a Monday morsel from meatspace!!
Feat. an interview with Naj Austin, founder of Ethels Club
Meatspace is Lora and Sarah’s weekly digest of weird/wack/need-to-know tech news — and our warm takes on all of it. This is our (brand new) Monday edition!!
Seeing this interview on the web? Subscribe here: meatspace.substack.com
Know someone doing inclusive, interesting, and/or offbeat work in tech? Respond to this email / reach out on Insta / Twitter and hook us up! (please) (if u want)
Dear friends,
Welcome!! to the first ever issue of our new Monday edition, Morsels by Meatspace. Starting today, every other Monday we will hit you special interviews and related bites. #TGIM. (We will still send our Friday version as usual; you can read last week’s here.)
We wanted to dedicate a special place to go all in on interviews. And also to dig into related topics that may go beyond the scope of any particular weekly news cycle!
For our first feature, we are thrilled to introduce you to Naj Austin. She’s the 27 year-old founder and CEO of Ethels Club, a co-working, meeting, and gathering space designed for people of color that’s launching in Brooklyn this August. She was kind enough to speak with us over email about her company; (not) taking VC funding; Black Twitter; and more:
MEATSPACE: Ethels Club will be the first private social club created by and for people of color. Why did you feel it is so important to carve out this space?
Naj Austin: As a Black woman working in the real estate and tech space for the past four years, I often come face to face with the chronic lack of representation in the industry every day. This same deficit of genuine representation is very much reflected in many of the ‘third spaces’, including private clubs that many of us rely on for our social nucleus, professional network and cultural anchor. So, after many years of looking for this mythical place that centered POC-identity, arts, culture and community, and failing to find it, I took my background in hospitality startups and real estate fintech and created it.
Before launching Ethels Club, what are spaces and communities — both physical and even virtual — in which you’ve felt supported and inspired?
My childhood home and my family were definitely the original safe space. It’s where I learned how to be a Black woman and what that means in the world we all live in. As I’ve gotten older, it definitely leans more digitally. I find comfort in Black Twitter and Slack channels for underrepresented founders. It’s always nice to know that you’re not alone even though it can often feel that way.
Ethels Club's motto is “for us by us.” How has that shaped (and how will it shape) your approach to launching the social club - from the membership application to the events and services to the feeling of the space itself?
Ethels Club does not purposely exclude people who do not identity as a person of color from applying. Our focus and intentions are PoC-centered and we want to make sure that that dynamic is always understood, validated and celebrated. This is a space for brown and black voices, which are so often marginalized, to be heard. We also understand that more often than not people of color work, partner, and collaborate with people who do not identify as such, so we welcome all guests of any background.
The space will be intentionally designed by artists and designers who identify as people of color and we will carry black and brown brands in our boutique.
What stopped you from seeking VC funding and what other sources have you looked to for investment?
“Female entrepreneurs receive a tiny fraction of all venture capital funding — a minuscule 2.2% last year to be exact. - World Economic Forum
“Less than 1% of American venture capital-backed founders are black.” - Forbes
As the founder of Ethels Club I thought long and hard about how best to fund the company to ensure its success. Our North Star is to understand what it means to be a person of color in today’s world and to recognize and celebrate that experience without ever diluting it. If you look at the traditional makeup of most VC firms and where they invest, one can assume they won't know what it's like to live life as an “other”.
To start, we are raising capital through a crowdfunding campaign (launching April 1st!) and angel investors who embody our ethos and believe in the advancement and empowerment of people of color, like we do.
What advice do you have for women funders seeking capital?
Not sure I’m in a position to give advice yet! I would say it's important to really think about who you want on your cap table influencing the direction of your company. If that person/group/company gives you pause, it’s probably best to look elsewhere. I know that can be the hardest advice — as a Founder you just want to get up and running, but I think that the integrity of what you’re trying to create, is more important than dollars. This obviously varies business to business.
Building a business from the ground up means you're juggling a ton. What are the things you make time to read, listen to, or watch each week?
I try to take Sunday afternoon and evenings to take a break from the company. That rarely works, but when it does I’m reading Colson Whitehead’s Sag Harbor, listening to the new Toro y Moi, Solange and Noname and cooking! I cook a lot. Most recently working my way through Alison Roman’s Dining In. #thestew
Thank you so much, Naj! Check out the New York Times piece featuring her and other founders carving out social spaces for POC members, follow Ethels Club on Insta, and send her team good vibes on the crowdfunding campaign.
OKAY ALSO:
Further reading, linkies, and thoughts.
Why more people, women in particular, are turning down venture funding (NYTimes)
Limited partners who overlook women women founders “are skating to where the puck is, instead of where the puck is going to be, as we see a new multicultural majority in the U.S” - 500 Startups venture partner Monique Woodard (Fast Company)
Gimlet produced a six-part series about VC Arlan Hamilton and her plan to get rich by investing in “underestimated” founders (Gimlet Media)
Thanks for tasting our first morsel. We will now get back to it, “it” being avoiding listening to Elon Musk’s rap single honoring Harambe.
See you on Friday!
Lora and Sarah