After four years, Diarrha N’Diaye-Mbaye, founder of the clean beauty brand Ami Colé, announced on Instagram on Thursday (July 17) that she’s winding down the company. What began as a mission to create makeup that truly works for melanin-rich skin, grew into much more. It became a movement and a metaphorical home for many, just like the salon her mother once built, she noted. In the heartfelt post, N’Diaye-Mbaye called this moment “another love letter, not a goodbye.”   View this post on Instagram A post shared by Ami Colé (@byamicole) “We were a brand rooted in purpose, storytelling, and the bold celebration of who we are,” she wrote. “Let’s not forget bomb ass products!” From the earliest sketches in her Brooklyn, NY, apartment to seeing Ami Colé’s products on Sephora shelves across North America, she noted, N’Diaye-Mbaye turned a vision into reality. “This moment is bittersweet… Thank you for everything you’ve taught me about living your dreams out loud,” she wrote. She also...

Some people earn too little to ever stop thinking about money. Others earn so much that they rarely have to. Most of us live somewhere in between: the teacher wondering if they’ll ever own a home, the small business owner with good months and bad ones, the salaried professional with a six-figure title but a five-figure cushion, even the multimillionaire questioning why wealth still doesn’t feel like freedom. People across every income level who earn well but still wonder if they’re actually wealthy. That question ( Am I rich? ) might sound self-indulgent. But it’s increasingly common across racial lines, tax brackets, and career paths. And for many people, particularly those carrying financial responsibility for others , the answer is complicated. The Prosperity Paradox On paper, you might be earning more than you ever imagined. Maybe you’ve reached a steady middle-class salary, broken into six figures, or you’re still climbing but making progress. A few years in, a few promotions...

What Black Tech Leaders Earning Millions Do Differently With Wealth And Influence The Seven-Figure Problem – Less than 0.1% of Black professionals reach a seven-figure net worth before 40. But tech is creating more Black millionaires than any industry in history. The problem isn’t making money; it’s keeping it. You’ve crossed that threshold. Startup exit, stock options, VP-level comp . You’ve joined an exclusive club that changes everything for your family. But here’s what nobody tells you: earning millions and building wealth are different games entirely. The shock of sudden wealth (what experts call sudden wealth syndrome) can disrupt even the most logical thinkers if they don’t have systems in place. The technical skills that made you successful operate on logic. Wealth operates on relationships, timing, and access to information that isn’t public. You can scale a product to millions of users, but you can’t scale personal wealth the same way. Why Your Financial Advisor Is Failing...

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. For many founders in the beauty and lifestyle space, the measure of success isn’t just in sales but also in the value of an exit. Recently, Hailey Bieber’s beauty brand, Rhode, was acquired by e.l.f . for $1 billion. Founded in 2022, the beauty brand has reached its valuation quickly thanks to Bieber’s name recognition and viral social media campaigns. But while Bieber has been praised for selling her company, the majority of Black founders are accused of being sellouts by Black customers when they do. Over the past several years, Black-owned brands like The Honey Pot Company, Mielle Organics , and Briogeo Hair Care have been acquired by large conglomerates. For every acquisition, a large portion of their Black customers have complained or claimed that they would no longer buy from the brand because they view the acquisition as a form of selling out. Black founders are held to a different standard...

Martha’s Vineyard is a place of solitude for Black families during the summer. The island in Dukes County, MA, was recently featured in the popular Netflix series “Forever” directed by the legendary creator of “Girlfriends,” Mara Brock Akil. In the new show, characters Keisha Clark (played by Lovie Simone) and Justin Edwards (played by Michael Cooper Jr.) reconnect in Martha’s Vineyard after a breakup. Edwards’ family resides particularly in Oak Buff each summer. History Of Martha’s Vineyard Explained Furthermore, the location of their reconnection was intentional, per Brock Akil, who lives part-time in Martha’s Vineyard, according to Netflix. The series is adapted from Judy Blume’s 1975 YA novel of the same name, and Episode 5 takes viewers to Martha’s Vineyard, serving as a love letter to the island. “Understanding the essence of the island, even in the way it shaped the story, is important,” Brock Akil told Netflix. “You think you’re just arriving on the island, and you don’t...

