- Winner: Finance. Nearly half of new American billionaires work in the financial sector, often at hedge funds.
- Loser: Snapchat. The platform has hit a roadblock in Asia, where it faces a steep challenge from homegrown alternatives including Korean app Snow.
- Winner: Ben & Jerry's. By investing heavily in product-focused Instagram posts, the brand has generated impressive engagement.
- Winner: Google Maps, which just added its first underwater images of the world's oceans: https://www.google.com/maps/about/behind-the-scenes/streetview/treks/oceans/.
Winners: 2016's Tech Billionaires
Chart source: Statista
Chart above shows the net worth and main source of wealth of the ten richest tech billionaires in the world. While individuals associated with U.S. companies dominate, Chinese e-commerce giant Alibaba and its executive chairman Jack Ma (net worth of almost 26 billion dollars) ranks eighth and ninth is Tencent CEO, Ma Huateng with 22 billion dollars.
Transcript of video above via YouTube:
0:02 A winner: finance.
0:03 The complexion of wealth in the US has changed dramatically over the last two decades.
0:06 More billionaires are earning their money versus inheriting it.
0:09 That's a nice fact, but that isn't necessarily a victory for entrepreneurship.
0:13 Almost half the growth in the billionaire class comes from the financial sector, compared with 14% in Europe.
0:19 How do you become a billionaire in America?
0:21 If you don't start the next Facebook, you need to work at a hedge fund.
0:25 Over 80% of hedge fund billionaires are American.
0:27 It's easy to hate hedge fund managers. I work with a lot of them, and I find they're just like you and me -
0:33 just smarter and harder working.
0:35 Who can you hate? Congressmen and senators.
0:37 In exchange for a few thousand bucks, they continue to give these guys carried interest tax deduction, which is immoral and plain stupid.
0:46 A loser: Snapchat. You don't hear that often.
0:48 The brand's quest for global domination has met a roadblock in Asia, where American social platforms face major challenges from homegrown alternatives.
0:57 Korean app Snow has similar functionality to Snapchat but targets Asian users
1:01 with filters including bottles of soju and fried chicken.
1:05 Snow's popularity in Asia underscores a new reality for American app makers:
1:09 popularity in the US does not guarantee success overseas.
1:14 A winner: Ben & Jerry's, whose oversized investment in Instagram is paying off.
1:18 Ben & Jerry's accounts for 4% of posts but generates 38% of interactions.
1:23 The lesson here?
1:24 Consumers want to see the product they love. Keep it simple.
1:28 Following the success of the brand's Bernie's Yearning flavor, we're campaigning for a new flavor.
1:32 My personal favorite: Guatemalan Syphilis ExperiMINT.
1:38 What's the greatest concentration of IQ in history? NASA? The Manhattan Project?
1:41 No, it's Google.
1:42 Now that the search engine has made the world's surface visible with Street View,
1:47 Google is setting its sights on the other 70% of the planet.
1:51 Maps just added its first underwater images, letting users explore the depths of the oceans.
1:57 We leave you with video on how some of those maps were made.
2:00 We'll see you next week.
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