CBX Daily 5/20/2024

Author

Kori Hale
May 21, 2024

Today the music industry is revving up from a rap beef overload, but let’s start with how Nasdaq’s diversity battle hits a legal crossroad…

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Nasdaq’s Quest To Increase Board Diversity Faces New Legal Challenges 

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Nasdaq’s board diversity rule, aimed at enhancing corporate governance through diversity, faces significant legal and regulatory challenges. The U.S. Court of Appeals for the Fifth Circuit's decision to revisit a challenge to the rule highlights the ongoing legal debate, with constitutional prohibitions against discrimination and restraints on free speech at the center of discussions.

How Drake vs Kendrick Lamar Feud Boosts Music Revenues?

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Rap beefs keep artists on their toes and are essential in keeping the HipHop culture alive. In 2007, two big rap stars took the hip-hop beef tradition to lucrative heights. Kanye won by selling 266,000 more albums than 50 Cent that day, totaling over 1.6 million units combined, making the industry over $20 million in one day. The revenue of the U.S. music industry totaled $11.8 billion for the year.

Increasing Dollars To Black-Owned Sneaker Stores In $80 Billion Industry

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Black individuals consistently account for the share of America’s sneaker sales each year. However, Black retailers hardly profit from the industry’s increasing valuation that is expected to pull in revenues of more than $80 billion in 2024, as a result of being boxed out of the sneaker market by traditional establishments.

Microsoft Shuts Down Police Party At The A.I Playground

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We can all agree AI has revolutionized every industry but in the same breath, it has also perpetuated inequalities and prejudices especially in minority communities. One sector that has been hard hit with AI racial biases is law enforcement with at least six known people wrongfully arrested. And it's not just about prejudices, it has the potential to monitor, track, and surveil individuals without their consent. Without clear guidelines and standards, there is an increased risk of misuse, abuse, and infringement of individuals' rights.

Black Consumers Push Companies To Keep The Same Energy On Sociopolitical Issues

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Black consumers want brands to keep the same energy around sociopolitical issues, if they want to capture a larger share of their money. With the combined spending of Black households outpacing the growth rate of white households over the past two decades, at 5% vs. 3% respectively, Black consumers are a growing force to be reckoned with. Critically however, these consumers have shown to be more likely to take action, 58% vs. 50% of the total market, either via speaking out against or becoming a patron of businesses based on their political, social, and/or environmental stances. 

Vibes of the Week

Are you as “Confused” as we are on the diversity squabbles? Gucci Mane and Future with a banger in our CBX Vibes!