The sad fact of the matter is that many other ethnicities use us as their American dream. We have become “super consumers.” We consume all the products and services that others dangle in front of our faces while ignoring our own Black-owned products and services.
On today’s Black Entrepreneur Blueprint podcast episode # 433, Jay discusses and dissects why we unconsciously create generational wealth for other ethnicities and what we need to do to start building generational wealth for our own community.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 433
Let’s look at the context of where We fit in in this society since we were bought here involuntarily.
Asset To Liability To Asset – THEY HAVE FOUND A WAY TO MAKE YOU AN ASSET AGAIN AND YOU’RE FALLING FOR IT
- Asset – When we were enslaved, we were an asset to white people, we provided free labor to build their wealth
- Liability – When we became free, we became a liability to white people because we were now competing with them for jobs, especially the building and trade crafts, that’s why unions were created to keep us out
- Asset – Since formal slavery was abolished, they had to create another form of slavery to make us an asset again, and this type of slavery comes in the form of the prison industrial complex and the super consumer. You have been brainwashed into thinking that designer clothing, and fancy cars, and spending money on dumb stuff like popping bottles is cool. But in all reality, you’ve just made yourself an asset for somebody else to build generational wealth.
WEALTHY PEOPLE ARE LAUGHING AT YOU
Why do you have to show you have money – it’s because there’s a self-worth issue. Look at me, look at what I have.
Wealthy people don’t want you to know what they have, they want to protect their assets
The loudest person in the room is the weakest person in the room – Frank Matthews NOT Frank Lucas was the man
EVERYBODY IS MAKING MONEY OFF YOU
You can’t wait to spend your last dime on the new designer handbag or shoes from people who don’t care about you (Italians, Europeans, French)
Other people come into our neighborhoods and open stores and extract the money (Asian, Indian)
You buy foreign cars that you can’t even afford to pay for a tune-up (Germans, Italians)
WE HAVE EVERYTHING WE NEED TO CREATE A GENERATION OF BLACK MULTIMILLIONAIRES AND BILLIONAIRES
We have the buying power of 1.6 trillion dollars
We have the brain power to create not just businesses, but PLATFORMS (social media, media, etc)
We have the technology
WHAT WE NEED TO DO TO CHANGE THIS
- Change our mindset of that from a consumer to a producer – build and support Black-owned businesses
- Work together with other like-minded Black people and organizations – collaborate
- Change the messaging in our music, media, and homes to highlight positivity – we’re the only ethnicity degrading 4 ourselves in front of the world (we need to balance all the dumb stuff)
- Take control of our narrative by creating strong media platforms (no need to be on cable tv anymore)
- Build and support our own financial institutions that give us access to capital
- Create learning centers to train and retrain our people for viable employment today and in the future (coding, cyber security, etc.)