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Work Hard and Parent Happy with Mirza

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Being a parent can be immeasurably rewarding. Who doesn’t love watching their child grow into a fun, productive member of society? Parenting doesn’t happen in a vacuum, however. It takes a lot of time and hard work. Parenting is a full-time, unpaid gig. Rewarding? Sure. Mortgage paying? Nope. Few people understand this as intimately as Siran Cao, CEO and co-founder of Mirza

I’m an immigrant and raised by a single mom. My mom was one of the many women whose career took a backseat when I arrived, so when my dad left, I grew up watching my mom rebuild entirely in a new country.

“That’s shaped my worldview and what matters to me most–women’s economic empowerment and independence.”

Whether we like it or not, parenting most often falls to the women. That isn’t exactly fair, but it’s what usually ends up happening. Some of that is due to how we’ve evolved as a species, but it has lingered due to unfair gender roles and expectations. So, when it comes to deciding who has to leave work to parent the children, it most often falls to women. 

Women In The Workplace

Women were on track to match, even overtake, men in the workplace. In 2019, women made up 47% of the workforce. Since the onset of the pandemic, more than 2.3 million women have left the workforce, making women’s participation in the workforce the lowest it has been since 1988. 

Though they couldn’t have known the pandemic was about to exacerbate the gender pay gap, Siran Cao and Mel Faxon, COO, founded Mirza as a means to correct that gap for good. 

Choosing between work and parenting shouldn’t be a difficult choice. In a perfect world, a parent should be able to do both. That takes a lot of meticulous planning and budgeting that can be incredibly intimidating. 

I’ll let Siran and Mel do most of the talking here: 

How Mirza Works

The lion’s share of the wage gap is driven by the “motherhood penalty,” and the critical element here is childcare. With families spending a third of their incomes on childcare, it forces this trade-off of one person’s salary against cost of care

That person, usually mom, due to a whole slew of reasons from no paid leave, to gender norms onwards. But just one year out of the workforce means losing 39% of lifetime earnings due to the missed acceleration (promotions, being mommy tracked, etc.) and lost compounding retirement savings. 

“So how Mirza works, we tackle that acute pain point. Our tech reframes that decision for parents and aspiring parents in larger family goals and financial health view, to anticipate upcoming costs and understand tradeoffs, and be better equipped to make fully informed decisions. 

“We then layer in funding for childcare so we can fundamentally change that math of income vs cost of care. At the core, we want to make sure parents (women!) have true CHOICE.

The Math of Parenting

Mel Faxon, COO and co-founder, adds insight:

For us, tackling childcare as one of the core contributors to the motherhood penalty/gender pay gap isn’t just about helping people afford the (often exorbitant) cost of childcare, but changing how they do the math around it. 

“The visibility our product provides into the long-term implications of taking unpaid leave, of having one parent drop out of the workforce entirely for a few years – it’s not a frame through which we normally think about having kids.  

“It’s much easier/more instinctual to think right now, present day, we’d “save” money if one of us stays home rather than pay for childcare – and we’re here to show you why that’s not really the case. 

“We’re currently in a milestone situation politically, where programs like paid family and medical leave and universal childcare are being seriously considered as part of national policy moving forward.”

A New Type Of Working Parent

Mel Faxon continues: 

It could not be more apparent that single-income breadwinner families are no longer the norm. Families need and want dual incomes – and we need to structure work to support that. Care – childcare, eldercare – is something that we all have to do at one point or another, and our workplaces need to acknowledge that. 

“While our product is geared towards the individual, it’s always been fundamental that we work with employers to see that childcare is healthcare, childcare is wellness, it is financial health, and it is the future of work.

It has unfortunately been drilled into the minds of managers and higher-level executives that in order to be a good worker you need to be 100% dedicated to the company at all times with no question. Your home life, your health, your family’s happiness is secondary to the wellbeing of the business. 

That, we now know, is nonsense. “A happy worker is a productive worker” is a bit of a cliche, but it’s true. If an employee has access to healthcare, a comfortably livable wage, and a happy home life, the more productive they will be. It’s a long-term investment. 

