Impact Edition: Emporio Magazine Volume 1

EMPORIO EMPORIO impact edition

NON-FUNGIBLE TOKENS Page 5- A general overview and an environmental context

THE COSTLY HEARTBEAT ACT

JEEJI-HOOD Page 9- A story of young Hockaday entrepreneurs creating opportunity for women overseas

THE HOCKADAY SCHOOL

Page 7- The Texas Heartbeat Act and its economic repercussions

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Editors' Letter OUR Team Editors-In-Chief Liya Chen & Celine Ebert Design Editor Anna Crook Creatives Emily McShane Writers Sanika Agarwalla Siddhi Bansal Sophia Clavenna Rayna Li Nadia Sethuraman Faculty Sponsor Sara Harder

Our Mission Motivated by our passion for business, we created a publication covering news, information, and inspirational stories about women leaders in the global world of business and nonprofit organizations. With this inclusive publication platform, we will build a community that will

Only 15% of the Fortune 500 CEOs are women.

Women earn 84% of what men earn.

Men hold 63% more manager positions than women.

Did those statistics disappoint you? Upon seeing them, we couldn’t help but shake our heads in frustration. Welcome to Emporio. Exactly one year ago, Emporio was just an idea, an impulsive thought, a mission waiting to be pursued. What began in the midst of summer boredom began to evolve into initiative—we were going to satisfy the information deficit and (hopefully) encourage like-minded peers to pursue careers in the male-dominated industry of business. Emporio means “commerce” in Greek, and we strive to capture the aspects of trade, business, finance, communication, and production that the word emporio encompasses.

For our first issue, we wanted to explore the idea of Impact. Derived from Latin “impactus,” impact, meaning to push into, drive into, or strike against, holds the same meaning as thousands of years ago, withstanding the test of time. A couple millenia later, we today want our innovations to sustain a positive, lasting impact on our communities, hence the genesis of the Emporio Impact Edition. After experiencing the pandemic, we've realized the impact that a single spark—whether a person, event, or idea—can bring about. And from the conception and creation of our student-led magazine, we hope to empower young women in business far beyond our own community.

Most of all, we would like to thank our dedicated team, who worked tirelessly throughout the production of this first issue. To Anna, Emily, Sanika, Siddhi, Sophia, Rayna, and Nadia: your incredible dedication and visionary minds never cease to amaze us. To Mrs. Harder: your constant support has pushed us through thick and thin. And to our readers: we hope you enjoy this issue and continue to read our publication. Thank you for supporting our mission.

Liya Chen '23 and Celine Ebert '25

explore issues, exchange ideas, and share voices.

Statistics from: WeForm, PewResearch, AmericanProgress

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TABLE OF CONTENTS 03 | A CITIZEN'S DUTY How Indonesia's Sintesa Group approaches environmental conservation when the government refuses to act

05 | NON-FUNGIBLE TOKENS A general overview and an environmental context

07 | THE COSTLY HEARTBEAT ACT The Texas Heartbeat Act and its economic repercussions

09 | JEEJI-HOOD A story of young Hockaday entrepreneurs creating opportunity for women overseas

11 | CUSTOMERS FIRST The success of Amazon's customer-centric business model

13 | A LOOK Into the history of working women

16 | HIT HARD The impact of the COVID-19 recession on women in the workforce

17 | BAIT & HOOK The intentional addictiveness of social media

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A CITIZEN'S DUTY How Indonesia's Sintesa Group approaches environmental conservation when the government refuses to act Famine. Devastation. Rising Sea Levels.

Politicians and activists across the world

Indonesia’s Sintesa Group, a strategic

continuously stress the world's most pressing issue:

investment company, is taking action, adopting

climate change. The time for change is now, yet it

an eco-conscious business model and investing in

seems that countries such as the United States, with

sustainable industries and businesses. CEO of the

the financial means to implement transformation

company, Shinta Widjaja Kamdani, combats the

fail to do so. All over the world countries that

effects of climate change and paves the way for

produce considerable amounts of carbon emissions

other woman-owned organizations to do the same.

refuse to execute large scale changes for green

Unlike providing aid in face of humanitarian

infrastructure and renewable technology. So, what

disasters, their eco-friendly investments are a more

impacts a country’s ability to curb climate change?

long-term solution for resisting global warming.

