This Is How the AI Bull Market Ends

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Behind the nonprofit helping a diverse new generation of culinary professionals heat up New York

JAMES POLLARD
September 05, 2024

NEW YORK (AP) -- A side of beef bigger than a classroom desktop sat before high school students huddled around a kitchen on New York's Lower East Side. "Anyone wanna jump in?" asked the butcher teaching the Tuesday afternoon class. One student dared, grabbing a sawblade about as long as his arm and sweating to successfully separate the short rib from the rib eye.

These demos are regularly hosted by the Food Education Fund. The local nonprofit seeks to make culinary careers more accessible through hands-on experiences and mentorship for low-income students of color at ten high schools. More than half of participants are Hispanic, over one third are Black and the vast majority live below the poverty line.

The hope is that stronger support for young cooks in one of the world's top food destinations will bring much-needed diversity to the industry's highest rungs. Chefs of color lead just a fraction of the North American restaurants awarded a coveted Michelin star and research shows non-white fine dining employees are less likely to be promoted, according to the tire company behind the guidebook that has become a gastronomical bible of sorts.

As restaurants rebound from pandemic stressors that sent many burnt-out staff looking for new careers and upended customer behavior around in-person dining, the nonprofit wants to instill a new generation with the love of feeding others. Hospitality magnate Sean Feeney said he's found that New York's youth still want to rebuild that culture.

"They never had tasted an ingredient that made their mouth move," said Feeney, a board member whose company owns Lilia and Misi, two highly praised Italian restaurants in Brooklyn. "They never had witnessed an experience of dining that changed their lives. And many of the students hadn't been supported in a way that it made sense for them to want to make days better for others."

The Food Education Fund's workforce development programs reached more than 800 public high school students during the 2023-2024 school calendar. Leadership plans to increase the number of seniors and schools participating in its internship course in this upcoming school year.

Lessons by "visiting chefs" ranging from chocolatiers to farmers exposed participants to the wide range of culinary arts careers. Participants can get up to 150 hours of experience at internships -- including School Grounds, a Barclays Center food stand where students run marketing and are developing a signature hot sauce. The nonprofit also doled out over $82,000 in scholarships to graduates over the past two years, according to publicly available tax filings.

Observers note that Food Education Fund has really formalized its operations in recent years. Tax forms show that annual contributions more than quadrupled from 2018 to 2022.

And in New York City, where bankers, entertainers and chefs alike have cut their teeth in their respective dog-eat-dog fields, the organization's mission has recently attracted attention from the deep-pocketed financial services giants and stars in its backyard.

Big backers include investment firm Goldman Sachs and Steve Cohen, the billionaire hedge fund manager who owns the New York Mets. The board includes hip-hop icon Questlove and comedian Desus Nice has hosted a fundraiser.

The broad interest reflects the diversity of New York and the community building power of food, according to board member Jehan Ilahi, the global head of investor relations at Goldman Sachs.

"Food binds us all. Culturally, as people, you sit with somebody, you have a good meal and it exposes your mind to different cultures and experiences," he said. "That's what I think is really special about the city. A lot of the kids that live here, study here, want to be part of that ecosystem."

Anthony Trabasas wanted to work in the world's best restaurants when his family moved from the Philippines five years ago. Through Food Education Fund internships, he was able to cook under a James Beard award-winning pasta chef. The opportunities instilled a sense of professionalism that he credits for his early success in high-caliber kitchens.

Trabasas, 21, is now a "floating" chef in a lower Manhattan kitchen he described as "not like any other:" the Michelin-starred, farm-to-table restaurant One White Street. He spends his shifts running up and down the stairs of the four-story townhouse, filling in gaps, whether it's searing fish or flipping a dozen burgers.

He dreams of opening his own place one day, but he's still figuring out what kind. What he does know is that he wants to create a more positive culinary industry with sustainable work environments.

And the Food Education Fund, he said, is "probably one of the most important drivers" of that objective.

"If you have happy people within the organization, you just make better food," Trabasas said.

It's a far cry from the cutthroat culture that Ayesha Nurdjaja came up through. Mentoring did not exist, she said, and reality shows glamorized the grueling hours.

