One of the major problems Black women still facing in 2021 is a prevailing culture of disrespect and demeaning portrayals by mainstream media and prominently in Black media. We have to turn on Black radio rotating songs of rappers and sexualized singers talking about how they will treat Black women every other way instead of treating her with honor, respect and dignity.
We look at smart, talented, creative Black women that has to hide her true gifts because her family, her friends, her co-workers just want her to be seen as a “sista girl” who hang out, drinks wine and travel with her passport. If she has dreams where she needs to sit down and write a book, develop a formula for hair care or skin care or launch a venture, she gets side-shaded for trying to do her own thing.
You know this bothers me as a brotha. I’m the one that has to walk into the supermarket and see my sista and she is embittered as how her own Black community and her circle of people treat her and her goals, personal ambitions and her pursuit of her self-identity. And she looks at me like I’m part of that same Black community trying to hold Black talent down. At the supermarket, I’m looking at her and she looking at me but she is turned off by everything and I as a good brotha is turned off by her attitude. It become a vicious cycle where we cannot even speak to be happy for each other no more.
But here is the real issue and what this article about – the sistas have scaled-down dreams that are not bold and ambitious. Okay, sistas tell me what you want to do so I can tell you how lame and lightweight it sounds. You sistas can watch Channel News Asia on the weekend and see Asian women entrepreneurs creating products with global distribution from day one because they have an ecosystem supporting them. Trust me, I fully understand why your dreams are scaled-down and it’s time we focus on having our sistas have true, scaled-up dreams and go 100% for her - with or without the Black community approval.
I want to walk through an example of how sistas can work collectively to create empires and business organizations that represent true honor and respect for what our sistas in America has to offer the world. What sistas can do is focus on establishing SPACs as a vehicle as the true proper path to becoming billionaires and give an example of what can be done with a SPAC.
Now, I am a brotha from up North who listen to house music genres, around the world. One of my favorite scenes is the South African house music vibe who are simply the best house music contributors in the world. I want to share with you one of the artists who is Simmy, the lady in the cover photo of this article. South Africa has dozens of powerful divas making beautiful world class music and their stage presence and vibe is strong, powerful – let me stop there. What I will say is you will see later in this article how we are going to put a South African artist like Simmy, SPACs and sistas altogether.
The Current Dilemma – Sistas Chasing Venture Capital Funding
This video covers the song of one of my favorite house music tracks created. It was created by Sun El the Musician, an awesome producer of South African house music. You see Simmy personality come out in this one and this is one beautiful sista, inside and out.
A major current problem we have among the sistas when it comes to establishing empires is this thought of chasing venture capital firms or seed angels. Most of this I’m going to call out and attribute to Morgan DeBaun of Blavity who acting like chasing venture capital firms is the way to go. All this dumb slang talks about “securing the bag” among that DeBaun woman and those money-chasing, clout-chasing characters and got a whole bunch of Black folks chasing the idea of being funded by venture capital firms.
The core problem with venture capital firms is Black people have to play ego games with rich White people who want to dangle their money over folks’ heads. Give an elevator pitch to make a first impression, have a “deck” to present to white folks who want to give a thumbs up or thumbs down to your dreams and goals you have to explain to them. If they like you, you get a “term sheet” that tells you they want to invest this much in your startup for this percentage of your company. Then you see Black folks bragging they have a million or billion “valuation” which is a fake theoretical number based on how much invested and the percentage.
There is a core problem with this route of funding your venture – you not in control and you gave up your dreams to be in control to a venture capital firm. You cannot hire who you want, you cannot pivot or switch up your original plans after taking their money and they have a stake in your firm. You lost all control of your Black startup just to talk on Blavity to other Black folks that a venture capital firm gave you some to impress us.
This venture capital path is a sellout path – that’s not what you came this far for, my sistas. No sista, you want to be in control and at the helm. You want to work on your terms, move in silence, cut your own deals in Asia and Europe and Latin America on your terms. You don’t go into Asia acting like a punk talking about you are funded by this VC firm, you go in there and tell them this is your firm and they will respect you more. Most important is you need the mobility and agility to change up, switch up at will to compete with the changing global landscape. Tying yourself to venture capitalists who invested a stake in your firm will slow you down and mess you up and you will waste time fighting with them on direction and growth.
