The Goal Digger Podcast

Episode 907: The Hidden Price of Being a Woman in Business (And Why You’re Not Imagining It)

Host: Jenna Kutcher
Guest: Anna Gifty (economist, author of The Double Tax)
Date: August 25, 2025

Episode Overview

This episode dives into the “double tax” facing women, especially women of color, in entrepreneurship and business. Host Jenna Kutcher and guest Anna Gifty, a Harvard-trained economist and author, break down the compounding effects of sexism and racism on access to capital, wealth-building, workplace dynamics, and caregiving burdens. Anna offers clear data, lived experiences, and actionable solutions, aiming to empower listeners to recognize real barriers—backed by evidence—and build community-driven strategies to push back against these systemic inequalities.

Key Discussion Points & Insights

1. Understanding the Double Tax

Timestamps: 05:21 – 11:57

• Definition: The “double tax” is the compounded cost of racism and sexism. Women (and particularly women of color) encounter overlapping obstacles that make every step in business more expensive—literally and figuratively.

  • “The double tax is the compounded cost of racism and sexism.” – Anna Gifty (05:38)

• Venture Capital Landscape:

  • White men are overrepresented as decision-makers in funding (58% of VC investors, but just 30% of national population).
  • White women are underrepresented (11% of VC investors).
  • Women of color are severely excluded (only 7% of VC investors).
  • Anna’s Take: This underrepresentation curtails which businesses and products are funded and who they serve, creating massive missed opportunities and perpetuating inequity.
    • “There's a huge missing market here that businesses are not even being able to tap into because they can't even get the money...” (08:23)

• Illustration: If products are only funded for majority groups, broadly useful innovations (like ramps for disability access) may never exist or take longer to develop.

2. How Inequality Begins Early and Compounds

Timestamps: 11:57 – 17:30

• Personal Story: Anna shares how moving from low-income housing in Maryland to elite private schools highlighted the vast gaps in resources and opportunity. This early exposure made her passionate about uncovering and sharing the truths behind systemic inequality.

• Mission: Her book, "The Double Tax," collects these scattered data points into one place, so people facing systemic disadvantage can see that their struggles are systemic (and not personal failings), and find tools for advocacy.

  • “If we want a world that's more fair... we have to be on the same page about the facts.” (16:16)

3. The Hidden Truths About Wealth Building

Timestamps: 21:13 – 28:03

• Different Starting Lines: Wealth in America is unevenly distributed because of compounding historical inequities.

  • “People have different wells of wealth they’re pulling from.” (21:13)

• Stark Stats:

  • For every $1 of wealth a white man has:
    • White women: $0.78
    • Hispanic women: $0.14
    • Black women: $0.08
  • The racial wealth gap has narrowed only slightly since the 1800s.

• Capital Begets Capital: Those who already have wealth can invest and grow it. That’s a structural advantage—not an individual failing.

  • “Perhaps it's because of the well of wealth that you even get to pull from.” (26:38)

• Takeaway: Stop blaming yourself for not starting at the same place as others. Community and collective strategy are key:

  • “If you can't get individual wealth to push you forward, get collective wealth, start pushing into that, pull resources, use that as a catalyst. Because no one is self made here.” (27:30)

4. The Caregiving Double Bind

Timestamps: 28:53 – 37:28

• Motherhood Penalties: Motherhood and caregiving are costly in both time and income. Society expects women to care for others while punishing them professionally for doing so.

  • “Women are punished for choosing motherhood and also for not choosing it.” (29:33)

• Policy Solutions: Push for paid family leave and robust child tax credits—policies that exist elsewhere but are under-implemented in the US.

• Community Solutions:

  • Practically, form support networks with other women entrepreneurs to share childcare and business burdens. The Western “every family on their own” mindset is less sustainable than collective effort.
  • African proverb: “If you want to go fast, you go alone. But if you want to go far, you go together.” (36:59)

5. Moving from Surviving to Solving Inequality

Timestamps: 40:27 – 49:57

• Beyond Surface Solidarity:

  • “When we say get into community, what we don’t mean is post black squares... showing that you care and actually caring are two different things.” (41:08)
  • Be present for the women in your life—ask how you can help and be willing to ask for support yourself.

