They raise awareness of todays critical issues. If you turn on the news to check twitter youll see theres no conversation were timely than tonights discussion gender equity in fostering work environments where everyone has the opportunity to thrive. I have been with bank of the west for over 35 years. Its fair to say i see many changes in the Financial Services industry. One shift is increased role of Women Leaders and banking. Bank of the west ceo was named to one of the most powerful women in banking by the american banker. Other executives are head of small and medium enterprises, or general counsel and are head of community have been named as influencers in their areas of specialty. In our Parent Company is committed to gender equity and half of the Board Members are women. Im proud to represent a company that supports a culture of respect for all of its employees. One focused on ideas and business so we do its right for our customers and community. Its my hope the conversations we have tonight inspire all of us to support each other and have a safe environment for women. Its my pleasure to introduce emily, author of broke topia, breaking up the boys club of Silicon Valley. Emily is an anchor and executive producer of bloomberg technology. She regularly speaks with top tech executives, investors and entrepreneurs as the host of bloomberg studios 1. 0 series. She began her career as a news producer at nbc in new york. Then she moved to the affiliate in san diego where her reporting for msnbc one her five emmy awards. She spent several years at cnn in beijing and london before joining bloomberg. Emily is a linkedin influencer and member of the lien and community. She was named one of the top 100 influential tech people on twitter by Business Insider the most influential tech women. Emily is a graduate of harvard and sits on the board of the nonprofit organization, build. Moderate in the program is gina, founder and ceo of mighty networks. She was previously the ceo of me and entrepreneur in residence at anderson horowitz. Please join me in welcoming emily and gina. [applause] you can tell shes a journalist used to doing the interview. But tonight i get to do the asking of the questions and im excited. Jean is very excited thank you all for being here tonight. I think it will be a wonderful conversation, emily just wrote a book it is wonderful. Its about women in Silicon Valley and technology. I thought we could start with questions that are super important that most startup founders most people who will be raising money get asked we talked about building startups and inventing the future task about what important truth do you believe underage beer a few people agree with you im not done, given some of the research and statistics you found in your book around this radical idea that women should have equal opportunity and could contribute to Silicon Valley success in the industry, where did you get such a radical idea . It was radical at the time. This is before trump and before me too. People would whisper about it we talk about it offcamera and then nobody would say what they really wanted to say. A woman who is raising money doesnt want to risk not raising money because shes calling out investors who are 93 male. Yet everybody had ideas about why women have been left out. Women account for 25 of computing jobs, Women Led Companies get 2 of funding. 2 people have ideas about why this happened like its a pipeline problem so everybody deserves to be where they are, and then when i went back and started doing research i realized women were not the hardware makers but involved in the software of the computers because educated women were encouraged to study math. The Program Computers for the military and nasa but industrywide. Then as the industry started to explode the jobs became higher status and higherpaying the men wanted the jobs. The industry was so desperate for new talent they hired psychologists to develop a test. They decided good programmers dont like people. Thats interesting. There is no evidence to suggest that people who dont like people are better at computers than anyone else. But if you look for people who dont like people you hire are more men than women. These personality tests were influential were used by Tech Companies for decades. Were talking about Companies Like ibm and it solidified the idea of the antisocial white male nerd stereotype that has existed, theyre looking for people like Mark Zuckerberg and executives. Unfortunately that has shut out more than half the population. As you are thinking about this project in addition to your day job why was this important to you . First of all, its so unjust. Its not just the right thing to do, its a smart thing to do. Silicon valley is controlling what we see and read, how we get around to communicate, how we shop for an industry thats transforming our lives every day the people making the products shouldnt be 95 male. Its a problem thats not just Silicon Valleys problem, its a world problem, a cultural crisis i also have three sons i fully believe that their lives will be better and a more equal world but for all of the parents who have sons and daughters i want their daughters to succeed they wont stand a chance if the industry does not change. This is a well researched book. One thing you did was to go into the statistics of the research. You mentioned one stat of man be a 93 of Venture Capitalist, women getting 2 of Venture Capital dollars released on 2016 numbers. Uber with 20 some billion dollars. I think jennifer is one of the most successful ceos. The amount of capital you raise if you raise more money you get more chances to figure it out. You have more time so if a woman is getting 10 million and a guy getting