Why I Am Doing This: To help a community of DJs, Entrepreneurs, Influencers, Music Lovers, and Investors build generational wealth
99% of self-made millionaires come from five categories: •Self-owned businesses (Entrepreneurs) 74% •Senior Executives in companies 10% •Doctors, Lawyers and other Professionals 10% •Salespeople and other Consultants 5% •Inheritance 1%
The Tech Industry is responsible for creating millions of millionaires globally and of the 11 million millionaires in the US, only 8% of them are African American while Caucasians make up over 76% of millionaires in this country.
"Do not be overcome by evil, but overcome evil with good."
- Romans 12:21 (NKJV)
Racism plays an insidious role in the daily lives of all working people of color. The recent killings of George Floyd, Breonna Taylor, Ahmaud Arbery, and countless other of our black and brown sisters and brothers are tragedies that will plague the black community for years to come, sparking current violent protests within almost every major city in the country.
Hundreds of Thousands of African Americans have died amid the COVID-19 pandemic with over 25% of COVID related deaths coming from Blacks - although we only make up less than 13% of the population.
These catastrophes coupled with centuries of systemic racism and discrimination has placed people of color in a position where it is now more important than ever for us to unite and create light out of the darkness we are currently living in.
In these trying times we often look towards entertainment as an outlet to escape from the madness. We flock to social media platforms such as Instagram, Facebook, Snapchat, and TikTok, among many others.
THESE PLATFORMS HAVE NOT DONE ENOUGH TO SUPPORT THE BLACK COMMUNITY - ESPECIALLY DURING THE CURRENT STATE OF THE COUNTRY.
While these companies are making billions of dollars off the back of Black Culture, Millions of Black Americans have lost their jobs and are likely to remain unemployed significantly longer than our White counterparts.
Danyelle Solomon, vice-president of the race and ethnicity program at the Center for American Progress discussed how "wealth allows you to respond to that unexpected health emergency, that broken hole in the tire you have to replace. It also allows you to buy a home, put your kids through school.”
Having less wealth has dire health consequences. Experts agree that being poor has costly effects on a person’s health: for adults living in extreme poverty, being poor can cost up to 15 years of life expectancy.
We need to control our own WEALTH. We need to control our own HEALTH. We need to control our own TECHNOLOGY.
The median net worth of black families is $17,600, compared with $171,000 for white families. A white family is likely to have $10 for every $1 a black family has. The percentage of black families that have a net worth at or below zero dollars is 10 points higher than the percentage of white families in the same financial situation – 19% compared with 9%, respectively.
LET'S CHANGE THIS NARRATIVE
Dear Black America, For those that don't know me, my name is Darrel Frater and I am the Founder and CEO of TheClub™.
As a Christian Entrepreneur, Startup Founder, Venture Capitalist, current MBA Candidate at The College of New Jersey, member of Kappa Alpha Psi Fraternity Inc. and Black/Jamaican/American Man, I would like to begin by saying:
I AM SORRY...
I am sorry that I have let fear and doubt of my abilities hold me back from taking the necessary risks it takes to build something that can greatly benefit our community.
2020: That stops NOW.
"There is a time for everything, and a season for every activity under the heavens”
- Ecclesiates 3:1 (NIV)
I believe that I have been called to play a major role in closing the racial wealth gap in this country. While I am not sure exactly what that looks likes, what I am certain of is that through leveraging my skills in leadership, entrepreneurship, and investing I can help as many people as possible in this effort through disruptive technology.
Live streaming is going to be a $70.5 billion industry by 2021 and it’s rapidly growing with no signs of slowing down.
The Bars & Nightclubs industry is valued over $27 billion today in the US alone and is in complete SHAMBLES because of the COVID-19 pandemic..
TheClub™ is a platform that aims to deliver the best Live DJ and Virtual Party experience from your phone to your home, fueled by the world's top and up-and-coming DJs.
"We believe that every home will be streaming live content from streamers to their TVs by 2030."
