Business News

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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Bussines Service

12 GOP Candidates Declined to Comment on Accepting Election

  • The Washington Post surveyed 19 of the most competitive races across the country.
  • 12 GOP candidates declined to say whether they would accept the results of the midterm elections.
  • 18 out of 19 Democratic candidates said they would accept the outcomes.

Twelve Republican candidates running for November’s midterms declined to say whether they would accept their election results, according to a survey from The Washington Post. 

The Post surveyed candidates in 19 of the most competitive races across the country, asking: “Will you accept the results of your election?”

Only seven GOP nominees said they would accept the outcomes of their races, while another 12 either refused to commit or didn’t respond.

Out of the 19 Democratic candidates asked, eighteen said they would accept the outcome. Kansas incumbent Gov. Laura Kelly, who is in a tight race against Republican Attorney General Derek Schmidt, was the only

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Finance

A quick and easy guide to investment

Investing is the single most effective way to get rich. By opening an investment account, you have access to the biggest money-making vehicle in the history of the world: the stock market. 

But a lot of you believe you have to do some complex, fancy work to invest… or that you have to have a lot of money to make the most of investing. 

This is not true:

You don’t have to be the smartest person in the room to invest, you don’t have to be a millionaire, and you don’t have to follow the hottest takes and trends. 

And remember this: you likely can’t beat average returns. In relationships and work, we want to be better than average. In investing, average is great. 

So ignore the appeal of these flashy, alluring takes. Average might sound boring and unsexy, but choose being rich over being sexy. When it comes to

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Business Plans

The Best Project Management Software for Startups in 2022

Startups involve a lot of trial and error. Things can get chaotic, and managing the mess can be challenging. Finding the best project management software for startups is essential for building a streamlined structure that enables smoother operations and collaborations.

Key Takeaways:

  • Project management software helps startups grow. Rather than relying on employees to remember every task at hand, it lays everything out for them, enabling them to work more efficiently.
  • The needs for a project management system can vary depending on the industry or startup funding and size. Certain industries are better suited than others for project management software, such as those that rely on agile working practices or need virtual teams from different locations.
  • Project management software doesn’t have to be expensive. There are plenty of free options, so most startups should be able to keep their budgets in check. monday.com, Asana, ClickUp and Freedcamp are among the
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