All posts by James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com

Bluesky: A New Decentralized Social Network

Technology, , ,

If you haven’t yet heard about Bluesky, it is a decentralized social media platform that operates on the open-source AT Protocol. Founded as a research initiative by former Twitter CEO Jack Dorsey in 2019, the platform launched publicly in February 2024 and has grown to over 16 million users as of November 2024.

Bluesky offers a familiar social media experience with a 256-character post limit, photo sharing, and standard engagement features including likes, reposts, and replies. Users can access content through two main feeds: a personalized “Discover” feed and a chronological feed of followed accounts. What distinguishes it is its decentralized architecture, allowing users unprecedented control as they are able to transfer their data and social connections across different applications within the network.

The platform’s rapid adoption has been driven by several factors, including user migration from X (formerly Twitter), increased interest during the 2024 U.S. presidential election, and endorsements from influential figures across various sectors. The platform has seen significant user surges, including 800,000 new users on its first day of public access and 2.6 million new users during X’s temporary ban in Brazil in August 2024.

Unlike traditional social networks, Bluesky is pursuing a privacy-focused business model that doesn’t rely heavily on advertising. Instead, Bluesky has secured $8 million in seed funding and generates revenue through services such as custom domain integration.

For businesses, Bluesky represents an emerging opportunity for brand building and audience engagement. While the platform faces challenges in scaling infrastructure and developing moderation tools, its commitment to user privacy and data ownership resonates with increasingly privacy-conscious consumers.

As Bluesky continues to evolve, businesses should monitor its development and consider incorporating it into their social media strategies, particularly as users seek alternatives to conventional social platforms.

The Psychology Behind Black Friday/Cyber Monday Sales

Consumerism, Economy, News

Sales sweep the holiday season, with every year seemingly growing more intense. Why do we get so caught up in the sales at specific times of the year?

There are several psychological phenomena that pull us into the rush of Black Friday and Cyber Monday. Retailers know that “loss aversion” is an intuitive reaction; consumers are more worried about avoiding loss than making gains. Short-term sales trigger a deep need to take advantage of something in order to avoid a loss. Additionally, retailers know that once consumers buy something, they are unlikely to return it or “lose it,” and they play on this by offering trial periods and free returns.

Another psychological factor to consider is the “restraint bias.” This comes into play when, for example, someone looks at details online on Cyber Monday, intending to buy one or two items. However, suddenly all the deals are appealing and too good to lose, and that person buys way more than intended. People overestimate their own willpower and impulse restraint, similar to overeating at a buffet. We don’t want to lose the opportunity to take advantage of a wide variety of what is available.

Finally, the “bandwagon effect” is a key in the lure of Black Friday sales. With the prominence of advertisements splashed across news outlets and social media, we start to perceive everyone else grabbing these good deals and want to join them.

A useful mental tool in approaching sales this time of year is deciding on purchases in advance and buying online instead of in a store. Save the pages of the item you chose, and visit the site on Black Friday or Cyber Monday, and do not buy something else if your desired item is not on sale.

Although Black Friday and Cyber Monday have passed, the holiday sales continue and it’s not too late to set a realistic budget for the remainder of December. Ultimately, the deals this time of year are often too good to be true, making it easy for us to overspend and overindulge. The best way to manage finances is to make decisions ahead of time and not allow ourselves to be swayed by other offerings.

Sustainability in the Textile Industry

Companies, , , , ,

The textile industry is increasingly turning to sustainable materials and innovative production methods to address the environmental challenges posed by fast fashion. As BEXIMCO’s Ahmed Shahryar Rahman said, “we are proud to lead in advanced material technology, and other sustainability practices by integrating cutting-edge sustainable practices into its operations.”

Innovative Sustainable Materials

Many companies are now exploring eco-friendly alternatives to traditional textiles. They are looking for materials that are fast-growing or a renewable resource, plant fibers that can be grown without negative environmental impact from pesticides or synthetic fertilizers, and ways to recycle materials to repurpose waste.

As President of BEXIMCO’s Textiles, Apparel, and PPE divisions, Ahmed Shahryar Rahman has explained that the company has committed to exploring and implementing as many sustainable measures as they can in economic, social, and environmental spheres.  

In their creation of textiles, BEXIMCO is pioneering the use of hemp fiber, recognized for its environmental benefits. Their patented electrical cottonised hemp process enhances the usability of hemp fibers, allowing them to overcome the traditional limitations of hemp’s coarse texture and poor spinnability. Additionally, this innovation offers environmental advantages because hemp requires substantially less water and pesticides compared to other natural fibers and presents a resilient alternative in the context of climate change.

