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>> From Phoenix, Arizona, The Cube.
At Catalyst Conference, here's your host, Jeff Frick.
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>> Hey, Jeff Frick here with The Cube.
We are in Phoenix, Arizona
at the Girls Who Code Catalyst Conference
It's a great show, about 400 people; they're fourth year.
It's going back to the Bay Area next year,
so I wanted to come down,
talk to some of the key notes, some of the speakers.
And really give you a taste if you weren't able
to make the trip to Phoenix this year of what's going on.
So we're really excited to be joined by our next guest,
Fran Maier, she co-founded Match, she co-founded TRUSTe.
Serial entrepreneur, the start-up veteran.
Fran, welcome.
>> Thank you so much Jeff, It's great to be here.
>> Absolutely.
So you were giving a presentation
on really what it is to be a woman entrepreneur.
>> Yes, so I've been a internet entrepreneur
for now more than twenty years
going back to when we started Match.com.
And I joined that in late 1994.
We really launched around 1995,
about 21 years ago, this month, April of 1995.
>> Time flies
>> And many of the things that were still very much,
I think, in the early years of the impact
of the internet and mobile and cloud and connectivity
on our lives,
but Match.com has proven to be what they call a unicorn,
a very successful new business model,
but more than that many, many people have found their
life partner or at least a few good dates on Match.com.
So I am always very happy about that.
>> And you're way ahead of the curve.
Now, I think, I don't know, I've been married
for over twenty years, but I think a lot of people
that's kind of the first way >> Yeah.
to meet people.
>> Not the second way.
Where when you guys first made Match.com,
that was a pretty novel idea.
>> Well, well now they call dating
where like we used to do it,
where you met people at parties and bars,
now that's called dating in the wild.
>> In the wild (laughing)
>> So the more natural thing is using Match.com.
But from an entrepreneurial support,
I was one of the only women
who was involved in starting company in the mid-1990's,
still women are less than 10% of TechFounders
or venture-backed founders.
Women raise a lot less money.
And so one of my passions and why I am here
at Girls in Tech is to try and impart some of the wisdom
gleamed over twenty plus years.
>> So what are some of the ways that you see that barrier
starting to break down?
Is it just, you just got to keep banging on it
and slowly and slowly it will move and
>> (murmers) >> So I think there's been
some difference, I think it's a lot easier
to be an entrepreneur of any kind now
>> Well that's true. >> than it was
twenty years ago.
I mean, now having
meals delivered to you
and the sort of support like Girls in Tech,
there was very little of that guidance
or certainly there were very few role models,
>> Right.
>> Twenty years ago.
So that certainly has changed.
I think another big change, and this is probably over
the last two or three years,
is that now women feel they can speak out loud
about some of the issues.
And that there is some,
men are willing to listen, >> Right
>> Right >> at least some are.
>> We still see things like TechCrunch
a couple of years ago had a team
present a new mobile app called Titstare.
We still hear about things like that.
We still, there was a survey called The Elephant
in Silicon Valley that
itemized stories and stats about women and sexual abuse,
other kinds of harassment, exclusion,
not being invited to sit at the table.
So a lot of that stuff is still going on.
But I feel like we can call it out a little bit easier.
>> Right, right. And it's ...
>> Without retribution potentially.
>> Is there, is there, kind of a tipping point
event,
action, that you see
potentially as to kind of accelerating ...
accelerating it? >> Well I think the media,
since lead-in has really kind of picked up on this
and discovering it.
And the Ellen Pao trial,
last year;
I spoke a little bit about that,
where she brought suit to Kleiner Perkins.
She lost the suit, but it started the dialogue.
>> Right.
>> So I think a lot of this is, is happening
and my approach is to try and ...
I see, I advise so many start ups.
And I see business plans.
And almost invariably the business plans from women
aren't big enough.
They don't say "Hey we're going to be a hundred
million dollar company in five years.
And we need to raise five million dollars to get there."
>> Right.
>> Women play it more safe,
and,
I don't think that,
I'm trying to encourage them to take more risk,
to figure out how to do it, to play to win.
>> Right.
Play big to win, right?
Playing big. >> Play big to win, yes,
swing big.
>> It's interesting, on the Lean In,
you know Sheryl Sandberg's,
I don't know if ground breaking is the right word,
but certainly ground breaking. >> Surely, yeah.
>> But the Golden State Warriors right now,
probably the most popular professional sports team
in the country, at the zenith of their success,
they have a Lean In commercial.
I don't know if you've seen it
in the Bay Area, >> I havent seen it!
>> where all of the players talk about leaning in.
And it just so happens that Steph Curry,
their number one superstar, >> Sure.
is very close to his wife.
She has a cooking show. They're very family orientated.
Green ... >> But I thought you
were going to ... >> Draymond Green has his mom,
who he just constantly just gushes about his mom.
And so they, as a male sports team,
have a whole commercial they run
quite frequently on specifically Lean In.
