CBX Daily 8/13/2024

Author

CultureBanx Team
August 13, 2024

Today betting sites are capitalizing on the people’s political position, but let’s start with how Black entrepreneurs are moving from vision to mission…

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Are Black Entrepreneurs The Architects Of America's Prosperity?

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Reflecting on the journeys of Black entrepreneurs underscores the enduring resilience and profound impact they have made on America's economic fabric. From Frank McWorter to Madam C.J. Walker to Robert F. Smith, and everyone in between, let’s explore the lives and legacies of the Black entrepreneurs who are redefining the essence of American prosperity.

How Betting Sites Score Big On Political Upheavals

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(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

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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

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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

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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.

Vibes of the Week

Black entrepreneurs walking the talk by being ”Active” in designing the prosperity path. Asake and Travis Scott team up for this tune. Get into it in our CBX Vibes!