Sintesa's investments range from industrial

Factors such as political stability, centralized

products to energy; they also hope to implement

government, and financial capacity all help enable

corporate governance in response to both world

effective response to global warming. Largely due

business dynamics and climate needs.

to deforestation, Indonesia is the fifth largest emitter of carbon emissions in the world, yet the

They currently operate a 110 megawatt gas and

country’s leaders refuse to implement greater

steam-powered plant in South Sumatra, and

change because of possible economic loss. Where

Kamdani states, “Right now, [we are involved]

their government has failed them, every day,

more in gas and geothermal” for renewable

private companies are not so easily

technology development.

discouraged when it comes to forcing an impact for environmental change.

04 Kamdani has endorsed numerous subcategories and programs that respond to the increasing needs of Indonesians. For example, they have a program focusing on alleviating urban food insecurity through eco-tourism. Some of Sintesa's future goals include encouraging responsible water management, energy consumption, and production, which the company hopes to realize through more partnerships with other companies. In the workplace, they are striving for greater gender empowerment and equality. Where national governments and international organizations have failed to act, companies like the Sintesa Group enforce new standards for green businesses. Providing their community with environmentally conscious alternatives results in incredible change.

While choosing to only invest in sustainable companies, the Sintesa Group is still able to generate

"Eco-friendly investments are a more long term solution for resisting global warming" revenue; more and more consumers each year are becoming aware of the ensuing climate problem, choosing to engage with eco-friendly businesses. From big companies like Sintesa to individuals like customers, anyone can help

"We do business well with the impact on the planet in mind.

For a better world.

For a better generation.

People, planet, profit."

-Shinta Widjaja Kamdani

reduce the impact of global warming. Whether through sustainable consumership or other acts of activism such as protesting and encouraging legislative action, citizens should be inspired to call for action themselves. The inactivity of governments should not deter us from making change. Volunteer at a cleanup, start a compost pile, anything! Seemingly insignificant acts of progress can work wonders to shape the future of the world.

WHAT CAN YOU DO

TODAY?

1) Challenge yourself and participate in activities you truly care about. This will help you find people similar to you, with whom you can collaborate to form alliances and foster passions.

2) Take tangible action—start a club, conduct research, apply for jobs. Have a clear vision, believe in yourself, and take risks to try something new!

3) Contact nearby organizations and partner with them to impact your local community.

4) Analyze problems around you and think about what you can do to solve them efficiently and efficaciously.

Photos by: Nuno Marques, Sintesa Group Story by: Sophia Clavenna

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NON-FUNGIBLE TOKENS

A general overview and an environmental context

What's an NFT? If you’re interested in cryptocurrency, you’ve

How do NFTs gain and lose value?

Like other collectibles and art, NFTs attribute

probably heard of NFTs. You may have seen them

their value to rarity and scarcity. If a certain NFT is

in the form of gifs or digital artwork, but what

produced by an in-demand vendor, such as a

exactly are they? By definition, NFTs are non-

popular company, that NFT would have more value

fungible tokens. Non-fungible means that the

than others. These virtual collectibles attain value

token is unique and cannot be exchanged. For

through speculation of the masses. When someone

example, if you and your friend both had one $20

sells an NFT, its resale value all rests in the hands of

bill traded bills, neither of you would earn or lose

consumers; in other words, the item is only worth

any money—currency is fungible. However, if you

what someone is willing to pay for it. For example,

both owned random NFTs and swapped them, you

let’s say you bought a limited-edition NFT of a

would now have completely different items with

rookie baseball player for $100, and the athlete

vastly different attributes than the NFT you had

became world-renowned over the course of ten

before—NFTs are non-fungible.

years. Over this decade, the resale value of your NFT would increase exponentially because NFT

You might think, “What’s stopping me from

consumers would be willing to pay more for the

screenshotting the image?” Nothing, really! Anyone

famous, one-of-a-kind token. However, if that

can view the media and make copies of it. It’s like

baseball player lost popularity due to a scandal,

snapping a photo of the Mona Lisa. You can view it

your NFT might lose its appeal to the masses, and

all you want, but you do not own the rights to the

the decreasing speculated price would cause a

painting. Similarly, purchasing an NFT means

plummet in value.

owning the original piece, which has a unique ID connected to it on the blockchain, a type of decentralized, digital database. The number on the blockchain ascertaining the authenticity of collectibles is what NFT owners really buy. And because of the nature of blockchains, it is impossible to duplicate any NFT.