>> Well I, I appreciate that.
I also, though, read the article that,
that team is owned by bunch of venture capitalists.
They all get together and play basketball
and it reminded me of a little bit of another place
where women have been excluded.
And so I was talking to a venture capital friend of mine
saying "Buy into the Warriors,
or let's buy into a women's soccer team."
And you know sports being what they are,
it's almost a different thing,
but the news about the women's soccer players
being paid much less than the men,
even though they generate more income.
It's just another example, profession by profession
where women are paid less or have less
opportunity to advance.
>> But to your point, I think people understand it,
it's not right, but I think everyone
pretty much knows that women aren't paid the same as men.
But that was interesting about the soccer story,
to your point is it was brought up.
>> Yeah we could talk about it. >> It wasn't a retribution,
right?
It's like hey, you know, we're not getting paid
and they listed the numbers in Sports Illustrated.
They were dramatically different.
And, in fact, you know, one of the knocks in the WNBA
is that you can't make a living as a player in the WNBA.
You just can't.
They pay them like, I don't know
>> So they should have been.
Yeah. >> $60,000. Whatever it is.
You know they have to go play in other places,
foreign countries to make enough money to live.
So I do think its interesting, your point that,
you know, the exposure of the problem,
the kind of acceptance that we need
to do something about it,
does seem to be in a much better place than it used to be.
>> The other thing that I think that these things illustrate
is one of the messages I try and get across,
is women tend to settle for too little.
You know, they don't necessarily negotiate for themselves.
Out of college they don't do as well.
They, I've talked to many women who they felt
that when they were raising capital,
or negotiating deals,
that the men on the other side of the table,
mostly, not always of course,
it sort of said, "Hey this is great,
you should be happy to get this.
How many women get this?"
And that's not really the issue.
The issue should be, you should be getting what you deserve.
I learned that the hard way,
we talked about it a little bit, awhile ago,
where Match.com was sold in 1998
for less than $10,000,000.
And I was the general manager,
I had grown it, we were number one,
we were cash flow positive,
although probably shouldn't have been.
And I walked away with a hundred thousand dollars.
And,
at the time,
sure that's a lot of money,
but nobody seemed to encourage me
that I probably could have raised the money
and led the investment and had an equity round.
A year later Match.com was sold from Send It to ISC
for $70,000,000.
And of course I didn't get anything.
>> Yeah.
>> So that's my big lesson.
The good news is, ten years later,
I took TRUSTe, which was a nonprofit,
switched it to a for-profit,
I raised the capital,
and got my ownership in equity position.
But tough lesson.
>> Yeah, expensive one.
>> Yeah.
>> But those are the ones you learn though.
(laughter)
>> I could go through a few of those too.
So Fran, we're running low on time.
I wanted to give you the last word
and get your perspective on, kind of,
mentorship and sponsorship.
We hear those words tossed around a lot.
And that there's a significant difference between
just being a mentor and actually being a sponsor,
taking an active role in someone else's career.
Pushing them to maybe uncomfortable places.
Giving them, you know, kind of, the oomph, if you will,
that, "Yes you can do this, you do belong."
What are you seeing kind of the development of that
as people try to help more women ascend,
kind of up the line?
>> Well, you know, I tend to think of mentorship as something
that happens within a company
and sponsorship can happen within a company,
but advising, sponsoring, promoting, championing,
are things that we certainly need to do
within the entrepreneurial community of women.
So, mentoring is, I see that as a little bit more passive,
and I don't know why.
But, it's important to have people to look up to
and for you, role models are really important.
But I think the active thing of championing
or sponsoring or even being a more active coach
or advisor, is a little bit more hands-on
and willing to challenge, you know,
you're not just a role model,
you're really saying,
"Tell me what you're dealing with,
and let me see how I can help."
I just got off a phone call from one of my advisees,
she just raised the money,
great news, you know,
now she's freaking out about how to spend it.
(laughing)
>> Maybe with your next problem.
>> Yeah.
(laughter)
>> Been there, done that.
>> Right, right.
>> You know.
>> Well, it's good, good for helpin' them out,
and Fran, thanks for taking
a few minutes. >> Sure. Lot of fun.
>> Absolutely. Track Fran down
if you're a budding entrepreneur.
She's been there, she's got the scars and the wounds
from the early days, and learned from it
on the success with TRUSTe.
>> Thank you.
>> And, some great videos on the web, by the way.
I was watching them, the whole story on the Match
thing was pretty funny.
You'll enjoy it, so take the time ...
>> There's one of them where I start to cry,
I hate that,
but what can you do? >> I didn't get to the
crying part, but that's okay.
>> Yeah, yeah, that's all right.
>> That's what happens in Jerry McGuire all the time.
All right, well thanks a lot Fran.
>> Thanks so much.
>> I'm Jeff Frick, you are watching The Cube.
We are in Phoenix, Arizona,
at the Girls in Tech Catalyst Conference.
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