Darrell Spencer, a 29-year-old black business owner from Chicago, secured a $500,000 investment on Shark Tank this week for his men’s grooming brand, Crowned Skin. The brand has already generated more than $30 million in lifetime revenue, built around a product line that includes body butters and oil colognes made from natural ingredients including shea butter and jojoba oil.
Spencer entered the tank seeking $500,000 for 5% equity. He left with a deal structured at 10% equity plus a $1 royalty per unit until $1 million is recouped, struck with investor Rashaun Williams, a fellow Chicagoan who saw the potential in both the brand and the man behind it. The deal reflected the kind of community-rooted investment that can make a measurable difference for Black-owned consumer brands trying to scale.
Chicago’s new AI school raises serious equity questions
Chicago is preparing to open its first AI-driven school this fall. Alpha Schools will operate without traditional teachers, using AI software to deliver instruction in core subjects while adult guides run workshops alongside the technology. Supporters point to data suggesting students at similar schools outperform peers on standardized tests.
The school comes with a $55,000 annual tuition, which puts it out of reach for the overwhelming majority of Chicago families. The city has more than 600 public schools operating without adequate funding, and the arrival of a high-cost, tech-forward private option does nothing to address that gap. The conversation around Alpha Schools is less about what it offers those who can afford it and more about what it signals for those who cannot.
Federal jury rules Ticketmaster has been operating as a monopoly
A federal jury delivered a landmark ruling this week, finding that Live Nation and its subsidiary Ticketmaster control 86% of the ticketing market at major venues and have been functioning as a monopoly in the live entertainment industry. The decision confirmed what concertgoers have argued for years, that prices have been artificially inflated by a company facing no meaningful competition.
Ticketmaster plans to appeal, which means the practical impact of the ruling remains uncertain. Whether the decision translates into real structural change in how tickets are priced and distributed is the question that follows every antitrust ruling of this kind, and this one is no different.
Uncle Nearest is 30 days from potential shutdown
Uncle Nearest, the whiskey brand built around the legacy of Nearest Green, the man credited with teaching Jack Daniel his distilling craft, is facing a potential shutdown. A court-appointed receiver disclosed this week that the company could close within 30 days without a significant infusion of outside capital.
The brand has already received $3.8 million from Farm Credit Mid-America to sustain operations, but it carries more than $108 million in loans and has been dealing with disorganized financial records that have complicated any path forward. Losing Uncle Nearest would represent more than a business failure. It would erase one of the most visible symbols of Black contributions to American spirits history at a moment when Black-owned brands are still fighting for shelf space and mainstream recognition.
Whoopi Goldberg launches WhoopInk publishing imprint
Whoopi Goldberg announced the launch of WhoopInk, her own publishing imprint through Blackstone, aimed at discovering new writers and giving established authors a fresh platform. Goldberg brings her own experience as a published author to the role, positioning the imprint as one with a genuine understanding of the creative process rather than simply a celebrity-branded label.
The focus on diverse and underrepresented voices gives WhoopInk a clear purpose beyond the announcement itself. Whether it delivers on that purpose will depend on the writers it signs and the stories it chooses to champion, but the infrastructure is now in place for it to matter.