- Darrel Frater, CEO
Live streamers overseas have generated on average over $2,000 a month since 2018 just by streaming an hour a day from their phones.
Question: How much money did you earn from your social media this month?
If you're like most people and are not a major influencer with millions of followers, like me - that answer is $0.
We have identified the unique opportunity that DJs can have in the live streaming space to far exceed what regular streamers are making overseas. On TheClub™ we project that the average DJ will make upward to $10,000 a month on our platform once we reach scale.
On top of that, we are designing the app in a way that allows DJs to earn while you are out getting paid DJing in person, the traditional way (once Rona is gone of course). While setting up at your next event, just simply sign on to the app and stream yourself live so you can make money from your fans "at the club" and from the millions of clubers in TheClub™!
If you are not a DJ and have an entrepreneurial spirit, you can make money too by becoming a manager. Managers work behind the scenes in our app. They are the brains behind the operations. They have the opportunity to recruit and schedule DJs to play on their channel as well as playing an admin role during the live streams to make sure all of the clubers in the stream are having a great time and supporting your stream through our in app tipping feature.
Not a DJ, nor are you interested in playing a management role? We will have opportunities for our clubers and influencers to earn through partnering with DJs & Managers as well as weekly and monthly giveaways.
Once we succeed with DJs, we can successfully expand to other industries.
TheClub™ is the future of work-from-home income.
Not only will you earn monthly from the platform, as an early member of the TheCommunity, you will have exclusive access to becoming an owner of TheClub™.
THIS IS A HUGE WEALTH BUILDING OPPORTUNITY
If you were an early shareholder of Snapchat and sold your shares when the company got listed on the stock market (IPO or Initial Public Offering) in 2017, you would probably be a multi-millionaire right now. Just ask Jeremy Liew, who was an early shareholder in Snapchat that become a multi-billionaire at their IPO. (Yeah you read that right, multi-Billionaire. with a B.)
Here's how we're going to do the same thing:
I'm going to raise a small round of funding from my Angel/VC network. This money will go towards finishing the first version of the app.
We (TheCommunity) are going to raise a round of funding using an equity crowdfunding platform such as Republic or StartEngine. This money will go towards further app development and expanding the TheClub™ team.
We (TheCommunity) are going to raise a 2nd larger round of funding but also include the general public (people not apart of the TheCommunity). This money will go towards scaling our user-base and increasing revenues.
Lastly, we will list the company on the stock market (Most likely the Nasdaq) using an SPAC (Special Purpose Acquisition Company) to perform what we call a reverse merger IPO. This is where you can "Cash Out" your shares or hold them even longer as TheClub™ grows as a public company.
If any of this stuff sounds confusing - don't worry about it. I will guide everyone along this journey with instructions and updates throughout the whole process.
If this sounds appealing to you then GREAT! I'm excited that you are ready to join us on this journey.
So what now?
As of right now, the app is currently in development. I plan to have the app ready for initial launch in the fall of 2020.
What I need YOU to do is share this opportunity exclusively with DJs, Entrepreneurs, Influencers, and Music Lovers that would be interested in achieving our goal of building a community of individuals truly seeking to build generational wealth.
NOTE: We are NOT looking for individuals that are just here to make a quick buck. We are building a community of Black and Brown professionals that are down with the culture.
We will sit at the intersection between Culture, Music, and Technology.
It is time for us to build TheCommunity!
Here’s what you need to do:
Sign up to be a member of TheCommunity Share this opportunity exclusively with DJs, Entrepreneurs, Influencers, and Music Lovers that you know personally (This is very important). Quality over Quantity. Be active in TheCommunity - Chat with other members (TheChat), discuss topics (TheForum), stay up-to-date on TheClub™ news (via email and TheBlog) Support TheClub™ by rocking merch from TheShop Follow these steps and we will be on our way to building a thriving community of wealth builders.
Let's show the world what a community of thousands of black, brown, and allied professionals can do!
See you in TheClub™!
Best, Darrel Frater Founder & CEO TheClub™