• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
NewslettersMPW Daily

Diagnosed with gender dysphoria, she couldn’t concentrate in front of her computer. Then she transitioned her gender and raised $6.8 million for an AI electrical engineering startup

By
Emma Hinchliffe
Emma Hinchliffe
and
Nina Ajemian
Nina Ajemian
Down Arrow Button Icon
By
Emma Hinchliffe
Emma Hinchliffe
and
Nina Ajemian
Nina Ajemian
Down Arrow Button Icon
December 19, 2024, 8:45 AM ET
Margot Blouin
Margot Blouin is the founder and CEO of Cadstrom. Sasha Onyshchenko
Add Fortune on Google for similar content.

Good morning! House Republicans want to investigate Liz Cheney, the Gisèle Pelicot case comes to a close, and a founder built her company while redefining her own gender identity. Have a peaceful Thursday.

– Founder story. In March of 2023, Margot Blouin founded Cadstrom, an AI startup that aims to help electric engineers build hardware correctly on the first try. She met her cofounder and started raising $6.8 million in seed capital. At the same time, she was transitioning her gender to live openly as a woman for the first time.

Recommended Video

Transitioning as an adult or experimenting with gender presentation is hardly unusual in 2024, but Blouin’s role as a new founder and CEO in an overwhelmingly white male—and, often, conservative—industry added extra layers to the process.

She describes her transition as a deeply personal journey that came following a period of severe burnout and a diagnosis of gender dysphoria. “It was difficult for me to sit at a computer for fun, nevermind for work,” the self-described longtime electronics fanatic says of her mental state before transitioning. “I was pretty broken.” After starting to transition, she began to experience joy again. “On the one hand, you have anxiety, but on the other, I’d been feeling better than I had in a long, long time,” she says.

Margot Blouin is the founder and CEO of Cadstrom.
Sasha Onyshchenko

Her anxiety came from a fear: founding Cadstrom was her “life’s work,” an idea that came from her own experience building electronics and encountering delays and “respins,” or design reconfigurations, required of their printed circuit boards. “I had to sit back and think, am I going to be able to accomplish that if I transition? Or am I going to be giving up that dream?” she says.

Instead, the reverse was true. She says if she hadn’t transitioned, there’s no way she would be able to build a company today. The 31-year-old first shared her new name and identity as a trans woman with friends and family, then with her cofounder Scott Bright about seven months ago. She told Cadstrom’s small team of five, but asked them to keep addressing her by her former name until she came out publicly; she didn’t want to put them in a situation where they didn’t know what to call her in front of a customer or investor.

Similar situations arose throughout the process of building and funding a company. Blouin recalls deciding what to tell investors while scheduling pitch meetings when she took time off for throat surgery related to her transition. “That was not something I was ready to talk about with everyone around me,” she remembers.

Once, Cadstrom was selected by the organization Quebec Tech as one of the most promising startups in the Montreal region, where Blouin is based. That morning, Blouin laid out her suit to wear. But when it came time to get dressed, she couldn’t bring herself to put it on. “I just thought, I’d rather not show up at all,” she says. She instead wore an outfit she felt comfortable in and gave her presentation at the evening’s event. The only response from the group was to ask how to address her.

“I used to joke, ‘I’ve got to go man up,’” she remembers—her way of describing going to work surrounded by people who she wasn’t yet ready to tell. “That was fundamentally hard,” she says. Before transitioning, Blouin already openly identified as queer, which helped her find investors—Bison Ventures, Innovation Endeavours, and A12 Incubator—who were supportive when she later told them about her transition. She looked around for trans role models in the tech industry, but didn’t find many; she did connect with one VP at Microsoft, where Blouin used to work as a program manager, who served as a resource.

Yet while Blouin’s immediate circle was supportive, the same can’t always be said of broader society or even her industry. Over the past year, trans people were often wielded as a political flashpoint among Republican politicians in the U.S.—and by Elon Musk, an unavoidable figure in the electrical engineering world. Blouin sees herself as an “ambassador” of sorts, often meeting people who have never, to their knowledge, encountered a trans person before. “People with a science and engineering background tend to have a mindset where they’re open to new ideas,” she says. “Sometimes they need some help. They have questions, but when questions come from a place of love and support and trying to develop understanding, I think that that’s a wonderful growth opportunity.”

Blouin believes that the skills of a founder and CEO—demonstrating leadership and confidence, putting people at ease—helped her navigate her transition in her professional life. Yet she argues that her transition is not so different from any other challenge a person might be dealing with alongside their work, from a family issue to a breakup. “Everybody has things going on in their lives,” she says. “Transitioning was mine.”

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.

