Happy Friday Flux fam!

It's the first day of October - but the last day of our Flux daily quiz... for this week. $100 Bunnings voucher is on the line to spruce up ya home office.

Good luck!

Here's everything you need to know today - in under 3 minutes.

Today's big stories: 

🤑 Junkee could be bought by Rolling Stone's parent company

🚨 The US Government will run out money in days

☕️ A world coffee shortage is on the horizon

Oh and get this...

In the latest instalment of the ego wars, Elon Musk has surpassed Jeff Bezos to become the world's richest man once again. And like the mature adult he is, the Tesla CEO plans on sending ol' mate Bezos a silver medal, and a massive number 2 statue. Huge, if true.

Home of the infamous bachie recaps, Junkee, could be sold to Rolling Stone mag's parent company

Background: Junkee is an online news and pop culture site that's aimed at young Aussies. It covers everything from pop culture  (hilarious - Bachie recaps) to politics.

What happened: The owner of Junkee (and its sister site - Punkee) Ooh!Media are looking to sell the company, and there are some pretty hot contenders.

What else: Rolling Stone and Variety publisher The Brag Media is currently doing its due diligence on the company...and they reckon Junkee's 1 million-strong social is veeeryy veeeryy attractive.

So what's the key learning?

💡The business model of traditional media publishers has shifted over the last 10 years. 

💡The old school media model is to generate revenue from advertising (think: banner ads, advertorials and classifieds). But the new-age publishers have developed successful subscription models (hello paywalls if you don't have a subscription). The recurring revenue from a subscription is a much more appealing model.

💡Junkee ain’t got a subscription model… but what it lacks in subscription revenue.. it kinda makes up for with its huge social media following. And this makes it attractive to a company like The Brag Media.

The US Government needs to raise the roof (the debt roof)

Background: Imagine waking up in 2021 with this news: JLo got back together with Ben Affleck, COVID is still plaguing our lives and the US Government is about to run outta cash. 

What happened: The US Government has been spending around US$50 billion a day for the last year. And it has a national debt now stands at $28.43 trillion. It's kinda hard to even conceive.. but it feels like a lot. Now, US Treasury Secretary Janet Yellen has warned that the Government will literally run out of money by October 18 - if something doesn't change.

What else: Now, US Treasury Secretary Janet Yellen has warned that the Government will literally run out of money by October 18 - if something doesn't change. And if it's not resolved, it could have massive repercussions for the global economy. 

So what's the key learning?

💡Just like our credit cards have limits, the US Government also has limits to its debts. That debt limit is called the debt ceiling.  

💡The debt ceiling is a limit on the national debt that can be incurred by the U.S. Since it was introduced back in 1917, this 'limit' been raised 78 times. 
💡So why don't they just raise it now? Well, they probably will.. But for now - it’s become a political game between Joe Biden's Democrats and the Republican party... a game with real-life consequences.

Bad news caffeine fiends, your morning hit is about to get alot more expensive

Background: If you thought coffee had been particularly pricey this year, you're not imagining it. The price of coffee around the world has surged nearly 22% in 2021 alone to $3.65 a kilogram. 

What happened: Brazil is the world's largest coffee producer, and accounts for around half of the world's supply. But severe droughts and severe frost have destroyed around 20% of Brazil's coffee plants. Whaaaat?!

What else: This, coupled with global supply chain issues (TY COVID), could cause a world. wide. coffee. shortage. And coffee growers are telling importers this shortage could last three years. YIKES. 

So what's the key learning?

💡When the price of raw materials increases, eventually, we as end consumers of the product will likely wear that cost. 

💡Think about it: if manufacturers need to pay more money to access the raw material (coffee beans) - then they're going to jack up the price of that product to make up for it. 

💡And this price-increase travels along the supply chain all the way to your local barista. Ultimately, it is us, the caffeinated folk who end up paying more for the product. So get ready to fork out a little extra for your morning cuppa.