In a world obsessed with short-term gains, it can be tough to sell long-term investments. But we need to make that sale, or else this will all crumble. 

What Do Parents Think Of Mirza?

Mel Faxon shares some of the feedback Mirza has received since the launch of their beta on October 22:

You’ve really nailed the fundamentals of what we’ve already been thinking about financially when preparing for kids”

“As soon as I signed up and filled in stuff about me, I saw good content right off the bat. I felt like I was being heard!”

“We haven’t really thought about loss in terms of paid time off, I [had] no idea, so it’s great that it’s included in the planning process.

Things are still early, but the impact is already being felt. Mel shares one particular feedback:

A really impactful comment we got the other day from one of our users, was not only that she wished she’d had this when she was family planning, but that Mirza has made her realize that she no longer has to just accept the way the world is. 

We can actually change the way things work for parents and for women, and she feels like we’re providing the information and ways for that to happen.”

What’s Next For Mirza?

Siran shares where she anticipates Mirza will move in the next 5-10 years. 

We’re tackling the childcare crisis, so that means unlocking affordability for parents first, then we’ve designed our next steps for our financial product to be able to support providers! 

“We think of an end-to-end solution to work across the childcare ecosystem: funding care for parents and helping them navigate the available support, providing the platform for providers to access funding resources and increasing earnings ourselves, innovating in care delivery itself.

Mirza is just getting started. If you’re a new parent or are about to be one, you can create an account right here

The pandemic stripped away a lot of critical progress. It’s time we work to gain it back and then some. Our children deserve it.

Chris Blondell is a Philadelphia-based writer and social media strategist with a current focus on tech industry news. He has written about startups and entrepreneurs based in Denver, Seattle, Chicago, New Haven, and more. He has also written content for a true-crime blog, Sword and Scale, and developed social media content for a local spice shop. An occasional comedian, Chris Blondell also spends his time writing humorous content and performing stand-up for local audiences.

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Billionaires Be Warned: Organized Labor on the Rise

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Last week, Apple retail workers in Towson, Maryland, voted 65-33 to seek entry into the International Association of Machinists and Aerospace Workers trade union. It’s a story that’s consistent with a promising trend.

In the last several months, a number of victories have been tallied for worker’s rights around the country.

In December, a Starbucks in Buffalo became the first of its company-owned U.S. locations to form a union. Since then, at least 150 of the 9,000 company-run U.S. stores have voted to unionize, with 10 stores rejecting the union. 

In January, engineers and other Google workers announced that they had formed a union—the Alphabet Workers Union— named after Google’s parent company, Alphabet. It represents about 800 Google employees.

April saw Amazon workers in Staten Island, New York vote to unionize, marking a first for the retail giant.

In May, video game workers at a division of game publisher Activision Blizzard voted to unionize, making them the first to create a labor union at a large U.S. videogame company.

Per a 2021 Gallup Poll: at least 68% of Americans approve of labor unions, the highest since Gallup found a 71% approval in 1965.

A resurgence of unions after years of decline.

President Biden has been vocal about his support for the decision. 

“I am proud of them,” 

Biden said in a statement to reporters. 

Workers have a right to determine under what condition they are going to work or not work.”

This is a far cry from the days of President Reagan publicly firing striking air traffic controllers, a move that signaled to the weakening labor movement that times were changing. Of course, labor rights weren’t always such a contentious topic. 

In the mid-1950s, approximately one out of every three non-farm workers were unionized. This was, of course, the peak of labor’s power in the US. 

In subsequent decades, the ranks of unionized workers would shrink. By the 80s and 90s, due to a combination of economic and political developments, the decline in unions accelerated.

The opening of overseas markets and the emergence of outsourcing put organized labor at a severe disadvantage. 

Around this same period, U.S. employers developed a set of legal— and illegal—practices that could effectively rid establishments of existing unions and prevent new unions from organizing. 

These practices included: threatening union sympathizers with firings and holding a mandatory meeting wherein workers would be subject to anti-union propaganda. Additionally, many employers hired permanent replacements for striking workers.

