CBX Daily 1/22/2024

Author

Keyanna Harper
January 22, 2024

Today the unfair student debt burden carried by black women is on display, but let’s start with how a market sway has art collectors rearranging their portfolios…

Now Playing:

Cultural Intelligence Download

Art Collectors Trim Their Portfolios Amid The Shifting Market Landscape

CBX Vibe

Art collectors are adjusting their investment strategies downwards because of the unpredictable and ongoing economic changes. 2023 saw them slash their investment portfolios to 19% from 24% in 2022. This takes a toll on the already declining Black artists’ representation in global auction sales which currently stands at at 1.9% from 2008 to mid-2022.

The $1.6 Trillion Student Loan Debt Disproportionately Weighs On Black Women

CBX Vibe:

When the Supreme Court decided to block President Joe Biden’s student loan debt relief plan, it left well educated Black women across the country to bear a heavy financial toll. Black women own a disproportionate amount of the $1.6 trillion federal student debt total, with higher debt averages than any other demographic. These melanated and highly educated Black women have 43% more undergraduate debt than their white women counterparts.

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

CBX Vibe:

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

CBX Vibe:

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

CBX Vibe:

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.

Vibes of the Week

Holding on tight to that "Dinero” in the Arts world. Jennifer Lopez opening up our CBX Vibes!