Topps NFT baseball cards are worth up to millions.

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How did NFTs gain popularity?

With the eruption of cryptocurrency around

How do NFTs impact the environment?

Although NFTs seem to provide a perfect

2013, NFTs soon came into the picture as a new type

creative outlet and market for up-and-coming

of crypto asset. Consumers already involved in

digital artists, they also carry harmful

cryptocurrency trading began to experiment with

consequences that must be considered. NFT

NFT trading. The NFT market quickly gained

mining commonly uses the proof-of-work

traction after the emergence of Counterparty, an

method, an energy inefficient consensus

open-source trading platform built on the

mechanism. In fact, Investopedia states that the

blockchain. Counterparty provides users a safe,

minting of a single NFT consumes about 260

decentralized method to buy and sell digital

kilowatts of electricity, which equates to nine days'

collectibles. On May 3, 2014, Kevin Mccoy’s Quantum

worth of electricity for an average American

became the first NFT ever and sold at the staggering

household. Purchasing one NFT on Ethereum, a

price of 1.4 million dollars. Following Mccoy’s

blockchain platform, produces around 150

success, many digital artists began to create their

kilograms of carbon dioxide, and the company

own artworks and to sell as NFTs. Slowly, consumers

conducts over 10,000 transactions daily.

started to trade all sorts of digital media as NFTs, such as trading cards or virtual cats. In 2018, the popularity of NFTs reached an all-time high when Kevin Abosch sold The Forever Rose.

Does eco-friendly NFT trading exist?

As the NFT market continues to expand, carbon emissions will not abate, but novel solutions are slowly arising. Some proof-of-work NFT miners use energy from renewable sources such as solar power or wind-generated electricity.

Other miners use the proof-of-stake method, an

Proof-of-work vs. Proof-of-stake

energy efficient consensus mechanism, to generate NFTs, resulting in a 99.95% reduction in

Both are consensus mechanisms, which confirm

total energy use. Some consumers also opt to

the legitimacy of transactions.

invest in renewable energy or climate change mitigation technology with the money earned

Proof-of-work requires greater energy

from NFT trading. These solutions, though not

expenditure because computers compete

widely implemented, can help assuage the issues

against each other to confirm transactions.

of climate change, while still allowing digital artists and consumers to produce and trade at will.

Proof-of-stake is more energy efficient because

Before purchasing, NFT consumers should

it uses randomly selected miners to confirm

consider the growing exacerbation of carbon

transactions.

emissions that NFT trading yields.

Photo from: sportingnews.com Art by: Emily McShane Story by: Liya Chen

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THE COSTLY HEARTBEAT ACT The Texas Heartbeat Act and its economic repercussions

On September 1, 2021, Senate Bill 8 (SB8), the

about half already have children, and more than

most restrictive abortion care law to date went into

half report recent disruptive life events such as

effect in Texas, sparking a flaming trail of heated

losing a job or breaking up with a partner."

controversy. The Texas Heartbeat Act (SB8) prohibits abortions after an embryo’s cardiac

Recent results from the Turnaway Study, which

activity can be detected, typically around six weeks

looked at the effects of denied abortions on

into a pregnancy. Since this ruling, clinics within a

women's lives over multiple years, showed that

hundred-mile range from Texas are reporting an

women denied an abortion had almost four times

increase in calls for appointments. Some telehealth

greater odds of a household income below the

clinics claim that more and more people are

federal poverty level and three times greater odds

requesting emergency contraception.

of being unemployed. Moreover, unwanted pregnancy also correlated to an increase in the

Kiki Freedman, the CEO of Hey Jane, a

amount of debt past due by 78%. Not only did these

company that ships abortion care medications, said

women face greater financial issues, but they also

in an interview with Healthline that their business

experienced higher incarceration rates and higher

has seen a 300 percent increase in patients seeking

risks of serious health issues. "It's an intrusion into

care from August to September. So, when a federal

people's economic lives," said Diana Greene Foster,

judge temporarily blocked Texas’ SB8 abortion law,

a professor in obstetrics, gynecology, and

Texas clinics were overwhelmed by the sheer

reproductive sciences, who led the Turnaway Study.

number of in-state patients who wanted an abortion.

