A Landlord’s Gift

Daily Upsider on January 14, 2024

Britni Ricard, the founder of COTA Skin Care, also wears the hat of a property owner, having invested in a New Orleans apartment building with 10 units in 2019. The tenants in this building, predominantly single women with children, reminded Ricard of her own upbringing in public housing and the financial challenges her mother faced during Christmas time.

Recalling her childhood, Ricard shared, “It was tough. My mom was a single woman raising three children alone, and watching her continuously struggle as a child and wanting to figure out, ‘How can I help?'”.

In November, Ricard organized a pre-holiday meeting with her tenants. Then she surprised them with all with a gift— one month of free rent. A video capturing this generous gesture quickly gained traction on TikTok. In addition to the rent relief, Ricard extended her support by offering to organize a seminar to guide her tenants in becoming homeowners.

Kedesha Dunn, a single mother residing in one of the building’s units with her two boys, expressed gratitude for Ricard’s unexpected gift.
“Now I, you know, I don’t have to go try to take a loan out or something like ask my family for money,” Dunn said. “Like, I can do it now. Like, I can do it.”

“I’m an emotional person,” Dunn added. “I start to cry. ‘Cause I’m just like, that is so sweet. She’s uh, better than Santa Claus at this point. … Like a guardian angel” she added.

Positive Job’s Movement

Daily Upsider on January 12, 2024

While the economy continues to be tough, there are some positive movements. The nation’s employers added a strong 216,000 jobs in December, according to a recent government report. This increase exceeded the 173,000 jobs added in November, indicating the resilience of the American labor market despite higher interest rates.

The unemployment rate remained steady at 3.7%, marking the 23rd consecutive month that joblessness has stayed below 4%. However, some details of the report may not be well-received by the Federal Reserve, which is focused on fighting inflation.

Average hourly wages rose 4.1% from a year earlier, up from a 4% increase in November. This uptick in wage growth could make it more challenging for the Fed to slow inflation back to its 2% target. As a result, the central bank might be inclined to delay any cuts in its benchmark interest rate.

Some interesting details are were the jobs mostly came from. According to the Bureau of Labor Statistics, the largest gains were in health care and social assistance. Which gained about 58,900 new jobs. Followed by government jobs (mostly local) which gained around 50,000 jobs. Leisure and hospitality with around 40,000. While retail trade and construction both got around 17,000 respectively.

Bitcoin ETF Approved

Daily Upsider on January 12, 2024

Bitcoin, the world’s first and most popular cryptocurrency, recently received approval for several Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC). This long-awaited approval has led to significant changes in how both institutions and regular people can interact with largest cryptocurrency. On January 11, 2024, the SEC approved 11 Bitcoin ETFs for trading. Within minutes of the Bitcoin ETFs going live, Bitcoin’s price rose over 8%, reaching a new 22-month high.

The trading volume for spot Bitcoin ETFs was remarkable, with the first 30 minutes of trading recording a $1.2 billion volume. Early reporting suggests that it has easily broken the previous ETF first day trading flow/volume of all time, which was $2.1 billion. The leading ETF, the Grayscale Bitcoin Trust (GBTC), recorded an impressive trading volume of $446 million in the initial minutes. The approval of the Bitcoin ETF has made Bitcoin much more accessible to large institutions, such as hedge funds and financial institutions. These institutions can now invest in Bitcoin through a regulated and transparent platform, reducing the risk and complexity associated with direct investment in the cryptocurrency.

This increased accessibility has the potential to drive further growth in the Bitcoin market as more institutional investors enter the space. For individuals, the Bitcoin ETF has made it easier to invest in Bitcoin through traditional investment platforms. Investors can now access Bitcoin through their brokerage accounts, IRAs, and even company 401(k)s. This ease of access has the potential to attract a new wave of individual investors who may have been hesitant to invest in Bitcoin through more complex and less regulated channels.

Asia’s Young & Wealthy Art Collectors

Daily Upsider on January 11, 2024

There is an interesting shift in the art collection world. Wealthy young collectors in Asia, particularly millennials and Gen Z, are boosting the demand for art, notably through online channels.

High-net-worth millennials in Asia increased their spending on art, with notable contributions from mainland China, Singapore, and Taiwan. International auction houses, including Christie’s, Sotheby’s, and Phillips, have seen a significant uptick in purchases by young Asian collectors. Millennials accounted for almost 40% of Christie’s buyers in Asia Pacific, with a 65% increase in Gen Z buyers in 2023. South Korea and Taiwan stood out as key contributors to the flourishing art market in 2023.

Young collectors are reshaping art preferences, favoring digital art and prints (Gen Z) and sculptures, installations, and film or video art (millennials), according to the Art Basel & UBS report. Millennials are drawn to figurative and surrealistic works, expressing a preference for emerging artists over blue-chip names .

In Asia, millennial buyers are embracing both contemporary and classical Asian art, reflecting a cultural connection. At Christie’s 2023 Hong Kong Autumn Auctions, 40% of new buyers acquiring Chinese ceramics, paintings, and artworks were millennials.

“We have increasingly millennials and younger collectors buying at Christie’s [and] starting to collect … that we’ve been able to also engage much more with all our digital innovations,” Francis Belin, president of Asia Pacific at Christie’s said

Arizona Teacher Reunites with Japanese Host Family

Daily Upsider on January 11, 2024

After Japan’s 7.6 earthquake on January 1st, Anne Hanson, a veteran educator, urgently sought information about her former host family in Uozu, near the quake’s epicenter. Unable to reach them through old email addresses, she filled out a form on Uozu City Hall’s website.

Anne, recognizing the slim odds, hoped someone would be able to locate Akihiko Kiyokawa, her host from 22 years ago. She included her Fulbright Memorial Fund alumni status in her email’s subject line. Knowing the community’s respect for American teachers from the program, hoping it might increase her chance of reaching her former host family.

Miraculously, within 24 hours, she received an email when friend of Akihiko, who spoke English happened to have seen Anne’s message and forwarded it to her.

The Japanese woman and her relatives had lost their homes, but nevertheless reported good news from the disaster.

“Fortunately, there were no injuries and my life was saved,” she wrote. “Under these circumstances, I never expected to receive a message of sympathy from America. I believe this is a truly miraculous event that should make it onto the news. I would like to cherish it.” Akhiko said.