Lost Guap: The Price of Printing Currencies in Other Countries

  Lost Guap: The Price of Printing Currencies in Other Countries

By CultureBanx Team

  • Liberia’s central bank lost $104 million worth of banknotes

  • The U.S. prints approximately 7 billion banknotes per year

CBx Vibe:Dark Knight Dummo” Trippie Redd Feat. Travis Scott

Missing cash to the tune of $104 million in Liberia is still unaccounted for, after it was printed overseas and passed through the country's main port and airport. With Africa being the fastest growing region for banknote printing and several countries having this process done outside of their borders, should we care where our money is printed?

Why This Matters: A number of highly specialised companies make cash for most of the world's currencies. Liberia uses outsourced printing for its banknotes simply because it’s expensive and difficult to do within the country. They are also trying to avoid having to keep up with fast moving technological advances to prevent counterfeiting.

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Is Your Pets Halloween Costume Instagram Ready?

Is Your Pets Halloween Costume Instagram Ready?

By CultureBanx Team

  • In 2017, black people spent $130 million on pet supplies which includes clothes

  • Pet owners will spend an estimated $480 million on costumes this year

CBx Vibe:You Different” Devvon Terrell

Pets are getting roped into Halloween like never before, as their owners get ready to shell out a record breaking amount to dress them up. If there’s one industry in which money can still be made, it’s pet food and supplies where owners are projected to spend $72 billion this year.

Why This Matters: A 2017 survey by Branded Research found 41% of black pet owners have dogs and 44% have cats. They spent $130 million on pet supplies which includes clothes for their pampered pooches last year. Millennials are the most likely to dress up their pets for the season, often posting their animal’s Halloween look on Instagram, a platform black adults use more than any other ethnic group.

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‘Opportunity Zones’: Impact Investing on Steroids

‘Opportunity Zones’: Impact Investing on Steroids

By CultureBanx Team

  • 56% of Opportunity Zones residents are minorities

  • There are 8,700 Opportunity Zones low-income census tracts

CBx Vibe:Bad Intentions” Trip Carter

Image conscious billionaires are investing in low income ‘Opportunity Zones’ as a way to not pay taxes. This is the latest push for ultra-high net worth individuals to keep all of their coins while pretending to do charity work, as they exploit yet another tax loophole at the expense of urban communities.

Why This Matters: This is simply money chasing more money. Billionaires can reap extensive benefits including the ability to defer paying capital gains tax through 2026, after selling a company if they invest in these Opportunity Zones. Additionally, taxes on capital gains from investments in zones can be avoided, if the investments are held for at least 10 years.

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Changing the Game: Integrate Tech Customizes Student Learning Experiences

Changing the Game: Integrate Tech Customizes Student Learning Experiences

By CultureBanx Team

CBx Vibe:Started From the Bottom” Drake

When Kevin Celisca was in the fourth grade he started to fall behind, until his teacher offered to tutor him for free. He never wanted another student or teacher to not have the right education tools to succeed so he along with his business partner created Integrate Tech. The EdTech product is designed to help kids with their individual learning style, while minimizing distractions and providing data analytics for educators and administrators. “This changes the way we look at education in the future, impacting all socioeconomic backgrounds, and education levels,” Celisca said. The software is dynamic and forms to K-12 schools needs and structures. Integrate’s main data points are attendance, participation, behavior and grades. “It puts all the information about a students education in one place so that teachers can focus on teaching and not management.” Ultimately, the company is trying to create a more intelligent society with everyone having a fair shot at receiving the best education.

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CBx Vibes of the Week - #57

Exxon’s Oil Exploration Ambitions Expand to Mozambique

Exxon’s Oil Exploration Ambitions Expand to Mozambique

By CultureBanx Team

  • ExxonMobil and Rosneft deals expected to draw investments of $700M - $900M

  • Mozambique could become the world’s 4th largest exporter of gas

CBx Vibe:Big Deal” Kid Ink

The Mozambique government has signed oil exploration agreements with energy firm ExxonMobil (XOM +0.15%) and oil company Rosneft. These deals are expected to draw investments between $700 million and $900 million, as the country expects to become a major exporter of oil and gas.

Why This Matters: Mozambique is looking to tap its oil and natural gas resources to cut its debts. The country’s state-owned oil company Empresa Nacional de Hidrocarbonetos will own stakes of 15% to 30% in the projects. Its government has been in default on their commercial external debt since announcing they wanted to restructure in 2016, so revenues from this deal are desperately needed.

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ICO Ratings: Facts or Fake?

ICO Ratings: Facts or Fake?

By ICO Alert

  • ICO ratings are known to be definitively biased

  • DJ Khaled backed Centra an ICO under criminal investigation with the SEC

CBx Vibe:Tints” Anderson .Paak

With the SEC takedown of John McAfee’s Twitter ICO endorsements, many are questioning whether or not ICO ratings are a scam.The answer to that question may be complicated.

Why This Matters: It has become universally recognized that ICO ratings are definitively biased. Typically, companies that are endorsed by celebrities, experts, or influencers usually pay a fee for that endorsement.

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Facebook Removing Ads Aimed at Black People

Facebook Removing Ads Aimed at Black People

By CultureBanx Team

  • Facebook miscategorizing ads geared towards African Americans as political

  • Less than 5% of Facebook's ad revenue comes from political ads

CBx Vibe:Mind Games” Mike Stud

Complaints are piling up around Facebook (FB -0.56%) mis-categorizing ads geared towards African Americans as political, when in fact they are not. As an advertising powerhouse, this year they adopted stricter disclosures for political campaigns and contentious national issues, it seems as though they may be over-correcting.

Why This Matters: Blocking ads along racial or ethnic lines raises several alarming concerns, as Facebook wants to have its cake and eat it too. They have been deploying artificial intelligence to sift through ads, a tool with deep rooted issues when it comes to racial fairness. Removing ads that mention race and identity point to the tense climate of political discourse in our country, making the company play the role of arbiter.

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Moët & Chandon Infuses Virgil Abloh’s Urban Champagne Drip

Moët & Chandon Infuses Virgil Abloh’s Urban Champagne Drip

By CultureBanx Team

  • Moët & Chandon collaborates with Virgil Abloh on their Nectar Impérial Rosé

  • Luxury brands are using the cultural energy to pursue millennial customers

CBx Vibe:Notice Me” Migos

Move over Drake there’s a new “Champagne Papi” and it’s Virgil Abloh, he’s now blessing Moët & Chandon with his golden touch. The creative director of Louis Vuitton’s menswear has lended his talent to the brand, by designing a limited-edition bottle of their Nectar Impérial Rosé bubbly.

Why This Matters: The luxury wine and spirits brand isn’t expecting this collaboration to be a key sales driver, instead they want to harness Abloh’s social media influence. There is immense value in his combined social media reach of about 3 million people. More luxury brands are using the cultural energy of streetwear to pursue millennial customers. This demographic represented 85% of luxury growth last year and they demand unique and novelty things. For Abloh, this marks the designer’s first-ever liquor brand collaboration.

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