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The consumer boycott against Target will continue, according to Rev. Jamal Bryant. As AFROTECH™ previously reported, Target’s retraction of its three-year diversity, equity, and inclusion (DEI) commitments — which included ending a program designed to highlight Black and minority-owned businesses — impacted the company. Shareholders filed a lawsuit and Rev. Bryant led a 40-day consumer boycott, garnering over 200,000 sign-ups. The major retailer subsequently experienced a decline in its stock for at least eight consecutive weeks. “When we started this Target fast, … a Fortune 500 company was trading on the New York Stock Exchange at $138 a share. Because of how it is, that stridently you have put your hand to the plow, their stock started at $138 a share. As of Friday, it is down to $94 a share,” Bryant said Sunday, April 20, at his church, New Birth Missionary Baptist Church in Stonecrest, GA, reports The Christian Post. Furthermore, Target’s foot traffic decreased year over year...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Often, those who rank in seniority get to speak for the broader community. How long does that work though, and how long should it last? It’s a question that comes up whenever someone of a previous generation is asked to speak or is seen as a representative during a current crisis a community is facing. AFROTECH™ previously reported that after Target rolled back its commitments to DEI, the retail store has seen a decline in foot traffic for the past 10 weeks. Target was one of the brands that, in the wake of the murder of George Floyd in 2020, put a lot of time and money towards pushing for racial justice and diversity, equity, and inclusion across the board. After the decline, The New York Post reported that Target CEO Brian Cornell met with Reverend Al Sharpton about its DEI policies, but should Sharpton be the one speaking for us? Sharpton came to prominence during the 1970s with his focus on...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Trump’s tariffs have upended multiple industries. For bigger companies like Apple and Microsoft, or fast fashion behemoths like Zara, tariffs can be easily avoided by moving their distribution elsewhere. But for smaller businesses that don’t possess the same infrastructure, they don’t have that ability. Most Americans would agree that manufacturing should come back to the United States. Over the past decades, companies have moved their work abroad to take advantage of lower wages and the lack of unions that protect workers from abuses. In short, it’s easier to take advantage of the cheap labor offered in other countries like China, Thailand, and Vietnam. The whole system is inherently problematic, especially when we look at how workers in the United States are constantly berated and not treated properly. Moving manufacturing back to the states will also mean, unfortunately, that prices for goods...
As faith leaders, entrepreneurs, and policymakers navigate the fast-shifting terrain of artificial intelligence, automation, and digital globalization, few figures have leaned into this moment with as much intentionality — or complexity — as Bishop T.D. Jakes. Known to many as a pastor, to others as a media mogul, and increasingly to investors and technologists as an ecosystem builder, Jakes is reasserting his role at the intersection of innovation, equity, and cultural capital. This is where his ongoing initiative, the Good Soil Forum, enters the chat. The conference, which has convened business owners, technologists, creatives, and investors for years, positions itself as a gathering and a long-term infrastructure. It reflects Jakes’ emphasis on sustainability, access to capital, and the kind of practical knowledge often kept behind institutional gates. What has shifted recently, however, is not the mission — but the moment. When Technology Hits Close To Home For Jakes In 2024,...
A strategic partnership has formed to empower Black leaders. AFROTECH™ and The Gathering Spot (TGS) will be teaming up to scale AFROTECH™ Insider, a membership program designed to place participants on a track of excellence in tech and business through exclusive conversations and meetups, such as fireside chats, panel discussions, cocktail hours, and personal branding privileges, including priority for speaking events such as the annual AFROTECH™ Conference and PR opportunities. By teaming up with The Gathering Spot — a private-membership club bridging the gap between community and culture — AFROTECH™ will be able to provide greater resources, relationship building, and platforms to scale organizations for the membership community, which consists of Black executives, founders, and visionaries. “The Insider program was built for the modern executive who isn’t just leading teams — they’re shaping industries,” said Morgan DeBaun, founder and CEO of Blavity Inc. “Our partnership with...
