bit and I honestly, I was a finance
32:40
major, you all, I was a finance major.
32:43
I've done, I can run AP and L like nobody else.
32:47
I can budget, I can CFO, I can do all that stuff.
32:50
Profit. And loss my statement profit and
32:54
loss CFO, Chief financial Officer.
32:56
And if he's listening, I apologize because I can't really
32:59
CFO, but I'm I'm pretty good at a budget and I had this check
33:04
and I didn't know what to do with it.
33:07
And so I and, and not only did I know what to do with it, I ended
33:11
up hiring some financial advisors, which are two women,
33:14
badass women by the way, which I think is part of the reason why
33:17
part of the reason why I hired them.
33:19
But I also like put my husband in charge, which is weird like
33:23
for me and because I just didn't want to get in the weeds and I
33:27
realized I was legit illiterate and going to that group was a
33:32
little eye opening because I was embarrassed and you're like do
33:35
not be embarrassed. Ask the questions like.
33:38
That was a friendly. Safe environment.
33:39
Because like, so, yeah. And like the crazy thing is, and
33:43
like, I know partnerships is like what helps, like
33:48
individuals take the risks and whatnot, but like, at the end of
33:50
the day, like Blakely, like you exited.
33:52
Mm Hmm. And you're not close to what's
33:57
happening with yours, like you and your husband, your family's
34:01
money, but like money that you put your blood sweat and tears
34:04
into, right? Like, And I kept like learning
34:08
this. I'm like, what the fuck?
34:09
Like I am a psycho with my own finances and I'm still learning
34:15
to be very clear, like I am expanding my own financial
34:18
literacy. But like women don't talk about
34:21
money. They don't talk about investing
34:23
money. They don't open doors for other
34:25
people to invest money. They don't, they're more risk
34:29
averse. Which, you know, I, we were
34:33
fundraising for our fund. I would have conversations with
34:36
women who were financially independent, like retired, like
34:41
had a ton of wealth. I would have like 6
34:44
conversations with them and they're like, I can't do it.
34:47
And like my my colleagues, 2 guys would go to lunch with a
34:52
random like introduction from a friend.
34:53
It wasn't even like a fundraising conversation.
34:55
They'd walk out of that lunch and that persons committed and
34:58
they're like signing the papers the next day.
35:00
And I'm like what the fuck? Why is it so much easier for the
35:05
boys to just be like, hey, there's this opportunity you you
35:08
want in where when I was like, hold on, let's have like 27
35:11
conversations, Let's deliberate. Let me go back to my husband.
35:16
I totally get the like partners making financial decisions
35:18
together. Absolutely.
35:20
But I'm also like, you're smart. Like what do you want to do?
35:24
Like, and what's holding you back?
35:26
Like, let help me understand that.
35:27
And like let me educate you on this asset class just so you
35:31
understand and you have the option.
35:33
You can choose no and I'm fine with that.
35:37
Yeah. But like, but let's educate.
35:39
This didn't start with investing, right?
35:41
Like, I feel like women have a hard time negotiating.
35:43
They feel like they're bragging. They have a hard time talking
35:46
about money in general. You know, they feel guilty maybe
35:50
for having it, asking for a raise.
35:52
Like that's tough for women. Like all these things are tough
35:55
for women. So like, why?
35:57
I mean. Well, I this.
35:59
Is part where I'm like I don't know, someone tell me.
36:00
Why I think a lot of it is, I think it's conditioning.
36:04
I think it's conditioning, I think it's societal
36:06
conditioning, especially in our generation of how we are raised,
36:09
of what it looked like, who's the main breadwinner, who runs
36:12
the money, who's helping out at the house.
36:15
So that's just, that's just the facts of life of, of how we are
36:18
raised. And then if you were outside of
36:20
that, which I was raised with a single mom for a big chunk of my
36:23
childhood and you know, kind of that poverty line, not the
36:27
entire time, but for a good chunk of it when she was ill,
36:30
saw what it meant to live on welfare and those kinds of
36:33
things. And so it was this kind of
36:34
overall weakness of where we just had to be taken care of by
36:37
the system. She totally came against that
36:40
and had butted it and like started her own business and was
36:42
very successful in that way. But it was overcoming all of
36:45
these initial stereotypes. She was a beautiful woman.
