#40 Crash, boom, bang in stocks & crypto town
Crypto loses $200 billion in 24 hours while Stocks have worst week since 2020
And just like that we’ve written 40 editions 🤯. God morgen (Goo-morrn) or Good morning as they say in Norwegian. Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 😅).
Busy business this week 💼
Bitcoin, Ethereum, and almost every other cryptocurrency saw prices crashing and losing a combined total of $200 billion in just 24 hours 😬!! Bitcoin dropped under $35,000 down ~30% in a month; while Ethereum saw a 41% drop to hit a low of $2,301 😱.
Stock markets were not spared either, last week being the most brutal for tech stocks since March 2020, with over a third of NASDAQ stocks down over 50% from their 52 week highs 📉📉📉 and Netflix tanked 22% in one day 😱😱.
But inspite of crypto and stock crashes, Microsoft dashes! Microsoft is acquiring gaming company, Activision - creators of games like Call of Duty and Tony Hawk’s Pro Skater. And they’re paying.. wait for it.. $68.7 billion.. wait for it.. in all cash 🤑!! This is their largest acquisition ever, previous most was LinkedIn for $26.2 billion 🚀
And it’s still fun and games in NFT land.. Twitter has started allowing its Blue subscription users to set NFTs they own, as their profile pictures. Woah. Big moment for NFTs as they finally find some use 🤷😂. Did you know over $10.67 billion worth of NFTs were traded in Q3 2021. Get those Business Babies 🤣.
While things get real in Metaverse land.. ever since Nike ran ahead with its metaverse moves, brands like Gucci, Louis Vuitton, Ralph Lauren and many more are sprinting too 🤣 and that is leading to a whole lot of Metaverse specific job creation. Right from NFT designers and developers to chief metaverse officers 🤯.
Wait, what is..
Cryptocurrencies: A digital form of currency typically not controlled by a central person or government. Usually currencies, be they $ or £ or ₹, are created by the Government of a country; however, Cryptocurrencies can be created by anyone (even governments) but the key here is that a large number of people must accept it as legal tender i.e. as a form of payment.
Stock Market: A place where stocks are bought and sold.💰
Stock: Think of it as a piece of ownership of a company. Geek out here.
NASDAQ: A stock market in the USA where stocks are bought and sold.
52 week highs: The highest price a stock reached in 52 weeks (about a year).
Woah 😱 Weird 🥴?
Want to be rapper Snopp Dogg’s neighbour? In. the. metaverse? All it takes is $450,000 🥴. 👇👇👇
Inspiring business people to know 🙏
Meet Satoshi Nakamoto, our inspiring business person of the week.
Satoshi Nakamoto 🥷 is the creator of Bitcoin. The only trouble? We don’t know who she or he or they are! It’s the pseudonymous name used by the person or persons that created Bitcoin. Inspite of the massive crash Bitcoins have a market cap of over $600 billion 😱🤯🤯, and gave birth to a revolutionary technology called the Blockchain 🧱. Ask mom, dad, or a big person more about it. Bitcoin may never become legally accepted world over but the Blockchain technology behind it may have several uses. Hence our inspiration.
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.. ⚡️
One click checkout company Bolt (not to be confused with the scooter co) raised a mammoth $355 million as part of their Series E becoming at Decacorn (Unicorn x 10 🤷) with an $11 billion valuation 💵
While Indian startup Boat might be on the path to become India’s first D2C (Direct to Consumer) electronics maker to IPO, aiming to raise Rs.2000 crore / ~$250 million.
Series E, 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!
The HODL Mental Model - Hold On for Dear Life 🤣. This might just be more applicable to mom or dad if they're invested in the stock markets, but you could learn some lessons too 🙂.
Many times life may throw a curve ball that seems almost impossible to dogdge. But so long as we've not taken a gamble and made the right choices, based on the right factors (and some intelligent mental models like here 😅), we can simply HOLD ON, and KEEP CALM. Let the storm pass and live on. 🚀Tech, products, toys ++ 🤖
At long last, the Galaxy Z Fold 3 has competition. The new Oppo Find N is broader and boxier, but sadly only available in China at about $1200. 👇
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.
Thank you so much for reading - 👾 & 👽 - Pls hit share to make someone’s day. 🚀