Meet the VC going after the $2.5 trillion market most investors are ignoring:
From a LinkedIn Pulse interview with Monique Woodard, a partner at 500 Startups: "If you look at the way the U.S. is taking shape, you can see that people of color will be the majority by 2044. There is $2.5 trillion combined spending power between Black and Latino consumers. Black and Latino millennials will be the top of the heap in population size. You also have a population that is going to be skewed younger. The median age of a White person is 42 and the median age of a Black person is 33 and a Latino/a person is 27. This is important because of how much more active spending time as a consumer Black and Latino/a people will have compared to the majority. This is a group that has never really been spoken to before. There is a lot of blue sky there for entrepreneurs to take on these interesting consumer groups and make products that are really scalable."
Black and Latino consumers over index on consumption of spiritual and inspirational content and they also over index in consumption of video.