Is The U.S. Losing Its Chinatowns?
09:43
CNBC Make It

Is The U.S. Losing Its Chinatowns?

There are more than 50 Chinatowns spread across the United States. On the surface, they are vibrant cities within a city like in New York, San Francisco, Chicago and Boston, bustling with tourists and natives seeking authentic cuisines like hot pot and dim sum, herbal medicines and tchotchkes. Their look and feel have been replicated from city to city to be what people think of as an emblematic icon of Chinese culture, but Chinatowns weren’t always the tourist hubs we know them to be today. What most visitors see is just one side of their longstanding history as a cultural tourist attraction, but transforming an ethnic neighborhood into a destination wasn’t without its challenges. For as long as they’ve existed, Chinatowns have always been under threat, but their resilience to overcome decades of persecution lie in the ingenuity of their residents and the support of generations that have fought for it to survive. Today, this unique Asian American cultural hub is coming under attack again from xenophobia, the pandemic, and government inaction— sparking a wave of local activism with support spanning across several generations to preserve a legacy. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt
How U.S. Student Loans Became A $1.6 Trillion Crisis
10:12
CNBC Make It.

How U.S. Student Loans Became A $1.6 Trillion Crisis

College is more expensive—and important—than ever before. Some 44 million Americans collectively hold nearly $1.6 trillion in student debt. And these numbers are growing. This decade alone, college costs increased by 25% and student debt increased by 107%. Today, college graduates earn 80% more than those with just a high school diploma. That dichotomy is putting students in a difficult situation: Do they risk going into crippling debt at the beginning of their adult lives in the hope the investment turns into a career financial stability that goes with it? Some 44 million Americans collectively hold over $1.6 trillion in student debt. And these numbers are growing. At the same time, advancements in technology, especially automation, are making it harder to earn a living wage without some type of advanced degree. Today, college graduates earn 80% more than those with just a high school diploma, on average. College is more expensive — and important — than ever before. And that dichotomy puts students in a difficult situation: do they risk going into debt they can’t pay back or miss out on the benefits of a college degree? Experts have long labeled this dynamic a “crisis.” But then, another kind of crisis hit: the coronavirus pandemic. And then, an economic crisis followed. In February, the United States officially entered an economic recession and between mid-march and June, over 42.6 million Americans filed for unemployment. During the 2008 recession, many opted to go back to school and gain new skills. However, since then, the cost of a four-year college degree increased by 25% and student debt increased by 107% and many are less sure if college will be the solution to riding out a recession this time around. CNBC Make It spoke with students, borrowers, historians and experts to learn how student debt became a crisis, how the pandemic will impact borrowers and who is to blame for putting students in an impossible position. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt How U.S. Student Debt Became A $1.6 Trillion Crisis
How The Model Minority Myth Keeps Asian Americans Out Of Management
12:34
CNBC Make It