Beyond hemp, BEXIMCO has expanded its sustainable material portfolio by utilizing recycled and biodegradable materials. The company incorporates biodegradable synthetic fibers and recycled polyester made from post-consumer waste like plastic bottles and textile scraps, which directly reduces landfill contributions and resource consumption. Recycled polyester can be further recycled through mechanical or chemical processes at the end of its life, while bio-based polyester uses renewable feedstocks like crops or bio-waste instead of petroleum.

Advanced Production Methods

Sustainability in the fashion industry extends beyond material selection. It requires transparency. Consumers need to trust that materials are sourced where companies say they are sourced, and that the fibers are being produced in ethical and sustainable ways.

The company FibreTrace works with over 60 suppliers of cotton, recycled polyester, viscose, wool, and leather and combines physical tracers with real-time digital monitoring to provide transparency and traceability in the textile industry. They work with companies like Target, Cargill, Reformation, 7 For All Mankind, and many others including BEXIMCO.

For BEXIMCO, FibreTrace provides traceability for their GOTS-certified organic cotton supply chain which is grown with low environmental impact methods that maintain soil fertility and reduce pesticide use and have achieved certification from the Better Cotton Initiative (BCI). All of this ensures that consumers can verify the origins of their products, enhancing trust and accountability. Ahmed Shahryar Rahman has said that the company is searching for other ways to integrate this kind of technology into other aspects of their textile production as well.

By integrating these advanced sustainable practices, BEXIMCO demonstrates how large-scale textile manufacturers can reduce environmental impact while meeting growing consumer demand for ethical fashion. The company’s approach serves as a model for sustainable textile production, balancing technological innovation with environmental responsibility and setting new standards in the industry.

The WNBA Revolution: Unprecedented Growth in 2024 Season

Brands, , , ,

This past season, the WNBA saw unprecedented growth in viewership, attendance, and player endorsements. The league’s regular season viewership soared to an average of 1.19 million viewers across ESPN platforms, marking a staggering 170% increase from the previous year. This surge in popularity was reflected in attendance figures, with the league averaging 9,807 fans per game, up 48% from the 2023 season.

The increased visibility has translated into more lucrative endorsement deals for players. Angel Reese, for instance, recently signed a multi-year contract extension with Reebok, including plans for a signature shoe in 2026. This deal places her among an elite group of only six active WNBA players with signature shoe contracts, compared to over 30 active players in the NBA.

The WNBA also partnered with Kim Kardashian’s brand SKIMS as the “official underwear of the WNBA.” The campaign included basketball legends like Candace Parker and Cameron Brink, as well as DiJonai Carrington, Kelsey Plum, and Skylar Diggins-Smith.  

Despite the league’s growth, player salaries remain a point of contention. The current collective bargaining agreement provides for a rookie minimum salary of $64,154 and a veteran supermax of $241,984. In response to the league’s success, the WNBA Players Association has opted out of the current CBA, aiming to negotiate better compensation and benefits that reflect the sport’s growth. To further underscore its upward trajectory, the league’s expansion plans include increasing the number of regular season games to 44, and adding new teams including the Golden State Valkyries in San Francisco in 2025, and two others coming to Toronto and Portland in 2026. With record-breaking social media engagement and a 413% increase in WNBA social media interactions in addition to the increases in viewership and game attendance, the stage is set for continued growth in the 2025 season.

Disney Parks’ Holiday Transformation Drives Year-End Success

Companies, , , , ,

Every year, Disney’s theme parks undergo a six-week transformation as they transition from Halloween to the winter holiday season. This change, planned over 12 months, begins about two weeks before Halloween with crews working overnight to maintain the parks’ magical atmosphere during operating hours.

The seasonal shift from autumn-themed decorations to holiday adornments has proven to be a significant revenue driver for Disney. The experiences division, which includes parks, cruises, hotels, and consumer products, reported revenue of $9.13 billion for October – December 2023, which was notably higher than other quarters’ earnings of $7-8.3 billion.

Both Walt Disney World and Disneyland Resort offer unique holiday experiences while maintaining their distinct character. Walt Disney World features Mickey’s Very Merry Christmas Party and the new Jollywood Nights, while Disneyland is known for its extensive holiday ride overlays, including “it’s a small world” Holiday. Both destinations showcase sparkling ornamented trees, festive character costumes, limited-time food and beverage options, exclusive merchandise, and special entertainment by mid-November.

Over time, the transformation has evolved to include light shows and projection mappings. The parks have also embraced cultural inclusivity through events like EPCOT’s Festival of the Holidays. Disney’s sustainability efforts have intensified in recent years with energy-efficient lighting and eco-friendly decorations. This combination of tradition and innovation has been successful in encouraging visitors to make annual traditions and repeat visits. Particularly from local parkgoers, the holiday season typically sees increased attendance which helps makes it one of Disney’s most successful periods.