Bellwether

Des Moines, Iowa · September 2026


Every town has someone worth following.

An interview series with women who built the companies they run. What they made, what it cost, and what they would do differently. There is no pitch at the end, and that is the whole point.

What this is

Most people who ask a founder for her time want something at the end of it. A subscription, a discovery call, a logo on a sponsor page. She has learned to listen for the turn, and she is usually right to.

This is forty minutes with no turn in it. One conversation, recorded, about how the business actually got built — the year that nearly ended it, the thing nobody tells you, the part that never showed up on a profit and loss.

What comes back is a written piece she can send to anyone: a bank, a board, her mother. Two introductions, made by name within a week. And one honest read on the business from someone who has just spent forty minutes inside it.

All of it arrives whether or not there is ever any work between us. Most of the time there is not, and the series is built on the assumption that there will not be.

What she leaves with

Three things, and no invoice.

A published piece

Her story, reported properly, with her photograph and her own words kept as she said them. Hers to send anywhere.

Two introductions

Named, warm, and made within the week. Actual emails to actual people, rather than an offer to help if she ever needs it.

One honest read

The thing about the business she is too close to see, written down and sent after. No invoice follows it.

How it works

She holds the pen.

  1. 01She reads every word before anyone else does. The piece arrives as a document she can mark up, cut from, or reject outright.
  2. 02She approves it or it does not run. No deadline overrides that, and no amount of work already done changes it.
  3. 03Anything she wants out comes out. No reason required, no limit on how much. Losing a line costs nothing.
  4. 04Some things come out before she asks. Children’s names, other people’s health, figures she did not mean to publish. She can always put them back.
  5. 05She can change her mind afterwards. A published piece comes down on request, without a conversation about it.

Why bother

The room is not imagining it.

1.1%

Share of United States venture capital that went to all-women founding teams last year, down from 2.1 per cent the year before. Of the new American companies that passed a billion dollars in valuation that year, not one had an all-women founding team.

PitchBook, 2025 US All In: Female Founders in the VC Ecosystem

$3.8m

The funding cost of a single question. Across 189 startup pitches, investors asked men how they would win and women how they would avoid losing. Founders raised $3.8 million less for every one of those questions. Male and female investors both did it.

Kanze, Huang, Conley & Higgins, Academy of Management Journal

39.2%

Share of American businesses owned by women, against 6.2 per cent of the revenue. The gap between those two numbers is the thing this series keeps running into from the inside.

Wells Fargo, Impact of Women-Owned Businesses

None of which is the reason the interviews happen. The reason is that the same story keeps arriving from women who have never met each other, in different industries, on different continents, and almost none of it has been written down.

Findings published as the series runs

Sit for one

If you built something, there is a chair.

The only qualification is that the company is yours and you can talk about how it actually went. Early, established, or sold and on to the next thing — all of it is interesting, and the ones who think their story is too ordinary are usually wrong about that.

Say hello and we will find forty minutes.

hello@bellwethernews.com Or pass along the name of someone who should be asked