Access and Opportunity with Carla Harris

Morgan Stanley

On the Access and Opportunity podcast, host Carla Harris, a Vice Chairman at Morgan Stanley, asks the question: How can we connect capital with communities that traditionally have been left behind? One way is by talking to the people who are already doing it. Entrepreneurs, investors, developers and activists join Carla, who taps into her 30 years of experience on Wall Street, to explore why investors are unaware of the above-market returns that exist in investing in multicultural- and women-owned businesses, and how to dispel these misconceptions and exploit this market inefficiency. Together, they show what's possible through the people who are making it possible.

Coming Soon: Access & Opportunity with Carla Harris
Trailer 2 min 56 sec

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As of 2021, $1.7 million in student loan debt is collectively owed by 45 million borrowers. On this episode, we hear from entrepreneur Farrukh Siddiqui about his company, Defynance, which works with former students to pay off their loans and replace them with income share agreements. Then, host Carla Harris sits down with Betsy Mayotte, the president and founder of The Institute of Student Loan Advisors. Betsy shares her insights on the student debt crisis and discusses how access to free, neutral and clear student loan advice can empower borrowers to make informed decisions when it comes to financing their education. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Nov 4

25 min 49 sec

On this episode, we delve into the world of NFTs, cryptocurrency, and blockchain technology. We hear from artist Lauren Washington, a senior at Northwestern University, who is using non-fungible tokens, or NFTs, to help connect with a new and thriving community of collectors and artists of color. Then, host Carla Harris sits down with Erikan Obotetukudo, founder of the Audacity Fund and founding member of Crypto for Black Economic Empowerment. Erikan shares her insights on the inequities of traditional financial systems and the potential for cryptocurrency to change the narrative for entrepreneurs of color and others left behind around the world. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Sep 30

29 min 4 sec

On this episode, we learn about alternatives to traditional investments that provides access to new groups of investors. We hear from Gerome Sapp, a former NFL player who conceived of Rares, a platform that makes investment more accessible by allowing his fellow sneakerheads to buy and sell shares in particularly notable and rare sneakers. Host Carla Harris then sits down with Glenn Gonzales, a former Air Force pilot who turned his love for aviation into a business opportunity by founding Jet It, a company that is working to open the private aviation industry to a broader demographic. Jet It makes luxury more affordable by allowing clients to own a fraction of a jet. Come on and join us for the ride. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Aug 27

26 min 31 sec

On this episode, we’re continuing the conversation about the wealth gap through the lens of the Black financial experience. We hear from Eddie Slaughter, a legacy farmer based in Buena Vista, Georgia, who spent thirty plus years fighting the USDA to keep ownership of property that had been in his family for generations. Then, host Carla Harris sits down with Shelley Stewart III, a McKinsey partner who leads the firm’s research on Black economic mobility. We discuss the racial inequities that have kept Black Americans from building wealth and how those affected can prosper in spite of it. Come on and join us for the ride. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Aug 6

27 min 41 sec

On this episode, we’re talking about the importance of reaching back to help others on their business journey and how alternative sources of investment can help women of color take their companies to the next level. We hear from Maya Penn, founder and CEO of Maya’s Ideas, a slow fashion brand she started at just eight years old. She shares what she's learned about raising funds as a young, black, female entrepreneur, and the help she’s received along the way. Then, host Carla Harris sits down with Maya’s mentor, Phyllis Newhouse, to hear about her role as the first Black female CEO of a special purpose acquisition company, or SPAC, alongside fintech founder and venture capitalist Isabelle Freidheim. We talk about how alternative investment can help bolster women of color owned companies. Come on and join us for the ride. Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Jul 16

27 min 31 sec

Rita Soledad Fernandez Paulino and Beatriz Acevedo on how they work to inspire others in the Latinx community to improve their financial literacy. On this episode, we’re tackling the wealth gap from the perspective of two Latina founders who are flipping the script around finance in their communities. We hear from Rita Soledad Fernandez Paulino, the financial literacy influencer behind Wealth Para Todos, an online community that was born of Soledad’s own journey to become debt free. Then, host Carla Harris sits down with media entrepreneur Beatriz Acevedo, a former television host who found her voice in advocating for financial literacy in diverse communities after her own money troubles. She now leads SUMA Wealth, an online platform she co-founded to create financial education content that speaks to Latinx youth. Come on and join us for the ride. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityDisclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Jun 11

30 min 17 sec

Dhani Jones is currently the Chairman and Co-Founder of Qey Capital Partners, a strategic consultancy firm that helps companies find investments. After an eleven year career in the NFL and starting several ventures of his own, Dhani helped launch the Hillman Accelerator, which focuses on investing in tech companies with women and people of color in leadership roles. In this episode, he explains how his career as an NFL linebacker taught him to be intentional about his entrepreneurial ambitions and to build a community to support that shared vision. Come on and join us for the ride. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Apr 9

32 min 43 sec

Edith Dorsen is the founder and Managing Director of the Womens VC Fund, which focuses on investing in companies with diverse leadership. Joining her is Reggie Van Lee, an early believer and advisor to the Fund, as well as the Chief Transformation Officer of the Carlyle Group. Together they work towards fostering equity in the venture capital industry. In this episode, they discuss the inspiration behind the Fund, the challenges they faced early on to persuade skeptics of the value in diversity and the Fund’s plans for the future. Come on and join us for the ride.Check out the HBR article "Institutional Investors Must Help Close the Race and Gender Gaps in Venture Capital" co-authored by Reggie Van Lee and Ilene H. Lang.You can take the Access and Opportunity listener survey.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityDisclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Mar 19

32 min 9 sec

Carla speaks with investor and three-time NBA champion Andre Iguodala about becoming a venture partner at the Catalyst Fund, which focuses on investing in companies founded by African American, Hispanic and women entrepreneurs.Andre Iguodala, best known as a three-time NBA champion, is now a venture partner at the Catalyst Fund. Iguodala has leveraged his success in the league to build a prominent career investing in the technology sector, and his work with the Catalyst Fund focuses on supporting startups with founders from diverse, underfunded backgrounds. In this episode, Iguodala takes us back to how he got started in investing, the importance of surrounding yourself with smart, experienced people and how his work with the Catalyst Fund is helping African American, Hispanic and women entrepreneurs secure funding they need for growth and more innovation.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Feb 20

33 min 57 sec

Carla speaks with investor Chris Lyons, head of the Cultural Leadership Fund at Andreesen Horowitz, a fund that connects Black cultural leaders as Limited Partners to new technology companies, and benefiting organizations working for a greater African Americans presence in tech. Chris Lyons is the head of the Cultural Leadership Fund at Andreessen Horowitz, a D.C.-based fund created to connect Black cultural leaders with tech companies while elevating African American creators in the tech industry. Chris began his career as an audio engineer, but found himself catching the startup bug when he started PictureMenu in 2010. He eventually moved to Silicon Valley through the NewMe accelerator. Since then, he has been all-in on the startup world, eventually taking on the role of investor. In this episode, Chris takes us through his journey in the technology industry and how he continues to advocate for increased African-American and diverse representation in tech. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityDisclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Feb 5

34 min 1 sec

Carla speaks with entrepreneur and former NFL cornerback Shawn Springs, founder and CEO of Windpact, a company focusing on impact protection across industries, including sports, automotive, and the military applications.Shawn Springs is the founder and CEO of technology company Windpact, a startup focused on something near and dear to him: impact protection. Their technology has applications in industries ranging from sports, to automotive, to the military. In this episode, Shawn tells us how events in his own life inspired him to create technology that can change the lives of others, how he leveraged the relationships and lessons from his 13-year NFL career and how his vision for Windpact has changed as the company has grown. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityDisclaimer textThe 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.Morgan Stanley is acting as financial advisor to General Motors Company (“GM”) in connection with the formation of a strategic relationship between Cruise LLC (“Cruise”) and Microsoft Corporation (“Microsoft”), and Microsoft’s investment into Cruise, as announced on January 19, 2021. The transaction is subject to customary closing conditions and regulatory approvals. General Motors has agreed pay fees to Morgan Stanley for its financial services. Please refer to the notes at the end of this report.© 2021 Morgan Stanley & Co. LLC, Members SIPC.

