CBX Daily 12/13/2024

Author

CultureBanx Team
December 13, 2024

Today, low-skill jobs are under threat due to automation, but let’s start with how SPAC returns continue to slide amid liquidation…

Now Playing:

Cultural Intelligence Download

Liquidation Season Continues As SPAC Investors Returns Are Down 67%  

CBX Vibe

SPAC (special purpose acquisition company) sector has been a major source of corporate finance in the U.S. Currently, 85% of some 300 SPACs that completed reverse mergers though 2022 are trading below their IPO price. The rising tide of a raging bull market since mid-2023 hasn’t lifted the SPAC boats. Companies that went public this way have lost more than $100 billion in market value.      

Could Robo-Replacements Be The End Of Low-Skill Jobs?                  

CBX Vibe:

The rapid rise of work automation is growing at an unprecedented rate and is now affecting even low-skilled workers with 47% of workers facing job displacement in the next decade. Research shows that when robots are introduced in various industries, job transitions to better-paying roles become reduced significantly. Robots are not just replacing jobs, they're also reducing the overall career value and opportunities for upward mobility for low-skilled workers. To add salt to the injury, the unemployment rate is steadily increasing jumping to 4.2% from 3.7% in 2023.      

Exploring The Rising Tide Of Billion-Dollar Weather Events                

CBX Vibe:

Climate change is causing insurance premiums to soar, leaving many homeowners struggling to keep up. The rising frequency and severity of extreme weather events is causing many insurers to withdraw from high-risk markets altogether. In fact, some areas are becoming effectively ‘uninsurable’. In 2024 alone, the U.S. experienced 24 of these billion-dollar disasters, including hurricanes Beryl, Helene, and Milton. These events are unfortunately part of a troubling trend; 2023 saw a record 28 billion-dollar disasters, with total costs reaching $165 billion.      

Tune-in Tuesdays!

There’s a rising trend of internet and social media shutdowns in Africa. Is this about curbing unrest or a desperate move by governments to suppress dissent and control freedom of expression?

A. "Game" by Vanessa Mdee – Governments are playing a dangerous game citing that shutdowns are in the interest of national security to prevent potential chaos fueled by online mobilization and misinformation
B. "Stamina" by Tiwa Savage, Ayra Starr & Young Jonn – While these shutdowns might be temporary, the African public's resilience and creativity are endless. Governments can't suppress the need for communication and freedom forever
C. "Insecure" by Sauti Sol – These shutdowns are a clear indication that African leaders are afraid of the power social media gives the people. It’s a last-ditch effort to maintain power in an era of digital activism

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

A  |  B  |  C

Login or Subscribe to participate in polls.

Last week’s results are in and it looks like there will be ‘New Rules’ as people have more faith in BRICS than Trump's threats.

Investing In The Next Wave Of Children's Mental Healthcare Access              

CBX Vibe:

Money meets mission in America's latest healthcare frontier. Currently, 1 in 5 children experiences a mental health condition, while more than 50% of these young patients cannot access appropriate care. It’s numbers like these that have sparked a gold rush among investors like Khadijah Robinson, General Partner at Fictive Ventures, to support entrepreneurs like Hafeezah Muhammad, CEO of Backpack Healthcare, an A-I driven mental health platform for children, to transform the industry into a catalyst for innovation and representation.      

Latino Underrepresentation In Hollywood Is Leaving Profits Behind            

CBX Vibe:

Despite Latinos comprising nearly 20% of the U.S. population, their visibility in media remains shockingly low. A recent study by the USC Inclusion Initiative examined 1,600 top-grossing films from 2007 to 2022 and found that Latinos held just 5% of lead roles in major films. Behind the camera, the situation is similarly bleak, with only 3.5% of casting directors identifying as Hispanic or Latino. These disparities are not just cultural oversights—they represent a significant missed financial opportunity for the entertainment industry.     

Vibes of the Week

It may not be "Touchdown" for the SPAC sector as liquidation season dampens returns. Lil Baby tells us more in our CBX Vibes!