 We've been having a lot of fun with this title. It's been changed many times because we were afraid that you all would think that we were divas if we kept this name. But we decided we were, so we're keeping it. Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha. The first thing I want to do is just, from left to right, we have Kimberly, Akaya, Donna, and George Ed. And we're going to have a great conversation with all of you. But we want you to have a little bit of a conversation with each other before we start. And we would like for you to pair up in the twos or threes. And we're going to go for maybe three or four minutes. What made you decide to come to this panel? Will be your first question. So let's start with that. Everyone. OK. And the ladies in the room, in particular, are going to go first if you're in a conversation with a man. The women first. Something you're really proud of that you've done. Name it, claim it, say it to each other right now. And a lot of times, when we are in professional settings, we tend to answer those questions for fun early. And then it gets very quiet. And we wait for what's next. And there's just this energy in this room already that I think naming it Money Davis actually was the thing. Now, I'm not really a diva. I'm just here to moderate the divas. Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha. But how I'm going to start is, y'all are on the spot now. You're each going to talk about one thing you're really proud of. And one of the things we said was that women sometimes don't have the opportunity to set when they're proud off. Their resumes don't list it. They don't. My daughter, who's sitting on the front row, wrote my bio for the program book because I was afraid to write it because I might sound fragidotian. It's really quite lovely what she said about me. And I let it stand. It was hard to not edit it down. It's longer than anybody else's. And that was a really hard thing for me to do. But I would start, I'm spoken at the Vatican, so Georgia, what do you want? Woo! You lead. No, I was a speaker, but I was a plenary speaker. Yes, I wasn't just on a panel. That's right. Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha. Money and meaning. Directing towards premium financial returns and my last event brought together 125 investors representing $4.5 trillion. Woo! Woo! Woo! Let me wear it. No, just yours. OK, so mine. I worked for a think tank, and I built a think tank. And I worked on carbon taxes for 10 years and helped bring in the first carbon tax in North America and British Columbia at a time where people said there would never be a carbon tax in North America. And so that was pretty fun. She launched Change, Found the Finance, and it just went live on Wall Street. Woo! And it is a democratizing investment in ways I've never heard or seen before. So kudos to my sister here. Well, I wanted to get a little less fabulous. I used to think I had a fear of heights, so I went skydive. I went down the plane and I realized what I was not afraid of. It wasn't afraid of heights, it was afraid of edges. It was afraid of the ground. It was afraid of edges. Wow! For afraid of landing. My name is Kimberly King, and while how I answered the group here that I'd like to say first is I am mostly proud of learning how to stand in my truth, even when it costs me. That is actually what I'm most proud of. Professionally speaking, this is helping me realize there are many and I want to learn to own them even more. But one thing I'm proud of is that I had a vision and an idea before we had one-stop shopping for financial services of bringing not only companies together but industries together from the banking and the investment community and the laws would not allow us to do it yet. I engineered a way to do it, put together a national joint venture with the Credit Union Association and American Express Financial Advisers and it did over a billion dollars a year. I'm proud of that. So I'm going to ask you all to have another little conversation really quickly about you come to this conference and you come to this session about money, Davis. What do you want from money or finance? What are you looking for? What do you want from money or finance? What do you want from money? What do you want from finance? Who's willing to give us money? Come on. Yes. I'm going to point to people if you don't follow me. Yes. I've been changing women's lives with money. So I want to give money to change other, to change the lives of young girls and women as my purpose of money. Thank you. She wants to change the lives of women and girls and that's her purpose and she wants money to help her do that. You're from Cameroon? She came from Cameroon. This is her first time. She came up to me yesterday and said with tears in her eyes, I think that she was so excited that there were women here that she thought it was going to be all the same. On the internet, I saw soccer. My mind was only men. But the first thing, when we came, I saw a woman came up, another woman, another woman. We're glad you're here. Founder and radical executive officer of the body is not an apology. And the first thing that came to my mind was this idea I've been doing so much with so little for so long I'm capable of doing anything with nothing. And so, can't help but imagine what would impact look like if I were doing all of the things, if we were doing all of the things that we've been doing with so little resource with the appropriate amount of resource in relationship to the impact that we're putting out in the world. I want to give money to the sexy things like scholarships, putting the names on the side of the buildings, men do that, women don't do that. That I'm really into like, how can we raise money for the charities that are creating impact and let them have their lights be on, let the staff have benefits and heat. And so, that's my vision. Yes. Hi, I'm Reina Green from Angels of Impact and what I want to see in Asia right now is that whenever people say, could we invest in women, and the first reaction we get is, oh, you're doing microfinance? Women? The second thing