Mark Cuban is stepping into a new game — this time alongside leaders working to reshape the face of professional sports ownership. According to Bloomberg, the billionaire entrepreneur and former Dallas Mavericks majority owner has been named a general partner in Harbinger Sports Partners Fund, a newly launched $750 million private equity fund targeting minority stakes in legacy U.S. sports franchises. The fund is co-founded and led by Rashaun Williams, a venture investor and limited partner in the Atlanta Falcons, and Steve Cannon, former CEO of AMB Sports and Entertainment, the parent company of the Falcons and soccer club Atlanta United FC, Bloomberg reports. Per the outlet, Harbinger is focusing on investments in teams across the NFL, NBA, and MLB. Williams, Cannon, and Cuban together bring operational experience, league relationships, and deal flow access to the table, significant factors that could set the fund apart from other institutional players entering the sports world....

Five Howard University students have earned a $1 million grant for their school after winning the fifth annual Goldman Sachs Market Madness competition, as part of its HBCU Possibilities Program, according to an announcement posted on the university’s website. As AFROTECH previously reported, Spelman College won in 2024. The winners of the 2025 Market Madness competition, Keyla Arrechea, Jordan Atkins, Aaron Harrison, Kadijah Mansaray, and Jada Rabun, were among the Howard students in the semester-long program, which is designed to provide, immersive introduction to key financial concepts and their real-world applications, as Goldman Sachs’ website states. During the competition, the Howard team competed against students from 11 other HBCUs. Most of the team had not yet completed their first semester of college when the program began, yet they advanced through two virtual rounds and ultimately delivered their final pitch live at Goldman Sachs’ New York headquarters. They were tasked...

Choosing the right name for a business or startup is one of the most critical branding decisions entrepreneurs make. A strong name can enhance visibility, improve search engine rankings, and make it easier for customers to find your business online. Since SEO plays a key role in brand discovery and, ultimately, a business’s name value , integrating search-friendly elements into a business name can increase organic traffic and improve brand recall. This guide explores SEO tips for naming a business or startup and ensuring the name is optimized for success in the online business world. Prioritize Keyword Relevance Without Overstuffing One of the most effective ways to optimize a business or startup’s name for SEO is incorporating keywords that are relevant to the industry or niche. Including terms commonly searched by potential customers in the name can increase the likelihood of appearing in search results. For example, a marketing agency named “Elevate Digital Marketing” may perform...

Unemployment insurance (UI) is a critical safety net for workers. It’s designed to provide temporary financial assistance to people who lose their jobs through no fault of their own. For startups , it’s important to understand the legal obligations around unemployment benefits, especially when navigating the challenges of hiring employees and managing payroll. While large corporations typically have well-established unemployment insurance practices, startups may be less familiar with the requirements. This article explores whether startups are required to offer unemployment benefits, how unemployment insurance works, and what employees and founders should expect. Understanding Unemployment Insurance And Employer Responsibilities Unemployment insurance is a joint federal-state program that provides financial assistance to eligible workers who are unemployed for reasons beyond their control. Each state administers its unemployment insurance program within federal guidelines. This...

Silent churn is one of the biggest threats to small businesses , often going unnoticed until it significantly impacts revenue. Unlike active churn, where customers cancel their subscriptions or explicitly stop purchasing, silent churn happens gradually. Customers disengage, reduce usage, or stop buying without officially severing ties, leading to a slow decline in business performance. Identifying silent churn early allows owners and entrepreneurs to take proactive steps to re-engage customers before they are lost entirely. Recognizing The Early Signs Of Silent Churn Silent churn does not happen overnight. It begins with small shifts in customer behavior . If ignored, these shifts lead to long-term disengagement. One of the most common signs is a decline in customer interaction. Warning signals include: users logging in less frequently, reducing their purchases, or spending less time engaging with emails and content. A drop in feature usage or product engagement is another...

