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- I'm Edie and I'm very pleased to be here

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with Jessica from BCG.

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Thanks for coming along.
- Thank you.

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- And you've brought a
couple of friends with you

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from the People of Crypto.
- Exactly.

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- You brought Simone and Akbar.

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Welcome to you all.

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- Thank you.
- Thank you.

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- Very happy to be here.

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- So we've got an interesting
topic of conversation,

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and we're going to talk about
gender diversity in Web 3.

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Any good news?

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- No, I'm going to ground
this in horrendous facts-

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- OK.
- for a starting point.

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- So we did a statistical
study with these guys

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trying to focus on foundation in Web 3.

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So when we talk foundation,

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we talk of startup founders and investors,

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and we took a good look at the space.

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And when you look at all
of the founders in Web 3,

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a horrendous only 7% of them are female.

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- What?
- 7%.

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- Wow.

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- And there's a reason for that.

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And the reason for that is
when female entrepreneurs

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actually decide to create startups,

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they are almost 78% of them

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that actually find a
male to co-found with.

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If you are a male and you
want to create a startup,

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then 74% of them actually
choose male also.

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- Wow.

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- And so that is at the root
of that huge discrepancy.

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But there's also a very
rational reason for that,

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is if you look at how much money

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these companies actually raise,

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a company that is all-female
founded will raise

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four X less money than an
all-male-founded startup.

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Let that sink in...four X.

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It means that if you're
an all-female team,

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you will likely raise
about 8 million on average.

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And an all-male team will
raise 30 million on average.

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That's the gap.

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And then when you look at why that is,

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you look at startups that have raised

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more than a hundred million,
so a very sizable ticket,

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their share of all-female startup teams

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in that hundred million
raises is less than 0%.

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- Wow.
- So it's, actually,

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there is none.

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- That's incredible.

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- That is our starting
point in the Web 3 space.

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- Okay, given that cheery starting point,

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Simone, why does it matter?

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- So I think, first, there is opportunity.

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So we're very, very
early in the intersection

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of this technology.

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It matters because we are
now moving into a phase

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where how we transact, how we monetize,

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and how we interact together
has now become more important.

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People always talk about
Web 3 as the evolvement

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of the internet.

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I think it's far more important than that.

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When you look at like a
light bulb, we used to go on,

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a hundred years ago, but
you would go on the streets

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and you would watch the street be lit up,

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or you would watch a building be lit up.

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No one understood what
that light bulb would do

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for the industrial revolution.

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It basically kick-started it.

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So now we are looking at Web 3,

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moving from this industrial status

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now into a digital economy.

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And if we are not part of
the development as women,

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as people of color, as diverse voices,

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it will be built in the image of those.

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And we've already seen what happens

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in Web 2, where you saw
predominantly cis white males

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creating these ecosystems.

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We don't want Web 3 to now become

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a repetitive nature of Web 2.

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We have the opportunity to
intersect with intentionality

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and really understanding
that the foundational build

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has to be built differently
for us to make change.

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And again, I do think there's,

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as bad as that was, there is opportunity.

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- Totally.

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- Well, we have a female
founder right here-

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- who fund-raised successfully.

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- We did successfully raise...

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- Fantastic.
- ...with her male co-founder.

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- Yeah, that's true.

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- OK. Alright. Well, congratulations.

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So Akbar, what can brands
do if they care about this

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and want to get involved
and want to make change?

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- Yeah, they're so paramount to this

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because brands drive culture.

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Brands drive awareness.

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If you look at groups
like L'Oreal, like LVMH,

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their followers are loyal.

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They have millions of fans and followers.

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So if we can use them
as a tool to educate,

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if we can let them know the
importance of this technology,

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if we can let them know why
we need to bring women in,

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break down barriers to entry,

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think about the mass onboarding
that that could entail.

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Women are going to be
the catalyst for change.

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I feel they always have been.

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And women, when women come on
board, they give other voices,

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underrepresented communities,
like the LGBTQIA,

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like people of color.

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So we need women at the table

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and we need brands to
come in and support women

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and women-like brands.

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And we need VCs to pay up.

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And back women.

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So it all kind of works together here.

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- Here, here!

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- And that's really why we
founded People of Crypto.

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We did not see ourselves represented

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in the current ecosystem.

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We believe that for us,
diversity is not a word.

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It's the foundation of our company.

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If you want to be a profitable company,

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it's already shown that diverse teams

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are more profitable than others.

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So while it's the right thing to do,

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it's also the profitable thing to do.

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And when you're looking at
the way that we've created it,

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we've been very intentional.

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So our team represents 98% women;

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99% are people of color.

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When we look at our cap table,

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we were very intentional to ensure

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that anyone coming on board

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would be part of our mission and vision.

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The projects that we develop
are created to ensure

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that it's reflective of the world

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we want to see reflected back.

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And those are the reasons
that brands, honestly,

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have a way to authentically connect,

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like what we did with L'Oreal.

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Because it's not beyond or abroad,

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it's part of who they're
already speaking to.

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And when we're entering Web 3,

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to the point of, it cannot be a loophole,

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it cannot be a DNA, like,
oh, well we're over here,

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we're talking about diversity.

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But then when we get to Web 3, it's, eh-

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- Not so much.

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- Not so much.

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There has to be intentionality
as you move through it.

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- Fantastic.

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You know, I, my feeling
about diversity's inclusion,

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we don't need to make the
world any more diverse.

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It already is.

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But we do have to focus
on the inclusion part.

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So we started off this conversation,

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I wasn't feeling so positive.

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I'm feeling more positive
with you guys in here.

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So thank you very much for
stopping by the studio here

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in Davos 2023.

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- Thank you.

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- Thank you.
- Thank you.