Entreprenuership is a risk that Monique Rodriguez was willing to take on. Business Risks Rodriguez is the co-founder of haircare brand Mielle Organics, which she launched with the help of her husband, Melvin. She shares on the “Black Tech Green Money” podcast, hosted by AFROTECH™ Brand Manager Will Lucas, that her earliest risk in her entrepreneurship journey was walking away from a stable position as a registered nurse. Melvin also took a leap, leaving his corporate role. Together, they trusted in what they believed was a vision from God and created a blueprint that ultimately led to success. “We didn’t just leave our jobs and say, ‘Oh, we don’t have a plan in place or we don’t have income.’ We had to have a solid plan in place to map out how we were going to get some type of income to still keep our bills afloat and food in our kids’ mouth. So we had to plan that out. But it was a huge risk of the unknown, of both of us turning away from our jobs,” Rodriguez mentioned on the...
Twin brothers and co-founders Oliver and Alexander Kent-Braham are now behind a multi-billion-dollar company alongside David Goaté. As AFROTECH™ previously told you, the siblings founded U.K. -based digital car insurance startup Marshmallow to combat “unfair insurance prices” for migrants. “We now help 100,000s of UK newcomers get a fairer deal on their car insurance every year. We do this by building our own technology, developing pricing and fraud models that let us cater to their unique experiences, and investing time in getting to know them on a deeper level,” a statement on the company’s website reads. View this post on Instagram A post shared by Marshmallow (@getmarshmallow) According to TechCrunch, Marshmallow made history in 2021 as one of two Black-founded startups in the U.K. to reach a $1 billion valuation. As AFROTECH™ previously reported, the company raised $85 million in a Series B funding round with investors that included Passion Capital, Monzo, Investec, and...
John W. Rogers Jr. founded the nation’s first Black-owned mutual fund company and remains committed to expanding opportunities for other minority groups. Rogers comes from a family who upheld civil rights, fairness, and economic justice, he revealed in an interview with the SIU Paul Simon Public Policy Institute. It would be his father who sparked his interest in finance and economics. When Rogers was 12 years old, he received stocks as gifts for Christmas and his birthday. These included $200 worth of shares from companies such as General Motors and Commonwealth Edison, and he was able to pocket the dividends from those investments. “My dad was very insistent,” Rogers explained in the interview. “He wanted me to learn everything there is to know about the market, so he made me read the annual reports of the companies that were sent out every year, the quarterly reports that the companies would send out in those days, and I’d read about those companies.” His father also connected...
CoCo Gauff is on a mission to “take greater ownership” of her tennis career, starting with launching her own management agency. On Wednesday, April 2, Gauff, describing herself as an “athlete, entrepreneur, and changemaker,” announced the launch of Coco Gauff Enterprises. The initiative is supported by talent representation agency WME (William Morris Endeavor), which Gauff asserted has the “vision and resources to help me explore all of the opportunities ahead.” “From the moment I first picked up a tennis racket, I’ve always believed my purpose extended far beyond the court,” Gauff’s post said. “Today, I’m thrilled to announce CoCo Gauff Enterprises, a venture that reflects my passion for making an impact—not just in tennis, but in business, philanthropy , and beyond.” View this post on Instagram A post shared by Coco Gauff (@cocogauff) The venture marks the end of Gauff’s partnership with Team8, the boutique agency co-founded by former Swiss professional tennis player Roger...
Friday, April 4, 2025, marked the second consecutive day major U.S. stock indexes fell sharply, a downtrend that follows President Donald Trump’s recent tariffs announcement and China’s Friday morning declaration to impose a 34% duty on U.S. goods in retaliation. According to NBC News, significant market losses included Tesla , Elon Musk’s electric vehicle company, which fell by approximately 10%; agricultural equipment leader Caterpillar, down about 6%; and top AI chip manufacturer Nvidia, which declined by approximately 7%. The S&P 500 index, which tracks 500 leading U.S. companies, dropped more than 4%, down more than 16% from its peak. The Russell 2000 index, which follows stocks of smaller U.S. companies, plummeted by 5.3%. Global markets also experienced significant sell-offs, with European stocks declining 10% from recent highs and Asian markets facing sharp drops. After the market had closed on Wednesday, April 2, 2025, Trump announced from the White House’s Rose Garden that...