36:48
She had to overcome a lot of things in that to be taken
36:50
seriously. But those things create just a
36:55
sense of inner of, oh, I must not note like that confidence
36:59
from a very young age is not there versus messages that, you
37:04
know, our counterparts and men were created and was like, Nope,
37:07
here's how you do it. Here's how you run it.
37:09
And with my kids, I tried to give them that literacy as early
37:13
as possible. It's just like, here's you save
37:15
some, you give some here, you live on the rest that that type
37:19
of thing. But it has you have to be so
37:20
intentional with it from a very, very young age, and I think we
37:24
missed out on that as women. I think you're right.
37:27
I think that is a confidence issue.
37:29
And how do you solve confidence issues?
37:30
I think one of the first steps is education.
37:33
And so that is where like this literacy piece comes in and
37:37
it's, but it's, it's kind of daunting.
37:40
Like there's a lot of like I have and I talked about this and
37:44
we talked about this on the show before, But like one of the
37:47
first scenarios when you and I met for lunch, I was saying I
37:50
was so intimidated by the investors I would talk to at
37:54
work because they would drop all these terms.
37:56
We were like joking about the dry powder term and like, it's
37:59
just like, I don't. It I even had a Google shit, I
38:03
was like, what the fuck are you saying?
38:04
Yeah. Yeah, but I never felt like I
38:06
could ask the questions. I always had to, like, play it
38:08
cool. Like, I don't know, I know what
38:09
you're talking about. I know what that means.
38:11
And I did. It's the it's the feeling of
38:14
being in the club or out of the club and they just, they just
38:16
make you feel out of the club. And then, oh, by the way, if you
38:19
do mess up, like look at look at Martha Stewart.
38:23
I mean the way that she was hung out to dry as an example of what
38:27
so many other men had been doing for years and it never even made
38:31
the news. And she?
38:32
Just got it like that. Called to.
38:34
Task and serving time and that her documentary is fascinating
38:38
by the way, if you. Haven't seen it, Martha so good
38:41
so. Good.
38:41
She was a Wall Street badass. She, I mean, she was, she has
38:45
done so much. But you think of her and it's
38:48
like, Oh yeah, insider trading. And then you see what really
38:52
happened and how she was betrayed by her internal people.
38:56
It's just they're sending the message of women.
38:58
Just, you know, they're they're cutting the system.
39:01
They're keeping, not playing by the rules.
39:03
Keep them down. Yeah.
39:04
It's systemic. Now look at her man, she
39:07
afforded a good plastic surgeon. She did.
39:12
Some of these women, I'm like, damn.
39:15
Do you guys know Arlen Hamilton? Have you followed her at all?
39:20
She's investor in small business investing, but she spoke at a
39:25
chief event a couple years ago. She's her whole thing is
39:30
minority women investing in their businesses even, you know,
39:33
like starting out with even $50,000 where she like her fund
39:38
will invest because Mark Cuban invested in her because he said
39:42
you will be in rooms I never will be in and having that
39:45
outlook instead of like, who's going to be smarter than us?
39:48
Who am I going to be able to control?
39:49
Expand your reach by investing in places where you would never
39:53
be able to sell in that room and be open that way.
39:57
It's beautiful. Yeah.
39:58
She's got a great book. I'll put it in the notes, too.
40:00
It's called My First Million. Nice.
40:03
Well, and like you had mentioned, like the statistic on
40:06
like how what percentage of women get venture dollars, a
40:10
really spicy hot take as it relates to that stat, which
40:15
makes some people off. That's what we're here for.
40:17
I fucking. Hate that statistic.
40:19
I hate that statistic because, and hopefully this, I mean, I
40:23
guess it's going to make some people happy and some people
40:26
mad. Listen, like I want nothing more
40:29
than to find more women to invest in, but the reality is
40:35
it's not like 50% of venture companies are founded by like,
40:40
it's not like 50% of companies are men, 50% of companies are
40:43
women, and 2% of women are getting the money.
40:46
It's like 95% men and 5% women. And of the 5% of women, and this
40:53
is going to be the extra Spicies part, though a lot of the women
40:57
I meet who are fundraising are and hopefully no offense,
41:01
they're building a mommy business or they're building a
41:03
consumer business. And both of those are hard
41:06
categories to be venture scale businesses.
41:10
They can be great businesses, but they're not necessarily
41:13
falling in line with the venture model, which is like you have to
41:17
have, you have to make the math work.
