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Nadia Okamoto
To the outside world, I was like, quote unquote, very successful for my age. I was like 19 because you actually.
Vivian Tu
Showed an August pad with real blood on it.
Nadia Okamoto
This tampon tax is unfair and consumers shouldn't have to pay for this.
Vivian Tu
This episode of Net Worth and Chill is brought to you by Marshalls. I love sharing new tips on how to make the most of your money. And one of the biggest misconceptions about looking good is that you have to spend. Spend a lot and I'll be real with you. I want those high quality items that'll last. But I'm also on the hunt for the best deal. How can I dress in brand name on trend pieces without maxing out my credit cards? My go to place to do that is Marshalls, where I know I can get the brands I love at 20 to 60% off retail prices. Visit a store or head to marshalls.com to see what good stuff you can find today. What's up, rich friends? Welcome to another episode of Net Worth and Chill. I'm your host, Vivian Tu, AKA your rich BFF and your favorite Wall street girly. And normally when I jump into the studio, I come ready to show up and show out. But if we're being honest, I feel like hot garbage today. I have a headache, stabbing cramps, and muscle aches. And I'm guessing some of the besties listening already know what's going on. I'm on my period. I, like 1.8 billion other people in the world, menstruate every single month. And I'm lucky when it comes to my cycle. It sucks, but I'm able to purchase all the things I need to manage it. Tampons, pads, period undies, Advil for cramps, whatever gummy candy I can get my hands on, and anything else I might need. But some people aren't so lucky. 16.9 million people in the US alone live in period poverty. Essentially, they can't afford the super necessary items that they need to care for themselves during their period. On average, most people are spending anywhere between 20 to 40 bucks per month on period care, not Even including the 4 to 7% tax on these necessary items that many states still charge. And frankly, none of that seems fair. So let me introduce you to someone who's not only trying to change the perception of periods, but the period industry itself. She's a social entrepreneur, content creator, and co founder of August Nadia Okamoto. Welcome to Net Worth and Chill.
Nadia Okamoto
Thank you for having me.
Vivian Tu
I am so excited for you being here. We are old Friends. But before we get started, I need to ask you an incredibly personal, probing topic and question. Do you remember your first period and what was it like?
Nadia Okamoto
Yes, I do. It's like seared into my memory. I got my first period when I was 12.
Vivian Tu
Same.
Nadia Okamoto
And I remember it very vividly because I was about to go to the airport to fly and visit my dad. And I feel like, you know, dad's periods don't immediately. It's a little ick, a little awkward. And I just had to go pee and pulled my pants down. And I think my mind was either I shit my pants because it was brown, or it was, I'm internally bleeding and I'm about to die.
Vivian Tu
Yeah.
Nadia Okamoto
And it's interesting because I knew what a period was.
Vivian Tu
Right. In theory.
Nadia Okamoto
In theory. But like, there's so many details and I think it's so jarring when you get your period, even if you know blood is coming, nobody tells you how much blood it's gonna be. Nobody tells you it's gonna be goopy or have some solids, just solid chunks in it, or that it might be brown. Right. But yeah, my first period is something that I think about a lot. I actually wrote it as like the introduction to my book because I think it was like, I can't. This is why my first introduction to like, this being my whole career eventually.
Vivian Tu
When that happened to you, what did you do? Like, did you talk to your friends about it? Did you talk to your mom? Did you call her? Like, I remember getting my period in middle school and coming home and being like, embarrassed. Like, I didn't want to tell anyone that it happened.
Nadia Okamoto
I was very lucky. Cause I grew up with a single mom and two sisters, so we had an all girl household.
Vivian Tu
Okay, nice.
Nadia Okamoto
We also shared one bathroom, so there was no hiding anything. I remember growing up and I would always make fun of my mom because she would put her underwear that had some blood on it and just soak them in the bathtub. And so even before I got my period, I knew what it was, but I always associated it with kind of like, I don't know, something that was gross.
Vivian Tu
Yeah.
Nadia Okamoto
But very natural. Right? But when I got my period, I remember, like taking off my underwear, literally bringing it to shove in my mom's face, being like, ah, like, I'm dying. Because I don't think I thought it was a period. Like, when I saw blood, even though I conceptually knew what a period was, it wasn't like, this is a period. It was like, this seems too much, too messy to Be a period.
Vivian Tu
Yeah. You expected, like, nosebleed.
Nadia Okamoto
Yes, exactly. And like, bright red blood. Like, none of this chunk anything.
Vivian Tu
Chunk anything.
Nadia Okamoto
Like, it was chunky. And so for me, like, I showed my mom directly, and she was kind of like, you know, made it into a celebratory sort of moment, and then put me on a plane to go visit my dad.
Vivian Tu
And you've come a very, very large way from Chunk City. You are now what I like to deem a period poverty vigilante. Okay.
Nadia Okamoto
It's cool.
Vivian Tu
It's cool. It's like Batman. Okay. And you co founded a nonprofit in 2014 called Period, Inc. What inspired you when you were so young to like, start on this journey? Because most girls were very embarrassed about this topic. And you were like, let me charge forward.
Nadia Okamoto
Yeah. I mean, I was not immediately like, get my period. This is amazing. I'm so confident.
Vivian Tu
Like, not like, your shirt right now. It literally says get period.
Nadia Okamoto
I was in middle school where I was still hiding my tampons, like, in my backpack. And I remember I also used a menstrual cup super early on. And I remember.
Vivian Tu
Do you like that? Because I'm scared it'll get stuck.
Nadia Okamoto
No, I had, like, a really bad experience with it a few years ago. But it's actually something we've been talking about a lot at August. Because I do think that there's a need for, like, more innovation around it anyways. But I remember being in middle school and like, you know, boys would find tampons and then shoot them around the room. And it was like, such a big deal. And then everyone talked about it. And I remember, like, one friend I felt had betrayed me. Cause she told some boys that I used a silicone cup. And then everybody was going around saying I was loose because I could, like, fit a cup.
Vivian Tu
A cup.
Nadia Okamoto
Yeah. And it was kind of wild. So I was more immediately in my early period days, like, still very embarrassed about it. And then I think for me, when I was 16, I, for the first time started hearing stories of period poverty. And at the time, my family was going through, like, a rough spot. Like, we weren't living in our own home. You know, we had moved in with some friends, and I knew that, like, money was very, very tight. Um, but then when I started talking to homeless women, literally on my way to school, because I would have to change buses in an area that was, like, a lot of homelessness around, I would was just always very curious about, like, their life story. And unexpectedly started hearing about, you know, I get my period and then I have to use toilet paper, socks, brown paper, grocery bags, cardboard to take care of someone's period. And I remember meeting women, and they would show me, like, how to make a makeshift pad out of cardboard. You rip off the side. The corrugated inside you can rub in between your hands, and it becomes really soft. And for me, it was just like. Like a complete bandaid ripoff. Like, eyes open. How have I never thought of this before? Like, huge privilege check that slapped me in the face. And I became so passionate about it. And I think when you're in middle school, you know, the public school system, we had community service where it was like, your assignment is to find something you care about and then go volunteer for a nonprofit. And I remember being 16, like, looking up nonprofits and not being able to find any in my area that did anything about access to period products. And also at the same time, you know, talking to shelters and realizing, like, they don't even provide them. And so I think it was, like, an immediate gap. And then I think I googled, how old do you have to be to start a nonprofit? And then it just kind of spiraled.
