I always say this that you need a dap of cream to make the coffee taste just right
Without it, it's strong but bitter. IYKYK
Why Blacks Don't Support Black Owned Businesses - Here's Why
- Thread starter Rollie Forbes
- Start date
I always say this that you need a dap of cream to make the coffee taste just right
Without it, it's strong but bitter. IYKYK
Its a argument with people too stupid to even entertain. I’m tired breh.
As someone who works for himself I’m tired of explaining shyt to idiots when it ain’t even that complex breh
They wanna service non black business fine let em do it just keep us out that fakkit ass expectations like they fukking gordon Ramsey and not anmotherfukker who close they eyes when they breathe thru they mouth
Jean Jacket
NOPE
Black people are over critical of other Black people. For some reason...some of us believe that Black businesses should not charge exactly what white businesses charge for the same service or product.
Group economics includes Black businesses spending between other Black businesses in the community...i.e. the Tailor that buys his leather from the Black textile producer... those are loose examples, but that dollar would remain in the community for a lot longer that subbing out to people outside of the community.
There is a reason why the asians set up in poor neighborhoods and don't hire the local people to run the store. There is a reason why every Dunkin Donuts and 7/11 and gas station are arab and hindu owned.
There is a reason why all of the Black hair supply stores are owned by Koreans. They create an ecosystem to bounce their money within their community and scale.
I'm not sure if we're talking about the same thing. Please let me know.
Group economics includes Black businesses spending between other Black businesses in the community...i.e. the Tailor that buys his leather from the Black textile producer... those are loose examples, but that dollar would remain in the community for a lot longer that subbing out to people outside of the community.
There is a reason why the asians set up in poor neighborhoods and don't hire the local people to run the store. There is a reason why every Dunkin Donuts and 7/11 and gas station are arab and hindu owned.
There is a reason why all of the Black hair supply stores are owned by Koreans. They create an ecosystem to bounce their money within their community and scale.
I'm not sure if we're talking about the same thing. Please let me know.
They set up shop in poor areas because they are the only ones that are willing to deal with the bullshyt that comes with doing business in the hood
Dr. Jared Ball of Morgan State wrote The Myth of Black Buying Power in which he traced that quotation to its ultimate source, and it didn't have any other statistic to back it up. It is just hot potato. It is possible for one person to set up an extractive economy and gain wealth from establishing a business in a community. Otherwise, without a large outside source of capital, letting the dollar circulate just lets the dollar circulate. It doesn't grow. it's just barbershop talk.
Every time Dr Anderson is brought up I think about his fishery that he tried to start and failed. He got sued for not paying his loans back to another Black bank. Interesting case
Anderson v. Harbor Bank of Md. (In re Anderson), 599 B.R. 504 | Casetext Search + Citator
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Yes for all those ethnicities that set up those franchises or businesses, money, perhaps not wealth, is taken out of the community to possibly a handful of individuals
Jean Jacket
NOPE
Show proof of this.
We aren't.
The Business to Business market is very different than the Business to Consumer Market.
If we want to talk the consumer market analyze your own finances
- Rent/Mortgage
- Utilities
- Health Insurance/Health Care
- Cable/Internet/Cellphone
- Debt
- Car Note/Gasoline/Insurance/Repairs
Most folks be lucky to find a Black dry cleaner. Maybe you can rent from a Black Landlord.
You're not gonna find a black owned for profit neighborhood solar and fiber optics.
That's the type of thinking cats need to be on, instead of focusing on visible low profit margin businesses.
You know what Black neighborhoods reliably spend money on that's profitable - Liquor stores, check cashing places, Tax return places.
Nobody Black wants to get into those businesses....
I'm not against group economics, I'm only debunking the made-up statistics used to shyt on Black people and claim they are incapable of practicing it.
I disagree with your claims about other groups though.
