CBX Daily 8/12/2024

Author

Claire Moraa
August 12, 2024

Today new investors take SPILL to new heights, but let’s start with how political spins are a cash cow for betting sites…

Cultural Intelligence Download

How Betting Sites Score Big On Political Upheavals

CBX Vibe

(S&P 500 +0.47%) can reportedly predict election outcomes with an 83% accuracy rate. Historically, bets have often been placed on events surrounding entertainment particularly sports. With the rise of online betting platforms and digital technology, their scope has greatly amplified and now includes bettors who stake their fortunes on an array of real-world occurrences, from reality TV show outcomes to papal elections, and even political events.

SPILL Brings New Investors Into Its Inclusive Social Media Conversation

CBX Vibe:

Culture-focused social media has emerged as a powerful force, reshaping the digital landscape and giving voice to underrepresented communities. That’s where social media app SPILL, a culturally relevant fun, safe, rewarding way for people to connect online through visual conversations, and its co-founder Alphonzo “Phonz” Terrell, is setting his platform apart. SPILL is using its latest capital injection from new investors bringing it’s total funding to $5 million, to further show how cultural moments are leveraged to boost engagement, advertising revenue and inclusivity.

Supply Struggles To Keep Up As Women's Sports Merch Tops $4 Billion

CBX Vibe:

The women's sports market has come a long way with a remarkable surge of $4 billion. However, even with a burgeoning demand for women’s sports merch, the availability and variety of merchandise remain insufficient. The situation is dire as 60% of women expressed interest in purchasing merch but were unable to because of little to no inventory. This highlights a missed earning potential in the market.

Supreme's Big Sale: A Billion-Dollar Shift In Streetwear

CBX Vibe:

After 30 years in business, Supreme is moving house to EssilorLuxottica (EL.PA -1.61%). This represents a significant transition for the iconic streetwear brand. Although this marks a decrease of $600 million from its previous valuation under VF Corporation's ownership, it presents an opportunity for renewed growth and innovation. Despite facing declining sales and inventory struggles, Supreme's enduring cultural impact and global resonance indicate the potential for a successful turnaround.

How Inheritance Is Changing The Faces of U.S. Billionaires Wealth

CBX Vibe:

With the ever-evolving landscape of wealth amassment, we're witnessing a significant shift from entrepreneurial billionaires to those inheriting wealth. The number of global billionaires has seen a 7% increase, totaling 2,544 individuals, according to a report from Swiss bank UBS. Their combined wealth has also risen by 9%, approximating a colossal $12 trillion. The impact of this change on Black wealth is an intriguing subject that deserves thorough exploration.

Vibes of the Week

Betting sites ”Run It Up” when political drama ramps up. Ciara and BossMan Dlow with a new one for this week in our CBX Vibes!