💸Moneda Moves (43): The last notita of the year -- wrapped 🎁
Buenos dias, Moneda Moves readers and welcome to the last notita of the year.
Thank you for continuing to engage with us in 2019. This year, we learned about the record number of Latinas entering the workforce as well as Latinx as an engine of US economic growth and business creation. If that's an indication of how 2020 and beyond will go, we are in for a treat.
Wishing you and your loved ones a happy new year filled with prosperity, peace and mucho mucho...
(Credit: Giphy)
...In the words of the great, late Puerto Rican astrologer and businessman Walter Mercado.🔮
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
What became of Puerto Crypto ₿ : Puerto Crypto: It was the name of a two-week event that took place in Puerto Rico in 2018 positioning the island as a for-profit utopia. A major incentive? Tax breaks. A company's change of address to the island would cut back its corporate tax rate to a shockingly low four percent. And if that didn't motivate a move, perhaps it was that dividends paid by a Puerto Rico-based company to its residents were also tax-free, due to a law in 2012 called Act 20.
Enter the "Puertopians": By in large wealthy and early crypto investors who promoted their mission to turn Puerto Rico into a "high tech cryptocurrency paradise" and help rebuild post- Hurricane Maria. Some of the ways they said they planned to invest in the island was by using new tech and installing smart grids, solar panels. At the helm of the campaign was Brock Pierce, a former child actor, then crypto-entrepreneur turned billionaire. Reporters Joaquin Cotler and Michael O’Brien for Latino USA followed the story and crypto crusaders from the movement's surge on the island in 2018, its promises to locals and the distinct reality that unfolded. Hint: Not all was what it seemed. Listen to the full report here. The Intercept also had great coverage on the event in 2018 you can read here.
(Credit: Giphy)
When it comes to money, housing and jobs, Latinas register higher "worry" than other women🏠: Among the biggest concerns for Latinas is affording rent and mortgage. Overall, 34 percent of all women said they are worried about affording rent or mortgage, while 55 percent of Latinas and 52 percent of black women said that concerned them. Health care is another issue relevant beyond the debate stage. 61% of Latinas worried about finding affordable health care for their families. In the report, NBC Latino's Suzanne Gamboa details how these concerns could set touch points for presidential candidates as we gear up for a 2020 election and how recent news affects these concerns.
Know the powerful/potentes Latinx and up-and-comers in the money world.
VC funds focused on underrepresented communities💸: Last week, we put out an ask for VC funds investing in minorities, and you delivered. Here's a shout-out to our reader Pamela Barba, Founder of Vamos Ladies. She suggested Vamos Ventures, an impact fund investing at the late angel, seed and series A stages working with diverse entrepreneurs. In its portfolio are companies using AI to "build the perfect pitch" like VOIQ and platforms tackling food access issues by enabling users to purchase healthy food at a discount like Food for All. Thank you for sharing, Pamela!
Put your money/monedita where your mouth is! Some money updates for thought.
Looking for small businesses to shop?🛍️ If you're doing last minute shopping and to support small business, Remezcla has you covered. Check out their recent Latino-Owned Shops list featuring a personal favorite,the Peralta Project. Here's one of Tony's classic shirts in my cart:
(Credit: Giphy)
Want more people in on the moneda scoops? 📬Get social -- share it with your friend or socio: tinyletter.com/MonedaMoves. Nos vemos next year!