Jan 25

28 min 42 sec

Carla speaks with media entrepreneur Ana Flores, founder and CEO of #WeAllGrow Latina Network, a community that has elevated the voices and stories of Latinas for the past 10 years.Ana Flores is the creator of the first and largest community of Latina digital influencers, and is among the only 1% of Latina owned companies to ever hit the $1 million revenue mark. In this episode, Ana walks us through her upbringing between El Salvador and Houston, her early career in television, and embracing an entrepreneurial spirit that led her to start her first company. Today, she continues to elevate Latina voices through the power of her community, as she celebrates #WeAllGrow Latina Network’s 10-year anniversary. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityDisclaimer textThe 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.© 2021 Morgan Stanley & Co. LLC, Members SIPC.----- Transcript -----Ana Flores: In 2010, really the conversations that we have now of VC funding for women, and especially for Latinas, were just not being had. Because what I created was something so new. People didn't see the value. And I knew that.Carla Harris: On this episode of Access and Opportunity, we welcome Entrepreneur Ana Flores, Founder and CEO of #WeAllGrow Latina Network. Ana is the creator of the first and largest network of Latina digital influencers and is among the 1% of Latina-owned companies to ever hit the $1 million revenue mark. With no outside investment, she continues to elevate Latina voices through the power of her community as she celebrates #WeAllGrow Latina Network’s 10-year anniversary.Carla Harris: In this episode, Ana takes us through her upbringing between El Salvador and Houston, her early career in television, and her embrace of an entrepreneurial spirit that led her to start her first company, SpanglishBaby and then ultimately #WeAllGrow. Come on and join me for the ride!Carla Harris: Ana, thank you so much for being here with me today. It's a pleasure to have you on the show. Let's jump right in. Are you ready?Ana Flores: I'm ready. Carla, thank you so much for the invitation. Let's do this.Carla Harris: All right. First, congratulations on your tremendous success, especially as you come up on your 10th anniversary with #weallgrowlatinanetwork. You have been committed to raising Latina voices and scaled and monetize outstanding brands to advance that cause. So now let's go back to the beginning and talk about your path.Ana Flores: Yes. I was born in Texas. I was born in Houston. My dad still lives there. Both my parents are from El Salvador. And thankfully, they decided to get divorced when I was six years old because that really defined everything and who I am. My mom moved back with myself and my younger sister. Grabbed us, you know, in a pickup van, I think it was, and moved us back to El Salvador — where really I grew up, where I had my formative years. But my formative years weren't only there. They were also in Houston. I grew up between both countries, between two different cultures. I grew up speaking both languages. I don't remember how I learned Spanish or how I learned English. My mom doesn't seem to remember either. I was in an American school in El Salvador, but that really defined this wholehearted 200 percent Latina American person that I am, that it has defined my career as well. And when I was 18, I moved back to Texas. To go to college. I ended up following a boy to Florida. That's the honest truth.Carla Harris: I was about to ask how you got to Florida.Ana Flores: He was going to Embry-Riddle, he was a pilot. And I had a lot of friends, actually. There's a really big community of Latinos in Gainesville and a lot of Salvadorians where there also. So, I ended up just finding there. But the thing is that I knew I wanted to end up working in Univision in Miami in the network. I was studying TV production, and I really didn't have role models. I really didn't have a mentor. I really didn't have anybody that I knew that was a producer. But somehow, I knew that that was my path. And so being in Florida got me closer to that. And I did go to University of Florida, again, always surrounded by this huge community of Latinos. And we have to really understand that Latinidad wasn’t really what it is now and what it has been growing to. Even, you know, this was like mid 90s, early 90s. And I got my first job, my internship at Univision in Miami and internships back then for TV, I would have to sit and watch the scrolling credits, right? And like, Oh, that's executive producer, write a letter right and try to get in the door. And they didn't even have an internship program. But I got myself in there and I just started learning everything that I could. And within a year I graduated and a job opened up. And I started my career there. And it was a very exciting time to be in Univision in like 96, 97. It was a youth revolution back then. Latinidad was among us. This was when Shakira had just moved from Colombia. I was learning English. You know, we were the ones listening to, like bootleg copies of the CDs coming from Colombia, Mexico, whatever. This was when Ricky Iglesias was getting started. Ricky Martin did La Vida Loca in the Grammys, which really changed, that was the first time we felt seen. That was the first time we felt our culture really, really in this main stage. I remember where I was and the moment that I was. So it was a very exciting moment to be in Miami, to be part of the Latino culture and creating content by and for us. But then I fell in love with Mexico City. I used to have to go to work to Mexico a lot. And I think I connected with that deep with that part of it. Obviously, my Latinidad my my Latin roots and that love for the culture that I didn't really have. El Salvador is is not as strong culturally as Mexico is. Not many places are. And and this huge city where I saw that I could do my career, I could work in what I love, and do it from there. So I decided to quit. And that was, I guess, my first journey into entrepreneurship, right. We didn't really also have the word entrepreneurship as much back then. I was a freelancer and and I grabbed all the executive producers from Univision, and I told them, “I will be a freelance producer in Mexico.” And I cashed in my 401K. Not that I recommend people do that when they're 28. But I cashed in my 401K and moved and I, you know, it was actually a really good move in the sense of I was making money as a freelancer, which was much more than the $20,000 I was making a year working as an assistant producer. So that really led me on on a path. But then I ended up years later ended up moving to MTV, Latin America. And also continued working with this more Pan-American Latino — because what Univision is U.S. Hispanics, and learning how to talk to U.S. Hispanics and program and create content for U.S. Hispanics is different from creating content for Pan Latin America, where you are broadcasting to everybody from Argentina to the Caribbean through Central America, South America, which can be very different. Like one word can make a huge difference in Spanish or what it means in Mexico, what it means in Argentina. So I learned how to speak to a more global community of Latinos, right? — which, in Latin America we each identify as the country we're from, not as Latinos. And then that ended up moving to L.A. to…I was the the the team that was in charge of opening up the offices here for Mun2, which was a project of NBC and Universal to create content by and for Latino youth. So back over here doing that.Carla Harris: And what year was this Ana?Ana Flores: That was 2005, 2006 that we launched it.Carla Harris: So, 15 years ago. So now these folks are in their 30s or late 20s.Ana Flores: Yes.Carla Harris: And you were understanding how to speak to them and how to create content that they would consume.Ana Flores: Exactly. So, and it's tricky, right? Because I think music is a very universal language, right. But also, how do we speak to Latino youth, which is constantly changing, which navigate into two worlds. They can navigate watching MTV as they can navigate watching Univision with their parents or their grandparents, to wanting to watch sports and then also wanting to connect to their soccer teams locally, but also keep up to date. And that they enjoy everything from rancheras to, again, pop like Shakira, et cetera, and trying to bring us together via that content, via that culture that really speaks to us.Carla Harris: Had the Eureka moment happen for corporate yet that all things Latino were going to be big? Had it happened yet or had it even happened in your own consciousness yet?Ana Flores: That's a really good question. It had happened, but the investment wasn't there yet. And it's still slowly trickling in. Right? It's is very much like, Oh, yeah. No, we get it. They're big in numbers. Oh, yeah. We get it. They're growing. Oh yeah. 2010 we see the numbers and the census we need to start reallocating budgets, but we're not ready to allocate the budgets at the real importance that it needs to have to reflect the audience that they're speaking to and the social and economic and cultural power that we have.Carla Harris: When did you get the ‘Aha!’ moment that this could be more than a niche market? Had you yet had the awakening or that didn't hit you until you started your first baby, SpanglishBaby?Ana Flores: It started with SpanglishBaby.Carla Harris: Ok let's talk about that.Ana Flores: So I actually quit my job because I quit all my jobs because I've always been an entrepreneur at a heart. I did the thing that stereotypes. Moms, women. Right. That you're gonna quit your job once you have a kid. And I actually did do that because I really wanted to be a full-time mom for a while. What I didn't know was that my daughter was born in 2007, so the Recession hit the next year. And since we had both my my husband from is from Mexico. So, all of our families, we were just here alone just with friends. So, it really was hard once I had quit my job and within eight months a recession hit, meaning that he lost his job. It hit really particularly hard in L.A. because there was also a writers' strike. So, at the same time, in 2008, the industry shut down. I then also fell into the realization of how hard or almost impossible it is to want to have a job, even if I was willing to like, get, you know, minimum wage. But that wouldn't pay for daycare. So we were stuck. And what I started discovering then was the world of blogs and mom blogs. That's where I was finding out how to be a mom. I was consuming this content, but also finding a community of women that were like me, that were ambitious, that were driven, that knew how to create content, that knew how to build community. And we're doing it through this fabulous medium that I didn't need money for that. I just needed nap times, my daughter's nap times to be able to get it done at home. So I decided to launch Spanglish Baby because I wasn't seeing content for women like me and my partner who Roxana, whom I launched it with. She was an Emmy-winning producer, was going through the same exact things that I was going through, and we both decided to launch Spanglish Baby as a resource for parents raising bilingual and bi-cultural kids. I needed that. I wasn't seeing that in that community of bloggers. And then just in general, right, if I would Google, if I would search for it. So, I decided that I would launch it, that we would create it. And it hit a nerve right away. It was content that was needed. And we were speaking directly from my mom to other moms. We were bringing in experts, et cetera. But to your question, once I, I started getting deep in that, I first of all, I didn't realize how revolutionary it would be to talk about kids learning a second language, about kids learning Spanish. For me, it was, it's like, Isn’t that what we want? I mean, we have the brain capacity as soon as we're born, even in uterus, to learn this language. Yet we're not teaching it until high school. So that became just the awakening of, OK. Why are people giving us these negative comments about us wanting our children to speak Spanish, about us wanting to keep the culture alive, about us wanting them to really couldn't have a connection with their root and their heritage. And then I started getting into the research of it. And then in 2010, the census