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With the 2024 presidential election right around the corner, we are going to take a look at how the two candidates take drastically different stances on tech. Both Vice President Kamala Harris and former President Donald Trump have supported policies that would impact how the tech industry can or cannot do business for years to come. Kamala Harris’ Impact On The Tech Industry During her time as vice president of the United States, Harris backed three key pieces of legislation that have impacted the tech industry. They are the Bipartisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPS and Science Act. All of these acts were meant to spur different forms of economic growth here in the United States and bolster our own productivity vs. relying on foreign powers. The Bipartisan Infrastructure Bill in 2021 invested money into two categories of interest to founders and investors: energy and climate. In energy, some of the more notable companies would be the larger...
Everyone wants to know what “Black jobs” are after Donald Trump suggested that they’re on the decline during the first 2024 presidential debate. As the countdown to the 2024 presidential election is underway, Trump and current President Joe Biden are ramping up their approach to gain support from Black voters. During the debate, one key issue that Biden and Trump honed in on was the current state of the economy, particularly the job market, The Hill reports. “The fact is that his big kill on the Black people is the millions of people that he’s allowed to come in through the border,” Trump said during the debate on June 27. “They’re taking Black jobs now – and it could be 18, it could be 19 and even 20 million people. They’re taking Black jobs, and they’re taking Hispanic jobs, and you haven’t seen it yet, but you’re gonna see something that’s going to be the worst in our history.” Originally, CNN anchor and debate moderator Dana Bash had asked Biden what he has done for Black...
Musiq Soulchild penned a song with the lyrics, “Soon as I get my money right, I’ma take good care you.” While the neo-soul singer talked about the financial responsibility of supporting a romantic partner, there is a conviction in the song centered around taking the necessary steps toward financial health. The internet is bombarded daily with thoughts and ideas on obtaining wealth and what it means to get in your financial bag. And with the freedom the internet provides, there is little to no guidance on who can share what type of information. However, in the flurry of folks vying for attention, several people have the dedicated goal to offer practical, tried, and factual information that can take a person from where they are to where they want to be financially. The next time you seek advice around budgeting, investing, estate planning, and saving, here’s who you need to tap in with.
Grandma and ‘nem always told us, “there’s nothing new under the sun.” When it comes to racial biases and prejudices in the workforce, there’s a draining repetition of occurrences that never surprises Black and Brown folk. This phenomenon around racial biases against people of color is pervasive in the world, but it rears its ugly head in the job space quite frequently. From wage and payment gaps to a lack of professional development, Black and Brown people consistently face challenges that show great inequity in business and entrepreneurship. Carta — an ownership and equity management platform — releases a yearly report that explores the demographics and trends that highlight these issues, with some focus points on the ecosystem of venture capital and startup organizations. This year’s report from Carta explored some new assessment points like expanded geographic data, the effects of parenthood related to gender, and investor-specific demographics.
Since its inception, Stackwell Capital — founded by Trevor Rozier-Byrd — has been on a mission to close the racial wealth gap. Now, it’s one step closer. Starting Sept. 21, users can access its robo-investing app, which will enhance their knowledge of the financial markets, according to a press release exclusively provided to AfroTech. Courtesy of Stackwell Capital The application will target Black Millennials and Generation Z Americans and aims to create better outcomes by enhancing their power and growing their wealth in the financial market.
Stackwell Capital is working steadfastly to ensure Black Millennials and Generation Z Americans have the tools to create generational wealth. As AfroTech previously told you, the novel application founded by Trevor Rozier-Byrd, will introduce users to educational resources and automated model portfolios. The platform is engineered to empower the community and eradicate misconceptions or fears surrounding wealth building. Rozier-Byrd last told AfroTech that Stackwell Capital was working to adopt new measures that would incorporate financial literacy into Black communities. Stackwell Capital has stayed true to its word. The company has closed a $3.5 million funding round led by Michael Gordon, President of Fenway Sports Group; Jeremy Sclar, CEO and Chairman of WS Development; and The Kraft Group. CMFG Ventures Discovery Fund, Shea Ventures, SSC Venture Partners, Shorehaven Wealth Partners, and Theo Epstein, a consultant to Major League Baseball, also participated in the round, among...
