This is issue #017 of the Talk Money Weekly. To get your mind moving on the topic of money every week, I curate and share trending conversations around money, business, current events, and pop culture from Twitter, my favorite podcasts, and other platforms.
I hope everyone had a good Thanksgiving break!
As we get ready to launch our Season 3 soon, have you checked out the Talk Money Podcast? Here are my three recommendations to learn everything you need to know about Bitcoin!
What's the Deal With Bitcoin- A Foundation
What's the Deal with Bitcoin- Investing & Risk
Does Bitcoin Know Something We Don't?
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📈Markets & Business:
Bitcoin Hits New All-Time High. Don't Sell Too Early!
Bitcoin recently hit a new all-time high. A combination of institutions buying into it, more infrastructure, and the potential store of value/inflation hedge. Now, there are plenty of stories of people who didn’t think much of their Bitcoin back in the day, which would be life-changing now. I originally bought 5 Bitcoin at $195 per Bitcoin years ago. I sold it a few months later for a $100 profit. What a moron! It would’ve been worth $100,000 today. Buy what you understand. Hold onto it.
Is Your Business Idea Any Good?
I really loved this thread. We all come up with new ideas all the time. Sometimes we think it’s the best thing ever, but is it really? Go through this thread, and ask these questions to yourself. I used it to double-check if I’m on the right track with Talk Money. Very educational. My advice is to not think about whether your business is VC worthy, but rather is it worth YOUR time.
Founders of the Biggest Companies Don’t Own A lot of It
It can take a lot of capital to build a billion-dollar company like Airbnb, Doordash, etc. They’ve raised hundreds of millions of dollars from venture capitalists to expand their businesses. It comes at a cost. That cost is ownership. Doordash CEO owns only 4.4% of his business. It's not a lot, so I'm sure he'll be trying to get the highest IPO price possible to make it worth all his time and sacrifice.
But raising from VC is not the only path to success. It’s only really meant for high growth companies. Investor Andrew Wilkinson explains other methods of raising money in this thread.
Salesforce Buys Slack for $27.7B
Slack went public in the summer of 2019, The stock priced at $38.50. A year and a half later, Salesforce has bought the company for around $45 per share. This comes at a time where Microsoft Teams has been eating into Slack’s business, hence the stock price not performing well, prior to the acquisition. This is where a company can become even more valuable with the support of a larger company. Check out Nathan’s post to learn more.
Travis Scott Makes $20M Performing through Fortnite
Although the Pandemic has caused billions of dollars of lost revenue for the venue and touring industries, some artists are finding other ways to make do. Travis Scott had his epic Fortnite concert this past summer. While touring is more travel/physical intensive, virtual concerts probably have a higher profit margin. Although, there is something special about engaging with an audience live in person.
I imagine what we’ll see is fewer stops on a tour, but live streaming the big shows that give access to millions of people. We’ll cover this topic on our Season 3 next month.
Chess Sales Are Up After the Success of Queen’s Gambit
The most-watched show ever on Netflix is Queen’s Gambit, inspiring a surge in chess set sales, chess books, lessons etc. It’s pretty cool how pop culture can have so much influence. It's like how many more people ordered Old Fashioned's after watching Mad Men? Just me? Within 30 days of its release, Queen’s Gambit was streamed in 62 million households. I'm sure we'll see an uptick in female chess players, and hopefully world champions.
That's all for this week! I hope you enjoyed the SEVENTEENTH issue of Talk Money Weekly.
If you haven't already subscribed to my podcast, Talk Money, do so here. Make sure you listen to our latest episode "Black in Business". Stay tuned for our trailer for Season 3 which is going to be pretty amazing. More on that soon.
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