Dalai Lama & Doge 🚀
This Week in Review☕️ : The Nerds worth 100bn | Monumental Monet goes under hammer | The New GeoPolitical Battle | Maldives submerged | Work from the Caribbean | The Greatest Asset Class | Fashion of
💡Quick Bites:
Finance📈 : Coinbase made history last week as the 1st major crypto exchange to go public. The stock ended the day at $328.28, valuing the company at $85.8bn, Bloomberg reports.
Coinbase is now worth more than Goldman Sachs who called Bitcoin "not an asset class" last year lmao
Like any great story, the "Beginnings were not glamorous" as claimed by co-founder Fred Ehrsam.
A small company that started out 12 years ago when "a Bitcoin was worth $6 and only known by a few nerds on the internet" is now worth almost a $100bn.
Damn, we love the Internet 🚀
Also, doesn't make sense that Coinbase is currently worth more than the NYSE and Nasdaq combined?
That would be similar to if Tesla was worth more than the combined market caps of Ford, General Motors, BMW, Ferrari, and Volkswagen.. Oh wait
As Coinbase made its public debut, cryptocurrency Dogecoin hit an all-time high. Boosted by the likes of Mark Cuban and Elon Musk, $DOGE rallied a whopping 180% last Friday. It’s now up 18,000% from a year ago.
Dogecoin Market Cap:
💡2020: $250mn
💡2021: $48bn.
#DogecoinToTheMoon trending
💡What to watch out for next:
In the US, Digital currency lending startup BlockFi and rival exchange Kraken are the next heavyweights considering going public, per Bloomberg.
WFH 💻 : Work from Home? Nah, Work from the Bahamas!
British banking startup- Revolut, is implementing a flexible remote work policy to attract new talent.
The London-based company announced that its employees will be allowed to work abroad, in any place of their liking, for up to 2 months a year, NY Times reports.
Tbh, if all you need is WiFi and a laptop to work, why not? Seems like the 'Work from Anywhere' genie is out of the bottle and it's not going back in.
After almost an entire year of lockdown, what could be more liberating than being paid to work out of the Backwaters in Kerala or the Coral Reefs in Turks & Caicos?
Our Thoughts💡: Ok, but what happens when our bank account gets locked while we're in the Caribbean & all we have is the £0.50 in our Revolut?!
Can't even order a Rum Punch🍹
Art 🎨 : Sotheby's to auction 'monumental' painting by Monet from his famed Water Lilies collection.
The work titled Le Bassin aux Nymphéas (Water Lilies in english) will hit the block at Sothebys New York on May 12, where it is expected to fetch $40mn.
Thanks, we'll take two.
Key Highlights:
💡Water Lilies is not the name of a single painting but a series of works
💡Monet painted over 250 of these works
💡"These landscapes of water and reflection have become an obsession" -Monet
💡The works depict his flower garden at his home in Giverny, France
💡Along with 'Starry Night' by Vincent van Gogh, the Water Lilies paintings are perhaps the most iconic images of Impressionism in the world
The last work sold by Monet of this caliber was Meules, a landscape scene depicting haystacks, which sold at Sotheby’s in May 2019 for a whopping $110.7mn.(shown below)
If the present work of Water Lilies fetches its high estimate, it will be among the top 10 works by the Impressionist ever to be sold at auction, ARTNews reports.
Culture 🙏 : The US, China and India are trying to influence who will be the next Dalai Lama.
Tenzin Gyatso- the 14th Dalai Lama, currently living in exile in India, turns 86 in July. Choosing his successor is shaping up to be a geopolitical struggle between the three superpowers.
Hmm.. they need to find a new DL on the DL
The General Process of Succession, according to Bloomberg:
💡The Dalai Lama is believed to be a living Buddha who is reincarnated after his death
💡It starts with the search of a child reincarnation
💡If it is a boy, he begins to study to prepare for his role
💡The current Dalai Lama was identified when he was 2 years old
💡The process is known to be lengthy and complex
The US has already released a statement claiming 'China should have no role in Dalai Lama succession process.'
It should be left solely to the Tibetan Buddhist community, without interference from the Chinese government, White House official said.
The CCP be like 👇🏻
Our Thoughts💡: Politics and Faith just don't go guys.. This isn't the Savage challenge on Tiktok.
PS. Why does Beijing have to get involved in everything?!
Climate Change 🌊 : While there is hope that the current vaccination drive will permanently end the pandemic, there is still no magic fix for the fight against Climate Change.
The World's "last best chance" to stop the Climate Crisis is this year.
Cop26- the UN Climate Change summit, will be hosted by Boris Johnson in Glasgow, this November.
Key Agenda of Cop26 :
💡To eliminate carbon emissions by 2050
💡To prevent "dangerous" human interference with the climate
💡To end the use of the most polluting fossil fuel: coal
💡To ensure island states like the Maldives are not submerged by rising seas
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️💡Quicker Bites:
A driverless Tesla crashed in Texas, killing two, Bloomberg reports.
LA Mayor proposes Basic Income Guaranteed Program.
Bitcoin plummets as much as 15% just days after hitting record high.
Prince Philip laid to rest in Royal Vault.
As Biden approaches 100th day in office, Republicans admit difficulties in attacking his agenda.
Australia and New Zealand open quarantine-free travel bubble after over a year of border closures.
J. LO and A-Rod officially call off their engagement.
The Tokyo Olympics is less than 100 days away.
Medics say taking a vaccine does not invalidate Ramadan fasting.
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