Access and Opportunity

American entrepreneurship had been on a 40-year decline. But 2020 is the year that turned around; entrepreneurship is on the rise once again. According to the U.S. Census Bureau, aspiring entrepreneurs filed paperwork to start 5.4 million new businesses in 2021. This recent surge in entrepreneurship has been disproportionally attributed to women and people of color, so for this special two-part series we’re honing in on an intersection of those two identities: Black women. 

In the second of our two-part “Black Women Entrepreneurs” series, available in your feed now, we’re broadening the lens to dig into the cultural and business forces behind the rising tide of Black entrepreneurship and the marketplace changes needed to further empower its growth. Carla joins innovative business leader Melissa Bradley in Washington, D.C. to discuss 1863 Ventures, a national business development nonprofit accelerator and venture capital fund for historically underestimated individuals. The organization is on a mission to generate 100 billion dollars of wealth for founders by 2030. Through 1863 Ventures, Melissa is working to create an entrepreneurial ecosystem where Black founders, including the rising tide of Black women business owners, can thrive. Come on and join us for the ride.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2023 Morgan Stanley & Co. LLC, Members SIPC.

According to a 2021 report in the Harvard Business Review, 17% of Black women are in the process of starting or running new businesses, compared to 10% of white women and 15% of white men. For this special two-part “Black Women Entrepreneurship” series, Access and Opportunity is on the road in Washington D.C. – recently named the best city for Black entrepreneurs to start a business – to hear from the women driving this Black business boom by putting community at the center. 

On this episode, Carla visits entrepreneur Angel Gregorio at her spice shop turned small business incubator, The Spice Suite. Angel, a former assistant school principal, took the leap into business ownership in 2015 after taking over an open retail space. As Angel became a community fixture, she began letting other Black women use the space for pop-ups to sell their own goods. Soon, a tribe was formed calling themselves the Spice Girls, a community of Black women small business owners who support each other's unique entrepreneurial journeys. We’ll hear from Angel and two of her Spice Girls, Sam Smith and Tiaa Rutherford, about becoming entrepreneurs and how their community has helped them chart paths forward. Come on and join us for the ride.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2023 Morgan Stanley & Co. LLC, Members SIPC.

An extreme funding gap exists for Black female entrepreneurs who, in 2021, received merely 0.34% of the total venture capital spent in the U.S. in the first half of the year, according to Crunchbase. And while more concerted efforts to diversify capital allocation have come out of these jarring figures, the community of adequately funded Black female founders remains incredibly small.

On this episode, we speak with one of the select few Black female founders who got her funding. In 2021, Monique Rodriguez, founder and CEO of Mielle Organics, broke the glass ceiling for Black female founders, inking a nine-figure, non-controlling investment deal with Berkshire Partners. She shares how she turned her passion for women’s health and a nursing background into a global beauty business, and discusses how her atypical path into entrepreneurship became her biggest asset. Then, host Carla Harris sits down with Monique to discuss the obstacles and opportunities that lie ahead for her as a leader at this pivotal juncture of scaling Mielle. And Carla draws upon leadership insights from her latest book, Lead to Win.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

The barriers to entering and staying in the workforce are complex for disabled people, and magnified for disabled people with additional marginalized identities. This results in long term impacts to their household wealth: in the United States, the median net worth among households with adult members with a disability is $33,318 less than the national median, according to a report from Prosperity Now. 

On this episode, we learn how unemployment drives the disability wealth gap and how advocates and entrepreneurs are working to drive change for the betterment of the disabled community. First we hear from disability scholar and advocate D’Arcee Charington Neal, who draws on his lived experience as a disabled Black person in order to advise companies to reduce ableism and racis in the workplace. Then, host Carla Harris speaks with Inclusively co-founder and CEO, Charlotte Dales, about how their technology is making it easier for companies to hire disabled people.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity 

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

A recent survey commissioned by Nova Credit found that nearly half of immigrants said a U.S. credit card is hard to obtain. Without a credit card or any type of credit history to their name, immigrants are likely to find themselves identified as “credit invisible” and unable to establish their financial identities. On this episode, we learn from those with firsthand experience navigating the American credit system as immigrants and how they’re channeling lessons-learned into solutions that are making the pool of creditworthy people more inclusive.