• Action Steps for Change:

  • Support women-focused foundations—donate, volunteer, advocate.
  • Defend diversity funding and policies (since cuts usually hurt all women, not just women of color).
  • Embrace radical transparency among women entrepreneurs. Discuss deals and funding openly; don’t let secrecy perpetuate underpayment.
    • “Transparency is your best friend. Because if you’re able to be in community and talk to people... you actually lift up the tide for everyone.” (47:27)

6. The Self-Made Myth Debunked

Timestamps: 50:15 – 54:04

• No One is Self-Made:

  • “Anybody who says, I did this on my own is a liar.” (50:15)
  • Every success relies on teams, networks, and support systems—don’t buy into the isolation myth or let it keep you from asking for help or sharing credit.

• Community Is Everything:

  • Anna emphasizes that real, lasting success comes from acknowledging and supporting the community that lifts you up.

Notable Quotes & Moments

• On the missing market in VC funding:

  • “The gag of the matter is our lived experiences inform whether or not we place value on certain things... there's a huge missing market here that businesses are not even being able to tap into...”
    – Anna Gifty (08:23)

• On the necessity of collective action:

  • “No one is self made here.”
    – Anna Gifty (27:30)

• On the caregiving bind:

  • “Motherhood is really, really hard. It's harder than anybody is willing to say out loud. Society puts it on women and then simultaneously punishes women for it.”
    – Anna Gifty (28:58)

• On practical solidarity:

  • “It means leading with empathy and understanding that in some cases your experience is not going to be the center of attention. And sometimes it’s not even the best benchmark for how we should progress.”
    – Anna Gifty (41:30)

• On transparency in business:

  • “If you don't want to suffer in silence, you gotta talk. At least in the business world, you have to talk.”
    – Anna Gifty (48:56)

• On the myth of being self-made:

  • “Anybody who says, I did this on my own is a liar. And I need you to, I need you to hear me when I say that they're lying to you...”
    – Anna Gifty (50:15)
  • “I'm not [doing this]. We're doing this. It's a huge community that's backing me right now.”
    – Anna Gifty (51:58)

Actionable Takeaways

• Recognize and Trust the Data: If you feel business is harder for you as a woman (especially a woman of color), you are NOT imagining it.
• Push for Policy Change: Advocate for paid family leave; support child tax credits and those pushing for equitable policy.
• Practice Transparency: Share financial deals, job information, and resources with other women to collectively raise industry standards.
• Rebuild Community: Invest time and effort in mutual aid, resource sharing, and interdependence—don’t isolate yourself.
• Support Women-Focused Initiatives: Fund, promote, and engage with organizations that uplift women entrepreneurs.
• Reject the “Self-Made” Myth: Recognize your support system and let others lean on you in return.

Where to Find Anna Gifty

• Book: The Double Tax (details on her website, anagifty.com)
• Social: @itsafronomics (Instagram, BlueSky)
• Website: anagifty.com
• On tour (US and UK)

Timestamps for Major Segments

• 05:21: What is the Double Tax? Access to Capital & Representation
• 11:57: Anna’s Personal Journey & Motivation
• 21:13: Wealth Gaps and the Realities of Building Capital
• 28:53: The Penalty of Caregiving & Solutions
• 36:59: African Proverb on Community
• 40:27: How to Solve, Not Just Survive, Inequality
• 41:08: What Real Community Looks Like
• 47:27: Radical Transparency & Sharing Resources
• 50:15: The Self-Made Myth Is a Lie
• 54:04: Acknowledging the Community That Lifts Us

Closing Message

This episode empowers listeners to acknowledge the invisible and visible costs of being a woman (especially a woman of color) in business—NOT as a weakness, but as a foundation for collective change and real advocacy. The tools and policies Anna outlines, along with the call for deep community-building and active solidarity, offer hope and a path toward a more equitable business landscape.