However, clinics continue to proceed with caution because the statewide near ban on abortions allows retroactive lawsuits if the order is overturned. Texas law allows civil damages of $10,000 or more to anyone who successfully sues a defendant accused of performing or aiding in such an abortion.

Penalties aside, demand for abortions continues to spike, thus posing the question: what is the economic effect when women’s reproductive rights are restricted? "Many people seeking abortions already face difficult financial circumstances," said Caitlin Myers, professor of economics, "About threequarters are low-income,

"Women denied an abortion had almost four times greater odds of a household income below the federal poverty level"

08 The findings are clear: reproductive freedom

have abortions early on, in the first trimester of

and economic freedom go hand in hand. Abortion

gestation. But the point at which women find out

laws even affect issues like gender equality and

that they are pregnant to begin with varies.

equal pay. Upon the elimination of these abortion

Socioeconomic status is a factor here, too.

restrictions, women would have significantly higher participation in America’s labor force, earning more

Data on abortion access also shows a correlation

money and achieving greater feats. According to the

to educational attainment. "[Legal access to abortion

Institute for Women’s Policy Research, an additional

allows] women to finish their educations, enter

505,000 women aged 15 to 44 would enter the labor

professional occupations, increase wages, and avoid

force, and they would earn about $3 billion

poverty," said Myers. A report from the Institute of

annually, a sizable contribution to the economy.

Women's Policy Research demonstrates that

The study also found that “annual earnings for

abortion access reduces teen pregnancy,

working women aged 15 to 44 would increase by

particularly for Black women, and affords them

$101.8 billion” if restrictions on abortion were

greater opportunity to pursue further education.

removed.

Contrarily, studies show that women of color and women living in poverty are disproportionately

Making it harder to access abortions also ignores

affected by abortion restrictions.

the resources a mother might have available to her, including access to contraception, savings, or family

The policies restricting the reproductive

support. According to Foster, "When a woman is

freedom of women undoubtedly have had a

denied an abortion, we found that in the long run

significant impact on the American economy and

she is not supported by a partner or her family."

the socioeconomic power of women across the country, begging the question: should policy

"For example, a mother of two children might

makers consider these factors before passing a law?

be worried that a third child would threaten the

The unforeseen impact of the abortion laws on the

financial well-being of her existing children," Sarah

economy should prompt future lawmakers to assess

Miller, a professor of business economics and public

all possible outcomes before passing a law.

policy, said in a CNN report. Most women

This figure shows the percent of women with lower personal incomes in groups consisting of women who 1) received abortions near their limit, 2) received abortions in their third trimester, 3) were denied abortions and gave birth, or 4) were denied abortions but did not give birth (ie. miscarriage). According to this graph, "throughout the period between 1 and 5 years after seeking an abortion, turnaway–birth women were more likely than near limits to report subjective poverty—not having enough money to cover basic living expenses."

Graph from: Turnaway Study Story by: Nadia Sethuramen

09

JEEJI-HOOD

A story of young Hockaday entrepreneurs creating opportunity for women overseas COVID-19 can't stop them on their path to making an impact on women's employment in India! Anya and Myesa, two Upper School students from the Hockaday School, have started Jeeji-Hood, a company that sells handmade Indian bags. These young entrepreneurs followed their passion to make an impact. After hearing about the lack of employment for women in India from her mother, Myesa immediately called her friend Anya to share her idea for a new business. She told her about her idea to design and sell bags with Indian fabrics and to have women in India manufacture them.

