Bag Borrow or Steal is an online business that rents high-end designer handbags to women. Is this an incredible concept or what? I’m sure this could only succeed in America.
The reason this news caught my eye is because Madrona Partners are the same venture capitalists who gave Redfin $1.25 million last month.
Both businesses were founded by men. Madrona Partners are all men.
Women own about 40 percent of all businesses in the U.S. but receive only 2.3 percent of the available equity capital needed for growth. Male-owned companies receive the other 97.7. percent.
In 2001 in the U.S. women held only 2.5 percent of the top jobs at American companies and only 10.9 percent of the board of directors’ seats at Fortune 1000 companies.
This not about men. This is about women and what makes them afraid, unwilling and unable to make the decisions about their lives that would get them into these kind of positions.
Women often don’t know the market value of their work. According to Linda Babcock in “Women Don’t Ask: Negotiation and the Gender Divide” , women report salary expectations between 3 and 32 percent lower than those of men for the same jobs; men expect to earn 13 percent more than women during their first year of full-time work and 32 percent more at their career peaks.