41:19
Like when you're investing with venture capital, you have to see
41:24
venture size returns. And we're talking like can you,
41:27
can you, you know, we talk about girl math, right?
41:30
Like can you make the math math right?
41:32
Like can you see a path to 100 million in revenue to a billion?
41:37
Plus like, so let's talk about that.
41:39
What? Yeah, like what?
41:40
What are those numbers like? Let's like educate me on like
41:43
what? What does a venture look like?
41:46
I mean at the baseline, like I have to what the market has to
41:49
be big enough for like whatever you're selling to reach like
41:53
venture scale ideally it's not a crowded market.
41:55
So like the hard part is like, are you coming up with a novel
41:59
idea in a big enough market and then.
42:02
What's venture scale like? Like Big Round?
42:06
Numbers minimum, yeah, At minimum, when I meet a founder,
42:09
I have to see a path to 100 million in revenue.
42:12
And that isn't even like that's just like baseline because we're
42:15
early stage fun. You still have to then path your
42:18
way to. Can this become a billion dollar
42:20
business? And.
42:22
So few businesses, I mean so few that can reach that billion
42:28
level. And so a consumer product, which
42:33
there's tons of a lot of consumer products are founded by
42:36
women and they're there are, there are products that reach
42:38
that multi billion level, right. They have to have that virality,
42:42
that repeatability, that repeat purchase like.
42:44
Is that like Spanx for instance? Yeah, or like.
42:48
Skims like retail Skims, yeah. Yeah.
42:51
I mean, clearly products that are consumer products that have
42:54
reached that scale, but for all of those, they're like thousands
42:59
and thousands of companies who tried to build a product that
43:01
was probably fucking awesome but did not have the right time,
43:06
right, like virality and market. Like, you know, I mean, I think
43:10
even Spanx like the found, like she will tell you first hand,
43:13
like perfect timing, like, you know, obviously in a lot of
43:18
hustle, right, like it's time for a shortage of work.
43:21
Yeah. So 100 million is so much, 100
43:26
million. And so when you tell me about
43:28
when you say do I see a path, what does that even look like?
43:31
What like what factors would add to that path?
43:35
Well, like first it's like market size and and demand for
43:39
that solution and then what do you charge for that solution?
43:43
And then what percent of the market do you need to capture to
43:48
initially hit that 100 million? OK.
43:50
So you're looking at the you start backwards from the total
43:53
like the Tam, like the total addressable market and say how
43:55
much of that are we able to get and are you looking for that to
43:59
already be proven out before people come to you?
44:01
Are you investing in idea at venture capital stage?
44:04
Are you, you're investing in like we've already have a
44:07
customer base and now it's just how do we scale it?
44:10
You know, I wish we had like a hard and fast rule.
44:13
Generally we like to see especially in this day and age
44:16
where like you can build shit super fast, like a minimally
44:18
viable product. So people call it an MVP.
44:22
It's a minimally viable product. It's something that is like a
44:26
proof of concept for the thing that you are selling.
44:28
Ideally you have some users, even if it's like some paid
44:33
pilot users or like a path to paying.
44:37
Ideally, like for us, we generally because we're not a
44:41
huge fund, right? If you're like a gargantuan
44:43
fund, you don't give a fuck. You spray and pray.
44:45
You're just like throwing money everywhere.
44:46
Did you say? Spray and pray.
44:49
Yeah, that's like my new favorite thing.
44:52
Yeah. That brain pray model.
44:54
That is gonna be on AT shirt. We're talking about taking
44:56
guests, Guests I. Cannot take credit for that.
45:00
That's a real life general quote.
45:02
I've never heard you can take credit for.
45:04
Saying it on not all business. Let me just say that, yeah, we,
45:08
you know, I, I am conscious of how long we have Haifa and I
45:12
sorry. I well, I just want to get back
45:15
to like we've uncovered the issue.
45:17
We understand it. What do you do for these women?
45:21
Like, how do they even start to get literate, right?
45:24
Like, how do they get educated? What what do we tell them?
45:27
How do we help them? How do you help me?
45:29
Yeah, I so I mean there's so many resources out there and it
45:34
can become like paralyzing, honestly, where you're like,
45:37
where the fuck do I start? So first thing I generally say
45:41
is like, get comfortable learning some of the baseline.
