Jenny Just, the co-founder of Poker Power, was recently profiled by Time Magazine earlier this week. The title of her piece was ‘This Female Billionaire Thinks the Secret to Women’s Wealth Is Poker.’ In the article, she spoke about how poker can help women make their way through the male-dominated business world.
Just, 55, incepted Poker Power in 2020. Poker Power is recognised for its efforts to assist women in learning how to take risks and thus make profitable investments as well as business decisions through the game of poker.
“All we do is show them that if you’re hardworking, you’re curious, and you’re smart, [options trading] can be a great career,” she says, talking about Poker Power.
In the Time Magazine profile interview, Just mentioned, “I’m not saying [poker] is the be-all and end-all. But if women don’t get in positions of power, all those other things are going to continue to happen. And if you don’t understand the money and how you as an individual tie back to it, you’re not going to sit in that seat of power.”
I’ve made bets on many unlikely contenders throughout my career, some successes others not, but I’m all in on this one.
— Jenny Just (@JenniferJust8) July 25, 2023
Just believes that poker mirrors the options market. It has imperfect amounts of information; however, if you manage to invest on the probable outcomes and accordingly change your strategy as and when more information comes in. The Milwaukee-born admits that options trading is not an automatic ticket to power. Nonetheless, it’s a crucial skill, and she strives to introduce it to more women.
“I tell women, ‘You don’t have to be a trader the rest of your life. But if you can understand options, you can sit at any table in any industry, in any position, and understand what’s going on with the money. And that’s where all the decisions are,” she said.
Just further states that it’s no accident that the gender breakdown among competitive poker pro players and options traders is quite similar. Both of them have less than 10% women. Since she started her career as an options trader, Just has had a first-hand view of how women perform in high-pressure situations. The math lover noticed that there were two significant shortcomings. Firstly, women are extremely risk-averse, and secondly, they are poor at capital allocation.
Thus they lack the confidence needed to make the calls on when and how much to invest, especially when all the information is not available in front of them. Just noticed that the biggest weakness for women had been around money. “I can see it when I try to bring them in for trading. I can see it when I listen to them trying to raise money for investments,” says Just.
“My goal is to get girls learning before that first rung on the ladder, where the guy already has comfort taking the risk for the next job,” she adds. The mother of four and the owner of four companies thinks that the way to build confidence in women is to play at taking risks. “The world is going to change and evolve. I just don’t want women in the backseat. They are going to have to take risks with things,” she says.
Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by expressing herself through words. Additionally, she adores indulging in anything that satisfies her creative self, like drawing and DIY crafts.
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