is when we talk about impact investors in Asia, they're predominantly young men men, I want to change that as well. Hi, I'm Patricia Bright. I'm from a company called GoodSocial and I would like money to be more accessible to all the wonderful women in this room and the way that it seems to be so accessible to men. Kimberly, what do you want from money? What I want from money is that it assumes it's an appropriate role in the currency of our life. Yeah. That it's really just one more form of creative trade and of honoring your contribution and mine and the exchanges we make. That this should be an instrument of honor, not an instrument of terror or, I don't want to say a kaia's, but don't, don't. Well, it's a good to build on that because I think that this could turn into a currency of good and as you read it, the forward, we believe that there's a radical difference in how money can move and we're here to make it move in that direction. To see money connect us as opposed to isolate us from one another. Like, what if we were to use it to get closer? Right? So that distance between those of us who have it and then those of us who don't have it and need it just gets, like, we don't, like it's not that hard. And I think we make it harder than it needs to be. So if we could just, I mean, could you just get a little closer? And you know, actually get close enough so that you can actually, like, smell the person next to you. See, see, now what if the person next to you were your honey? Honey, like your kin, your neighbor, your kin, somebody that you will love one of these days, right? That's what I want, that's what I want money to do. Yeah, yeah, yeah, yeah. The CEO of a Wall Street fund company. I just had to say that. My 22-year-old is still looking at me going, what the, what happened? But the truth was I had worked for Greenpeace, I had worked on Carbon Taxes, I had run a clean energy company that built projects with indigenous communities, and I had done little to nothing to dial the needle, definitely on climate change. I was completely distraught. And so, I wound up being invited to the Invisible Institute and while I was there, I started asking every capital partner that came through all the money people, so what's your deal, float a women? And what's your deal, float a people of color? And I just got the most hideous answers. It just broke my heart. I wound up leaving and going, okay, that's mine. This pisses me off so much. I'm so offended. I'm so hurt. I'm so upset that I have to take this on. I don't know what I'm going to do. I don't know how I'm going to take it on. So that's what pulled me into the financial system. And so, I have this simple thing. Genius is evenly distributed everywhere. It is maybe more concentrated in the hoods and on the reservations and in the favelas and in the bodies of women because you've ever had to struggle. You're more creative. You're more disruptive. So why is it that the smarty pants, white boys in Silicon Valley get all the money? Reaction conference. I worked in civil rights and of course every civil rights person gets an MBA, right? But that's what I did and I did venture capital and then I worked for a multi-billion dollar hedge fund. But I kept on seeing these patterns where why does that think you're rewarded with high return? And what about and what is not being counted in these analyses? So the whole reason for my starting take action with A is the effect investing was going to be for real, particularly target premium financial return. And secondly, I was trying to figure out how do we showcase those investments where the investment eases and the value is so strong that if you do social and environmental good you get outperformance. Because if you could shine a light on those then the idea would be that people would follow. So my wish is that money that does good for the world and for people and communities gets outperformance and stuff that destroys gets the worst performance. Applause I'm trying to figure out where to go with this but I'm going to go. So two weeks from now I think if you've read my stunning biography you know that I'm a fiscal priest and in two weeks five of my close female clergy friends are coming to my house to spend three days and we were trying to decide what our agenda was going to be and one of them wrote me one of them wrote I'll office and said what do you want to talk about and of course we'll each take an hour or two to talk about what's going on in our lives and maybe we can devote the rest of the time to smashing the patriarchy. So the almost unanimous response was let's not spend any time on our own stuff let's just work on smashing the patriarchy and so while I don't think that the point of this panel is exactly smashing the patriarchy well exactly precisely we do believe across this board that we're missing something because the patriarchy won't let women have their voices and won't let women particularly in this world of finance speak to it and which one of you would like to take the first crack at how this world would be different if women had an equal voice at the finance table I believe there would be more trust there would be more not just equity in that we would be at the table but I believe that in the feminine which can be in a man masculine and feminine is ultimately not about gender but right now our gender is holding the stand for it in our whole selves and our whole bodies but she has been underneath and she needs to come alongside now I am not interested in a patriarchy personally I am interested in a sacred partnership that will write the balance of the axis of the entire world if we get to make our stand beside everything in the universe will come in this sacred alignment I really believe that if the system doesn't change we can put all kinds of women and it will replicate itself so we'll just we'll have women in the cabinets and women in the presidency and women on the board directors and somehow magically that it's all going to turn into nirvana so here's my dream I'm imagining a whole host of millennial and gen X badass women going in and just tearing it up