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.
In his opening remarks for the Jackson Hole Economic Symposium, Federal Reserve Chair Jerome Powell signaled that the central bank could begin tapering its $120 billion in monthly asset purchases this year.
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Michael Chernow is known as a chef, TV host, and entrepreneur, but now he's taking a break from restaurants and stepping into the world of healthy breakfast. 'Kreatures of Habit' is a new lifestyle and wellness brand with the goal of helping people establish healthy habits. Michael was able to raise 2.2 million dollars to launch the company, which was originally set out to be a café concept, but transformed during the pandemic. Michael Chernow, celebrity chef, entrepreneur, and fitness expert joins us to talk about his new venture.
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The U.S. economy grew at a 6.6% annual rate last quarter, slightly faster than previously estimated, the government said Thursday in a report that pointed to a sustained consumer-led rebound from the pandemic recession.
The number of Americans applying for unemployment benefits rose for the first time in five weeks even though the economy and job market have been recovering briskly from the coronavirus pandemic.
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OnlyFans says it has suspended a plan to ban sexually explicit content following an outcry from its creators and advocates for sex workers.
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