Vivian Tu
I absolutely love that. Can I ask you a pretty personal question? You mentioned that at the time, you were living not in your own home. Like, you were still trying to, like, go to school and be, like, a normal kid. Like, did you find that the financial hardships your family was facing was preventing you from doing any of the things that you potentially wanted to do? Like, whether it be, you know, create this nonprofit or do anything?
Nadia Okamoto
Like, how did.
Vivian Tu
Did that ever hold you back?
Nadia Okamoto
I really don't. I don't think so. I think, if anything, it kind of. It motivated me to just hustle, you know? And I know hustle carries, like, a lot of negative hustle rotation. Hustle, bro. You know? But I think, you know, being 16, I was also the scholarship kid at this very expensive private school, like, to the point that, like, I was literally the poster child for financial aid. Like, at the galas, they would be the literal poster. They would. Like, I was on the poster. I was on the website. Like, at the galas, they would put me up on stage and be like, talk about trauma, you know, but. So I was like, the scholarship kid. But I think I knew. Like, I remember getting to that high school, they had no free and reduced lunch. And I had been on free and reduced lunch all of middle school. But my mom really, like, she always encouraged me, if you can't. If we can't afford the lunch, go talk to someone about it. And so, like, we. They created free and reduced lunch because of me and my sisters, you know, and then it was like, bus tickets are expensive. So they created some sort of, you know, stipend, literally, to get me a bus ticket. And so I think for me, I was always trained. Like, you know, there are financial obstacles, but you need. You just need to advocate for them. And I think for me, I also saw my mom do that. Right? Like, you know, we were in a tough position, and she was like, we're moving in with friends. We're going to rent out the condo that we have, and that's going to be what feeds us. You know, Like, I saw my mom really, you know, kind of have that mentality of, like, we just have to make it work. And so I think that when I was embarking on this nonprofit thing, it was like, I have no money to put behind this, but I think I know something about fundraising because I see people doing bake sales at school.
Vivian Tu
Yeah.
Nadia Okamoto
And so when we started fundraising, it was literally, like, I would talk to any parents and ask them for, like, $5, $10. And then I got in trouble once because I took, like, the parent directory that you get, and I was writing handwritten cards to all the rich kid parents. And literally, like, not my friend's parents, just, like, literally any parents I knew. Hi, I'm Nadia. I'm a, you know, sophomore at this school. I care a lot about this issue. Did you know that if you don't have period products, please, you know, donate at this PayPal or GoFundMe. And I would mail those. And then I got in trouble for using the parent directory.
Vivian Tu
Wait, how did they find out?
Nadia Okamoto
Because all these parents were like, who's this? How did she get my address? And. But, you know, it became that. And then I remember just Googling like, oh, what is a grant? How do I apply for a grant? And my mom had worked in nonprofits a bit, and so she would encourage me, you know, this is what it looks like to write a grant application. And I would literally apply to grants, like, before I went to sleep, like, I would just write, you know, because most of them are just like some web form that asks complicated questions.
Vivian Tu
And you're doing so much during this time. I'm curious, do you have, like, one piece of advice or something that your mom taught you that helped you be so resilient?
Nadia Okamoto
I honestly think that, like, looking back on it, it was like, a very unhealthy level of, you know, hustle, hustle. Like, I Don't even. My mom, if anything, throughout high school, was like, girl, calm down. Rest. But, like, I started this nonprofit on top of. I put a lot of pressure on myself to get into Harvard. Specifically, like, I started stressing about what college I was gonna go to when I was 9 years old and my mom sent me to therapy. Cause she was like, you're nine. You should not be studying acceptance rates to, like, Stanford and Harvard. But my mom had told me pretty early on, like, we don't have money for you to, like, be able to go to college unless you go to Harvard or someplace with a big endowment. Because then it'll be free, you know, because, like, we always made below that poverty line. So that I knew if I got in with need blind, you know, applications, it would be free. And so for me, that was like, you had to. I had to do or die. Yeah. And my mom had gone to Harvard, too. So, like, I knew that it was. I had the privilege of, like, I knew it was within grasp, but I, like, overcompensated. I was, like, doing the nonprofit, but I didn't. The nonprofit, to me, was, like, my passion project. But, like, I was doing all this other stuff that I thought would help me get into college. I was, like, doing 16 clubs. I was, like, president of Mock Trial and MUN. And did ballet, was on the baseball team. Like, did all of the stuff. And so. But I think for me, it was from a place of fear. It was like, I need to get into school. I need to get out of this situation. I need to figure out a good career. I need to. You know, it was a lot of anxiety. And, like, in my senior year, junior year, and senior year of high school, I was, like, regularly passing out and going to the emergency room for exhaustion. And all the nurses knew me because I'd be wheeled into this fucking emergency room, and they'd all be like, girls back. Because she didn't sleep. Like, it was not healthy. And that's why I say, like, complicated relationship with Hustle. Because this is like, 2014, 2016, right? Like, this is when hustle culture and, like, girl boss culture was, like, peak. Yes. Always. Never sleep. Work till you die. And I literally did that.
Vivian Tu
Yeah. So ultimately, spoiler alert. Nadia does get into Harvard.
Nadia Okamoto
Yes.
Vivian Tu
And we are starting our amazing Elle woods dream. Well, I guess she went to law school there, but. So you're at Harvard and you are running this nonprofit. Let's talk about something that you have secretly told me you are quite embarrassed about now. You actually wrote a book.
Nadia Okamoto
Yes.
Vivian Tu
Period Power, A Manifesto for the Menstrual Movement. Like, what made you want to do this?
Nadia Okamoto
Well, at this point, my freshman year of college, like, the nonprofit was pretty big, right? Like, we were, you know, at that point, had like a seven figure budget.
Vivian Tu
Yeah.
Nadia Okamoto
My freshman year, we hired our first employee who was actually a graduating senior at Harvard.
Vivian Tu
Oh, nice.
Nadia Okamoto
And so, like, I feel like the organization was, like, becoming a real thing. I was not yet paid for my job, but I was, like, about to be paid, I think, like 40k a year.
Vivian Tu
But that's more money than like a freshman or sophomore in college has ever seen in their life. Yeah.
Nadia Okamoto
So to me, like, it was becoming a real organization, which I was really excited about. But I felt like there was this barrier where I was doing all this speaking and I interviews, press, getting asked the same questions over and over again of like, what is a period? Like, what is period poverty? Why does period stigma exist? I still get these questions today, right? Like, a lot of questions like, I don't think it's stigmatized. Why do you think it's stigmatized? And I'm like, how could you not think it's stigmatized?
Vivian Tu
Because I have to slip a tampon on my sleeve to pass it to a friend.
