Business Booms, Energy Crisis Looms
Edition 29
Gpud Mpornping.. or Good Morning as they say in P language 🤣 😆. Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 🤯).
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.
Catch our previous editions here. If you’re forwarding this to someone, they can hit this 👇 to subscribe for Free.
Busy business this week 💼
Indian e-commerce giants netted $4.2 billion or Rs.32,000 crores 💰😱💰 in Gross Merchandise Value in the the first week 😅 of online festive sales. Amazon accounted for 28% of it.
While business booms, an Energy crisis Looms.. Britain 🇬🇧 and pretty much all of Europe faces an energy ⚡️ crash, as might many other parts of the world. Natural gas prices soared nearly 600% given the post pandemic surge in economic activity and are impacting everything from household heating to factory production. Read this NYT article to understand why.
3 economists based in US have won Nobel for their research on labour force and proving that an increase in minimum wage doesn’t impact hiring 🎉 + that adding on immigrants to the work force doesn’t reduce wages for native-born workers. 🧑🌾
Amazon owned camera security 🎥 device Ring hits a snag in the UK as a Doctor sued their Ring-owner-neighbour over privacy concerns, and won. Nearly 400,000 Ring devices sell during festive months meaning a whole lot of trouble for a whole lot of people.
Elon Musk’s net worth soars to $230 billion, more than Bill Gates and Warren Buffet combined 😱😱!! Now the Tesla and SpaceX CEO is the richest man in the planet. 🚀
Wait, what is..
GMV: or Gross Merchandise Value is the collective sales price of all goods sold in a period of time.
Net Worth: Worth or Net Worth is the total value of all assets you own less all your liabilities e.g. the value of your homes, your stocks and all of your investments minus any loans is your Net worth.
Liability: In business, and specifically in accounting terms, liability typically means an amount you owe someone. Way more complex explanations here.
Woah 😱 Weird 🥴?
A solar powered house on wheels 😱 ! Students from Eindhoven University designed a solar powered camper with a 454 mile range. Named Stella Vita, it was made by 22 students 👏👏.
Inspiring business people to know 🙏
Meet Sharp Arv, our inspiring business person of the week.
12ish-year old Sharp Arv, is 2184’s Earth saviour. The sharpest and fastest mind around, he can solve a rubiks cube in 40 seconds and save the planet in 4 😱. There is no one smarter than he 🤯. Earth’s foremost thinker, and independent traveller, he is the one Ana Montana turns to when she and Earth are in trouble. He is an NFT. 😆Living on the Ethereum blockchain.. right here.
Stocks, stonks and.. ⚡️
Indian Neo-banking start-up Open raised $100 million 🎉 in its Series C round led by Singaporean investment firm Temasek at a $500 million valuation. The company claims to process $20 billion worth in transactions for over 2 milllion SMEs. 👏
Asia sees $106.1 billion in funding surpassing all of funding raised in 2019, and nearly topping all of the money raised in 2020 😱. For context, 2018 saw Asian startups raise a cool $149.9 billion 🚀
Raise, Series C, Valuation 👉 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!
A promise is a promise 🤝 - If you've committed to, or promised something to someone, you ought to go on and get it done. Just like writing this Newsletter.. we promised we'd send it every week as a commitment to our readers.. as so we must. It's a simple yet very important Mental Model for success. When in doubt, remember, a promise is a promise. 😎Tech, products, toys ++ 🤖
Get set to sail 🚢 away this Christmas with a 9,090 piece Titanic! Lego released its $629.99, biggest ever, set at more than 4 feet long and with a 1:1200 ratio to the original ship 😱. Open for orders November 8.
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. 🚀