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.
The dating app Hinge says it's taking online dating to the next level by introducing a voice prompt feature for profiles. Michelle Parsons, chief product officer, joined Cheddar to talk about providing the question prompts for users to make accounts more personable in their own voice. She also went into how much the pandemic has had an impact on engagement.
Evelyn Webster, CEO of SoulCycle, talked to Cheddar's Michelle Castillo about how the company, known for its beloved spin classes, has evolved during the pandemic. It now offers stationary bikes for at-home workouts, similar to Peloton, but as restrictions lift, the chain is seeing riders come back in "full force." Webster says that has been a boon as people realized that they want flexibility in their workout options. "I think we'll continue to see consumers, riders, want a blended fitness and well-being experience at their own convenience, and that's why this multi-channel strategy is such an important pillar of SoulCycle's growth strategy."
On this episode of 'Your Future Home', Ania Smith, TaskRabbit CEO, discusses TaskRabbit's recent revenue growth, how the company is increasing their taskers' earning potential, and its potential for greater global expansion.; Aaron Wagner, a former football player turned self-made real estate investor & Founder and Managing Partner of Wags Capital, breaks down the best first steps the average investor can take into the realm of real estate, and how wholesaling can be a smart investment.; Cheddar breaks down all the tips, tricks, and things to look out for when buying your first home.
Aaron Wagner, a former football player turned self-made real estate investor & Founder and Managing Partner of Wags Capital, joins 'Your Future Home' to help break down the best first steps the average investor can take into the realm of real estate, and how wholesaling can be a smart investment.
Ania Smith, TaskRabbit CEO, joins 'Your Future Home' to discuss TaskRabbit's recent revenue growth, how the company is increasing their taskers' earning potential, and its potential for greater global expansion.
Pearson CEO Andy Bird joined Cheddar's "Opening Bell" to talk about a new partnership with famed recording artist manager Simon Fuller to launch a new performing arts school, the Academy of Pop, focused on cultivating the next round of rising stars. While the school will focus predominantly on the arts, Fuller said Bird wanted to partner with the learning company Pearson to add structure to the curriculum. "I think in many areas, the performing arts have suffered within education, and so part of our goal is to sort of put the 'A' into STEM and turn it into STEAM," he said. The first studio is slated to open in Hollywood.
Kathy Mulvey, the Accountability Campaign Director for the Union of Concerned Scientists, joined Cheddar News to break down Thursday's congressional hearing on climate change with big oil executives and lobbyists.
TikTok is testing out a new program that would allow creators to receive tips for their posted content. The video-sharing platform also said it will allow creators to retain 100 percent of their tipped revenue.