Nadia Okamoto
But I felt like there were all these questions I kept having to answer. And at the time, I had started taking gender studies classes, and I just was like, oh, there are these manifestos, these books, like the Red Stockings Manifesto, Riot Girl Manifesto. Gloria Steinem wrote these amazing manifestos for the second wave feminism of the 1960s and 70s. And I kind of fell in love with this idea of having a text or a manifesto that I could hand to someone and be like, this is what we're doing. But before that, so I had kind of started looking into, like, what does it take to write a book? And I literally, actually, before my freshman year, had Googled how to write a book, how to publish a book. And I remember finding like, a wiki answers, you know, where it's at step one, and there's a little cartoon.
Vivian Tu
The WikiHow.
Nadia Okamoto
Yeah, WikiHow. And I literally just followed those steps and it was like, email literary agents. And I made a sheet of like, you know, all literary agent emails are public of a hundred literary agents. And sentences this out to everything. I think I probably heard back from 5 and 2 said, yes. You know, so. And then we eventually published with my dream publisher, Simon and Schuster. But at the same time, I was running for office, and I was like, running for Cambridge City Council.
Vivian Tu
Wow.
Nadia Okamoto
And like, accidentally became the youngest Asian American political candidate in the US at the time. And I think for me, it was like a critical year of evaluating, like, many different career options. Because coming from a activist, anti capitalist background of nonprofits, grassroots organizing, I was starting to realize money runs everything, runs everything. I literally, to do my nonprofit job, I have to fundraise from Procter and Gamble, Unilever, the biggest corporations to do the work. Corporate donors literally drive so much of the nonprofit sector. Then I was running for office because I was like, okay, nonprofit seems stuck. Let me go into the public sector. And it was like, oh, we measure electability based off of how much money you raise. My whole job as a political candidate is to raise fucking money. And the first question I get from political consultants is, how much money do you have in the bank? I emptied my savings account into my own campaign, which was, by the way, $12,000. It wasn't much, but like, I ended that campaign with like $0 in my bank account and was like, yeah, this isn't for me. Like, I'm never running again. But, you know, we made history with student turnout. And, you know, the campaign ended. I lost. We came in 12th out of 26 for like nine spots. So I felt like, middle of the pack. Yeah, middle of the pack. But for me, honestly, I think that happened. The book came out and I think that was the moment where I was like, I really think my future is in business. Like, there's something that I'm too frustrated by in the world of the public sector, the nonprofit, nonprofit space. And I think I really need to reconsider my ideas of wealth and capitalism. And so I changed my whole major to like, study capitalism. Because I really did grow up hating capitalism, like, thinking it was like the worst, you know, and I still do in many ways. But I think that running for office and then coming to terms like the research for the book and, you know, writing the book, I was really like, wow, the period stigma exists because of the industry. And so, like, this needs to change, but they have all the power. But I think that year, like 2017, I was like, I think business is my future.
Vivian Tu
Business is the future. If you could look back today as today, Nadia, what would you tell that girl?
Nadia Okamoto
Honestly, to sleep. Like, I think that at that point I was sleeping maybe one to two hours a night.
Vivian Tu
How were you functioning?
Nadia Okamoto
Barely. Like I was barely functioning. I mean, I was, you know, trying to work several jobs, you know, run this nonprofit. And then I, like, I would think I was at the time. I was also A research assistant at the musicology department, like, you know, cleaning floors at a yoga studio. I was very, like, I always overcommitted.
Vivian Tu
Yeah.
Nadia Okamoto
And I just stopped, really stopped talking to my family, stopped talking to friends. Was just like, I just. The nonprofit needs to take off. The campaign is happening, like, for literally almost a year. I canvassed for four to six hours a day. I would walk up and down the streets with my little brochures, knocking on doors, talking about, like, local issues, but I was exhausted. And so I think when I look back at that time, like, I, of course, like, I look back at it and I'm like, wow. Like, to the outside world, I was like, quote, unquote, very successful for my age. I was like, 19. But, like, I just remember being so depressed, like, so tired. So, like, dissociated and just like, trying to, you know, do everything. And, uh. But, yeah, I think I just, like, I don't really remember most of those years. I think I was just, like, so focused. The whole thing out blacked, Completely blacked out. Yeah.
Vivian Tu
Okay, so you make this decision. You're like, I'm going to transition from a nonprofit to focusing on business. You want to create an actual menstrual product or a company. What specifically was, you know, in your mind when you were like, I need to reinvent something that hasn't gone through a lot of innovation for, I don't know, quite some time, decades, maybe centuries. Like, yeah, the products have gotten a little bit cooler, the packaging has gotten a little bit better. But, like, what made you want to create better pads, tampons and products?
Nadia Okamoto
Well, I didn't immediately jump to thinking, like, I'm going to create my own company. It was actually like, let me try to change the current industry. So my second business was a Gen Z marketing agency that I joined that my friends had started working on. And for years, like, literally, Tampax, always Kotex, like, they were clients of mine. And this Gen Z marketing agency was working kind of with, like, the largest conglomerates on Gen Z marketing. And I was trying to push, make tampons cool again. Yeah, I was like, I literally was like, let me go to where these are. And I knew a lot of the kind of big whizzes at those places because of. They were literally donors of mine. And I had done, like, influencer gigs with them. Like, I knew them. But for a few years, I was like, I'm going to go within the industry. I want to work within it. That's what I need to change. And so I didn't immediately jump to, like, let me start my own company.
Vivian Tu
And you said just influencer gigs. Like, were you already on social media building a following at that time?
Nadia Okamoto
But at that point, I was, like, 6,000 followers.
Vivian Tu
Okay.
Nadia Okamoto
But I was still making six figures.
Vivian Tu
Yeah.
Nadia Okamoto
As an influencer gig, because it was like, a spokesperson, and it was actually, like, a huge driver. Like, most of it would go to the nonprofit. Right, right. And so, like, I was the biggest private donor to my nonprofit. By the time I was maybe, like, 20 and, you know, just continuing to kind of use, I basically realized I could monetize my image for, like, donations to the nonprofit. So did a lot of that. But I would say that for me, like, I tried for years to change these companies from within, and then I was like, they don't listen. And then I was learning things about the product that I was just not excited about. Like, at the time, most pads have enough plastic for three to five plastic bags each. Oh, no wonder they feel like a plastic diaper, you know, or like, they're. You know, there's. It's not as easy for them to be like, oh, we'll put the ingredients on the bat. The, you know, the box. Like, I was coming up against all this kind of strife that I was like, I think you just. I wish I could just start from scratch.
Vivian Tu
Yeah.
Nadia Okamoto
And so I would say, like, by, you know, two years later, I was like, I really was obsessing over this idea. Every day I wish I could just do it myself. And I couldn't stop thinking about it. And then in 2019, kind of told the nonprofit, I need to transition out, replace myself as executive director. The nonprofit is big enough that it needs a new leader and let me step out of this consulting firm so that I can kind of have, like, no conflict interest and start my own thing. And then early 2020, right before the pandemic started, decided to start this company.