hundred million, whos getting a better shot . What were other statistics that in your research you are like bison anybody talking about it first of all, it wasnt always this way. By 1984 windows was being introduced to the world. Women accounted 230 of Computer Science degrees. That has since plummeted to 18 . And its remain flat for the last decade. Number two, the statistic of how quickly women are leaving the industry. When i started writing this a male investor said you dont have a book, its very obvious that women just want to be home with their kids. So i just nodded. Women are twice as likely to quit tech than men are. But theyre not leaving to take care of their children. Women are 800 more likely to leave jobs and technology than any other field. When i saw the number its actually 807 . I was astonished that no one was talking about it. For an industry that loves data, data tells the story. We talk about research and data, where technology should probably know these things, what you think it is that makes these numbers so easy to ignore . I believe its anybody who wants to change the world can do it here. The reason i name the book this is the cousin signifies that Silicon Valley is a modern utopia that anyone can make rules of your man. As i was reading the book i felt like the name of the book of the subtitle i think it couldve been subtitle damped if you do, damned if you dont. One things thats fascinating is the way in which you captured not just the research, the stats are clear but the daytoday experiences of women working as engineers and executives. Weakness startup founders. One of the quotes is that if you like everything i do is wrong. How does that happen . What are the different ways the stats become a reality. Its not just any schlepping Woman Working in Silicon Valley. These are women who graduate 50 or 53 provide school and come to Silicon Valley and are dropping out at higher rates. We needed to 300 interviews how did that experience come into being around everything i do is wrong. One of the most impactful moments was two weeks after susan hosted her blog post that went viral susan engineer at uber. She had a bad experience of Sexual Harassment was propositioned for sex on the first day of job as her from her male manager. She took screenshots and what she said that they said were to let it fly because hes a high performer. She wrote about it and everybody was shocked and i had 12 woman over to my dinner two weeks later including a couple engineers from uber and they were not shocked at all. So hard to describe what the women go through. They are the only women in the room over and over again all day long. It is exhausting and they are fed up and theyre frustrated and they feel like they have to perform this emotional labor to prove they have to be there which is a second job. Their studies i show that if you hide the names or if you reveal the names women get a worse grade. Thats just one example. 25 were comments on good reviews. At the same time, they love their job and they love have in their opportunity to change their world. At that dinner people were sharing their stories in summer very powerful and shocking. It goes to level of bad behavior not being just tolerated but normalize. Women would be invited to strip clubs in the middle of the day by their male managers that decide whos going to get this project or that project while theyre there but im also put in this uncomfortable position or do i not go in the ninth the cool kid that doesnt get the next hot thing. Whether at the dinner or is he talked to other women in the course of reporting on the book, what has struck to is one of the most insidious ways women is kicked out of the arena. I think its so systemic, the level to which women are outnumbered. I think a huge part of the problem is men believe they have to lower their standards to hire women. They dont say it out loud except in one instance which is the reason i decided to write this book. I was interviewing michael who is chairman of sequoia, perhaps the most of Venture Capitalist ever. Hes had a story hes had some failures as well. At the time sequoia had no female partners. He said to me i asked him how do you identify a Venture Capitalist and he said i think its difficult to see if someone will be good on investment. He started as a journalist and then got his chance on investing. I said what is your responsibility to hire women . Is expecting you cant answer and he said to me, well where the working very hard. Were completely blind to the gender, race, sexuality not enough women are studying Consumer Science but what were not prepared to do is lower our standards. I thought did he just say that . Today to me it was a moment of truth where he said will probably a lot of people believe but no one is willing to say it. And i think thats part of the problem so everywhere i went people want to talk about what he said most people are horrified. Some understood where he was coming from but unfortunately if that is what people think women are not going to catch a break. If you judge sequoia only on its actions they do not hire a woman for 44 years. You cannot tell me that in 44 years the best Venture Capital firm cannot find a single woman to hire. Youre right when i was at a Business School in 2000 i interviewed a company out of sequoia. When they were interviewing me and i was meeting the partners i think it was mike moore said we once hired a woman an intense end well for us. This is 2000. So they had a long time to look. In addition to your great relationship you also have gotten attention to the next from the book that was published about Silicon Valley sex party. I was curious as i was reading the book the book is actually nuanced and