
Episode #67
Breaking the Capital Ceiling: Erin Harkless Moore on Who Gets Funded and Why
What happens when a $648 billion market goes uncounted, and who decided it wasn't worth measuring in the first place? This episode follows Erin Harkless Moore from the breakfast table in San Antonio, through Goldman Sachs, Cambridge Associates, and Princeton's endowment, to Pivotal, the organization founded by Melinda French Gates, where she builds an investment program aimed at the people and markets capital has overlooked. It's a conversation about who gets funded, who gets to decide, and what changes when you start measuring what finance has ignored. Leah Solivan interviews Erin about starting her career in a Goldman Sachs group with no female partners, earning the CFA so no one could question her technical credibility, and cold-emailing Harvard Business School alumni to find her way to the allocator side of the table. She shares the index card her husband pushed her to write, a single line about changing how capital is allocated and who is in the room, and how it led to a job she half-thought was a prank, interviewing virtually as Seattle became an early COVID epicenter. Erin explains why reframing the bar isn't the same as lowering it, using the example of GP commitment requirements that can screen out fund managers who don't come from wealth. She walks through Pivotal's approach of using investing, philanthropy, and advocacy together, how DEI headwinds are showing up in fundraising right now, what she has learned from watching Melinda French Gates prepare for every meeting, and where she sees the next overlooked markets, from women's health to women's sports. She closes with what she'd write on the index card for the next generation of women building where capital hasn't looked yet. Key Insights • Reframing the bar isn't lowering it. It's asking whether you're measuring the risk you actually care about. • A market nobody has measured is easy to dismiss. Sizing it can make it undeniable. • Diligence rules like large GP commitments can screen out strong managers who didn't start with wealth. • Writing a one-line purpose down makes it easier to say no to the wrong opportunity. • No single tool moves a big problem. Investing, philanthropy, and policy work better together. • When data alone doesn't change minds, a better story often has to. • Conviction backed by homework and data is what carries you through the doubt. Timestamps 00:00 Welcome to Breaking Precedent 01:55 Her Grandmother's Index Cards 02:25 San Antonio Roots 06:19 Breakfast and Big Ideas 10:45 Math to Wall Street 15:41 Goldman and Representation 20:34 Writing Your Own Card 24:39 The Pivotal Call 27:42 Betting on Care Economy 29:49 Choosing the Leap 32:35 Measuring the Care Economy 35:38 Reframing the Bar 37:46 Living the Thesis 40:20 All Tools Strategy 43:41 DEI Headwinds and Returns 47:45 Lessons from Melinda 49:56 Next Invisible Economies 53:25 Breaking Precedent Legacy 55:18 Changing the Story 57:04 Conviction Index Card 59:44 Closing and Takeaways Resources Mentioned Pivotal Ventures: https://www.pivotalventures.org Magnify Ventures: https://www.magnifyventures.com Cambridge Associates: https://www.cambridgeassociates.com Thank you to our Precedent Breaking Partners! Justworks: justworks.com/?utm_source=breakingprecedent&utm_medium=podcast&utm_campaign=breakingprecedent&utm_content=podcast Squared Away: gosquaredaway.com/breakingprecedent?utm_source=breakingprecedent&utm_medium=podcast&utm_campaign=breakingprecedent&utm_content=podcast TaskRabbit: taskrabbit.com/?utm_source=breakingprecedent&utm_medium=podcast&utm_campaign=breakingprecedent&utm_content=podcast Leah Solivan is the host of Breaking Precedent, a podcast that explores the stories of innovators who are pushing societal boundaries and setting new precedents in their fields. Leah Solivan is General Partner at Fuel Capital, where she invests in early-stage companies across consumer technology, hardware, education, marketplaces, and retail. Leah Solivan has 15 years of experience building and creating technology products that have reached millions of people around the globe. She started her career at IBM as an engineer in the software group, working on Lotus Notes and Domino. In 2008, Leah Solivan founded TaskRabbit, the leading on-demand service marketplace in the world. Connect with Leah Solivan: Website: breakingprecedent.com/ Instagram: https://www.instagram.com/leah_solivan/ X: https://twitter.com/labunleashed?lang=en





