August 12, 2020

Talk Money Weekly #004 | The Difference Between Rich & Wealthy ๐Ÿ’ฐ

Mesh Lakhani Headshot
Mesh Lakhani

Hey Everyone,

This is Issue #004 of the Talk Money Weekly. To get your mind moving on the topic of money every week, Iโ€™ll curate and share trending conversations around money, business, current events, and pop culture from Twitter, my favorite podcasts, and other platforms.

Today, we're launching our special BLM episode on our Talk Money Podcast - BLACK IN BUSINESS. We spent months working on an episode exploring and explaining systemic racism from an economic lens. More below!

๐Ÿ“ˆMarkets & Business:

The Best Podcast We've EVER Made - "Black in Business"

Talk Money: 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. Listen on Apple | Spotify | Other Platforms

Chris Rock Discusses the Difference Between Being Rich and Being Wealthy

There's so much truth in this bit by Chris Rock. Funny, yet eye-opening, the wealth gap in racial America is huge. Wealth has more to do with ownership than anything else. Hear him break it down.

๐Ÿ  Real Estate:

America Promised Black Americans Land But Took It Away

There are countless stories of Black Americans given land that they helped enrich during slavery but then taken away. Having land is a big part of generational wealth in the US. Without land or real estate, you fall behind in the ability to build wealth and transfer that wealth. Dive in deeper to find the truth behind real estate ownership in America, and how unfair it was (and still is).

The Gap Between White & Black Home Ownership is BIG. Why?

Homeownership is still a measure of success and prosperity. Why is there such a gap between black and white homeowners? 1) It has to do with wealth, which is part of the issue. 2) It has to do with housing policy & lending. Both government programs and banking limit resources available in majority-black neighborhoods. It's hard to argue systemic racism doesn't exist when you follow the money and the law.

Don't Think It's Racism? What If Policy is Set Up Against You?

This post goes deeper into the policy of redlining- which limits the ability for black families to get access to affordable housing in areas of growth. A good friend of mine, who is very successful in tech and real estate said,

"as a landlord, you actually want to increase the top of the funnel and have the maximum number of tenants to choose from, and then pick the best tenants on a relatively quantifiable basis. Being racist is actually rationally suboptimal. Like why would you not want to rent your property out to somebody based on skin color, or gender, or ethnicity?"


๐Ÿ›๏ธ Politics:

Kamala Harris is Joe Biden's VP Pick!

Ok, this specifically has nothing to do with money. I couldn't find something money related (that was appropriate) and this topic. I'm sure there will be plenty in the future. This tweet is just a hilarious and awesome. The niece of Trump makes it clear who she's supporting.

That's all for this week! I hope you enjoyed the fourth issue of Talk Money Weekly. If you haven't already subscribed to my podcast, Talk Money, do so here. Stay tuned for our trailer for Season 3 which is going to be pretty amazing. More on that soon.

Want to chat? Tweet me at @meshlakhani. If this email was forwarded to you by a friend, subscribe here for updates!

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