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Executive women platform Chief opened a new clubhouse in San Francisco this week.

Chief

In a bustling building in New York’s Flatiron district, two executive women who work at separate companies discuss marketing strategies for their respective businesses. Next to them, three retired women in their sixties share a champagne toast. Across the room, several other women, sitting at single wooden tables, have their heads down at their laptops. Whitney Houston’s “I’m Every Woman” plays in the background.

“I’m in the middle of a career transition,” says one woman to another she just met at the nearby bar. She says she works for Cushman & Wakefield but plans to change careers from her job in human resources.

“I’ve done big companies for far too long and I think it’s time to move on to something smaller,” she continued. “Covid did us all in,” the other woman said, agreeably nodding.

It may sound like a typical professional networking environment but one thing about this building is different: there’s not a single man in sight.

‘Sense that this is a first’

Chief’s San Francisco clubhouse includes a full-service bar.

The recently-opened clubhouse is located adjacent to the Transamerica Pyramid in San Francisco’s financial district. Silicon Valley had the highest demand from members, said founders Lindsay Kaplan and Carolyn Childers. The region is home to 2,000 local members working for Apple, Meta, Google, Microsoft, Salesforce, Zoom and Stanford among others.

The 8,600 square-foot space features a full-service bar with specialty coffee, open lounge space, meeting rooms, private call booths and a Mothers Room. All the artwork in Chief’s clubhouses comes from the women-led company Uprise Art, founded by member Tze Chun.

Over 300 members attended the launch event at the San Francisco clubhouse. Members flew in for the clubhouse opening night in late October. Some arrived straight from the airport. “So exciting!” one woman rolling a suitcase said as she greeted Childers and Kaplan with hugs. “I’ve f—–g earned this,” Kaplan recalled another saying.

Susan Cevallos Coleman, a global vice president at GoPro attended the opening night. “I just looked around and had a moment,” Coleman said.

“You have the profound sense that this is a first,” said Attica Jaques, Global Head of Brand Marketing at Google who also attended the opening night.

‘Full Circle’

A month after the San Francisco Chief club’s opening, women say they already see it as a milestone moment that represents more than just a new building.

Silicon Valley has historically had the highest density of homogeneous demographics that favored white men in executive ranks. It’s also historically been unfriendly to women as exclusionary “boys clubs” long overtook the world’s tech epicenter. Unlike other nearby clubhouses like the Battery, Chief’s new clubhouse is a place designed just for them.

“I know deeply the feeling of the tech industry led by white men,” Jaques said. “It’s interesting coming full-circle and it feels long overdue.”

Executive women platform Chief opened a new clubhouse in San Francisco this week.

Chief

Jaques, a San Francisco native who moved back to San Francisco from New York in 2019, said “we tend to always feel like we have to pull up a seat at the table if it’s not there, so we’ve built a muscle around it.”

Coleman added: “The women who have somehow, some way made it to where we are now, can now influence the younger women who may be hesitant to dip their toes in the lake because what they read is it may not be a friendly place for them.”

“But when I walk into the Chief space, that premise that tech is exclusionary no longer feels true,” she said.

Coleman, who’s spent her career working in tech auditing in Silicon Valley since the early 2000s at Sun Microsystems, said she’s looking forward to using the space as a central meeting place for her core group of Chief members dispersed across the Bay Area. Jaques said she’s looking forward to networking happy hours and programming speakers. The platform hosted a virtual event with speaker Melinda French Gates in early November when around 2,000 Chief members tuned in.

“This is the physical manifestation of what I’ve been benefitting from,” Coleman said after the opening. “I saw so many amazing women, including one I worked with three companies ago.”

The Covid-19 pandemic bolstered Chief’s business as women flocked to Chief’s platform, which served as a support system during a time of solitude, members said. More than 20,000 senior executives have signed on from over 8,500 companies including HBO, American Express, Nike, Google, Goldman Sachs, NASA and Apple. Annual membership starts at $5,800 for women at the vice president level and $7,900 for C-suite executives. About 70% of members are sponsored by their employers.

