Big Controversy, Alexa, Round Up, and More!!!
| October 12, 2010 | Posted by Roshawn Watson under Uncategorized |
By: Roshawn Watson
Disclaimer: I am deliberately treading carefully with this post because of the sensitive nature of the topic. By even mentioning something so controversial, I risk upsetting some and enraging others. I seriously considered not discussing it to avoid such polarization; however, I believe that it would be quite unfortunate to allow political correctness to preclude having meaningful discourse about an issue that affects us all. All I ask is that you keep an open mind.
This weekend, I became aware of a recent article written by Penelope Trunk, founder of the Brazen Careerist (and two other start ups), which has a very unpopular premise. She argues that Women Don’t Run Start Ups Because They Rather Have Children. She likens being an entrepreneur to having a mental disorder and says ” I am officially not crazy enough to spend another year missing out on being with my kids.” Brazen Careerist is now going to be moved and run by a new CEO. She can reclaim her life now, as she will no longer oversee operations nor be the primary company visionary.
Upon reading, I sent out a few email queries and tweets to several female professors, bloggers, and other professionals. Their responses ranged from calling Penelope’s opinion “sexist” and grossly “generalized” to saying that they typically “agree with most of what she is saying.” However, most of the responses had an overtly negative tone. When I asked one person why she thought Penelope was sexist, I got ” most people want to be judged for their own actions not the actions of others of the same sex, race etc.” Now, I personally didn’t think that Penelope was saying it is okay to judge anyone but rather discussing her own experiences and observations, but that’s just my take (and I have been told I am wrong). The shortest reply was “I find it makes me angry…but thanks :-)”
For me, this article hits close to home for two main reasons. First, I know some fiercely intelligent and ambitious women and am quite curious about the motivation behind their career choices. For example, starting your own research program is similar to running your own start up in many ways. There’s a high failure rate, you work very brutal hours, and you need an unparalleled drive, passion for, and an ability to sell your ideas. Some of the brightest women I have had the privilege of knowing have decided against going this traditional tenure-tract faculty route citing lifestyle restrictions as a major consideration. Another reason I found the article interesting is because I am an entrepreneur. I blog to help people (and I enjoy it) but not because of its business model. I do have more profitable endeavors. Thus, her discussion of the entrepreneurial lifestyle peaked my curiosity.
In short, I found her commentary on her experiences and observations to be quite candid and insightful (insider’s perspective so to speak). I truly believe such opinions affect us all (whether directly or indirectly). After reading her post, I am left with so many questions that perhaps you will be kind enough to help me with in comments.
Thought Questions:
1) Why do you agree or disagree with the author’s opinion?
2) Is it perceivable that there could be at least some validity to what she is saying (despite the generalizations)?
3) Are men and women so different that the overall familial unit may typically be better served in a particular way (noting that there are always exceptions)?
Exciting News!!!! Last Wednesday, I met the Alexa Challenge goal by crossing the 200,000 threshold! I changed to this domain back in early July, so it took 3 months to go from 1.9 million to underneath 200K. I send a heartfelt thanks to all who made this possible with just 1 article and 1 round up per week! Your efforts have truly been remarkable, and I am very grateful!
Now, it’s time to do the weekly Uncommon Money News and Yakezie Round Up.
Uncommon Money News and Yakezie Round Up
In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!
To my readers: I am so honored by your support. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you: you are vital! Thank you sincerely.
Personal Finance (Yakezie and other PF bloggers)
I’m Sick of hearing It’s For The Kids at Free From Broke – Craig discusses how some parents who are financially struggling still manage to lavish every gift on their kids
You Just Won 1 Million, Now What at KNS Financial – Khaleef knows it is fun to dream and begins to tap into ours with this fun post. He thinks his plans are boring, but most would call them sensible and charitable. What about you?
What Do You Need To Get Out of The Rat Race? at Invest It Wisely – Kevin talks about what is financially necessary to never be forced to work another job that you hate. (Of course, if you really hate it, the time to plan your departure is now.) Ponder what financially freedom would feel like for a while, and then check out his detailed and insightful analysis.
Ignored Tip for Building Wealth at Money Reasons – Money Reasons believes this tip is often ignored in our pursuit to build wealth. Have you ever experienced the death of a dream? It’s tragic! Learn how winners handle this.
Financial Discoveries In a Consumerist Culture at Saving Money Today – This guest post by Aloysa is quite interesting because it discusses being exposed to American consumerism while being from a country with diametrically opposed values. It’s quite enlightening to read her four discoveries!
To Annuity or Not Annuity at Everyday Tips and Thoughts – Kris discusses whether annuities (insurance-investment products that can guarantee you an annual income) have a role in your portfolio.