and making it up because us creators we're not going to do that but what we can't do is support the next generations to do it so I'm not utopic but I do believe that the youngsters have the key that's huge no Jet so that is for real and the best thing I could do is make sure you succeed I just said that publicly and my word is as good as my boss so pretty grand I still have tearing up to do and so I guess here's my take one of the things that really gets to me right now about the so-called kind of ethical financial space you know I'm not going to name names but there's a product in the ticker SHP and it's you know it's this cheap product and it's pink wrapped filthy dirty companies right it's Monsanto and oil companies and mining companies the extraction industry is very clever they figured out they can get big points out of the financial industry and look really good wrapping themselves pink and it pisses me off and so one of the things I hope that's going to happen through this company we're building and we are women owned women majority team majority women board and now we're majority women investors is that it actually becomes a story of women walking up to Wall Street and fundamentally changing the game zero fossil fuels no Monsanto no carcinogenic chemicals clean air clean water indigenous rights human rights gender lens all of it in everything we do always and that's how I think women have to be in this space we have to be transformational actors we can't be pink wrapped dirty nasty things on the data side because I'm a data nerd and thank you there was a study put out by an ordea which looked at a lot of publicly traded companies and it showed that if you had women as the number one or number two in a firm the performance was twice that of nail run companies 25 percent versus 11 percent that's a 2017 study so it's pretty powerful to see and obviously it's great for gender lens infesting which Sufian is pioneering and Catherine is doing a lot of work in too so that's one way I think but I think it's because there's this ability to hold so many things at once right it's ability I mean people talk about multitasking which sometimes I can do well sometimes I really can't but it's this ability to hold right more than one thing so you can kind of hold what's primary in front of you and look at patterns that are around you and then figure out a new way of synthesizing so I think that ability to hold so much and to work on multiple levels at the same time I think that's how finance would change I think one of my advisors to me at my Take Action conference was one of the co-founders of Emerge America which is a network of democratic women for office and she said you know it's not surprising to me that women are leading in impact investing because women always lead first right we can see if we can change it I think it's how do we hold on to it how do we hold on to this power because if you look at impact investing and it's trending to mainstream finance investing who holds right who is the predominant person in that he's not really women not people of color so we have to be so my question my challenge for those interested in impact investing is how do we not replicate that system how do we keep hold that power hold that competitive damage and part of it for me is beyond your question that's fine is how do we also incorporate the communities about which we care I know that when I was doing investing my colleagues who were actually the portfolio managers we never talked to anybody in the local communities as to what they wanted and I think that it's a hard thing to do right even as I figure out okay if I want to work in the Asian-American community for example I'm second third generation so I don't speak Chinese but I have a long history here and I know the right organizations where I was on the board like where we go and get that dialogue get that trustee relationship and actually build something that that community really wants but that's at the small level right like that with the micro stuff that will really make a huge difference and where I'm trying to figure out is how do you take something small and then also get it up to the billion dollars where you know one more trillion dollars where it can really really make a difference so I think that ability to think from small to big is something that women do very well as well as holding a lot of investments at the same time this isn't the other end of that or the other part of that dance is I live over in Social Justice Landia where most folks are working really hard in the profit sector to make changes in their contexts and their communities etc and most a lot of I will say a large percentage of people who are working in our profits have no clue about how money works they might know how to you know there's a budget that's not how money works right and so there's some work that needs to be done on the ground about having leaders see themselves as actors in the system as opposed to act it upon and there's work there and it's more than just financial literacy which I could never hear that word again I'll be alright but because it isn't just about how to add up numbers and make sure you're spreadsheet in order and as I'm learning this this is not that hard some of the minutiae of a particular product might be tricky because you need to get the law right and that kind of stuff but basically it's one of the set of agreements by which money flows and so many of us have stuck over in I'm anti-capitalist without understanding that our nonprofits absolutely depend on the capitalist systems and if we don't actually act in it then we will continue to be victims of it so there's that piece on the other side which is the interrupting the notion that we have the power when in fact we have a lot of power to take so one of the things when we were talking about this panel and one of the things that sort of intrigued me about this is the title of Money Divas which I think is kind of playful one of the things that occurs to me about when we get comfortable in a space and in our skin is that we actually become more playful that we