True accounts of how business and money works. How are resilient entrepreneurs adapting in the economic downturn? On this season of Talk Money, business owners embrace transparency as they share their unconventional journeys of rebounding from the pandemic. Through interviews, entrepreneur and investor Mesh Lakhani learns the overlooked realities and true accounts behind the resilient industries that make the world turn and why ownership is key. Build business and personal finance knowledge while learning how these entrepreneurs made money — and what it cost them.
Find out more at www.thetalkmoney.com
Black in Business
In this special episode, we delve into systemic racism in the United States from an economic lens and bring you three stories from Black entrepreneurs during the 2020 Black Lives Matter protests in the midst of COVID-19. Featuring Kris Shelby of Atlanta's Attom Shop, Chris and Shanelle Montana of Minneapolis's Du Nord Craft Spirits, and Yelitsa Jean-Charles of Detroit's Healthy Roots Dolls.
After George Floyd's killing, we felt the need to take action and have our voices heard. We spent months working on an episode exploring and explaining systemic racism from an economic lens. Our goal is to not only give these founders and their stories a platform, but to provide education on the business challenges they had to overcome as Black people in America.
To learn more and support these businesses, visit the Attom Shop GoFundMe and the Du Nord Recovery Fund. For more Talk Money episodes and bonus content, visit our website.
This episode features:
Kris Shelby of Attom Shop, the first Black-owned luxury retail store located in the upscale shopping complex, Shops at Buckhead, in Atlanta, Georgia.
Chris and Shanelle Montana of Du Nord Craft Spirits in Minneapolis. Chris is the very first Black owner of a microdistillery in America.
Yelitsa Jean Charles of Detroit's Healthy Roots Dolls, one of the first start-up toy companies that creates dolls with diverse skin tones and hair textures to reinforce positive self-perceptions among young girls.
The Price of a Pandemic: The Coffee Shop
We all miss our favorite coffee shops. It's part of our routine. It's habitual. Coffee, or any caffeinated drink, also happens to be addictive. So how are coffee shops surviving during this pandemic? This pandemic has highlighted our need for convenience and minimal touching. With one click, we have our favorite drink ready for pick up, without the need to touch anything! This is the future of digital payments that we've seen work really well in countries like China.
In today's episode, we learn about the coffee shop business and how they relate to the evolution of digital payments. We sit down with Tim Griffin, founder of Cloosiv, a payment platform focused on coffee shops. We learn:
Why the US is behind in digital payments in comparison to China.
How Starbucks created one of the most used payments app.
How the coffee shop business works, and how they're adapting during COVID.
Why contactless payments are the future.
This is our last episode of the season, but we'll be returning soon after a short break. Thank you to all our guests from this season for participating. Thank you to Olivia Briley for producing and to Maia Tarrel for editing the podcast. Thanks to my wife for doing all our pre-rolls and editing the notes. Thank you to our listeners, for sticking with us and giving us your time. Stay safe out there.
The Price of a Pandemic: Where Did All the Oil Go?
As I'm sure you're well aware, the price of oil saw some major fluctuations a few weeks back... going "negative." It became headline news. How does one of the most valuable commodities in the world go negative? In other words, at one point, people were paying to store oil. Due to COVID-19, demand for oil has dropped significantly because we simply aren't going anywhere.
There are a lot of moving pieces here. We have demand, supply, storage, a pandemic, and then the relationship between the three largest producers of oil - The United States, Saudi Arabia, and Russia.
In today's episode we're learning everything we need to know to make sense of all of this. I speak with Kartik Misra, an energy investor for one of the largest Family Offices in the US. We learn:
Why the price of oil went negative, and what that means.
What is happening to all the oil that is not being consumed.
What's the relationship between the US, Saudi Arabia and Russia when it comes to the production of oil.
How COVID is affecting the consumption of oil, and how that affects us as consumers.
What's the future of this industry and all the jobs it affects.