For that reason, she said, she keeps in touch with all three Food Education Fund students who have interned at her Middle Eastern restaurant on the West Side. She said she doesn't do it "as a charity thing." She instead hopes to act "like a small chef on their shoulder," helping them understand the business and get a leg up in a difficult industry.

"Although we're giving to the students, it's really them giving to us because you get to see the hunger in their eyes," she said. "They're actually starting from fresh. And I think it gives us a restart to say, 'Let me be as honest as I can.'"

The same part of town where Nurdjaja's Shukette serves up labneh and baba ganoush has recently filled up with expensive real estate. The neighborhoods now house major tech companies and investment firms including Google and BlackRock.

Coming out of the pandemic, the West Side Community Fund formed to guide these global giants' philanthropy toward their underserved neighbors. Drawn to the Food Education Fund's job training for young students of color, the consortium's grants have supported the nonprofit's internships and a food-focused magazine.

"There's a lot of buildings and businesses popping up around here," said Jalen Lisbon, a member of WSCF's grant administration team. "But we do want to make sure the longtime residents who don't have all of those resources are not swept under the rug."

It's all part of a continuum, according to Kathy Wylde -- the president of the Partnership for New York City, a nonprofit membership organization founded by David Rockefeller that mobilizes top business leaders to support development projects.

Wylde said the city has a culture of corporate philanthropy dating back to the late 19th century Gilded Age -- a period marked by rapid industrialization, wealth inequality and political corruption when monopolies generated billions for families like the Rockefellers.

"There's no place that has the level of corporate engagement that New York City has," Wylde said. "It's in their interest, and their business interest, to keep the city strong."

___

Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Continue Reading...

Popular

Harris, Trump Films To Hit Theaters Weeks Before 2024 Election: One Candidate Tried To Block Movie From Release

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

America's Slow Decline into Hell - Ad

As Kamala Harris rises to power, her 3-word agenda threatens every American's freedom and financial security. Get the inside scoop and

Trump Vs Harris: Who Do Russia, Iran And China Favor In 2024 Election? Intelligence Officials Weigh In

U.S. intelligence officials believe that Russia, Iran and China have preferred candidates in this year's U.S. presidential election. Each of these foreign powers has different views on who would best serve their interests.

Top 2 Energy Stocks That Are Ticking Portfolio Bombs

Two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The Most Powerful Market Strategy You've NEVER Heard Of? - Ad

He's got a higher win rate than Warren Buffett, Carl Icahn, and Mark Cuban...but you've likely never heard his name. What's most amazing is that his unshakable strategy is working just as well today as it did during our long bull market. Even the Covid crash didn't shake it! He's been on a wild 6-year win streak (with no signs of slowing down) How does he do it?

Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: 'Even Her Tweets Are Not Her Own'

Recent comments by prominent figures have sparked debate over Vice President Kamala Harris's social media activity and public engagement. Bill Ackman, CEO of Pershing Square Capital Management, raised questions about Harris's involvement in her own X posts during the recent Republican primary debate.

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

E. Jean Carroll's case sees an appeals court skeptical of Donald Trump's bid to overturn a $5 million verdict for sexual abuse and defamation.

Nvidia Set To Reach $10 Trillion Valuation As Blackwell Expected To Propel Chip Maker With 'Fireworks Again' In 2025, Analyst Predicts

NVIDIA Corp is projected to surge to a $10 trillion valuation, according to Beth Kindig, lead tech analyst at I/O Fund. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell.

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double - Ad

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

Will Nvidia Continue To Deliver? Investors Sweat Over Hyped-up Expectations And Potential Blackwell Delay Ahead Of Q2 Report

Chipmaker and artificial intelligence stalwart Nvidia Corp. is all set to announce its quarterly results Wednesday after the market close. Analysts are upbeat about the company scaling lofty goals and reigniting the market momentum, which has toned down a bit in recent sessions.

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Donald Trump's Billions On Hold As Insiders Sell Off Truth Social Shares

Insiders at Trump Media & Technology Group owned social media platform Truth Social have started offloading their shares.

Three Warning Signals From The Economy Going Into 2025

Labor, inflation and Buffett: Cracks in the system have been appearing in recent months.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Ford joins growing list of companies changing diversity policies after conservative pressure

DEARBORN, Mich. (AP) — Ford Motor Co. has joined the ranks of companies that have pulled back on diversity, equity and inclusion policies while facing pressure from conservative groups.