The global economy is not just shaped by technology or innovation — it’s governed by decisions made behind closed doors, often under the guise of economic strategy. One such decision, the imposition of tariffs, is anything but neutral. It is an instrument of pressure, a marker of priority, and increasingly, a reflection of geopolitical posture. Tariffs have reemerged as a centerpiece of American economic policy, not as quiet fiscal levers but as loud, disruptive statements. The Trump administration’s recent directive — a flat 10% base tariff on all imports and a sweeping set of reciprocal tariffs targeting nearly 90 countries — represents a radical reorientation of U.S. trade policy. In an interconnected world already strained by inflation, global supply chain challenges, and diplomatic fragility, these decisions matter deeply — and immediately. What Are Tariffs? At their core, tariffs are taxes on imported goods, imposed by governments to influence the cost and flow of trade. By...
Cost of Doing Business (CODB), the holding company co-founded by Topicals CEO Olamide Olowe and President Sochi Mbadugha, has acquired premium haircare brand Bread Beauty Supply. According to a news release, the acquisition is CODB’s first step in building brands that connect culture, community, and commerce — especially as many companies scale back their diversity, equity, and inclusion (DEI) efforts . “At a time when DEI commitments are being rolled back, it’s critical that Black-owned businesses not only survive — we have to win,” Olowe said. “Maeva Heim, BREAD’s Founder, is one of the most talented creatives in the space and has led BREAD to have a major impact in the hair care industry, and with CODB’s resources and expertise, we’re ensuring that it continues to grow while remaining deeply rooted in its mission and creative ethos.” Photo Credit: Gold Owolabi With Bread now under CODB, the brand is set for growth while preserving its commitment to textured hair care. The...
Tariffs on imported goods imposed by President Donald Trump will impact small business owners. AP News reports that the Trump administration has announced new tariff policies, including a 34% tax on imports from China, a 20% tax on imports from the European Union, and a 10% baseline tax on most imports. According to a press release from the White House, the 10% baseline will take effect at 12:01 a.m. EDT on April 5, 2025, while the countries with higher tariff rates will have to comply by at 12:01 a.m. EDT on April 9, 2025. Trump hopes to restore balance to global trade and believes imposing these tariffs will lead to billions in revenue for the U.S., AP News notes. “I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means they do it to us and we do it to them… This is one of the most important days in my opinion in American history,” Trump said during a “Make America Wealthy Again” event on April 2, according to...
Success comes with its moments, and Pinky Cole Hayes knows this firsthand. Cole Hayes is the mastermind behind Slutty Vegan restaurant, with seven locations, primarily in Georgia. As AFROTECH™ previously reported, the company’s market value was estimated at nearly $100 million by 2022, which included $25 million from a Series A funding round. Over the years, the company’s triumphs included expanding to Hartsfield-Jackson Atlanta International Airport and Spelman College, although the location at the HBCU has since closed. Cole Hayes has experienced roadblocks with the venture in 2024, and those challenges led to her losing the business, she told People. “Right now, in this moment, I’ve really been in a place of peace, but I had a really rocky 2024. Our corporate overhead was about $10 million,” Cole Hayes mentioned to People. “I was chasing something that I couldn’t catch for so many reasons.” Cole Hayes also acknowledged that she had not been “the operational person,” which has led...
Tisha Thompson is among the 2% of female founders who have successfully secured funding. Thompson launched LYS Beauty in 2021, a clean color cosmetics brand designed to serve a diverse range of skin tones and types, according to its website. Her journey in the beauty industry began during college when she worked as a makeup artist to support her education while studying accounting, Fortune reports. After earning her degree, she secured an accounting role at PÜR Cosmetics, where she quickly advanced through the ranks, eventually becoming VP of Marketing and Innovation. “During my tenure there, I wore a lot of hats, similar to what I do now as a startup founder. I helped to innovate clean beauty product development, supported brand management and marketing, and also oversaw finance and operations,” she told the outlet. Now, Thompson is successfully leading her own business and has stacked on wins since. This includes making history as the first Black-owned clean makeup brand to launch...