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Swimming With Sharks: The Erotic Undertones Of Funding

Business

We're constantly led to believe that men and women are more equal than they've ever been, especially in the workplace. But the stark reality is that many female founders are facing a tricky professional situation filled with sexual advances and discrimination as I have come to find out for myself. Why shouldn't women be able to work with male investors without this unnecessary attention?


Even though there have been improvements in the funding that female founders receive, there's still a long way to go. Recent studies demonstrated that in 2015, of those founders seeking money, 29% were women, which was a 16% decrease on the previous year. Meanwhile, the number of male founders seeking funding increased by 14%.

Sometimes Female Founders Are Subject to the Wrong Type of Interest in Investor Meetings

Many women are brought up with the misconception that neither math nor finance is a natural career path. But the truth is, often times it is women who manage family budgets. Women have what it takes to control a balance sheet within a company, guiding a fledgling business to success. However, there's something else that's holding them back; financial backing from male investors.

Young female entrepreneurs often want to embrace their feminine sides as they take leadership roles but this often has negative connotations when it comes to investor meetings. Some male investors may feign interest in a business idea but things quickly turn sour as the male investor starts to make non-business related advances. Why? Because these female founders will do whatever it takes to get them on board, right? Wrong!

Every female entrepreneur that I have spoken to about this has an "investor horror story", myself included. But the issue here is that we are so afraid to talk to others about them or share these anecdotes because we are led to believe that somehow it is our fault when a male investor crosses the line. Well it is not!

One woman who anonymously shared her story with Forbes said that she resorted to wearing a gold band on her wedding finger to thwart sexual advances. She claims it might be awkward if anyone asks about her “spouse" but this awkwardness would be far less egregiousness than having to side step an uncomfortable proposition.

I, of course, thought it was a brilliant way to repel any interest so I took her advice and started wearing a "fake" engagement ring to some of these meetings. To my surprise, even that didn't stop some of the prospective investors to ask me out for a drink, or talk about unrelated matters to my business.

One thing's for sure, women shouldn't be made to feel like they are responsible for a way the investor is disrespecting them. They shouldn't be ashamed of standing up for their business and calling out the investors who dare to take advantage of the situation to propose other non-business matters. This isn't a game of power. We work just as hard (if not harder) as our male counterparts and we shouldn't be afraid to take a stand when we aren't taken seriously because some men can't see beyond the physical appearance. We can't forget that we are offering investors opportunities to be part of possibly the next big thing and by crossing the line, they're the ones at loss, not us! But with so many young women going through situations like this and with no one talking about it, they're often discouraged from pursuing their passions, which is a huge barrier in acquiring their capital raise.

Even though many believe that the number of female founders and angels will continue to rise (in the U.S., $14 trillion or 51% of personal wealth is controlled by women, and it is anticipated to rise to $22 trillion by 2020), this shouldn't mean that women have to rely on each other to get ahead and to avoid the seedy advances made by some male angels.

Attracting Male Investors in the Right Way

The economy needs female founders. It is our job as a society to eradicate the narrow-minded belief that women are open to romantic advances when they're trying to get their businesses off the ground. Women make great business leaders and with the right male angel, a formidable partnership could be established – but the foundations of this need to be built on respect. We shouldn't have to dress like men in order to be treated or perceived as visionaries or business savvy. An important step towards changing this narrative is communication and transparency. The truth is women are still not given the benefit of the doubt, across the investor table, for being brilliant business leaders and starting multi-billion-dollar companies. I wasn't aware of that until I stepped into this game and experienced it for myself. Unfortunately, in some male investors' eyes we are still just girls with a Powerpoint and a dream. I'm a big believer in inclusion and not solving an issue by avoiding it. We can't just stop seeking male investors all around, because there are some amazing angels I have met that have been extremely supportive and respectful. What we need is for leaders in this industry to call and lift up women as visionaries. And just as Jennifer Hyman would say, "if every "big" investor recognized one to five female founders and CEOs with a set of positive and promising adjectives, maybe we would be living in a completely different world."

What is the cause of this decline and how do females escape gender disparities?

Without respect, it's not just these exceptional female entrepreneurs who are losing out but investors too. There are many reputable investors out there, willing to invest the right time, money and respect into female founders. But with the negative image portrayed of male investors thanks to a handful of disrespectful ones, many may be reluctant to step forward to provide female founders with the backing they deserve.

It is our job to provide both female founders and male investors with the right support network, allowing for open communication and a deeper understanding of what goes on behind the scenes. This will help to eradicate one of the biggest stumbling blocks for women with ambition – men who have nothing more than a cheap grope in mind when they attend a female investor meeting.

I know many women have stories to share in regards to their experiences with prospective investors. I personally would love to open up a conversation around this and hearing about other women's take on this. Let's talk!

Culture

A Modern Day Witch Hunt: How Caster Semenya's Gender Became A Hot Topic In The Media

Gender divisions in sports have primarily served to keep women out of what has always been believed to be a male domain. The idea of women participating alongside men has been regarded with contempt under the belief that women were made physically inferior.


