CBX Daily 3/19/2025

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CultureBanx Team
March 19, 2025

Today, a wave of millionaires is setting sail, but let’s start with how retail sales in the U.S are growing frail…

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U.S. Retail Sales Decline Sharply Amid Economic Uncertainty 

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Retail sales in the U.S. saw a sharp decline in January, dropping 0.9%, the largest monthly decrease in nearly two years. This downturn reflects mounting pressure on the economy, as looming tariffs, persistent inflation, and extreme weather conditions continue to impact both businesses and consumers. Hurricanes, wildfires, and winter storms have disrupted supply chains, damaging retail infrastructure, delaying shipments, and limiting product availability.

Why There's A Millionaire Exodus & Their Next Destination                     

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There's a global wealth migration looming with 0.24% of the total global millionaire population planning to relocate in 2025. A good number of these high-net worth individuals are looking at UAE and Singapore as potential locations. With the murky waters in countries facing political and financial instability, the migration is imminent but on the bright side, the number of millionaires is always on the rise as in 2024, there was a 5.1% increase in the number of millionaires.

Is DeepSeek’s AI Model Challenging Silicon Valley’s Tech Monopoly?                    

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Silicon Valley has long dictated the rules of artificial intelligence, with OpenAI, Google DeepMind, and Anthropic pouring billions into developing foundational models. But DeepSeek, a Chinese AI startup, is shaking that status quo with a price tag that barely registers on the scale—just $5 million. For Black and Brown communities, this shift isn’t just about technology; it’s about what’s possible when you don’t have the backing of venture capitalists willing to write blank checks.

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LVMH is lifting the age limit for its CEO position, allowing Bernard Arnault to stay at the helm until 85. Is this a testament to his unmatched leadership and vision, or does it raise concerns about succession planning and the lack of a clear pipeline for young leadership at LVMH?

A. "Irreplaceable" by Beyoncé – Arnault’s leadership is seen as timeless, and LVMH believes his experience and vision are irreplaceable, making age just a number in the luxury empire’s success
B."Young Forever" by Jay Z & Mr. Hudson – LVMH doesn't see an immediate successor with the same level of vision, or that it prefers to maintain Arnault’s leadership during uncertain economic times
C. "The Show Must Go On" by Queen – This move highlights the challenges of leadership transition and filling C-suite roles which LVMH is not prepared for

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Last week’s results are in and it’s seems that turnovers in C-suite are just a phase ‘When You Believe’ in finding the right person

How Optimizing Modern Inusurtech For A New Generation Is Building Generational Wealth                   

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Insurtech is pivotal in reshaping financial opportunities for all communities who have contended with inadequate access to insurance services vital for wealth transfer. This intersection of insurance and technology has prompted Jay Maska, founder of Nonstop Financial and agency owner of Family First Life, to empower entrepreneurs in the insurtech space with the information needed to build multi-million dollar businesses. With 52% of the total U.S. population owning life insurance, there is a burgeoning opportunity for insurtech to democratize financial inclusion and secure generational wealth.

Snoop Dogg Goes Web3 & Finds A New Streaming Home                  

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Snoop Dogg is definitely a Godfather in the music industry and beyond because his catalogue keeps expanding. Aside from his numerous businesses, he is now dipping his toes in Web3 where he has just released a new track Spaceship Party and hopefully a new album under a new blockchain streaming technology–Tune.FM. These efforts are aimed at bringing transparency in compensation and giving artists more control of their revenue.

Vibes of the Week

U.S retail sales are “Still Bad” according to Lizzo in our CBX Vibes!