China Crypto Crackdown, Twitter Ban, Coinbase Con
Edition 27
Ekaaro.. or Good Morning as they say in Nigeria. 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 💼
Nigeria is considering removing its Twitter ban. The President, Muhammadu Buhari, first put the ban because the company deleted a controversial post of his 🤷 that threatened to punish regional secessionists. The ban is supposedly costing Nigeria over $250,000 every hour 💸!
China is continuing its cryptocurrency crackdown. China’s central bank, The People’s Bank of China declared that cryptocurrency 🤑 transaction are illegal and that anyone dealing in crypto transactions will be deemed to be undertaking ‘criminal financial activity’ 😱😱😱.
While China is busy banning it, there are others busy stealing it! 😆 6,000 Coinbase accounts had cryptocurrency stolen from them 😱 after hackers exploited a vulnerability in Coinbase’s two-factor authentication method. Coinbase replaced the lost currency, the value of which is unknown 💰.
Ford's Mustang Mach-E passed Michigan State Police tests 👏. Apparently, it is the first EV to ever do so. Ford had pledged to invest $30 billion into EV tech. 🚀
Apple TV+ revealed to International Alliance of Theatrical Stage Employees (IATSE), that it had under 20 million subscribers compared to the 100+ million of Disney and 200+ million of Netflix 🤑. The lower numbers allowed it to pay lower fees to behind the scene production workers 🤷 😡.
Wait, what is..
Central Bank: The Central Bank or Reserve Bank of a country is the main (and only) financial institution that decides monetary policy 🚀 of that country.
Monetary Policy: Monetary policy is the set of rules and regulations that govern the production 💰 and distribution 💸 of money.
Woah 😱 Weird 🥴
After a long time we’ve got news that fits our section title!! Meet the world’s biggest NERF gun 🥴. Its 12.5 feet long, weighs in at 200 pounds and fires a mega sized dart at 50 km/hour 😱. Weird or Woah, you decide :) 👇 P.S. NERF maker Hasbro nets in over $400 million in Revenues every year. 🤯
Inspiring business people to know 🙏
Meet Ana Montana, our inspiring business person of the week.
7-year old Chief of the new world order, Ana Montana, is the most powerful human alive in 2184. She sits in her uge chair in her uge tower. All the business babies respect her, and she respects them. Now, she is travelling the multi-verse, spreading kindness and humanity. She is an NFT. Living on the Ethereum blockchain.. right here.
Stocks, stonks and.. ⚡️
D2C eye glass maker Warby Parker’s direct listing popped 30%+ with shares reaching $54.05 on opening day, giving them a cool $6 billion valuation. 😎
While Amazon funded EV SUVs 🚙 maker Rivian filed to go public at an eye popping $80 billion valuation. It has already raised $10bn so far and made a loss of.. wait for it.. $994 million 🤯.
Revise: Direct Listing 👉 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!
The Map 🗺 Is Not the Territory 🌎. Before you feel like this >> 🤯🤯🤯 lets breakdown what this mental model rally means.
Whenever you make a Map, you must remember that while it might be a good representation of the reality, it isn't reality itself 😱. E.g. the Map of India is not India is it 🤷. Another key concept to remember is that a map represents "how things were at a particular point in time", and those things may have changed entirely now.
When trying to tackle a situation, you might tend to make a map of it in your mind i.e. think of the situation in a particular way, but remember that that map in your mind is not reality itself. And so your actions, must be based on reality that you encounter than on the "map" in your mind! 🚀
Read more here: https://fs.blog/2015/11/map-and-territory/ Tech, products, toys ++ 🤖
After Apple & Microsoft, its Amazon’s turn for some hardware upgrades and boy have they got us flying high 🛸. Amazon launched a bunch of super cool products from a flying camera for $249 to a 2 feet tall home assistant Robot 🤖 called Astro for $999. 👉 Here’s everything they launched 👈.
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. 🚀