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Will Smith Invests in App that Helps Teens with Financial Literacy

THE BIRMINGHAM TIMES — Will Smith recently became an investor in Step, a mobile-based banking service app for teenagers, through his Dreamers fund. Step allows teens to easily send and receive money from their family and friends, get real-time notifications, and they don’t have to deal with the monthly or overdraft fees and no minimum balance that traditional banking customers incur.

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By Sequoia Blodgett

Will Smith recently became an investor in Step, a mobile-based banking service app for teenagers, through his Dreamers fund. Step allows teens to easily send and receive money from their family and friends, get real-time notifications, and they don’t have to deal with the monthly or overdraft fees and no minimum balance that traditional banking customers incur.

The platform’s lead investor is Stripe. Other investors include Nas, Jeffrey Katzenberg’s Wndrco, Ronnie Lott, Matt Rutler, Kevin Gould, and Moat founders Noah and Jonah Goodhart. Those investments translate into $22.5 million in funding.

This isn’t the company’s first round raised, however. Prior to this, the company closed a previous round with Crosslink Capital, Collaborative Fund, and Sesame Ventures.

“Schools don’t teach kids about money,” CJ MacDonald, the CEO, and co-founder said in an interview with TechCrunch. “We want to be their first bank accounts with spending cards, but we also want to teach financial literacy and responsibility. Banks don’t tailor to this, and we want to be a solution for teaching the next generation of adults to be more responsible with money in the cashless era. It was easy with cash to go to the mall but now everyone is using their phone for Uber and more.”

The funding will be used to bring Step’s first product to market, banking accounts with payment cards attached. This will be done in partnership with Mastercard and Evolve.

Step currently has a waitlist of over 500,000 potential users waiting for access to the product.

Step isn’t the first company attempting to tackle this problem. Other startups include Current and Greenlight. What makes Step different? The offerings. Step directly addresses teens by giving them ownership over their finances. The parents still have access but, Step puts the teen in control. Those under 18 can sign up for accounts without parental or guardian consent gaining access to an account with extremely limited functionality. The overarching goal for Step is to financially empower the youth.

This article originally appeared in The Birmingham Times.

Bay Area

Glydways Breaking Ground on 14-Acre Demonstration Facility at Hilltop Mall

Glydways has been testing its technology at CCTA’s GoMentum Station in Concord for several years. The company plans to install an ambitious 28-mile Autonomous Transit Network in East Contra Costa County. The new Richmond facility will be strategically positioned near that project, according to Glydways.

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Image of planned Richmond facility courtesy of Glydways.
Image of planned Richmond facility courtesy of Glydways.

The Richmond Standard

Glydways, developer of microtransit systems using autonomous, small-scale vehicles, is breaking ground on a 14-acre Development and Demonstration Facility at the former Hilltop Mall property in Richmond, the Contra Costa Transportation Authority (CCTA) reported on social media.

Glydways, which released a statement announcing the project Monday, is using the site while the mall property undergoes a larger redevelopment.

“In the interim, Glydways will use a portion of the property to showcase its technology and conduct safety and reliability testing,” the company said.

Glydways has been testing its technology at CCTA’s GoMentum Station in Concord for several years. The company plans to install an ambitious 28-mile Autonomous Transit Network in East Contra Costa County. The new Richmond facility will be strategically positioned near that project, according to Glydways.

The new Richmond development hub will include “over a mile of dedicated test track, enabling Glydways to refine its solutions in a controlled environment while simulating real-world conditions,” the company said.

Visitors to the facility will be able to experience on-demand travel, explore the control center and visit a showroom featuring virtual reality demonstrations of Glydways projects worldwide.

The hub will also house a 13,000-square-foot maintenance and storage facility to service the growing fleet of Glydcars.

“With this new facility [at the former Hilltop Mall property], we’re giving the public a glimpse of the future, where people can experience ultra-quiet, on-demand transit—just like hailing a rideshare, but with the reliability and affordability of public transit,” said Tim Haile, executive director of CCTA.

Janet Galvez, vice president and investment officer at Prologis, owner of the Hilltop Mall property, said her company is “thrilled” to provide space for Glydways and is continuing to work with the city on future redevelopment plans for the broader mall property.

Richmond City Manager Shasa Curl added that Glydways’ presence “will not only help test new transit solutions but also activate the former Mall site while preparation and finalization of the Hilltop Horizon Specific Plan is underway.

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Activism

2024 in Review: 7 Questions for Outgoing Stockton Mayor Kevin Lincoln

Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others. Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9th Congressional District.  

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Stockton Mayor Kevin Lincoln. Photo provided by California Black Media.
Kevin Lincoln, outgoing mayor of Stockton, CA, captured during his tenure as a leader dedicated to the city’s progress and community engagement.

By Edward Henderson
California Black Media

Born in Stockton, Mayor Kevin Lincoln says his Army upbringing inspired him to serve others.

Lincoln joined the United States Marine Corps in 2001 and was later assigned to Marine One, serving during President George W. Bush’s administration.

