Lessons from the Next Generation's Leaders

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December 21, 2019

Earlier this month, we descended on Laguna Niguel, Calif., for FORTUNE'S Most Powerful Women Next Gen Summit. The event brought together fascinating women in philanthropy, the arts, business, politics and education. We heard from top execs at Microsoft, Palantir, GoldieBlox and Lily AI, as well as from a mentee of Warren Buffett, professional surfers and a Grammy-nominated singer.

▪ BRINGING TOGETHER WOMEN

One of our most anticipated sessions featured Know My Name author Chanel Miller, who talked about surviving and rebuilding in the wake of sexual assault. We also covered how to perfect your pitch, beating imposter syndrome, the rise of Gen Z and how to land—and maximize—your first board seat.

If you missed the event, here are some takeaways. If you made it, thanks for joining us. We hope you enjoyed it.

▪ 13 INSIGHTS

1. Goldman Sachs removed one word from recruiting materials and saw female hires soar. Now half of the merchant banking division is female at every level, from partner to analyst, before a big team merger.

2. For a long time, Emily Doe was a separate, distant identity for Chanel Miller. The Stanford sexual assault survivor shared her story on stage.

3. Focusing too much on share price and products can make you lose track of what’s important. “You aren’t spending time thinking about customer outcomes,” said Microsoft US President Kate Johnson.

4. When there's a big problem, Stitch Fix employees gather for a “blameless post mortem.” “You bring everyone into the room and the rules are there are no rules—no pointing fingers," Stitch Fix chief technology officer Cathy Polinsky told the audience.

5. Grace Potter thought she would never make music again. The Grammy-nominated singer and actress explained how divorce and a painful miscarriage stalled her, and how key advice led to a decision to ultimately release new music again.

6. Career pivots are daunting. Executives shared how big career changes required leaps of faith, overcoming doubts and fear, and learning how to be their own advocates.

7. People may be the most critical thing in turning around a company. "Do you have the right people? If not you have to find them, and create a culture and strategy with them," says Tracy Britt Cool, a protégé of Warren Buffett.

8. The key to a great VC pitch isn't just about numbers. It's about explaining why you are uniquely positioned to develop the company, a panel of experts said.

9. Systemizing human courage is key to inclusive workplaces. “People don’t want to ask questions because they’re afraid, and we need brave spaces where we can have real dialogue as people," said Dara Treseder, chief marketing officer of digital manufacturing company Carbon.

10. Pregnant athletes lose their paychecks. Alysia Montaño, the Olympian and seven-time USA 800 meter champion, risked legal action when she talked on the record earlier this year about equal pay.

11. Immigrant founders of million dollar startups struggle to stay in the U.S. And more than 51% of unicorns have at least one founder who is an immigrant.

12. Crying at work is okay. A panel of C-suite executives said owning vulnerability and learning how to turn it into power and clarity is a unique trait that women can use to their advantage.

13. The job of general counsel at tech companies is becoming more powerful and wider in scope. Approximately 93% of them are now members of the executive management team—almost a 10% increase from 10 years ago.

Special thanks to our partners Accenture, College Board, Goldman Sachs, Herman Miller, Tamara Mellon, Toyota, and Uber.

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