As the world has become more digitized, more accessible payment systems such as Cash App, PayPal and Venmo have become hugely popular. According to data, Cash App has generated over 40 million monthly active users and over 100 million downloads. Recent research reveals that 59% of Black Americans report using Cash App, compared to 37% of Hispanic Americans and even a smaller percentage of white and Asian Americans. Hackers and scammers The popularity of these payment systems among Black and Hispanic Americans is in spite of concerns about security and
Armed with smartphones and armies of faithful fans, social media sensations such as Khaby Lame are building fortunes by redefining the rules of entertainment, advertising, and stardom. The inaugural Forbes Top Creators list highlights the 50 social superstars leveraging a combined 1.9 billion followers across social networks to earn $570 million in 2021 alone. Their average age is just 31. Next year’s windfall is significantly richer as famous personalities shift from influencers to owners, using their massive reach to start their own ventures—clothing lines, beauty empires, TV series, and fast food chains.
Social media services Facebook, WhatsApp, and Instagram are back up and running after an outage that lasted almost six hours and impacted millions across the globe. The services were down from about 4 pm GMT until around 10 pm on Monday. Users flocked to Twitter to share their frustrations, jokes, and assumptions about why the social media giant had shut down. But in a statement, Facebook said that the site’s faulty configuration change affected the company’s internal tools and systems which complicated attempts to resolve the problem. Downdetector, which tracks outages, said
Black Tech Twitter is good for many things – from shining a light on the rising talent in the sector, helping members of the community land their dream jobs, to updating those who are keen to get into the industry on the latest events happening around the globe. But one thing it’s increasingly becoming well-known for is being a safe space to ask for advice and get “absolute gems” in return. Here at POCIT, we’ve broken down some of the latest advice from Black Tech Twitter this month. Just go
Techish is back with a brand new episode! Abadesi and Michael discuss Rihanna joining the billy club, as Forbes reports she is worth $1.7B and what it means to be a billionaire nowadays (0:15) They also break down: Square acquires Afterpay for $30B and the risks of buy now pay later companies (7:53) Instagram makes changes for under 16’s but is it too little too late? (15:20) Fleets is no more, the unofficial ‘mega block’ and not being afraid to kill projects (23:23) Why smaller active wear brands are beating big brands like Nike
In 2020, despite a global pandemic, a total of 89 companies gained unicorn status globally. According to CB Insights and as of January 2021, there are 537 unicorns worldwide with a total value of $1.6 billion. 2020 was a record year for investment into the African startup ecosystem. The African Tech Startups Funding Report 2020 highlights that 397 African startups have raised a fund equivalent to $701.5 million USD. Kenya, Nigeria, and South Africa stand out as the main destinations of capital, with 89.2% of the total amount of funds
Techish is back with a brand new episode! Abadesi and Michael discuss fashion designer Virgil Abloh selling a majority stake in Off-White to LVMH but what is the cost of losing its Black-owned status? (21:58) They also break down: Twitter’s new dislike button (1:03) Bezos vs Branson’s space flight (5:30) Clubhouse is open to the public but is it too late? (9:32) Why Black employees prefer to work remotely and the Netflix employees that were caught slipping on Slack (12:20) Sponsors Get your ticket for Inbound 2021! Speakers include Oprah Winfrey, Tristan Walker, and
Earlier this month, social media was buzzing as Black TikTokers purported to go on strike from the popular social platform. The hashtag #Blacktiktokersonstrike and the slogan ‘They can’t do it without us’ were used to support the Black creators who refused to choreograph new dances on the app. This was in protest against the appropriation of their content by white users. With the controversies that plague social media platforms: the appropriation of Black culture, the disrespect and hate, the erasure, and the lack of financial compensation, has it come time
We rounded up a list of talented, passionate, and hardworking tech entrepreneurs who are inspiring business innovation, creativity, and entrepreneurship. Here is a short intro on four AfroLatinX who are making waves in the industry and are ones sure to watch! The Founder Providing Capital to Underrepresented Entrepreneurs A first-generation Afro-LatinX immigrant is undoubtedly making a name for himself in the startup world, using his talents to create a space for more people like him in tech. Luis Martinez is the founder of We Tha Plug, an incubator designed to help
Techish is back with a brand new episode! Abadesi and Michael discuss Instagram’s new feature will let online shops identify as Black-owned to better attract users wanting to show support. (28:00) They also break down: Bezos steps down and Amazon strives to be Earth’s best employer (0:20) Is it the end of an era for innovation for Big Tech companies? (5:00) Sha’Carri Richardson’s ban from the Tokoyo Olympics, cannabis, and the politics of sport (8:55) The pros and cons of Robinhood going public (16:48) The online scam taking money from your bank transfers (23:40)
