Get smarter than your boss in 3 minutes with today's business news.
🌳 The RBA warns climate investors won't want a bar of Australia
🧘♀️ Mindbody acquires ClassPass in an all-stock deal
🎭 Fox launches an NFT collection tied to The Masked Singer
Happy Friday Flux fam!
It's the FINAL day of the Flux daily quiz! Are you feelin' lucky?! Remember, the winner gets a $100 Airbnb voucher.
Good luck!
Here's everything you need to know today - in under 3 minutes.
🌳 The RBA warns climate investors won't want a bar of Australia
🧘♀️ Mindbody acquires ClassPass in an all-stock deal
🎭 Fox launches an NFT collection tied to The Masked Singer
William Shatner spent a lotta time pretending to be in space as Captain Kirk on Star Trek. And now, at the ripe ol' age of 90, the actor has finally, actually gone to space. He took a trip on Jeff Bezos' rocket, making him the oldest person in history to visit space.
We're dropping exclusive content every week to help you whip your credit score into shape - and smash your financial goals.
Background: The Reserve Bank of Australia (or the RBA for short) has warned ScoMo and the Government that climate-conscious investors could start divesting from Australia if we don't settle on a net-zero emissions policy soon.
What happened: Net-zero means that the emissions of greenhouse gases (the bad stuff, like carbon dioxide) are neutralised by what our trees are absorbing.
What else: In order to be net-zero, we need to significantly reduce our emissions so our trees can keep up. In the UK, Canada, the US and Japan (and more), the goal is to be net-zero by 2050. But Australia's goals are well behind.
💡The tide is turning on large companies, as they start to recognise their climate responsibilities...where the government might not be.
💡So far, a dozen or so leading Aussie companies are expected to introduce new non-binding shareholder votes on their climate reporting.
💡CommBank just became the first major bank to consider the a climate vote for its annual meeting in 2022. Already, a Swedish bank discontinued its investment in Queensland and WA State Government debt. And there could be more on the horizon if we don’t get a boogie on.
Background: Mindbody is the quiet achiever. It's a platform that runs the booking system for gyms, fitness studios and even beauty salons. All the cool kids are using it (think: F45, KX Pilates and many of your locals).
What happened: ClassPass is a fitness app that gives you access to different gym classes. So, instead of going to one gym...never, you get to go to heaps of gyms (also...maybe...never?).
What else: Now, Mindbody has acquired ClassPass in an all-stock deal. So businesses using ClassPass could come on as Mindbody customers too.
💡An all-stock deal is when the buyers (i.e. Mindbody) give the sellers (i.e. ClassPass) stocks in their company as payment.
💡All-stock deals are normally done for two reasons:
💡It's the opposite of an all-cash deal, where acquiring companies pay the sellers in cash only...'cos they got fat stacks lying around.
Background: Fox is the broadcast company in the US founded by Aussie billionaire Rupert Murdoch. It's the home of Family Guy, The Simpsons, Hell's Kitchen and, of course, The Masked Singer.
What happened: And in a surprising twist, Fox is getting into crypto. They're launching an NFT collection/game that's tied to The Masked Singer. First, they'll launch a free NFT called Miss Masky (v original). Fans can then buy packs of NFTs to build collections.
What else: And Fox will also add a game where players can vote on what will happen to contestants in the show. Whoever gets it right will get the opportunity to buy even rarer NFT packs. Things are gettin' real weird around here.
💡This is a classic case of 'community marketing'. Where traditional advertising and PR focuses on acquiring new customers, community marketing is about connecting and engaging existing customers.
💡Research shows that 70% of people are willing to spend more for a product if it comes with a lil bit extra...like good service - or an awesome connection.
💡 Community marketing has already taken over the NFT world, with little communities centred around tokens popping up everywhere. Is this peak crypto-mania?
Sign up for Flux and join 100,000 members of the Flux family