NFTs and Real Housewives. Meme stocks and The Bachelor. Crypto and Kardashians. These are just a sampling of the subjects you’ll be likely to hear on any given episode of CAKE for BREAKFAST, a weekly news podcast hosted by Jessica Devine that covers the worlds of pop culture and finance.
If those topics might seem like strange bedfellows... well, maybe they shouldn’t. As the once-sharp lines between “serious subjects” (i.e. politics, finance, hard news) and “candy” (pop culture, celebrity gossip, reality TV) continue to blur, it makes sense that there’d be a growing audience of people interested in hearing crypto tips at the same time as they catch up on the latest Erika Jayne drama.
CAKE for BREAKFAST, which is owned by Spotify Originals, celebrates the idea that an interest in reality TV is just as valid as an interest in the stock market and that you can be smart and serious while still being obsessed with celebrity gossip.
Prior to launching CAKE for BREAKFAST, Devine worked on Wall Street as a trader for banks like UBS before branching out to the worlds of hedge funds. But, she says, when she first got started in finance, “there was no [media] outlet that spoke to me.” She continues, “I was a fresh grad working in finance who didn’t really know what the stock market was yet. I looked to different shows that could help catch me up to speed but everything was either CNBC [shows] or Entertainment Tonight, no in-between.”
Remembering her own experience, Devine set out to create something to fill that void, something that “was fun but also informative.” Along with going over weekly news, whether that’s the end of Britney’s conservatorship or the current price of Bitcoin, Devine also brings on guests from the worlds of entertainment, social media, and business. She’s interviewed folks like Alli Webb (the founder of Drybar), Perez Hilton, and Lala Kent (Vanderpump Rules).
CAKE for BREAKFAST’s audience is primarily young women between 28-34 (84% of listeners identify as female and 78% are under 35) and one of Devine’s hopes for the show is that it will encourage more women to get into the financial conversation, in whatever way makes sense for them—whether that’s investing in stocks, buying some bitcoin, learning about NFTs or following the financial news. According to a recent Gallup survey, 60% of American men own stock compared to 53% of American women. But that disparity is quickly changing. A recent study by financial services corporation Fidelity found that more and more women, especially Millennials, are starting to invest, and many have been inspired to do so by the economic turbulence during the pandemic. Further, the study found that women “outperformed their male counterparts by 40 basis points or 0.4%” when it came to their returns on investment.
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As Devine wants to make clear on CAKE for BREAKFAST, “you don't need a finance degree, a Patagonia vest or a lot of money to start investing in the market. I think a lot of people hear the words ‘stock market’ and freeze up or dismiss it by saying, ‘Oh I don’t know how to invest’ or ‘my husband does that for us.’ Well, it’s not as overwhelming as you think! I’ve helped a lot of people simply set up a Robinhood or Fidelity account to start trading. It takes less steps then setting up a Venmo account. You can also trade with as little as $1 if you just want to play around before putting real money in.”
Ultimately, Devine wants to make finance more inclusive and accessible to all, whether that inspires you to buy stocks or just be able to join in a dinner party conversation about NFTs. “The idea of the show isn't to lecture or teach on finance, it's a place to be on top of the latest news so you can be well informed ahead of your next date, meeting or social gathering,” Devine says. She adds, “In this day and age if you can't speak on a basic level about crypto you're putting yourself at a disadvantage.”
You can listen to CAKE for BREAKFAST HERE.