CBX Daily 11/21/2024

Author

Claire Moraa
November 21, 2024

Today, the UAE is leveraging Africa’s wealth, but let’s start with how budget cars could cause luxury ride death…

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Luxury Cars Take A Hit As Drivers Trade For Budget Rides 

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Unless you live under a rock, you may have noted that a good number of cars on the road do not exude luxury. In fact, vehicles priced over $100,000 have significantly dropped to nearly half in the last nine months. Consumers' preferences are shifting towards more budget-friendly options in the automotive market and cars priced between $20,000 and $30,000 have recorded a 44% increase. These numbers increase when we enter the used cars market as it reported a 62.6% year-over-year growth rate.  

How The UAE Is Capitalizing On Its Strategic Affair With Africa 

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The UNCTAD's World Investment Report 2023 revealed a significant decline in Foreign Direct Investment (FDI) for Africa, dropping to $45 billion in 2022 from $80 billion in 2021, representing 3.5% of the global FDI. Despite this decrease, greenfield project announcements increased by 39%. Greenfield investments are often seen as a way for companies to enter new markets, gain access to local resources, or diversify operations and Africa saw substantial investment in megaprojects. With six of the top 15 projects worldwide valued at over $10 billion each.  

Endeavor’s Investing Multiplier Formula For Unicorn Success 

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Successful entrepreneurs do more than passively inspire the next group of founders, they actively enable the next generation to overcome the barriers entrepreneurial success. This is why Linda Rottenberg, who co-founded Endeavor, a platform that has supported more than 2,600 founders globally, created the Endeavor Multiplier Effect™, which allows early successful founders to fertilize what will later become thriving unicorn-breeding grounds and multiply entrepreneurial success by a large factor.  

Tune-in Tuesdays!

Elon Musk was a chief campaigner for Donald Trump and now, he’s getting to lead the Department of Government Efficiency. Similarly, key supporters are also getting rewarded with top offices. But, is it about efficiency and impact? Are we witnessing a game-changing partnership, or is this just rewarding your friends?

A. "Started From the Bottom" by Drake – By supporting Trump’s vision and objectives, Musk secures his place in the inner circle, where connections and shared interests reward him with more power and influence
B. "No Role Modelz" by J. Cole – This is just another example of powerful men with unchecked ambition, seeking fame rather than a genuine impact
C. "We Are the Champions" by Queen – Musk and Trump might not be the traditional political duo, but their partnership could represent a new form of leadership, one that focuses on building a stronger, more innovative America

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like public opinion thinks weight loss drugs are simply a ‘Cover Up’ with no real impact.

LeBron's SpringHill Is Eyeing Merger With Grammys & Kardashian's Creators

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Los Angeles Lakers superstar LeBron James continues to build his legacy off the court with his media company potentially merging with the production studio behind “The Kardashians.” Founded in 2020 by James and sports-marketing businessman Maverick Carter, SpringHill is in talks to join forces with British company Fulwell 73, who produce the Grammy Awards and the unscripted reality show “The Kardashians.” The merger would be a big win for Fulwell 73 who experienced a $12 million loss, despite the success of several sports projects including Netflix’ docuseries Captains of the World, and Universal’s documentary about long distance runner Mo Farah. 

Americans Think They Need $200,000 A Year To Be Financially Comfortable

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“Financially comfortable,” the meaning is unreachable for many, especially when you consider Americans feel they need more than three times the median U.S. household income of about $71,000 a year to feel financially secure. A Bankrate survey found U.S. citizens want to earn over $200,000 a year to be financially comfortable. Considering the median household income for Black U.S. households in 2021 was $46,400 and more than 450,000 job cuts during the first half of 2023, the expectation of being financially secure feels out of reach for many. 

Vibes of the Week

Drivers are saying "Slow It Down" on luxury rides and embracing budget cars. The Kid Laroi and Quavo expound in our CBX Vibes!