Edition 19
Jobs's Job Application, Rupee's eRupi, Palm Prints to Print
Sabah alkhyar (sa-bah-al-kha-yar) or good morning as they say in Arabic! Welcome back to another edition of Business News for Kids (BNFK for short; genius isn’t it? 🤯). A news report we wrote👇 meandered our minds towards how difficult life has been this past year, more so for 700 million people that live below the poverty line 😔. But.. we were left wondering.. Wait whats Poverty Line? 🤔 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 > #0 , #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12, #13 👻, #14, #15, #16, #17, #18.
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Busy business this week 💼
Steve Jobs’s Job application 🤷 that was handwritten by him 3 years before founding Apple sold at Auction in Physical and NFT form. The physical letter sold for $343,000 while the NFT sold for $27,460. Given the NFT craze we’d have thought the reverse 😱. But well who wouldn’t value a handwritten, real-feel, note by Jobs himself ✌️.
Source: 9to5mac.com via https://stevejobsjobapplication.com India launches e-Rupi 🎫, no not a crypto currency but a super important virtual voucher 🎟. You see, India has a large population living below, or near, the Poverty Line 😔 and the government has to reach them in order to help subsidise basic necessities like food 🍽 and education🎓. Earlier the government would send these subsidies as cash payments 💵 to their bank accounts, but many people did not have one.. what they did have was phones 📲! With e-Rupi they can now get their vouchers as a simple SMS 🤯. Read this fantastic write up. Ask Mom what is a Subsidy?
Earnings keep coming.. Berkshire Hathaway, the energy to insurance mega conglomerate reported a 21% growth in operating earnings, signalling a broader consumption comeback. While plant based meat maker Beyond Meat saw weaker than expected results resulting in a 4% share price drop. Uber beat expectations, reporting a surprise Profit; but core business is still loosing a lot of money.. like $500 million lots 🤯. Ask Dad or a big person at home what is Consumption?
Chinese smartphone maker, Xiaomi, became world’s no.1 Smartphone 📱 seller for the first time ever 🎉! Research company Counterpoint released a report showing Xiaomi with a 17.1% market share; Samsung is at 2nd with 15.7%.
Global parcel shipping giant DHL, just ordered 12 super cool electric Cargo planes 🛩 from electric plane start-up Eviation that we covered recently. The planes look soooo sick - don’t miss the video.
Wait, what is..
Poverty Line: The Poverty Line represents the basic minimum amount of income that is needed by one person to afford basic essentials to live. Currently the poverty line is defined at $1.90 i.e. a person needs atleast this much to afford basic necessities. Read more here and here.
DRHP (useful later): DRHP or a Draft Red Herring Prospectus is a mandatory document submitted by companies when they file for an IPO. It details a companies performance, key information that impacts performance, and details like how they make money, risks involved, and so on. The idea of an DRHP is basically to help investors understand whether it makes for a good investment or not.
Recap: NFT, IPO 👉 Wait What Glossary
Woah 😱 Weird 🥴
How’s $10 for the worth of your fingerprints / palms prints 🐾 ?! Amazon is offering customers $10 🤔 as in-store shopping credit if they allow it to store their palm prints to use the wave 👋 to pay Amazon One payment system 😱.
While the pandemic is wearing off (we hope so atleast), LG seems to be prepping us for the next one👇 launching a purifying mask with a built-in mic and speakers 🥴.
Inspiring business people to know 🙏
Meet Lei Jun our inspiring business person of this week.
Lei Jun is the founder and current CEO of Xiaomi. He is also the Chair of 4.. yes FOUR different companies 🤯!!! Lei Jun is a serial founder, his first accomplishment was taking a security software company he joined to IPO. In 2000, Lei founded an online book store, Joyo.com, which he sold to Amazon in 2004 for $75 million. He also founded investment firm Shunwei Capital, investing in companies like Nio Cars and India’s Zomato. In 2008, he became a chairman of UCWeb, a mobile browser company and then, in 2010, he co-founded Xiaomi, which, as you know, is the world’s no.1 🥇smartphones company (as of June 2021).
Stocks, stonks and.. ⚡️
Remember Robinhood closing down 8% on IPO day? Well they shot up more than 80% 🚀🚀🚀 in the next few days touching $85 🤯😱🤯. As of Friday, the stock is trading at $55 still up >40% from its IPO price.
India startups continue their IPO sprints 🏃, with online insurance policy marketplace PolicyBazaar.com filing for IPO to raise ~Rs.6000 crores i.e. little short of a $1 billion. Read this breakdown of their DRHP by Entrackr.com.
Source: entrackr.com
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!
Circle of Competence ⭕️ - Remember Warren Buffet, from Edition 8 inspiring business person? Well, we can thank him for this mental model. He once said it to his shareholders "You don't have to be an expert on every company, or even many. You only must be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital."
What he basically means to say is, sometimes it's important to focus on things you know and be comfortable to call out "I don't know that" for e.g. say an investment advisor is trying to sell you an investment plan that you don't understand, its okay to walk away from it and not invest; than invest in something you don't understand. 😅
Similarly, I can solve a Rubik’s Cube rather well, and if I had to teach someone something I'd pick teaching them about solving the Rubik's cube🧊.. than say teaching them Art 🎨 🤷.Tech, products, toys ++ 🤖
Google announced the launch of its Pixel 6 & 6 Pro devices. Google doesn't usually announce new Pixel phones until later in the year. But, as you know, 2021 has been completely cuckoo 🐥. We don’t know exact dates of new phones yet, but we do know they will be powered by Google’s new Tensor chip.
Source: zdnet.com via Google
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. 🙏