Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart
Adapted from Carta; Chart: Andrew Witherspoon/Axios

Female entrepreneurs have less equity in their own companies than do male entrepreneurs, according to a new report from Carta.

Why it matters: This directly contributes to the gender wealth gap.

By the numbers:

  • Women represent 13% of startup founders but own just 7% of founder equity.
  • Women make up 34% of startup employees but hold just 20% of startup employee equity.
  • Female employees are 31% of all equity owners, but hold just 6% of total startup equity.
  • Women are only 20% of equity holders worth at least $1 million, 15% of those with $10 million or more, and only 12% of those with $100 million.

Between the lines: “What we hypothesize is that within founding teams, not everyone gets the same amount of equity,” Carta marketing chief Emily Kramer tells Axios.

  • Other possible explanation include female founders selling bigger stakes to investors than do their male peers, and creating bigger employee options pools.

Women also are under-represented among startup employees with large equity grants.

  • CEOs get more than twice as much equity as the next highest compensated executive, yet only 13% are women.
  • In the C-suite, women are most represented among chief marketing officers (32%) but it’s the position with the lowest median equity.
  • Junior and mid-level engineers receive more than twice as much equity as other employees, yet women only make up 20% of entry-level engineers and that percentage decreases with seniority.

Go deeper:

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.