Supply-Side Supporters: The Comeback Kid: Former members of President Raegan’s cabinet recently gathered in D.C. for a screening of a new PBS documentary about money. The group, which consisted of Larry Kudlow, the director of Trump’s National Economic Council, Former Presidential Candidate and publisher Steve Forbes, conservative think tank leader Stephen Moore, and others, is not similar in job history only; they all still support Raegen’s supply-side economic policy. And today, it’s paying off.
From Politico: “Members of the tight-knit group have shaped Trump’s signature tax cut, helped install each other in posts with vast influence over the global economy, and are working to channel Trump’s mercantilist instincts into pro-trade policies.”
India’s Youth Bulge: In the midst of a massive election in India, during which 900 million people will vote over the next five weeks, one commonality rings true regardless of party: there is a major shortage of jobs for young people. According to The Wall Street Journal, both rural and urban communities are affected by the lack of employment options and a growing working-age population isn’t helping.
More from WSJ: “Close to a million youths reach working age every month in India. Half of India’s 1.2 billion people are younger than 25 years old, making the country one of the world’s youngest. India must create almost 10 million new jobs a year just to keep up with the potential workforce.”
Meet Me in the Middle: We hear the term “middle class” thrown around often — by politicians, by peers, by marketers — but who, exactly, constitutes that demographic? Apparently 70 percent self-identified Americans, according to data from Fast Company. However, only 52 percent of those who ID as “middle class” fit the parameters by income. Why? Factors like “lifestyle creep,” where your cost of living increases the more you earn; or a general lack of awareness of how lower-income families live.
IPOs Cause Rate Hike: Ride-sharing users are joining investors in their wariness of Lyft and Uber. Not only have both the tech unicorns said they’re losing significant annual revenue ahead of their IPOs, but they also may raise their rates to make up for it, writes The Wall Street Journal.
Venmo Attempts to Turn a Profit … Again: Despite its ever-growing user-base, Venmo has still failed to come up with a substantial profit-turning method. However, in its latest efforts, the digital payment app is looking to the age-old model of credit cards to do so. Venmo, which is owned by PayPal, is said to be in talks with Synchrony for its credit card issuer and plans to roll out a product sometime this year, according to The Wall Street Journal.
Celebrating Earth Day with ESG: “ESG,” or environmental and social impact and company governance, was coined in 2005 but met with severe skepticism as a marketing ploy. Today, the once-trendy buzzword is now an industry best practice throughout the corporate sector. Read more on our blog.