These women live in Rajasthan, a state in northern India, and are part of low-income families. They work extremely hard to use their talents in craft-making to provide supplemental income. "During the pandemic, a lot of women were without jobs because the warehouses that would make such beautiful Indian clothes and designs didn't have any business," Anya said. Jeeji,

Anya and Myesa debuting Jeeji-Hood at Hockaday's Social Impact Bazaar meaning ‘older sister,’ connects Anya and Myesa to the tribal women. “We consider them to be our sisters,” Myesa said. Anya and Myesa's innovative solution helps these women provide for their families through artistic means.

Three of the Rajasthan women making bags for Jeeji-Hood

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Myesa representing Jeeji-Hood at a Women's Day celebration Their bags use the gorgeous, bright fabrics from sarees. These vibrant designs and unique textiles have a great cultural significance as it represents the rich heritage of arts and crafts India has within its states and history. The art of weaving and the dyeing of fabrics has been practiced in India since ancient times as India has been an export center for clothes and fabrics. "Displaying these beautiful Indian fabrics and these bags is just a good way to spread awareness about this employment problem," Anya explains.

Not only is Jeeji-Hood creating opportunities for Rajasthan women and warehouses, they also help broadcast the severity of the pandemic’s influence on India’s economy. In 2019 and 2020, India saw the greatest economic contraction in its entire history, with unemployment rates at around 6-8%. The

"India saw the greatest economic contraction in its entire history" They hope to expand their business and develop an even greater sphere of influence in the future. For updates on their business, check out @jeeji_hood on Instagram!

pandemic also widened the ensuing wealth disparity, causing the percentage of impoverished people on average to increase by almost 30% for their sisters in Rajasthan. For their sisters in Rajasthan, Jeeji-Hood is doing their part to provide economic opportunity.

One bag at a time, they are relieving the struggles of unemployment.

Photos by: Jeeji-Hood Story by: Celine Ebert

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CUSTOMERS

The success of Amazon's customer Twenty years ago, no one could have imagined

"The most important single thing is to focus

that they would be able to order a book online and

obsessively on the customer.” His goal is for Amazon

have it arrive at their door 24 hours later—with no

to be Earth's most customer-centric company,

shipping fee. This business model would have seemed

attracting consumers with its user-friendly website,

impossible and impractical to most entrepreneurs. But

which allows them to feel welcome and stress-free

not to Amazon’s founder, Jeff Bezos, whose practical

while shopping. Customers can browse the Amazon

imagination produced the mammoth company, one of

site almost as easily as they can browse or window-

the world’s most successful businesses. Growing from

shop in a brick-and-mortar store. Amazon's

a humble book delivery company to a revolutionary

awareness of its customers' needs has allowed the

tech empire—how did it all happen?

company to develop an unparalleled customer service platform that eliminates the need for physical

In 1994, Bezos, a former Wall Street hedge fund executive, decided to start an online book retail

sales staff, increasing Amazon’s profit margins while satisfying its customers’ desire

company. Little did he know, in just two years, his

for instant gratification. From its 24/7

business would go on to achieve multi-billion-dollar

customer service to its quick

success. Around the time that Bezos started his book

delivery system to its

retail company, several other similar vendors were in

convenient return policies,

business; however, Amazon's unique promise to deliver "any book to any reader anywhere" made it immediately stand out from the crowd. By the end of 1996, Amazon's revenue had risen to over $15.7 million dollars and went public the next year.

After beginning to sell new products such as CDs, toys and electronics, Amazon revolutionized the online-goods market allowing third-party vendors to sell their products alongside Amazon's. Eventually, Amazon acquired other companies including Zappos and Whole Foods and surpassed Walmart as the world's most valuable retailer. Today, Amazon is worth around $1.7 trillion. What unique factors contributed to Amazon’s astonishing success?

Amazon's customer-focused approach is a core aspect of what makes it so profitable. For Bezos,

Amazon does everything in its power to fulfill its clientele’s wishes.