Success in entrepreneurship isn’t just about big wins. It’s about small, consistent actions that build momentum over time. In Atomic Habits , James Clear emphasizes the power of tiny improvements, showing how habits shape outcomes in business and life. Entrepreneurs who master their daily routines, decision-making, and mindset can set themselves up for long-term success. Here are some of the most impactful quotes from Atomic Habits and how they apply to entrepreneurs. “You do not rise to the level of your goals. You fall to the level of your systems.” Many entrepreneurs set ambitious goals, whether it’s scaling their startup , increasing revenue, or building a personal brand. However, goals alone don’t drive success — systems do. Without a structured approach, even the best ideas fail. This quote emphasizes the importance of building repeatable processes that create consistent progress. Instead of focusing solely on outcomes, entrepreneurs should refine their workflows. A founder...

Building a successful startup requires more than just a great idea. It demands a unique set of traits that allow founders to navigate challenges, inspire teams , and scale their businesses. While many qualities contribute to entrepreneurial success, 2 successful traits in startup founders stand out as the most critical: resilience and adaptability. These characteristics don’t just separate successful founders from those who struggle. They also determine how well a startup can survive market shifts , financial pressures, and operational hurdles. Why Startups Fail, And How These 2 Successful Traits In Founders Make A Difference The startup world is notoriously unforgiving. About 90% of startups fail, and only a small percentage reach sustained profitability. According to CB Insights , the top reasons for failure include lack of market demand, running out of cash, and flawed business models. However, a deeper look into these failures reveals that many of them could have been avoided if...

Small business owners face a variety of risks, from economic downturns to lawsuits and unexpected disasters. When financial difficulties lead to bankruptcy, many business owners wonder if insurance can provide any protection. While insurance is designed to mitigate risk, not all policies cover bankruptcy-related losses. Understanding which types of insurance can help and what limitations exist is essential for business owners navigating financial uncertainty. The Role Of Business Insurance In Financial Protection Business insurance serves as a safety net against potential financial losses, but most policies are structured to cover specific risks such as property damage, liability claims, or employee-related incidents. Traditional business insurance does not directly cover bankruptcy, as bankruptcy itself is not considered an insurable event. Instead, insurance policies focus on protecting businesses from events that may contribute to financial distress, such as lawsuits, theft, or...

Allow your money to work for you. Financial experts Carter Cofield and George Acheampong are bridging the gap in financial literacy among Black entrepreneurs and professionals. Through their platform, Melanin Money, they aim to close the $100 billion wealth gap and help their users achieve their first seven-figure net worth, its website notes. As AFROTECH™ previously reported, the platform launched as an e-commerce brand but scaled into a financial social network in 2017. It offers courses on personal finance, wealth building, and entrepreneurship led by educators. In 2024, these workshops reached 20,000 people. “We decided to create this hybrid educational model where every other month we’re basically doing a virtual conference where people who may be not in a position to hire an advisor or are curious if an advisor is right for them, they get to learn our top strategies over the course of five days,” Acheampong said on the “Black Tech Green Money” podcast, which AFROTECH™ Brand...

The right circle can change your circumstances in the blink of an eye! Calling all early-stage, pre-seed, and seed founders — join the AFROTECH™ Insider Founders Circle to build for the future alongside a network that could lead to your next investor or co-founder. This membership aligns with our mission to empower Black entrepreneurs with the tools to succeed and drive innovation across industries, including fintech, medtech, and consumer tech. “At AFROTECH™, we strive to help make a difference and change the narrative regarding raising capital, starting and scaling a startup, and networking with the right people to help grow your business,” Blavity Chief Revenue Officer Michael Hadgis said on LinkedIn. “We created the AFROTECH™ Insider Founders Circle to help founders navigate the path and their business pitch become investor-ready!” Perks The sky’s the limit! Your direct participation in the AFROTECH™ Insider Founders Circle gives you access to exclusive perks, including office...