The #MeToo Movement May Have Started in Silicon Valley
Silicon Valley’s gender inequality problem is no secret.
But the situation can be fixed, according to Emily Chang author of the book “Brotopia” and host of Bloomberg Technology.
“The #MeToo movement started in Silicon Valley,” she says.
Years before the reckoning in Hollywood, women like venture capitalist Ellen Pao and Uber’s Susan Fowler spoke out about harassment and discrimination. Their efforts, Chang says, made it “safer for more women to come forward.”
“That’s part of why I wrote the book,” says Chang. “To keep that conversation going and not lose the momentum that some of these courageous women have ignited.”
According to Chang, the gender pay gap in Silicon Valley is five times the national average. In the traditionally male-dominated tech industry, too many find themselves “the only women in the room.”
And there are cultural issues as well. Chang’s book takes an inside look at the social scenes of powerful executives, investors, and entrepreneurs, which include things like “sex parties” and a range of other similarly inappropriate activities.
“All of this perpetuates an uncomfortable environment for women and a power dynamic that is completely lopsided.”
Silicon Valley hasn’t always been this skewed.
“Women actually played vital roles in the computer revolution [in the 40s and 50s],” Chang says. “They were programming computers for the military and programming computers for NASA. Think ‘Hidden Figures’, but really industrywide.”
Kim Billeter, EY Americas People Advisory Services Leader, joins Cheddar News to discuss why empathy is seen as a top leadership skill, and how to authentically lead with empathy.
The state of Arkansas sued TikTok and Facebook parent Meta on Tuesday, claiming the social media companies were misleading consumers about the safety of children on their platforms and protections of users' private data.
Stocks are rising again as a bit more fear evaporates from Wall Street. The S&P 500 was up 0.7% early Thursday. The benchmark index is on pace for its fifth gain in the last six days.
The Federal Deposit Insurance Corp. is set to pay almost $23 billion to stabilize the banking sector. That money comes from an insurance fund that is refilled through fees paid by banks. Now the agency is considering a special assessment on the entire industry to help make up the costs, according to a Bloomberg report.
About 61% of Americans say the economy is impacting their mental health, according to a PayPal survey. Shanthi Sarkar, vice president of financial services at PayPal, joined Cheddar News to break down some key takeaways from the survey and offer tips on saving and managing money.