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Hi, fintech fam! 💜

The Fintech Is Femme Creator Summit was electric! It was an amazing day — our speakers and attendees shared so many valuable insights.

Follow and connect with me on LinkedIn or Instagram because I’m reposting all the highlights there! I’ll also write detailed recaps in this newsletter and create digital courses for everyone, including those who couldn’t make it. I want to ensure this information is accessible to all, so watch for more updates!

Today's big story is the presidential debate happening in about an hour!

What should you fintech professionals and enthusiasts know about it? A new report just landed on my desk from one of the top fintech companies, revealing how fintech users feel about the debate and the topics they’re eager to hear about.

Let’s get into it.

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IMPACT

What the Economy and Fintech Stand to Gain from Kamala Harris (Or Lose to Donald Trump)

Well, folks, buckle up. It’s time for another presidential debate, and if you’re like me, you’re stress-scrolling through your newsfeed, trying to keep up with all the hot takes on who’s going to fix our broken economy—or, at the very least, keep us from hiding under the nearest table.

And just last week, Goldman Sachs—those Wall Street giants—dropped insights suggesting Kamala Harris is better for the U.S. economy than Donald Trump. Imagine that! A woman in the White House actually doing some good for the economy? Who would’ve thought? (Spoiler alert: all of us.)

But it’s not just Goldman’s crystal ball predictions that caught my attention. Fintech giant Stash decided to get in on the action by surveying its users—real, hardworking, Main Street Americans—on what’s eating away at their wallets.

And, ladies, it turns out inflation and the high cost of living are keeping people up at night more than the latest binge-worthy Netflix series. But, surprise, surprise—their feelings about these issues depend a lot on their political stripes.

Money Talks (And It’s Speaking Different Languages)

Stash’s survey shows what we already know: lower- and middle-income Americans are feeling the heat from inflation. But the big twist? Whether they’re full-on sweating or just a little dewy depends on who they’re voting for.

“What the study did shed sharper light on is how vastly different individuals’ perceive their economic condition depending on their political view,” says Stash CEO Liza Landsman.

“Regardless of the outcome of the election, every American deserves the right to be confident about their financial outlook, and have access to the tools, guidance, and advice that allow them to achieve personal financial success,” she said.

Trump supporters are deeply pessimistic. A whopping 73% of them are highly concerned about inflation. Compare that to just 22% of Harris supporters who are freaking out about the rising costs of avocado toast. (Okay, maybe not that specific, but you get the idea.)

But here’s where it gets even more interesting: people with the same financial situation—same income, same job insecurity—are walking away with wildly different economic takes, depending on whether they’ve got a MAGA hat or a Kamala 2024 bumper sticker. It’s almost like living in two alternate realities.

Trump fans are 4x more likely to rate their financial concern as a 10 out of 10. Meanwhile, Harris voters are over here worried about health care, housing, and the environment. You know, just casually trying to save the world while they sip their matcha lattes.

The Fintech Future: Harris, Trump, and Everything In Between

Here’s where things get practical: what does this mean for industries like fintech, which live and breathe on innovation, regulation, and, let’s be honest, keeping us all from losing our minds when we check our bank accounts?

Well, Harris could be a game-changer. She’s already got tech giants in her corner (hello, Silicon Valley!), and experts like Penny Pritzker are saying that under her watch, we could see a major boost in innovation, collaboration, and financial inclusion.

Translation: fintech could thrive under her leadership, making financial tools more accessible for all Americans, not just those lucky few who already have three financial advisors on speed dial.

And let’s not forget her passion for supporting women and people of color in business. With only 2% of venture capital funding going to women (yes, you read that right—2%), Harris’s focus on closing that gap could be groundbreaking for the industry.

We could finally see more women-led startups and fintechs getting the investment they deserve. (Yes, it’s 2024 and we’re still having this conversation. Sigh.)

But before you pop the champagne, let’s consider what happens if Trump wins. (Sorry, I know, I’m killing the vibe.) A Trump administration could mean slower growth for fintech due to tariffs, immigration restrictions, and that familiar battle cry: less regulation is more innovation! 

But here’s the thing: fintech needs the right balance. Too much deregulation, and you’ve got the wild, wild west of consumer protection. Not enough, and innovation grinds to a halt. It’s a tightrope walk, and Trump’s policies might leave fintech companies struggling to keep their balance.

Why You (Yes, You) Should Care

Okay, so why does this matter? Well, because the economy isn’t just an abstract concept, and fintech isn’t just some Silicon Valley buzzword. It’s about you—the woman juggling a career, a family, and the pressure to save for retirement while inflation eats away at your savings as you build your businesses.

Under Harris, we’re likely to see a boost in job growth and middle-class spending power, which means more people with disposable income—and more demand for the personal finance tools and digital banking services fintech provides.

On the flip side, a Trump win could put the brakes on that progress. Higher tariffs? Say hello to increased costs for fintech companies that rely on global partnerships. Stricter immigration policies? That’s a talent pipeline shut down, making it harder for fintechs to recruit the best and brightest minds. We’re talking about real consequences here, not just wonky policy debates.

Fintech’s Future Is (Kind of) in Our Hands

Ladies, the stakes are high. This election isn’t just about who gets to sit in the Oval Office; it’s about how the next president will shape the economy and industries like fintech for years to come.

Stash’s survey might have shown us a divided country, but it also revealed something we can all agree on: we’re all looking for solutions. We want economic stability, access to financial tools, and a future where our wallets aren’t a constant source of stress.

If Harris wins, the fintech industry could be poised for a major boost. More jobs, more innovation, and more inclusion—that’s something worth getting excited about. But if Trump wins, well… fintech will face some serious challenges.

And while we’re not fortune-tellers, one thing is clear: this election could be a turning point for our financial futures.

So let’s stay informed, stay engaged, and remember that whoever wins, we are the ones who will make our economy—and our financial futures—work for us.

Now, go on and keep building your fintech companies—and that generational wealth. You've got this!

Check out Stash’s full survey results here.

_{WTF ELSE?}

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• 📚 Today’s Read: I love this profile on Chappell Roan in RollingStone and her rise to pop stardom. The thing about your career starting to pick up after hustling for so long is people don’t see how hard it is to keep up. Who can relate?

•  👀 Today’s Watch: The presidential debate, duh! Grab the popcorn. And the whiskey.

• 🍣 Today’s Eats: If you’re ever in Brooklyn and looking for a cozy, chic, and delicious place to grab a coffee and a bite, go to September. It’s a friend of mine's spot. It’s also a great place to see some New York street fashion—it’s basically fashion week every day in my neighborhood!

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🎵 Billie Eilish - BIRDS OF A FEATHER

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That’s all for now! See you Thursday!

Love,

Nicole 💜