came out. And that last census really set the mark that the Hispanic Latino community was growing and was the fastest growing minority. Though I don't like using that word, but that's the term still used in marketing, and that resources would be allocated. So, the more I started seeing and realized that one in four children being born at that time, 10 years ago, and now in some places like California, it's one in three are Latinos. I was like, that is our audience. And who is speaking to these moms and who is understanding the resources that these moms need? And if I was looking at Disney, and I had many conversations with many people in Disney about: How can we make accessible the content in Spanish? How can we make more content that speaks to our children? Where are the Latina Disney princesses? How can it be that such a huge, you know, vast, rich indigenous culture and beautiful culture cannot be represented by a beautiful princess? Can you imagine a beautiful Inca or Mayan princess? So just really realizing that and seeing that, OK, there's a lot of work to be done here. And the beauty of the blogging space of the digital media space was that it democratized our voices, was that it allowed a mom in the middle of the recession almost having to go into food stamps to be able to build something. To build something that spoke to me, and that created content and visibility for a community that was completely not only ignored, but being erased.Carla Harris: So talk to me about how you were defining success? I'm sure when you started it was like, well if anybody responds that's got to be a success. But as you started realizing so you had a confluence of events. You had a 2010 census that said, you know, this is a big and growing community, the fastest growing community. There is real disposable income there. Your own realization that nobody else was out here having this conversation. You couldn't find any. And you clearly knew there was a big audience. So, somebody needed to provide the content and the information. So, again, never having started a business, you kind of having a little bit of an entrepreneurial itch. How did you define success?Ana Flores: Listen. It was really hard to define success when nobody was doing that. It was hard when I would talk to the people around me, from family members to people I admired and trusted. And I would say, you know, I'm watching this blog, but I have a really big vision behind it. And it was like, "Ay que cute!" How cute, right? It was like, oh, she's a mommy blogger. That's really cute. It's like no there's so much more to it than this. And we're talking again, 2009, when I launched the blog, 2010 when we had been blogging for a year and a half and really seeing success because the community was responding. That was success to us. If I would receive a comment from somebody saying, you know what, there has been so many myths about raising bilingual children and how we're going to damage them because they're not going to be able to speak any language. You're going to confuse them. And they were like thanks to the information and the resources that you're providing, I understand that I can now raise my child bilingual and I know how to do it now. That was success to us. And it was one mom at a time, one day at a time, one child at a time. And then it transitioned into: we need to monetize. So we had been blogging for about a year. And we had been really building a community of other Latina mom bloggers that were coming. Twitter really helped. Twitter was one where we were put, you know, we would connect, we would find each other. There wasn't Facebook groups. There wasn't Instagram. It was just really that and and email groups and comments on blogs. And that's where we were starting to meet each other. But it was the same thing. Nobody, none of us were monetizing yet at that moment. What we now know as influencer marketing was at its infancy and it was mostly mom bloggers, a handful of them, that were creating these networks where they would work with the brands to try to help them understand this fascinating world of blogging and digital media and in how they could speak to the…reach moms through mom bloggers and the authentic content that they were creating. And they would connect the bloggers with brands. So actually, it was going to conferences like BlogHer and different kinds of conferences that I was able to go to that I started meeting a lot of these women and I did become the token Latina and I understood it. And I knew exactly what I was gonna do with that, because that would allow me to open doors and to learn and to bring opportunities. And they were more than willing to teach me and to push me forward to be why aren't you doing what we are doing. Right? Because they didn't know how to speak to the Latina mom, or they didn't know how to talk to these brands that were not the multicultural agencies to help them understand the importance of reaching this audience. But I could. So, I decided to launch what is now #WeAllGrow Latina. Back then, in 2010, again with a laptop, Google Drive and a Wordpress site. And a logo that a friend did…and I launched Latina Bloggers Connect. And and I basically said, if you want to join this network and I will do my work to work with the brands to bring opportunities to all of us, because unless we start monetizing, we weren't going to be able to have our story shared.Carla Harris: And you learned how to monetize from going to these conferences and talking to these other moms, or did you just watch what was happening and look at all the different ways that people were monetizing? And I'd love you to speak to that, because an entrepreneur that's out there that has a community that they can talk to that can write, I want them to understand the playbook of how you need to think about monetizing, if this is your journey.Ana Flores: So I definitely learned by going to the conferences, and that's why eventually I ended up creating my own conference because I knew the benefit that it had bringing all these groups together in one place. So going to those conferences and speaking and meeting the brand representatives, meeting the agencies, et cetera, and then learning how to make the deals. Again, influencer marketing, the term didn't exist. So we were all blogger networks. Budgets were all over the place. We were all trying to figure out. And I did make the mistake, because you need to understand and I know you know this, that about 10 percent of overall marketing dollars are allocated to multicultural marketing. That means multicultural marketing is Hispanic, is African-American, is LGBTQ, it's Asian-American, Native American. I mean, it's all lumped into this group of multicultural. So, and if 10 percent is going to us, it means you start, you know, slicing the pie and what is there for Latinas is less than one percent. So even though I was meeting all these brands, I needed to connect with, it was always the multicultural teams. If it wasn't the multicultural teams, we really probably wouldn't get the door open. So that meant that even though the bloggers that we were working with and the work that we were doing had the same value of the dollar, we were only getting pennies to the dollar. So, as it was, my budgets were much smaller, but I had to learn that along the way. So I could learn from them the techniques and tactics and we were all always sharing with each other what worked and what type of campaigns worked. But the budgets themselves were kind of like the Wild, Wild West.Carla Harris: So talk to me about the data. Did you have to collect a whole bunch of data to try to convince people that this was indeed a big market? And, you know, look at how much money Latina mom’s spend. And here are the things that they spend their money on. So talk to me a little bit about that.Ana Flores: Oh, absolutely. There was a lot of convincing. All across the board everywhere. And there was a lot of curiosity because blogging itself was so new and was in its infancies and PR world’s and media and advertising were trying to figure out where it fit in and how to invest in it, right? And what to do. So it was our job to convince them to invest in Latinas and not only Latina moms, because by then there was much more lifestyle bloggers, millennials, et cetera. So basically there wasn't a lot of data and we weren't a research firm. And so it wasn't even whatever we could bring back, which was the data that we had from the audiences that our bloggers were reaching wasn't really that meaningful to them. It had to come from a more authoritative source. And there wasn't a lot, like I said, there was the census. The Pew Research had been doing some research on and some fascinating studies on Latinos. But what really changed the game for us, specifically for Latinas, was the Nielsen Latina report, which came out around 2016, led by Monica Gil, who's now V.P. in Telemundo. And she really, really, really brought forward the force of the Latina consuming power. But in general, we already know that the Hispanic purchasing power is over $1.7 trillion. Actually, if we were a nation, we would be number seven in the world based on our GDP power, that's right behind India. So we definitely have the financial force. But really, we need the data to really showcase how Latinas are overarching and over indexing in consumers, especially when it comes to beauty products, to electronics, moviegoers. Right? We buy the tickets at the box office. And all of that really helped to start to inform that narrative and to understand that this was a valuable proposition, to actually reach the Latino community via people, via these voices that they already looked up to and trusted.Carla Harris: Yeah. I wanted to bring up that point because especially entrepreneurs that are serving an ethnic demographic for those, as I said, that don't understand that market and haven't played in that market before. They don't realize A.) how big it is and B.) how fast it's growing. So part of what I'm trying to put out there is the playbook that you might, in fact, have to have collaborations and partnerships with people who are doing that research, who can bring it to the market and shed a spotlight on it so that you can have these opportunities, if you will, to serve that market. And it sounds like to me you connected with the right sources that were producing the data. You were able to talk and speak to some of it, but you also connected and collaborated with those who could help bring that that data to the marketplace.Ana Flores: We were practically just as soon as we would see that data, we would grab it and figure out how to how to be able to put that in our deck and be able to switch the conversation. But a lot of it had to come from really, you know, the impact that our own campaigns were having and really start to build upon that and the data that was meaningful. And the thing is that it's very difficult in social media as well, because we know that the impact that something like a conference can create and these in real life connections can have to continue building our economic and social and cultural power is really hard to translate into hardcore data. Right? It's that qualitative data. So, it’s, we definitely have now in our 10th year, just is growing a lot more and figuring out how we can also become that place to be able to serve those different partners and understanding really where Latinos are going, what we're thinking, where we put our dollars, because that continues to shift. And the Latina 2.0 report and many others since then have now really showcased that. And not only do we have the consumer power, but we're really conscious and we're becoming much more and where we invest our dollars and we want to invest our dollars on those brands and organizations that are actually speaking to us, that we really have taken the credo and the mantra of representation matters very seriously, especially the last five years when the erasure has become so clear and we want to invest in those that are seeing us and those that are investing in us. It became so important because we created a safe space for us to come together. But it was also that space for the brands to authentically show up in a place that mattered to us.Carla Harris: So let let's talk about five years. You were now making a million dollars a year and there are very few women owned