Business News
How the Phone Companies Are Hurting America: The $320 Billion Broadband Rip-Off
Economy
Warren Buffett: Tax cuts for all, EXCEPT the rich
The International Currency War at Beating The Index – Mich discusses the currency war and how to capitalize from it.
Entertainment Money News
Please Unbreak My Heart – Toni Braxton Bankrupt Again (Could Owe $50 million)
Two and a Half Men Kid Star gets a Whopping $300,000 per episode
The Social Network #1 Again (Box Office) and Personal Finance Lessons from the Social Network
Wealth
There’s Rich… and Then There’s Super-Rich
Americans Are Horribly Misinformed About Who Has Money
- Carnival of Personal Finance at Canadian Finance Blog – The Problem with Being Budget Minded is Other People
- Carnival of Financial Planning at Consumer Boomer – Economists Blame ME for the Slow Recovery and Why Is Debt Really Decreasing?
- Festival of Frugality at Fiscal Fizzle – Do Competent Kids Need an Inheritace?
Round ups that linked to posts from this site
- Khaleef at KNS Financial–Education Edition Round Up
- Kevin at Invest It Wisely – Weekend Reading: The Changing Seasons Edition
- Laura at Move To Portugal – Financial Freedom Edition
- Money Reasons – MR Cache: Winning Across The Board
- Mich at Beating The Index – Thanksgiving Edition
- Kay Lynn at Bucksome Boomer – Week in Review and check out (Please cancel my account)
OHMYGOD. After typing out a long comment, I click "Twitter" to connect so I can submit this post and upon refresh my entire comment is GONE.
Ugh. Here's my summary. First, you make me angry about Penelope. Second, you make me happy because you met your goal. Third, you make me forget about both of them while I go read someone else's site. By the time I got back to this tab I was just annoyed. Then your comment system ate my comment and I became even more annoyed.
Please do not write about 2 COMPLETELY DIFFERENT topics in one post. Especially ones that evoke such strong emotional reactions.
My recent post 27 And FrugalâΒΒs First Birthday!
CONGRATS ON CROSSING THE 200k BARRIER!!! DON'T STOP, NEXT STOP 100,000!!!!!!!!!!!!
Well, there is evidence of discrimination in the start-up market, regardless of what women choose to do. It's been a few years since I've studied this topic, but women who do secure funding have a lower failure rate than men, suggesting that we're underfunding women start-ups. Given that it is harder for a woman to get a start-up off the ground than for a man, naturally fewer women are going to choose to try that.
Funded women entrepreneurs also more over-confident that they won't fail than men (all entrepreneurs are over-confident, otherwise they wouldn't try something so risky), but they're about right in terms of confidence when they have inherited a business rather than started their own.
So saying that women don't choose to do this isn't really the whole story. If the barriers weren't as high, the gender numbers would be closer, though maybe not the same.
OIC, women have a greater likelihood of success should they be given funding. Quite compelling data indeed.
Do you believe her presumption that the discrepancy is partly due to life choices has any validity?
My recent post Big Controversy- Alexa- Round Up- and More!!!
You are so right: something funky did happen with my commenting feature. I'm sorry about that, and it looks like I wasn't able to recover it though. π
Sorry, I didn't mean to offend but thought that this issue was too important to not discuss! You are right… too many topics in one post! I was just trying to spare the email subscribers of virtual clutter π
My recent post Big Controversy- Alexa- Round Up- and More!!!
I don't know. I can imagine that there are some guys that feel the same way. Does it really matter? I don't pass judgment on those that decide to stay home with the kids OR start a business, so long as BOTH parents are not neglecting the kids overall.
Congrats on breaking the 200,000 barrier, and thanks for linking to my rat race post!
My recent post 5 Reasons to Have an Emergency Fund
I don't see this post as the big controversy, it was designed to be. Anyone who has read Penelope Trunk for any length of time is familliar with her antics. This is no different than her posts on her miscarriage and oral sex. It brought her a lot of attention, which was the whole point.
I think you got the point just fine. I think anything that could construed as as moving back toward more traditional gender-specific roles is going to draw some ire regardless of who says it or what evidence they present. It's a touchy subject due to our long history of discrimination based on gender. Thanks for Alexa help!!!
My recent post Big Controversy- Alexa- Round Up- and More!!!
I'm sure there are plenty of guys who feel this way. Although no has mentioned it, I think that people took issue with the fact that a woman who has founded successful start-ups is saying it. I think it matters because it highlights some unpopular perspectives that are still present even though not openly discussed. In the end, the well-being of the kids is what is most important.