Within their own division, women have reached new heights, received accolades for outstanding physical performance and endurance, and have proven themselves to be as capable of athletic excellence as men. In spite of women's collective fight to be recognized as equals to their male counterparts, female athletes must now prove their womanhood in order to compete alongside their own gender.

That has been the reality for Caster Semenya, a South African Olympic champion, who has been at the center of the latest gender discrimination debate across the world. After crushing her competition in the women's 800-meter dash in 2016, Semenya was subjected to scrutiny from her peers based upon her physical appearance, calling her gender into question. Despite setting a new national record for South Africa and attaining the title of fifth fastest woman in Olympic history, Semenya's success was quickly brushed aside as she became a spectacle for all the wrong reasons.

Semenya's gender became a hot topic among reporters as the Olympic champion was subjected to sex testing by the International Association of Athletics Federations (IAAF). According to Ruth Padawer from the New York Times, Semenya was forced to undergo relentless examination by gender experts to determine whether or not she was woman enough to compete as one. While the IAAF has never released the results of their testing, that did not stop the media from making irreverent speculations about the athlete's gender.

Moments after winning the Berlin World Athletics Championship in 2009, Semenya was faced with immediate backlash from fellow runners. Elisa Cusma who suffered a whopping defeat after finishing in sixth place, felt as though Semenya was too masculine to compete in a women's race. Cusma stated, "These kind of people should not run with us. For me, she is not a woman. She's a man." While her statement proved insensitive enough, her perspective was acknowledged and appeared to be a mutually belief among the other white female competitors.

Fast forward to 2018, the IAAF issued new Eligibility Regulations for Female Classification (Athlete with Differences of Sexual Development) that apply to events from 400m to the mile, including 400m hurdles races, 800m, and 1500m. The regulations created by the IAAF state that an athlete must be recognized at law as either female or intersex, she must reduce her testosterone level to below 5 nmol/L continuously for the duration of six months, and she must maintain her testosterone levels to remain below 5 nmol/L during and after competing so long as she wishes to be eligible to compete in any future events. It is believed that these new rules have been put into effect to specifically target Semenya given her history of being the most recent athlete to face this sort of discrimination.

With these regulations put into effect, in combination with the lack of information about whether or not Semenya is biologically a female of male, society has seemed to come to the conclusion that Semenya is intersex, meaning she was born with any variation of characteristics, chromosomes, gonads, sex hormones, or genitals. After her initial testing, there had been alleged leaks to media outlets such as Australia's Daily Telegraph newspaper which stated that Semenya's results proved that her testosterone levels were too high. This information, while not credible, has been widely accepted as fact. Whether or not Semenya is intersex, society appears to be missing the point that no one is entitled to this information. Running off their newfound acceptance that the Olympic champion is intersex, it calls into question whether her elevated levels of testosterone makes her a man.

The IAAF published a study concluding that higher levels of testosterone do, in fact, contribute to the level of performance in track and field. However, higher testosterone levels have never been the sole determining factor for sex or gender. There are conditions that affect women, such as PCOS, in which the ovaries produce extra amounts of testosterone. However, those women never have their womanhood called into question, nor should they—and neither should Semenya.

Every aspect of the issue surrounding Semenya's body has been deplorable, to say the least. However, there has not been enough recognition as to how invasive and degrading sex testing actually is. For any woman, at any age, to have her body forcibly examined and studied like a science project by "experts" is humiliating and unethical. Under no circumstances have Semenya's health or well-being been considered upon discovering that her body allegedly produces an excessive amount of testosterone. For the sake of an organization, for the comfort of white female athletes who felt as though Semenya's gender was an unfair advantage against them, Semenya and other women like her, must undergo hormone treatment to reduce their performance to that of which women are expected to perform at. Yet some women within the athletic community are unphased by this direct attempt to further prove women as inferior athletes.

As difficult as this global invasion of privacy has been for the athlete, the humiliation and sense of violation is felt by her people in South Africa. Writer and activist, Kari, reported that Semenya has had the country's undying support since her first global appearance in 2009. Even after the IAAF released their new regulations, South Africans have refuted their accusations. Kari stated, "The Minister of Sports and Recreation and the Africa National Congress, South Africa's ruling party labeled the decision as anti-sport, racist, and homophobic." It is no secret that the build and appearance of Black women have always been met with racist and sexist commentary. Because Black women have never managed to fit into the European standard of beauty catered to and in favor of white women, the accusations of Semenya appearing too masculine were unsurprising.

Despite the countless injustices Semenya has faced over the years, she remains as determined as ever to return to track and field and compete amongst women as the woman she is. Her fight against the IAAF's regulations continues as the Olympic champion has been receiving and outpour of support in wake of the Association's decision. Semenya is determined to run again, win again, and set new and inclusive standards for women's sports.