Here we go again. Last week, the Financial Page of The New Yorker’s Technology Issue was titled “Valley Boys.” Although James Surowiecki is right to point out the lack of women in tech (according to the article, 60-70% of employees in the technology sector are men), he misses one of the biggest barriers to changing gender imbalance. Why would those in power want to change the status quo?
Sure, many reports confirm that gender equality in top levels of management and C-suite positions makes for greater financial bottom lines. But many men benefit from this very structure of rewards, payments, and positions of power that leaves women (and other groups) behind. Not dissimilar from academia, the arts, and finance, Silicon Valley is a man’s world, and no amount of studies is going to make it easy for these boys to give up power, prestige, and the big bucks.
As a solution to gender imbalance in early-stage venture and company funding, Plum Alley operates outside of existing systems. We are expanding access to capital and tools for women to raise money. Every company has its sweet spot and its mission. Ours is clear.