Author Interview: How to prepare for ‘Elevated Economics’ with Richard Steele

The consequences of business inaction in regards to ESG are detrimental. When companies adjust and take action, it pays off. Richard shows the irreversible trend of environmental, social, and governance (ESG) as key success factors, as well as the emergence of socially responsible investing (SRI), and provides a framework for how to take your business forward In ‘Elevated Economics’.

Richard Steel is an American entrepreneur, investor, and consultant. He has run private and public companies, served on nonprofit boards, and advised the White House Business Council. He is an advisor to large and mid-size companies, governments, startups, and nonprofits. Currently, he is the CEO of a venture firm and chairs a philanthropic fund. Richard is an alumnus of Harvard Business School where he serves on the Alumni Board. 

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Twitter: @ElevatedEcon

Elevated Economics: How Conscious Consumers Will Fuel the Future of Business 


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Verzuz Econ Edition: Trumponomics v. Bidenomics | Hosted By: Walton Mabuto (@FinanceFridaysPod)

The 2020 Presidential Election is less than 60 days away and in a media landscape filled with fake news and propaganda,  Walton Mabuto (@FinanceFridaysPod), and I decided to team up and do a podcast discussing the facts. Particularly the facts regarding each candidate’s proposed economic policies. Our goal is to gear you all with the information to make an informed opinion regarding each candidates platform.

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Podcast: Anchor FM

#DefundThePolice: An Economic Perspective

#DefundThePolice is currently a trending hashtag that has transformed into a movement that aims to combat police brutality through fiscal accountability. You may be wondering what exactly does this look like? Don’t worry it all is explained in this podcast.  

The Economics of Solidarity using R!


Did standing in solidarity with ‘Black Lives Matter’ help or hurt publicly traded companies in the USA?


George Floyd’s murder prompted an international outcry denouncing police brutality and white supremacy. Unlike previously recorded police murders and violence against black people, this death prompted big corporations to make public statements along with donations to support organizations against racism and injustices. As the Junior Economist, I was very interested in exploring the stock prices of the companies who pledged their support of ‘Black Lives Matter’ and how this has affected their perceived value.


To explore this empirically, I decided to use R to compare stock prices of publicly traded companies from the date George Floyd was murdered until June 10th (the day I wrote this). I separated the companies by those who made donations and those who made statements. When making this list, I used parent companies of some subsidiaries and the data that was available through R’s ‘getSymbol‘ function.

The R code to reproduce these results can be found here!


Nike (NKE)

UnitedHealth Group (UNH)

Comcast (CMCSA)

Verizon (VZ)

Facebook (FB)

Amazon (AMZN)

Bank of America (BAC)

Disney (DIS)

P&G (PG)

Lyft (LYFT)

Lululemon (LULU)

Pokemon Company (NTDOY)

Sequoia Capital (SEQUX)

Alphabet (GOOGL)

Electronic Arts (EA)

McDonald’s (MCD)

Apple (AAPL)

Slack (WORK)

Away (AWAY)

Uber (UBER)

Cisco (CSCO)

Intel (INTC)

Shopify (SHOP)

WeWork (WE)

Gap Inc. (GPS)

Etsy (ETSY)

Louis Vuitton Moet Hennessy (LVMUY)

Peloton (PTON)


Ben & Jerry’s (BJICA)

Twitter (TWTR)

Yum Brands (YUM)

ViacomCBS (VIAC)

Warner Brothers (TWX)


Starbucks (SBUX)

Sony (SNE)

Microsoft (MSFT)

SnapChat (SNAP)

BlackRock (BLK)


Public companies that have made/pledged public donations to the ‘Black Lives Matter’ Movement

Public companies that have made statements in solidarity with the ‘Black Lives Matter’ Movement

After refining the R code and reviewing each graph, the results were somewhat surprising. Most public companies that stood in solidarity with the ‘Black Lives Matter’ movement faired better than they originally started before George Floyd’s death went mainstream. However, Shopify and Slack were two companies that were not as lucky. Both tech companies initially rose, then had a steady decline, and as of June 10th have decreased below their lowest price, which was recorded on May 25th. Moreover, 1/3rd of the companies that donated experienced very tumultuous climbs which include: Intel, Facebook, Bank of America, Disney, Lyft, Nintendo, Uber, Gap, and Google. The same thing was observed by 3 companies who made statements, which include Twitter, General Motors, and Starbucks.


