World News

Allo is a new app that aims to help people create positive habits with their finances through mindfulness on August 1, 2023 at 5:00 pm

Published

1 year ago

August 1, 2023

Allo, a new financial app that can be described as Headspace for personal finance, is aiming to help users meaningfully engage with their finances without becoming overwhelmed with numbers and spending. The idea behind Allo is to help users create a mindful money practice that allows them to approach their earnings, spending, saving, investing and giving with a sense of fulfillment.

Founded in 2021, Allo helps users focus on gratitude and the importance of being aware of not only your numbers, but also your values and priorities when it comes to personal finance.

Allo was founded by Will Choi and Paul Montoy-Wilson, who both previously founded Aviate, an intelligent homescreen startup that was acquired by TechCrunch parent company Yahoo in 2014. With over 15 years of experience in software, the duo wanted to build a company that helps people create positive habits with their finances.

Unlike budgeting apps that only focus on spending categories like bills, insurance and transportation, Allo includes categories like nature, family, giving, working out and healthy eating. Users can choose to have a daily, weekly or monthly check-in with the app in order to become aware of their finances.

Image Credits: Allo

“There are plenty of apps out there that will help optimize your net worth or help you save an extra dollar per month and tell you you overspent on a coffee,” Montoy-Wilson told TechCrunch in an interview. “If there’s a budgeting app out there that works for you, that’s great. We’re not trying to take users from budgeting apps that they love. But, the reality is that those budgeting apps don’t work for most people.”

Montoy-Wilson says budgeting apps can make people feel guilty, which can lead them to avoiding their finances altogether. He believes simply being aware of your finances is an important practice, which is why Allo makes it easier to do so in bite-sized chunks.

To get started with the app, users complete Allo’s introductory course and learn from experts on how to feel more peaceful, confident and grateful when it comes to money. The app will ask you to select a few values that you want to focus on, such as health, being generous, exercise and kids. You can then use the values to tag different transactions during your daily, weekly or monthly check-ins.

Once you have set up a check-in, the app focuses on two things when encouraging you to be aware of your transactions. First, the app will encourage you to look at the things you appreciate. You can reflect on the transactions that made you happy, such as the money you spent on your family or well-being.

Next, the app will encourage you to reflect on the transactions that you don’t feel great about and may want to follow up on. For instance, you may see a transaction for a subscription that you intended on canceling beforehand and make a note to do so. Or, you may come across a transaction where you spent a lot of money going out, and don’t see it as a good use of your earnings. By reflecting on this transaction, you could make a note about wanting to instead spend more money on something you actually care about, like your health.

Image Credits: Allo

After you have finished looking through your transactions, the app will ask you to check in on your values and select which ones you want to focus on for your next batch of transactions. Say you want to focus on health, you can either decide to just pay more attention to your health-related transactions or actually spend more money in that area by doing things like eating healthier or working out more.

“A core principle of Allo is being aware of your numbers, but also being aware of your emotions,” Montoy-Wilson said. “What we’re trying to do with Allo is make it easier through bite-sized chunks to engage with your finances and start changing your relationship with money. And then making it easier to keep that practice going over and over again.”

Once you have completed your check-in, the app won’t surface anything else until your next one. Allo sees this as an “inbox zero” mentality that will help users set down their phone and not have to focus on their finances until their next check-in.

Over the past year, around 500 people across the United States have been testing Allo. The app is now available to download on the iOS App Store and the Google Play Store. The app offers a free 14-day trial and costs $6.99 per month. The company currently does not have any plans to expand beyond the United States.

Allo is self-funded and Montoy-Wilson says the goal to keep it independent. The company currently does not have any plans to raise funding.

Politics

Donald Trump Named TIME’s 2024 Person of the Year

Published

2 weeks ago

December 15, 2024

Bolanle Media Staff

Donald Trump has been selected as TIME magazine’s Person of the Year for 2024, marking his second time receiving this distinction. The former president, who won a historic comeback victory in the 2024 election, was chosen for his significant impact on global affairs and American politics.

TIME editor-in-chief Sam Jacobs explained the decision, citing Trump’s “comeback of historic proportions,” his role in driving “a once-in-a-generation political realignment,” and his reshaping of both the American presidency and the country’s global role. This recognition comes after Trump’s unprecedented achievement of reclaiming the White House after losing reelection four years earlier.

