The economic and financial changes we’re going through are unprecedented, and trying to keep up with it all is an impossible task. This newsletter presents some of the most important, interesting, and unexpected economic and businesses news of the week based on a set of statistics. This list is compiled by some of the economics and business experts at EvolvEd, who offer lessons in subjects from basic economics to stock picking (to much more).
- $100 million is the size of the licensing deal that Spotify Technology SA made with Joe Rogan, the podcast host. His content will become exclusive on Spotify in the next few months.
- 8% is the amount Spotify stock rose the day after the Wall Street Journal reported on the deal.
- $17 billion is the amount that SoftBank’s Vision Fund lost in the fiscal year ending in March. The Japanese conglomerate reported record losses led by its tech ventures.
- $2.9 billion the value of SoftBank’s shares in WeWork, worth 10% of their peak valuation.
- $75 billion is the estimated value of Bytedance, the company that owns TikTok. Kevin Mayer, a former Disney executive, will become the CEO of TikTok on June 1st.
- 700 million is the number of daily active users on Bytedance apps worldwide.
On EvolvEd you can find experts to teach you the fundamentals of business, economics, stocks and many more topics. Go beyond the headlines by truly understanding what is behind the economics that governs our lives.
- Spotify: https://www.wsj.com/articles/spotify-strikes-exclusive-podcast-deal-with-joe-rogan-11589913814?mod=tech_lead_pos7
- SoftBank: https://www.wsj.com/articles/softbank-posts-9-billion-loss-for-year-hit-by-poor-tech-investments-11589787762?mod=searchresults&page=1&pos=2&mod=article_inline