Vivian Tu
And you said, you know, you wanted to go out, start your own thing, go it alone, but you didn't. You have a co founder.
Nadia Okamoto
Yeah.
Vivian Tu
How did you find this co founder? How did you know? This is the person I want, you know, to get into bed with.
Nadia Okamoto
I have always had a co founder, so even the nonprofit. My co founder was a CIS guy in my class named Vince, and he was basically the coo, Right. Like, I am very aware of, like, my weaknesses, and my weaknesses are, like, attention to detail, spreadsheets, anything financial operations. Like, I am very big.
Vivian Tu
Don't worry, girly. I'll help you after this.
Nadia Okamoto
Yeah. So like for me, I've always had a co founder and I actually think it's like, well I was diagnosed with borderline personality disorder a few years ago, which is basically like I actually have really low self confidence and very low sense of self worth and I'm have a lot of imposter syndrome. But I think that the way it manifests for me and where I think it's kind of become a superpower is I'm hyper aware of, I want to arm myself with people that I think are much smarter, much more intelligent and strategic than me. And so I've always had a co founder. Like there was no part of me that was like, let me be a solo entrepreneur. And so my co founder of August is actually the original co founder and CEO of Joovv Consulting, the Gen Z marketing agency. So we both kind of left to start this and that company has since sold to UTA earlier this year, which is really exciting. So he can now say like he's an exited founder, you know, but, but yeah, I mean, so I've always had a co founder and I think that for me like it was a non negotiable because I know what my strengths are and my strengths are like direct compliment with what his strengths are.
Vivian Tu
That's awesome. Okay, so you come together with this co founder and you're like day one you got a whiteboard, you're sitting at a table like this. How do you start a company?
Nadia Okamoto
Oh my gosh, there's no right way to do this. I think one of the things that I did not realize at the beginning, like I knew nothing about raising capital. I did not know what VC stood for. I remember having venture capital guys, venture capital. I remember pulling some of my friends at Harvard who had like taken gap years being like, so you raise capital. Like what is, what even is that like. And remember like asking kind of my buddies at school to like explain a convertible note versus a safe document. What does it mean to have shares? Like literally you have to learn a whole new language. Right? And you know, I did not expect to have to raise so much money. But like first of all, it took us months to figure out what the product was going to be. I thought it was going to be a menstrual cup. Then we did consumer, you know, kind of interviewing like 99% of the people did not want to use a menstrual cup. You know, kind of similar to you. It's scary the idea of doing it.
Vivian Tu
What if it gets stuck? Nadia?
Nadia Okamoto
No, exactly. There's a lot of Fear. And so it was like, we need to actually make a very approachable, you know, what looks exactly like the tampons and pads that you're using, but actually is much better and much cleaner. So we had to decide on what the product was. Did a lot of kind of interviewing, community building, make sure that it was actually something we could do. Then it was a lot of research because tampons are a Class 2 FDA approved medical device. So like, you have to do a lot of research behind who are the manufacturers? What are the ethical kind of standards that we really need to hold ourselves to? And then again, I had to learn so much around doing beauty or apparel I think is actually a lot easier to get started. That's why UC so many of them. Because the minimum quantity orders are quite small.
Vivian Tu
Right.
Nadia Okamoto
If I want to do, let's say like a run of T shirts, for example, I can buy 50 and sell those.
Vivian Tu
Yeah.
Nadia Okamoto
With tampons and pads you can't do that. There's a minimum quantity order. So like that's in the hundreds of thousands. Usually, like the minimum quantity order will be like 50,000 boxes.
Vivian Tu
Boxes, not just tampons.
Nadia Okamoto
Like, and again, it's different per manufacturer. So there's, there's no such thing as like, let me do a small run.
Vivian Tu
Yeah.
Nadia Okamoto
Of a new product. Right.
Vivian Tu
Let me beta test this.
Nadia Okamoto
Yeah. Maybe if you truly just like bought like the most simple product. But we wanted to customize the tampons. Like, there's a lot of like, our tampon just looks like a tampon. Maybe. But there was so much into how does the tampon open? What does the string look like? You know, what is the manufacturing process? How is the applicator? Is it compact? Is it long? Like, we customize a lot of the product. And so for us it was like we had to raise capital. Then you have to think about the cost of how does it get here, what kind of checks does it go through? Where is it? Warehouse. Who's doing the packaging? How do you pay for ground shipping? And then how do you think about the website? Like, there's so much in it. And I remember like when we first started fundraising, I was like, we're gonna raise 300k. And then it was 600k and we ended up raising $2 million before we launched. So like over the course of the first year and that was our pre seed round.
Vivian Tu
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Nadia Okamoto
But. So yeah, I would say the first year of the company was fundraising, getting rejected a lot. And then I was obsessing over brand.
Vivian Tu
Yeah.
Nadia Okamoto
And in the middle of this, in the middle of being pre launch and raising our pre seed round, I went to rehab for mental health breakdown, burnout, cancel, you know, everything. It was so I like had to put fundraising on hold. But going to rehab before the company launched was like the best thing in my life. It like totally saved my life. And I think I'm like such a better founder because of it and probably.
Vivian Tu
Feeling a lot stronger enabled. And I did want to bring up a touchy subject. You recently caught a little heat online because you actually showed an August pad with real blood on it. And normally when we see these commercials, it's like that blue Gatorade that goes on tampons and pads. What made you want to use a liquid that either was blood or looked like blood versus using the blue Gatorade?
Nadia Okamoto
I mean, it's interesting because, and I think this is where I always say, like, I again out the gate of getting my period was never like immediately so proud of my period. Like it took me six years working in the period space to even consider putting my blood online. But it was as soon as we launched the company. So like June 2021 when I started getting on TikTok and I had zero followers when we launched the company. And I think it's a big misconception is now people see that I have like 5 million followers online and they're like, oh, she's a TikToker that started a brand. But like, no, when I started the brand, I think I had 13K on Instagram.
Vivian Tu
Yeah.
Nadia Okamoto
Like, I had no TikTok.
Vivian Tu
That was just to support your nonprofit. Yeah, you were literally making money to put into your nonprofit.
Nadia Okamoto
But it was like I wasn't an influencer. I was like a micro spokesperson. Like I was always signed as like a spokesperson. But you know, who could talk about this issue? But I started getting on TikTok as a way to, like, okay, actually, if you, you know, if you look at the PNL of a company, we need to lower our cost of acquisition and have our revenue grow. So, like, someone needs to grow organically and we can't pay a bunch of money for paid marketing and influencers. We need to, like, someone needs to go viral. And so I was just making content, and then when I started just showing the pads and the tampons, immediately people didn't wanna see the product. But then people who were curious were like, if it's more sustainable, how can you prove that it works just as well? Right? Cause we think like a straw, Like, I hate paper straws.
Vivian Tu
We think, oh, they disintegrate.