The selection process involved an extensive interview with Trump at Mar-a-Lago in November, covering a wide range of topics including the economy, foreign policy, and his plans for a second term. Notably, TIME took the unprecedented step of publishing a comprehensive fact-check alongside the interview transcript, examining 15 distinct assertions made by Trump.

Trump’s relationship with TIME has been tumultuous over the years. While he expressed honor at receiving the title in 2016, he has also criticized the magazine’s selections and even claimed he refused a potential Person of the Year offer in 2017. Despite this, Trump participated in the process this year, granting TIME access for an in-depth interview.

To commemorate the announcement, Trump rang the opening bell at the New York Stock Exchange (NYSE). This event marked a significant moment in Trump’s career, as it was his first time participating in this Wall Street tradition.

Trump’s selection as Person of the Year reflects his continued influence on American politics and his ability to reshape the political landscape. As the country prepares for his return to the White House, all eyes will be on how Trump’s second term might further impact both domestic and international affairs.

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Film Industry

Jay-Z Denies Allegations Amid Lawsuit

Published

2 weeks ago

December 9, 2024

Bolanle Media Staff

Jay-Z, the renowned rapper and music mogul, faces serious allegations in a recently amended civil lawsuit. According to ABC News and NBC News, the suit accuses him and Sean “Diddy” Combs of raping a 13-year-old girl at an MTV Video Music Awards after-party in 2000.

The lawsuit, initially filed in October 2024, was updated on Sunday to include Jay-Z as a defendant alongside Combs. The plaintiff, identified only as “Jane Doe,” claims she was assaulted after being driven to the party following the awards show.

Jay-Z, whose real name is Shawn Carter, vehemently denies the allegations. He released a statement on X calling the lawsuit a “blackmail attempt” and questioning why it was filed as a civil case rather than a criminal one. The rapper expressed concern about the impact on his family, stating he and his wife Beyoncé would need to discuss the situation with their children.

Combs, who is currently in federal custody on separate charges, has also denied the accusations through his attorneys. The lawsuit alleges that an unidentified female celebrity was present during the incident but did not intervene.

The case has garnered significant media attention, with both artists’ reputations at stake. As the legal process unfolds, the music industry and public await further developments in this high-profile case.

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Business

David Sacks: The New White House AI and Crypto Czar

Published

3 weeks ago

December 6, 2024

Bolanle Media Staff

According to CNBC and NBC News, David Sacks, a prominent venture capitalist and former PayPal executive, has been appointed as the White House AI and Crypto Czar by President-elect Donald Trump. This newly created position underscores the incoming administration’s focus on artificial intelligence and cryptocurrency as critical areas for American competitiveness.

Role and Responsibilities

Sacks will be tasked with several key responsibilities in his new role:

Guiding policy for the administration in AI and cryptocurrency
Establishing a legal and regulatory framework for the cryptocurrency industry
Safeguarding free speech online, and steering away from Big Tech bias and censorship
Leading the Presidential Council of Advisors for Science and Technology

Trump emphasized that Sacks will focus on making America the clear global leader in both AI and cryptocurrency.

Background and Qualifications

David Sacks brings a wealth of experience to his new position:

Former Chief Operating Officer of PayPal
Founder of Yammer, which was sold to Microsoft for $1.2 billion in 2012
Co-founder of Craft Ventures, a venture capital firm
Investor in major tech companies including SpaceX, Palantir, Uber, and Airbnb

Sacks is also known for his close associations with tech entrepreneurs like Elon Musk and Peter Thiel, being part of the “PayPal Mafia“.

Political Involvement

Sacks has been a vocal supporter of Trump during his campaign:

Hosted a fundraiser for Trump at his San Francisco estate, with tickets priced at $50,000 each and a more exclusive $300,000 tier
Delivered a speech at the Republican National Convention in Milwaukee in July 2024
Wrote a detailed essay on X explaining his reasons for supporting Trump

Implications for AI and Crypto Industries

The appointment of Sacks signals a potential shift towards more crypto-friendly policies and regulatory clarity for the digital asset industry. This move, along with Trump’s nomination of crypto advocate Paul Atkins to head the Securities and Exchange Commission, marks a departure from the stricter oversight approach seen under the previous administration.

As the White House AI and Crypto Czar, Sacks is expected to play a crucial role in shaping the future of these rapidly evolving technologies in the United States, potentially influencing their development and adoption on a global scale.