Facebook down, Tesla out of town
Edition 28
Gzud Mzornzing.. or Good Morning as they say in Z language 🤣 😆. 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 💼
Facebook down. Internet down. Facebook faced a colossal 5+ hour outage 🔌 on Monday that made it feel like the Internet was down.. with Facebook, Insta and WhatsApp crashing, over 2 billion people were left 🤺 disconnected. Sources estimate Facebook lost $100 million in revenue. It’s no simple outage given several million brands rely on FB to advertise (and make revenue) & millions of users in markets like India use Whatsapp for payments and transactions.
Tesla is moving out of town 😱. California town. Attracted by the Texas Economic Development Act that offers companies tax breaks on investments, Tesla has decided to move their headquarters to Texas. 🤠
Air India flying on. Indian conglomerate Tata Sons won the bid to buy Air India, India’s National Carrier ✈️ for $2.4 billion. The base bid price was Rs.12,906 crore, while Tata Sons quoted Rs.18,000 crore. Rs 15,300 will be used to pay debt, while Rs. 2,700 will be in cash 💰. Air India has a mega debt of Rs.61,652 - much of which will be paid by the Government of India 🇮🇳.
Big data analytics company Palantir Technologies, that went public last year, announced it has been awarded a contract by the U.S. Army to build an “intelligence data fabric” i.e. analytics to help spy 🕵️♀️ . The announcement saw Palantir stock rise by 7%. 🚀
Sigma Lithium and LG Energy have struck up a deal that will see LG consuming over 100,000 tons of Lithium concentrate 😱. Lithium is in high demand given fast paced move to EVs. In fact a Chinese co is developing a Sodium alternate 👏 - with Sodium being way more abundant than Lithium, this could really help mass adoption by lowering EV prices (batteries make up anywhere between 20-30% of total cost of EVs today) 🤯.
Wait, what is..
National Carrier: or the Flag carrier is a transport or air travel company that is the designated airline national.
Tax Breaks: Think discounts :) Tax breaks are nothing but a reduction in Tax liability. There are apparently three kinds of breaks.
Liability: In business, and specifically in accounting terms, liability typically means an amount you owe someone. Way more complex explanations here.
Woah 😱 Weird 🥴
Unlike last edition, there is no confusion about this week’s news categorisation. The all they way Woah news saw an 8-year old get a fully functional prosthetic arm, made of Lego 😱 - did you know the prosthetics industry is estimated to be > $9 billion?
Inspiring business people to know 🙏
Meet Sarinu Marinu, our inspiring business person of the week.
7-year old Sarinu Marinu, better known as Captain Astronaut 👩🚀 is the foremost explorer on 2184’s Earth. There is no one braver than she. Earth’s emissary, travelling the multi-verse spreading love and kindness, she would otherwise have been an FBI🕵️♀️ agent 😱. In reality, she is an NFT. Living on the Ethereum blockchain.. right here.
Stocks, stonks and.. ⚡️
India gets its first D2C Unicorn 🦄. Fresh meats 🍗 startup, Licious raised $52 million from IIFL Asset Management co, following an earlier $192 million raised in July 2020 🤯. Operating in the farm-to-fork market that is estimated to be $40 billion, they deliver 🛵 over 1 million orders every month.
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!
Lateral Thinking 🤔 - In several previous editions we've spoken of how one can 'logically' approach a problem.. but what if no logic seems to work?! Well.. think Laterally 😆. "Lateral thinking is a manner of solving problems using an indirect and creative approach via reasoning that is not immediately obvious." - Basically next time if no amount of logic works, think different, think Laterally :)Tech, products, toys ++ 🤖
Way more exciting than last week’s hardware launch from Microsoft, is their software launch of all new OS.. Windows 11. Rolled out Oct 5 2021 as a free 🎉update its got a cooler new UI, capability to run Android apps and more 👇
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. 🚀