CBX Daily 3/8/2024

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CultureBanx Team
March 08, 2024

Today supplier diversity could be U.S’s economic savior, but let’s start with how insurance tech is crafting wealth to savor in the future…

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Tapping Into Insur-Tech For Creating Generational Wealth

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Insur-tech, is pivotal in reshaping financial opportunities for marginalized communities who have contended with inadequate access to insurance services vital for wealth transfer. This intersection of insurance and technology has prompted serial founder and motivator Shawn Meaike to empower entrepreneurs in the insur-tech space, to not only build seven figure businesses, but also strengthen their communities. With 52% of the total U.S. population owning life insurance, there is a burgeoning opportunity for insur- tech to democratize financial inclusion and secure generational wealth.

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.

Vibes of the Week

“I Will” is our new anthem as we tap into generational wealth. Central Cee with a bop in our CBX Vibes!