businesses that and even that short period of time are producing that kind of revenue. Now, help me understand, you did all of that without any outside investment, correct?Ana Flores: Zero.Carla Harris: Wow. Okay, so that was just really being of the mind to reinvest whatever profits you were making back into the business to drive it to growth?Ana Flores: Exactly. Yes. It was all brand campaigns. Absolutely brand campaigns. Again, we were able, since we were the first ones in the space, in the Latino space. We quickly had competition within a year. And it came from men. And trying to reach this audience who saw the potential — right? — saw the potential enough not to want to invest, but to want to create it themselves. And that was good. Competition was really healthy, and it was great. But it definitely came from the brand partnerships and reinvesting into the company. See, the thing is that we didn't sell a product. We sold a service. So, I didn't have collateral. So even if I wanted to go to the banks and to get a line of credit, I was denied completely because I didn't have any collateral.Carla Harris: Let's talk about what the brand campaigns look like. The economics around that. So, can you describe for someone who doesn't understand how the influencer market works, what you were doing with those brands and how the conversation worked?Ana Flores: So those brand campaigns and specifically what became influencer marketing is actually very transactional. So basically, it's knowing what their budget is, what their goals are and profile of the influencer they want. And then we would be able to go back with that budget and the type of deliverables. So a blog post isn't the same as an Instagram post. An Instagram post isn't the same as a tweet. They all have a different value. So we would actually assign a dollar value to each post. And it also depends on the level of reach and engagement. And those metrics continue to shift. But usually, it will be impressions that they're looking for per influencer that we're working on. So, it's either a hashtag impression, if it's a hashtag heavy campaign, or it is per deliverable per influencer and then the formulas to add up, and then our profit margins, we would try to have them around 50 percent. So it's 50/40 percent profit margin for each campaign.Carla Harris: Wow. Outstanding. So we went from television producer to blogger to someone who had a business blog into monetizing that, who now has a business full of connectors that can influence very, very large markets. You've done over a million dollars. Now, do you need outside capital? Or have you ever raised outside capital for the business?Ana Flores:  You know. So again, in 2010, really the conversations that we have now of VC funding for women and especially for Latinas, were just not being had. Because what I created was something so new. And in a market that was still considered in a way like an emerging market or, again, multicultural market. People didn't see the value. And I knew that. So I had to make a decision. Am I going to spend my very precious time as a mom and as an entrepreneur — I had a team of 12 by then — creating and meeting the needs of my community and of my clients? Or am I going to spend my time trying to get. I was already about 40 years old trying to get into accelerators and having to spend six months there? Or am I going to just keep doing what we're doing so well and count on that money and count on that growth. And I decided the latter, that we would keep going. I have had several offers for acquisitions, again, from men, who saw the impact of what we were doing but needed to check it off as their Latina initiative. And we became so community driven. We became so mission driven. And once we truly understood the impact of what we were doing at-large for the community and our overall visibility and representation, that I wasn't willing to give that up.Carla Harris: So you pivoted, you evolved from connections and influencing to the conference, as you said earlier, because you saw the real value in bringing everybody together and, you know, being able to make these connections. Right? So that's what the business looks like today, the influencing and the event driven businesses. Is that right? With the real focus around Latinos and the size of that market.Ana Flores: Yes, completely. So, it is creating safe spaces for us to connect in person and in real life and online. And we've always been able to manage both. And we still do the campaigns and the influencer. But as part, not as one-off campaigns, and not the 20 that we used to do per month, because we went to have more integrated marketing campaigns where we can really move the needle for the community and do it with the help of the brands. Right? And that was a slow move. So I knew, and this is this is interesting. So, part of the story was that when we launched the conference in 2015, I did it to meet a need not only because I knew that that's where I had learned, but also because every time I would go to to these conferences, I was still just a handful of Latinas there. And I was like, I am learning so much here. I need more women to get the benefit. But then more and more Latinas would ask me, like, “When are you going to do the conference?” And then I would get brands around Q3, Q4 were there. You know, our clients were they were working on their budgets for the next year, asked me: “Are you going to do a conference? Should we allocate something there?” And I was like, OK. Obviously there's a need and obviously I have the resources to make it happen. By then, we had built a solid reputation in the industry. And I launched the conference. I announced it. Neutrogena was our title sponsor. And I actually I talked to them, to the agency. I explained what I wanted to do. And they were like, well, if you build, it will be there, but you have to build it. So they didn't sign on the dotted line. They just told me, “We'll stand by you.” But I had to announce it. I had to make it happen. I had to show because when you're creating a conference for the first time, you don't have proof, right? You don't have a product that you're selling a product that I can go pitch and Shark Tank somewhere. It's an idea. It's a concept. It's a deck. So you have to have credibility and you have to have already earned that confidence within the brands who are going to be the ones monetizing that and the community who's going to buy tickets. So I announced it. I set a date. I didn't even have a venue. Don't do this. That's how I did it. But that's not how I recommend people do it. And within a week, we had sold over 100 tickets. Neutrogena signed on the dotted line and we had the first conference for 250 people sold out within the next ten months. And then by the next year, it grew to five hundred. We changed venue, location, and it just continued growing where we would sell out within hours, ten months in advance. So the community was helping us monetize as well because it was that, them buying the tickets, et cetera, that would help us say, like, OK, we're ready to, you know, dedicate the next 10 months to build this conference. We wouldn't even announce speakers. The conference would just sell on its own because of the reputation it already had and the magnitude of the ripple effects that would come out of what people would learn and who they would connect with while there.Carla Harris: Right, and your validation that people needed a place to meet, to be able to ideate, to be able to learn from each other. So, it had almost nothing to do with the speakers and everything to do with the fact that you created the space and you were smart enough to also know what content was going to be of value, which added value on top.Ana Flores: Well, listen, it was crazy how people didn't expect it. People already had, you know, the stereotypes within the Hispanic community. They knew that if it was a Latina conference, the bar was set really low. So my job was to set the bar really freaking high and to create something. And that's something that's a mode that our communities function in, not only at work, but as entrepreneurs and everything. We're always expected to underperform. Not only are we at the bottom of the totem pole when it comes to equal pay, but those women that are making 46 cents to the dollar that a white, non-Latino man makes, are expected to over perform. Us as, you know, creating a conference, we were expected to deliver something really big. And we did with half the dollars then, you know, a community or a company or a conference similar to ours that would be in the general market would be able to do with five times the funds.Carla Harris: So what's next? Ana, we are post COVID. So assume that we're sitting in August of 2021 now and you're thinking about what the future looks like. What’s next for #WeAllGrow Latina network?Ana Flores: You know, it's the community. We want to be the go to community for Latinas to really feel seen, to really feel heard. But from there be able to grow our power and our generational wealth. We really want to focus on our finances because there is this big disconnect between our consumer power, our GDP, our purchasing power and where it's going back, right? We're not building wealth yet. And we're not keeping that wealth within our communities. And we're not securing the generational wealth. So all the work that we're doing right now and that we're putting forward cannot be lost with this generation. We need to create a better future for our children and their children, and their children, because we know that that is how wealth is built in this country. So that is what we see. We see a place where we can continue building our confidence. We never say that we want to empower Latinas because we have the power. We just want to help you unleash it, and see it, and feel the confidence to use it and to put it forward. And we really want to be that place where you will learn not only from finances but doing it from that lifestyle place. And hopefully we'll be back in person really soon. But we want this to become a global movement.Carla Harris: So there’s two pieces: you want to help them figure out how to get more money. So how to make sure that you get your worth. That's one piece. The other piece is, how to invest it and grow it.Carla Harris: All right. So, we have a tradition on Access and Opportunity, Ana, where we have a lightning round of questions, where we hopefully will have our listeners have an opportunity to know you, Ana, the woman. So, are you ready? I'm going to give you some questions and then you give me the first thing that comes to your mind.Ana Flores: Let's do it.Carla Harris: Twitter or Instagram?Ana Flores: Instagram.Carla Harris: What's your personal mantra?Ana Flores: I can do this.Carla Harris: What's your favorite Salvadorian dish?Ana Flores: Ay pupusas of course!Carla Harris: City or countryside.Ana Flores: Countryside these days.Carla Harris: Winter or summer?Ana Flores: Summer.Carla Harris: Coffee or tea?Ana Flores: Coffee in the morning. Tea in the afternoon.Carla Harris: In the office building. Or working from home?Ana Flores: Working from home.Carla Harris: If you had a talk show, who would be your first guest?Ana Flores:  My daughter.Carla Harris: One word that you want to describe your legacy.Ana Flores: Love.Carla Harris: Oh wow. Ana Flores, thank you so much. It has been my pleasure, privilege..Ana Flores: Oh no thank you so much for having me. I'm really excited and I've been loving your podcast.Carla Harris: Thank you. Well, listen. On a different note, as you continue to evolve and you want the partnerships to help educate the women and to help them understand how to grow wealth, then, you know, consider us as you think about partners.Ana Flores: I will. Thank you. Thank you so much. Very important to have allies.Carla Harris: Thank you.Carla Harris: Thank you all for joining us on this episode of Access & Opportunity. Be sure to stay tuned this season as we speak to more influencers in the sports, media and entertainment fields who've committed to reframing the narrative for women and people of color. You won’t want to miss it.  What did you learn today from Ana Flores? Send us your thoughts at carlapod@morganstanley.com. We would love to hear from you. Subscribe to Access & Opportunity on Apple Podcasts or wherever you listen. Thanks for coming along!

