The NAACP has announced the launch of NAACP Capital, a new fund of funds aimed at empowering fund managers and startups focused on closing gaps facing communities of color. Developed in collaboration with Kapor Capital, Kapor Center, and nine venture fund managers, the fund seeks to raise $200 million to reshape the innovation and investment landscape. Driving Impact Through Inclusive Investing The initiative is part of the #KeepAdvancing campaign, a modernized approach to civic engagement aimed at building a more inclusive economy. “Investment is the backbone of impact, and impact
On the Oct. 18 premiere of Shark Tank’s 16th season, Destin George Bell, 26, pitched his gamified fitness app, Card.io, securing a $150,000 investment from FUBU founder Daymond John and venture capitalist Rashaun Williams. The app, which launched in 2022, combines fitness tracking with a social, team-based game experience, transforming outdoor workouts into competitive turf battles. Card.io has already attracted a following of over 25,000 users across 70 countries. Bringing Gamified Fitness to a Global Audience Inspired by his struggle to stay motivated during the pandemic, Bell created Card.io to
Megan Garcia has filed a lawsuit against Character.AI following the death of her 14-year-old son, Sewell Setzer III. Sewell, an Orlando, Florida, teen, reportedly grew attached to a chatbot he named “Dany,” modeled after Daenerys Targaryen from Game of Thrones. Garcia alleges that her son’s obsessive use of the chatbot, coupled with the app’s addictive design, contributed to his mental health struggles, ultimately leading to his suicide. AI Chatbot “Daenerys” Became Son’s Closest Confidant Character.AI, an interactive chatbot platform, lets users design or select lifelike personas with which to communicate.
Dean Forbes, CEO of software company Forterro, has claimed the top spot on the UK’s Powerlist 2025, recognizing him as the most influential Black individual in Britain. Known for his rise from homelessness to the helm of a €2 billion software company, Forbes’ journey has been seen as one of remarkable perseverance, entrepreneurial spirit, and philanthropy. Transforming Challenges into Career Milestones Forbes born in southeast London in 1978, recalls a challenging upbringing with financial hardships and a mother battling muscular dystrophy. As a teenager, he navigated periods of homelessness but maintained
Thousands of creatives, including figures like author Malorie Blackman, a British author who is famous for her award winning Noughts & Crosses series, actresses Rosario Dawson and Liza Colón-Zayas and Suits actor, Wendell Pierce have united to oppose the use of their artistic works for training AI systems without permission. The statement, signed by over 11,500 artists, musicians, authors, and actors, calls for stronger protections against the unauthorized use of copyrighted content by AI developers. Signatories also include major record labels—Universal Music Group, Sony Music Entertainment, and Warner Music Group—along
Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company. According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year. In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited
Four-time GRAMMY® Award-winning producer Timbaland has joined Suno, a leading AI music creation platform, as a strategic advisor. This collaboration comes after months of Timbaland actively using Suno. Love Again Remix Contest To mark the beginning of this partnership, Timbaland previewed his latest single, “Love Again,” exclusively on Suno, inviting artists from around the world to participate in a remix contest. The contest, launching 24 hours after the announcement, will offer over $100,000 in prizes, with Timbaland himself providing feedback on submissions. The top two remixes will then be released on major streaming platforms,
Issa Rae has announced a new collaboration between ColorCreative, her management company, and the streaming platform Tubi. Together, they’ve launched “Stubios,” an initiative aimed at supporting up-and-coming creators by providing a direct path into the entertainment industry. This partnership offers five creative teams the chance to develop their debut projects, which will premiere on Tubi, with full funding provided by the platform. A Platform for Emerging Talent ColorCreative, co-founded by Issa Rae and led by CEO Talitha Watkins, is committed to amplifying underrepresented voices, according to their website. Through the
SoLo Funds, a Los Angeles-based fintech startup, is facing a class action lawsuit filed on October 16, accusing the company of “unlawful and deceptive” lending practices. As first reported by Bloomberg, the lawsuit alleges that SoLo misled users by disguising hidden fees as “tips” to lenders and “donations” to the company. While these fees are technically optional, the suit claims they are difficult to avoid, making loans more expensive than advertised. Deceptive Lending Practices Alleged in Lawsuit SoLo Funds allows users to request small loans, up to $575, which are
Forbes’ real-time billionaire rankings, these are the wealthiest Black individuals globally. Their investments span various industries, including telecommunications, technology, cement, media, and oil. While they have gained significant wealth, these billionaires also hold influence in sectors that are critical to economic growth, particularly in Africa and the diaspora. Here’s a roundup the world’s richest Black people as of October 2024. Read: The Top 10 Richest Black People In The World 2025 David Steward Net Worth: $11.4 billion Country: USA Industry: Information TechnologyDavid Steward co-founded World Wide Technology (WWT), a provider
