CBX Daily 6/26/2024

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CultureBanx Team
June 26, 2024

Today AI’s flaws have been laid bare, but let’s start with how DEI initiatives in a crisis in a new anti-woke affair…

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Shareholder Activism Threatens DEI Initiatives In The Anti-Woke Uprising

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Multiple conservative groups across the country are filing proposals to challenge environmental, social, and governance (ESG) initiatives. That includes Diversity Initiatives, hard fought to get established in the first place. The main argument put forth by anti-woke activists is to return the focus to what really matters - the financials, the profit, the green. They also claim to be taking on the politics and partisan influence in these companies. The most prominent player in the anti-ESG movement is the National Center for Public Policy Research; filing 57 anti-ESG proposals in 2023 alone.

Ex-Insiders Sound The Alarm & Expose AI's Shortcomings

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The future appears to be truly vibrant as the world continues becoming imbued with artificial intelligence. With this immense growth comes severe ethical and legal issues. Former employees cum whistleblowers now say AI companies, driven by financial incentives, are prioritizing profitability over implementing effective safeguards. This pursuit of monetary gains, they contend, has overshadowed the pressing need for rigorous oversight mechanisms to mitigate the potential risks posed by advanced AI systems.

Black Homeownership Is Experiencing The Smallest Wealth Gains

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Overcoming the challenge of devalued properties in predominantly Black and affordable neighborhoods requires new strategies for building wealth. A new study from the National Association of Realtors indicates that it remains harder for Black homeowners to achieve the same wealth gains in homeownership that other groups do. Furthermore, they experienced the smallest wealth gains among any other racial or ethnic group, accumulating only $115,000 in housing wealth in the last decade. 

Reading Rainbow: Black Comic Books Big Role In The $22.4 Billion Market

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All Negro Comics, created by Orrin Cromwell Evans and four others in 1947, paved the way for companies like Milestone Media founded in 1993 that now have their place in the DC universe with Warner Brothers investing in a live-action Static Shock film produced by Michael B Jordan. The comic book that was once 15 cents an issue, is now valued at approximately $20,000 today, as the global comic book market size was valued at $14.6 billion in 2021 and is poised to grow $22.4 billion by 2030.

Black-owned Luxury Resale Is Tapping Into The $68 Billion Market

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We see flashy luxury staples on our favorite rappers, athletes, and influencers. They are draped with logos and bling while they hop into their uber-expensive Italian vehicles. Balenciaga, Chanel, and Dior are luxury brands, among others, that make up the 2022 $331.6 billion market, expected to reach $429.4 billion by 2028. The concept of ‘Conspicuous Consumption’ which is the consumption of luxuries to enhance one’s prestige could be supporting more Black-owned luxury brands to get a bigger piece of the retail pie. 

Vibes of the Week

This current “Wave” of shareholder activism is heating up. Asake and Central Cee team up to deliver this banger. Get into it in our CBX Vibes!