can hold things lightly and I would say that I think my personal breakthrough around that came when we were working on carbon taxes and I set up a URL I set up a website and a URL and it said taxes are sexy and it was really weird it was intended to be provocative it was an invitation we were able to say what are you talking about and we did it on campuses and young people made all these funky t-shirts and they made underwear that said taxes are sexy and all of this stuff and it was really about getting people to go there's something really sexy about a strategy that's underutilized by progressives to kick butt and you're inviting when you're playful with something you invite people to come inside it and so financial literacy is hideous for the most part because it's dry it's toast it's pedantic and poor people tend to live inside oral cultures and it tends to be very exquisite sense of humor and so I think when we're thinking about teaching entrepreneurship teaching financial literacy teaching economics making these things accessible to people it's really important sometimes to play and make it ridiculous and funny and quirky because it creates a different way for people to come inside it so recently I was like trying to get this feeling like economics so I went and bought a bunch of books on it and here's what I found out it's made up this is made up shit I was like really it's not like science it's not like something from the universe that is eternal and sacred somebody said let's do some let's pretend like it's a mechanical system and we'll call it flow I'm like oh well so it was made up from the gate we can remake I'll build on that first of all we're talking about one of the statements earlier about the system the Dalai Lama has a great quote that sort of puts in perspective it is important to understand how things work and we're talking about how to maybe make that accessible in a way that actually we can stay awake long enough to rock what we need to but the Dalai Lama says first you must understand the rules so you can then break them properly and so I'm okay that for me to suit up I want to understand the rules but you can then I'm there to break them properly another one and I had that same kind of really staggering around economics like my first economics course and that means for we almost treat them like the tablets brought down and they're before we must and I'm like someone made up those agreements which became the universal agreement and now we're doing it it is time for a new universal agreement and I'll come back to the leadership of women we gotta bring on our inner diva and our outer diva and understand that we are the ones who can break the rules properly who must redefine the rules now and be fair to all of us because there is no other way and that's why this is the right title for this course because it's not only how we're bringing it on in hours but it truly is the challenge and the invitation to do this ourselves the leadership is not coming from anywhere else let's break it properly in other words this is a similar question to the first one but I'm gonna give it a shot because I think we may go somewhere with it I'm gonna break down my team listening my lawyers listening nobody's listening nobody's recording this right mostly I want to break the rules I set for myself I think I have a habit of stepping on my own head and so I really want to I want to get more permissive with myself I want to be more gentle with myself when I mess up because I do hard things and I take risks but I really want to get out of my own way I want to break the rules that break my own heart and that prevent me from being as big as I can be because this is a time to play really big this is whether you believe we were chosen for this time whatever you believe about this moment in time extreme poverty climate change the grave injustices of this moment call us to be enormous so I want to break the rules that keep me from being really really big for good what rules do you want to break well we got the fiduciary win that was good that was a good one so I want to break the rules that say you can't put your values in your investing that's been something that's been very separate I want to break the rules that say shareholder value is the most important thing I just wrote this chapter for a book that's coming out in the spring it's called Visionary Evaluation for a Just and Sustainable World and I was invited to by a dear friend lovely Dylan who came out of the Gates Foundation and we're trying to figure out how do you how do evaluators which have been evaluating the good work of agencies government agencies and nonprofits how do they bring their secret special thing that they do to this field when what they measure is a decade and what financial people measure is hours days maybe if you get to the 10-year mark with some other private equity venture capital things and we were trying to figure out how do you break the rules that you can't measure how do you do that and I know there's lots of iteration lots of people are trying it but how do we say look this really matters and how do we make it so that there's this thing I'm sorry I'm thinking a little bit on this but that's another rule it doesn't have to be fully formed before we have that how do we make things before we do stuff or can we have a thesis about it before and say yeah this is okay people can do it so one of the things I thought was interesting I was talking to a friend at one of the largest pension plans in the country he said I need to plan so tell me what's going on with impact investing it's going to take me three years to turn this ship around right and partly at their systems internally and at COP 21 they came out with a billion dollar product right and it was just from a set of conversations that he and I had around what was going on and can I connect into these different people but I'm wondering why does it take so long is it just the systems or is it because there's a values piece and there needs to be this justification because I know that investment managers take leads on intuition all the time