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The New Yak Times
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May 26th, 2021

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

Subscribe below for weekly updates on the absurdity of the business and financial world. We spend all day on social media so you don't have to.

It's May 26th, 2021.

Dear Readers,

Today is a special Wednesday because early this morning around is 1:45 am PDT, a total lunar eclipse occurred. I of course was sound asleep, but I had my virtual assistant stay up to view it, then write me a summary email of the astrological event.

Let me tell you, it was quite spectacular...

Let's get into it!

This week's top stories include:

  • Correction or crash
  • Almond milk is sooo 2019
  • Summer in Europe
  • How much to go to Space?
  • Oliver Charles update
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

Did the bubble pop or just deflate?

Last week the crypto markets began to nosedive. It all started when the self-proclaimed king of crypto (Elon Musk) said Tesla would no longer accept Bitcoin, citing environmental concerns. Then the Chinese government stepped in and said it was cracking down on digital currencies, and the sell-off began.

Talking Points:

The crash wiped out about $1 trillion in market value.

Bitcoin, which accounts for more than 40% of the global crypto market, nosedived 30% to $30,000 on Wednesday, its lowest point since January.

Other cryptocurrencies also tanked: Ethereum fell more than 40%, while Dogecoin and Binance lost around 30%

In part, the extreme drop was caused by traders taking excessive risks. Traders have levered up as much as 100:1 and were forced to sell as prices fell. Causing a negative feedback loop until an equilibrium was reached.

More about leverage and crypto >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

Oatly IPO'd with a $13B market cap

I feel like oat milk really came out of nowhere. Quite frankly, I was still coping with the existence of almond milk, then boom there's whole new milk. It's everywhere - only something like 2% of the people I know are still drinking actual cow's milk. I'm half and half on whether or not I should get into oat milk. How long before a newer milk hits the market? Even if there's a 1% chance of that happening, I'd hate to just skim the surface before feeling obligated to jump over to the next thing.

Talking Points:

Oatly's (OTLY) shares soared 18% on the first day of trading.

The shares were initially priced at $17 but opened at $22.12. At the time of writing this, the share price is about the same.

In 2020, Oatly’s revenue more than doubled, reaching $421.4 million.

Oatly hopes to eventually overtake almond milk as the leader of dairy substitutes pack.

Remember their uncomfortable Super Bowl ad?

Watch the ad here >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

Europe is open for business

As long as you're vaccinated, of course. On Wednesday the head of the EU announced that it would be opening its borders to vaccinated Americans and other non-Europeans.

Talking Points:

Officials in the US and EU are discussing the use of "Vaccine Passports" that will allow people to freely travel between the 27 member states.

The return of visitors to Europe’s beaches and tourist sites would bring a desperately needed financial boost for many countries.

Europe is the world's leading tourist destination. In 2019, 745 Million people visited Europe nearly half of all global tourism.

The tourism industry accounts for 10% of the EU's GDP

More about the announcement >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

How much is a ticket to Space?

Jeff Bezos owned space company, Blue Origin, is finally ready to take people into space. Last Wednesday the company opened up public bidding for the first seat on their reusable rocket New Shepard. At the time of writing this, the leading bid is $2.8M dollars.

Talking Points:

On July 20th, New Shepard will fly its first astronaut crew to space.

The entire trip will last about 10 mins taking crew members 100km above sea level into low earth orbit and provide about 3 mins of zero gravity.

The rocket powering New Shepard was the first reusable rocket to successfully make a soft landing on the ground, beating out the more famous SpaceX Falcon 9 booster by several weeks.

New Shepard is named after NASA Mercury program astronaut Alan Shepard who was the first American to fly in space in 1961.

Place your bid >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

The Office > MBA

It seems like everyone is talking about returning to the office.

Meanwhile, all I want is for The Office to return to a streaming service I already pay for. In all my years in business, I've run through many mentors and coaches, and at the end of the day I always end up asking myself, "what would Michael Scott do?"

I bet he'd do something like put a golden ticket in one of our outgoing sweater packages... I won't confirm nor deny that's what we are doing, there's only one way to find out.

That's my update for the week. I hope you've enjoyed this week's installment of The New Yak Times.

Until next time, keep building 🎁.

Best, Tobias
CMO @ Oliver Charles
Connect with me on Linkedin

--

Sent from my iPhone

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@oliver.charles.clothing

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