But Biden has been relatively labor-friendly. In February, a Biden administration task force issued a set of recommendations aimed at making it easier for federal workers and contractors to unionize.

The report argues that the trend of declining union membership has coincided with a rising share of income going to the top 10% of earners.

Youth movement gives labor unions a new hope.

After decades of decline, U.S. unions are finding hope in a growing movement among the youth. Union approval is high— and growing—with the youngest workers. This is reflected by membership levels, which are trending upwards for workers between the ages of 25 and 34. Even as they decline among other age groups.

According to the Federal Bureau of Labor Statistics, the percentage of union members among workers aged 25-34 rose from 8.8% to 9.4% 

The aforementioned Alphabet Workers Union, for example, is run by five people under the age of 35.

This is consistent with a greater political trend among young people: the youth is less susceptible to the anti-socialist boogeyman rhetoric that successfully fleeced previous generations of working people’s rights.

It’s important to remember that many of the things we take for granted today are the products of union involvement. The eight-hour work day? Labor unions. Job safety laws? Labor unions. Overtime pay? Labor Unions. Weekends? Labor unions. Worker’s Comp? Labor unions. Employer-based health coverage? Labor unions.

And the list goes on.

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Who Does Tori Dunlap Think She Is?

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If you haven’t heard of Tori Dunlap, you’re probably not seeking financial advice. If you are seeking financial advice, you can do a lot better than Tori Dunlap. 

Tori Dunlap is an entrepreneur who claims to have saved $100,000 by the age of 25. After achieving such astonishing success so early in life, she simply had to quit her corporate job so she could devote her energy to helping women learn their financial independence and unassumed dominance in our white cis male-run society. 

Her mission? To create the brand HerFirst100K and…

Idk man… seems kinda gimmicky. 

Disclaimer: I am a cis white male with no financial expertise to speak of criticizing a cis white female financial pundit. I have zero doubts that Dunlap could balance a checkbook better than I ever could. I am not here to offer any financial advice. Rather, I am criticizing Dunlap’s approach to fiscal responsibility and her overall authenticity. 

In short: We’re not buying it and neither should you. 

How Did She *Really* Get $100K by 25? 

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At 25, I was working as a barback in a local gay bar and on the cusp of starting my first professional writing job. I had maybe $600 to my name and very poor financial instincts – you could call me a ‘spendthrift.

My peers around the same age were all fairly financially inept or carefree. Sure, we would meet our responsibilities but we sure as hell weren’t saving – and not for lack of trying. We all worked incredibly hard, dirty, thankless jobs for very little money and could be fired on a whim. None of us would have been able to save up to $100K by 25. 

By 25, I had been working steady jobs for 10 years. Even if I didn’t spend a single cent over those 10 years I don’t think the number would have ever reached $100K. Pardon my doubts, but how is a 25-year-old, any 25-year-old, able to save up to $100,000 all by themselves? After some digging, it turns out she did it with a lot of discipline and a lot of luck. 

She graduated college with zero debt, landed a job in digital marketing with a salary of $55K/year, and put a disciplined percentage of her take-home into saving and an investment fund. These are all great, very privileged ways to save $100,000 in three years. 

I’m curious to know how a 22-year-old snagged an investment fund and knew which investments would pay off and how much they earned but… I digress. 

I don’t sneeze at this kind of discipline. Many people would benefit from a financial discipline such as that. I do sneeze a little by using this as a marketing tactic. While she qualifies this by admitting her privilege, she makes her achievement the main marketing point of Her First $100K. 

I did this and so can you!” the sentiment screams. Except most people can’t. And I think Ms. Dunlap knows that. 

Tori Dunlap Is Not Qualified To Give Anyone Financial Advice

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The only thing I trust Tori Dunlap to do is market and brand herself effectively. She’s cool, she’s hip, she can play along with the broader trends, she TikToks with the best of ‘em, and it all feels so desperately empty and deeply phony. 

I think Tori Dunlap has a keen eye for self-promotion that masquerades as “woke financial advice.” This would be fine if it wasn’t potentially f*cking with people’s money. There are people out there with some serious financial issues and concerns. If they trust Tori Dunlap, they could be misled because she doesn’t know what she’s talking about.

