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June 2nd, 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.

June 2nd, 2021

Happy Wednesday or is it Tuesday? Long weekends always confuse me... while I rarely take a break from grinding, I did spend Monday smoking meats because that's what Mark Zuckerberg would do. What would Mark do (WWMD), that's what I always say.

  • Naomi Osaka
  • Exxon reluctantly goes green
  • Hot pockets are bad for you
  • Do you like Friends?
  • Oliver Charles update
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Changing power dynamics of sports

Naomi Osaka is currently the number 2 ranked female tennis player. Last week she caused a bit of a fuss after skipping press conferences following her matches. This caused the tennis big wigs, whoever they are, to serve up (pun intended) a $15k fine, leading her to drop out of the French Open entirely. Demonstrating the power these incredible athletes have over their corporate overlords.

Talking Points:

The young athlete was thrust into international fame after defeating Serena Williams in the 2018 U.S. Open. Osaka was 20 years old at the time.

In a post on Instagram, Osaka explained the decision to drop out, pointing to her social anxiety and the extreme mental toll press conferences took on her.

The message she sent was clear and questioned the traditional norms of sports.

In the last 12 months, Osaka made $55.2 million. That amount is both historic and record-breaking. In fact, according to Sportico, no other female athlete in history has made such a substantial amount of money in just a year.

Read her Instagram post >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Exxon is being forced to go green

A small activist investment fund called Engine No. 1 is taking on Exxon Mobile and forcing them to take climate change seriously. The activist fund, which has a 0.02% stake in Exxon, won 2 board seats at the oil giant’s annual shareholder meeting.

Talking Points:

This is significant for two reasons:

1. The strategy the fund used to win support was focused on showing how investing in a carbon 0 future was actually good for business.

2. The fund is tiny but was still able to win the support of some of the largest financial institutions in the world.

This was seen as a turning point for sustainable activist investors, proving that the path to future profits is through sustainable business practices.

Exxon is currently investing $3 billion in carbon capture and other emissions-cutting technologies.

Engine No. 1 is just six months old and manages around $250 million in assets. Exxon is worth around $250 billion.

If anyone from Exxon or Engine No. 1 happens to be reading this, I would encourage you to invest in small sustainable clothing brands. One, in particular, comes to mind...

Read more >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Nestle foods are unhealthy... shocking

Nestle is easily one of the most hated companies in the world. They have a long history of shady business practices and scandals. In addition to that, it turns out that nearly all of its food products do not meet a "recognized definition of health." International Health Standards are a star rating system, which scores products on a five-star scale. A product must score at least 3.5 stars to be considered healthy.

While the story is making its rounds, it's not really news to anyone that's ever eaten a Hot Pocket.

Talking Points:

Just 37% of its consumer food and beverage products meet international health standards (below 3.5 stars).

CEO Mark Schneider said that the company is making investments in the healthiness of its products, but "confectionary and chocolate address a deep human need and are going to be here to stay."

A serving of Hot Pockets pepperoni pizza packs a whopping 48% of the daily sodium allowance.

Nesquik's strawberry-flavored milk powder has 14g of sugar per 14g serving.

Read more >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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The gang's back together

HBO Max released a much-anticipated reunion of the show Friends. Personally, I've never been a fan of Friends. Never the less, the show is considered to be one of the most successful sitcoms of all time.

Talking Points:

Forbes estimates the comedy generated nearly $1.4 billion in earnings during its broadcast starting 1994 and running for 10 seasons until 2004.

Forbes estimates that the six "Friends" received nearly $816 million in pre-tax earnings, or roughly $136 million each.

The stars' salaries rose from a modest $22,500 per episode fee in the first season to $1 million-a-show in the final two seasons.

It's estimated that in the years after the show aired it generated as much as $4.8 billion through streaming deals and reruns.

HBO Max paid the six actors as much as $5 million to appear during the reunion.

Read more about Friends >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Post Memorial Day Weekend

This Monday was Memorial Day or as my grandmother calls it, "Decoration Day". That's because back in her day, that's what it used to be names. It was a time for folks to decorate the graves of those who died in battle.

I find that name much for fitting because it serves as an actionable reminder of why the holiday exists in the first place.

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

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Meme credit is due to the following accounts. If I missed someone, let me know!

@moinstbuhda
@raddad
@trashcanpaul
@oliver.charles.clothing

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