Achieving Equity: Killer Mike, John Hope Bryant, & Shopify on Black Business & #BankBlack

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 20 October 2020

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rapper, actor, and activist Michael Render, AKA Killer Mike, has launched Greenwood, a digital banking platform aimed at supporting Black and Latinx Americans who are unbanked or underserved by the traditional banking system in the U.S. He explains why support from financial institutions is critical to Black and brown America building wealth and participating fully in the economy. John Hope Bryant, CEO of Operation Hope, has launched the 1MBB initiative, an effort to create 1 million new Black-owned businesses in the next decade. Bryant is teaming up with Shopify, which has committed $130 million to the effort. Bryant and Shopify’s President Harley Finklestein discuss ways to cultivate Black entrepreneurship and improve racial equity in business. Those conversations, plus WeWork’s newest drama and America’s pandemic grooming.

Transcript

Click on a timestamp to play from that location

0:00.0	This is Squawk Pod. I'm C. M.
0:03.4	C. Cady Kramer. Today on our podcast,
0:06.7	leveling the playing field.
0:08.8	Killer Mike, the rapper and activist launching a new bank.
0:12.2	We decided to get in the freight and bring banking directly digital to your hand to do it directly
0:17.7	for Black and Latino X, although it's open for everyone to use.
0:21.1	It's called Greenwood and Mike's got a message for corporate America.
0:24.6	Check at places in the liquor store are going to lose the first quarter. We're coming for you.
0:28.1	The big banks have to know that we're coming to compete.
0:30.5	Increasing the number of black- owned businesses by a million.
0:35.0	John Hope Bryant says that's good for business.
0:37.4	Black people and brown people are not a sympathy case.
0:40.4	We are the future for this country.
0:41.9	Demographically, we have all got a win.
0:44.1	And Shopify's president on why the stay-at-home stock darling
0:47.4	is stepping up.
0:48.3	Entrepreneurship is a proxy for independence
0:50.4	and we want to be part of that change.
0:52.2	All that and the rest of today's stories that got us talking,
0:55.0	election day two weeks out,
0:57.0	trouble for brands like Revlon and We Work,
0:59.0	and Soap, Americans are buying it.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.