I don’t mean she doesn’t know how to assert her value and practice financial discipline. I mean she doesn’t have the financial authority to be profiting off the advice she gives. It’s like getting medical advice from a sickly friend – they’ve got experience but no expertise. 

TikTok Advice Isn’t Real Advice

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If you take a look at Dunlap’s TikTok, it looks pretty much like every other TikToker out there. On her page, the financial advice is few and far between. It appears that TikTok is the space where she promotes her brand, podcast, and book – with a whole lot of cookie-cutter trends you will find on any account. 

When you finally do get to her financial advice, it’s no different than if you were to ask your fiscally savvy friend. For example, “know your worth and advocate for it” is a great bit of advice, it’s one I tell my peers at work – but it’s not expertise. It’s a good ol’ fashioned, “you can do it!” Which is nice, but it’s not practically helpful. What you’re getting from Dunlap are educated tips from someone who is being nice to you. 

When you present yourself as an authority figure you have a responsibility that comes with it. Telling people you are the savior from the patriarchy if you pay for her course doesn’t exactly scream “hero.” 

There’s nothing wrong with providing a service and charging for it. There is, however, something really gross about masquerading as a feminist hero when you’re actually an unqualified financial nobody with no serious credentials to speak of. 

Tori Dunlap is not qualified to be giving financial advice to anyone. She says so on her site: 

LEGAL STUFF: I am not a licensed financial advisor. I offer education, not prescriptive advice. The information that is found here are my opinions and the opinions of other readers/contributors and should be taken as such.” 

Legal stuff.” Cute, so relatable. 

All of Dunlap’s success stories are social media posts, texts, and emails. Hardly a case study. 

Dunlap claims to be “leading a movement of financial feminists,” but a quick Google search on female financial advisors yields no results for Ms. Dunlap. What exactly is she leading? You cannot be a leader when you don’t show up on the first 12 pages of Google. 

Here’s What An Actual Financial Expert Says

We spoke to Danetha Doe, an economist with over 10 years of experience in the financial industry. She has worked as an accountant and a CFO. She also created Money & Mimosas, a financial education resource for ambitious folks. 

In short, Ms. Doe knows her sh*t.

We asked Ms. Doe about how the average person could save up to $100K by the age of 25. 

I don’t think it’s reasonable to believe the average person can save $100K by 25. 

“In order to do that, they would either need to be born into wealth, have zero student loans, work for a startup that goes public or gets acquired, or start a business that is financially successful. 

“All of those scenarios do not apply to the average person.

“The median salary for an individual is under $40,000. Therefore, the average person earns about $40,000. In order to reach $100K in savings on an average salary could take decades in the United States.

Ms. Doe has a lot of excellent financial advice without being patronizing or weaponizing oppression for profit. She has a professional and personal background that makes her an effective authority when it comes to fiscal responsibility.

My two grandmothers [are the financial experts I admire most]. 

“They came to the United States as immigrants and became real estate investors during a time when Black women were systematically shut out of wealth-building opportunities in this country. 

“Their lasting legacy guides my financial decisions.

If you want to learn finance tips from someone who can relate to or understand your experience fully, Danetha Doe is the way to go

Besides, who doesn’t love a mimosa? 

What In The Hell Is ‘Feminist Financial Advice?’

What is it about financial advice that needs to be tailored specifically for women? Let’s take a super casual and lazy glance at successful women, shall we? 

Suze Orman is a trusted financial authority and has been around for a minute

Madonna has built herself an entertainment empire by being unapologetically female

Rihanna became a billionaire through her music and some super-savvy business moves. 

Laverne Cox bulldozed expectations and helped establish a foundation for trans artists. 

Sheryl Sandburg is the most powerful woman in Big Tech – did you see what happened when she resigned from Meta?

There is no shortage of female financial advisors. What kind of niche does Dunlap think she’s tapping into? Dunlap says on her site

I watched female friends get paid less than they were worth. I read stories about women being denied career opportunities because they were seen as ‘less.’ 