thoughtful the topic of sex parties, getting invited to go to Conference Room gr a strip club with the 5dollar allyoucaneat buffet and at 1145 its a hot lunch or Conference Room g. 1140 on a friday a woman has agreed to accompany me on the mission. Theres a line out the door attack workers at lunch for strip and trim at a strip club. So what was the most jawdropping story shared with you . That made it into the book. Stain on the strip club example, immediately invest in a woman came over to the table and i said im a journalist im just asking some questions. Shes like cap all these companies are here all the time and they comes in groups of mostly guys. Sometimes theres a woman taking a long. They talk about work and will be at their boss after the big tech conferences the walk in their door with their special badges and the makeup to private room together, businesses getting done in the middle of the day in the heart of San Francisco at a strip club. Were talking about sexism exists in every industry. In Silicon Valley, this is supposed the most progressive industry in the world is certainly the most powerful. Yet the people who have organize the worlds information when you asked them what can we do about hiring more women its like thats just so hard, i dont how we will solve that. So one of the Important Reasons i wanted to write it was simply the hypocrisy of it. I fully believe the people were taken us to mars and connecting us to the world, i believe they can do this. They can hire women and pay them fairly. And another stat for you, the pay gap in Silicon Valley is five times the national average. If you can troll for job title, experience, and location its about 5 , in Silicon Valley is 28. 5 . At the very least you can look at the data and pay women what you paying the men. Seems simple. And to be fair some text founders and executives have said im going to make up for the pay gap. Yes, there are good people in the book. That was really the best part. There are some amazing female founders. I talk about the founder of christina lake, who founded states fix, the First Investor shes talked to said no ultimately one said yes and she took her Company Public at the 2 billion market cap. Nobody believed in her. When you pitching to male investors when you have a female focused idea it can be hard to understand it. Theres also great men in the book many of these men are on their third or Fourth Company who have changed their ways and are willing to admit it. I interviewed max who admitted to me early on that he only hire people he knew. It was other male students from the university of illinois. As a result the paypal mafia became one of the most powerful networks in the world, all men. Not a single woman. His next company he did the same thing and there is water drinking and he had to push out the brose, fire some people is a double down on culture by the time he got to his Third Company and not everybody has a chance to do three, a firm he was focused on hiring and promoting women. Is willing to talk about it. Stewart butterfield, the founder of flat entrance lack has made this his priority. By the way telling people you care about Diversity Matters to the people who care about diversity. He now has 43 and half women at the company which is better than the industry average. Twitter ceo at his latest company decided not to hire another man until he hired a woman. He knows that if you go too far or way too long when youre trying to focus on diversity then its too late. In fact it might be slow in the beginning but as you go on you can move more quickly because you dont have to ask women on the street if you like their product. There are a lot of reasons this makes sense. Another one not in the book with mark they did a comprehensive pay review. Their sense equalize the salary. And if a company as big as that can do it anyone can do it. Header we get the latest culture of this . One thing i would observe having started my career on wall street and coming into Silicon Valley early on is that it wasnt always like this, even the latest series of bad behaviors wasnt always like this. Seems to be the case is also a number of Venture Capital firms have come out explicitly say we only want to invest in men who look like bill gates and Mark Zuckerberg. You have a tremendous amount of firsttime founder ceos who are getting a significant amount of money. The term unicorn to not exist as a term in a thing before six years ago. Then there has been a number of trends and things that have happened and he said in the book the social network is supposed to be a cautionary tale not a guidebook. Im just curious if you look at either things the course of reporting that have gotten worse in some things that have gotten better and how has that progressed given the last nine months another way they have led the charge an innovative and pioneering really pioneered in part because of your reporting. In the Silicon Valley, which happened months before Harvey Weinstein at the company i want to talk about is in reference to the first part of the question, google. Its much like the industry average. 30 overall winning, 20 women in technical roles. In the early days, the founders of google focused on hiring strong women, and they hired some amazing women like susan, who built their business and is now the ceo of youtube. Some Marissa Meyer who invented the search bar we use many times a day. And they scaled the ad business and went on to do the same thing as facebook. And then as google grew and it exploded over the first decade of 2000 they simply lost focus. They were not focused on diversity. They were focused on filling their seats and getting through the financial crisis, and in 2012 they lifted up their heads and