45:45
Do you understand like 4 O 1K? Do you understand like health
45:50
savings accounts, you know, 520 nines if you have kids for like
45:54
college savings and like that's baseline, right?
45:57
Like and even taking a step back from baseline before anything,
46:01
right before you can even consider thinking about
46:04
investing, you need to cover your ass first.
46:06
Do you have any debt? Pay off that debt.
46:09
Do you have an emergency savings account?
46:11
Figure out what three to six months of all of your expenses,
46:15
etcetera is and set that nest egg that's like, you know, pay
46:19
off debt, emergency savings account.
46:22
That's baseline. Start there.
46:24
And then if you don't have those things, work towards those
46:26
things. And then before you go like
46:28
graduate to the next phase. The next phase is like great.
46:31
I've, I have emergency savings, I have no debt.
46:34
And you can talk about like good debt, bad debt.
46:36
There's certain like, and you can look into what's good debt
46:39
versus bad debt, like credit card debt, bad, good debt, like
46:42
probably an asset in the house, right?
46:44
Like and, and student loan debt. That's like low interest fine.
46:48
And so you want to like calibrate around like you may
46:50
not, you can like have an emergency savings and have a
46:55
little bit of debt. But I would just try to
46:57
differentiate between good and bad.
46:59
Like think the high level of good and bad is like what is the
47:01
interest that you're paying on that debt?
47:03
If it's egregious like credit card, which is like 15 to 20%,
47:07
get that off. Like get rid of that good.
47:09
Calories, bad calories, right? Like you stay full longer if you
47:13
eat protein versus like sugar. So like, 1's a good calorie,
47:17
one's a bad calorie good, debt bad.
47:18
Debt Quarter Pounder versus chocolate shake.
47:21
Quarter Pounder, exactly. Yeah, you know what?
47:23
So. Start like with that.
47:25
Yeah, I was going to insert, I make my kids do AP and L every
47:29
single month and part of their PNL is to see if they have three
47:34
months of their average 12 months spending in their savings
47:37
account. And we make them do this before
47:40
we reimburse them for anything like gas or something or
47:43
whatever our agreement. Is and it's like.
47:45
You're head of the those kids are so fortunate, like credible.
47:48
That is like. They're going to walk into any
47:51
job and know how to run APNL. It's going to be phenomenal.
47:54
They. And they probably don't call you
47:56
for money for DoorDash, do they? They you know what?
47:59
They did this all. That is the origin story of the
48:02
PNL Heather. Were they wasting one day?
48:04
I said we are busy, you guys can do DoorDash, it's fine.
48:08
And you know what they did? They ordered from 2 separate
48:12
places on DoorDash. And So what could have been a
48:15
$20 combined bill was like a $60.00 bill because we had to
48:19
pay 2 DoorDash fees, 2 tips, 2 of everything and I'm like
48:23
enough you're not getting reimbursed for those stupid
48:26
decisions. Turn in a PNL.
48:28
Anyway, back to your messaging, Haifa.
48:32
OK so good debt, bad debt differentiate them pay off the
48:37
bad debt get three to six months.
48:40
I'm more crazy and I think it's healthy to have fuck you money.
48:44
To me, the fuck you money is that six months of like if
48:46
you're in a shitty situation and your.
48:49
Money is only six months. Yeah.
48:51
No, no, no. That's like.
48:52
So much fucking. No, no, no, that's that's not
48:54
fuck you money. That's like the fuck you money.
48:56
Like I can quit my job? Yep.
48:58
You could quit your job. Yeah, there's like, then there's
49:00
like, the fuck you money. I could retire, right?
49:02
But this is like base. Rai.
49:03
Is coming for nothing better than.
49:05
Your sixpence. Yeah, I'm not going to grovel.
49:07
I'm not going to feel like I'm in prison.
49:08
I'm not going to be indebted to this.
49:10
I'm going to have self respect, choice.
49:12
Yes, I've. Totally a privilege to get there
49:14
like it is, not for a lack of effort.
49:16
OK, so you got your CYCYA money and I got my fuck you money.
49:21
CYA I remember. That yes, yes.
49:23
Cover your ass. Yes.
49:25
Yeah, cover your and FU means cover fuck.
49:28
You yes, so I think everybody like my preference is like that
49:34
emergency saving is not just like cover emergency expenses.
