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The Money with Katie Show

Ethical Consumption & Building Equitable Businesses, with Entrepreneur Sana Javeri Kadri of Diaspora Co.

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.81.3K Ratings

🗓️ 2 November 2022

⏱️ 29 minutes

🧾️ Download transcript

Summary

Until the global Pamela Anderson, I had never given much thought to ~the supply chain~ and where the things I buy come from—I kinda just took it for granted that I’d have 12 different almond butter options every time I wandered down Aisle 4 at my local King Soopers. And when you’re knee-deep in the “Financial Independence/Retire Early” world, there’s a heavy emphasis placed on attaining the things you need as cheaply as possible. Unfortunately, being able to purchase something for a single dollar in the US usually comes at a cost to another human being somewhere up the chain, and as consumers, we’re more or less shielded from exposure to exploitative labor practices, especially globally. This week, I wanted to explore consumption habits through the “personal finance” lens. We invited Sana Javeri Kadri, an entrepreneur in her twenties who’s revolutionizing the Indian spice trade from the inside out, to join us for the conversation. Sana (who recently closed a $2 million funding round) is proof that equitable business models are better for everyone from the farmer to the end consumer. To learn more about our sponsor, Vin Social, check out http://vinsocialvip.com/. Episode transcripts can be found at https://www.podpage.com/money-with-katie-show/. — Mentioned in the Episode 450 million in the global supply chain: https://www.hrw.org/news/2020/04/02/covid-19-puts-millions-global-supply-chain-workers-risk Outsourcing to China, Korea, and the EU: https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_370189/lang--en/index.htm "Food at home" prices up 12% this year: https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/#:~:text=In%202022%2C%20all%20food%20prices,between%2010.0%20and%2011.0%20percent. Crocodile farming and Hermès scandal: https://www.vice.com/en/article/g5bg8x/hermes-plans-to-build-australias-biggest-crocodile-factory-farm British colonization of India for spices: https://www.statecraft.co.in/article/spices-textiles-slaves-tea-and-opium-why-the-british-came-and-stayed-back-in-india Bon Appétit's interview with Sana: https://www.bonappetit.com/story/sana-javeri-kadri 60% of India lives on less than $3.10 per day: https://www.cnn.com/interactive/2017/10/world/i-on-india-income-gap/ Diaspora Co.'s single origin spices from 150 farms: https://www.diasporaco.com/pages/about Sana's $2.1m funding round (Forbes): https://www.forbes.com/sites/shaynaharris/2022/07/14/diaspora-co-mints-21-million-in-fresh-financing-to-build-an-equitable-spice-trade/?sh=635c64c274a4 — Follow Along - Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/ - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie - TikTok: https://www.tiktok.com/@moneywithkatie Subscribe to Morning Brew - Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.5

If you asked me a personal finance content creator obsessed with financial independence,

0:06.5

whether I would buy a $5 t-shirt or a $50 t-shirt, my answer might surprise you.

0:13.2

It's for the same reason I think most of us can opt for $12 spices versus the generic labels.

0:20.2

Buying the cheapest option isn't always the best one, especially when it comes to quality

0:26.4

ethics and the chance to align our dollars with our values.

0:31.2

Does that mean we should spend the absolute most on products instead?

0:35.2

Arguably no, but there is a balance we can consider. Let's get into it.

0:45.6

Welcome back to The Money with Katie Show Rich Girls and Boys. I have got a fun one for you

0:50.9

today that weaves together a few interesting threads with a very interesting guest.

1:03.3

Sana Javari Kadri, founder of DiasporaCo, a single origin spice company based in Mumbai.

1:10.4

We'll be talking about ethical consumption, building equitable businesses, and how sometimes the

1:15.5

pursuit of the lowest cost option means supporting a means of production that you probably wouldn't

1:21.8

be very proud to partake in. This entire episode is basically one giant sub tweet to myself

1:28.1

for being an Amazon Prime customer who buys basically everything I need with two-day shipping.

1:32.8

So with that said, let's begin with a question. Do you ever think about where the things you buy

1:38.3

come from? If you're anything like most Americans, including me, you probably didn't give it

1:43.2

much thought until two years ago when supply chain issues impacted your shopping habits.

1:48.4

In my own life in four different cities, I'd always been pretty confident that when I went to

1:52.8

the grocery store, I would have an abundance of choice, different brands across different price

1:58.2

points. For the most part, I've taken this completely for granted. The last time I went to my

2:02.9

local king's supers, I counted 12 different kinds of nut butter. We are spoiled with abundance,

2:09.7

and we often don't think about the supply chains, logistics, and labor practices that culminated

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