CBX Daily 5/14/2024

Author

Gary J. Nix
May 14, 2024

Today crypto disputes are about to be legally shelved, but let’s start with how Black celebs are culture maestros and where influence thrives…

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Defining Culture: Why The Epicenter Of Influence Lies With Black Celebrities

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At the epicenter of influence a recent study by Morning Consult revealed that Black consumers are more likely to heed brand advice from Black celebrities, than the public as a whole. While that may not be all too surprising, when analyzing this study’s data, we can learn more about all of the factors that make up true influence. Especially when you consider that 50% of Black consumers trust Black celebrities, athletes & influencers for brand advice.

Former FTX CEO Now Cooperating In $11 Billion Crypto Lawsuit Against Steph Curry, Shaquille O’Neal & Others

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The $32 billion collapse of cryptocurrency exchange FTX has caught a couple of current and former athletes in its crosshairs. Now, FTX founder Sam Bankman Fried has agreed to cooperate in the $11 billion class action lawsuit against Shaquille O’Neal, Steph Curry, Tom Brady and others investors, according to Bloomberg. This begs the question; should these sports celebrities who brought instant credibility to FTX, be held just as culpable as the company’s itself?

Weighing The Financial And Mental Costs Of Higher Education

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The financial weight of higher education is mentally draining Black Americans with student loan debt. A recent survey conducted by ELVTR, revealed that 54% of respondents said their mental health struggles are directly related to student loan debt. Nearly two-thirds of those polled can barely afford or can’t afford their loan payments at all, with minorities like Black borrowers facing the most debt.  The financial strain, emotional burden and mental distress of student loan debt begs the question, is it all worth it?

There's A Blockbuster Blind Spot And It's Worth $30 Billion

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For years, Hollywood has thrown in the same films on our screens deliberately or subconsciously ignoring other diverse cultures. Hollywood on its own makes bank. For instance, in 2023, the global box office generated $33 billion in revenue. And even though it does generate a significant amount of revenue, there is a gap in the market. This blind spot arises from the failure of Hollywood to adequately engage and represent diverse communities, resulting in substantial financial losses.

Can Lease-To-Own Housing Programs Increase Black Wealth?

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Homeownership is an important step to bridging the racial wealth divide. If Black homeownership matched white homeownership, Black wealth would increase by almost $40,000, bridging racial wealth inequality by about 30%. With current mortgage rates the highest they have been since 2008, and the number of homes for sale nationally plummeting, an alternative path to homeownership may be leasing to own your future home.

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“The Greatest” culture commanders are Black. We know it and so does Key Glock. Get into it in our CBX Vibes!