Seeing residents from your area and the community itself thrive is what majority of people dream for. However, what ultimately makes that dream a reality is being right at the frontline for change. It’s the premise for what Broccoli City has been building in being a part of raising awareness about sustainability in Black communities. Over ten years strong, the Black-owned social enterprise’s co-founders Brandon McEachern, Darryl Perkins, Jermon Williams, and Marcus Allen have brought over 20 million millennials and Gen Zers together for the cause of creating opportunities for progress through the heart of music, art, and social impact. The mission has birthed one of the nation’s biggest entertainment events: Broccoli City Festival. After briefly being placed on pause due to the pandemic, the Washington, D.C.-based music festival is back on May 7 and May 8 for its eighth annual event. Broccoli City Festival’s lineup features some of the DMV’s very own, including Wale, Ari Lennox, and...
Learning how to properly budget your income is one of the building blocks for attaining financial literacy. With keeping up with bills and unexpected expenses, it can become easy to slip onto a path of neglecting taking action in creating a game plan for monthly spending. Here are budgeting and saving apps led by Black founders that guide you to keep track of your coins.
More communities will have a pathway towards financial freedom. According to a press release, Wells Fargo and Operation HOPE, Inc. have partnered to support underserved households. Soon community members will have access to the HOPE Inside program which will provide access to financial coaches, financial education workshops, and free personal coaching. The resources will empower communities along their financial journey. “We know from our outreach and work with national and community stakeholders that financial education and guidance, and an individual’s sense of inclusion and trust, are all important factors in bringing more people who are unbanked into the formal banking system,” said Darlene Goins, head of Wells Fargo’s Banking Inclusion Initiative, according to a press release. “Working with Operation HOPE is one important way that we can remove barriers to financial inclusion and help empower people with education, resources and tools to manage their money, improve their credit...
After raising $5 million in funding, Parfait is on its way to disrupting the wig industry with the help of technology. The women-led startup is said to be the first to integrate facial recognition and artificial intelligence to provide buyers with customizable wig products. According to a press release sent to AfroTech, the seed round was spearheaded by Upfront Ventures and Serena Ventures. Ulu Ventures, Unshackled Ventures, Contrary Capital, Visible Hands, TRUE Capital’s Culture Fund, Omar Johnson, Chamillionaire, Tristan Walker, and Upland Workshop participated in the round. “Parfait’s mission to leverage Al to solve core issues for both the tech industry and communities of color is something we, at Serena Ventures, have believed in since the beginning,” said Serena Williams, Managing Partner at Serena Ventures, in a statement. “She went on to say “It’s been inspiring to witness their incredible achievements so far, and we’re proud to invest in this next phase of Parfait’s...
Black Americans are losing out on a $68 trillion wealth transfer. But what can fix the problem? Planning ahead. “According to an analysis of high net worth and ultra-high net worth markets by consulting group Cerulli Associates, by 2047, trillions will have been passed down to future generations, and due to a lag in estate planning in Black America, Blacks might not actively transfer wealth to their descendants,” reads a new report in the Atlanta Black Star. Put simply, white Americans remain wealthier than other ethnic groups because they keep the money in the family. The Brookings Institute reports that on average, the typical net worth of a white family was $171,000 in 2016, which is nearly ten times the value of the typical net worth of a Black family (which only held a little over $17,000 in assets in 2016). And while the numbers haven’t jumped significantly in the past few years, Black Americans are missing out on whatever wealth they may be entitled to because of the lack of...
When the cast of “Love & Hip-Hop” set out to discover their roots, they thought they knew what to expect. But, as the recent special “Lineage to Legacy” revealed, Rich Dollaz, Yandy Smith-Harris, Karlie Redd, and Paris Phillips uncovered some of the most incredible surprises about their backgrounds — and realized that their backgrounds had many elements that can (and should) bring them pride. A recent report by The Washington Post revealed that the majority of Black Americans — that is, those who are part of the African diaspora, though common parlance suggests that they are ADOS or African Descendants of Slaves — cannot trace their lineage back further than the 1870s. That’s because prior to the end of the Civil War, Black people weren’t considered people in the eyes of the law. But thanks to advances in DNA technology, the cast of “Love & Hip-Hop” (amongst other Black Americans) are able to trace their genetic lineage back to Africa — and even if they don’t know the exact name of...