With backing from Alphabet’s venture arm and a business model that relies on subscription to its digital platform, it’s more sustainable than a real-estate-focused business like The Wing, which was forced to close its doors over the summer.

The platform has a massive waitlist of 60,000 people, but Childers and Kaplan say they should be able to start vetting applicants more quickly now that the company has additional money to hire people and build out the technology.

Less ‘pantsuits and bad cheese plates’

Kaplan briefly worried about a dusty rose art piece at the center of the main San Francisco clubhouse room. “We might have to change that,” she remarked. “It’s kind of pink. I just don’t want it to be like ’this a space for women and this is pink.'”

“So often, executive spaces for women look like a space full of pantsuits and bad cheese plates in the corner but we’re in a moment where we can redefine what it looks like,” she added.

A large open floor plan with leather couches and chairs and high ceilings with bookshelves makes it feel more like a living room for casual, serendipitous interactions, members said.

Bathrooms have brushed gold finishes on faucets and around mirrors. Marble countertops lie under Chief-branded disposable towels by each sink while low-volume music plays overhead. The bar features a mid-century modern design with wooden paneling and a large chandelier made of hundreds of glasses.

The space has several “phone booths” with ring lights built in for Zoom meetings. A room on the other side of the main space is much lighter with eggshell-colored walls, a grand piano, and plush white lounge chairs that appear like furniture from a spa.

“There’s a relaxed atmosphere, no competition,” Coleman said. “We’re just finding ways to support one another.”

“It’s a beautiful space to accompany this feeling that things are profoundly changing,” Jaques said. “Being able to walk and have a new space that you feel welcomed in and meeting other women is going to be incredible and it just feels like there’s no going back to what was before.”

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These underperforming groups may deliver AI-electric appeal. Here’s why.

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These underperforming groups may deliver AI-electric appeal. Here's why.

Reshoring and infrastructure products could be the next ETF play after AI, say ETF experts

Industrial and infrastructure stocks may soon share the spotlight with the artificial intelligence trade.

According to ETF Action’s Mike Atkins, there’s a bullish setup taking shape due to both policy and consumer trends. His prediction comes during a volatile month for Big Tech and AI stocks.

“You’re seeing kind of the old-school infrastructure, industrial products that have not done as well over the years,” the firm’s founding partner told CNBC’s “ETF Edge” this week. “But there’s a big drive… kind of away from globalization into this reshoring concept, and I think that has legs.”

Global X CEO Ryan O’Connor is also optimistic because the groups support the AI boom. His firm runs the Global X U.S. Infrastructure Development ETF (PAVE), which tracks companies involved in construction and industrial projects.

“Infrastructure is something that’s near and dear to our heart based off of PAVE, which is our largest ETF in the market,” said O’Connor in the same interview. “We think some of these reshoring efforts that you can get through some of these infrastructure places are an interesting one.”

The Global X’s infrastructure exchange-traded fund is up 16% so far this year, while the VanEck Semiconductor ETF (SMH), which includes AI bellwethers Nvidia, Taiwan Semiconductor and Broadcom, is up 42%, as of Friday’s close.

Both ETFs are lower so far this month — but Global X’s infrastructure ETF is performing better. Its top holdings, according to the firm’s website, are Howmet Aerospace, Quanta Services and Parker Hannifin.

Supporting the AI boom

He also sees electrification as a positive driver.

“All of the things that are going to be required for us to continue to support this AI boom, the electrification of the U.S. economy, is certainly one of them,” he said, noting the firm’s U.S. Electrification ETF (ZAP) gives investors exposure to them. The ETF is up almost 24% so far this year.

The Global X U.S. Electrification ETF is also performing a few percentage points better than the VanEck Semiconductor ETF for the month.

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How tariffs and AI are giving secondhand platforms like ThredUp a boost

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How tariffs and AI are giving secondhand platforms like ThredUp a boost

At ThredUp‘s 600,000-square-foot warehouse in Suwanee, Georgia, roughly 40,000 pieces of used clothing are processed each day. The company’s logistics network — four facilities across the U.S. — now rivals that of some fast-fashion giants.