Jan 8

34 min 46 sec

Carla speaks with media entrepreneur Morgan DeBaun, Founder and CEO of Blavity, a voice for Black millennials in the media and marketing landscape, about staying true to your vision as you grow and evolve.Morgan DeBaun is one of the first African-American women to raise over $1 million in venture funding. Now she has raised more than $9 million for her company, Blavity, and its brands reach over 80 million monthly users. In this episode, Morgan takes us through her roots in St. Louis, the struggles of bootstrapping your own business, and what she’s learned about fundraising along the way. All this began when, at age 24, Morgan noticed that mainstream media was lacking a voice for Black millennials. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity  Disclaimer textThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Dec 2020

35 min 12 sec

From immigrant kid, with a love of movies, to media entrepreneur, with a deep connection to the hip-hop community, Sanjay Sharma's professional journey has taken him across the American legal, tech and media landscapes. Carla welcomes him, on this first episode of a new season of Access & Opportunity focused on innovators working for equity in the media and entertainment industries. Now the Founder and CEO of Marginal Mediaworks, a media brand that’s all about genre storytelling from marginalized voices, Sharma’s perspectives are both familiar and radical. A serial entrepreneur, he has launched seminal ventures, including Machinima and ALL DEF Media, tuned in to underserved communities far from mainstream representation. In this episode, Sharma takes us through his eclectic journey from lawyer to screenwriter to CEO, and how he continues to advocate for the unheard stories in the margins. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity  Disclaimer textThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC

Dec 2020

34 min 18 sec

Welcome back for Season 7 of Access & Opportunity! We're staying focused on the challenges faced by women and multicultural-led businesses in accessing capital, and the overlooked opportunities they represent for investors. This season we’re speaking to influencers in the sports, media and entertainment fields who've committed to reframing the narrative for women and people of color. Stay tuned for Episode 1, launching December 2nd!

Nov 2020

1 min 19 sec

On this episode of Access & Opportunity, we welcome investor Soraya Darabi. A former serial entrepreneur, Soraya is a founder and General Partner at Trail Mix Ventures, an early-stage investment firm focused on the future of living well. We are also joined by Sarah Sheehan, the co-founder and COO of Bravely, a startup that remotely connects employees with certified coaches. In 2017, Soraya and Trail Mix Ventures invested in Bravely’s seed round and the two organizations have been close partners ever since. Throughout this episode, Soraya and Sarah share how they respectively became an investor and an entrepreneur, what Soraya saw in Sarah and her company, the key steps they took during, and after “the deal,” and how they’re each adapting to the ever-changing business landscape brought by Covid-19.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity Disclaimer textThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Nov 2020

43 min 26 sec

Guest host Ian Folau turns the tables on Carla and her co-head in the Multicultural Innovation Lab, Alice Vilma, asking why they do the work they do to level the funding landscape for women and multicultural entrepreneurs. Ian brings his perspective as a founder, a graduate of the Multicultural Innovation Lab, and now as a VC, to bear on the work of the lab and the paths that brought Carla and Alice to the work they now do in support of emerging tech-enabled companies.