49:38
It's like cover your ass. Give yourself some optionality
49:41
that if you find yourself in a situation where you're unhappy
49:44
or it's toxic or like you have life circumstances or whatever,
49:48
you can walk away. Amen.
49:50
And it gives you enough buffer to figure out the next thing.
49:53
So that's that's like baseline. Then the next category is like 4
49:58
O 1K ideally through your employer.
50:00
If you're self-employed, you could do a self-employed, I
50:04
think it's called the Sep IRS self-employed plan where you can
50:08
contribute pre tax into those cat like into those buckets.
50:13
Those are helpful because it reduces your taxable income and
50:16
can influence the tax bracket you fall into.
50:19
So that's like a helpful thing to be like I'm I'm walking the
50:22
line between a higher tax rate on next tax rate.
50:25
Like you can lower your taxable income by putting money into a
50:28
four O 1K or 4O3B depending on the type of like if you're
50:33
working for a nonprofit, generally it's four O 3 BS.
50:36
If you're working for like a private company or publicly
50:41
traded companies generally A4O1K.
50:42
So Max that out if you can. And if you are younger and you
50:50
have lower health risks, you can do a high deductible health plan
50:54
which typically lets you have a health savings account.
50:57
And that health savings account is an investable account.
51:00
And not a lot of people understand how those work.
51:02
I'm not going to get into the nuances there.
51:04
But like if you're on a high deductible health plan, get a
51:06
high like high health savings account and use that as like,
51:11
because that rolls over versus what is it called?
51:14
The flexible savings account doesn't roll over.
51:16
It's like use it or lose it where a health savings account
51:19
builds over time like a normal investment account.
51:23
Can I insert another one you've? Maxed out, What was that?
51:27
I just want to insert one more as yeah, I know you were on the
51:31
poverty line with your parents. I know you were on welfare,
51:34
Heather, and I also was in food stamp limbo for quite a while.
51:40
You can start an IRA for your kids.
51:43
And I swear it sounds ridiculous, but even if you put
51:47
a couple bucks in there, the earlier they start, you are just
51:52
lifting up your next generation. And so I would also just throw
51:57
like a SIMPLE IRA in there for your children that they can put
52:00
like 100% lawn mowing money in. So once you Max those things out
52:05
and you've like cat like you maximize like those types of
52:09
investment buckets, what's left are private assets.
52:14
Private assets can include real estate, private equity, like
52:18
being an investor into a private equity fund, which like they
52:22
then take that capital invest into companies or venture
52:27
capital funds. And there's so you can do your
52:29
own like direct investing into companies and whatnot.
52:31
But those are like the three core buckets of like private
52:35
asset classes. And so I generally say if you'd
52:37
like Max out, if you'd like get rid of debt, you've maxed out
52:41
your emergency savings, you've maxed out like your 4O1K and
52:45
blah blah blahs every year and you have more left.
52:49
So I understand this is a very like privileged place to get.
52:52
You have more left at that point.
52:55
You can so you can do private assets or you can also do like
52:59
direct investing into the stock market.
53:00
So you can like I, for example, use Wealthfront.
53:04
I'm not endorsed, I don't have affiliate links, but like it's a
53:06
helpful thing because I do not have the mental capacity to like
53:10
research every stock. So I just set up robo investing
53:14
in Wealthfront and it just I like what can I put in every
53:16
month? What's my risk threshold based
53:19
on my like age and my goals? And then it just does it on its
53:22
own. And so it's.
53:24
Like and is that just tracking on the S&P or is that?
53:28
You can do S&P, you can set it. It's like it's a, it's
53:30
diversified across a bunch of different types of categories
53:33
and at like mutual funds and ETFs.
53:39
I don't know what ETF stand for. Sorry to back up S&P Standard
53:44
and Poor's not spray and pray. And then ETF.
53:52
ETF is exchange traded fund. There we go.
53:57
Yeah. It's funny because I didn't
53:58
really know that either. Yeah.
54:00
It literally like in some of the buckets will be like gold money
54:04
market like, you know, US tech like it does it on its own and
54:09
diversifies it based on your preferences.
54:12
You can customize if you're like a little bit savvier.
54:15
I just don't have the mental capacity nor am I that savvy.
54:18
So I just was like, OK. Well, I don't buy that for a
54:21
second, but OK. So I like this because from what
54:25
you're what you're saying, it sounds like you can do this with
54:27
very little. Yeah, you can start with like $5
54:30
a month. That doesn't even matter.