Re: Alexa
Thanks !!!
My recent post Big Controversy- Alexa- Round Up- and More!!!
Congratulations on Alexa. I fault no mother who chooses their kids over the joys and heartaches of a startup. But if this is a publicity stunt….. that's an entirely different story.
Interesting point. I am unfamiliar with her previous work, so I have no frame of reference. I'm assume if her goal is to garner publicity she certainly knows how to get the buzz she craves.
My recent post Big Controversy- Alexa- Round Up- and More!!!
Thanks!!!
I pass no negative judgment either on SAHM. It is certainly a hard job! I guess for sake of argument, we will assume that Penelope is being authentic.
My recent post Big Controversy- Alexa- Round Up- and More!!!
Congratulations on the Alexa crossover!!!
My wife is very, very smart (much more so than I am), and she chose to be a stay-at-home mom instead of continuing to work as an Accounting Controller at her then employer's business.
So yes, I think some women are just wired that way. Heck, having kids, I wouldn't even mind staying home to be closer to them, they grow up sooooo fast!!! Still, I don't think I'm the best influence on them, so I gladly still go to work.
They are the most important thing to me though!
My recent post Paying A Kid’s Allowance With Dividends From Stocks
miscarriage and oral sex… together? or do I just not even want to know? I think I don't want to know.
My recent post How much to pay for graduate school
Good point. Role reversal definitely seems much more socially-acceptable now than 40 years ago. It makes sense that the ability to produce a high income would be a factor in the career choices. For example, multiple studies have previously suggested a strong correlation for the male to be the sole (or at least primary) breadwinner in millionaires households. If their incomes and perhaps the perception of value for their talents weren't higher, then I wonder if these households would abandon the more stereotypical gender roles in order to be more economically productive. I know it is a stretch, but I wouldn't be surprised given that strategic planning financial matters is among the top activities performed in balance sheet affluent households.
My recent post Big Controversy- Alexa- Round Up- and More!!!
Thanks Money Reasons,
Some women definitely seem more comfortable staying home with their families than working a traditional 9-5. Given the things kids face now, raising kids well is hard enough with one parent home, so it's understandable why women choose to give up their careers despite it being successful/upwardly mobile. I can definitely empathize with wanting to stay at home with your kids as a male (even though I don't have them yet). Part of the reason we are working so hard now is so that when we decide to have kids, money will be less of an influence on our decisions with respect to work.
My recent post Big Controversy- Alexa- Round Up- and More!!!
I truly believe that the mother is a cornerstone of any family, as such, it is important that they be available in the early years of their children. That does not mean they should throw their careers away, just take a break. My wife currently works part time and we(me + kids) all appreciate her managing the household, the kids always feel there is someone available for them.
Congrats on cracking 200k in Alexa. I am looking to achieve the same goal hopefully within the same time frame π
Also, Thanks for the mention!
My recent post Weekend Edition- Thanksgiving Edition
Congratulations on crossing 200k – your down to 189k as I write this!
I don't have a problem with what she is saying – only that she feels as though no woman with kids can feel differently from her.
However, I believe that God created men and women with different longing and desires and that comes out whether we acknowledge it or not. In general, women are more nurturing than men. Men are designed to care for the family by providing, protecting, and teaching, and it is harder (in general) for that to change.
There is also the problem of society over the last 40 years telling women that they are worthless unless they have an MBA and a great career. So you have a lot of women who don't have kids at all, and then turn 45 and regret it – again, this isn't true for everyone, so I hope I don't get beat up for writing this. I think society is doing a great job of trying to remove the desire of a woman to be a mother (or even a wife who focuses her energy on the home).
And, thanks for including my post!
You are definitely welcome for the mention. Several people have reported this time frame, which is encouraging!
Being a mother is an important job, so I can understand that your wife and your family decided for her to work part-time rather than full time. It's good that your family has found a way to balance priorities (family, career, etc.)
My recent post We Dont Export Enough!
This interesting because it gets at both societal pressures and the internal desires that many women undoubtedly must deal with when faced with this decision. I cringe when I think about the number of women who failed to try because they think that it is a lost caused, which is what Nicole and Maggie were getting at. Based on the underfunding data they present, it supports those feelings somewhat. Additionally, I also grieve for the 45 year old childless professional who wishes she would have made a different decision.
When I sent out my initial query, one comment was quite insightful: when I was a younger idealist, I would have disagreed with more of what she is saying than I do at the present. Of course, none of this is to suggest that Penelope is right but to fairly discuss both sides of the argument!
Lastly, see there's no backlash for you expressing your opinion π
My recent post We Dont Export Enough!