Nadia Okamoto
Disintegrate. We think more sustainable products do not work as well. And so the question I was getting was, like, how does it really work? You know? And I think immediately, I don't know, like, there was not a lot of thinking. It was like, okay, they're asking me how it works. I just need to show them how it works. And I was like, changing my pad. Like, this is how it works. You know, it was. It just felt very obvious to me. It was not a very well thought out, like, it was just like they asked. I'm answering.
Vivian Tu
Yeah.
Nadia Okamoto
And similarly, like, I think I was seeing all these, you know, small businesses come to life on TikTok, where it was like, I started this swimsuit brand. This is what it looks like on me. And there's something powerful about seeing it worn.
Vivian Tu
Right.
Nadia Okamoto
And there is so much about specifically our pads that I wanted to show. Like, our night pads have this second wing. It covers my butt. You can't see my butt crack. Let me show you how it works. Like, it just felt very natural.
Vivian Tu
You just wanted to show people the real deal versus, like, this fake, I guess, like, cookie cutter version of, like, what a product could look like on a perfect body in a perfect situation where blue liquid fell onto it instead of real blood.
Nadia Okamoto
Yeah. And I mean, also, I think, you know, at that point, we'd been working in secret on this product for a year and a half. I think I was also just, like, so proud of what we had created. Like, you just wanted to show everybody.
Vivian Tu
Yeah.
Nadia Okamoto
Yeah.
Vivian Tu
I love that. And you talk a little bit about period poverty and the unfairness of it all. And the thing that, from a finance perspective, that I think is just so unfair is something that you're very passionate about, the fact that there are still taxes on necessary products. You mentioned earlier, I believe you said it was a Class 2 or FDA product? A Class 2 FDA product. If this is, you know, monitored by the FDA, why are we still paying taxes on these menstrual products?
Nadia Okamoto
Because it's that we live in a patriarchy, you know, like. Yeah. So in 2014, the tampon tax, as it's nicknamed, existed in 40 states. Now it's in 20 states 10 years later. So we've made progress.
Vivian Tu
Yeah.
Nadia Okamoto
It's something that I've, like, it's been a through line of my work through the last 10 years. I'm very passionate about it. Because the Tampa tax is not going to solve period poverty because it's affecting people who already buy period products. But it does make a difference. Right. If it's in some places up to like 10%, it's an added $2 that you're paying in taxes every single time. Every single time. Right. And to me, like, it's. It. The issue is that not with having a sales tax on things in general, it's that there are many products that are exempt because they're medical necessities or because they've been deemed necessities in some way. So Rogaine, Viagra, Rogaine is a medical necessity. Old male hair growth interactions products do not have a tax in some states. Vending machine sales, cowboy boots, Chapstick cereal, Like, that's. That's where it gets fucked up, right? Yeah. My issue is not with the sales tax in existence. It's like the fact that other things are exempt that make it. That. It makes no sense why tampons and pads are not exempt. Right. Like, I think these products are medical necessities and should have this exemption. And when you look at, like, the list of things that are exempt, it's ridiculous. Right. And so. But so Today there are 20 states that have the tampon tax. It literally costs these states nothing to take it down.
Vivian Tu
Right.
Nadia Okamoto
It's like less than half a percent of the overall state budget. And, you know, I have seen that the backlash that we get to taking down the tampon tax is stupid. It's like, oh, we need to make up the revenue. We'd have to increase taxes on tobacco and alcohol. And I'm like, do it. But the lobbyists for those industries are so much stronger than us. Right? Of course. And it's such an archaic law that not a lot of people know about. And that's why I care so much about social media, because I've seen in these states when we make a lot of noise on social media and we change public opinion and the governor starts getting heat for the tampon tax, that governor, with a sign of a document can take it down. Governor Newsom took it down. Governor of Ohio. And it's a bipartisan issue. Right. But to me, the tampon tax is a big deal because it's very symbolic of we do not have period products nationally in schools, shelters and prisons. Food stamps still didn't cover period products. FSA HSA savings just started covering them like two years ago. And like, the tampon tax is literally the legal precedent that period products are a luxury, non essential item. And our governmental system works off of legal precedents. And so we need to take down the tampon tax so that we can make the argument in other places for period products to be free in schools, in shelters, in prisons. And we still don't have that accessibility. And like, my thinking is that period products should be just as accessible as toilet paper.
Vivian Tu
Yeah.
Nadia Okamoto
You know, you still buy toilet paper when you go to the store, but you also expect it to be in every public restroom that you go to. And for schools, there's funding for it. For prisons, there is access to toilet paper. It's not this commodity that prisoners have to or inmates have to buy from the commissary. Like, I feel very strongly that the accessibility should be just like toilet paper.
Vivian Tu
Yeah, it's a human right.
Nadia Okamoto
It's a human right. And so with August, like, you got my. I fought for the tampon tax on the nonprofit space, raised a lot of money to like run these campaigns for it. And something I was excited about when we started August was like, let's just be a tampon tax free brand. So wherever legally possible, if you bought products from us at the beginning online, we just didn't charge the tampon tax. We absorbed it.
Vivian Tu
And then you teamed up with a bunch of really cool brands to actually create a coalition called the Tampon Tax Back Coalition. Yeah, tell me all about that.
Nadia Okamoto
So we started originally doing it as soon as we launched in Target of being like, well, we don't control that transaction, but we still don't. We want to take a stand against a tampon tax. So we created this way where if you see a tax being charged to you on your receipt, you can text us a picture of your receipt and we'll venmo you back for that tax. Right. And so it's us completely eating into our revenue. It's not even something that we're getting that tax revenue in the first place, but it was just kind of a symbolic, like this tampon tax is unfair. And consumers shouldn't have to pay for this. And then after a few months, we were like, wait, let's just get all the other brands as much as we can to do this. So we recruited about eight other brands, created the coalition. So, you know, the tampontaxback.com, if you go to the website, there's one phone number. You text the receipt for any of these brands, and we'll venmo you back for whatever tax that is. And to me, it was kind of like, you know, coalitions are not new in the nonprofit space. Right. But it was exciting to bring it into the company space, where usually we're pitted against each other as, like, staunch competitors. But the thing is, like, a lot of these founders I've known since I was a teenager, you know, like, I've known the founders of Diva cup and Salt and Honeypot, like, literally since I was a teenager, because they were donating products to the nonprofit they're still donating products to, period. Right. And so for me, like, it felt like a big full circle moment to be able to kind of hold hands with these other founders and be like, look, I know on paper I'm a competitor, but like, we all believe. And I think this is like the magic of female founders. And when we talk about, like reimagining capitalism, like there is a world of collaboration to say we can put purpose over profit or like even purpose and understand that it can be in line with profit and like, come together around an issue that we really care about.
Vivian Tu
I love that so much. And you talk about the capitalism piece of it. How are you able to balance, you know, like having a for profit company where you have investors whose expectation is for you to make money, and then saying, we will eat into our own revenue because we believe that it is not right for people to be charged this tax. Like, how do you juggle your ethics? But also the need to make money.
