The Future of Finance is Feminist: Inside RUNWAY’s Anti-Patriarchal Practices
Credit: Megan Totah Design
As a 100% Black and Brown-women-led organization, we can say with conviction that there is zero room for patriarchy up in here. But in reality, practicing anti-patriarchy is just that–a practice. The concept, ideologies, and institutionalized reinforcements of patriarchy are woven into the fabric of this country and into our collective psyche, so it’s not something folks can easily shake free from.
Patriarchy is a system of power and social organization in which cis men hold the most power and privilege, and where social, economic, and political structures are designed to benefit cis men at the expense of women and other marginalized groups. And patriarchy loves to party with other forms of oppression like racism, classism, ableism, heterosexism, and transphobia to create a reckless, belligerent mega-beast of power and privilege. Patriarchy and these other forms of oppression are interconnected and interdependent, meaning that they reinforce and uphold each other. This also means that in order to effectively practice anti-patriarchy, we need to take an intersectional approach.
Recognizing and addressing the ways in which patriarchy shows up in our day-to-day is crucial so that we can actively challenge and dismantle patriarchal norms and power structures in our lives, relationships, and organizations.
At RUNWAY, here are five ways we say f*ck the patriarchy:
We are 100% Black and Brown-women led
This was no happy accident. Our modus operandi as an organization has always started with intention. When we began forming the team at RUNWAY, we were already in deep collaboration with Black and brown women leaders, activists, artists and recovering capitalists who all shared something in common – their work was oriented around healing, justice, equity, and liberation in service of BIPOC communities. So, it was a combination of organic evolution and intentional building that brought us together to form the RUNWAY team. We look to the wisdom of Black women who know what’s best for their communities and local economies as we continue to build on our work.
We are guided by the principles of Just Transition.
Just Transition is a vision-led, unifying and place-based set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy. Patriarchal policies give rise to environmental degradation, political marginalization, and economic inequality. Being guided by the principles of Just Transition means we are redistributing resources and power to local communities, and building economic infrastructure to work towards thriving local economies that provide dignified, productive, and ecologically sustainable livelihoods for Black people and folks of color.
We address implicit biases.
Implicit biases are often rooted in societal norms and cultural stereotypes that we absorb over time from our environment, upbringing, and experiences. Financial institutions have historically carried explicit and implicit bias towards marginalized folks–especially Black communities–which has resulted in systemic discrimination and practices including denying loans, redlining, charging higher interest rates, and other racist policies. We flip all of this on its head with the way we operate and partner with financial institutions. We provide affordable, patient, "friends and family" style funding, provide character-based underwriting, one-on-one business coaching, and a thriving community of support to ensure our entrepreneur community is cared for and looked after.
We developed a Funder Manifesto.
We invite investors to partner with us in ways that are sustainable, equitable, and work towards systems change. Our investors are made aware that our foremost obligation is to our community of Black entrepreneurs and to our Black and Brown-women-led team of dedicated professionals. Through this invitation to be in right relationship, we ask investors to demonstrate concern for the interests and well-being of the RUNWAY ecosystem and understand the difference between their intentions and the outcomes of their actions.
We are committed to ongoing learning and growth.
We recognize that anti-patriarchal, anti-racist, feminist-centric work rooted in justice, equity, and liberation is an ongoing practice and process. As an organization, we understand that patriarchal systems are deeply ingrained in society and that dismantling them requires a concerted effort that goes beyond individual actions. We strive to create a work environment as well as trust-based relationships with investor partners and entrepreneurs alike that actively challenges patriarchal norms. This includes actively seeking out and addressing gender-based discrimination, providing equitable opportunities for professional development and advancement, and promoting a culture of inclusivity and respect. By prioritizing anti-patriarchal values and practices, we hope to contribute to a larger movement towards a more just and equitable society for all.
