#56 Twitter deal on hold 😱
Over fake user concerns
Welcome to another edition of Business News for Kids 🙇♂️.
Busy business this week 💼
Elon Musk places $44 billion twitter deal on hold, awaiting a fake accounts review report 😆. Mr. Musk is waiting to find out if Twitter’s ‘fake’ user count i.e. bots 🤖 etc. is less than 5% of its overall user base.
While another iconic deal was put on hold. EA Sports 🎮 ended its 30 year partnership with FIFA, after FIFA wanted to increase licensing cost from $150 million/year to almost $300 million/year 😱⚽️😱.
Thankfully our deal with Earth 🌍, seems to be getting better. The International Energy Agency said that the world will set a new record for Renewable Energy capacity, rising to 320 gigawatts from 295 in 2021. Thats enough energy to power all of Germany 🇩🇪.
Perhaps even with the Moon 🌖. Scientists in Florida managed to grow plants 🌱 in Moon soil. Yup, earthly plants might just survive with humans in planets afar 🚀.
And another set of smart humans 👩💻🧑💻👨💻 at Google launched a bunch of new innovations at its Google I/O event. From a new smartwatch to some really really smart language AI 👈 read that :)
Wait, what is..
Inflation: For all the talk of inflation last week, we entirely forgot to explain.. wait, whats inflation 😅! So we’re making up this week. Inflation is the average increase in prices of a “basket of goods” on an annual basis. Geek out here. And fyi that basket of goods may include 80,000 items 🤯.
Woah 😱 Weird 🥴?
Hugging Face nabs $100 million at a $2 billion valuation. Yup 👈 that right there is a legit headline and… believe it or not.. a legit company! A company named Hugging Face 🥴 worth $2 bn 😱. Read about its life from Chat app to Machine Learning super app👇👇👇.
Inspiring business people to know 🙏
Meet Julien Chaumond & Clément Delangue, our inspiring business person(s) of this week.
Julian and Clement are founders of Hugging Face 🤗. The started Hugging Face as a Natural Language Processing (NLP) chatbot “for bored teenagers” - basically back then you could send a message to their bot, it would recognise how you were ‘feeling’, and respond accordingly. Imagine a machine understanding how you feel!
Soon enough they realised that the technology they were using in the backend had way more uses. And a chance release of that technology helped them create a new vision of becoming a collaboration space for AI models and data. And be worth a whopping $2 billion 🤩.
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.. ⚡️
The stock markets on the other hand are YO-YOing. Crypto currency trading company Coinbase saw stock drop over 20% in one day on Wednesday and then bounced back 16% on Friday 😅. The same story repeated across several new age tech stocks 🤷.
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 Luck by Chance mental model - a la original of course 😀 - the luck by chance model states that you can't get lucky by doing nothing - you get lucky, by chance, from doing something 😆.
Sometimes while you're hard at work on an interesting problem, luck favours you and voila you have a $2 billion co, just like Hugging Face 🤗.Tech, products, toys ++ 🤖
The iPod is dead. Long live music. Apple discontinues it after 20 years. If you’re wondering iPod what?! Ask mom, dad or an ‘old’ person 😆. Apple’s iPod revolutionised the Music Player hardware market and inspired many new Apple creations like the iPhone and App Store. It was one of the best music inventions after Sony’s Walkman.👇
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. 🙏