How The Model Minority Myth Keeps Asian Americans Out Of Management

If you are Asian in America, you probably grew up with the idea that you had to keep your head down, get perfect grades, and work hard to achieve wealth and success. Many of these ideas are because of the model minority myth—a set of assumptions about Asian American achievement and behavior that have held Asian Americans back from equal opportunity in academia, the workforce, and necessary government welfare. However, the perception of overachievement also leaves Asian Americans out of important equity conversations and suppresses their career growth. In recent years, Asian representation among college students and in executive leadership has come under scrutiny. According to studies, nearly 60% of Asian Americans go to college. After school, they comprise 13% of working professionals but just 6% of executive leadership. So is the career suppression of Asian Americans a hidden form of racism? If not, why exactly have Asian Americans been underrepresented in management roles, and what can we do about it? For many years, anti-Asian biases and discrimination have largely gone unacknowledged. Until now, as the nation takes a closer look at the origins of discrimination in a climate of racial reckonings and increased violence. Read more about about this story here: https://cnb.cx/2QU9XU5 In some ways, Quincy Surasmith says he didn’t feel like an outsider growing up. Surasmith, who is Thai- and Chinese-American, was raised in a part of L.A. that had a large Asian American community. But while Surasmith excelled in his early school days, by high school, his grades were slipping. He was engaged in class and tested well, but he stopped completing his homework and his GPA suffered. “I almost flunked out,” Surasmith says, “and [teachers] didn’t have an answer for that. They were like, well, why wouldn’t you want to achieve?” What teachers didn’t consider was that, because of disruptions at home during his parents’ divorce, filling out extra worksheets after school wasn’t exactly his priority. Additionally, “it was expected of us or assumed of us that we were kids who had parents who had steady incomes and access to money for extracurricular activities or prep classes, or even just having like a car to get to places,” Surasmith says. “But I know I didn’t necessarily have all those things.” Surasmith’s experience is just one of countless examples of how Asian Americans have been subject to the model minority myth — a set of assumptions that Asian Americans are hardworking overachievers who have made it to the highest levels of success. By positioning Asians as the model minority race, it also assumes that Asians don’t need any help, and don’t require any further examination of how their race is discriminated against. But these assumptions are just that, and the consequences of the stereotype go beyond the classroom. “By grouping all the Asian Americans together and assuming all of them will do well just because you’ve measured them as a group, you end up ignoring the people who might not fit into that,” Surasmith says. For decades, the model minority myth has kept Asian Americans out of important equity conversations and held members of the community back from equal opportunity in academia, the workforce and necessary government welfare. The origins and consequences of the model minority myth The term “model minority” was first coined in the 1960s by sociologist William Petersen for a New York Times Magazine article. It was used to describe the so-called “success stories” of some Japanese American families, who during World War II were forced into internment or pushed to enlist in the military as a means to prove their patriotism, yet were able to rebuild and reintegrate into society after the war. Ellen Wu, an associate professor of history at Indiana University Bloomington, links this portrayal to essentially a rebranding effort as the U.S. rose to become a global super power. If America was truly the land of democracy and equal opportunity, U.S. leaders had to show that immigrants could overcome anything, even racist and exclusionary policies, to succeed here. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt How The Model Minority Myth Keeps Asian Americans Out Of Management
Living On $145K A Year In Austin, Texas | Millennial Money
10:02
CNBC Make It.

Living On $145K A Year In Austin, Texas | Millennial Money

Andrea Contreras, 31, lives in Austin, Texas and earns $145,000 a year as a social media advisor at GoDaddy. Five years ago she had a negative bank balance, but Andrea recently purchased her first home. This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money. Read more about Andrea''s budget breakdown here: https://cnb.cx/2AbTnGF Looking around her one-bedroom apartment, Andrea Contreras gazes from the guitar collection on the wall to the Gucci-inspired sweatshirt her Yorkie mix, Kuzco, wears. She can’t believe it’s all hers. “Five years ago, I had nothing,” the 31-year-old remembers. Years of partying in her early 20s landed Contreras in a dark place: She had no money, no support system and no goals for her future. But today, things look vastly different. Contreras has family and friends to turn to in hard times and a career she enjoys. Plus, her apartment is full of furniture and keepsakes that she bought herself. “It’s such a blessing to see everything in here, when I had literally nothing,” she says. As a social media advisor at GoDaddy, Contreras sells social media assistance programs to small business clients across the U.S. She earns a base salary of just $20,000, but with commissions from her sales, she pulled in around $145,000 before taxes last year. She not only lives well in Austin, Texas, and supports herself financially, but she’s comfortable with the direction her life is going. “If I want to go on vacation, I can take a vacation. If I want to help someone out, I can help someone out,” she says. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt #MillennialMoney Living On $145K A Year In Austin, Texas | Millennial Money
How Supreme Built A Billion Dollar Brand Empire
10:02
CNBC Make It.

How Supreme Built A Billion Dollar Brand Empire

Apparel brand Supreme started as a small and edgy New York City skateboard shop in 1994, and with word of mouth marketing and a product-scarcity strategy, it has grown into a global brand with a cult following and a billion-dollar valuation. Since its conception in 1994, underground streetwear brand Supreme has transformed from a small indie skateshop in New York to a $1 billion global company with a massive following. Some have equated Supreme’s success to the scarcity in its supply, often creating spiraling lines of people camping out in lawn chairs all night, making their items skyrocket in resale value with quadruple-figure price tags. Founder James Jebbia initially justified their limited supply as a way to avoid leftover items that no one wants, however this has strategically resulted in instant sellouts when new product lines are released. Desperate for apparel ownership, Supreme’s cult-like following of "hypebeasts" has purchased every obscure accessory from fire extinguishers to nunchucks and crowbars creating a global phenomenon that is attracting copycats and underground resellers. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt #Supreme How Supreme Built A Billion Dollar Brand Empire

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