CBX Daily 1/18/2024

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CultureBanx Team
January 18, 2024

Today Latin tracks are stacking up, but let’s start with how Goldman Sachs is tapping into streaming backed by A.I…

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Goldman Sachs Turns Up Culture With Music Streaming And A.I

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Streaming and A.I. take center stage in Goldman Sachs (GS -0.75%) latest series of ‘Music in the Air‘ report, with estimates for industry revenues to reach $92 billion last year and increase to $151.4 billion in 2030. Currently music streaming sales are dominated by top R&B and hip-hop artists such as Drake, SZA, Kendrick Lamar, The Weeknd, Lil Baby and Cardi B. Music publishers and labels also stand to profit greatly from the rise of streaming, led by Black listeners who are the largest user group.

Muy Bueno! Latin Music’s Unstoppable Takeover Fiesta

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The popularity of Latin music worldwide has helped highlight the beauty and richness of the Hispanic community’s culture. It has influenced the rise of other Latin songs and artists, facilitating the growth of the genre on an international scale which has managed to surpass the $1 billion revenue mark with the upward trajectory expected to continue.

Inside Nvidia’s AI Woes: Riding High on Chips But Grappling With Inclusion

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As Nvidia’s (NVDA -0.41%) stocks surge to record highs, its generative AI products drew sharp criticism for the inability to recognize and account for people of color. In an industry where nearly three-quarters of companies struggle to mitigate biases in AI, Nvidia’s shortcomings are particularly glaring. Obvious blind spots in this regard jeopardize not only its corporate image, but the very fabric of AI advancement.

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.

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