by Pharron Fields | Sep 5, 2023 | Business News, Latest, Tech News |
Image Credit: Photo by Per Lööv on Unsplash
Teamshares: A Novel Approach to Business
First on our list is an intriguing venture by Teamshares. This startup has been attracting a substantial amount of capital and has embarked on an ambitious mission of acquiring numerous small and medium-sized businesses (SMBs). However, this is merely the tip of the iceberg. Teamshares also plans to offer its employees the opportunity to earn stock through prolonged service, while simultaneously providing centralized fintech services to all its subsidiary companies. This novel business model has ignited much discussion in the startup community.
MoonPay: Stepping into the Venture Game
Next, we turn our attention to MoonPay, a crypto payment infrastructure company that is venturing into the world of investments. MoonPay is setting its sights particularly on crypto, gaming, and fintech. The confluence of these three sectors invariably leads to crypto games. We are keenly observing MoonPay’s investment decisions, as new funds that are crypto-themed or crypto-adjacent are becoming increasingly scarce. Therefore, MoonPay’s entry into the market is indeed exciting news.
Rent Butter and Kiki: Revitalizing Renting
With the zero interest rate era drawing to a close and the experimental phase of building new iBuying and mortgage service startups partially concluded, renting is back in vogue. Consequently, startups that focus on rentals are also gaining traction. Two such startups are Rent Butter and Kiki, both of which are making waves in the rental market.
The Elusive Tech IPOs
The long-awaited tech IPOs have been more elusive than anticipated. Using data from Crunchbase, we have noted the extended wait for authentic tech IPOs. The good news, however, is that they are gradually making a comeback.
Lean Startup Ideology Meets AI
Lastly, we explore what happens when the lean startup ideology infiltrates the realm of Artificial Intelligence (AI). As it turns out, this combination leads to an abundance of experiments.
And with that, our roundup of this week’s most significant startup and tech news concludes. Please note that due to an American holiday, our next episode of Equity will be broadcasted on Tuesday instead of Monday. Until then, keep innovating and stay tuned!
by Jonathan P-Wright | Jan 5, 2022 | Black Girl Magic, Black Owned Business, Business News |
How Black Entrepreneurs are Generating Wealth in Technology for Generations to Come
Modern-day black entrepreneurs are disrupting major industries across the world, from Silicon Valley to Hollywood. In this article created for our Entrepreneur Spotlight Series, we aim to find out more about how these influencers have been able to generate so much business for themselves and others in the technology industry.
How technology has impacted the black community in the past
While there’s been a surge in the number of black-owned tech companies, technology hasn’t always been good for the black community. In fact, it was at one point destroying it–perhaps not on purpose, but still. There was a time when black Americans were very dependent on information and data from newspaper and media outlets to inform them and make decisions about everything from healthcare to how they spent their money. Today we have the platforms we need to access this content ourselves and learn more about what we want and how to achieve it.
Technology isn’t just a means of spreading information. It’s become a brand and a tool that has enabled many to be innovative in ways never seen before, including those working on the sidelines of media.
The black community is more conscious about representation in media, entrepreneurship in the content creation space, and information about black culture than ever before.
Black entrepreneurs are generating wealth in technology for generations to come
Black entrepreneurs are fighting to redirect the negative stigmas that surround them. These recent graduates are no longer content with being on welfare or cutting on means; they are forging new opportunities to develop security for themselves and their communities on their own terms.
Technology is one of many tools these entrepreneurs are utilizing to create this change, developing innovative products and solutions via mobile phone apps, cloud computing, drones, sensors, 3D printers are just some of the topics discussed during the 21st Century African-American Entrepreneur Awards event hosted by Heineken on June 13th.
Entrepreneurship plays a significant role in economic prosperity
Black entrepreneurship is a significant and essential vehicle for economic prosperity, both now and into the future. Black-owned businesses generate approximately $34 billion in sales but hold only one percent of general contracting jobs. That statistic demonstrates the necessity of following up on roots, opposed to placing all one’s business eggs in baskets outside of oneself.
For many African Americans, entrepreneurship is the best way to obtain economic prosperity. It gives you complete control of your resources and what you are producing, but it also allows you to set your own goals. This can make a big difference in achieving goals mainly because it will be defined by the entrepreneur’s true desires. For African American entrepreneurs who choose business ownership, food service or retail are two of the most popular industries.