Nadia Okamoto
I think that it's not even like a consideration. Like, we. If an investor thinks that's stupid, you know, impact is not the goal or impact shouldn't be part of the goal. They just aren't the right investors for us. Right. We did turn down a lot of money, you know, when we were starting, like I remember, and it was really hard. Right. Because of that.
Vivian Tu
That's a luxury.
Nadia Okamoto
Yeah. And it's a total luxury, but it was in a risk. Like, I remember my co founder and I being like, so exhausted from fundraising, getting rejected every day, and then having an investor say, we'll invest money if you aren't trans inclusive, if you don't post period blood, and we got that a lot.
Vivian Tu
Wait, people actually said out loud like they didn't want.
Nadia Okamoto
If you are trans inclusive and you say trans people get periods, you will not reach women. If you show period blood, people will think you're gross. Like and there are still investors who like I know shit talking behind the scenes because we turned down their money and to them it's like, why would you ever turn out money? But we turned it down. And so I think we. The thing I'm proud of is we have a cap table of investors who are very values aligned. Right. And those investors exist out there. A lot of them are women. A lot of them are women of color who are like, yes, this is something that we need. But I think it's also taking a bet on a lot of like this conscious consumer, this consumer who doesn't want to be, who wants to invest their capital. Like we live in a consumer's culture. But it feels good to buy from companies that you think are doing good. Right. Like that feels exciting. And we aren't the first brand at all to do this whole, you know, buy tampons, we donate tampons. Like we donate products for every.
Vivian Tu
Tom's Shoes is the one example that I always think of.
Nadia Okamoto
Like that isn't new, which is exciting.
Vivian Tu
Right.
Nadia Okamoto
It's become more of the norm. And so I think part of it, the case that we can make is like people buy from August partially because of the impact commitments that we have. And so you don't have to think about it as mutually exclusive of impact versus profit. Like they can work in coexistence and support each other. The more money we make, the more impact we can make. The more impact we make, the more excited people are, are to support the company.
Vivian Tu
Yeah. And you come from this Gen Z marketing background. So I know these are all thoughts that are like swirling in your head. What do you think is like kind of like the next tier, the next echelon of Gen Z consumption? Like is every brand out there going to have to start having some sort of, I don't want to say like a non profit spin or a non profit bend to them. How do you think brands actually get Gen Z consumers to care?
Nadia Okamoto
I honestly think that it's already happened. Like I think that we've seen like with a lot of, I mean cancel culture around brands has been because I think maybe five, ten years ago brands were like, oh shit, you know, commission. And I was behind some of these Studies. Gen Z cares about impact. They want to buy if the company says something about sustainability. So then you see all these companies throwing on a leaf onto their packaging, you know, having some earth commitment, planting trees. But then you see green washing, woke washing. Companies being getting backlash for consumers realizing, like, wait, they're just saying that, right? The woke washing is very real. Like, commodity activism is like the academic term for it. But it's literally companies realizing that if they say they're doing good, they can sell more product and not have to back up those claims. But I actually think that there's this wave of being like, of consumers being very skeptical. Right. Do they just say that? Do they believe in it? Right. Do they care about dei or did they just make that higher because they were getting backlash and now they don't have that higher? Right. I think that we're actually past the like, for example, August is climate neutral. We don't even talk about that because it's not a differentiator anymore. It used to be, right?
Vivian Tu
Yeah.
Nadia Okamoto
Sustainable packaging, I don't think is a differentiator. It's an expectation. And so I actually think that we've already seen this wave of companies realizing, like, social responsibility. ESG is like, already. Yeah, but it's already a norm, right? Like, it's already an expectation. And so I actually think what is exciting is that I think we've already seen that expectation, but now it's about, like, how do you. It's a fine line of like, not tokenizing it and making it a DNA part of the brand rather than like something you do for clout. Right. But I think that Gen Z, Gen Alpha consumers are very skeptical about it. It's like this expectation, but if you do it wrong, fuck you. You know, it's like a very. It's a balance.
Vivian Tu
Yeah, yeah. And you've been so, so open and I think transparent about your experiences of going to rehab for mental health. Like, even, like, feeling, you know, some of the negative side effects of like, cancel culture. What would you say is the biggest mistake you've made building August. And if you could go back in time, would you try to erase that?
Nadia Okamoto
Um, I think that, like, with August, I'm. I think because August started like, after rehab, I actually, I'm very proud of where, where we've netted out with August. Of course there are, like, decisions. I mean, honestly, like, there are small mistakes, right? Like, I really don't like this packaging.
Vivian Tu
Wait, why?
Nadia Okamoto
So, like, people love our packaging, but you cannot read. You can't read some of the text is so small, right? There's small things like that, right? Like there are mistakes where we move too quickly. And you know, I think that there are, you know, and I think that that's something that I think about a lot of. Like so much of my mentality is go, go, go, go, go, go. That like, I do make a lot of mistakes. I am not a perfectionist at all. And I think part of it is because I have this like, insecurity of like, if I think too much about a decision, it won't get done. It won't get done. So I move very quickly. And I think that's where my co founder is actually. Like, we balance each other out because he's very thoughtful, very methodical and so we will, I will push things and he'll say slow down. So like we need that balance and harmony in our company. But like there's that where I'm constantly trying to work on, of like, you know, what is the balance? How quickly do we move? How do we avoid mistakes like that? But I think, you know, when in my earlier parts of my career, I think like the biggest mistake was I was just not thinking clearly. Like I. When you sleep one to two hours a night and you're working three jobs at any point in time and you have no friends and you like, are dissociated and blocked out from reality. Like you make mistakes, right? And, and you forget the conversations you had. And like, and I think that's why I care a lot about like paper trails. And I care. I think one of the reasons I love content creation is like, I have part of my cp. Like I got, I have like complex ptsd. And one of like, you know, the symptoms is like, you have bad short term memory. And so like I will watch videos and vlogs that I made a month ago and be like, I have like literally no recollection, recollection of this happening. And so like, I love content creation because for me, like, it's, it's literally a visual diary. And I think it's been really good for like my memory and things like that. But I think that for me, like, there's a lot of things that I think that I wish I did differently, that honestly are big motivators for me to continue. Like, I sleep 10 hours a night right now.
Vivian Tu
10 is great.
Nadia Okamoto
Yeah, I sleep 10 hours a night and I have a dog. And like I have this boyfriend I've been with for five years. Like, I very much like think of my life as like pre rehab post Rehab and, like, just that being such a big inflection point for me.
Vivian Tu
Well, one, thank you for being so honest because I'm sure there are people listening who still feel the stigma around going to rehab, and it's clearly really worked. You are so successful and you teed me up perfectly. I want to switch gears. Now that you are at a point where August is a standalone company. How do you differentiate between August Nadia online and who you are as a person?
Nadia Okamoto
Oh, I'm such a hard question. I'm sure you have this too, right? For sure. Yeah. Being like, Wall street girly and then in real life, who is. Via Vivian. Yeah, exactly. I think. I don't think I actually distinguish between who I am online and who I am in person. And I think people who meet me, they're like, wow, you're, like, literally who you are. It's actually funny because there are, like, Reddit threads with screenshots of me.
