Get shared insights from two founders and CEOs.
Yvette Butler, Hive Wealth Founder, and Kelauni Jasmyn, General Partner at Black Tech Nation, held a conversation on LinkedIn Live about generational wealth and the tech industry, moderated by Kenn Michael, Director of Money Matters by Impart Media. Black Tech Nation, an organization supporting Black coders, innovators, and entrepreneurs, recently invested in Hive Wealth, becoming the app's first institutional investor. With a clear shared passion, Yvette and Kelauni had much to discuss.
Yvette started the conversation with a familiar story. Her grandfather’s family owned 500 acres of land in Texas with an estimated worth of $5 million — that is, until it was used to build a dam via eminent domain. A loss like this is not a one-time event. It cycles through generations and continues to affect us today. This is the wealth-destruction story Yvette wants to turn into a wealth-building story.
Kelauni grew up with two very different examples of financial philosophies — one parent who was tight with money and one less so — which occasionally caused confusion. The experience inspired her to think about generational wealth, the messages we send and receive about it, and the system our society has built around it.
She and Kelauni discussed why we should break the money taboo early and talk to our kids about money, their experiences in the tech industry, and the importance of self-education and self-empowerment.
Break the Money Taboo Early
In many communities, money has long been associated with shame, arrogance, and boastfulness — making it a topic people rarely talk about openly. This lack of conversation around money results in a lack of shared education about money.
Yvette shared that people in more affluent circles aren’t afraid to talk about money. Children grow up involved in these conversations and, therefore, learn how to maintain and continue building generational wealth.
It’s never too late to start planning for your future — or to involve children in the conversation and prepare them for their financial futures. Kids are never too young to start learning how to navigate the financial side of our society.
Technology Is Both the Cause & the Cure For the Wealth Gap
Technology has leveled the financial playing field in many ways. Those trying to break into the industry have to figure out a way to get their foot in the door. Once they do, there are endless opportunities and possibilities in an industry founded on innovation.
However, technology also exacerbates the gender, racial, and generational wealth gaps because these populations are not participating in the innovation economy enough. While Yvette recommended mainly making passive investments in a diversified portfolio, she added that 10–15% of your investments should be in technology and private companies — wherever innovation is — to support its growth.
Alongside investing, Kelauni spoke about her direct involvement in helping close the wealth gap through the tech industry with Black Tech Nation Ventures. She said that while technology can widen the gap, it can also close it with learning opportunities. The challenge is keeping up with how fast the tech industry moves and where its funding goes.
“Do the Best You Can Until You Know Better. Then When You Know Better, Do Better.”
This quote from Maya Angelou was part of the inspiration for Hive Wealth. Yvette believes knowledge gaps add to wealth gaps. On investing and building wealth, she recommended:
Investing in things you know.
Planning ahead — you should be investing for the long term.
Keeping an eye on expenses.
Yvette said two of the greatest blockers to harnessing these traits — what she calls “the essence of great investing” — are lack of confidence and access to information. She aims to help break those barriers down with the Hive Wealth app.
Forge Your Own Path
Yvette and Kelauni encouraged viewers to keep learning and dream big because passions are worth chasing — and doing so will help you build your wealth in the long run. Never stop learning, never stop trying, and never give up on yourself or your goals.