ALSO IN THE HEADLINES

- Looking into it. A new report from House Republicans calls for the investigation of former Rep. Liz Cheney (R-Wyo.) for her work on the select committee that investigated the Jan. 6 Capitol attack. Cheney has been accused of influencing the testimony of a key witness; she refuted the report’s findings. Axios

- Coming to a close. The Gisèle Pelicot case came to a close today. Her husband Dominque Pelicot was found guilty and given the maximum sentence of 20 years for drugging and raping her over two decades with strangers he recruited online. The case has reignited the #MeToo movement in France. Guardian

- Still stuck. NASA astronauts Suni Williams and Butch Wilmore will need to stay on the International Space Station until late March at the earliest, as the SpaceX spacecraft that will come get them needs more time to “complete processing.” Their mission was originally supposed to last for a week, but will now extend over nine months. CNBC

- Shoe signing. WNBA player A'ja Wilson is signing one of the richest shoe deals for her sport, with a six-year extension for her Nike contract. Earlier this year, she was named one of Nike’s signature athletes, and her signature shoe will be released in the spring of 2025. ESPN

MOVERS AND SHAKERS

Indigenized Energy, a Native-led energy solutions developer, named Lorilee Morsette COO. Previously, she was president of national accounts for tribal markets at Mutual of America Financial Group.

Citrin Cooperman, a professional services firm, named Kimberly Paul chief information officer. Most recently, she was CTO at CareCentrix.

Frontline Education, an administration software provider for K-12 educators, appointed Hope Needham as chief people and culture officer. Needham most recently served as chief people officer at ConstructConnect.

Cure Rare Disease, a genetic diseases treatment developer and nonprofit, named Brittany Stineman chief advancement officer. She is the volunteer president and founder of smashSMARD.

Adicet Bio, a autoimmune diseases and cancer treatment developer, named Dr. Julie Maltzman chief medical officer. Most recently, she was chief medical officer of IconOVir Bio.

When, a post-employment support and solutions provider, appointed Tara Conger to its board of directors. She is the founder of Conger Consulting.

ON MY RADAR

Lee Fitting was ESPN’s ‘golden boy’ — then his alleged misconduct ‘finally caught up to him’ The Athletic

Microsoft’s Sarah Bird: Core pieces are still missing from artificial general intelligence Financial Times

From period underwear to plastic-eating mushrooms: Miki Agrawal’s life after Thinx Elle

PARTING WORDS

“Now in my life and where I am in my career, I really stand for my music, like I feel really proud of it.”

— Singer Billie Eilish in her eighth annual Vanity Fair interview

This is the web version of MPW Daily, a daily newsletter for and about the world’s most powerful women. Sign up to get it delivered free to your inbox.
About the Authors
Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
LinkedIn iconTwitter icon

Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

See full bioRight Arrow Button Icon
By Nina AjemianNewsletter Curation Fellow

Nina Ajemian is the newsletter curation fellow at Fortune and works on the Term Sheet and MPW Daily newsletters.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

Exclusive: Hera raises $27 million to tackle the unpaid caregiving that falls on daughters of the sandwich generation
NewslettersMPW Daily
Exclusive: Hera raises $27 million to tackle the unpaid caregiving that falls on daughters of the sandwich generation
By Emma HinchliffeJune 25, 2026
14 hours ago
VivaTech entrance in Paris.
NewslettersEye on AI
Europe’s AI wake-up call: Cybersecurity threats, sovereignty fears, and a growing demand for ROI dominated VivaTech
By Beatrice NolanJune 25, 2026
16 hours ago
Lux Capital cofounder Josh Wolfe’s limited-odds, high-stakes 2027 predictions
NewslettersTerm Sheet
Lux Capital cofounder Josh Wolfe’s limited-odds, high-stakes 2027 predictions
By Allie GarfinkleJune 25, 2026
20 hours ago
A 6 year study shows which CEOs are pushing RTO mandates: The ones with the biggest egos
NewslettersCEO Daily
A 6 year study shows which CEOs are pushing RTO mandates: The ones with the biggest egos
By Claire ZillmanJune 25, 2026
20 hours ago
OpenAI CEO Sam Altman (left) and Broadcom CEO Hock Tan holding their new AI chip, “Jalapeño.” (Photo courtesy OpenAI)
NewslettersFortune Tech
OpenAI and Broadcom’s AI chip has a name: Jalapeño
By Andrew NuscaJune 25, 2026
20 hours ago
How Home Depot is rebuilding retailing with AI
NewslettersCIO Intelligence
How Home Depot is rebuilding retailing with AI
By John KellJune 24, 2026
2 days ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
23 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
23 hours ago
Current price of silver as of Thursday, June 25, 2026
Personal Finance
Current price of silver as of Thursday, June 25, 2026
By Joseph HostetlerJune 25, 2026
17 hours ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
17 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.