Meet Jenny Just, a self-made billionaire whose wealth soared during the pandemic. You might not have heard of her until now, but she’s stepping into the limelight for a unique cause: teaching 1 million women and girls how to play Texas Hold’em. In this blog post, we’ll delve into why she believes poker is the key to empowering women and closing the gender gap in traditionally male-dominated fields.
The Poker Power Mission
In the 21st century, women still face challenges in corporate boardrooms and beyond. Jenny Just, aged 55, understands the importance of women’s participation in positions of power. She founded Poker Power, a company dedicated to introducing poker to women and girls worldwide. With an app, female instructors, high-profile events, and 32,000 participants from 40 countries, Poker Power is making a significant impact.
The Connection Between Poker and Success
Jenny Just’s background in options trading has given her unique insights into the challenges women face in high-pressure situations. She identifies two key shortcomings: women tend to be risk-averse and struggle with capital allocation. Poker, as it turns out, mirrors the options market, where you make decisions based on incomplete information and adapt as new data emerges. Just sees poker as a valuable skill for women to understand money, take risks, and ultimately sit in seats of power.
Closing the Confidence Gap
Research shows that there’s an overlap between poker skills and cognitive abilities critical for successful investing. Poker requires strategic decision-making and assessing probabilities, much like options trading. Just believes that building confidence in women is essential, starting early in their careers, to bridge the gender gap in leadership positions.
Journey to Success
Just’s journey to becoming a billionaire started with a knack for math, landing her a job in a Chicago-based financial firm. Her career led her to create Peak6, a successful investment firm, alongside her husband. They’ve managed assets worth billions, demonstrating that women can excel in finance when given the opportunity.
Empowering Future Generations
Just’s commitment to empowering women extends to her initiative, “Trading Experience,” where undergraduate women are introduced to options trading. But the inspiration for teaching poker to teen girls arose from a marital disagreement. This shift in perspective led to Poker Power’s formation and the positive transformation it brought to young girls.
Poker Power’s Approach
Poker Power offers a range of learning opportunities, including an app, Zoom classes, and in-person events, all free from the pressure of using real money. The program instills the value of “compound experiences,” where failing and learning from losses pave the way for future success.
Real-Life Applications
The lessons learned at Poker Power events are inspiring women like Jen Hensley, a vice president at Con Edison, to apply poker strategies in their professional lives. It’s a way to cultivate a mindset focused on calculated risk-taking, which can be invaluable in leadership roles.
The Controversy and Uncertainty
While Jenny Just’s efforts are commendable, there are challenges associated with women entering the world of poker. The game has long been male-dominated, and the link between risk appetite and testosterone is well-established. Additionally, there’s a debate about whether poker skills translate effectively to real-life decision-making, especially in fields like finance.
Conclusion
Jenny Just’s journey from a math whiz to a self-made billionaire showcases the potential for women in finance. Through Poker Power, she aims to boost women’s confidence and risk-taking abilities, ultimately positioning them for success in male-dominated industries. While the approach may be unconventional, it’s an exciting step toward gender equality in positions of power. So, recent graduates, if you’re looking to build confidence and strategic thinking, maybe it’s time to consider a seat at the poker table!
