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Here's everything you need to know today - in under 5 minutes.

Today's big stories:

📚 Booktopia has launched an eBook subscription

👾 Microsoft is entering the metaverse

🏎 BMW earnings are up, but car deliveries still down

Oh and get this...

Aussie men's retailer M.J Bale has become the country's first fashion brand to be certified by the Federal Government as carbon neutral. We're talkin the world's first carbon neutral wool farms. Gotta like that!

Invest in some reading glasses 'cos Booktopia's launched a new eBook subscription

Background: Booktopia is an Aussie online bookstore that was founded back in 2004. They've got around 5 million customers, and they turn over around $165 million each year. N2b for a humble bookstore.

What happened: In 2020, the company launched a joint venture with Canadian company Rakuten Kobo. The pair created a co-branded app, and users can buy eBooks and downloadable audiobooks.

What else: Now, they're extending this partnership by launching an eBook subscription service. We're talking 500,000 eBook titles for a monthly fee.

So what's the key learning?

💡E-commerce companies are shifting from a pay-per-transaction model...to a monthly subscription model.

💡By 2023, 75% of businesses that sell direct to consumers are expected to offer some kind of subscription product. And why, you ask? Well, 'cos subscriptions are good for businesses (because businesses can rely on recurring revenue) and good for customers (because customers can count on straightforward pricing and better value).

💡Booktopia aren't the first company to do this. Ol' mate Jeffy B launched a subscription model with Amazon's Prime membership. The only challenge now is tracking all your 1,430,582 subscriptions.

Got room for one more? Microsoft enters the Metaverse

Background: Facebook (aka Meta) has been all about the 'metaverse' lately. Ya know, the next version of the internet that has lots of 3D virtual spaces and augmented reality features. The idea is that people can feel like they're in the same space...even if they're not.

What happened: Microsoft have been quietly doing their own metaverse exploration for a 'lil while now. In 2015, they created a VR headset called HoloLens...and in 2017, they acquired a VR social network called AltspaceVR.

What else: Now, the company have revealed their next foray into the metaverse: Mesh for Teams. It consists of 3D avatars that people can use instead of their real selves for Teams meetings (i.e. you can officially stay in your PJs all day long).

So what's the key learning?

💡The future is meta, and the battle for your digital avatar is only just beginning. Facebook recently rebranded to 'Meta' to reflect its focus on the metaverse. Could Microsoft become Metasoft? You heard it here first.

💡The first battleground for the metaverse is the workplace. The idea is that the metaverse will foster collaboration and make remote working a lot easier.

💡Meta has around 7 million paying users of their workplace communications...and then they have billions of users across their other platforms. Microsoft on the other hand have 250 million Teams users to kick off their plans. Choose your player wisely.

It pays to have friends in high places...just ask BMW

Background: BMW are the German luxury carmaker that was founded all the way back in 1916. Fun fact for ya, this crew actually started out manufacturing engines for planes...but turned to cars after World War I.

What happened: Like most carmakers, BMW has been facing some supply chain shortages of those pesky little microchips (aka the key ingredient in most modern cars' computer systems). But despite tough conditions...BMW reported net profits of $4.4 billion for the three months to September 30.

What else: Things are peachy, no? Well...while earnings were tip top, BMW still saw deliveries fall 12.2%. Compared to Volkswagen's 24% decline, it's not bad....but it still ain't good.  

So what's the key learning?

💡With the supply of new cars looking pretty dry, used cars have come in vogue. That's 'cos the desperation for a car has meant people are settling for a second-hand model...which is actually pushing the cost of these models through the roof.

💡As of September, the average cost of a used car is more than US$25,000. And it's all because chip shortage + factory shutdown (TY COVID) = new car shortage.

💡And we're seeing a knock-on effect to leasing businesses, too. In fact, Aussie vehicle leasing company Eclipx saw its annual profit soar as customers extended current leases to avoid having to buy a new car. And they got more bang for their buck once those leases were up due to higher used car prices.