Trump Misunderstands Taiwan's Role In Chip Industry, Says Economy Minister: 'The President Has A Lot On His Plate'

Trump had earlier suggested that Taiwan should compensate the U.S. for defense, accusing the island nation of taking American semiconductor business.

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

What Bears And Bulls Think On Nvidia Is Irrelevant, Says Gene Munster Because 'AI Will Be Bigger Than The Internet'

Gene Munster, managing partner at Deepwater Asset Management, shared insights on NVIDIA Corp. earnings and artificial intelligence potential on X. "The bears will say $NVDA earnings were good but not great," he wrote on Wednesday.

Revealing Index Soars 49% - Smart Investors Are Moving In - Ad

The Gold Miners' Index is up 49% in recent months, surpassing even Gold's performance. Yet, ONE stand-out miner has even doubled Gold's historic rally over the last 6 months with room to run as analysts expect it to double from here! Don't miss the young company that has already captured the interest of 40+ investment banks.

Apple Reportedly Plans To Switch To OLED For All iPhones Starting 2025, Not Just The Top-Tier Flagships

Apple plans to transition all iPhone models, including the lower-priced iPhone SE, to OLED displays by 2025, phasing out LCDs and excluding Japanese suppliers like Japan Display and Sharp from its handset business.

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Kentucky's Massive Cannabis Licensing Response: 5,000 Applications Filed Before Deadline

Nearly 5,000 medical cannabis license applications were filed in Kentucky by the August deadline, showing immense interest.

Stakeholder in Trump's Truth Social parent company wins court ruling over share transfer

DOVER, Del. (AP) — A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump’s .

This Win Rate Puts Buffett to Shame - Ad

He's got a higher win rate than Warren Buffett, Carl Icahn, and Mark Cuban...but you've likely never heard his name. What's most amazing is that his unshakable strategy is working just as well today as it did during our long bull market. Even the Covid crash didn't shake it! He's been on a wild 6-year win streak ( with no signs of slowing down) How does he do it?

DHL sues MyPillow, alleging company founded by Mike Lindell owes $800,000

MINNEAPOLIS (AP) — Package is suing MyPillow, alleging the company synonymous with its founder, chief pitchman and election denier Mike Lindell owes nearly $800,000 for unpaid bills.

Swifties Rally For Kamala Harris: Taylor Swift Superfan Organizes Online Push For Democratic Ticket

Taylor Swift fan Irene Kim leads a massive Swifties for Kamala campaign, leveraging social media and fundraising to boost Harris's presidential bid.

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Japan Leads Asia Markets Decline, Europe Slides; Crude Oil Falls below $70 - Global Markets Today While US Slept

US stocks close lower on weak manufacturing data and Fed rate cut uncertainty. Asian markets follow with major declines. Commodities and futures down.

Trump Vs. Harris: 2024 Election Betting Odds Show 'Love Story' For Vice President After Debate, Taylor Swift Endorsement

The presidential debate between Vice President Kamala Harris and Ex-President Donald Trump shifted the betting odds for the winner on Election Day. Here’s a look at who has the edge and how the markets have shifted in recent months.

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Nvidia, TSMC Lead Chip Stocks Lower In Premarket: What's Going On

Chip stocks are moving notably lower in premarket trading, and this could potentially serve as a drag for the broader market Tuesday.

Brazil Supreme Court panel unanimously upholds judge's decision to block X nationwide

RIO DE JANEIRO (AP) — A Brazilian Supreme Court panel on Monday unanimously upheld the decision of one of its justices to nationwide, according to the court’s website.

The Only Thing a New President Won't Do - Ad

One thing's for sure: A new president is probably NOT going to make you wealthy. If you want to build wealth and secure your financial future, that's something only you can control. And I've uncovered a simple strategy that can help anyone grow their wealth ahead of the 2024 elections.

Harris campaign releases new ad to highlight plans to build 3 million homes, reduce inflation

WASHINGTON (AP) — Vice President has a new advertising push to draw attention to her plan to build 3 million new homes over four years, a move designed to contain that also draws a sharp contrast to Republican .

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service