Vivian Tu
Girl, you should not be reading Reddit.
Nadia Okamoto
No, I know, I know, I know. But, like, there are. There are funny ones, and the funny ones are like, oh, another nip slip. Or like, oh, another where she looks like shit. Because it's like, I do not edit my content. I, like, press like, it's not polished content. Like, I'm so unfiltered. And I'm like, literally, like, I think that for me, like, I just make content about whatever I'm thinking about, you know, whatever I'm doing. But I would say that for me, like, I think of August as literally the manifestation of, like, everything I care about and, like, what I want to see in the world. But I do not think of myself as August. Right. And I actually think about this a lot in our marketing strategy, where I am not the main poster on the August account.
Vivian Tu
Correct.
Nadia Okamoto
For the most part, like, my face is not really on. Right. I might show up once a month, but, like, I'm not logged into the account. Like, we are.
Vivian Tu
You're not even logged in.
Nadia Okamoto
I can be logged in, but I, like, it's not on my phone, you know? Like, I think of myself as, like, a top of funnel for August, but I do not think of, like, me equals August. I think of me being, like, the biggest cheerleader for August. But I love when people are like, oh, I didn't realize that you were the girl behind August. Like, I love that. And I love that so many of our customers have never heard of me. Right? And I think that for me, but I want it to be that if people know about me, they know about August. But not the other way around. Right. And so I think about that a lot. And most of my job, day to day is like, zoom calls.
Vivian Tu
And it's not sexy being a creator.
Nadia Okamoto
It's not sexy. Yeah. Like, there's content creation, which is like me being in videos, and then there's like, being an operating co founder, which is like, mostly emails and zoom calls. Like, it's literally, you know, I try to make these day in my life vlogs, and they never perform well because most of my day is just sitting in front of a computer.
Vivian Tu
Like, on zoom, we have had this conversation so many times because I'm like, ugh. I wake up immediately, check my email, and then I take a meeting. Then I eat a sad little lunch in front of, like, the kitchen sink.
Nadia Okamoto
Exactly.
Vivian Tu
With, like, leftovers. And then I go back to my meetings and it's like, that was my day.
Nadia Okamoto
Yeah. There's no, like, it's not like, a cool, you know, day in my. But. And so for. And then for me, like, especially when we started, I was making like, 100 TikToks a day.
Vivian Tu
Yeah.
Nadia Okamoto
Now I've tried to make like, five a day, but so I'm making content, like, in the evenings, you know, and, like, I think you're doing five a day, by the way.
Vivian Tu
That's crazy.
Nadia Okamoto
But I think of August as like, my day job. Like, I work at 9 to 6, and then from 6 to midnight, I'm like, contenting, working, you know? And what's exciting now is, like, that's a whole other business.
Vivian Tu
Right.
Nadia Okamoto
Like, it's its own llc. I have my own assistant. I have my own, you know, so much. There's a whole business of content creation, as you know. You have your agents, your manager, you know, the publicist. Like, that is its own business that I work from six to midnight, you know, and so I think of it as like, my second job. And then who I am as a person, I probably, like, I can do a better job of distinguishing that. But I very much. I don't think that there is a line between being a creator and myself. And I think that I've come to terms with that and I've actually really embraced that.
Vivian Tu
Just being your true, natural self online.
Nadia Okamoto
Is just easier because content creation doesn't feel like a job to me. It's like, I love doing it.
Vivian Tu
That's amazing.
Nadia Okamoto
Yeah.
Vivian Tu
I will say there's some content that I make that I'm like, I am so proud of this. I'm so happy. I can't wait to release this. And then there's some content that I.
Nadia Okamoto
Make that I'm like, I have to make this video.
Vivian Tu
Not my best work, let's just say that.
Nadia Okamoto
But your wedding content. Oh, my God.
Vivian Tu
You're to bring up the wedding.
Nadia Okamoto
Okay, so I am like working on getting engaged. And when I say that, it's like, I fucking got a brand deal for this ring. Every day, my boyfriend, I'm like, where the fuck is my ring? You know? Like, I am working on getting engaged and I'm so excited to make the content. Like, I would say, like, yeah, love my boyfriend, excited for that. But, like, I think probably a top reason I want to get engaged is the content.
Vivian Tu
Okay, but here's the thing that nobody tells you on your wedding day and on during your events, it's actually quite overwhelming and you will not have your phone. So you are at the mercy of whoever's making that content for you. And in some cases they do a great job. And in other cases, you're like, where is all of this? Like, I have three videos from this entire event. I lost my phone or I put it in my purse and I forgot about it. And then you're like, I have nothing.
Nadia Okamoto
No, no, no, no. And I mean, that's why we have this industry of content creation for weddings. Like, but yeah, I mean, I very much, like, I'm very excited for the wedding content. And it's like, probably send you my.
Vivian Tu
Wedding video and you'll see it and you'll be like, oh, my God, oh, my God.
Nadia Okamoto
And you had like the dream mood board wedding. Like, oh, my God, this bitch, her wedding was. When I tell you I was like, refreshing, like, oh my gosh. Oh my gosh. Your wedding was amazing.
Vivian Tu
So funny. That's so sweet. Thank you so much. But I have one final question to wrap up our interview. How has your work in the menstrual space affected your own relationship with your period?
Nadia Okamoto
I mean, I think it has made me so unapologetic. I mean, literally my whole wardrobe is like period themed fucking shirts. Like, my shirt says, gets period from a collab we did. And I think most of what I wear is period related. But also it means that when I bleed through my clothes, my first thought is not, oh, shit, I'm embarrassed. I wonder if someone sees me. It's, oh my God, this is such good content. Like, that's what I think.
Vivian Tu
I'm dead. And I'd be like, in tears running home.
Nadia Okamoto
No, I like, immediately I'm like, oh, my God. Content. And like, yesterday I got My period. I was like on the phone, on my phone, on my toilet. I think I was trying to poop or something. And I was like, wiped. And then I was like, oh, I got my period. And my first thought was, okay, got to make my phone. And so literally I posted this video and I'm like naked on the toilet, like, being like, I got my period. Like, with the bloody toilet paper. Like, to me it means that I think a misconception is people think I love my period. I hate getting my period.
Vivian Tu
Yeah, your stomach hurts. Everything sucks.
Nadia Okamoto
That's why I care about period products. Because I'm like, we might as well have a comfy period because this shit sucks. And so for me, but it means that when I get my period, even though I hate getting my period, I'm excited because I'm like, wow, so much content is coming and this is going to be so fun. Like, I'm training for the marathon right now.
Vivian Tu
Oh my gosh, good luck.
Nadia Okamoto
And this is my first because I just started fucking training my first period, training for the marathon. So I'm like, content. This is great. And I have this, like, joy. I like, love making content on my period. It's just so fun. And I love being able to connect with other people online who are like, I'm also on my period. We're synced up. Like, I love it. I love it.
Vivian Tu
That's amazing. Thank you so much for making all of our periods feel so much more community based. I absolutely hate my period. It sucks. But you are certainly making it easier. And thank you for being so mindful and thinking about those who don't necessarily have access to period products. I'm so grateful that you've been here and chatted with us today.
