CBX Daily 1/11/2024

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CultureBanx Team
January 11, 2024

Today AI startups kick off the year with a bang, but let’s start with how the investment atmosphere is not looking up for SPACs with returns taking a plunge…

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Liquidation Season: SPAC Investors Returns Are Down 67%

CBX Vibe

The SPAC sector has been a major source of corporate finance in the U.S. According to the De-SPAC index, out of all the companies that have completed their deals, the returns are down by 67% with another 22% below the 2% mark. Companies that went public this way have lost more than $100 billion in market value.

Major Key Alert: Tech Startup Megatrends For 2024

CBX Vibe:

Invention and innovation used to be the cornerstone of America’s economy, but not when it comes to venture capital. These types of investments were created when the people of this nation had a powerful grip on its collective imaginations. However, VC and startup funding has dropped from the highs of 2021 and 2022 and that has meant a nervous time for many founders, for whom the runway is shortening and valuations are falling. In 2024, Silicon Valley is headed for a correction phase, as the days of recklessly writing checks to familiar founders will not fly in 2024.

Buy Now, Pay Later… Can It Help Raise People’s Credit Scores?

CBX Vibe:

With the rising cost of goods, people may feel that Buy Now Pay Later (BNPL) plans can help them buy products they need. Black (46%) and Hispanic/Latino (56%) communities have adopted using BNPL platforms at higher rates within the last year. Though most make their payments on time, the majority of people who use BNPL plans are in debt. Although these plans boast being able to help individuals raise their credit scores, many users do not access these plans for this feature.

The Rock’s XFL & USFL Merger Is Reshaping Spring Football’s Lucrative TV Rights

CBX Vibe:

Dwayne “The Rock” Johnson’s XFL and its rival spring football league USFL concluded their merger’s antitrust review process and are ready for kick off. This merger’s successful completion brings a new era in spring football with the joining of forces between Fox, which owns the USFL, and ESPN, which has the XFL’s media rights. As we await the new entity’s name, cities, and broadcast schedule, let’s delve into the implications of this development.

Why The Race Gap In U.S. Employment Is Fading For Workers 65+

CBX Vibe:

While progress has been made in closing the race gap in employment, there are still areas where disparities persist. One area of interest is the employment of workers aged 65 and over. In the last 10 years, the gap in the Black-white employment-to-population ratio, which measures the share of all employed workers out of the total working-age population, has diminished from 1.3 to 0.8 in this age group.

Vibes of the Week

Maybe “Protection” is needed in entertainment-backed SPAC investments just like Logiq put it in our CBX Vibes!