CBX Daily 2/5/2024

Author

Sabrina Lynch
February 05, 2024

Today, re-assess your contribution as the billion-dollar diet industry continues to sow, but let’s start with how black-led startups have fumbled funding three years in a row…

Now Playing:

Cultural Intelligence Download

Decoding The Three-Peat Plunge In Funding For Black-Led Startups

CBX Vibe

Capital flow for Black founders has been dwindling at the same pace as the financial community's commitment to diversify VC firms’ business portfolios. The stats are pitiful as eight out of ten venture capital firms lack any non-white representation. What's worse, Blacks still don't have a seat at the table due to racial biases. Four years ago, budding Black entrepreneurs were on the receiving end of funding reaching the heights of $850M to $1.2B. Now, startups can expect less than $324M, a major drop in financial backing, not to mention a massive blow to the unrealized revenue new Black businesses could contribute to the economy.

Is It Time To Stop Giving Your Coins To The $295 Billion Diet Industry?

CBX Vibe:

We live in obese world where diets have become trendy, they’re promoted everywhere, plastered right in your face. This industry of weight loss and weight management diet sector is expected to garner $295.3 billion by 2027, with people like you shelling out major coins to drop a few pounds. Is eating healthy and subscribing to the diet lifestyle really worth it for your bank account and scale?

Black Investors Are The Newest Heavyweights In The Stock Market

CBX Vibe:

Historical and systemic barriers might contribute to differences in access to traditional financial resources but blacks are changing this narrative by using the available resources for their development. A recent study found that over 50% of black investors showed a higher inclination to utilize social media groups or message boards for obtaining investment information, whereas only 25% of white investors exhibited a similar preference. These tools make researching, critically assessing, and buying shares easier. 

Dry January’s Silver Lining For The Alcohol Industry

CBX Vibe:

Every New Year, millions of people around the world embark on a month-long journey of self-improvement. One of the most popular initiatives is ‘Dry January’, a trend that encourages participants to abstain from alcohol for the entire month. After all, a significant portion of alcohol companies' consumer base abstaining from alcohol for an entire month could potentially lead to a significant dip in sales. While Dry January might seem like a sobering time for the alcohol industry, it's far from a financial dry spell. 

The Spotify Effect On Afrobeats' Global Rise To Prominence

CBX Vibe:

Spotify's (SPOT +0.05%) strategic foray into Nigeria and subsequent support of the Afrobeats genre has significantly impacted its global perception and reach. Afrobeats has emerged as a dynamic and distinct genre that represents African creativity and talent on a global scale. Even though Spotify officially entered the African market in 2021, it's already a genre to watch out for. In 2022, Nigerian artistes collectively earned a substantial $14 billion solely from Spotify's revenue.

Vibes of the Week

We’re going to need some “Clarity” to turn these losses to profits when it comes to black-led startups. 24kGoldn with a message in our CBX Vibes!