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Is “financial freedom” real?

Many founders are working towards “financial freedom.” This goal is marked by milestones such as owning a home to create a legacy for their family. This is logical, as home ownership is the #1 driver for wealth in America. However, from sharecropping to Federal Housing Policies systemic barriers to owning property have left many excluded. Amber Ruffin explains how the Great Depression, the New Deal and banks created the middle class and “the hood.”

The Amber Ruffin Show: How Did We Get Here

Redlining created a loop effect. As Black families were pushed into “risky neighborhoods”, the values of homes in these areas continued to declined. The cumulative loss in assets amounts to $156B.

Mean Outcomes, by HOLC Neighborhood Grade and Time

Mean Outcomes by Neighborhood

Green (least risky), Blue (more risky), Yellow (risky), and Red (most risky)

Learn More

The money drained from overworked and underpaid communities has created generations without the financial liberty to make choices needed to “make it in America.” As a result, the culture of money in these communities has shifted to one of scarcity instead of abundance. As an entrepreneur, thinking out of scarcity will always limit the success of your business.

Your financial freedom depends on your mindset and that is fully in your control. If you are feeling overwhelmed, depressed or stuck start with adjusting your mindset. Transitioning from a scarcity mindset to one of abundance turns your product or service into a value creation process.

Strategize In The New Economy

Weapons of math destruction are micromanaging our economy from advertising to prisons. These mathematical principles, such as statistics, are employed to validate your market in the early stages of a business or when making a pivot. However, the culture that has standardized these methods are inherently unethical. The men who were most influential on establishing modern day statistics were all proud eugenicists. So, is statistics racist?

Ethnomathematics is the study of the relationship between mathematics and culture. There are infinite numerical systems. However, the one that shapes your society is derived from social meanings. In The West, mathematics is a science “which draws necessary conclusion from logical evidence of fact demonstrated with the aid of numeric system.” In Igbo mathematics, the number systems have both common connotation and implied religious/spiritual meaning.

Counting systems are the basis on which other forms of science exists, including computer science. We are in the “New Economy”; in which technological innovations are the center of the hype. As the world becomes more automated so do its ugly habits. Joy Buolamwini is combating algorithmic bias in facial recognition.

How I'm fighting bias in algorithms | Joy Buolamwini

We need diverse and ethical minds strategizing and building the digital world. Thanks to the “New Economy” free education is more available than ever. Check out these courses:

Blockchain (MIT)

Intro To Data Analytics (General Assembly)

Data Science (Dataquest)

Quantum Physics (MIT)

Intro To Python (General Assembly)

Intro to UX (General Assembly)

You may be thinking, “how am I going to fit this into my busy life?” Continuous learning is a part of your role as a founder. It doesn’t need to happen all at once but steadily over time. Try these online learning tips.

Get Funds.

  • Black Business Pitch Competition | Apply

  • $5K Grant with CitiTrends | Apply

  • $10K stipend for Change Agent Fellowship | Apply

  • $25K for HBCU Grads | Apply

  • Funding Opportunities with Ureeka

  • Break into VC | Apply

Podcast World

Journey To Launch

Build generational wealth with trusts and estate planning. Set the rules for managing your property in the case that you become ill or pass away. In “How To Use Trusts And Estate Plans To Build Intergenerational Wealth”, Ifeoma Ibekwe, an estate planning attorney, discusses how to build real wealth through estate planning. Journey to Launch is a podcast hosted by Jamila Souffrant to help listeners reach financial independence. | Listen

Journey To Launch Podcast

NO(LA) Reservations

NOLA! Check out the hottest new podcast in your city, NO(LA) Reservations. Travis Smith hosts conversations with members of the entrepreneurial ecosystem to help remove pre-existing and newly found barriers to success in the post-pandemic economy. | Listen

techish

The New Economy will guide the future of the digital world. Understand the intersection of AI and ethics in “Black Women Raising Millions, Google “Firing” Timit Gebru, Calm vs Headspace & Letitia Wright.” Abadesi Osunsade and Michael Brehane Techish co-host techish, a podcast discussing the culture of tech from a global perspective. | Listen

Techish podcast

Unconfirmed

A new economy means new industries, such as NFTs, an $80 million and growing market. In “Why NFTs Are Attracting Everyday People to Crypt‪o‬”, Jake Brukhman, cofounder and CEO of CoinFund, explains what a NFT or non-fungible token is and how they can be "liquid intellectual property. Unconfirmed is a weekly crypto podcast with Laura Shin and marquee names in crypto reacting to the week’s top headlines. | Listen

Unconfirmed Podcast

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