* Asians set up in poor neighborhoods because White banks wouldn't give them loans to set up in white suburbs. It wasn't some grand strategy, if they had their choice they would rather be in a wealthier neighborhood, and wherever there's an asian hood they set up in their own spot as thick as they can fit. Literally the only reason they are in Black/Brown hoods is because those particular owners had nowhere else to go. And everyone hires their own family (or recent immigrants posing as family) to run their stores because you trust them and you can get away with underpaying them.
* Arab/Indian (not necessarily Hindu) people are all over those 7/11 and Dunkin Donuts because someone figured out how to do it and they set up their friends and family in the same business. It's not some grand strategy to push other people out, it's just that people do what they know. It's not like it's even all Indians - where you see an Indian-owned hotel, it's almost always a Patel. But if you see an Indian-owned semi truck, it's probably a Singh. People are just getting in wherever they find connections.
I don't think they're brilliant strategists, they're just people with a bit more opportunity making the most of it. But turn around and go to Indian or China or Saudi Arabia the Philippines and see if they practice "group economics" there. Nah, it's the exact same shyt as here where a few rich people make all the money, a few middle class get by, and the poor are fukked. They ain't any different in mentality than Black communities are, but the particular Asians who end up in America from India, Korea, China, Philippines, etc. have MUCH better backgrounds and networks of support than the average Black person. Switch that up to actually oppressed Asians (like Cambodians, Laotians, Hmong, Samoans, or the billion poor Indians that get left behind) and they ain't doing any better in America than Black people are.
Jean Jacket
NOPE
This false dichotomy of Black ventures folding due to corruption or incompetence between each other is exhausting.
He didn't get "sued for not paying back loans"... There was a roof collapse that the insurance company denied the claim for and there was litigation to secure the collateral.
I'm not sure if you're just attempting to use ad hominem attacks against Claude to aid your effect...or if you're serious about what you're talking about.
I agree with his statements and his view on Black Economics, and his books and lectures on the subject are viable and relevant still today.
You don't have to agree with him. That's cool as well.
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Put a cac on the register
CashmereThoughts
Veteran
I support black businesses almost everyday. There’s a tone of them on the next block (Marcus Garvey Boulevard).
My wine shop, Cannabis store, restaurants I frequent and coffee shop is all black owned. Theyre all well ran businesses at that.
My wine shop, Cannabis store, restaurants I frequent and coffee shop is all black owned. Theyre all well ran businesses at that.
make a vegan or raisin filled potato salad joint and eat well. call it "Karen's Delight"
He's been pushing that agenda for years. Sociologists need to take classes on economics.
The reality is that there are 15 Million Black Households and the median Black Household income is 46K.
Given that Black wealth is damn near neglible, we spend about 700B per year on goods and services. (How much they spending on Ukraine/Israel again?)
You can get different numbers by looking at # of black people and individual income, but the #' is massive. What little we have, we spend every damn penny of it.
Obviously purchasing power can be augmented by credit, which is usually what people mean by purchasing power - but just on income alone, Black folks are pushing 700B around.
The white number is super massive by comparison, as they make more (almost double) and they're 6 times the Black population.
We're not concerned with them.
Can Black People's current spending habits be funneled into things that have more long term value in our community?
I say yes.
But it's not gonna be in Ray Ray's new t-shirt line. FUBU never got to Levi's scale. A Levi's factory is a big deal for the community that it's in, 100s if not 1,000s of sustainable jobs.
NBA athlete entering into a co-branding joint venture with random Chinese company is not.
Jean Jacket
NOPE
Thanks for the reply.
I still believe that there are layers of economic racism that the average citizen doesn't realize, and the net effect is the inability to identify and mitigate it with a powerful combined effort.
Honestly...A lot of Black folks are used to dealing with asians and don't even mind or rather prefer to deal with them due to familiarity and how much they are proliferated in the hood.
I'm not implying that the asians are smarter, or better. I'm stating that they aren't targeted and blown up and firebombed like every Black Wall Street in American history...and they move accordingly.
Black progress is intentionally sabotaged and stifled in America due to economic racism and other "model minorities" capitalize on this.
