In Vogue: "Black Owned Businesses" in U.S. 👥

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The Startup Boom In Black Communities Is Heart-Warming

This week marks exactly one year since George Floyd’s death in Washington - the ignominious event that led to the resurgence of the Black Lives Matter movement in the U.S. Today, a year later, all those righteous protestors fighting against Floyd’s unjust demise will be happy to know how black communities in the country have been progressing. 

According to a recent research, Black communities, especially in higher-income neighbourhoods of New York City, Houston and Atlanta, have seen the strongest growth in new startups during the pandemic. In New York city, for example, Bronx and Brooklyn saw an increase in business registrations, as compared to Manhattan - a predominantly-white neighbourhood - which saw a decline in startups. 

We know that entrepreneurship in the U.S. has been on the rise since last year, but the fact that a large proportion of it is coming from black communities is somewhat shocking!

This is because when the pandemic hit, unemployment rates among Black people were double that of the White people. Meaning, their pockets were tighter than the others during the last year. Plus in the past, Black people’s economic progress has been stagnated by impediments in acquiring loans or finances. The primary barrier to black owned businesses is the ability to get initial capital.

So what's changed now?

One, the research found that economic relief packages passed last year were followed by a surge in startups in the following weeks. It seems these stimulus packages have given black communities the opportunity to realise their startup drive despite the racial bias in entrepreneurship. 

Second, people seem to think that the George Floyd incident and the BLM have made it an asset to be a small, non-white business in the country. In several cities, startups are advertising themselves as “a Black-owned business” - a branding that advertising agencies would’ve rejected in a heartbeat in the past. 


The Hottest Romanian
Startups of 2021

The Romanian economy is buzzing with startups. So we've compiled a list of the top startups in Romania to keep an eye out for in 2021. 

China's Coal Smog Over Bitcoin 

China’s crypto crackdown shouldn’t have come as a surprise. The country has been showing a disgruntled mood over the crypto industry for a long time now. It is believed that the authorities decided to take the fateful action after a spike in electricity consumption from Bitcoin server farms. But the truth is far from this. 

China has made a serious pledge to reduce its carbon footprint in the coming years. And its burgeoning coal mafia has not only made it difficult to fulfil that pledge but also threatened its hold over its own economy. 

China, Coal and Bitcoin - the basics 

Seeing how Bitcoin is the product of fossil fuels, the industry has opened gateways for the coal mafia to thrive. The rising coal demand for mining has prompted Bitcoin farmers to restart idled mines without official approval, leading to higher safety risks and exorbitant levels of coal emission. China - the world's biggest coal miner and consumer - produced 3.84 billion tonnes of coal in 2020, as pr data from the National Bureau of Statistics.

Source: Bp World Energy Statistics Yearbook

And its not enough that these farmers have formed a ghetto to acquire coal, the local authorities have also joined hands in the illegal occupation, thus adding to their power and influence. 

Authorities in some remote areas have already been running illegal set-ups. One such area is in the famed Xinjiang region - which alone accounts for 36% of the global mining industry. 

On April 17-18, when the area was hit by a flood, the resulting blackout halted about one-third of all of Bitcoin's global computing power. This incident not only underscored China’s dominance in the mining business but also proved the government’s fears true. So much mining dominance concentrated in such a small area raises huge security concerns. 

Looming fears of a powerful mafia and obedience by local governments thus prompted the country to take to banning.


Learn About Scandinavia's Effective Leadership Culture
The Nordics are the biggest unicorn factory in the world. Why's that? It's because of their impressive leadership style. 

How To Retire At 28 With $2 million
28-year-old JP Livingston (pen name) is already retired and has a corpus of $2.25 million to live out the rest of her life. At first, this may seem like a one-off story of someone with a fascinating invention selling off her business to some big corporation. But Livingston's story is far from that. 

She's just another common girl living a run-of-the-mill life like most of us. Her wealth and early retirement are entirely credited to her sought after investment decisions and lifestyle. That's right, read and ponder over how this 20-something New Yorker made money working the corporate life for 7-years and now lives in a van with her husband and dog. 
How to Allocate Ad Spends Across SM Platforms
Advertising on social media can be like minefield and getting your strategy wrong can be damaging to your business. Here's some sought after advice to get the most out of your advertising budget. 

Shorts
  • McDonald's at Altamont, Illinois is offering free iPhones to employees in a bid to recruit new workers post the pandemic. 
  • Walmart uses racist slur in its welcome email to new users - calls them the N-word. 
  • Bitcoin founder - Satoshi Nakatomo - will have a life-size bronze statue with a reflective mirror in Budapest. 
  • Google will now let you password-protect your search history page - no one can access your web activity without your permission. 
  • Trade between UK and EU fell by 23.1% after Brexit transition - exports to Ireland suffered the sharpest decline. 
  • In line with the big media consolidation trend - Amazon is acquiring the 100-year-old MGM Studios for $8.45 billion.
  • Now for some depressing news - the use of antidepressants increased by 6% (record levels) during Covid. 

Stash Recommends: Tools to Explore
Fiverr Business: A powerful workspace that provides startups with a curated marketplace of freelance talent in over 500 categories, 24/7 live chat, and collaboration tools.

Sync: A tool that lets you access and share all your files across multiple devices. With its robust security, you can ensure that only you have access to your data.

Kalo: A freelance management system that helps onboard talent, assign work, track invoices and pay freelancers.

Adaptive Planning: An enterprise management software designed to upgrade your planning, budgeting and forecasting so that you can make better decisions faster. 

How To Build User Lifetime Value For Your Startup
After designing and developing more than 100 apps we’ve learned that user value is one of the most important stats you need to know. 

 
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