The one LGBTQ+ think tank to know about

Also: How Reddit re-engaged millennials on investing -- but not always in a good way.

Author

Nick Wolny
June 10, 2024

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Today I have for you the results of a new LGBTQ+ community survey, a friend link to a nice Bloomberg long read, a way to better organize your DMs and some hot links from around the web.

—Nick Wolny

The one LGBTQ+ think tank to know about

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The Williams Institute is a U.S.-based think tank that specializes in proprietary research on queer life. WI data sets have been leveraged for important policies and protections over the last 25 years, most notably in arguments that led to same-sex marriage becoming federally legal in 2015.

The Institute's latest report, “We Are LA!”, took a more subjective look at how LGBTQ+ people experience community in the nation's second-largest metropolis.

The survey found LGBTQ people feel that they make significant contributions to the Los Angeles County community, often grounded in the ways in which LGBTQ people differ from non-LGBTQ people, including differences based on lived experiences such as being closeted, bullied, and discriminated against.

For many, the contributions that LGBTQ people make are an integral part of the County’s history, identity, culture, and economy. In the words of one respondent, “Los Angeles would not be who and what it is without the LGBTQIA+” community. In the words of another, “Without LGBTQ people, LA would just be traffic.”

Why it matters

The Institute is doing this research to help illustrate how queer communities diversify and enrich city life.

The types of contributions provided by LGBTQ people fell into five main areas. Check out the press release to see what they were in more detail.

How Reddit reshaped some millennials' investing malaise

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The GameStop frenzy is back, and “Roaring Kitty” is helping Reddit users juice Wall Street.

To understand what's happening here, we need to go back in time a bit, to 2011. Millennials were trying to enter the workforce, but the past few years had been especially rough because of a housing crisis that led to a recession. Millennials weren't saving, and they certainly weren't investing. Malaise set in around the tried-and-true advice to invest your money early and often.

Instead, millennials and other curious traders found community in online forums. A Reddit community called WallStreetBets took off, partially because of the financial information, but also because misery loves company.

If you're in the mood for a story-driven long read about money and investing, this Bloomberg Businessweek feature will certainly scratch the itch. Read it for free (for this week only, per Bloomberg's friend link rules) with the friend link below.

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Reading is fundamental

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Online business industry

Twitch announced a program allowing DJs to split revenue with record labels. The partnership gives DJs a much wider library of current music to potentially mix to during their live streams. (The Verge)

Meta rolled out a Communities feature on Messenger. The tool will allow users to invite up to 5,000 people to a Community that operates entirely within the Messenger ecosystem. WhatsApp, also owned by Meta, has a similar feature. (TechCrunch)

LinkedIn will limit ad targeting capability to users in the EU, following data privacy complaints. LinkedIn ads are famously valuable, but also famously expensive. The complaints pertained to advertisers' ability to target users based on their participation in LinkedIn groups. (TechCrunch)

TikTok fixed the vulnerability that led to malware attacks on accounts simply from opening a direct message. CNN, Paris Hilton and other high-profile accounts had been impacted. (Axios)

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Money

May 2024 job creation in the U.S. was 50% higher than expected. The BLS' jobs report, which came out on Friday also found that wages rose slightly for the first time in months. Unemployment also ticked up slightly. (CNN Business)

“ChatGPT Built My Budget For Me. It Was… OK.” Nice "I tried it" piece from my colleague Kelly Ernst. (CNET)

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AI and Future Tech

Adobe released new Terms of Service language, then had to roll back and clarify its position when creatives revolted. The language said all content made in Adobe would be used to train its AI models; some design professionals noted that this process in itself violates the privacy clauses of NDAs they have with clients. (VentureBeat)

CNET released its Editor's Choice picks for AI, future tech and smart home tech. Who's the best chatbot of them all? Click through to find out. (CNET)

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LGBTQ+

Out Leadership released its 2024 State LGBTQ+ Business Climate Index. It's the second year for this report, which examines which states are most amenable for LGBTQ+ business owners, based on political landscape and state-level protections. (Out Leadership -- PDF)

Colorful Capital, an LGBTQ+ venture capital firm, released a new whitepaper. It's entitled “Outsized Impact: How Investment Can Address the Systemic Risk of LGBTQIA+ Inequity,” and is free to read. (Colorful Capital)

Digestif

Tired of chats with friends being spread out across a dozen+ apps? You need to look into Beeper.

It's an app that pulls in DMs from 14 different other apps so you can see them all in once place. The shortlist includes Slack, Instagram, LinkedIn and others.

Credit: Beeper App

Context switching is such a drag. Make it easy -- you'll thank yourself later. 🙌

Cheering you on,

—Nick

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