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Happy Sunday Everybody.
We'll kick this thing off with a recommendation about an amazing resource.
The GitHub Student Pack gives out free tools to the young and hungry, including a free, year-long subscription to Canva Pro (and tons of other software).
On to Issue 46!
Our Future Story
Daymond John's 1000 IQ play
You may know Daymond John as the best-dressed shark on Shark Tank, but not many people know where he got his style and his millions. In 1992, John founded FUBU ("For Us By Us.") -- an American hip-hop apparel company.
Hip-hop culture at the time was looked down upon due to its association with drugs and gangs, but John was neither a drug dealer nor a member of a gang. He was just a hard-working young man who was working at Red Lobster as a waiter.
Upset that some hip-hop artists and friends were refused the purchase of certain clothing brands, John and his friends decided to launch their own brand where no one could tell them what they could and could not wear. John, like many other successful business people, started his company in his mother's living room, hand-sewing sweatshirts and hats.
Growing up in a single mother's lower-middle-class New York City household, John defied all odds when his streetwear brand became synonymous with hip-hop. However, breaking into the hip-hop culture was not easy. John was forced to think outside of the box.
John was well aware that big-name rappers would not wear his clothing right away. Instead of focusing on the rappers, he focused on the rappers' bodyguards, creating XL and XXL shirts for the men who surrounded these famous artists. The bodyguards turned into walking billboards for FUBU, and whenever an artist was photographed, FUBU was always in the picture.
John’s first big break came when people like Miss Jones and Brand Nubian started to wear his apparel in their videos. Then LL Cool J got in on the hype, wearing FUBU everywhere he went.
And the rest, as they say, is history.
He's now etched on the Mount Rushmore of American entrepreneurship. John is the owner of a multibillion-dollar empire that includes fashion, media, and philanthropy. President Barack Obama recently appointed John as a "Global Ambassador of Entrepreneurship."
Our Future News
BNPL Hype
$29,000,000,000. Twenty nine BILLION dollars.
That is what Twitter founder Jack Dorsey’s digital payments company Square is paying to acquire Afterpay -- an Australian fintech company that lets customers buy products and pay for them in monthly installments.
This deal makes it the most ever in Australian corporate history. But why did Dorsey feel the need to pay this absurd amount of cash for this one company?
It has to do with the profitability of the Buy Now Pay Later (BNPL) market. Due to the pandemic, online shopping and cashless payments have seen a huge uptick in use and therefore making the market even more profitable. Not only that, but 70% of millennials are more likely to make a purchase if they can buy now and pay later.
Even more intriguing is the fact that Afterpay does not charge customers interest. The majority of its revenue comes from merchant fees, which charge a commission of about 5% on the transaction value plus 30 cents per purchase. Then, a small portion of its revenue is generated by charging late fees when customers fail to make timely repayments.
Now that the pandemic is coming to a close, BNPL may lose its hype, but for now, it’s something you may want to keep an eye on.
Our Future Profile
Mehul Rastogi 😎
This section is part of a new series highlighting all of the crazy ambitious young people we have on this newsletter! Every week, a new member of our 3.5K+ audience will answer a few questions!
1) The Backstory: My name is Mehul. I am from Kanpur, India and I currently attend Georgia Tech. I love meeting new people to expand my network 🌎I'm passionate about Communities, Creator Economy, Cryptocurrency, and much more!
2) Life or Work Hack: Notion is the best; have a realistic micro plan and an unrealistic macro plan. Growth and Empathy are the most important.
3) #1 Content Rec: Podcast: My First Million; Twitter Feed; Blogs about content that you're interested in.
4) Advice: Network with as many people as possible. Never hesitate to ask for a favour. Cold Emails can work wonders.
5) Follow me: Website, Twitter
This section is open to all readers! Do you want to be featured in our next profile 3.5K subscriber audience? Just fill out this form!
Our Future
Opportunities and Events For Job Seekers
1. Alter VC Recruiting Info Session (August 10) - Join Alter VC and Yana Yasevich, to learn more about open roles for students and recent grads in the Venture space! Yana is the Head of Platform at Alter. On a day to day, she helps build up Alter's portfolio companies' teams and share Alter's mission and story with the outside world. Prior to Alter, Yana co-founded a consumer sleep and wellness company and worked in Product at Fortune250 Estée Lauder.
2. Nailing the Consulting Case Interview (August 12) - Kenton is the Founder & CEO at RocketBlocks. Prior to RocketBlocks, he worked as a product manager and consultant. Join Rocketblocks and Ladder for this workshop to learn from Kenton on how you can prepare for the consulting case interview at firms like McKinsey, BCG, and Bain, including tips on the context behind case interviews and how you can demonstrate key skills that interviewers seek for!
3. Design Portfolio Review Sessions (August 10) - Join to receive feedback on your portfolio from experienced Designers at top tech firms including, Google, Electronic Arts, Facebook and more. They'll be providing one-on-one critiques and sharing their best tips on how to make your portfolio stand out, and how they landed their current roles!
Our Future Meme
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Written by: Jimmy Sikorovsky + Michael Sikand
Designed by: Elaine Su