CBX Daily 12/23/2024

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CultureBanx Team
December 23, 2024

Today, we want to thank our awesome audience for continuing to love and support our unique take on business news told through a culturally attuned lens!!!

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Professional Santa's Holiday Earnings Continue To Level Up

CBX Vibe

From small businesses to parades, company parties and department stores dressing up as jolly old Saint Nick to spread Christmas cheer is a lucrative business. Despite the fact that St. Nick is a fictional character, Black Santa’s across the country can command nearly $400 or more per hour for their services. As the Christmas holiday rolls around again Black Santa’s remain booked, busy and sometimes hard to find.

Are Remote Jobs Enhancing Diversity Recruiting?   

CBX Vibe:

The creation of wealth within Black families is a struggle confronted with racial disparities in homeownership, business ownership, and wage gaps. Black workers' median annual wage is about 30% lower than that of white workers, according to a report from McKinsey, further widening the wealth gap. This issue, sitting at the intersection of business and culture, warrants urgent attention and action. 

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Black Families Ongoing Quest For Generational Wealth     

CBX Vibe:

The creation of wealth within Black families is a struggle confronted with racial disparities in homeownership, business ownership, and wage gaps. Black workers' median annual wage is about 30% lower than that of white workers, according to a report from McKinsey, further widening the wealth gap. This issue, sitting at the intersection of business and culture, warrants urgent attention and action. 

Money Is Pouring Into AI Startups, But The Profit Isn’t Coming Out For VCs          

CBX Vibe:

It’s rare to read headlines about startups raising millions in Venture Capital (VC) funding, without Artificial Intelligence (AI) being at the forefront of their product offering. That’s because the market for AI has been experiencing rapid growth, going from a valuation of $136.6 Billion in 2022, to an expected $1.8 Trillion by 2030. However, while funds are pouring into AI startups, not a ton is coming back out at the other end. In fact, last year, venture funds invested $60 billion dollars more than they collected - a record profit gap.  

Court Blocks Nasdaq Diversity Rules Challenging Corporate DEI Efforts              

CBX Vibe:

Wall Street's second-largest exchange now faces a dramatic shift in its push for diverse board leadership representation. Nasdaq's groundbreaking board diversity rules hit a major roadblock as the U.S. appeals court ruled that it could not impose rules requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not.    

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

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