A logic mechanism known as the Amazon Flywheel has contributed significantly to Amazon's growth. This algorithm leverages the customer's experience to attract traffic from potential buyers to

12

FIRST

-centric business model both Amazon and to its associated third-party sellers.

improve their impressive system, the company is making

Doing so improves the selection of goods and

investments in more advanced artificial intelligence that

encourages low prices. This innovation has led to cost

will improve the customer experience.

advantages due to the scale of the company's operations. In addition to maintaining a customer-

The factors that have led to Amazon’s success have

focused approach, Amazon prides itself on being a

also resulted in some controversial drawbacks for the

company that embodies innovation and growth,

company, particularly its workers’ accusations that

developing new products such as the Echo device and

Amazon drives their productivity mercilessly and fails to

finding hither to unexplored markets by thinking

account for their human needs. Building such an

outside the box.

efficient, service-oriented company has had the

A consistent, fast, and reliable shop and delivery experience is a key determinant of whether a customer repeatedly

unintended consequence of producing a culture of exploitation that treats workers like robots or automatons. Amazon’s endless acquisition of new products and markets has also had the effect of gobbling up family-owned and small businesses that cannot compete with the marketing giant’s financial leverage and enormous scale. According to Investopedia, Amazon is also "slaying," or taking business away from, large corporations such as Walgreens, CVS,UPS, and Macy's.

Despite these problems, Amazon’s level of success is unprecedented, with Prime

uses Amazon's resources. To ensure customer quality, Amazon takes control of the holding, selecting, and shipping of packages, and the innovation of Amazon Prime shipping greatly enhances the customer’s buying experience. Though complicated, Amazon's advanced logistics, innovative technology, and countless fulfillment centers drive its success. Striving to further

memberships doubling in the span of two years, between 2015 and 2017. Though some of these issues are inevitable for a growing business, at the end of the day, Amazon succeeds by focusing on the customer's needs and experiences. Amazon’s success inspires people around the world to duplicate the hard work and smart tactics that have helped this company achieve its phenomenal success.

Photo from: Unsplash.com Story by: Celine Ebert

13

A LOOK

into the history of working women

1867 THE TRAILBLAZER OF WOMEN ENTREPRENEURS Madam C.J. Walker rose from poverty at a young age and eventually became the first recorded self-made female millionaire. In the early 1890s, after trying different remedies from both her home and store for her scalp disorder, she developed the Walker Method, involving the use of heated combs with her own pomade. The Madam C.J. Walker Manufacturing Company's profits would amount to the modern-day equivalent of several million dollars.

As the Harlem Renaissance began to recognize more African American artists and leaders, Walker built an Italianate mansion she called Villa Lewaro, a popular place for many Harlem luminaries. Her entrepreneurial spirit and dedication motivated her endeavors and became an inspiration for both women and African Americans.

1914-1918 1939-1945 WOMEN'S WORK IN WORLD WARS With the absence of men in cities and towns during both World Wars, women began to assume workforce roles. The textile, medical, transportation, and engineering fields needed employees. The sudden emergence of jobs helped women step out of their comfort zones and use their capabilities in previously male-dominated fields. Slowly, women started becoming more actively involved in worker rights, politics, sports, and other aspects of society, paving the way for greater social mobility for future women.

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1963 EQUAL WAGE BENEFITS In 1963, Congress passed the Equal Pay Act of 1963, which played a pivotal role in narrowing the wage distribution gap for women. It mandated that employers provide equal wages and benefits to men and women in jobs that require “equal skill, effort, and responsibility, and which are performed under similar working conditions.” Combined with other efforts in educational and career opportunities, the Equal Pay Act has been credited with reducing the gender wage gap in the United States.

1964 NO DISCRIMINATION AGAINST GENDER IN THE WORKFORCE Title VII of the Civil Rights Act of 1964 furthered the government’s efforts to make the workforce more accessible to women. Specifically, this amendment protects employees and job applicants from discrimination based on race, color, religion, gender, and national origin.

Through Title VII, the government combatted the continuing bias that employers practiced in hiring employees, setting the scene for a more equitable workforce

A NOTE

ON THE IMPACTS OF LEGISLATION

Both, the Equal Pay Act of 1963 and Title VII of the Civil Rights Act of 1964 played an important role in giving women the confidence to step up and take initiative in the workforce.

These acts provided opportunities that aspiring women grabbed onto as a way of creating their own impact on the world around them.

