#53 Netflix subscribers drop, stock crashes
Time to stop sharing those passwords
Welcome to another edition of Business News for Kids 🙇♂️. Lest we forget, a large number of kids continue to be impacted by a horrible, and unnecessary, war. We are working on something to help in a small way. Details in next week or two.
Busy business this week 💼
Streaming giant Netflix reported that it lost 200,000 subscribers in 2022 Q1 (Jan Feb March) and that it expects to lose 2 million more 😱. Shares tumbled over 35% on the day with it trading at $215 on Friday - a whopping drop from its 52-week high of ~ $700. That 👇 is what a 35% drop looks like in one day.
But this might not be good news for all of those sharing their Netflix passwords. Of the 300 million households that use Netflix, apparently 100 million use a shared password. 😱
Not wanting Netflix to be the only streaming service in trouble, following in close CNN+ the streaming service launched by popular American news channel CNN shut down within 1 month of launching! 😱 Thats over $100 million in investment gone to zero in ~ 30 days. The cause could also be a messy ownership history.
While Elon Musk (supposedly 🤷) seems serious about his Twitter bid 🐦; claiming he had secured $46.5 billion to fund the acquisition.
While another user’s Twitter investment isn’t seeming to pan out.. A Mr.Estavi had purchased an NFT of the first ever tweet to be posted on Twitter, by Twitter founder Jack Dorsey, for $2.9 million; he put it on resale hoping to get $48 million but bids only hit $6,800 till Thursday last week. Basically he might end up loosing nearly all of the $2.9 million paid for that NFT 😱. The bid at the time of writing had reached $30,495 🙂.
Lastly, we can thank Russian aggressor Mr.Putin for slowing down the world economy 📉. The IMF that had projected global economic growth of 4.4% reduced its forecast to 3.6%, citing the Russian invasion of Ukraine.
Wait, what is..
Subscribers: the absolutely awesome people that join and use a product or service on a recurring basis (like you all 🤗). Subscribers can be free or paid. Paid ones typically pay an ongoing fee for e.g. a weekly, monthly or annual fee. 🚀
Stock was trading at: Trading in this context meeting trading in any other concept really 🙂 - simply put, it means that that was the share price of the stock at which people could buy or sell it i.e. trade it 😆.
Economic Growth: Geek out here.
Woah 😱 Weird 🥴?
Can’t quite decide if this👇 is woah or weird. You’ll soon be able to react to whatsapp messages with emojis 🤷. Guess more like woah given we love using them emojis here. 💬👍❤️.
Inspiring business people to know 🙏
Meet Jack Dorsey, our inspiring business person of this week.
Jack Dorsey is the erstwhile CEO of social media company Twitter 🐦 AND current CEO of payments behemoth Square 🟨 aka Block 🔲. Together, Twitter and Block add up to a $150+ billion market cap 🤯. He co-founded Twitter in 2006 with Evan Williams, Biz Stone and Noah Glass, and was CEO until 2008. He returned back to the position in 2015 and stepped down again in 2021. Jack Dorsey and Jim McKelvey cofounded Square in 2009 and then took it public in 2015 🎉. Jack is a big believer in bitcoin 🪙 as the global currency 💸 of the internet.
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.. ⚡️
European startups have managed to buck the trend of slowing global investments with Q1 2022 funding growing 20% to $29.8 billion. 🚀 Global funding dropped 13% from $184 billion to $160 billion while North America funding dropped 11% for the first time in a year.
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!
Someone recently tweeted "one clear headed systems thinker can produce more output than 100 unorganized people working very hard" and that got us thinking about Systems Thinking 😅.
Well systems thinking is a sort of higher order thinking.. or say thinking from a view above 🌩. Say you were trying to solve a problem or come to a decision - just imagine floating up 😇 and looking down upon - not the just the problem, but everything connected to it. The entire world 🌎 if you will and take a very broad view to understand how things might be inter-connected or impacted by your outlook of that issue or decision. This ability to think broadly in an inter-connected manner, to solve problems and make decisions, is Systems Thinking. Try to cultivate it. 🥷The tweet. Read more about Systems Thinking here and here.
Tech, products, toys ++ 🤖
Android software and Pixel phones maker, Google, trademarked a new name for its upcoming watch - “Pixel Watch” 😅 ⌚️ 👇 - as Verge puts it, “did we really think it would be called something else?!” It’s likely to be shown or teased next month at the Google I/O event. See the trademark filing here.
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.
Take care. See you next week. Pray for Ukraine and for Russian citizens. 🙏