It’s a little-known fact that well over half of tech start-ups today are founded by women, despite the statistics that tech is no longer a field mostly dominated by men. Operating out of Silicon Valley to tech meccas like Detroit and New York City, tech sector entrepreneurship has been rising as an area of interest for many disparities. Tech entrepreneurs now make up the third-largest economic sector in Detroit alone.
This article was penned by Jonathan P. Wright. Jonathan is a freelance writer for multiple mainstream publications and CVO of RADIOPUSHERS. You can read more of his work by clicking here.
by Pharron Fields | Jun 7, 2021 | Business News, Digital Mogul, Latest |
FORMERLY THROWN AWAY AT A DUMPSTER, FREDDIE FIGGERS BECAME A MILLIONAIRE TECH ENTREPRENEUR DESPITE ALL ODDS
It doesn’t have to be your circumstances that define you.
Freddie Figgers found out when he was eight that his biological mother abandoned him near a dumpster shortly after he was born, according to BBC News.
“Listen, Fred, I’m going to tell you the truth. I adopted you out of foster care because I didn’t wish to send you through foster care.” Freddie recalls his father telling him, “You are my son.” Your biological mother threw you away, and you and Betty Mae adopted you out of foster care.
He describes the thoughts that went through his mind after finding out that his adopted parents found him near a dumpster.
He told me that and I felt unwanted and that made me feel trash.” said Freddie. I remember he grabbed my shoulder and said, “Listen, don’t ever let that bother you.'”
Although Freddie continued to be plagued by the circumstances surrounding his adoption throughout his youth, he persevered.
I was called a lot of names when I was younger, including ‘dumpster baby,’ ‘trash can boy,’ ‘who wants you,’ and ‘you’re dirty.'” said Freddie.
In 1989, Nathan and Betty Mae were living in Quincy, a rural community in North Florida, when Freddie was born.
After fostering many children, they chose to adopt Freddie when he was just two days old.
It was always my father’s intention to help others, stopping by the roadside to help strangers and feeding the homeless, he said. The reason I wanted to be like him was because he adopted and raised me.”
In the meantime, Freddie and Nathan would do “dumpster diving” on the weekends, looking for old things that could still be useful.
Freddie wanted a computer.
“I was always fascinated by computers, and there is an old saying that ‘one man’s trash is another man’s treasure. During that time, gateway computers weren’t in our budget.”
At the age of nine, Freddie found a broken Mac while browsing in a Goodwill store with his father. The rest is history.
“When I got home and the computer wouldn’t turn on, I took it apart,” said Freddie.
His determination would not let up until he was able to get the computer up again.
“When I inspected it, I found some damaged capacitors. Using parts I had from my father’s radio alarm clock, I built a circuit board.” I used my father’s soldering gun and I also had radios and alarm clocks.
A few attempts later, the computer powered on, and Freddie was convinced that technology was what he wanted to do the rest of his life.
In today’s world, Freddie Figgers is a millionaire inventor of inventions that include a GPS tracker, designed as a result of the Alzheimer’s disease his father, Natham, suffered from.
Within a month of selling the tracker rights, he lost his father.
Freddie continues to break into the tech industry, and he is married to attorney Natlie Figgers. Instilling this advice into their daughter is something he says he will do together as a couple.
The world may seem cold, but you must never give up.
The trajectory of Freddie Figgers’ life could’ve been very different if he’d given up.
He also offers this piece of advice for others: “Don’t allow your circumstances to define you.”
This article was penned by Jonathan P. Wright. Jonathan is a freelance writer for multiple mainstream publications and CVO of RADIOPUSHERS. You can read more of his work by clicking here.
by Jonathan P-Wright | May 26, 2021
by Pharron Fields | Apr 7, 2025 | Business News, Latest |
Photo by Alexander Shatov on Unsplash
Spotify has always been a unique app in the world of digital media, offering a space where users can engage with content in a more deliberate and focused way. As other platforms capitalize on endless scrolling and sensational content, Spotify is striving to differentiate itself from the noise and chaos of the digital landscape. Now, as part of a new strategy to grow its advertising revenue, Spotify is pitching itself to brands as a platform that promotes positive engagement and offers a healthier alternative to doomscrolling.
In a world where time spent on social media platforms like TikTok, Instagram, and Twitter is often consumed by mindless scrolling, Spotify has never quite fit into that category. The app’s focus has always been on music, podcasts, and audiobooks, creating a more intentional and less passive experience for its users. While this has earned it a loyal fan base, it has also kept its advertising revenue relatively low. In 2024, Spotify made $1.85 billion from ads, which pales in comparison to the $13.8 billion generated from premium subscriptions.
