#36 The $1 Trillion Metaverse is Coming
Edition #36
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? 🤯).
Busy business this week 💼
In a surprise move, Twitter CEO Jack Dorsey announced his resignation. This is the 2nd time he quit as CEO 🤷.. the first time he was asked to leave by the board in 2008 and then asked to re-join in 2015🤷🤷. Founders rock. Twitter stock shot up 10% on the expected news, but ended 10% down when he actually did so. He is replaced by Parag Agrawal, the company’s chief technology officer.
Dorsey's second company (remember he was CEO of two giant co's), $83.6 billion Square 🔲, renamed itself to Block.. if Mark wanted to stress on Metaverse with Meta, Jack wants to focus on the Blockchain with Block 🤷.
Research firm Grayscale says the metaverse is a $1 trillion opportunity 🤯. In a report titled “The Metaverse, Web 3.0 Virtual Cloud Economies,” Grayscale predicts that the revenue from gaming virtual worlds could grow up to $400 billion 🚀 in 2025 with application like Decentraland, Roblox and more.
While Meta’s metaverse moves hit a tiny roadblock with UK competition regulator blocking its acquisition of gif maker and marketplace Giphy, which was bought for $315 million by Meta last year.
And Gameverse 🎮 is making its own moves.. 5 out of the top 10 YouTube 📺creators were gamers 😎 with predictions stating India’s game streaming revenue could touch $300-$400 million by 2023. Get streaming.
Wait, what is..
Blockchain: in the most simplistic sense think of it as a “block” + a “chain” 🤣 - but seriously.. its literally a block of information, stored in a chain, with a record maintained of any and every change made to that original block.. that is added back to the chain. Think of it also as a distributed ledger of truth. It has immense applications some of which we will get into another day. Geek out here.
Pixel (useful later): like an atom, but for the digital world. In any image, visual or screen, a pixel is the smallest block.. much like a minecraft block. Phone screen sizes are made up of Pixels too.. for e.g. iPhone 13 has a screen with 2532 pixels (length) x 1170 pixels (width) i.e. 2,962,440 pixels or 457 pixels per inch (PPI).
Woah 😱 Weird 🥴?
Programmable bricks 🥴! Did you ever think that’d happen? Meet Brixels.. you know like pixels, but in brick 🧱 form.. they’re robotic 🤖 by the way 😱. Checkout what happens at 0:44 seconds 👇
Inspiring business people to know 🙏
Meet Parag Agarwal, our inspiring business person of the week.
Parag is the newly appointed CEO of $33 billion social media giant Twitter 🐦. A graduate of the prestigious Indian Institute of Technology (Mumbai) 🧑🔬, he’s grown up the ranks from a developer (coder) to CTO and now CEO. He joins the band of illustrious Indian-origin CEOs of mega technology companies like Google, Microsoft, Adobe, IBM. 🙇♂️
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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Stocks, stonks and.. ⚡️
Niantic, maker of Augmented Reality (AR) game PokemonGo, raised $300 million at a $9 billion valuation 🤯🤯🤯🤯🤯🤯🤯🤯🤯 to build the metaverse of the real world. AR meet MV, everyone happeee. 😅 🚀
India e-commerce behemoth Snapdeal, once valued at $6.5 billion, and in the league of Amazon and Flipkart, is on a comeback path and targeting a 2022 IPO to raise $250 million at a $1.5 billion valuation. 👏
Valuation, IPO 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!
Confirmation Bias ℹ️: Remember Cognitive Bias (link below)? Confirmation Bias is very very similar..
Essentially what it says is that as humans, we have a tendency to look for information that confirms what we already believe in; i.e. we look for information to confirm our bias.
In school or in business it's critical to not fall in this trap. You must infact, look for information to disprove what you believe in 😱. Following this approach will make your own view stronger and way more thought through and factual.Read this & this - Cognitive Bias Edition #8.
Tech, products, toys ++ 🤖
While we keep hearing about the EV efforts of car makers, its rare to hear about motorbikes.. well might just be because they’re all kind of building away in secret 😱👇👇👇
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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