Host Carla Harris is in conversation with Wemimo Abbey and Samir Goel, two business partners who were inspired by their own immigrant-centered upbringings to break down the barriers that not having a credit score poses. Through their company Esusu, Wemimo and Samir developed technology that shares monthly rent payments with the three major credit bureaus, expanding the types of reportable data used to help immigrants build their credit score.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

Around the world, over 80 million individuals are displaced according to the UN Refugee Agency, with many forced to flee their homes for prolonged periods of time due to protracted internal crises. While emergency aid may provide for their immediate basic needs, it in no way supports their quality of life nor does it create a pathway to building a future in a foreign country. On this episode, we discuss the unique challenges that exist for founders uprooted from their home countries. First we hear from a displaced entrepreneur in Iraq who shares how he started an agritech business called Green Shovel. Forced to flee his home country due to civil war, he found support for his new entrepreneurial pursuits in Five One Labs, a startup incubator dedicated to supporting displaced individuals with operations in Iraq and now Colombia. Carla sits down with the founders of Five One Labs, Alice Bosley and Patricia Letayf. They discuss the hurdles that exist for refugees looking to start their own business abroad and how supporting their endeavors benefits us all. Through education, access to a local network and grant seed funding, Five One Labs seeks to give displaced persons the tools and on-the-ground support to not only survive, but thrive.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

In May of 2022, the U.S. Soccer Federation agreed to a landmark deal awarding equal pay for the women and men of the US National Soccer teams. On this episode, we look at what this move means for other women’s leagues charting the same course towards equity in pay and beyond. 

First, we hear from Los Angeles Sparks player Nneka Ogwumike about her path to becoming a decorated player in the WNBA and how she’s using her platform to engage the league in conversations about equity. Nneka also talks about the importance of unifying all women’s sports leagues to collectively push forward progress for all. 

Then, host Carla Harris sits down with venture capitalist Kara Nortman, owner of Angel City FC, a women-owned soccer team that is raising the bar for investment across the league. Kara gives insight into the power and potential that she sees in women’s sports through fostering fan loyalty and engaging with the community.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

In America, real estate investment has been the primary way for people to build wealth that they can sustain and pass down to their children. But the vast majority of those who get a piece of the real estate pie are white men. Real estate investment has a long history of systemic inequity due in part to racist lending practices and exclusionary urban planning Despite the challenges, there are BIPOC entrepreneurs working to change the exclusivity of this industry. On this episode, we hear from two individuals working to make real estate investing more accessible. First, we hear from real estate consultant Lisa Phillips about how she turned her initial failure in real estate investing into a successful consulting business helping other Black professionals navigate an industry that kept them out. Then host Carla Harris sits down with Ryan Williams, Founder and Executive Chairman of Cadre. Ryan discusses what inspired him to create the fintech platform and how it aims to democratize real estate investment.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

Indigenous voices have been left out of the conversation around climate change, even though they are among the first to face the direct consequences of global warming due to their interconnectedness with the environment and its resources. On this episode, we hear from Indigenous leaders working to uplift Native voices and bring generations of environmental wisdom into the fight against climate change. First we hear from Nikki Cooley of the Navajo Nation. As the co-manager of the Climate Change Program at the Institute for Tribal Environmental Professionals, Nikki combines Native teachings with Western science to advise fellow tribes on how to adapt to climate change. Then, host Carla Harris speaks with Red Lake Nation member Robert Blake, founder and CEO of Solar Bear, a full service solar installation company. Through education, workforce training and demonstration, Robert is on a mission to realize the economic and environmental benefits of including Indigenous perspectives within the transition to clean energy.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.

Too many people in the U.S., particularly those from communities of color, live in geographic areas that have little to no access to an affordable and adequate supply of healthy and fresh whole foods. Unequal access to quality food has ripple effects across health, performance in school, and ultimately, the ability to generate wealth. On this episode, we learn about how food industry professionals are working to eliminate food deserts across the country. First we hear from entrepreneur Cassandria Campbell, who co-founded Fresh Food Generation in Boston after moving back in her early 20s to find that her community continued to lack places to get a quick, healthy, delicious meal. Then, host Carla Harris speaks with Something Better Foods founder and CEO, Chef GW Chew, about scaling his plant-based food manufacturing business in order to make securing fresh food a reality for all people.

https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity

Disclaimer text

The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.

This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

© 2022 Morgan Stanley & Co. LLC, Members SIPC.