Day: September 20, 2022

Bussines Service

Read the Memo Forrest Li Sent Employees As Shopee Prepares

  • A 1,000-word internal staff memo outlines Shopee’s 12-18-month plan to achieve self-sufficiency.
  • The company’s executive team will temporarily forgo cash compensation, per the memo.
  • Once the darling of the investment community, Sea does not anticipate being able to raise funds now.

Shopee, the Singapore-based ecommerce giant and one-time investment-community darling, is facing bleak fundraising prospects in the current volatile market — and it appears to be bracing for the worst.

In a 1,000-word memo sent to Shopee employees on September 15, Forrest Li — the billionaire founder, chairman, and CEO of Shopee — outlined drastic cost-cutting measures the company will be taking.

“Our number one objective for the next 12-18 months is achieving self-sufficiency,” Li wrote in the memo. The company will be restricting employee expenses, capping all flights at the economy level, and executives will temporarily forgo compensation, Li wrote in the memo.

Shopee parent

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Finance

It’s Get Smart With Money Day!

Let’s jump right to the real news here:

  • There’s a Netflix documentary that just came out TODAY* called Get Smart With Money
  • Somehow old Mr. Money Mustache and several friends got lured into playing a role in making it. And I’m very happy with the results!
  • And you can watch the results here (which will be a huge help to the movie’s success!): https://www.netflix.com/title/81312877

Now for the real story behind this weird situation. Why did I agree to this? Aren’t I supposed to be retired? Do you get paid a lot to be in a Netflix movie? And does that mean you become “famous” and your life changes? Read on to find these answers and more.

The Origin

One sunny afternoon in December 2020, I got an email from the co-owner of a filmmaking company with this title:

Feature Documentary – personal finance

 Inside was a very well written description

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Business

Videos Show Hurricane Fiona Battering a Powerless Puerto

  • Hurricane Fiona made landfall in Puerto Rico’s southwest coast on Sunday afternoon.
  • Videos from social media show flooding in parts of the island triggered by the fierce storm.
  • Rising global temperatures contribute to more intense storms, according to a growing body of research.

Four people have been killed due to the catastrophic flooding and high-speed winds from Hurricane Fiona.

Hurricane Fiona struck Puerto Rico on Sunday, triggering an island-wide blackout and major flooding. The storm’s landfall coincides with the 5-year mark of 2017’s devastating Hurricane Maria — from which the territory has yet to fully recover.

According to the National Hurricane Center, the Category 1 storm made landfall on Puerto Rico’s southwestern coast, around 3:20 p.m. ET local time on Sunday, with maximum sustained winds of 85 miles per hour.

“The damages that we are seeing are catastrophic,” Puerto Rico Governor Pedro Pierluisi said on

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Business News

High 30 Small Business Ideas For Rookies In 2020

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