When is the last time you used a Black-owned bank? Probably a long time, if ever. And now as other banks continue to improve and modernize, many Black-owned banks seemed stuck in time. And this could mean the end to the remaining 25 Black-owned banks in America. According to analysts 60 percent of Black-owned banks lost money in 2013. In 2001 there were 48 Black-owned banks.
How Black Wall Street & Bus Boycotts Can Inform Our Financial Future
As we continue to find our financial footing as a community, we can look back to Black models of financial excellence: where we used our money to make moves and establish business acumen as one to be feared and respected. Two key models were that of Black Wall Street and The Montgomery Bus Boycott; the former showcases Black business brilliance while the latter shows Black folk wielded their collective financial power for political progress and social good.
Chamillionaire Joins L.A. Venture Capital Firm As EIR
Chamillionaire has always presented himself as a smart cookie and his latest business merge with Los Angeles venture capital firm Upfront Ventures proves just that. Instead of mixtaping the world to death like some of his fellow rapper alumni, the Grammy Award-winning artist from Houston has landed himself a position as an entrepreneur in residence (EIR) for the hub that just landed the largest early-stage fund raised in L.A., to the tune of $280 million.