#35 Record Shopify Black Friday Sales
Edition #35
Buenos días (Beau-nos di-aas) or good morning as they say in Spanish. Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 🤯).
About BNFK
Knowledge is at the heart of being. To be more, we must know more.
With this weekly we distill the latest, most interesting, Business News 📰 .. to an emoji filled, ultra informative, Newsletter for Kids. A dad 👽 & son 👾 experiment, delivered every Sunday.
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Busy business this week 💼
Shopify merchants sold goods worth $2.9 billion on Black Friday i.e. in one single day.. including sales all the way from New Zealand to California 🤯. Sales growth was a modest 21% higher over last year though.
The UK 🇬🇧 too seems to be on track to break Black Friday records, projections coming in that the weekend will see sales of £9.2 billion (2.9<>9.2 🤷) 🚀; also expected to be higher by 20%+.
While France 🇫🇷 ordered removal of e-commerce marketplace wish.com from app stores & search engines days before Black Friday citing ease of selling counterfeit goods 😬. Not good news for a $2.5 billion revenue company.
And Italy 🇮🇹 imposed a $230 million fine on Amazon & Apple for creating uncompetitive terms by blocking sellers from reselling Apple’s Beats 🎧 music products.
India 🇮🇳 on the other hand is set to introduce a Cryptocurrency Bill in Parliament thats likely to bring in strict regulations on issuing & advertising them. Some suggest “India is seeking to ban most private cryptocurrencies” 😱.
Wait, what is..
Sales Growth: Well, growth in Sales measured over a period of time 😝. Typically companies measure sales growth month-over-month (Nov 2021 vs. Dec 2021), quarter-over-quarter (Q1 2020 vs. Q1 2021), and year-over-year (2020 vs 2021).
Bill: or Parliamentary Bills are a document that propose changes and rules, and one that elected leaders use to discuss and finalise into law ⚖️.
IoT (useful later): Internet of Things i.e. products connected to the internet e.g. light bulbs controlled with your voice.
Woah 😱 Weird 🥴?
Students at the Art Centre of Design in California imagined what Lincoln.. (not the President.. but the cars) would look like in 2040 😱. Check them out. 👇
Inspiring business people to know 🙏
Meet Sanjit Biswas & John Bicket, our inspiring business person(s) of the week.
Biswas and Bicket are founders of 5x🦄 co Samsara. They met while studying at the Massachusetts Institute of Technology (MIT) and working on the Wifi based Roofnet project. They previously founded Meraki a startup that created Wireless solutions for large enterprises and was acquired by Cicso in 2012 for $1.2 billion 🚀. Now thats what we call serial entrepreneurs 🙇.
Stocks, stonks and.. ⚡️
IPO bound IoT Analytics company Samsara posted a 74% jump in revenue to hit $302 million for first 9 months of 2021. Last valued at $5.4 billion, we can only guess what the valuation post IPO will be like. 🚀
While Chinese AI startup SenseTime, backed by Alibaba & Softbank, that has already raised $5.2 billion (not their valuation, but what they have raised😅) is also set to IPO having received approval to list in Hong Kong.
Valued, IPO, Raised more 👉 Wait What Glossary 👈
Mental models.. whaaaat! 🤯
My dad insisted we put this section in here, even though I protested saying its going to be a while before kids need to apply mental models. Mental models are nothing but ways of thinking, you can use as a framework, to take decisions or solve problems. Who knows, they might just be useful!
Bayes' Theorem 🤯: Named after English statistician Thomas Bayes, Bayes' Theorem "describes the probability of an event, based on prior knowledge of conditions that might be related to the event".
Because we can use data of how things turned out previously.. given 'similar' set of conditions, we can predict the future 😱.. or more accurately, predict expected behaviour of future events.
For e.g. In the first Covid-19 wave, data showed that people over the age of 50 were more vulnerable. And because conditions remained the same with the 2nd and 3rd waves, the same result could be expected - and so, governments made rules to first inject older populations with the vaccines. ✅Tech, products, toys ++ 🤖
If only this was available on a Black Friday sales 🔫💦🔫! A $174 watergun that can shoot out water spurts 30 feet away 😅 and ‘recharge’ in 12 seconds 🤯.
Pro Tip: The magic of learning is in curiosity. Don’t shy away from clicking those hyperlinked texts to read and learn more. We mostly hyperlink to text we have read ourselves to make sure it is safe, but please be aware that comments and ads shown on these pages are beyond our control. We recommend using a kids friendly browser to view the links. Please read all Disclaimers.
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