Pop culture stimulates the evolution of the LA tech scene — TechCrunch

It wasn’t so long ago that venture capital was a suburban California phenomenon. Los Angeles didn’t have much in terms of a real tech scene — and even San Francisco only had a few VCs or tech companies. Now, VC offices have sprung up in San Francisco, moving more of the investment energy up there.…

via Pop culture stimulates the evolution of the LA tech scene — TechCrunch

College students and credit management

sad student

Average student debt is $22,813

According to a national survey by Experian, college students may be receiving their degrees, but their financial management knowledge still needs some schooling.

The survey reveals some troubling data about recent graduates:

  • Average student loan debt is $22,813
  • 31% have maxed out a credit card
  • 39% have accepted credit card terms and conditions without reading them

Students are giving their educators a failing grade, according to Experian: 

One in five gives their college an F grade on preparing them to understand how credit works.

  • 40 percent of those surveyed rate their current financial security as poor or fair, and only 16 percent of soon-to-be graduates already have a post-graduate job lined up
  • 68 percent have needed the support of a recent cosigner, but 53 percent feel that being debt-free is an attainable goal in today’s economy

Read the full Experian study: Here

Colleges failing in credit education

sad student

Are your students credit savvy?

According to a national survey by Experian, one in five college grads give their school an “F” in credit education.

Read the Full Report

Additional survey highlights:

  • 69% will have student loan debt after graduation
  • 71% did not learn about credit and debt management in college
  • 55% feel like they are “going it alone” when it comes to their finances
  • 72% express concern about paying off their debt

Credit is a skill — one that can be developed through the right education. The Experian Credit Education blog has useful information to help college grads learn the basics of credit and how they can improve their credit score.

Source: Blaine Lyerla is Managing Editor at Experian Consumer Services, which empowers consumers to expand their credit and finance knowledge online in order to live credit confident.

#MasterCard to Launch Talking Credit Card

In another bold and innovative move by the payments company, MasterCard announced today it is launching a talking credit card to help shoppers make better informed decisions.

The new talking card, called “MasterCard Mouth” is embedded with a tiny microchip and speaker that helps shoppers compare pricing, make recommendations, even suggest where to buy something for a lower price. If the purchase amount exceeds the cardholder’s credit limit, it makes a gentle suggestion, “not now”.

“Mouth” is able to automatically adjust it’s volume and voice to the level of ambient noise. This allows it to speak as in a whisper voice in quiet locations, or shout out loudly in crowded and noisy environments. Cardholders can select from several voices, as well.

Wells Fargo Bank and Citibank have agreed to start issuing the card later this year.

Source: MasterCard

Millennials don’t want a paycheck anymore.

According to a new study by The Center for Generational Kinetics and prepaid payroll card issuer Global Cash Card, roughly five million Millennials do not have a checking account.

Currently the largest generation in the American workforce, Millennials are choosing unconventional banking options more than any other generation. The research found that the main reason for this is a distrust in banks, cited at 48%.

New national study finds Millennials don’t have checking accounts and @Paycards is promising solution. #LetsGoGCC

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The national study, being released today in a white paper titled, “New Financial Reality: The Rise of Non-Traditional Wage Management,” revealed that paycards are viewed by this generation as a viable and beneficial solution to avoid traditional banking methods.

Students are a key market

Millennials are not intimidated by prepaid payroll cards.

One third of Millennials – over 29 million workers – said that they found the concept of a paycard valuable and 64% believe paycards should be offered by employers. While having additional payroll choices was part of the appeal, paycards were also identified as having a positive effect on financial habits. 75% of current paycard users said that paycards help them save for retirement, and roughly one-third of Millennial workers – more than 18 million people – expect this would be the case if they received their wages on a paycard as well. With Millennials and current paycard users shown to be the most likely to receive payroll education and understand their options, these findings speak volumes.

Jason Dorsey, Millennial expert and researcher at the Center for Generational Kinetics, commented, “The landscape of personal finance management, including pay, is shifting dramatically, and that change is being led by Millennials. In order to attract the best talent and meet the needs of this generation entering the workforce in record numbers, employers must embrace alternative payroll options. Our study offers insights to help understand Millennials’ perspective and in essence… keep up with the change.”

Added Michael Purcell, Executive Vice President and Chief Marketing Officer of Global Cash Card, “This study validated for us that today’s employees don’t just recognize the benefits of paycards; they need them now more than ever. In an increasingly tech-driven and connected world, we help employers meet the changing demands of young workers through our affordable and convenient paycard services.”

Visit info.globalcashcard.com/paycardrevolution to download a copy of the white paper that offers a complete set of the findings, along with an infographic.

Alzheimer’s Research UK presents #sharetheorange

Last year, on World Alzheimer’s Day, Richard Branson blogged about alarming data that showed that one in three people born in 2015 will go on to develop dementia in later life. What’s more alarming, however, is that most people view dementia as an inevitability.

This is untrue. Dementia is caused by diseases, and diseases can be prevented and beaten. To make this point clear and confront misunderstanding around dementia, Alzheimer’s Research UK has released the stop motion animation below.