When big corporations decided to give their support to ‘Black Lives Matter’, they took a bold stance and a possible blow to their bottom line. However, all companies that decided to take acknowledge racial injustices gained more favorability through pricing in the stock market, even if it was just for a few days. This begs the questions of, “Do Big Corporations care, or is this interest convergence to protect their black dollar?”, which can only be answered through an analysis of their future C-Suite diversity, and their annual reports.


The Junior Economist would love to hear your thoughts on this, please feel free to add to the conversation through comments!

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10 Actionable Steps to Economically Empower Black Communities

Did you know….

  • Black American unemployment has ticked to 16.8%, according to the Bureau of Labor Statistic’s May Unemployment Report.
  • Black Americans earn 20% lower than white workers regardless of education.
  • Black Americans only own one half of a percentage point of wealth in the United States.
  • Single black women with a bachelor’s degree ages 20-39 have a median net worth of -11,000 to $0 while the white woman has a net worth range of $3,400 – $7,500.
  • Jobs with the highest median annual salaries, white workers outnumber black workers with proportions no lower than 7-to-1 and as high as 28-to-1.
  • It is predicted that black wealth may fall to 0 by 2053. 


From the congressional mismanagement of the Freedman’s Savings Bank to the GI Bill, systemic racism is a strategy that continues to oppress black lives and livelihoods. Wealth has been legally stripped from black communities before it even had the opportunity to grow. We have constantly protested for our humanity and rights as citizens to be recognized in a country where we were once only considered three-fifths human. It is time for the black community to demand substantial social standing through economics, not just civil reforms. It is time we unite to counter these effects by establishing platforms and wealth creation vessels that work in our self-interest. For this reason, I curated an action plan inspired by the likes of Dr. Claud Anderson, Operation Breadbasket, and Ten Point Plan by the Black Panther Party.  It is time to pivot from working hard to no vail to working smarter through intentional efforts.


It is time to change the narrative by speaking truth to power by changing our actions and hone in on economic development and progression. Look for an expanded version of this list in an upcoming podcast!

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The Junior Economist Talks: COVID19 with Rebecca!

Meet Rebecca Fornie (@_bombshellbecky)! She is an Atlanta native and a ‘Jill of All Trades’! Rebecca is a beauty entrepreneur and Corporate Allstar. During this interview, Rebecca imparts some gems for the modern business owner, as she details how she is navigating her lash business (@__bombshelllashes) and having to pivot her event planning company (@_bottlesandbeats). She also gives us insight on her career with the National Black MBA Association (@atlbmba) and the benefits of joining! We also speak very candidly about the implications to George Floyd’s untimely death, Amy Cooper’s actions, and more! This is a conversation that will surely being value to you, especially if you’ve been laid off or furloughed!

COVID-19 is changing the way we spend our time and the way we work. The Junior Economist is compiling stories of millennials around the world to let you all know how they are coping with the pandemic.

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Bottles & Beats: Botttles & Beats Event Planning

Bomshell Lashes: Bombshell Lashes

Join The Black National MBA Association!

Want more information on the National Black MBA Association? Visit their Atlanta Chapter’s Website or the National Chapter’s Website.

Weekly Economic Updates | Week of May 25 | #RIPGEORGEFLOYD

This economic news update covers economic news ranging from May 25 – May 30. In this episode, the Junior Economist details unemployment numbers, the economic implications of George Floyd’s death, President Trump’s historic actions as it relates to global organizations, and much more!  

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Weekly Economic Updates | For Week of May 11th

An economic update of the events that occurred beginning May 11 to May 15. The podcast details the contents of the Fed’s Bi-Annual Financial Stability Report, a general overview of markets, and the stock market!

Weekly Economic Updates | Week of May 4th

Happy Mother’s Day from the Junior Economist! This week’s episodes features an update on the unemployment rate, the new phenomenon that is happening in regards to women, Africa’s newest trade agreement, and more!

The Junior Economist Talks: COVID19 with Deja!

Meet Deja Rozier ( @Dejfro )! She is an Atlanta native, that just finished her first year of law school in Durham, North Carolina. Deja speaks candidly about her experience with having to complete the rest of the semester online and her outlook on the future of the legal industry.


COVID-19 is changing the way we spend our time and the way we work. The Junior Economist is compiling stories of millennials around the world to let you all know how they are coping with the pandemic.