There is a better option and that option is called pursuing SPACs as a strategy.
SPACs Are a Better Option for Sistas
This video shows how beautiful our people can be around the world while expressing their feelings in song. You don’t need to understand the language to see exactly the message in this video. My favorite part of this video is a shoutout to the Ronin cameraman in the apartment who did some great but subtle angle sweeps. By the way, those two women sitting at the table – they are well-known South African music artists as well.
A SPAC or Special Purpose Acquisition Company is a special type of firm designed for only one purpose – acquire companies for their stakeholders. How a SPAC works is similar to crowdfunding but more beneficial. Let’s go through how a SPAC lifecycle operates.
First, an enterprising person want to see a type of company created but do not want to go through the work of creating one. What they do is create a SPAC firm to be listed as an IPO on the public stock exchange like NASDAQ which now lists SPACs. The SPACs offer shares to investors who buy stock in the SPAC with the goal of acquiring a company in the future.
Once the shares are purchased, that SPAC goes out and look for a promising company to acquire for the stakeholders. If the SPAC finds a firm, they will buy the firm with the cash raised from the IPO. That firm actually is absorbed into the SPAC and become a public trading company immediately. Now here is the best part – if the SPAC does not find a firm in 2-3 years, the investors get their money back and the SPAC is dissolved and everybody walks away – didn’t get that money-back guarantee from Jay Morrison and his real estate nonsense, did ya, lol. What about Dr. Umar supposed to be acquiring a school? Oh, let me stop laughing at yall who lost your money throwing it at bad deals instead of SPACS, hehe.
This is why you don’t listen to Morgan DeBaun talking that garbage about clout-chasing and getting VC money because you want to hear a secret? I got folks contacting me about their SPAC and wanting me to consider being acquired by them – they pay cash or outstanding shares. Even if I entertain that option, you know what that means – it means my firm become a public traded company immediately, bypassing all that waste of time VC nonsense. And I build up my own firm on my terms without arguing with some VC about growth and direction and made it a global class firm ran by a Black man.
So sistas, please understand what I just told you because now you are educated. Pursuing the SPAC strategy is the only true path to becoming a billionaire as a Black person while staying true to yourself. You sistas can get together and create a SPAC and create it to demand the creation and future acquisition of a company that benefit and proudly represent the sistas and you buy shares to fund it, knowing you will get your money back if a company is not acquired by the SPAC.
SPAC strategies for the Sistas
This is the latest work from Simmy and you see how beautiful this video is. Now you should understand a little bit why I’m talking about Simmy and the South African music scene. I’m glad you figured it out.
You African-American sistas can create a SPAC to acquire a music catalog firm with licensing rights to distribute and stream music from South Africa, Europe, America, Latin America and Caribbean within the United States and run a music scene featuring positive sistas and shut down these garbage disrespectful Black radio stations towards Black women, especially our young sistas.
By creating the SPAC, you just basically created a bounty for a sista entrepreneur to be motivated to create that company with the goals of being acquired by that SPAC and all of you become stakeholders in public trading companies on NASDAQ.
See, we are at a new horizon and juncture of opportunities for sistas to think big and go big. Sistas can create a SPAC with the goal to acquire a Black beauty and lifestyle company. Then sistas can work to create that venture and build it up and when that company is ready for acquisition, that money raised and traded as stock will go right into that startup venture – we see headlines of sistas shareholders buying a sista startup for millions or billions, not Morgan DeBaun bragging she begged some VC firm to give her money and Blavity has no viable path to become an IPO public trading company as a Buzzfeed wannabee clickbait operation for Black folks.
With SPACs, you sistas got real options to build real global empires and become moguls on your terms. Think of media firms and platform firms like what I have built up. You sistas already should realize the direction I’m headed with my empire, so you better act different when you see me at the supermarket from now on. Think of things you can sell in the Middle East like modest fashion as well as export to Asia and Latin America – brands, digital advertising networks, cloud-based platform services, transaction processing with QR codes, data hosting and crypto-security services. Think big and global and now is the time and it’s your turn to really do it like you always wanted to, my sistas.