With the NFL in its offseason, New England Patriots Safety Devin McCourty says he's focused on securing generational wealth for himself and other athletes through a new venture capital mission called Broad Street Ventures. Co-founded by Malcolm Jenkins of the New Orleans Saints and Ralonda Johnson, current president of the organization, the group looks to educate athletes while helping them gain financially.
"For us, we wanted to create a vehicle that would allow Black and brown investors to learn about venture capital but also have access to some of the best deals in the tech and consumer space," Johnson told Cheddar.
McCourty said that his close friendship with Jenkins is what spawned his decision to invest with Broad Street Ventures.
"We played in an all-star game coming out of high school and we do a lot off-the-field things together, and I think from there he started to talk about a vision of having NFL players having access to a different kind of wealth," he said.
Both grew up in New Jersey before going on to their collegiate and professional careers.
For NFL players, unlike in some other sports like the NBA and Major League Baseball, contracts are not guaranteed, the average length of a career is significantly fewer years, and as a result, players often have to find other means to secure finances for their futures. McCourty said that Broad Street Ventures allows all athletes to learn about venture capital investing.
Ralonda Johnson added that the group provides information sessions where potential investors can not only learn the ropes but also about emerging technologies.
"Not everyone [who] attends may invest or not, but just so that they at least have an understanding of tech investing. We'll go over from seed through late stage, just as much information that we can give them," she said.
For McCourty, Broad Street Ventures presents an opportunity for professional athletes to change the perception that the general public may have of them. He said with this opportunity, sports figures aren't limited to just making plays on the field. They can invest and lift up areas and industries that they are passionate about, offering fans a closer look at the human and not just the athlete.
November is National Entrepreneurship Month. Sam Johnson, EY Americas Vice Chair of Markets and Accounts, joins Cheddar to discuss the winner for EY's National Entrepreneur of The Year award, why entrepreneurship is so important to the U.S. economy, and how entrepreneurs can contribute to the growth and success of Fortun 500 companies.
Jill and Carlo cover the latest with the infrastructure bill, the growing state rebellion over boosters, Trump's dereliction of duty on the pandemic, Taylor Swift's reign of cultural domination and more.
2021 has been the year of many things, and one of them is the NFT or non-fungible token. We've seen NFTs come about for so many different things.
Digital artists have used them to sell their artwork in a more traditional art transaction than the internet had previously allowed. We've seen specific NFT campaigns like the pudgy penguins amass large followings. And now we're seeing them expand into horror films just in time for spooky season.
The iconic horror movie franchise "Texas Chainsaw Massacre" has launched its debut NFT line entitled "Leatherfaces." the illustrations are designed by Skinner in partnership with Ultra Rare to reveal a total of over 10,000 Leatherface avatars. The collection gives fans, NFT fiends and blockchain fanatics access to a new Texas Chainsaw Massacre metaverse unlike any that has been seen before.
Richie Hobson, co-founder of Ultra Rare, joins None of the Above to discuss.
As labor unrest continues to sweep the U.S. with strikes still underway in various industries and millions of workers quitting in September, Starbucks workers in Buffalo, N.Y., are close to voting on potentially unionizing their own workplaces. President of Northern Virginia AFL-CIO Virginia Diamond spoke to Cheddar's News Wrap about what the organizing workers are looking for from the coffee chain in terms of benefits and protections.
Ballots have been sent to workers at three different Starbucks locations in Buffalo, NY to decide whether they will unionize for the first time ever. Wilma Liebman, former Chair of the National Labor Relations Board and Michelle Eisen from the Starbucks Workers United Organization, which is behind this vote, joined Cheddar to discuss.
With transportation-based companies generating plenty of buzz recently, Cheddar News spoke with Hertz interim CEO Mark Fields about his company relisting on the Nasdaq, WheelsUp CEO Kenny Dichter about his company's historic Q3 earnings report, and Lime CEO Wayne Ting about his company's plans to go public.
