CBX Daily 3/7/2024

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CultureBanx Team
March 07, 2024

Today the strive to bridge the homeownership gap continues, but let’s start with how supplier diversity could be the key to thrive and keep the economy alive…

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Supplier Diversity Could Add $280 Billion To The U.S. Economy

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The U.S. economy is being called to task regarding the very top of mind subject of diversity, specifically when it comes to suppliers and vendors that could add $280 billion in extra income and four million jobs. A new McKinsey report “Expand diversity among your suppliers—and add value to your organization” found that the U.S. could reach these figures if spending with minorities and women increased.

Leveling The Unequal Playing Field In Homeownership

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Among the list of things in the American dream, homeownership stands as a significant milestone. However, the path to this dream is uneven, with Black and Hispanic homeowners often facing higher hurdles. Historically, systemic barriers and discriminatory practices have contributed to the unequal playing field in homeownership for Blacks and Hispanics.

Dinero Season: Is Tulum, Mexico Becoming The Money Mecca For Black Expats?

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Tulum, Mexico, is a paradise usually saturated on our Instagram feed with beautiful, mostly models and influencers showcasing their fun on beaches, in neutral beige-colored boutiques, and with rainbow-colored elixirs. Many don’t see the significant migration of Black expats seeking business opportunities in this Mexican utopia. In a country with nearly two million Afro-Mexicans, mostly in Guerrero, Oaxaca and Veracruz states, business opportunity abounds for Black people in the country.

Examining WW's Declining Stock Amid Oprah's Exit From Weight Watchers

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The business and wellness communities were both abuzz as Oprah Winfrey, an erstwhile titan at WW (WW +8.3%), formerly known as Weight Watchers, recently stepped down from the company's board. The iconic business woman transformed her 10% stake into a powerful spokesperson platform back in 2015, reshaping not just WW but the broader conversation on weight and health. Her exit comes at a pivotal time, with WW's stock tumbling 25% post-announcement and a new wave of weight loss drugs like Wegovy and Ozempic reshaping the diet industry's landscape.

Anti-Obesity Drugs Continue Gaining Traction In A $44 Billion Market

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Obesity stands as a significant public health issue in the United States, disproportionately affecting racial and ethnic minority communities. Approximately 71 million adults in the U.S., or one-third of the total adult population, were classified as obese. Particularly, the Black community bears the brunt of this health crisis as 49% of adults in this demographic qualify as obese. Over time, pharmaceutical companies have developed anti-obesity drugs, offering a glimmer of hope in a market that’s expected to reach $44 billion by 2030.

Vibes of the Week

Turning “Sticks and Stones” into building blocks of prosperity. Joyner Lucas and Conway the Machine seem to think so in our CBX Vibes!