Edition 15
Bugatti Bought, Era Etched, Oled Switch-ed
Jó reggelt kívánok (yo-reget-kiva-nok) or good morning as they say in Hungarian! Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 🤯). Talking of Hungry, startups seem to be rather so 😅. Globally, in the first half of 2021, startups raised nearly double the amount vs. the first half of 2020; while Indian startups raised more money in the first half of 2021 than in ALL of 2020 😱. Wait, what’s Raised?! 🙂 Checkout “Wait, what” 👇.
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 > Edition #0 , Edition #1, Edition #2, Edition #3, Edition #4, Edition #5, Edition #6, Edition #7, Edition #8, Edition #9, Edition #10, Edition #11, Edition #12, Edition #13 👻, Edition #14.
If you’re forwarding this to someone, they can hit this 👇 to subscribe for Free.
Busy business this week 💼
Bugatti bought out 😱. Rimac, a Croatian electric ⚡️ supercar company, has acquired Bugatti.. from (believe it or not) Volkswagen!! Rimac said it will make a combined company named Bugatti Rimac. Did you know VW also owns Lamborghini, Bentley AND Porsche?! 🤯🤯🤯
Jeff Bezos has stepped down as CEO of Amazon. Bezos etched quite an era since selling Amazon’s first book in July 1995 to today, hiring over 1.3 million people 🙇♂️ and reaching a staggering $386 Billion in sales 🚀. He will continue to oversee the company as Executive Chairman while long time Amazon employee and AWS head Andy Jassy will take over as CEO. 🙌
The US Department of Defence 🛸 🛰 🛸 has decided to cancel the $10 billion JEDI cloud computing contract. The deal was originally won by Microsoft, but Amazon challenged saying the US government unfairly favoured Microsoft.
Former US president Donald Trump is suing Google, Facebook, Twitter and their CEOs 😬. His claim is that by banning him, these companies violated the First Amendment and his freedom of speech. 🤐
Top facebook executive Fidji Simo has been appointed CEO of the IPO bound, second most valued US start-up, Instacart 🚀. Founder Apoorva Mehta said that he will now move into the role of executive chairman.
Wait, what is..
Raising, Raised 📈: A startup ‘takes’ money from investors over a period of time, at different stages of its life. Each time they take this money, its referred to as Funding round; or you can say they Raised the money.
Acquired 🤗: When a company buys another company. If company A bought company B, then one can say that Company A ‘acquired’ Company B 🤷.
Cloud computing ☁️: Nothing but a large network of computers that we can use “on-demand” i.e. when we want. So instead of buying our own servers we can simply rent them from the “cloud”. Geek out here.
Contract: A legal agreement 📝 between people, or companies, that lists down all the important terms and conditions of a transaction between them.
Sue, Suing, Sued 😅 (refresher): To file a compliant against someone in court ⚖️. What is a court? Ask a big person at home.
Going IPO, Listing, Listed 💹 (refresher): Most companies begin life as a Private company. This simply means the Shares of the company are not bought and sold freely. When a company says they are going ‘public’ or that they are ‘listing’, this means that they are now making available their shares to be bought and sold by anyone in the public.
Direct Listing (refresher): Direct listing 📈 in another way of taking a company public and listing it’s shares for sale on a stock market. Its different to an IPO. Discuss with Dad or a big person at home. See how a company listed this way in Stocks, Stonks 👇
Monetisation: Ways a company makes money. Big people will often say “What is your monetisation strategy?” all it means is how will you make money?! Companies monetise in different ways - advertising, subscriptions, one of purchases etc.
Woah 😱 Weird 🥴
BOOM💥💨.. or not. Aerospace defence company Lockheed Martin & NASA, have conceptualised a quiet(er) 🤫 supersonic aeroplane 🛩. When supersonic jets break the sound barrier i.e. fly faster than sound, they generate a sonic boom (supra loud sound) that can some times break windows in your home 😱. It’s quite the engineering feat 👇
FREEEEEDOM given to the EVER GIVEN. This time literally. The ship 🚢 🚢 that blocked the Suez Canal for a whole week and held up goods worth $9.6 billion every day, was finally released by Egyptian authorities that had ceased it for causing much mayhem. A penalty, reportedly between $150-$550 million, had to be paid 😱💰😱.
Inspiring business people to know 🙏
Meet Fidji Simo, our inspiring business persons of this week.
Fidji is the CEO of $39 billion grocery startup Instacart. At 35, she is one of the youngest CEOs of a multi-billion dollar company 🙌. Previously, she spent 10 years at Facebook helming some super important roles. She was the head of the Facebook App and also VP of Video, Games & Monetisation; and was instrumental in introducing Advertising into Facebook’s newsfeed, helping them build a $55 billion business 😱.
Stocks, stonks and.. ⚡️
Crossborder payments company Wise (formerly Transferwise) completed it’s direct listing ⚡️ on the London Stock Exchange, netting a $11 billion valuation💰 and making it one of London’s biggest ever tech listing. The stock was up nearly 20% in the first few days of trading 🚀.
Across borders 🤣, all the way in India, food delivery company Zomato 🛵 will open it’s IPO on 14 July to raise a whopping Rs.9,375 Crores i.e. ~$1.25 billion. Valuing the co at a cool $8.6 billion 💰. Checkout their metrics in this graphic by Inc42 👇. Make some interesting observations & discuss with Mom or a big person at home.
Source: Inc42.com Revise 🥸: Direct Listing, IPO from Wait Why 👆
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!
Falling not Failing 💪 🦾 - A mental model for positive thinking. Every once in a while we think up a mental model all by ourselves, or with inspirations from people around us. Today's model is a result of a Dinner 🍲 chat with uncle Dennis. It goes like so..
There are many situations we may encounter in our day to day lives where we end up feeling unsuccessful, or worse, think that we 'failed' to achieve something.
The next time this happens, simply think of Failing as Falling. We all fall, don't we? What happens next? We get up and get going again. 🚀🚀Tech, products, toys ++ 🤖
New Switch hitting soon. Nintendo showcased an all new 7” OLED Switch to be released on 8th October 2021. A Switch Pro model was rumoured for a bit and seems this is it 👇. Prices start $349 in the US & £309 in the UK.
BMW launched the CE04, a new electric scooter 🛵 that looks like it’s been sent back in time from 2040. With an 80 mile range and $11,000+ price tag it hits the US markets next year.
Mobile devices startup Nothing (yes thats their real name) introduced its first product, the Ear 1 - wireless earphones with noise cancellation at $99 that they say is as good as Apple’s $249 Airpods. Don’t miss the cool transparent design.
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. 🙏