Cash App, Kendrick Lamar & Ray Dalio Are Banking On The Culture To Lure Gen Z

Billionaire Ray Dalio wants to know “What’s yo Cash App?”. The founder of Bridgewater Associates, which is the largest hedge fund in the world, is putting his money, power, and respect behind making Cash App the bank of Gen Z. This growing age bracket opts for financial technology for their banking needs more than traditional in person banking. With the Black community making up 13.8% unbanked and 31.1% of the underbanked group in the U.S., Cash App like so many in the business community, are banking on Hip Hop culture and Dalio’s connection with its major influencers to appeal to younger generations.

Investing In Culture: Black Thought, Lead MC Turned Venture Capitalist At $10.5 Million Fund

You can now add Tariq Trotter, more notably known as Black Thought, the lead MC of The Roots, to the growing list of influential people entering the venture capital space. He joins other notable musicians such as Nas, QueensBridge Ventures Partners, Jay Z, Marcy Ventures Partners and professional athletes such as Kevin Durant and Serena Williams, who are now using their financial and cultural capital to provide funding for Black entrepreneurs. He is now a General Partner with Impellent Ventures, a $10.5 million fund aiming to raise $50 million.

There’s An Incalculable Cost To The Black Youth Mental Health Crisis

We have moved into both a 24-hour life and news cycle with the aid of technology, and sadly, the only thing that caused the world to slow down is a pandemic that has exacerbated the mental health crisis with Black youth in our country. Amanda Calhoun, MD, MPH, recently wrote, “the mental health of Black American youth was in a crisis long before COVID-19”. A new CDC report highlighted the suicide rate for Black girls and women ages 10 to 24 increased more than 30% in 2020 and 23% among Black boys and men in the same age group, as the multi-billion mental health sector continues to thrive while leaving some people behind.

Corporate Shareholders Are Forcing Racial Accountability Up 61%

The demands for social reform have made it from the streets to shareholder suites. Companies are now being called upon by their shareholders to address race-related policies and practices that impact their workforce and the communities they serve. Bloomberg reported that the number of environmental and social responsibility shareholder proposals over the last 12 months jumped by 61% from a year ago among companies in the Russell 1000 stock market index.

Here’s How Homeownership Provides A Space For Your Family And Future To Grow

By Stephone Coward
– The Black homeownership rate is 30% lower than the 74% white homeownership rate
– Americans who owned homes had a median net worth of $255K, more than 40X the median net worth of renters Homeownership has traditionally been viewed as a way to ensure that your future generations have the resources to chart their paths to success. The blueprint has been: attend and graduate from college, land a good-paying job, get married, then buy a home where you can raise a family and pass it down to the next generation. However, the Black homeownership rate is 30% lower than the 74% white homeownership rate, meaning there are less homes to pass down in effort to help build up Black wealth.‍ Why This Matters: NPR reported, “for most American families, home equity is their largest asset.” Labor and supply shortages have limited the construction of new homes, making existing homes a premium item on the market. For homeowners looking to sell, rising home values can turn a home’s equity into money in your pocket to do things like start a business, sidestep the student loan crisis, or pass down wealth.

Glass Half Full: Bank of America Hiring 10,000 Workers From Communities They Do Business With

By Stephone Coward Bank of America plans to hire 10,000 more employee from Low-to-Moderate-Income communities by 2025 The Community Reinvestment Act requires banks to meet the needs of LMI communities they do business with Bank of America (BAC +1.57%) ended the third quarter of 2021 by announcing through its Pathway program launched in 2018, that

Justice System Fumbles NFL Concussion Case Following $1 Billion Settlement

By Stephone Coward A federal appeals court denied hearing the NFL concussion case its $1B “race-norming” settlement Former NFL players receive $200K if they have early-stage and moderate dementia In a stunning turn of events after the NFL’s $1 billion “race-norming” case settlement, a federal appeals court denied hearing an NFL concussion case, leaving the