54:32
Yeah. And so I love this for the young
54:34
20 year, you know, like, but before you've really even taken
54:37
on debt, like is there, you know something that they can be even
54:40
starting a little bit to? Yeah, of the compounding.
54:43
Tons of like, yeah, tons of like robo investing, like companies.
54:47
So Wealthfront has it. I think there's like a female
54:49
focused one called like Alinea or.
54:53
What is it called? No.
54:55
Yeah, Alinea is like a female focused finding the literacy
54:58
platform. Female focused meaning like in
55:01
female owned companies investing.
55:03
No like like the platform is to help improve female financial
55:08
literacy and so the whole app is targeted towards women and
55:14
teaching women how to invest. Yeah.
55:18
So super cool. It's automated portfolio stuff
55:21
like it'll like do things for you.
55:24
You can like watch it and say, OK, here's what I have left
55:27
every month, what can I do? And it'll guide you through
55:30
those things. I'm so excited that we took time
55:32
to cover this topic today. We could have gone so many
55:35
different ways. I mean, we started out talking
55:37
about pull ups and we're closing out talking about Wealthfront
55:40
management. So, you know, from the stats
55:44
that Blakely shared, it's just jaw-dropping about how many
55:48
women are not engaging in this process and taking hold of it.
55:53
And as we move toward this now, next era where we are going to
55:59
be controlling most of the world's wealth.
56:02
Was it world or country? Country.
56:06
Trillions. Worldwide domination.
56:08
Yeah. As we approach that, ladies.
56:10
Yeah. No, we need to be educated.
56:13
So I feel way smarter than I did an hour ago just talking with
56:18
you on this high fund. I really appreciate you
56:21
trailblazing this path for women in venture capital and PE.
56:25
We know those are very male dominated rooms to be in, but it
56:28
doesn't have to be that way. We need to just be willing to
56:31
step in to these rooms more. So I really appreciate you
56:34
paving the way for that and making it more achievable for
56:37
all of us. OK, before we let you go, we
56:40
just want to ask the question that we ask all of our guests
56:43
each week, and we will answer it ourselves as well, which is what
56:47
brought a smile to your face this week.
56:51
So as you're thinking about it, we can do that.
56:53
Clay Blakely, do you have anything quick?
56:55
I haven't gone first yet, I think, so I'll just go first.
56:59
Great. Obviously, the Detroit Lions
57:02
played a game last night. No.
57:04
Yes, they did. I have to get it out of the way.
57:06
I got it out of the way. They won OK.
57:08
It was great. I hope this episode doesn't air
57:11
in February. What?
57:14
Why after we win the Super Bowl? Like.
57:16
Well, no, It'd be an irrelevant fact.
57:18
Oh oh. OK, well this is actually my
57:20
sharing time and I promise to be quiet during your sharing time.
57:24
All right, all. Right, OK, gosh, I got
57:28
uncomfortable. I don't like.
57:29
Elementary I don't. Like talking like that, I tried
57:31
to emulate what Heather does to me, Yeah.
57:34
Just being demeaned anyway, the. Bully Super.
57:36
Uncomfortable for me to do that but big smile.
57:39
This week for me I went to car shopping with my dad and I'm
57:44
looking to buy a car and I was super nervous about it.
57:48
My dad agreed to go with me. We go, I have a conversation at
57:52
these like 2. We went to these, you know, 2
57:54
dealers and I. Afterwards we were sitting in
57:58
the car driving away and he said he turned to me and he said you
58:01
are very good at this. And that made me smell really
58:04
big. I felt really good after that.
58:06
So that was nice. That's so nice.
58:09
So how are you thinking about the debt of purchasing a?
58:11
Car. Yeah.
58:12
So just kidding, no so great. I've been thinking about this
58:14
whole conversation. So I do not want to go into debt
58:17
on a car. And so I am purchasing a used
58:20
car. And if I purchase it, if I
58:25
finance it, I will make sure that there's no early pay off
58:31
what fee? Because I want to basically, I
58:33
basically want to pay cash for it, but I want the best deal.
58:36
So we saved up to be able to pay cash for a car.
58:39
So let's do. This I'll sell you a car for
58:41
500. What's the you got a car fax
58:45
like? What's the mileage?
