Flinging Rockets, Zooming IPOs
Edition 33
Dobroho Ranku (dob-ro-ho-raan-ku).. or good morning as they say in Ukrainian. 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 💼
So much for the metaverse 🌌, Meta! Facebook, Whatsapp and Occulus owner Meta is making moves in the physical world 🤷.. and might soon have retail stores popping up all around the world. Idea is for them to show latest devices, inventions of Meta Reality Labs that will ‘plug’ you into the metaverse.
China’s 🇨🇳 Black Friday equivalent, Double 11 or 11.11 day, also known as Singles Day saw people buying iPhones worth $15 million in 2 seconds. Together with Alibaba, they made sales of $139 billion in just ONE day. JD’s share was $54.6 billion, 28% higher than the 2020 event.
The first ever USB-C iPhone sells for $86k! Student Kenn Pillonel replaced the lightening port in an iPhone X with a USB port (genius 🤯) and put his creation for sale on eBay, and bids started coming in even before the sun came up. The first bid was $1 🤷, however, it zoomed to $3,000 at the end of the day.. quickly climbing to the ten thousands and 116 bids later, sold for $86,001 👏.
Elon Musk on the other hand sold $6.9 billion worth of Tesla stocks after a Twitter poll, asking whether he should sell 10% of his stocks 😅. 57.9% of the poll participants said yes, so that is exactly what he did. He will need to sell another $10bn more to hit 10%, and will still hold $180 billion worth of stock.
Tim Cook says he owns cryptocurrency, but India's banking regulators says you probably shouldn't! The Apple CEO stated that “I think it’s reasonable to own it as part of a diversified portfolio”. While Reserve Bank of India Governor Shaktikanta Das sounded the alarm and said “Cryptocurrencies are a very serious concern from a macro economic and financial stability point of view”. The Indian government is thinking of putting severe limits on the use of cryptocurrencies in the larger public interest.
Wait, what is..
Central Bank: The Central Bank or Reserve Bank of a country is the main (and only) financial institution that decides rules and regulations that govern the production 💰 and distribution 💸 of money.
Central Bank Governor: The main person appointed by the Government to lead the policies of the Central Bank.
Woah 😱 Weird 🥴?
A new rocket launch system startup called SpinLaunch that raised $110 million has created a whole new way to ‘fling’ a rocket 🚀 to space 😱. Watch this concept video to see how it will eventually work and watch this to see their first successful test launch at 1/3rd the scale. Not needing heavy fuel tankers, these rockets can have way more storage for satellites; making them one of the cheapest launch systems. 👏
Inspiring business people to know 🙏
Meet Falguni Nayar, our inspiring business person of the week.
Ms Nayar is the Founder of Indian cosmetics e-commerce startup Nykaa and is India’s newest self made billionaire, after taking her 8 year old startup to IPO 🚀. She started Nykaa at the age of 50 and is only one of two self made women billionaires in India 🙇with an estimated net worth of $6.5 billion 😱.
Stocks, stonks and.. ⚡️
Rivian, the Amazon funded EV SUV maker, debuted on the stock market with a $90 billion valuation, making it the second most valuable auto maker 😱. And to think it has only sold 150 vehicles till now 😅 while no. 3 auto co GM sold 6.8 million 🤯. Discuss with Mom, Dad or a big person how this can be.
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!
The Paint Your Dreams Model. Another one inspired by Van Gogh who said "I dream of painting, then I paint my dream".
Looking at all these companies and founders making mega sized companies, makes one wonder how did they do it? Well they probably first dreamt it, and then 'painted', aka created, their dream.
So go on.. dream. And go on and create that dream. #creatorTech, products, toys ++ 🤖
Could this be the Apple car 😱👇🚙.
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.
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