“This is the largest garment-on-hanger system in the world,” said Justin Pina, ThredUp’s senior director of operations. “We can hold more than 3.5 million items here.”

Secondhand shopping is booming. The global secondhand apparel market is expected to reach $367 billion by 2029, growing almost three times faster than the overall apparel market, according to GlobalData.

President Donald Trump’s tariffs were billed as a way to bring manufacturing back home. But the measures hit one of America’s most import-dependent industries: fashion.

About 97 percent of clothing sold in the U.S. is imported, mostly from China, Vietnam, Bangladesh and India, according to the American Apparel and Footwear Association.

For years, Gen Z shoppers have been driving the rise of secondhand fashion, but now more Americans are catching on.

“When tariffs raise those costs, resale platforms suddenly look like the smart buy. This isn’t just a fad,” said Jasmine Enberg, co-CEO of Scalable. “Tariffs are accelerating trends that were already reshaping the way Americans shop.”

For James Reinhart, ThredUp’s CEO, the company is already seeing it play out.

“The business is free-cash-flow positive and growing double digits,” said Reinhart. “We feel really good about the economics, gross margins near 80% and operations built entirely within the U.S.”

ThredUp reported that revenue grew 34% year over year in the third quarter. The company also said it acquired more new customers in the quarter than at any other time in its history, with new buyer growth up 54% from the same period last year.

“If tariffs add 20% to 30% to retail prices, that’s a huge advantage for resale,” said Dylan Carden, research analyst at William Blair & Company. “Pre-owned items aren’t subject to those duties, so demand naturally shifts.”

Inside the ThredUp warehouse, where CNBC got a behind-the-scenes look. automation hums alongside human workers. AI systems photograph, categorize, and price thousands of garments per hour. For Reinhart, the technology is key to scaling resale like retail.

“AI has really accelerated adoption,” said Reinhart. “It’s helping us improve discovery, styling, and personalization for buyers.”

That tech wave extends beyond ThredUp. Fashion-tech startups Phia, co-founded by Phoebe Gates and Sophia Kianni, is using AI to scan thousands of listings across retail and resale in seconds.

“The fact that we’ve driven millions in transaction volume shows how big this need is,” Gates said. “People want smarter, cheaper ways to shop.”

ThredUp is betting that domestic infrastructure, automation, and AI will keep it ahead of the curve, and that tariffs meant to revive U.S. manufacturing could end up powering a new kind of American fashion economy.

“The future of fashion will be more sustainable than it is today,” said Reinhart. “And secondhand will be at the center of it.”

Watch the video to learn more.

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AI anxiety on the rise: Startup founders react to bubble fears

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AI anxiety on the rise: Startup founders react to bubble fears

Markets were on edge this week as a steady stream of negative headlines around the artificial intelligence trade stoked fears of a bubble.

Famed short-seller Michael Burry cast doubt on the sustainability of AI earnings. Concerns around the levels of debt funding AI infrastructure buildouts grew louder. And once high-flyers like CoreWeave tanked on disappointing guidance.

CNBC’s Deirdre Bosa asked those at the epicenter of the boom for their take, sitting down with the founders of two of the buzziest AI startups.

Amjad Masad, founder and CEO of AI coding startup Replit, admits there’s been a cooldown.

“Early on in the year, there was the vibe coding hype market, where everyone’s heard about vibe coding. Everyone wanted to go try it. The tools were not as good as they are today. So I think that burnt a lot of people,” Masad said. “So there’s a bit of a vibe coding, I would say, hype slow down, and a lot of companies that were making money are not making as much money.”

Masad added that a lot companies were publishing their annualized recurring revenue figures every week, and “now they’re not.”

Navrina Singh, founder and CEO of startup Credo AI, which helps enterprises with AI oversight and risk management, is seeing more excitement than fear.

“I don’t think we are in a bubble,” she said. “I really believe this is the new reality of the world that we are living in. As we know, AI is going to be and already is our biggest growth driver for businesses. So it just makes sense that there has to be more investment, not only on the capability side, governance side, but energy and infrastructure side as well.”

Watch this video to learn more. 

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