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Black people have a long and complicated history with wealth. From free labor imposed by the shackles of slavery to the systemic challenges that still create hindrances to wealth accumulation, the complexity of money has become a pervasive norm for those in BIPOC communities. While there are countless examples of individuals who break down the barriers to accumulating wealth, there is still a hesitancy and trust with how Black people, particularly, deal with and invest their coin. Antiquated saving and investing methods, like a traditional corporate-sponsored 401k plan, still work. However, with the entry of digital currency and the technology of non-fungible tokens (NFTs), the options for investment are becoming more broad and accessible.
Looking to expose beneficial financial practices, Stackwell Capital will release a new application that will target Black Millennials and Generation Z Americans. Users will be introduced to educational resources and pre-built portfolios, according to information provided to AfroTech. The investing affinity application aims to eradicate the wealth gap for Black Americans. “Before founding this company, we fundamentally believed that the racial wealth gap is a social justice issue of our time that directly impacts many of the other gaps that have left people in the Black community feeling like they’re not set up for success in this country,” Stackwell Founder and CEO Trevor Rozier-Byrd told AfroTech. “Ultimately, I founded Stackwell to help more people in the Black community leverage the power of the market so that they could grow their wealth and have greater agency control to direct outcomes that better their lives, particularly those in the Millennial and Gen Z population where the...
Creativity and leading should go hand in hand, but some young CEOs struggle with this. Malachi Fuller, founder and CEO of Hyyer Creative Consulting Agency, shares his insight on how he maintains his creativity while leading a business at a young age. Hyyer Creative is a boutique creative agency that specializes in targeted content development and production, marketing, and strategy for creative entrepreneurs and businesses rooted in urban millennial culture. The Maryland native graduated from the University of Maryland in 2015 with a degree in criminal justice. Fuller moved to Los Angeles shortly after graduation, where he decided to make a big career change. “I had a strong background in entrepreneurship and creating content, so LA felt like the best place to grow and do something with that,” Fuller told AfroTech. Fuller said it took him some time to figure out what he was good at once he got to the west coast. Hyyer Creative was birthed from Fuller’s niche for photography,...
Generation Xers are emerging from the pandemic more wealthy and economically stable compared to other generations, specifically millennials. Reuters first reported this along with data collected by the U.S. Federal Reserve showing that members of Generation X saw their wealth jump more during Donald Trump’s presidential term and through the coronavirus pandemic. Generation Xers can be defined as those currently between the ages of 40 and 55; they come after the Baby Boomer generation, and right before Generation Y, also known as Millennials . Generation X hit a major turning point last year when its share of wealth, at 26.9 percent, passed its share of households which is 26.8 percent. But what does this mean? This means that Generation X’s wealth has surpassed the amount of households they account for in our population. Reuters coined Generation X as the ascendant generation because of this. When Trump took over as president in 2017, Generation Xers accounted for 34.6 million...
Free-trading app Robinhood has been under fire for over a week now after it halted purchases of GameStop stock last week. Though the creators behind the app pride themselves on making a platform for “investing for everyone,” Robinhood brings in a big community of Black millennial investors that may take their money elsewhere following recent antics. As a quick refresher, a group of young day-to-day traders called WallStreetBets caught wind of hedge fund short sellers in GameStop last month. WallStreetsBetts shared its findings on Reddit and ultimately promoted young investors in its group to invest in GameStop stock, driving the share price up by 134% at one point, CNN reports. This uptick in GameStop’s stock price costs those hedge funds up to $70 billion in losses , according to Reuters. As a response to this frenzy with GameStop, Robinhood temporarily halted purchases of GameStop stock and a list of other stock on its app last week to manage the risk of a stock market crash. As a...
There’s a huge demand for spaces dedicated to diverse communities. People of color and Black innovators have long since grown tired of the lack of inclusion in the professional space, and many are taking matters into their own hands. When opportunity is not present, it calls for changes to be made, and in today’s landscape of young professionals, it’s very much needed. Two millennial entrepreneurs wanted to create a space for Black leaders, but instead of fighting for a seat at the table, these optimistic innovators decided to build their own. Philly natives Rashaad Lambert and Vinasia Miles had a common goal in mind when they created For(bes) the Culture, which stemmed from their shared experiences at the 2017 Forbes Under 30 Summit in Boston, MA. “There weren’t a lot of people of color in attendance, but there also weren’t a lot of things geared toward people of color,” Lambert said. “We were invited but not included.” Miles often uses the analogy “there were only a few pepper...
Kyle Woumn — a speaker at AfroTech 2019 and a software engineer at Twilio — is no stranger to technology or the culture. If you take a look at the engineer’s LinkedIn, his tagline says it all. “I came up with that tagline, ‘Creating Dope Technology For The Culture,’ earlier this year because I was trying to think about who I am and the kind of work I wanted to do and put out into the world,” Woumn said. The world of technology is not new to Woumn. As an only child, born and raised in a traditional nuclear family in Atlanta, GA, he has always been a creator. His intense passion for learning and technology prompted his mother to enroll him in STEM summer camps in the Atlanta area at a young age. He attended youth programs at Spelman College and Georgia Institute of Technology. His enthusiasm for engineering persisted through high school and he eventually enrolled at the prestigious Georgia Institute of Technology to study computer engineering. However, he quickly found that his real...
Not many of us have the time to search through boring resume templates on Google only to finally choose a standard resume design. While searching for a style, you may think to yourself that you shouldn’t rock the boat with your resume style choices, right? Wrong. I know the struggle of trying to minimize your creativity — it’s real, especially for Black creatives and millennials whose only creative outlet on a resume is changing the font of the title to something with a little more sauce. However, there are other ways to remain creative yet professional. Here is a guide on how to be unapologetically you on your resume: 1. Consider the wording Leave your thesaurus at home. If you don’t use the word “ingenious” on the daily, then don’t try to impress the employer by using it now. Instead, use language that comes naturally to you. Show some personality! A cool approach to take is adding some conversational statements in your resume. For example, instead of dry bullet points underneath...