Only 10% of Fortune 500 companies have female CEOs, even though women make up 47% of the workforce. And female founders only get 2% of venture capital. When Sophia Amoruso coined the term ‘girlboss’ in her 2014 memoir, #Girlboss, she helped spark a movement for women to step into more leadership roles. But then she and a couple of other girlbosses faced backlash over their management practices, including creating toxic work environments. Compared to some of their problematic male counterparts, though, these women ultimately lost control of the companies they built. Fast Company senior staff writer Liz Segran breaks down why the reign of the girlboss is over and how the next generation of founders shouldn’t feel compelled to follow their playbook.
“I have no intention of raising money and blowing up and trying to take over the world,” Bite founder and CEO Lindsay McCormick says. The sustainable toothpaste company’s goal is to stay small, stay true to the customers that they serve, and continue to be able to trailblaze. She said the company aims to show big brands that there is something to be done about caring for the environment. “And if you do it right, people will get on board.”
And check out Stephanie Clifford’s coverage of the ongoing SBF trial.