#42 Meta drops $200+ billion in 1 day
While Amazon adds $190 billion.. in 1 day
Bore da (bor-eh-dah) or good morning as they say in Welsh. Welcome to another edition of Business News for Kids (BNFK for short; genius isn’t it? 😅).
Busy business this week 💼
Facebook owner Meta’s stock dropped $232 billion in value in just 1 day💥! It’s the biggest single day market cap loss ANY company has ever experienced📉. The previous record was held by Apple🍎, with a $182 billion loss in September 2020. 😱
While Amazon hopped to the largest market cap gain of one day 😅. Its shares rose by 14%, adding $191.3 billion to their market cap to hit a mammoth $1.69 trillion. The old record of largest gain in a single day was held by.. wait for it.. Apple 🤣, with a $181 billion gain on 28 January 2022.
And Snap Inc. popped, going up 62% 😱 as the owner of social media app Snapchat saw its first ever quarterly profit of $23 million, growing $136 million over previous year. Revenue increased 42% to $1.3 billion and daily active users (DAUs) grew 20% to 319 million. Geek out on their earnings report here.
With companies zooming away, countries aren’t ones to be left behind.. following the USA’s 🇺🇸 record growth since 1984, its now France’s 🇫🇷 turn to record its fastest growth in 52 years, with a 7% growth in GDP. 🚀
The UAE 🇦🇪 however, is set for growth of a different kind.. introducing for the first time ever a 9% Corporation Tax 💰 for companies making profits more than $102,000. Several countries in the Middle East do not apply taxes on citizens or companies, so this is an interesting first. 📈
Wait, what is..
Market Capitalisation: Or simply said market cap is the total value or worth of the shares of a company. Say a company has 10,000 shares and each share is worth $100 today, then it’s market cap is 10,000 x $100 = $1,000,000 (a cool one million $$s).
Earnings Report: A report typically presented every Quarter (remember Q1, Q2) that shows a company’s performance highlighting Sales, Revenues, Profits etc.
GDP: Total monetary value of all goods and services produced in a region. Geek out here. [Psst.. monetary value is “the amount that would be paid in cash for an asset or service if it were to be sold”]
Corporation Tax: Tax paid by companies. What is Tax? Discuss with Mum, Dad or a big person.
Woah 😱 Weird 🥴?
Whose been playing WORDLE?! Well, 2 million 👀 people is all. Everyday. No wonder the New York Times decided to buy it for a 7 figure sum i.e. > $1,000,000 ++ i.e one. million. dollars++. 😱😱😱 👇
Inspiring business people to know 🙏
Meet Josh Wardle, our inspiring business person of the week.
![Josh Wardle on Twitter: "An update on Wordle https://t.co/TmHd0AIRLX" / Twitter](https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbe8dc912-df01-466a-b42a-8cb3a9155a92_400x400.jpeg "Josh Wardle on Twitter: "An update on Wordle https://t.co/TmHd0AIRLX" / Twitter")
Josh Wardle is the founder, creator, of Wordle! Wardle <> Worlde 🟩⬜️🟩⬜️🟧 - see the benefits of being a creator?! You can name stuff after yourself 🚀. Wardle, a resident of New York, grew up in the Welsh 🏴 town of Llanddewi Rhydderch, and originally created the game for him and his partner to kill time during lockdown🚷. As his friends and family started using the game and liked it, he made it public.. and well the rest is history. In his day life, Wardle is a Software Engineer and Product Manager and worked with companies like Reddit & Pinterest. We loved his story, given our love for creators 🛠.
About BNFK
Knowledge is at the heart of being. To be more, we must know more.
BNFK distills the latest, most interesting, Business News 📰 .. to an emoji filled, ultra informative, and fun Newsletter for Kids. Delivered every Sunday. Previous editions here. Forwarding this? Ask them to hit 👇 & subscribe for FREE.
Stocks, stonks and.. ⚡️
Stonk alert - into NFTs? Watch out for Wash Trading 🌪 i.e. owners buying their own NFTs multiple times over 🔁 to boost prices and eyewash, hoodwink everyone else! Over 110 accounts have been identified and assumed to have made $8.9 million in profits with questionable trades.
While startup land continues its positive moves with Subscription management platform Chargebee raising $250 million at a $3.5 billion valuation 🚀
NFTs, raised, valuation 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!
Given all the ups and downs and mega swings all around.. this week's model is short and sweet and meant to remind us to not let influences of others impact our choices. Objectivity over Subjectivity.👇👇
Here goes >> Theory of Objectivity as a mental model >> When possible, we should always view situations, and take decisions, objectively 🤷. Genius. Without bias. And if possible with data and true information.🤯While the above might be an oversimplification, for more context ask a big person to read and explain this ‘what not to do’ note on Farnam Street and also this from Wikipedia.
Tech, products, toys ++ 🤖
A Ferrari SUV 😱, could this be👇?! We have no way to verify these images so take them with a pinch of Puro-san-gue and expect prices to be north of £200,000 aka $270,000++. 😎 🚀
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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