This discrepancy in ad revenue could be partly due to the perception that Spotify is a passive experience, one that’s typically used in the background rather than as the main focus of a user’s time. Advertisers, accustomed to the high engagement seen on social media platforms, have been slow to recognize the potential of Spotify’s ad space. But now, the company is working hard to change this perception and convince brands that their listeners are anything but passive.
A healthier digital space for brands
Spotify’s co-president and chief business officer, Alex Norström, recently likened the app to a healthier alternative to the fast, junk-food-like content found on other apps. In an interview with The New York Times, he explained that Spotify’s content offers something more nourishing for the mind, as opposed to the “high-caloric, quick things” often found on platforms like TikTok and Instagram.
Spotify is now aiming to position itself as a more enriching, intentional space for users. Unlike other platforms that are designed to keep users endlessly scrolling and consuming content, Spotify offers an experience where users can actively choose the content they want to engage with—whether it’s creating a collaborative playlist with friends or diving into an audiobook for a few hours.
“We’re about providing something that feels good,” said Lee Brown, Spotify’s global head of advertising. The idea is to create a platform that’s not just for filling time but for enhancing the user’s day in a meaningful way.
Features that drive active engagement
Spotify is also highlighting features that encourage more active engagement from users. One such feature is the Jam function, which allows listeners to create group playlists with friends, turning music discovery into a more social, collaborative activity. This is a far cry from the mindless consumption typically associated with other apps.
In addition to Jams, Spotify is also focusing on long-form content such as podcasts and audiobooks, which require a deeper level of engagement. Users are spending significant amounts of time listening to podcasts or following along with an audiobook, making it a space for deeper connection rather than fleeting, surface-level interactions.
By promoting these features, Spotify is aiming to show advertisers that its user base is engaged, not passive. In fact, these features allow Spotify to offer a much richer, more intentional experience than the typical social media scroll.
Spotify’s shift away from doomscrolling
As the digital world becomes increasingly saturated with negativity, many users are turning away from the toxic content found on platforms like X (formerly Twitter) and Instagram. Amid this shift, Spotify is marketing itself as an antidote to the chaos. The company’s message to advertisers is clear: if you’re looking for a platform that offers positive, purposeful engagement, Spotify is the place to be.
According to Spotify’s Culture Next Report, 72% of Gen Z listeners see the app as an antidote to doomscrolling. This generation is more conscious than ever of the impact social media has on their mental health, and many have turned to Spotify as a space where they can consume content without the stress and negativity that dominates other platforms.
For advertisers, this presents a huge opportunity. Gen Z is not only a highly engaged audience, but they also prefer to support brands that align with their values and promote positivity. Spotify is positioning itself as the platform where brands can connect with this audience in a meaningful way.
Spotify’s use of AI to enhance ad creation
To make it easier for brands to tap into its growing user base, Spotify is also leaning into technology to streamline the advertising process. The company is utilizing Generative AI to help advertisers create scripts and voiceovers more efficiently, making it easier for brands to produce content that fits seamlessly within the Spotify ecosystem.
This move is part of Spotify’s broader strategy to enhance the advertising experience and attract more brands to the platform. By simplifying the ad creation process, Spotify is aiming to make itself an even more appealing option for advertisers looking to reach a highly engaged, positive audience.
A bright future for Spotify’s advertising revenue
Spotify’s advertising revenue has always lagged behind its subscription earnings, but the company’s efforts to reposition itself as a healthier, more engaging platform are beginning to pay off. After a challenging 2023, which included layoffs and uncertainty, Spotify rebounded in 2024 with its first full year of profitability and a significant jump in stock value.
The company’s shift toward offering a more intentional, positive space for users has the potential to make it a more attractive option for advertisers looking to connect with engaged, value-driven consumers. By promoting its unique features and its focus on creating a healthier digital experience, Spotify is setting itself apart from other platforms and positioning itself as a powerful force in the digital advertising space.
Conclusion: A healthier space for users and advertisers alike
As Spotify continues to refine its advertising strategy and focus on user engagement, it is becoming clear that the platform is more than just a music streaming service. It’s a space where users can escape the chaos of other social media apps, connect with content they love, and feel good while doing it.
For advertisers, this presents an opportunity to reach a highly engaged, positive audience that values intentional, enriching experiences. In a digital landscape increasingly dominated by toxic content, Spotify offers a refreshing alternative—a platform where brands can connect with users in a meaningful and authentic way.
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