“Male colleagues said sexist, negative comments to me at work. I learned that women hold the majority of debt in America and that they invest less of their money than men, yet live for seven years longer. 

“So I knew that I had to fight back.

Sure, Jan. 

Fighting Sexism By Leaning Into Sexism

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I don’t think anybody disagrees (save for a few members of the Republican Party) that women have a tougher go of it than men. To be honest, it’s a bit of a stretch to connect general sexism with financial education. I learned how to budget from my mother, a woman who has had to fight her own battles with sexism and misogyny as the only female partner at her law firm. 

Frankly, I think the assumption that women need help from an unlicensed non-expert in order to learn fiscal responsibility is teetering on sexism. At the very least, it’s grossly condescending and certainly inauthentic. 

If you’re in a position where you need financial advice, you want it from someone who is a serious advisor, not a trending influencer with no qualifications. With inflation at a 40-year high and an underpaid workforce fighting for its value, we cannot afford to take financial advice from someone clearly more interested in self-promotion and branding. 

Dunlap appears to be less focused on offering genuine financial advice and far more focused on hitting woke buzzwords in an effort to patronize marginalized communities for profit. If you want to find a female-focused financial authority, try Ellevest instead. 

Tori Dunlap’s Communications Lead declined to comment.

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Vince McMahon Stepped Down From WWE. Or Did He?

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The news rang out around the world on Friday. 

Vince McMahon, father and face of the modern WWE, is voluntarily stepping down from his CEO position. The news came amid allegations of misconduct, affairs, and hush money.

And then, the strangest thing happened. Moments later, WWE announced that McMahon would make an appearance during Smackdown. Many speculated that McMahon would take the opportunity to admit remorse, address the new path, or prepare a last goodbye for fans.

Instead, he did this.

“It is a privilege, as always, to stand before you here tonight, the WWE Universe. Especially a privilege to stand here in this ring in Minnesota.

I’m here simply to remind you of the four words we just saw in what we call the WWE signature. Those four words are then, now, forever, and the most important word is together.

Welcome to SmackDown!”

“Bizarre spectacle” is a phrase that could appear under the dictionary definition for World Wrestling Entertainment.. But even fans were left scratching their heads by this appearance, with one caught on camera appearing to ask “That’s it?”

What really happened to Vince McMahon

Image credit: CNN

If you didn’t read past headlines about stepping down amid misconduct allegations, you might be stunned that McMahon would appear on TV at all. The truth, as is often the case, is a bit more complicated.

Per The Wall Street Journal, an inquiry began in April concerning a secret payout of $3 million that a WWE paralegal received in January. McMahon allegedly had an affair with the employee. The investigation opened up other, older NDAs relating to sexual misconduct by McMahon and talent relations chair John Laurinaitis.

The misconception at hand comes from WWE’s announcement. While it’s true that McMahon is stepping down from his chief position while the investigation continues, that’s not the whole picture.

McMahon is maintaining creative control of the WWE. For an entertainment company, the creative aspect is a pretty massive slice of the pie. As evidenced by Friday’s appearance—and another appearance on Monday—he’s not stepping down from the public eye either.

Image credit: WWE

McMahon’s WWE character, “Mr. McMahon,” it seems, is not under the same scrutiny as his actor. There are no signs that his exaggerated persona will cease making appearances on SmackDown and at other WWE events.

In a way, it’s a delicate PR chess move. The headline, “Vince McMahon Steps Down Amidst Investigation,” reads like a victory. The sticky truth, that he’s not really exiting at all, will have little impact on the general public.

Wrestling fans, on the other hand, are seeing both sides play out, and it’s leaving some confused. It’s an interesting twist on “kayfabe,” the suspension of disbelief at the root of the WWE community. In reality, Vince has stepped down, but in kayfabe, Mr. McMahon hasn’t gone anywhere.

This bizarre in-and-out response might reflect the inherent flaws in wrestling’s mesh of fantasy and reality. In pursuit of kayfabe, what happens if McMahon is fully ousted? Will an attachment to his fictional persona keep justice from being served? At this point, it’s hard to say.

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