I hope you find it just as informative. If you did, please feel free to share it. Stay safe out there!
The Price of a Pandemic: The Good Doctors
Last week, we heard about the incredible pressure on hospitals during this pandemic and how it’s affected nurses specifically. Today, we turn our attention to ER doctors at all stages in their careers... from the residents to attending physicians. And just like other healthcare professionals, they too are putting their lives at risk.
The cost of education to be an MD is high, resident salaries are low, and starting one’s own independent practice is harder than ever. With that said, there are many young MD's (residents) who are working on the frontlines right now. The question is - are they being fairly compensated?
Episode 9: The Good Doctors - In today’s episode, I talk with Dr. Nitin Vaswani, a trained clinician, Hopkins alumni & healthcare investor. Currently, he’s spending his time pushing digital health initiatives, as well as helping hospitals transition into tele-health. We learn:
The current pay gap between doctors in the ERs and the one's senior to them.
How the hospital system works, and why it’s so hard to start one’s own practice.
Why hazard pay and loan forgiveness is important for healthcare workers right now.
The importance of digital health, and how COVID-19 is pushing that movement forward
How doctors can be compensated through tele-health.
Today’s episode also includes personal stories from two physicians on the frontlines. We thank them for not only sharing their stories, but also for giving us hope. A huge thank you to all the healthcare professionals out there! Stay safe!
In this episode, we show our support for Node Health, focused on bringing evidence-based medicine practice to digital health.
The Price of a Pandemic: In Nurses We Trust
Today we are paying tribute to the heart of the hospital, the nurses. We are so fortunate to have so many incredible nurses in our healthcare system. They play such an essential roll in the comfort and needs of patients, as well as keeping the doctors and physicians informed of what needs to be done. They are efficient and run the show 24 7.
The truth is, we don’t have enough of them. And the ones that we do have are overworked and under-compensated. With the cost of nursing school so high, it makes it even harder to incentivize people to go into the field.
We need them now, more than ever. With the first wave of the pandemic coming down, our hospitals are still short-staffed. But why is that? Well, It has a lot to do with economics.
In today’s episode, I speak with Dr. Rosemarie Aznavorian, Chief Clinical Officer of a hospital staffing company. She’s had over 40 years of experience in the hospital system, and happens to be my mother in law! We learn:
How hospitals currently staff their nurses and the increased need due to COVID 19.
Why we have a shortage of nurses currently and what it has to do with the economy.
How the cost of being a nurse is too high in comparison to the compensation provided.
The importance of nurses in the hospital system, and how we can incentivize people to pursue this career.
This was an incredibly insightful episode. For one, nurses are on the frontlines risking their lives every day to keep us safe. We should do our best to protect them physically, as well as financially. A huge thank you to all nurses working the frontlines.
For this episode, we’re supporting No Kid Hugrey. Millions of kids rely on school for their meals & shutdowns prevents these kids from being fed: nokidhungry.org
The Price of a Pandemic: Video Games Rule All
Not all businesses are suffering during this pandemic. Specifically, video games and streaming are thriving during times of social isolation. People are gaming more now than ever before. It's keeping us busy, entertained and connected. Gaming has come a long way, and has created multiple new revenue streams for professionals. It's a multi-billion dollar industry that reaches millions of people.. In today's episode, we talk to Ludlow Ventures investor and industry expert Blake Robbins. We learn:
How far gaming has come since the launch of multiplayer gaming over the internet.
How the industry has thrived during the pandemic.
What eSports is, and how professional gamers are seeing success similar to professional athletes.
How streaming has created new forms of content and entertainment on platforms like Twitch and Youtube.
The discipline and skill needed to make it as a professional gamer.
For more of Blake's work on gaming and the future of media, check out his newsletter- blake.substack.com. If you want to know why millions are turning in to watch people play video games, check out some of his streamer recommendations:
Breaking Point- A Youtube Documentary
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