Oct 2020

34 min 16 sec

Carla speaks with VC Miriam Rivera, founder of Ulu Ventures, and Ritu Narayan, co-founder of Zūm, a new kind of ride service for kids aimed at families and schools. They discuss their journeys and how a consistent model of decision-making can lead to better choices, help level the playing field, and increase entrepreneurial and business diversity.

Sep 2020

32 min 42 sec

On this episode of Access and Opportunity, we welcome investor Mallun Yen, partner and founder of Operator Collective. Operator Collective is a disruptive new approach to venture capital which brings senior operating leaders from diverse backgrounds together with founders of startup companies. We also hear from one of the leaders of those startup companies, Kieran Snyder, the co-founder and CEO of Textio, an augmenting writing platform that analyzes text to find the patterns that cause some to succeed, where others fail. In this episode, Mallun and Kieran take us on a journey where we explore what it takes to build a diverse and well-rounded portfolio company, what leadership looks like during a time of crisis and why having the right tone when sharing messaging means everything. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Sep 2020

37 min 51 sec

On this episode of Access and Opportunity we welcome investor Natalia Oberti Noguera, founder and CEO of Pipeline Angels. Pipeline is changing the face of angel investing by lowering the barriers to entry and bringing more non-traditional investors into the angel ecosystem, providing capital for more women, non-binary and femme entrepreneurs. Also joining us is the co-founder and CEO of the maternal health startup Mahmee, Melissa Hanna. As the daughter of an obstetrics nurse, Melissa grew up knowing the challenges that women, and specifically women of color, face when confronting the healthcare system. Pipeline Angels first invested in Mahmee in 2015—serving as its friends & family round—and additional members participated in Mahmee's 2019 follow-on round.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Aug 2020

36 min 15 sec

On this episode of Access and Opportunity, we welcome investor Jesse Draper, founding partner of Halogen Ventures. With Halogen Ventures, Jesse has committed to investing in early stage consumer technology startups that have a woman as a member of the founding team. We also hear from one of those founders, Esther Crawford, the co-founder and CEO of Squad, an online platform that helps connect people all over the world through screen-sharing. Jesse and Esther take us on a journey from their very first encounter, to their individual commitments going into the deal, and to their respective shifts in priorities during COVID-19. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Jul 2020

34 min 58 sec

Welcome to Access and Opportunity, Season 6. This season, we are looking at the relationships behind the deal. We'll be talking to women venture capitalists who are working to change the funding landscape and a founder of one of their portfolio companies. In this episode, we welcome venture capitalist Kesha Cash, who has spent nearly a decade focused on impact investing. Currently, Kesha serves as the Founder and General Partner of Impact America Fund, the largest black-women-led impact VC firm in the U.S., and a fund that invests with a racial equity lens. We also welcome Diishan Imira, Founder and CEO of Mayvenn, the technology platform that not only provides high-quality beauty products, but that also empowers beauty professionals to grow their business, while providing their clients with exceptional customer support.Kesha and Impact America Fund first invested in Mayvenn back in 2014. Since then, Mayvenn has become the fund's largest investment. Kesha and Diishan share with us the importance of investing in the black small-business community, the ways in which they've managed to build a healthy relationship as entrepreneur and investor, and the strategic decisions that guided them through the unexpected impacts of the COVID-19 pandemic. Come on and join us for the ride.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunity 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Jul 2020

32 min 18 sec

Welcome back for Season 6 of Access & Opportunity! We're staying focused on the challenges faced by women and multicultural-led businesses in accessing capital, and the overlooked opportunities they represent for investors. But this season Carla is looking at the issue through the lens of six successful relationships.  In each episode we'll talk, together, with a woman investor who is working to change the funding landscape and the leader of one of her portfolio companies. These relationships will offer new perspectives (and playbook points!) on how to make the entire investment ecosystem more inclusive. Stay tuned for Episode 1.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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Jul 2020

1 min 39 sec

Today communities of color are in pain as they are forced to navigate the confluence of the Covid-19 pandemic and the continued murder of and violence against black lives. Join us for a special episode of Access & Opportunity, as we continue to try to bridge the gap between the social and economic injustices that oppress communities of color. In this new episode we revisit conversations with black entrepreneurs and investors who have shared their playbook points for how to overcome barriers to success that exist for entrepreneurs because of the color of their skin. Through listening to and elevating their stories we can help identify the economic manifestations of racism, learn from each other and work towards a more equitable society.

Jun 2020

27 min 21 sec

Welcome back to Access & Opportunity. In these unprecedented times of COVID-19, we're checking in with some of our favorite guests from previous seasons to understand how they're adjusting their schedules, their businesses, their outlook, and their investing styles. In this episode, Carla welcomes back Hope Knight, President and CEO of the Greater Jamaica Development Corporation and a member of the New York City Planning Commission.Ms. Knight was the inaugural guest on Access & Opportunity almost two years ago. We wanted to see how, despite the current circumstances, she continues to nurture opportunities for businesses in the Jamaica neighborhood of Queens, in New York City. We discuss how she's supporting her partner businesses and tenants, how she's managing the challenges of remote leadership, and her hopes for a relatively rapid recovery.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

May 2020

21 min 40 sec

Welcome back to Access & Opportunity. In these unprecedented times of COVID-19, we're checking in with some of our favorite guests from previous seasons to understand how they're adjusting their schedules, their businesses, their outlook, and their investing styles. In this episode, Carla welcomes back Dr. Freda Kapor Klein, Founding Partner at Kapor Capital and founder and co-chair of the Kapor Center for Social Impact.Dr. Kapor Klein appeared in season one and in season three, so we wanted to see how, despite the current circumstances, she continues to create opportunities for underserved communities and to close the gap in the venture funding landscape. We discuss how she's thinking about new investments, how she sees the challenges and the silver linings that many startup businesses are facing in the time of COVID-19, and specifically, how it's affecting early-stage companies, the investing community, and the VC community.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

May 2020

20 min 49 sec

Carla Harris checks in with Jewel Burks Solomon, head of Google for Startups in the U.S. and co-founder of Partpic, which she sold to Amazon in 2016. Jewel discusses the importance of self-care and how she's advising companies to think creatively in this time of COVID-19.

May 2020

29 min 39 sec

Carla Harris checks in with James Rhee, CEO of the clothing retailer Ashley Stewart and founder of the FirePine Group, on how he’s managing—for himself, his employees, his customers, and his portfolio companies—in the time of Covid-19.