58:47
What I. Think it's probably worth like
58:48
1500. OK, just saying, talk to me
58:51
later. We'll we'll go offline about
58:53
that. You can pay that out of your
58:55
Piggy Bank. Yeah.
58:57
All right. My smile for the week is my
59:00
husband. You know, we're, we're a year
59:03
and a half away from empty nesting, so we're like, like
59:06
trying out all these hobbies just to make sure our time is
59:09
covered and we're not like crying the last of our children
59:12
in college. But so for my birthday he bought
59:15
me. When's your?
59:16
Birthday. Lessons.
59:18
It was October 1st. What?
59:20
You guys missed it? Yep.
59:22
You did? I never knew it.
59:24
A dumb ass. Hey, OK.
59:25
We need to have a rule if you're in the first year of friendship
59:29
and no, you don't tell the other person your birthday.
59:31
They don't. I'm not accountable for not
59:34
knowing your birthday. Now I know next year I'm in
59:37
trouble. My birthday is November 18th.
59:41
Oh shit, it's coming up. And I'm just, it's going to go.
59:44
I'm going on record now. I I do love my my gift.
59:47
Love language is gifts. I think they're both writing it
59:50
down right now. OK, November 18th and I'll guess
59:55
I'll accept a back gift if that's your love language.
59:58
OK, no. Receiving gifts is my love.
1:00:03
Language, it's different. Just kidding.
1:00:05
OK? Anyway, so he gave me.
1:00:07
Happy birthday. Happy birthday.
1:00:09
So Scott bought me dance lessons, but not just any dance
1:00:14
lessons, he bought dance lessons to Arthur Murray.
1:00:18
Have you guys ever heard of that?
1:00:19
That's like the old school dancing, like the girls and
1:00:23
stuffing stuff. Yes.
1:00:25
So fun. It's like a little, it's the
1:00:28
little cult. You go in there and they like
1:00:30
sell you on the personal, they sell you on the group and then
1:00:32
you have to go to like dance parties and I thought, this is
1:00:35
going to be so cheesy and it is so fun.
1:00:38
You were like, we went to one last night.
1:00:40
We. Probably.
1:00:40
Does he go with you or does he just send you off to them?
1:00:43
No, it's just like our date. We did like foxtrot, salsa,
1:00:48
swing, rumba, cha cha cha 1. I don't know what that one is.
1:00:53
Cha cha cha. A good thing the cha cha cha.
1:00:56
It's the cha cha. It's pretty, it's a little dorky
1:01:01
and it's a little awesome and the people are super cool.
1:01:04
And anyway, if I was filed to my face this time, like oh.
1:01:07
My God, you're going to have dance friends.
1:01:09
They're going to be so cute. Are they all the same?
1:01:11
Are they all your age? Are they?
1:01:13
No, It is like. Literally the most diverse group
1:01:17
I've ever seen in Boulder. Really.
1:01:18
These are not the academics and the athletics.
1:01:21
This is like a totally different crowd.
1:01:24
I like they're and they might be academic and athletic.
1:01:27
I don't know. I'm who's to say they're not,
1:01:29
But they're they're fun. They're like the fun.
1:01:33
I'm OK being in public taking dance lessons kind of people.
1:01:37
And I love it. That's so fun.
1:01:39
I'm so excited for you. That's good.
1:01:42
Mine, sorry, is football related too, because I, I, my dad
1:01:45
called, he got a suite at the Bronco Stadium, which is really
1:01:49
fun when that happens. And we got to go and see like
1:01:52
the best game that the Broncos ever played.
1:01:53
Fourth quarter scored, scored 33 points.
1:01:56
It was incredible. Yeah, well, they were zero up to
1:02:00
the fourth quarter. It's worth 33.
1:02:01
Points quarter. It's never happened.
1:02:05
In franchise history and it was the naming of Thomas, they were
1:02:10
doing, you know, number 88 in the Hall of Fame.
1:02:13
And so Elway was there all the whole Super Bowl 50 team was all
1:02:18
there can. You describe what it's like for
1:02:20
that because it's 15 minutes, right?
1:02:22
Each quarter is 15 minutes. What is it like for that 15
1:02:25
minutes being in the crowd? What is it like?
1:02:27
What was it like it? It was, well, if I was in the
1:02:31
crowd, I could tell you, but I was above the crowd.
1:02:33
But you know, let me just imagine.
1:02:34
We did open our window so that we could hear the fans.