15

1972 A ROLE MODEL FOR FUTURE CEOs Katharine Graham became CEO of the Washington Company, making her the first female CEO of a Fortune 500 company. As publisher of the Washington Post, she defied the US government by publishing classified Pentagon Papers about the Watergate Scandal. In 1998, Graham received the Pulitzer Prize for her memoir Personal History. Graham has become one of the most powerful women in business and an inspiration for millions of women around the globe who are looking to create an impact on the world around them.

NOTABLE FEMALE entrepreneurs

ARIANA HUFFINGTON

In May 2005, Adriana Huffington founded The Huffington Post, a news and blog site that soon became one of the most widely clicked news websites in the world. Eleven years later, she launched Thrive Global, a technology company that provides behavior change in technology. She is also the author of fifteen books.

ZHANG XIN

Zhang Xin, along with her husband Pan Shiyi, co-founded SOHO China, a prominent Chinese building development company primarily in the office and commercial sectors. As a young child, Xin was surrounded by hardships. She and her mother were sent to the countryside to work, while her brother and father remained in Beijing. As the CEO of SOHO, Xin, also known as “the woman who built Beijing,'' is one of China’s most celebrated women entrepreneurs.

KIRAN MAZUMDAR SHAW

A billionaire entrepreneur, Kiran Mazumdar Shaw is the executive chairperson and founder of Biocon Biologics Limited, a biotechnology company based in India. Initially, Mazumdar-Shaw faced discrimination and difficulties finding people willing to work under a woman. In fact, some vendors refused to do business with her unless she hired a male manager.

Biocon continues to conduct trailblazing work, one of its most notable accomplishments being the development of the world’s first orally consumed insulin product.

TORY BURCH

An American designer and entrepreneur, Tory Burch launched her self-named global apparel and accessories brand in 2004. Although she initially faced criticism and backlash, Burch did not let them deter her. She launched her first store at 257 Elizabeth Street in New York, which sold out of inventory on the first day of business! Since then, Burch has consistently been on Forbes' list of The World’s 100 Most Powerful Women. In 2015, she was the 73rd most powerful woman and 23rd on the publication's 2019 list of America's Self-Made Women.

Graphics by: Emily McShane Story by: Siddhi Bansal

16

HIT HARD

The impact of the COVID-19 recession on women in the workforce

It’s no secret that the COVID-19 pandemic caused a recession, with overall United States

They faced challenges with work/life balance, exclusion, discrimination, and poor work culture.

unemployment rates peaking at around 14.8% in 2020. All over the country, millions of citizens,

According to a survey from McKinsey &

seemingly indiscriminately, found themselves

Company, women also face greater pressure in

without work. But the data suggests that women in

the workplace. Even though women leaders

the workforce took greater blows than men from the

“spend more time than men on work that falls

pandemic.

outside their formal job responsibilities,” their work often goes unrecognized. The pandemic,

In the United States, women already fill a

with uncertainty in wages and childcare, has

disproportionately large percentage of low wage jobs.

increased the pressure working women endure,

According to Brookings, almost 50% of all working

widening the gender disparity in the workforce.

women work low hourly wage jobs, an amount

In countries with developing economies, women

almost 10% higher than men. Although there has been

face even greater degrees of stress. The labor

some progress for working women, with the wage

markets, with sparse economic opportunities,

gap slowly closing, the pandemic recession has

often favor men, sometimes outright denying

undoubtedly halted development of gender-equality

women any chance at landing a job.

in the workforce. Across many countries such as India, the United States, and Brazil, female

Although the economy has started to recover

unemployment increased at a faster rate than male

following the pandemic, many of the women who

unemployment. For example, according to the

lost their jobs two years ago have yet to return to

International Labor Organization, United States

the workforce. The Labor Department states there

women faced a 17.9% decrease in employment, while

are still 1.4 million fewer employed women than

men only faced a 13.9% decline. The staggering

before the pandemic hit, compared to just

difference in unemployment is partially due to the

500,000 employed men. Employers should take

unreliability of pandemic childcare.

action to enable women's post-pandemic career progression through improving work/life balance,