Apr 2020

26 min 14 sec

This season we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on the exit. In the Season 4 finale we hear from someone who has experienced a wide variety of exit scenarios, Henrique Dubugras. Henrique is the co-CEO of Brex - a fintech startup valued at over two billion dollars. But Henrique’s entrepreneurial journey started while programming video games when he was a preteen living in Brazil. And while Henrique is still in his early 20s, he’s already started five companies and has so much to share with us. In this episode we make sure to dive into his decision making processes at several key moments of his entrepreneurial experience. Thank you all for joining us for another exciting season of Access and Opportunity. While we work on Season 5, check out more of our content on the Morgan Stanley Inclusive Innovation and Opportunity page. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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.© 2019 Morgan Stanley & Co. LLC, Members SIPC

Dec 2019

27 min 31 sec

Host Carla Harris talks with Jewel Burks Solomon, the founder of Partpic, a startup designed to streamline the purchase of maintenance and repair parts using computer vision. In 2016 Jewel sold her company to Amazon for an undisclosed amount. But as you’ll hear, Jewel’s exit experience was far from a walk in the park. Jewel tells us why she left Silicon Valley to start a company in Atlanta, how she navigated the investing landscape, and what hindsight has taught her. Jewel’s candid explanation of the troubles she faced provide a valuable insight into the less-discussed downsides of the entrepreneur’s journey.You won’t want to miss this one. Come on and join us for the ride.Disclaimer textThe 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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Dec 2019

33 min 15 sec

This season, we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on their exits. In this episode we sit down with Bob Johnson, the groundbreaking entrepreneur and founder of Black Entertainment Television (BET). In the late 1970s, Bob Johnson came up with what some might say was a radical idea - programming by and for African Americans. And so BET was born. Twenty years later, Bob Johnson sold the company to Viacom for almost four billion dollars, making him one of the wealthiest African Americans in the country.We sit down for a candid conversation with Bob about how he built the company, the importance of finding investors who shared his values, and why he finally sold BET. Along the way, Bob offers some important playbook points regarding team-building and self-confidence. Finally, Bob leaves us with an analysis of the current investment landscape and provides suggestions for how underrepresented entrepreneurs can overcome obstacles that stand between them and their pursuit of capital.Come on and join us for the ride.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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Nov 2019

27 min 34 sec

This season on Access & Opportunity, we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on their exits. In this episode, we’re joined by Juanita Lott, the founder of the enterprise security firm Bridgestream, Inc.          Juanita isn’t your typical tech entrepreneur. She didn’t study computer science, she isn’t an engineer, but that doesn’t mean she couldn’t start, scale and sell a company for millions of dollars. Through hard work, late nights and a keen sense of business, Juanita navigated her way through the post-dot com era before selling Bridgestream to Oracle for a reported $30 million.Today, Juanita tells shares with us how founders can strategically position themselves to retain control of their companies and outlines a few of the unique challenges people of color face when considering an exit. Finally, Juanita offers advice and encouragement to other non-traditional entrepreneurs who are considering starting their own company. 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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Nov 2019

27 min 56 sec

This season on the Access & Opportunity podcast we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on the exit. This episode we are excited to talk to Dug Song, the cofounder of Duo Security.While working for several other companies in the oughts, Dug noticed that the existing computer security firms were focusing on profits over customers. He set out to fix that with Duo Security. In seven years, the Michigan-based company grew to over 700 employees by staying true to their mission of building easy, effective, trustworthy, and enduring products before being acquired by Cisco for a reported $2.35 billion.In this episode we talk with Dug about how he ended up working in tech security, the importance of finding leaders to learn from, and why he eventually sold his company. Along the way we’ll hear about his passion for skateboarding, discover the one question he asks every new hire, and discuss how entrepreneurs can operate from a position of power when taking on investors.Come and join us for the ride. 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. © 2019 Morgan Stanley & Co. LLC, Members SIPC.

Oct 2019

31 min 46 sec

Welcome to season four of Access & Opportunity. Over the course of the season, we’ll be speaking with entrepreneurs who have successfully scaled and sold their companies, with a particular focus on the exit. In this first episode we talk to Lisa Price, the founder of one of the nation’s largest multicultural beauty brands, Carol’s Daughter.In the late 1980s, Lisa was working in the television industry by day and formulating lotions and balms by night. After 35 years of building her brand, Lisa sold her company to the world’s largest cosmetic company, L’Oreal. We take you on Lisa’s journey to entrepreneurship, the challenges she faced as she scaled her business, how she found investors, and how she managed to successfully exit. We explore the challenges she faced as a woman of color and the backlash she received when she ultimately sold her company. And finally, we discuss how her story is helping to change the narrative of wealth and success in underrepresented communities.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Oct 2019

34 min 48 sec

Welcome back to Access & Opportunity, a podcast from Morgan Stanley dedicated to connecting capital and communities. I’m Carla Harris. In just a few weeks, we’ll be back for Season 4 and we’re excited to continue exploring the extraordinary commercial opportunity investors often overlook - investing in women and multiculturally-led businesses. In our upcoming season we’ll be speaking with entrepreneurs who successfully scaled and sold their companies. We’ll focus not only on how they got there, but how they got out - and what they wish they had known beforehand.And for this season, we’re asking for your help. As we speak to these entrepreneurs who have all sold their companies to large corporations, we’ll be asking them listener-submitted questions. So, if you’re interested in how these prosperous founders built their networks, how they managed to secure that initial investor, or how they navigated their way to success, please leave us a voicemail at 3 - 3 - 0 - 8 - ACCESS (222377). That’s 3-3-0-8-2-2-2-3-7-7. Alternatively, feel free to write us an email with your question at carlapod@morganstanley.com. If you’re lucky, you might just hear your question in an episode of the upcoming fourth season of Access & Opportunity!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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Sep 2019

2 min 10 sec

Silicon Valley venture firm Kapor Capital recently released its annual Impact Report, which clearly demonstrates that they have not sacrificed returns when investing in women- and multiculturally-led businesses. In this episode of Access & Opportunity, we welcome back Dr. Freada Kapor Klein, a founding partner at Kapor Capital and founder and co-chair of the Kapor Center for Social Impact. Dr. Kapor Klein talks to us about that report, about the principles that guide Kapor Capital's investment strategy, how a focus on skills instead of pedigrees can be both inclusive and effective, and how a new approach to venture capital might help change the capital-access divide. This is the final episode of our third season of Access & Opportunity, where we have been exploring how influential investors, from across various pools of capital, are helping women- and multiculturally-led businesses gain access to capital. After you’ve listened, and while we work on Season 4, check out more of our content on the Morgan Stanley Inclusive Innovation and Opportunity page:https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe 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. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Jul 2019

22 min 28 sec

Welcome back to Season 3 of the Access & Opportunity Podcast. This season we are exploring how influential investors from across various pools of capital are helping women- and multicultural-led businesses gain access to capital. In this episode, we speak with Charles Hudson, founder and Managing Partner at Precursor Ventures, a seed-stage venture capital firm that was built on that belief that all entrepreneurs, regardless of background, benefit from having an institutional investor to help them scale and grow their company from the very beginning. Charles talks to us about how his experiences as an entrepreneur have shaped his perspective as an investor, why he focuses on pre-seed companies, and how the entire investing landscape needs to change to better incorporate women and people of color at every level.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. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Jul 2019

28 min 5 sec

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses gain access to capital. In this episode we'll be talking to the leader of one of the largest black-owned private equity firms in America, JoAnn Price. Twenty-five years ago JoAnn Price created Fairview Capital with her co-founder Larry Morse. As managing partner of Fairview Capital, she has devoted her career to creating opportunities that successfully intermediate capital between institutional investors and underserved markets. Today, JoAnn will talk to us about how and why she started Fairview, the principles the firm is founded on, why diversity in the investment landscape matters, and how other people can follow in her footsteps to increase the amount of capital available to underrepresented groups. 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. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Jul 2019

23 min 36 sec

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses gain access to capital. In this episode, we’re talking to Monika Mantilla, a champion for emerging managers and a leader in the Hispanic business and finance communities.As President and CEO of Altura Capital, Ms. Mantilla has played an important role in connecting institutional investors with emerging managers from diverse backgrounds. She is also co-founder and CEO of Small Business Community Capital, an investment fund that helps businesses deliver opportunities for societal transformation. Monika talks to us about how she got her start in finance, why there is a dearth of money managers of color, how she sought to remedy that problem with Altura, and how her work with Small Business Community Capital is enacting social change through impactful investments. Come and join us for the ride!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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Jul 2019

