Edition 11
Fastest Production Car, G7 Meet, $28 million Seat
Günaydın or good morning as they say in Turkey! Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it?) 🚀. In person meetings are now a thing again 👏. G7 leaders 🇺🇸 🇬🇧 🇨🇦 🇫🇷 🇩🇪 🇮🇹 🇯🇵 met in the UK, in what was possibly the first ever physical meeting of national leaders since the pandemic. Wait, what’s G7?! 🙂 Checkout the “Wait, what” section 👇.
About BNFK
Knowledge is at the heart of being. To be more, you must know more.
With this weekly we distill the latest, most interesting, Business News 📰 .. to an emoji filled Newsletter for Kids. A dad 👽 & son 👾 experiment, delivered every Sunday.
Catch our previous editions here > Edition #0 , Edition #1, Edition #2, Edition #3, Edition #4, Edition #5, Edition #6, Edition #7, Edition #8, Edition #9, Edition #10.
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Busy business this week 💼
G7 leaders met in the UK at Carbis Bay in Cornwall, in-person 🫂. This is the 47th meet of the G7, the previous one (the 46th 🤷) that was to be held in the USA was cancelled due to the Covid pandemic. The G7 meets every year and one of the most important announcements to come out of this year’s meet was to agree on a global minimum Corporation Tax of 15% 💸. Countries such as Ireland and the Cayman islands act as tax havens by offering lucrative tax rates to companies so that many times they don’t have to pay ANY taxes on their profits😱💰😱. Discuss with Dad on how this impacts the Budget of a country?
Tesla Model S Plaid finally revealed! It’s the fastest production car ever and hits 0-60 miles/hour in under 3 seconds 😱 - 2.99 seconds to be precise. The electric vehicle company handed over 25 cars on Friday evening, and plans to expand to several hundred cars per week shortly and a thousand cars per week by the next quarter.
Source: cnet.com Jeff Bezos said that he and his brother will fly on the 1st Blue Origin space flight! And remember the seat bids 🚀 going for $2 million? Well, a mysterious bidder shall fly aboard the spaceship with Jeff Bezos on 20th July, after they bid & paid a cool $28 million 🤯 for the seat 💸 💸 💸 . That really roiled Virgin Galactic CEO Richard Branson, who is said to have told his team to get their commercial flight going before Mr.Bezos gets in the air!
The Food & Drug Administration (FDA) of the USA, approved a new drug 🧬 to treat old age related disease Alzheimer’s. It’s been 20 years since a drug has been approved for Alzheimers. It’s estimated that the cost of administering it can be as high as $50,000 🤯per year; with over 50 million patients to treat, this is a huge huge huge 🚀 market, but the drug has its fair share of controversy with many scientists questioning if it even works 🤷.
Remember the oil pipeline ransom attack from Edition #7? Well the US government said it managed to get back millions of $$$ that were paid to the hackers as ransom. 🥳
Wait, what is..
G7: The G7 or the Group of Seven is a group consisting of these seven countries - 🇺🇸 🇬🇧 🇨🇦 🇫🇷 🇩🇪 🇮🇹 🇯🇵 (guess which they are) - that share a similar, or common view, on economic & political matters. They exist to foster cooperation between like minded, democratic and forward looking countries. These countries represent nearly 46% of the worlds GDP. Wait, whats GDP 🙄?! 👇
GDP: Gross Domestic Product is the total Revenue generated by ALL goods and services sold in a country. Ask Mom or a big person at home what are Goods and what are Services?
Tax Haven: A country or region that offers international companies or people ways and means to pay little or no tax 🥸.
Patent: A patent is a type of right, given to an inventor, that disallows anyone else from making a similar solution or product. This is a slightly simplistic way of putting it though.. since a patent doesn’t really patent an idea, but a method. 🤷 Discuss with Dad or a big person at home.
Woah 😱 Weird 🥴
Harry Potter is making a splash 🪄 all the way in the USA. It just opened an exclusive 3 floor store in New York City 👇.
And clearly its not just about physical shops but virtual, online ones too. Now you can Netflix & shop 🎥 - the streaming giant launched an online store 🏦 in partnership with e-commerce platform Shopify. You can now buy t-shirts 🎽 and memorabilia of Netflix’s famous and quirky shows👇.
We’re making an exception to include a 3rd story in here 🤷. It was too weird to ignore 😎. A man in South Korea has created a robotic Third Eye 🧐 so that phone fanatics can keep looking at their phone and walking, safely, supposedly!!! Children, please never ever buy that device, or look at your phones and walk 🛼.
Inspiring business people to know 🙏
Meet Herb Keller, our inspiring business persons of this week.
Herb Keller was the founder, CEO & Chairman Emeritus (kind of like forever and ever) of the super successful American low cost airline Southwest Airlines 🛩. He founded the airline in 1966 with Rollin King. He mastered the economics of airline travel, generating a profit for a straight 47 years from 1973 to 2019. While he passed away in 2019, he left a legacy of how to be prudent with spending and operations to make profits, his quote “Think small and act small, and we'll get bigger. Think big and act big, and we'll get smaller.” was a guiding principle for the airline and offers much to learn in our daily lives. Discuss with a big person at home. 🚀
Stocks, stonks and.. ⚡️
India’s most valued startup, PayTM, a payments and fintech behemoth last valued at $16 billion, is said to be planning an IPO to raise $3 billion 🤯. This inspite its revenue dropping 📉 nearly 30% 😱. Can you make sense of the below 👇 numbers with Mom or a big person at home?
Source: Economic Time ETtech
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!
Game Theory as a mental model 🕹 - Game Theory, in its simplest sense is a model that allows us to decide what course(s) of action to take, given the actions of others in a set scenario or 'game'.
Now, in reality it isn't that simple. Give this article a read and you'll see that its a way to figure out all the various solutions or paths to get you to a particular result or set of results. The idea therefore is to try and model every action anyone involved in the 'game' could take and how that action would change an action to eventually give a different result.
Arv says, we should make it our homework for this week.😬🥳😬
What say? If you like, spend time studying Game Theory and post in the comments of this newsletter as to what you make of it and how you think you can use it!?Tech, products, toys ++ 🤖
Google is jumping on the folding phone bandwagon. While it’s only rumours, it might look like Samsung’s Galaxy Fold 2 but could have a ‘pull out’ screen instead. Check out these patent drawings 👇
Huawei introduced the HarmonyOS 2, aimed at the Chinese market with a focus on multi-device capability 🧮. When Huawei says ‘multi-device’ they are hoping that the OS will power not just phones 📱, but also home appliances, watches ⌚️, and cars 🚘 ! It has been working on the new OS ever since 2016 when it was banned from using US technology that included Android, the major OS of choice for phone makers in the eastern markets like China, India and South East Asia.
And Apple just concluded its WWDC21 🤯 or World Wide Developer Conference 💻 announcing a slew of new features. You can watch everything the announced in this super cool 10 minute video summary.
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.
Disclaimers: Please preview, review, and make sure to pass on only that content which you feel is appropriate for your kids. Images are copyrights of respective owners, we place image sources in caption or link the source website in related texts. Stocks or cryptocurrencies covered are in no way a recommendation and shared only for news / information purposes. We have near zero expertise on investing, and it’s always good to know that Cryptocurrencies are a highly risky, and even illegal, investment in many markets :)
Thank you so much for reading - Arv 👾 & Dad 👽 - Pls hit share to make someone’s day. And please take care. 🙏