Edition #23
Booming Back, Apple, Google Get a Rap
Welcome back to another edition of Business News for Kids. While social & ecological mishaps continue, economically things seem to be back on track. Read about how a country’s GDP is zooming 🚀👇. Wait what’s GDP? 🤔 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. If you’re forwarding this to someone, they can hit this 👇 to subscribe for Free.
Busy business this week 💼
India posted a 20.1% growth in it’s GDP, making it the worlds fastest growing economy 🚀👏.
Football summer transfers and GDPs seem at odds however.. Premier League summer spending fell to lowest levels since 2015.. thats what happens if you reject $190 million bids.. like PSG rejecting Real Madrid’s bid for Mbappe 😱.
Source; Cityam.com via Deloitte Ycombinator, the world’s leading startup accelerator 🚀 held its Demo Day - when participating companies show investors 💸 what they’re up to - must check out companies in these TechCrunch lists here and here. Which is your favourite? Why? Discuss with Mom or a big person at home.
In a big pro-competition move, South Korea passed a bill forcing Apple, Google app stores to allow alternate payments mechanisms 🎉. Both companies charge developers a hefty 30% commission and do not allow use of any other payment methods than their own 😱. More countries are likely to follow suit ✌️.
And continuing news no.5 from last edition - keep a look out for our NFT release special newsletter 🤯. Coming soon.
Wait, what is..
GDP: Loosely speaking, GDP or Gross Domestic Product is the total Revenue generated by ALL goods and services sold in a country. Remember that this might be an oversimplification🤷. Geek out here.
Startup Accelerator: a company that helps a startup with guidance and money, to help them grow at a faster pace.
D2C (useful later): or Direct-to-Consumer brands are product companies that make their own products and sell them directly to consumers through their own website or retail stores. They don’t use traditional models of selling via Distributors and Retailers. Ask a big person about Distributors & Retailers.
Refresh: IPO, Direct Listing, etc. 👉 Wait, What Glossary 👈
Woah 😱 Weird 🥴
Its doesn’t get more Woah than this👇. The United States waived off 👏 student loans for over 300,000 disabled student loan borrowers totalling a cool $5.8 billion 🤯.
Inspiring business people to know 🙏
Meet David Baszucki our inspiring business person of this week.
If you play Roblox, you might know this man as the builderman 👷♂️. He went to Stanford University, studying electric engineering 👨💻 and in the late 1980s with his brother created Interactive Physics, a simulation based education program. Using this software they founded their first company Knowledge Revolution and sold it for $20 million in 1998. In 2004, Baszucki and Erik Cassel started forming Roblox, then called DynaBlocks. The reason they chose Roblox was because of Robots 🤖 and Blocks 🧱🤷. He owns roughly 13% of the $47.66 Billion Roblox Corporation 🚀.
Stocks, stonks and.. ⚡️
D2C brands to see first public listings - eye glasses startup 👓 Warby Parker, filed to go public via a Direct Listing while shoe maker 👟 Allbirds filed for an IPO. Last August, Warby Parker raised $120 million at a $3 billion 💰💰 valuation with revenue jumping 53% in 2020 and closing at $393.7 million. Allbirds on the other hand could be heading to $1.7 billion valuation with first half 2021 revenues rising 26.7% to $117.5 million 👏.
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!
Seizing the Middle 🎯 - Based on Chess, this mental model essentially tells you to focus, and keep great control, on the things that *really* matter.
You see, in chess ♜ its considered key to control the middle of the board, so as to maximise move possibilities. Whoever first gets in this position is able to control the game. It can sometimes also mean that focus must be kept on the middle than on the fringes i.e. on the not-so-important things 🤷.
Geek out here with help of Dad or a big person.Tech, products, toys ++ 🤖
Roblox launching Voice Chat! Given Roblox is one of the leaders in the metaverse 🗺 race, they’ve been figuring how to stay ahead! And are launching Voice Chat 📞💬.. an important feature in the metaverse, to help players communicate quicker. So instead of chat bubbles appearing above characters heads, if someone meets someone on the streets of Jailbreak, a game in Roblox, they can just naturally talk to them 🗣 🎙.
A car with no steering wheels 🤯? By 2023? Might seem unlikely, but yet very possible👇 #Tesla 😅
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. 🙏