Following his military service, Lincoln worked for one of the nation’s top private security companies for eight years in Silicon Valley. In 2013, he resigned from his corporate position to give back to his community in Stockton through full-time ministry at a local church.

Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others.

Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9th Congressional District.

Recently, California Black Media (CBM) spoke with Lincoln. He reflected on his accomplishments this year and his goals moving forward.

Responses have been edited for length and clarity.

Looking back at 2024, what stands out to you as your most important achievement and why? 

What I prioritize for our city council is our youth. They are the future — not only our city, but this region as a whole.

We were able to invest over $6 million in youth programming and workforce development, and partner with 14 different community-based organizations. We were able to employ over 600 young people through the city of Stockton. We launched even our first ever summer jobs program for the city of Stockton.

How did your leadership and investments contribute to improving the lives of Black Californians? 

It’s about giving people a seat at the table, and not necessarily waiting for people to come to me, but me going to the community, making myself accessible, meeting our community at the point of their need, where they’re at.

What frustrated you the most over the last year?

It’s politics. Because unfortunately, there’s politics in everything. And I say politics impedes progress. You can have a policy, a solution that may not necessarily be 100% perfect. But it’s a good solution for everybody. But because we allow politics to get in the way based off our personal ideologies, oftentimes we can miss opportunities to make an impact for the benefit of the whole.

What inspired you the most over the last year?

My biggest inspiration has been the community and our ability to work together. What’s unique about Stockton, one in 20 jobs are nonprofit jobs in the city of Stockton and even San Joaquin County.

What is one lesson you learned in 2024 that will inform your decision-making next year?

To stay focused. In politics, there’s a lot of opportunity for distractions. There are a lot of influences from the outside — good, bad and indifferent. It’s important to stay focused, have a clear vision, and be committed to that vision.

In one word, what is the biggest challenge Black Californians face?

Economics. When the economy is not healthy, when we’re not thriving, we’re limited. Opportunities are limited.

What is the goal you want to achieve most in 2025?

I just want to continue to be a servant leader and serve our community in whatever capacity I am in.

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Activism

In addition to his work with the NAACP, Rick Callender is the Chief Executive Officer (CEO) of Valley Water in San Jose. In that role, he oversees an integrated water resources system with functions that include managing the supply of clean, safe water; instituting flood protections; and handling environmental stewardship of waterways for Santa Clara County’s 1.9 million residents. 

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Rick L. Callender, Esq., President of the NAACP CA-Hawaii, addressing attendees at the state convention, October 2024. Photo by Rich Woods.
Rick L. Callender, Esq., President of the NAACP CA-Hawaii, addressing attendees at the state convention, October 2024. Photo by Rich Woods.

By Edward Henderson, California Black Media

Rick L. Callender holds multiple influential roles. He is the President of the California/Hawaii State Conference of the NAACP (Cal-HI NAACP) and serves on the National NAACP Board of Directors.

Under his leadership, Cal-HI NAACP operates 74 branches and youth units across the state to push initiatives focused on racial justice and equality.

In addition to his work with the NAACP, Callender is the Chief Executive Officer (CEO) of  Valley Water in San Jose. In that role, he oversees an integrated water resources system with functions that include managing the supply of clean, safe water; instituting flood protections; and handling environmental stewardship of waterways for Santa Clara County’s 1.9 million residents.

Recently, California Black Media (CBM) interviewed Callender. He reflected on the organization’s accomplishments, challenges they have faced, lessons learned this year, and goals moving forward.

Responses have been edited for length and clarity.

Looking back at 2024, what stands out to you as your most important achievement and why? 

One of the things I’m most proud of is the support of policy changes related to the Ebony Alert, which went into place this year.  That legislation ensured that Black girls and missing Black women would have their own alert. Often, when they go missing you don’t hear about it for weeks later.

How did your leadership and investments contribute to improving the lives of Black Californians? 

It’s not my leadership, it’s the NAACP’s leadership. We’ve helped with legal consultations.  Often, when you have something that occurs to you, some people can’t afford a legal consultation. We’ve cleared that hurdle for folks, so they don’t have to worry about the fee.

What frustrated you the most over the last year?

The pullback of a commitment to our community and the pullback from corporations on financing DEI initiatives, equity and civil rights. People have tried to make DEI sound like a salacious word. When you see these funds disappear, it’s because people erroneously think that they promote racism.

What inspired you the most over the last year?

The resilience and the determination of our youth. The youth have always led — not only the civil rights movement — but they have been the ones who will always be willing to step up.

It’s seeing a new Black leadership step up and being able to continue to fight.

What is one lesson you learned in 2024 that will inform your decision-making next year?

This is one thing: we can’t get distracted. We have to stay focused.

In one word, what is the biggest challenge Black Californians face?

Equity. Put anything in front of the word equity, and that’s what we face, from educational equity, criminal justice equity. Equity as it deals with economics. And just being able to make sure that we have the access to do what we need to do.

What is the goal you want to achieve most in 2025?

Staying focused on organizing around elections – and winning.

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