17 min 18 sec

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses to gain access to capital. On today's episode we are talking to Dr. Paul Judge, an entrepreneur and investor who is raising the city of Atlanta's profile as a technology hub by investing in multicultural start-ups. In addition to being the serial entrepreneur who started hyper-successful tech companies like Purewire, Luma Home and Pindrop, Dr. Paul Judge is the co-founder of Tech Square Labs, a seed-stage venture fund that has a strong history of investing in entrepreneurs of color. Tech Square Labs finds companies in early development and provides them with the capital and the mentorship that they need to succeed. Today, Paul talks to us about how his success as an entrepreneur has impacted his lens on investing, the importance of seeking the best talent from diverse backgrounds, and what he thinks the investment landscape will look like in the near future.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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Jul 2019

23 min 51 sec

Welcome back for Season 3 of Access & Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses to gain access to capital. In this first episode of the season, we sit down with Jenny Abramson, the founder and managing partner of Rethink Impact, a venture capital firm that invests in female leaders who are using technology to solve the world's biggest problems. Jenny and her partners launched Rethink in 2015 specifically to help women entrepreneurs and other diverse company founders obtain equitable access to capital.Jenny offers us strategic advice on how we can work to increase the number of women and people of color receiving investment capital. We also consider how recent changes in the funding landscape have opened up opportunities and where additional improvements can be made to even out the distribution of capital to women and multicultural entrepreneurs.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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Jun 2019

23 min 43 sec

Welcome back to Access & Opportunity! We are excited to be back for another season to talk about the extraordinary commercial opportunity that exists when investing in women and multicultural-led businesses. For our third season, we are exploring how influential investors from across various pools of capital are bridging the gap to ensure women and multicultural-led businesses have access to the capital they need to grow. For our listeners who may not be as familiar with the investing landscape, this episode will highlight and give some context for a few of the terms that you’ll hear this season. For those of you who are already well versed, feel free to jump ahead and start the season!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.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Jun 2019

4 min 46 sec

Welcome back for Season 3 of Access & Opportunity! This season Carla and her slate of incredible guests explore how influential investors from across various pools of capital, including private equity and venture capital, are working to provide women and multicultural-led businesses with the capital they need to grow and expand. Episode 1 Launching June 26th!

Jun 2019

1 min 59 sec

“I’ve always been a voracious learner,” says James Rhee, Chairman and CEO of Ashley Stewart and the Founder of FirePine Group. James Rhee may be a surprising CEO of a company whose core clientele are plus-sized women of color, but Rhee sees his mother and a greater humanity in the Ashley Stewart brand. As a child of Korean immigrant parents, Rhee attributes much of his success to his drive to evolve, transform, and adapt. It’s also how he developed his career from high school teacher to lawyer to institutional investor to successful corporate CEO. These experiences may seem unconnected, but for Rhee, his path has helped him see potential where others have not. When Ashley Stewart was twice near bankruptcy, Rhee saw an opportunity and a responsibility where others did not. Within a few years, the struggling plus-size women’s retail company has earned a powerful voice in retail, and made inroads into technology and media. He attributes the accomplishment not just to strategy or marketing, but to something far more valuable: math and kindness. Listening and empathy, and ultimately advocacy, he says, is how you lead and lift others along. But that’s just the beginning. For Rhee, entrepreneurship isn’t about making money. “I am an entrepreneur in life,” says Rhee. In this episode of Access & Opportunity, Carla Harris speaks to Rhee about how he transforms businesses and people, the intersection between social good and commercial success, and most importantly, how entrepreneurship is really a frame of mind. DRAFT DISCLAIMER TEXT ONLYThe 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Dec 2018

24 min 37 sec

Walker & Company’s CEO Tristan knows a thing or two about making the cut. Born in South Jamaica, Queens, Walker rose through the ranks, achieving success at influential startups like Foursquare and Twitter, and companies like Andreessen Horowitz and The Boston Consulting Group. He’s also made top lists such as USA Today’s Person of the Year in 2014 and Fortune Magazine's 40 Under 40 in 2017. But it wasn’t always this way. “The minute I started hearing ‘no’ I knew I was onto something very special,” says Walker. At first, investors balked at his Bevel Shave System, which uses a single safety blade razor to give people with coarse or curly hair a flawless shave. Yet, he knew his innovative product was going to change lives because Bevel changed the lives of other people of color around him. Once celebrities and investors such as Magic Johnson and John Legend saw his massive potential, Walker grew his company to new heights and his product now reaches thousands of people across the country. In this episode of Access & Opportunity, Carla Harris speaks to Walker about his path to success and how his technology is transforming the beauty and care industry  DRAFT DISCLAIMER TEXT ONLYThe 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Dec 2018

32 min 52 sec

“We have to think about how to move forward and how to create a better future for food,” says Julia Collins, co-founder of Zume, a technology-enabled food company with a mission to make healthy food fast and accessible.Founded in May 2016, Zume grew from a workforce of three people to over 150. In that time, Collins has closed on nearly half a billion dollars of investment capital, a true feat for a multicultural founder. This isn’t the first time Julia has launched an incredible business, and it won’t be her last. After a career in hospitality, from Danny Meyers Union Square Hospitality Group to Murray’s Cheese, Julia went out on her own to start Mexicue and Zume. Her strategy? Deliver healthy, delicious food faster than anyone else. In this episode of Access & Opportunity, Carla Harris talks with Collins about how she’s disrupting the food and restaurant industry. Whether by considering how to solve world hunger or how to leverage automation to improve the quality of human lives, Julia will teach us how she used her experience to help make change. 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Dec 2018

25 min 26 sec

After selling her first company at the age of 27, Rose Wang went on to found four other companies, pioneering ideas in technology and government. By 2013, she was one of Fortune Magazine’s ‘Most Powerful Women Entrepreneurs.’ Today, she’s the founder and strategic advisor of The Binary Group and a thought leader, paving the way in Washington D.C.’s small business and government markets. She sits down with Carla Harris on this episode of Access and Opportunity.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Nov 2018

25 min 7 sec

Nely Galan is the definition of self-made. She began her career selling Avon to her friends at age 13 and became the first Latina president of entertainment for the television network Telemundo. She's also an Emmy Award winning producer of over 700 episodes of television in Spanish and English, including the Fox hit reality series The Swan. On top of her TV successes, she's a real estate powerhouse, a Doctor of Clinical Psychology, a serial entrepreneur and a New York Times best-selling author.In this episode of Access and Opportunity, Carla Harris sits down with Ms. Galan to discuss how she made a name for herself in media among industry titans and became a media mogul in her own right, and where she learned her most valuable lessons including how to find your niche in the business world.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Nov 2018

38 min 15 sec

“If you connect the right people with the dollars, great things can happen.” Neville Rhone, Co-Founder and Managing Partner of Arc Capital Partners, talks about seeing beyond inherent bias while assessing investment decisions. His tip for other entrepreneurs: put in the time to learn the market and build relationships on the ground.Rhone is the first guest for the second season of the Access & Opportunity podcast with Carla Harris. In season one, we spoke with entrepreneurs, investors, and developers about how and why multicultural and women-owned businesses are overlooked as viable investment opportunities. In this new season, Carla is shifting the spotlight to focus on entrepreneurs. Rhone takes us through his journey to co-founding Arc Capital Partners and what he’s doing to create opportunity in diverse neighborhoods today.Back with playbook points and engaging stories, Carla’s guests in season two share their experiences and advice on how to connect capital and communities. For Neville Rhone the question has been, how does an investor identify untapped potential in the world of real estate, especially in demographically diverse areas? Leading the charge at Arc, Rhone and his partner focus on investing in undervalued and underutilized properties to revitalize diverse neighborhoods. From downtown Austin, Texas, to Chapman Plaza in Koreatown, Los Angeles, Rhone shares his experience transitioning into entrepreneurship and why urban communities and inclusive investments are the future of real estate.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney 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.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Oct 2018

32 min 9 sec