In August of 2019, the World Economic Forum published a sobering statistic: If the trends at the time continued, it would take 208 years to close the gender gap in the U.S.
As the leader of a prominent community of women and nonbinary founders, and as a mom to two little girls, the report felt personal. I remember thinking: “Wow. This is really bad.” Never in my wildest dreams would I have guessed that just over a year later, gender equity would get much, much worse.
Seven months ago, our lives were disrupted by the COVID-19 pandemic. Today, we have clear evidence that the brunt of its economic impact in the United States has been borne by women.
Last month, 865,000 women left the workforce—four times more than the equivalent number of men. Venture funding for women-founded companies has historically been abysmal, at less than 3% of all venture capital invested. Last quarter, it dropped to a three-year low. To cap this grim picture, new data by the Female Founders Alliance, the…