Amazon’s HQ2 Decision Depends on the “Culture”

Amazon’s HQ2 Decision Depends on the “Culture”

By CultureBanx Team

  • Amazon reports around 18% of its workforce is black

  • Washington D.C. offers an educated workforce, HBCUs and the federal government

CBx Vibe:Chocolate City” Big Daddy Kane

Amazon’s (AMZN -0.38%) high stakes economic investment for HQ2 is continuing with some front runners like Washington D.C. emerging from the pack. The e-commerce juggernaut needs to be in a city with a strong talent pipeline and urban amenities like public transportation and culture.

Why This Matters: In Cushman & Wakefield’s Tech Cities report, D.C. landed at #3 on the list and was propelled by its educated workforce, top universities and the presence of the federal government. The city has a population that’s 47% black, according to the U.S. Census Bureau, a number that’s nearly four times the national average of 13%. Setting up shop in D.C. could easily up the company’s black employee representation. Currently, Amazon reports around 18% of its workforce is black, though it’s important to note they fold their warehouse and retail staff into overall employment diversity numbers.

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Chicago Taps Into Black Art For West Side Rehabilitation

Chicago Taps Into Black Art For West Side Rehabilitation

By CultureBanx Team

  • “Knowledge and Wonder” estimated to sell for $10M - $15M

  • Black people make up nearly 44% of the Chicago’s West side population

CBx Vibe:Work Out” Chance the Rapper

Chicago’s mayor, Rahm Emanuel is betting that artwork by Kerry James Marshall can help the city revive its West side. He announced a library in the area where one of Marshall’s paintings resides, would sell the artwork estimated to go for $10 million - $15 million at Christie’s auction house.

Why This Matters: Marshall’s painting “Knowledge and Wonder,” was completed in 1995 for the Legler branch of the Chicago Public Library, he originally received a fee of $10,000 for the mural. The building is in the city’s poorer West side, where black people make up nearly 44% of the population, according to The New York Times.

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CBx Vibes of the Week - #56

Coca-Cola Taking Over Nigeria’s Chi Juice

Coca-Cola Taking Over Nigeria’s Chi Juice

By CultureBanx Team

  • In 2016, Coca-Cola bought a 40% stake in Chi juice

  • Nigeria’s population of 190 million lives on less than $2 a day

CBx Vibe:Nu Africa” CyHi The Prynce

Coca-Cola (KO +0.09%) is rapidly making acquisitions that could transform the company and diversify from its core business of sugary sodas. The beverage giant plans to buy-off the rest of Nigeria's Chi juice in 2019 for an undisclosed amount.

Why This Matters: Chi is Nigeria’s largest juice maker, known for its Chivita and Hollandia juice, dairy and yoghurt drinks. In 2016, Coca-Cola bought a 40% stake in Chi with the aim to increase ownership within three years.

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Embattled Papa John’s Throws A New Hail Mary Play

 Embattled Papa John’s Throws A New Hail Mary Play

By CultureBanx Team

  • Trian Fund Management could be interested in a Papa John’s takeover bid

  • Former CEO John Schnatter used the N-word on a marketing call

CBx Vibe:Bad Company” ASAP Rocky

Shares of Papa John’s (PZZA +0.49%) are climbing out of their tailspin, after reports surfaced that Trian Fund Management could be interested in a takeover bid. After a very tumultuous year when the former CEO made racist comments, sending the stock into free fall, this is likely very good news to investors ears.

Why This Matters: Let’s go back to what started the downfall of the third largest U.S. pizza chain. On a conference call with the marketing agency Laundry Service intended to prevent future public relations snafus, former CEO John Schnatter let the N-word slip. Since news broke, multiple sports teams have cut ties with the pizza chain causing the company’s stock to rapidly decline.

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Snapchat Wants Black Teens To Boost New Scripted Shows Viewership

Snapchat Wants Black Teens To Boost New Scripted Shows Viewership

By CultureBanx Team

  • Snap Originals has 12 new scripted shows

  • 9 out of 10 black teenagers use Snapchat

CBx Vibe:The Come Down is Real Too” Belly

Snap (SNAP +5.43%) announced 12 new “Snap Originals” scripted shows in effort to regain its popularity with the very coveted but fickle teen user group. African American teens are the first-movers in many ways when it comes to deciding what’s going to take-off on social media. Will these new shows be enough to get back in their good graces, impress investors and fend off Facebook’s (FB +0.25%) territory poaching Instagram?

Why This Matters: Teenagers and their technology are inseparable with 9 out of 10 black teenagers using Snapchat, according to a survey by The Associated Press-NORC Center for Public Affairs Research. Episodes of Snapchat’s new shows will try to engage this group and include six-seconds of non-skippable advertising, keeping in line with its current format of shows.

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Training Wheels Off: Getting the U.S. Economy to Stand on its Own

Training Wheels Off: Getting the U.S. Economy to Stand on its Own

By CultureBanx Team

  • Bostic voted for the Fed’s interest rate hike target range of 2% - 2.25%

  • Market selloff was sparked by a sudden rise in interest rates

CBx Vibe:ATM” J. Cole

Stocks just came off their longest week long slump since March, following a decline that slashed 1,400 points from the Dow Jones Industrial Average at its lowest point. The potent market selloff was sparked by a sudden rise in interest rates, something that Atlanta Fed President Raphael Bostic said will likely continue to get the U.S. economy back on track.

Why This Matters: Bostic spoke earlier this month and proclaimed the Fed should continue to raise rates until it gets to a neutral policy stance in order to assess how the economy is really doing. “Current conditions suggest, to me, that we ought to get to a policy stance where our foot is neither on the gas pedal… what we call an accommodative policy… nor on the brakes… what we call a restrictive policy,” Bostic said in a speech at an education conference in Atlanta.

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Lyft Picks Up New Policy Chief From Obama’s Administration

Lyft Picks Up New Policy Chief From Obama’s Administration

By CultureBanx Team

  • Foxx is the 1st  former transportation secretary to join a Silicon Valley startup

  • Lyft doubled revenue to $909 million in the first half of 2018

CBx Vibe:Pull Up” A Boogie Wit Da Hoodie

Lyft just hired former Obama transportation official Anthony Foxx to develop more partnerships with governments and reshape mass transit systems in cities across the country. The brilliant and strategic hire comes as Lyft faces new challenging regulatory roadblocks while trying to expand their business.

Why This Matters: It definitely helps Lyft to have Foxx, the first former transportation secretary to join a Silicon Valley startup to navigate the muddled world of politics. This hire sends a clear signal that Lyft wants to operate in conjunction with governments unlike its dominant rival Uber, that has several regulators globally upset with the company.

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Changing the Game: Marilyn’s Secret Privatizes Public Social Media

Changing the Game: Marilyn’s Secret Privatizes Public Social Media

By CultureBanx Team

CBx Vibe:I’m Every Woman” Chaka Khan

In a world where the toxic nature of social media has taken over many  folks personal lives, Marilyn’s Secret seeks to empower women through its anonymous social network. Found Patrice Drayton wants to give users the option to keep their identities private, while creating a supportive community and weeding out trolls. “On traditional social media platforms people aren’t able to express their true identity due to shame, judgement and backlash,” said Drayton. The idea is to give women a chance to let down their guard, away from networks like Facebook and Instagram, where users present only their best sides. Drayton notes she has “a vietnamese friend who is unable to post pictures of her bi-racial child for fear her family might find out” on traditional social media sites. In order to enhance engagement for women the platform provides an escape to empower and encourage women to live of their virtual lives in the real world.

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