so what is it about this particular impact investing that stops people from I mean some of them do it right like Maya can do it and she can get the returns but what is it particularly that stops and why is it different I want to go back to all of you we only have a few more minutes but I'm wondering what inspiration for breaking the rules you might have gotten here today hey a minute and talk to each other what rules might you want to write we will never actually get there we'll never actually choose to know why we're all this is like the citizens they're home or atlas you know the U.S. has goals they've never made the goals we never made our goals and the way that time has to take a long time so that's the rule I think it's a deeply deeply-grained rule our culture on the west and today we're first going to hold this mindset and it's funny about it in a lot of ways but yeah we actually can accomplish these goals and we can do it in the next 15 or 10 years and we have to a man that I'm very close to named Kevin said at us session we were having with a bunch of clergy when they were asking about money and he was saying well if we tried to do it so Kevin they said well that's way too hopeful and he said the times are too deep and dark for anything but hope and I think that's what you're saying we can't play this safe we gotta do it and the honest hope is actually a knowing that we actually can do this we can accomplish this and I want to throw in here that one of the things we talked about as we were anticipating this panel was how prepared should we get we decided to not prepare and it was important because women often think oh I'm not prepared and we've been prepared let me say that again women stop ourselves because we think we have to get prepared and we've been prepared so if we stop trying to prepare to get ready to do something and just freakin do it and trust that we have done enough preparation otherwise we wouldn't be faced with the thing to do so just jump and don't jump by yourself by just the students we got many to jump there you go come on it's understandable but definitely not by myself and maybe not in our lifetime and that's a so great fact that I was recently from listening to Melissa Perry because I give her credit but the reality is sometimes these struggles are long and we're not guaranteed victory and there are people before us who taught us that and I'm trying to lean on those lefties to know okay I might have to be fighting and not with that finish line but it's still worth fighting and I'm from India so in my family in my society always we learn that yes girls can go to school girls can do that job but end of the day you have to marry and go to the husband family and you have to follow them you can't do against them you can't go what they are saying so that makes me that to break that rule that girls don't want to go to husband's house and do what they want to do because what I think that it is in our I believe that this is in our blood girls and women they believe that even I am a working woman I have to manage house so I don't want that how do we get them like at an early stage to go to school training finance a lot of us finance is dirty but I can hold so much power hearing all of you and so the rule that we want to break is that little girls shouldn't be worried about money little girls shouldn't be worried about ads it's not their thing it is their thing so that's what we need to start my dad told me a million times you don't know the value of the dollar you don't know the meaning of the dollar teach me you know job the intersection of money and need there's many of us from what do you call it nonprofit dandio or social dandio there's then investment capital thinking there needs to be more intersection we need to learn how to be actors in the system it seems to me there's a challenge here for sharing of wisdom and teaching that would influence the infrastructures that exist and create that intersection and I wonder when you put out a challenge how can we create a learning space for women to be more actors in the system and know how to create new things that's a great idea what do y'all think I think you should take some leadership around that alright then maybe we all need to take some leadership but I think it's a great idea and let's see what happens yes and I run this conference and we're now four minutes over we're going to break and we have to be on time but this will be the last comment so I wanted to especially for exactly what you put out where nonprofits and investment managers and entrepreneurs and academics and professional entities can all come together and meet in one state and we're going to launch it in January so I would love to have all of you participate, Kimberly and I have already and I want to interrupt two other things to come with that you made about women in finance we have an organization called Institute on Campus and we are in about 20 campuses today across the country trying to grow by about 20 to 50 years to do exactly that find young people and particularly women we have a whole program for mentoring women out of the university structure and pulling them all the way up through and finding jobs for them and all of that with anyone and I wanted to thank you because one of the things that's really worried to me I was sharing with my neighbors here is that one of the things I want to help is abuse and abuse of women all around the world and that's something that I've already got to think about every day of my life and you just gave me a tip that may be able to solve in my life but we all have to do that Thank you all for being here Not prepared I would actually like to do a plug because I'd like to help we're launching a fintech called OnePebble.com I am proposing to them that we have a women's leadership level and that we do it in a different way of how we develop it I'm going to take the challenge of this room and invite you you write Kimberly at OnePebble.com if you'd like to play into that because I'd like to prove that what we started today is a force in the world and give me a place to apply it tomorrow