That’s why, over the next ten years, I am committing $1 billion to expanding women’s power and influence in the United States.
I want to see more women in the position to make decisions, control resources, and shape policies and perspectives. I believe that women’s potential is worth investing in—and the people and organizations working to improve women’s lives are, too.
Gender equality in the U.S. has been chronically underfunded. Data from Candid’s Foundation Directory Online suggests that private donors give $9.27 to higher education and $4.85 to the arts for every $1 they give to women’s issues. What’s more, 90 cents of each dollar donors spend on women is going to reproductive health. As absolutely essential as reproductive health is, we also need to fund other unmet needs.
To that end, my company, Pivotal Ventures, will put resources behind new and established partners taking innovative and diverse approaches to expanding women’s power and influence. We will continue to adapt our strategy in collaboration with our partners, but we already know we will focus on three priorities.
First, dismantling the barriers to women’s professional advancement. Even though most women now work full-time (or more), we still shoulder the majority of caregiving responsibilities; we face pervasive sexual harassment and discrimination; we are surrounded by biased and stereotypical representations that perpetuate harmful gender norms. From the entrepreneurs incubating market-based caregiving solutions to the groups advocating for better policies and protections for women at work, the people working on these issues need support to deliver breakthrough solutions at scale.
Second, fast-tracking women in sectors with outsized impact on our society—like technology, media, and public office. The reason the traditional pipelines into these industries work best for men is that, intentionally or not, they were designed that way. We need to create new pathways into these industries that will open more entry points for women from all backgrounds.
Third, mobilizing shareholders, consumers, and employees to amplify external pressure on companies and organizations in need of reform. Data plays an essential role in driving mobilization, but there’s not yet enough of it when it comes to the lives of women—and especially women of color. That’s something more funding will help change.
$1 billion is a lot of money, but I also recognize that it’s only a small fraction of what’s necessary. That’s why I hope the financial commitment I’m making today is seen as both a vote of confidence in the experts and advocates who are already working on these issues—and an invitation for others to join the cause and make commitments of their own. Equality can’t wait, and no one in a position to act should either.
We are right to be outraged. But we’re also right to be optimistic. Americans are no longer willing to accept the glacial pace of change—and I feel lucky to be alive at a time when we no longer have to.
