What makes Ellevest truly interesting is not just that it is focused on empowering woman, it's the way that it plans to make that happen. The company understand the challenges woman face in climbing the professional ladder and have taken the time to address those needs in the product. There is also the issue of woman statistically living longer than their partners, which requires a solid financial plan for retirement. I'm always for startups that build their product-market fit before the product is even built, and I'm even more for empowering more females to step into tech and finance. Breaking more boundaries and biases is key to change in these industries. Kudos.
Women, for example, need a platform that takes into account not only her earnings, but also her salary arc — which is different from men’s. It needs to account for the fact that women live longer than men, on average, when planning for retirement. It needs to understand the salary differentials between a woman’s pay and her male counterpart’s pay and how that impacts her strategies.