Unlike their male counterparts, many women

creating learning opportunities, and ensuring

chose to leave their jobs voluntarily because of the

unbiased raises and promotions. While gender

increasing uncertainty and steepening prices of

gaps in worldwide labor markets have undeniably

instruction for children. Brookings states that “more

made significant progress throughout the last

than 10 million (17% of all working women) rely on

decade, the COVID-19 recession creates a dip in

childcare and schools to keep their children safe

the upward trend, a hurdle that may take years to

while they work,” compared to 12% of working men.

overcome even as businesses start to regain

A majority of working women also agree that the

traction.

pandemic has impeded their career progression.

Graphics by: Anna Crook Story by: Sanika Agarwalla

BAIT & HOOK

17

The intentional addictiveness of social media

Finally completing all your assignments due the

leading you to launch the app. Once open, the app

next day, you crawl into bed, relaxing your eyes and

floods you with snaps from all your friends start to

mind after spending several hours staring at a

pop up. Another trick called the “infinite scroll”

computer screen. You check your phone to verify

allows users to access endless content without

that your alarm for the next morning is set.

having to click. Because of how quickly you can

Scrolling through your home screen, your fingers

scroll, your brain doesn’t have enough time to

stumble across the Tiktok app. Just a few minutes on

catch up with impulses, sending you down a spiral

Tiktok and then I’m going to sleep, you tell yourself,

of continuous swiping. Sean Parker, the first

but every time, these “few minutes” easily become a

president of Facebook, even admitted to designing

few hours.

an interface to consume as much user time as possible, “underst[anding]” the exploitation

Does this situation sound familiar? Or perhaps

“consciously.” Addictive app design not only draws

you recognize the detrimental effects the social

in consumers but also leads to both mental and

media industry has caused on your mental and

physical health repercussions. Prolonged use of

physical health but fail to limit your time spent on

social media is associated with negative thoughts

the apps? Apps like Tiktok, Instagram, Snapchat,

such as FOMO (fear of missing out), social activity

and Facebook dominate the social media industry.

validation, and self-worth comparison, which

For many Americans, the use of these social

exploit vulnerabilities in the human mind.

networking apps holds a spot in their daily routine,

The Child Mind Institute says

consuming time through liking strangers' posts,

that “young people seek

sharing digital stories, and watching short videos.

acceptance wherever

Being able to glimpse into others’ lives through a click of an app may seem enjoyable, but the downsides of social media often exceed the benefits.

they can find it,” and

Social media companies are intentionally designing addictive platforms, maximizing consumer use and thus, profit. To attract investors , companies must continually increase the time that their user base spends on the apps.

Social media companies implement clever techniques that incentivize constant usage. Posting on Instagram, for example, creates a desire for the user to open the app every couple of minutes to check the number of likes and comments they have received on their post. The ring of Snapchat’s “Your friend just sent a snap!” notification urges you to respond to their photo message,

social media is often the perfect platform for it. Social media is especially harmful to young women. Socalled “perfect bodies” continually appear on your feeds, establishing a certain appearance as most desirable.

According to a study led by Dr. Jennifer Mills, “social media engagement with attractive peers increases negative state body image.”

Another study shows that “88% of women compare themselves to images they observe on social

18 media, with over half of them emphasizing that the comparison is unfavorable.”

Social media use also correlates with risks of anxiety, depression, and other illnesses, endangering the 69% of adults and 81% of teens in the U.S. who use social media. Physically, staring at a phone or computer screen for hours deteriorates eyesight, body posture, and sleep schedule. On average, people aged 16 to 24 spend more than three hours browsing social media daily, which takes a significant toll on their physical health.

Negative health repercussions only seem to grow as companies continue to exploit interactive interfaces for profit.

Not only does social media usage damage your mental and physical health, but the time spent scrolling through apps eventually adds up to hours and hours each day and week. Each second spent on social media apps equates to profit for advertisers and media companies. The next time you find yourself about to click into Instagram or TikTok for a “few minutes,” stay true to your word and don’t fall into the trap of the social media industry addiction.

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Graphics by: Anna Crook Story by: Rayna Li

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