Welcome to another edition of Business News for Kids 🙇♂️.
Busy business this week 💼
The World Bank’s latest economic growth forecast has dropped global growth estimates to 2.9% for 2022 and warned of an oncoming stagnation or slow down of several economies.
While the Organisation for Economic Cooperation and Development (OECD) has forecasted that the United Kingdom’s economy is expected to grow by a grand total of 0% in 2023 😱. See this interesting chart 👇 on global growth by The New Statesman.
At the back of all this slowdown and 🚀 high prices, Apple has entered the infamous Buy Now Pay Later market with the launch of Apple Pay Later. The BNPL market is expected to account for 5.3% of global payments or a cool $438 BILLION 🤯 by 2025.
And there is no holding back for some Sun 🌞 inspired Solar power.. Lightyear, the maker of Solar powered cars says its $263,000 😎 Lightyear 0 car will go into production this year. Its got a cool 388 mile / 600km+ range.
But another cause of inflation / rising prices, i.e. supply constraints continue unabated - popular Sriracha hot sauce 🔥🌶 maker Huy Fong Foods warned unprecedented shortages will last for months; Maple Syrup 🍁 shortages on the other hand seemed to be easing with a record harvest.
Wait, what is..
Economic Growth: measure of how much an Economy grows.
Economy: An economy is an area, or a region, where production and consumption of goods and services takes place. Therefore the Economy of a country, or the world, includes ALL the money made for goods, services produced in it.
Stagflation: a state of the Economy that sees a combination of economic stagnation (low economic activity) and high inflation (rising prices) at the same time. Geek out here.
Woah 😱 Weird 🥴?
Last week was Back to the Future with the DeLorean, but this week seems the Future is already here 😱. Startup Bellwether Industries revealed footage from the first test flight of its two seater eVTOL i.e. Electric Vertical Take Off & Landing flying ‘car’.👇
Inspiring business people to know 🙏
Meet Lee Su-jin, our inspiring business person of this week.
Meet Lee Su-jin founder of Yanolja - Janitor turned Billionaire. Yup you read that right. Lee founded his hotels and travel startup at the age of 27 using the connections he made working in the housekeeping department of hotels.
Orphaned as a child, Lee saw SoftBank’s Vision Fund buy a 25% stake for $1.7 billion in 2021; valuing Yanolja at $6.7 billion 🤯. With his family’s owning >30% they’re worth a cool few billions. 🚀
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.. ⚡️
Online retailer Amazon’s stock went from $2,785.58 to $139.28 like overnight😱. How in the world you ask?! Split is how. A 1:20 stock split. Read this and discuss what Stock splits are with a big person.
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 Law of Utility. There isn't one frankly speaking 🤷😆 but UTILITY is more important a word than we imagine it to be. More so when thought as a mental model 🚀💰.
In economics, Utility = the total satisfaction experienced from consuming a good or service.
Before you buy, make sure to think IF you'll get max Utility aka satisfaction from your next purchase. And only then go ahead to buy it.Geek out here.
Tech, products, toys ++ 🤖
Apple held its annual developer conference WWDC and introduced some cool software updates, features and products; coolest amongst which was the new M2 chip Macbook Air 💻👇👇
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. 🙏
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