CBX Daily 1/12/2024

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CultureBanx Team
January 12, 2024

Today SPACs are taking the heat as investments take a tumble, but let’s start with how 36 million Xfinity users’ data has been fumbled…

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Comcast’s Xfinity Hack Of Nearly 36 Million Users Could Disproportionately Impact The Black Community

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Comcast’s (CMCSA +0.09%) internet service arm, Xfinity, suffered a major data breach, compromising the personal information of nearly 36 million customers late last year. When it comes to data breaches they are often more problematic for people of color living on fixed or low incomes, therefore mitigating widespread damage from this data breach to these communities is imperative for Xfinity to restore consumer confidence.

Liquidation Season: SPAC Investors Returns Are Down 67%

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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

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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?

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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

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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.

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“Lovin On Me” should be your anthem as you take password security more seriously. Get into it with our CBX Vibes!