Gary Acosta is an entrepreneur, public policy advocate, investor, and thought leader passionate about advancing prosperity for Latinos and other underserved communities. As an industry leader, he protects and improves the business environment required to close the wealth gap, particularly via homeownership. Amongst other endeavors, he is Co-Founder & CEO of NAHREP, the country’s leading Hispanic business organization, and Co-Founder of L’ATTITUDE, the preeminent platform for Latino economic empowerment. Acosta is also a general partner of L’ATTITUDE Ventures, the nation’s largest venture capital fund exclusively focused on Latino-led start-ups. Join Gary as he dives into today’s issues through many creative formats.
In six weeks L’ATTITUDE will host its fifth annual event in San Diego, September 22 – 25, with another world-class lineup including CEOs, entertainers and some of the biggest names in business, media, sports and politics.
Last week, L’ATTITUDE Ventures closed its first institutional fund, raising over $100 million through a strategic anchor investment by JP Morgan Chase and initial investments from the Trujillo Group and Bank of America. Other key investors in this fund, which is aimed solely at investing in Latina(o)-owned companies with high growth potential, include UC Investments, MassMutual, Barclays, the Royal Bank of Canada, Polaris Limited Partners (Oscar Munoz), Cisco, Nuveen Investments, and Morgan Stanley.
For those of you that read my blog regularly, let me first say, thank you. The overwhelming comments I get from my blog are very positive and supportive. However, some of them make me feel like I have to periodically clarify what I do. As the CEO of NAHREP, I lead the largest Latino business organization in the country.
The Latino wealth gap in America is large. While Latinos have the highest workforce participation rate and are leading homeownership and new business formations, closing the wealth gap has been slow. According to the most recent Fed Survey of Consumer Finances, Latino families have one-fifth of the wealth as the typical Anglo-American family.
When the economy is growing rapidly, companies and consumers have more money to spend. The stronger demand for goods and services can cause prices to rise and inflation to spike. Inflation is not good. The federal government has two levers it can use to slow or stimulate economic activity: taxes and interest rates.
Interest rates are soaring and the stock market is in a free fall. If you’ve been around, you know that recessions are a normal part of our economic cycles. It’s articulated clearly in the NAHREP 10. The former Fed Chairman Alan Greenspan coined the phrase “irrational exuberance” prior to the dot-com bust of 2000.
For most people, there is little upside to writing about the January 6th hearings, but as you probably know by now, I don’t worry about those things. We all must stand for something. The hearings have almost everyone taking sides before a single witness is called. Democrats believe that the events of January 6th were a calculated effort to undermine our democracy by demolishing two of the most sacred tenants of our nation, free elections, and the peaceful transition of power.
I don’t consider myself an expert in blockchain technology – at least not yet. Cryptocurrencies and NFTs (non-fungible tokens) both use blockchain technology. That’s what gives them value. However, very few people can explain what blockchains are or how they work.
My son Aaron graduated today from Colorado College. He and his two sisters have four-year college degrees. Colorado College is expensive. Tuition at CC ranks among the most expensive in the nation. Inflation in the United States is the highest it’s been in 40 years, but college tuition inflation has been out of control for years.
Most people consider themselves either a conservative or a liberal. I think if we forget political parties, which flip their positions on things all of the time, and instead focus on the actual definition of what it means to be a conservative and what it means to be a liberal, we might be able to temper the emotional reactions some of us have with political discourse.
The speculation around Elon Musk’s plans for Twitter remained hot topic news this past week. Some of it is predictable: right-wingers who believe Musk will return Donald Trump to his rightful place as loudest voice on the social media platform, and lefties who think all billionaires are evil.
There is a saying that goes “when the tide rolls back, you can see who is swimming naked”. When the market is strong, it covers a lot of weaknesses. With interest rates moving up, inflation on the rise, and the economy heading towards a possible recession, we’ll find out soon how solid the foundation of the real estate market has been, and more importantly, which companies and agents have built a strong, recession-proof business.
How would you like it if the person sitting next to your child on an airplane is openly watching pornography on their iPad? What if a co-worker posted on a company group chat that you once molested a kid? What if banks, targeting the elderly, promised 1000% returns on an investment. In a completely free society, these things would be permissible, yet I doubt most people want America to be THAT free.
The conversation all week has been about the Will Smith meltdown at the Academy Awards. Everyone has an opinion on whose fault it was. Some believe Chris Rock was at fault and admire Smith’s valor in defending his wife. Others like Kareem Abdul-Jabbar say that Smith not only debased himself, he validated some of the worst stereotypes that some people have of Black Americans.
There is a mindset theory that states when things are going well, people tend to think they will always go well. When we are in that state of mind, we tend to ignore bad news… even deny bad news. The reverse is also true. When things are not going well, we tend to think they will always go badly, and we ignore and deny good news.
Some of you may have heard the phrase “A lion doesn’t concern himself with the opinion of sheep”. I am sure this is true both literally and figuratively. Another way to put this is: Confident people don’t concern themselves with criticism that comes from small-minded people.
As I write this blog, the Russian army is invading the bordering country of Ukraine. War is hell, and my heart goes out to the people of Ukraine. Americans who were born in the United States have no idea what it feels like to have their country invaded militarily by another nation. Ukraine was a…
NFL teams have 53 players and twice as many coaches, trainers, and support staff, but to win a Super Bowl you must have two things: an elite quarterback and a superlative coach. The Rams won the Super Bowl last week, with veteran quarterback Matthew Stafford at the helm. This past season was the first year…
Despite a decade of lawsuits and scandals, the NFL is bigger than ever. I enjoy football as much as anyone. While basketball and soccer have gone global, and baseball fades to second-tier status, football stands alone as the quintessential American sport. The latest NFL imbroglio is the lawsuit by Brian Flores. Flores claims he has…
Almost everyone is familiar with the Tom Brady story. Growing up in San Mateo, California, Brady was a lightly-recruited quarterback who didn’t show up on any major scouting publications. Even after a successful senior season at the University of Michigan, almost nobody thought he would make the NFL. Brady himself had a resume ready for…