Nadia Okamoto
Thank you for having me.
Vivian Tu
I'd like to thank my partners at Marshalls for sponsoring this episode of Net Worth and Chill. Being responsible with your finances means taking care of future you. And thankfully, while you're looking out for the you of tomorrow, Marshalls is looking out for the you of today. They've got the latest on trend and high quality fashion, beauty and home decor at a fraction of retail prices. So whether you're starting a new job, taking some overdue PTO, or just sitting at home planning your next move, Marshalls will make sure you look good doing it. Shop in store or online to get the good stuff today. Thanks for tuning into this week's episode of Networth and Chill, part of the Vox Media podcast network. If you liked the episode, make sure to leave a rating and review and subscribe so you never miss an episode. Got a burning financial question that you want covered in a future episode? Write to us via podcast richbff.com follow networth and chillpod on Instagram to stay up to date on all podcast related news. And you can follow me at yourrichbff for even more financial know how. See you next week. Bye.
Networth and Chill: Tampons, Taxes, and Taboo – The Cost of a Period
In this episode of Networth and Chill with Your Rich BFF, host Vivian Tu engages in a candid and enlightening conversation with Nadia Okamoto, a social entrepreneur and co-founder of the nonprofit Period Inc. The episode delves deep into the multifaceted issues surrounding menstruation, including personal experiences, period poverty, the tampon tax, and the challenges of balancing ethics with profit in the business world.
Vivian opens the discussion by sharing her own struggles with menstrual symptoms, setting a relatable tone for the conversation:
"I have a headache, stabbing cramps, and muscle aches. And I'm guessing some of the besties listening already know what's going on. I'm on my period."
[00:08]
Nadia recounts her first period experience, emphasizing the lack of practical information provided to young girls:
"Nobody tells you how much blood it's gonna be. Nobody tells you it's gonna be goopy or have some solids..."
[03:21]
The conversation shifts to the alarming statistic that 16.9 million people in the US live in period poverty, unable to afford essential menstrual products. Vivian highlights the financial burden, noting:
"On average, most people are spending anywhere between 20 to 40 bucks per month on period care, not even including the 4 to 7% tax..."
[01:24]
Nadia shares her personal awakening to period poverty at age 16, influenced by her family's financial struggles and interactions with homeless women:
"How have I never thought of this before? Like, huge privilege check that slapped me in the face."
[06:16]
Nadia details her early activism, founding Period Inc. in 2014 to address the lack of access to menstrual products. Her drive is rooted in personal experiences and witnessing the hardships faced by others:
"We need to take down the tampon tax so that we can make the argument in other places for period products to be free in schools, in shelters, in prisons."
[33:56]
She also discusses her foray into politics, running for Cambridge City Council:
"I emptied my savings account into my own campaign... this isn't for me. I'm never running again."
[16:09]
Facing the limitations of the nonprofit model, Nadia transitions to entrepreneurship, founding August, a for-profit company aimed at revolutionizing menstrual products. She explains the challenges of product development and the necessity of raising capital:
"We had to raise capital. Then you have to think about the cost of how does it get here, what kind of checks does it go through?"
[25:34]
A significant portion of the episode is dedicated to the tampon tax, a sales tax applied to menstrual products in many states. Nadia criticizes the tax as symbolic of deeper societal issues:
"The tampon tax is not going to solve period poverty because it's affecting people who already buy period products. But it does make a difference."
[32:36]
She emphasizes that removing the tax requires minimal effort from state budgets:
"It literally costs these states nothing to take it down."
[33:55]
To combat the tampon tax, Nadia spearheads the Tampon Tax Back Coalition, collaborating with other brands to refund the tax to consumers:
"We recruited about eight other brands, created the coalition. ... we all believe, and I think this is like the magic of female founders."
[36:12]
This initiative not only challenges the unfair taxation but also fosters collaboration among competing brands for a common cause.
Navigating the for-profit landscape while maintaining ethical standards is a recurring theme. Nadia discusses the importance of aligning with like-minded investors and turning down funds that don't match their values:
"If an investor thinks that's stupid, you know, impact is not the goal or impact shouldn't be part of the goal. They just aren't the right investors for us."
[38:18]
She highlights the shift in consumer expectations, especially among Gen Z, towards supporting brands with genuine social responsibility:
"We aren't the first brand at all to do this whole, you know, buy tampons, we donate tampons. Like that isn't new, which is exciting."
[39:53]
Vivian and Nadia explore how Gen Z consumers deeply value authenticity and social impact in their purchasing decisions. Nadia observes:
"Gen Z, Gen Alpha consumers are very skeptical... it's about how do you not tokenize it and make it a DNA part of the brand rather than like something you do for clout."
[41:59]
This generation demands transparency and genuine commitment from brands, moving beyond superficial marketing tactics.
The episode touches on Nadia's personal challenges, including her battle with burnout and mental health struggles. She openly discusses her time in rehab and its profound impact on her life and career:
"Going to rehab before the company launched was like the best thing in my life. And I think I'm like such a better founder because of it."
[28:24]
She emphasizes the importance of self-care and the balance between relentless hustle and personal well-being.
Nadia shares how her activism has transformed her own relationship with menstruation. Instead of viewing her period negatively, she embraces it as an opportunity for authentic content creation:
"When I bleed through my clothes, my first thought is not, oh, shit, I'm embarrassed. It's, oh my God, this is such good content."
[51:17]
This shift not only empowers her but also fosters a sense of community among her audience.
This episode of Networth and Chill offers a comprehensive look into the intersection of personal experience, social activism, and entrepreneurship in the context of menstrual health. Nadia Okamoto's journey from witnessing period poverty to founding a purpose-driven company underscores the importance of aligning business practices with ethical values. The discussion also highlights the evolving expectations of consumers, particularly Gen Z, who seek authenticity and genuine social impact from the brands they support.
By addressing systemic issues like the tampon tax and advocating for accessible menstrual products, both Vivian and Nadia emphasize the critical need for societal change. This episode serves as an inspiring blueprint for combining financial acumen with social responsibility to create meaningful and sustainable impact.
Notable Quotes:
"I was very lucky. Cause I grew up with a single mom and two sisters, so we had an all-girl household."
- Nadia Okamoto [04:06]
"The tampon tax is not going to solve period poverty because it's affecting people who already buy period products. But it does make a difference."
- Nadia Okamoto [32:36]
"If an investor thinks that's stupid, you know, impact is not the goal or impact shouldn't be part of the goal. They just aren't the right investors for us."
- Nadia Okamoto [38:18]
"When I bleed through my clothes, my first thought is not, oh, shit, I'm embarrassed. It's, oh my God, this is such good content."
- Nadia Okamoto [51:17]
This summary captures the essence of the episode, providing insights into the challenges and triumphs associated with menstrual health advocacy and socially conscious entrepreneurship. For those interested in the nuances of how personal experiences can drive impactful business ventures, this episode offers valuable perspectives.