Hey hey, Flux fam!

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

Today's big stories

📦 Packaging company Amcor raised prices by $650 million

🦊 Dolce & Gabbana will stop using real fur 

👾 Sony has bought Bungie in a US$3.6 billion deal

Oh and get this...

What were you doing at 17? Two teens have just closed a $2.2 million pre-seed raise, backed by the founders of Zip, Tinder and venture cap firm Blackbird Ventures.

Amcor's prices Am-soar by 650 million buckaroos and that's called cost-push inflation

Background: Amcor is the world's largest consumer packaging company, with humble beginnings in Melbourne back in 1860. Fast-forward to the present day, and the company is worth around US$26 billion, with 225 packaging plants across the globe.

What happened: Not only are they big, they're also kinda expensive. Amcor just implemented $650 million worth of price rises across its global operations in the December half. 

What else: As inflation increases, Amcor has had to pass on rising raw material costs (i.e. resin, PET plastic, aluminium, inks) onto their consumers. 

So what's the key learning?

💡When it comes to inflation, there are two main causes.

💡We've got:

1. Demand-pull inflation: when there's a supply of money which stimulates demand for spending.
2. Cost-push inflation: when there is an increase in the price of raw materials, which leads to higher costs for end-products.

💡In order for companies like Amcor to maintain profit levels and keep up with expected demand, they need to increase their prices. Eventually, Amcor's customers could pass on rising costs to us. No thanks!

Dolce & Gabbana pinky swear to never use fur again and cue the influx of new customers

Background: Dolce & Gabbana is an Italian luxury fashion house founded back in 1985. And since, well, forever, D&G have been using animal fur in their designs. 

What happened: In this day and age, fur ain't it. Ya know...it causes the suffering and death of millions of animals each year? So now, D&G have pledged to ditch the fur.

What else: D&G have said they'll replace real fur with a new faux fur that meets guidelines set by animal protection organisations like PETA.

So what's the key learning?

💡The push to appeal to younger consumers is real, and it's often driving companies to act in ethical and environmental ways. 

💡Tonnes of high-end brands that have relied on fur in the past, like Chanel, Prada, Burberry and now D&G have been making fur-free pledges to show their support for animal rights. And it's in large part due to the push from young customers. 

💡Remember when 20-year-old Billie Eilish got Oscar de la Renta to stop producing fur in exchange for wearing one of his gowns to the Met Gala? So, it ain't just a sustainable move...it's also a really savvy marketing move to attract fresh faces.

Sony snags Destiny lords Bungie for US$3.6 billion so take that, Microsoft

Background: Sony is the world's largest manufacturer of electronic products. They're also the world's largest video game console company (PlayStation, anyone?)

What happened: Now, they've just bought Bungie - the US video game developers behind blockbuster games like Halo and Destiny - for a whopping US$3.6 billion.

What else: It comes hot off the heels of Microsoft's Activision acquisition for US$69 billion. And it ain't no secret these big moves are reshaping the gaming industry.

So what's the key learning?

💡In each industry, we see a similar lifecycle made up of different phases. The gaming industry is currently in its third phase of an industry lifecycle: the consolidation phase.

💡Entertainment companies are facing growing pressure to secure strong content. And, with interest rates so low, it costs less to fund big buyouts. 

💡So, with big companies currently cashed up...they're out there buying the biggest names in the biz to increase their offering to customers. And this'll no doubt bring Sony some juicy returns.