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.
Russia’s invasion of Ukraine sent the stock markets into a frenzy for the end of the week. Managing Director of Equity Research at Wedbush Securities, Dan Ives joined Cheddar News to discuss the shifts he expects for the stock market going forward. "It's going to be volatile. Put on the seat belts. I think we'll look back six, nine months. This was an opportunity, not the time to sell, especially some of the high quality names within tech — Microsoft, Apple leading the charge," he said.
Even amid the Great Resignation, the cannabis industry saw major job growth. As of January 2022, the legal industry supported more than 428,000 jobs — a 33 percent increase year-over-year, according to the sixth annual jobs report from Leafly, a website focused on cannabis use and education. Yoko Miyashita, CEO of Leafly, joined Cheddar News' Closing Bell to discuss. “You know we've got big moments coming ahead in New Jersey and New York with adult-use sales starting in New Jersey, hopefully by this fall, with New York quickly to follow," she said. "So we're hugely optimistic about the kind of job growth that those markets can drive with the right type of market setup.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Theaters needed new releases to fill seats, and unfortunately for them, the supply of movies is entirely out of their control. Cheddar's Alex Vuocolo takes a deeper look.
Nick Bailey, president, and CEO at Re/Max, LLC joined Cheddar News to talk about the company's strong Q4 earnings results and the tight real estate market overall. "Real estate has continued to be a very strong sector, and coming into '22, we're already seeing the spring selling season be accelerated because of such high buyer demand," he said. "Buyers thinking that interest rates could fluctuate and go up even more are wanting to be in the market sooner than later."
A still-unidentified attacker was able to steal 254 tokens from 17 traders who held their NFTs on the OpenSea marketplace. Cheddar's Alex Vuocolo takes a close look at how the crypto community is responding.
