CBX Daily 7/26/2024

Author

Kori Hale
July 26, 2024

Today the counterfeit industry is raking in big bucks and making a killing, but let’s start with how Biden’s backing has Latino’s stacking…

Cultural Intelligence Download

White House Mobilizes $1 Billion In Capital For Latin American Founders

CBX Vibe

In a groundbreaking move from the White House $1 billion has been earmarked to fuel the dreams of Latin American entrepreneurs across the Western Hemisphere, with the launch of the Americas Partnership Investor Network. This massive injection of capital is set to shake up the start-up scene, promising to spark innovation and drive economic growth.

The Counterfeit Market Is Faking It Big As It Targets $1.79 Trillion By 2030

CBX Vibe:

In this lifetime, you've probably purchased a counterfeit product knowingly or unknowingly. Of course they're enticing because they're cheaper and look exactly as the original. On the downside, it widens the unemployment gap as 5.4 million jobs are lost globally due to counterfeit products. Unfortunately, job losses is just one of the side effects of this growing market. The significant expansion in the counterfeit market is fueled by consumers where in the U.S. alone, 80% of counterfeit shoppers reside.

Generative AI Has A $43 Billion Price Tag On Equity & Energy

CBX Vibe:

As the world increasingly relies on artificial intelligence, we must examine its implications for society, mainly through the lens of the Black community. Training large language models, such as OpenAI's GPT, demands enormous energy resources—nearly 1,300 megawatt-hours per model, equivalent to the annual electricity consumption of approximately 130 U.S. homes. With generative AI potentially consuming up to 33 times more energy than task-specific software, we are facing an environmental and societal crisis.

The Unseen Consequences Of AT&T's Data Breach On Minority Communities

CBX Vibe:

AT&T’s (T +0.13%) breach, which facilitated unauthorized access to sensitive information via compromised customer service channels, resonates with a chilling alarm about the dark underbelly of the digital age, where personal data can end up on the dark web at the click of a button. When it comes to data breaches they are often more problematic for people of color living on fixed or low incomes, raising serious concerns about digital equity and cybersecurity going forward. 

ATL Federal Reserve Chief Raphael Bostic Wants A Series Of Rate Cuts

CBX Vibe:

Atlanta Fed President Raphael Bostic expects the central bank's first interest-rate cut will be the first in a series of moves. Out of the 12 Federal Regional banks, Bostic is one of two Black people on the Federal Reserve’s policy setting committee with a direct say on U.S. monetary policy. Inflation as measured by the Fed’s preferred gauge was 2.7% in April over the previous 12 months, as consumer spending slows fueling his economic train of thought.

Vibes of the Week

”Yes” we can! Biden is making money moves and Big Sean shows us how it’s done with this bop. Get into it in our CBX Vibes!