Financial disruptor Jessica Norwood talks with Konda Mason about her practice of friends and family capital, and how to bring the concept of right relationship into the world of finance.
Jessica Norwood is the Founder of the Runway Project, which uses entrepreneurship as a strategy to close the wealth gap in African American communities by providing pre-seed, friends and family capital, or what Jessica calls “Believe in You Money,” to fund people of color-led companies. Jessica is a financial activist and social entrepreneur who speaks worldwide on the intersection of culture and investing, emerging leadership, community investing and African American wealth creation. Learn more about her at jessicanorwood.com.
Friends and Family Capital
Konda welcomes Jessica to the Brown Rice Hour, and they dive into the heart of Jessica’s work as a financial activist and disruptor. Jessica talks about how the current American financial system doesn’t doesn’t have answers for our most pressing issues as a society. In order to disrupt the system, she brings the practice of being friends and family into the financial world.
“What was disruptive was calling in a practice and a ritual and a way of being at the very beginning of the capital continuum that would then require other people to have to move differently along the rest of the way.” – Jessica Norwood
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Right Relationship (21:50)
Konda asks Jessica to explain the racial wealth gap and the complex relationship between race and money. Jessica talks about her work with the Runway Project and how they’re disrupting the financial system. She explores the concept of right relationship, which is about changing the mindset and getting into a new relationship around capital.
“So when I’m telling people to practice being friends and family, it means to practice being in right relationship.” – Jessica Norwood
The Power Dynamics of Philanthropy (39:06)
Konda and Jessica talk about the intersection of spirituality and money, and the power dynamics of philanthropy. They discuss the Runway Project and how Konda has really encouraged Jessica to be entrepreneur-centric. They end the show by exploring the intersection of Black culture and investing, and how Jessica brings love and finance together.
“The money is actually a manifestation of our energies in the world, our prayers, our hopes, our dreams. So why would we not be in right relationship to the subject matter of it?” – Jessica Norwood
Images via Toni Riales and Jessica Norwood