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June 23rd, 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 June 23rd, 2021

Dear readers,

Happy Wednesday! Not only was Sunday Father's Day but also the summer solstice and the first official day of summer. I have fond memories of the solstice. As a kid, the rule was, you can stay up until the sun goes down.

Naturally, this became the best day of the year. I only wish I had used those extra hours to study HTML rather than play outside, 20/20 hindsight I guess... Let's get into it!

  • NYC mayoral race
  • Cruises sail again
  • Should Jeff eat the Mona Lisa?
  • Happy Prime Day!
  • Oliver Charles update
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Ranking the mayors of NYC

Yesterday was the final day to vote for the next democratic candidate for the mayor of New York City. Since the city is predominantly democrat-leaning, the winner of the primary is almost always the next mayor. This year marks the first election in NYC with what's being called, "ranked choice voting". Ranked choice voting is a system where voters rank candidates from favorite to least favorite.

Talking Points:

How does ranked choice voting work?

If someone gets 50% plus one after all the first-choice votes are counted, then the election is over and that candidate wins. But if no one gets 50% plus one, it's on to Round 2 of voting. The person with the lowest number of first-place votes is eliminated, and that candidate's voters' second choices get redistributed as votes for other candidates. This reallocation of votes goes on until someone reaches 50% plus one. New York City is by far the largest jurisdiction to implement ranked choice voting.

Some of the benefits of this voting system mean that the winner would have to have a majority of support, it rewards nonpolarizing candidates and encourages friendlier campaigning.

The eight leading democratic candidates are Eric Adams, Shaun Donovan, Kathryn Garcia, Raymond J. McGuire, Dianne Morales, Scott M. Stringer, Maya Wiley, and, until recently, Andrew Yang (who dropped out of the race last night).

Ranked choice explained >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Cruise ships are back!

Who doesn't want to hop onto a giant floating toilet packed to gills with all you can eat buffets and a history of spreading diseases? Last week a Federal Judge in Florida said cruise ships could set sail for the first time since the pandemic crippled the industry.

Talking Points:

On Monday, the Royal Caribbean’s Freedom of the Seas departed Miami for the first time in 15 months.

The maiden voyage is just a 2-day trial run with the crew and their families on board.

Last week, Royal Caribbean delayed a cruise from Fort Lauderdale scheduled for July 3 after eight crew members tested positive for Covid-19.

The world's largest cruise company, Carnival, lost a total of $10.2 billion due to the pandemic.

During the first-quarter earnings call, Carnival's CEO said they had the liquidity to stay afloat (ha!) for another year even if there was no cruising.

Read more >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Yes, Jeff Bezos should eat the Mona Lisa

Last week a bizarre petition started making its rounds on the internet. It called for Jeff Bezos to buy and eat the Mona Lisa.

Talking Points:

Since it was painted by Leonardo da Vinci in the early 1500s, it's been stolen, copied, and had a teacup thrown at it, but it has yet to be eaten.

Jeff Bezos eating the Mona Lisa started as a joke by a few friends living in Maryland after spending the evening drinking at Applebee's.

Sophie Grange, the deputy director of communication at the Louvre, said, “we have seen the petition but the Musée du Louvre will not comment.”

The estimated value of the Mona Lisa is between $850M and $60B. Neither sum would put much of a dent in Jeff's $200B fortune.

Legally, if he bought it, he could eat the painting. Whether or not he'd be able to stomach it is another question.

At the time of writing, the petition had more than 13k signatures.

The petition going vial sparked a headline by the NYTs calling the whole thing its own form of performance art.

Read the full story >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Happy day after Prime Day

Over the last two days, consumers all over the world celebrated Prime Day, a holiday invented by Amazon in order to make up for a slow down in retail sales during this time of the year.

I can't wait until Oliver Charles is big enough to invent a holiday. Get ready for Sweater Day 2040! Mark your calendars now.

Talking Points:

Prime Day was initially launched in 2015 to mark the company's 20th anniversary.

In 2020, Prime Day sales reached an estimated $10.4 billion worldwide, making it the most successful shopping occasion in Amazon history.

The number of Prime members in the US is more than 150M people (almost half the population). Members on average spend $1,400/yr on amazon.

For this year's Prime Day event, about one-third of U.S. consumers were expecting to take part in the sales.

Read the history of Prime Day >>
OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Summer is officially here!

This means the sun will shine long after your working day ends, leaving time for late afternoon adventures. So grab your Oliver Charles sweater and get out there, turn over some rocks, find some bugs, and enjoy the long warm summer nights while you can. Me personally... I like to use the extra time in the mornings. I wake up around 4:30am and raise the blinds so the sunrise can fill my room with light as I spend the next 4 hours scrolling through Twitter. Few understand how important this is. 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!

@whitepeoplehumor
@trashcanpaul
@oliver.charles.clothing

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