1:02:37
I did. I did reach down to a fan who
1:02:40
was trying to high 5 me from below Taylor Swift.
1:02:43
Up there. Threw him some popcorn.
1:02:46
No, actually we were, we were in a suite, but we were in the
1:02:49
guest section, which was really pissing me off because there was
1:02:51
this guy who had a dart jersey on from the Giants and he kept
1:02:54
standing up And OK, if you're going to be a get, if you're in
1:02:57
the guest section or, you know, you're not guests, visitors,
1:03:01
whatever, the closing team, the away team, if you're in the way
1:03:04
team section, it's fun. You know, you're clapping.
1:03:06
Of course, you're cheering for your team, but this guy's egging
1:03:08
everyone on. He's standing around.
1:03:09
He's like, how you like me now, how you like me now, you know.
1:03:12
And so by the end, I just just like like throwing peanuts at
1:03:15
his head and he'd be like be turning around and I'm just
1:03:17
looking away. He was driving me crazy.
1:03:20
But it was no, you would have done the same thing.
1:03:23
This guy wasn't straight up we. Never respond to violence.
1:03:28
It's not where we go. It was a.
1:03:29
Peanut, everyone's throwing peanuts.
1:03:31
It's fun. It's.
1:03:32
This woman was my Girl Scout leader.
1:03:34
They were throwing rice at her wedding and she got it caught in
1:03:36
her ear and she turned deaf. Like don't throw the peanut.
1:03:38
I'm sorry, we're going to. OK, That story needs to come on
1:03:42
to the podcast next. Week later OK all right Haifa it
1:03:47
it was great it's what it was how do.
1:03:48
I follow Rice death. It doesn't.
1:03:53
That's not a smile. So you smile.
1:03:55
You follow it with a happy thing.
1:03:57
Like what brought a smile to your face this week, Kaifa?
1:04:02
Oh. Goodness, OK, smile to my.
1:04:05
Face, Yeah. I have a friend who I hadn't
1:04:08
seen in person for a really long time visit this weekend.
1:04:11
She was here for a friend's birthday and she came a day
1:04:14
early and stayed with me and we actually got like more than like
1:04:18
ships in the night. I'm in your city, let's get
1:04:20
lunch kind of thing. And so, you know, I've known her
1:04:23
for a while. We've been on like our own, like
1:04:25
health journeys together. She just had a crazy health
1:04:29
situation where she had a pulmonary embolism and she's
1:04:33
like, he's 37, like she's pretty young.
1:04:39
So just like she's on like a, another version of a health
1:04:42
journey right now. And so her and I have just like
1:04:44
when I was in my 20, we met in our 20s, I got colitis, she had
1:04:48
lupus and Crohn's. So like, we've been on this like
1:04:51
health roller coaster. I know like just, we actually at
1:04:54
one point started wow, we, we, we joked that we were going to
1:04:58
start like an Instagram or like blog called Turmeric and Ginger.
1:05:02
She's Indian. And so she would be like
1:05:04
representing. Turmeric it's.
1:05:07
Good the ginge and also they're like anti-inflammatory foods and
1:05:10
super my favorite. Kind of tea.
1:05:12
It was, yeah. It was just good to see her and
1:05:15
beautiful get that quality time like it's.
1:05:17
And it's also nice when you have friendships where you're like,
1:05:19
you could always just like pick up where you left off and
1:05:22
there's no, you don't know, resentment.
1:05:25
No, like, why aren't you calling me blah, blah, blah bullshit
1:05:27
drama. Like no drama, just friends.
1:05:29
Just not like that. When my friend is bugging you
1:05:32
like that, like why aren't you calling me?
1:05:34
It's like, because you know, I love you.
1:05:35
Like if I'm not, it's there's a reason.
1:05:37
Like it's not. Yeah, that's, that's a podcast
1:05:40
topic. I would impact that one later
1:05:42
all. Right.
1:05:42
Let's do it. That's beautiful, Haifa.
1:05:44
I'm so glad you had that time with your friend.
1:05:45
Yeah, All right, that's that's it for this week.
1:05:48
Thank you so much, AIFA. You've been absolutely amazing.
1:05:51
Thanks everybody for listening and watching.
1:05:53
And don't forget to hit subscribe.
1:05:56
It really helps us out. See you next time.
1:05:58
See. You next time.
1:05:59
Thanks, Aifa. Ciao.