Esusu: Save More Money with Your Friends and Family
In cultures around the world families and friends pool their money together into a single pot of money. The process is called esusu, and a new app has adopted the name and making the process easier than ever.
Abbey Wemimo is the co-founder of Esusu. As an immigrant himself, Wemimo's mother practiced esusu and used that financing strategy to send Wemimo to school.
Wemimo explains that the main focus is to create a platform for immigrants and people of color, but of course he would be happy for all Americans to use the platform. Accessibility was a key factor in developing Esusu, which is why Wemimo says the company built a phone-based app.
Daisy Pitkin, author of "On The Line: A Story of Class, Solidarity, and Two Women's Epic Fight to Build a Union," joined Cheddar's Opening Bell to discuss her work as a union organizer at Workers United, helping Starbucks workers to organize. Pitkin expressed her enthusiasm for the recent labor push across the country, and explained how the movement can gain even more momentum in the future.
Lance Ippolito, Head Trader at the Future of Wealth, talks about the investor concerns leading to Big Tech earnings and how the shift in consumer buying habits may signal weakness for the overall market.
Brian Shepardson, VP & Senior Portfolio Manager at James Investments, discusses the takeaways from this week's earnings and forecasts market reaction as Fed Chair Powell signals a 50-basis point hike in May.
Patrick Healey, President & Chief Investment Officer at Caliber Financial Partners, breaks down Tesla's blowout earnings report and highlights the challenges the Fed will face if interest rate hikes are front-loaded.
Debra Aho Williamson, Principal Analyst for Insider Intelligence, breaks down the details of Elon's Twitter buyout and highlights concerns over regulating Big tech.
Florida Governor Ron DeSantis has signed into law a bill that strips Disney World of its special self-governing status. This came after Disney spoke out against Florida's so-called “Don’t Say Gay” bill, some saying in retaliation of that. Ben Means, Professor of Law and the John T. Campbell Chair in Business and Professional Ethics at the University of South Carolina School of Law, breaks down how the new law might impact Disney’s business moving forward.
Catching you up on what you need to know on April 27, 2022, with Tesla stocks absorbing an initial hit following Elon Musk's purchase of Twitter, Russia pausing its natural gas supplies to Poland and Bulgaria, NASA's SpaceX Crew-4 mission taking off, and more.
General Motors reported a Q1 net income of $2.9 billion and a raise in their full-year guidance. This comes as the auto giant steps up production of its electric vehicles amid production headwinds. Paul Jacobson joined Cheddar News to talk about the earnings report and its ongoing electric vehicle strategy. "One of the things I'm most proud of is the fact that we're continuing to lean in and accelerate on our electric vehicle journey," he said. "When you think about it, we're going to produce 400,000 vehicles over the next two years by the end of 2023, and we'll have production capabilities up and will produce more than a million vehicles in North America alone in 2025."
