The secret to BTS’s $ 4 billion stock debut
Shares of Big Hit Entertainment, the management company behind the K-pop group, start trading in South Korea today. The country’s most anticipated initial public offering since 2017 has confused investors, with hundreds of preorders for every share.
What investors are really paying for may not be BTS or its management company, but its ecosystem of followers. BTS fans are known as some of the most devoted in music. In addition to attending concerts, they enthusiastically provide services for the band that range from translating BTS content to managing highly coordinated social media campaigns.
The fan base, which is called the Army, is diverse and transcends criteria of gender, age, religion and nationality. But investors remain concerned about the company’s reliance on BTS, as boy bands typically have a short lifespan.
Details: Big Hit reported a profit of $ 86 million last year and is valued at around $ 4 billion, having raised more than $ 800 million by offering investors around 20% of the company. BTS was the top-grossing tour in the world last year and, according to one estimate, adds more than $ 3.5 billion a year to South Korea’s economy.
Famous Trump fan dies in India
Bussa Krishna worshiped President Trump, praying to a life-size statue of the leader in his backyard every morning. When Mr. Trump tested positive for the coronavirus, Mr. Krishna, a farmer in his thirties, fell into a deep depression and began to starve.
On Sunday, Mr. Krishna died of cardiac arrest and his death made the news across India. (There is no evidence linking his death to the fast.)
Many Indians in big cities dislike Mr. Trump, but he has broad support. A survey in February found 56% believed Mr. Trump would do the right thing when it came to global affairs. Many see Mr. Trumps America First’s stance as a reflection of how Prime Minister Narendra Modi projects himself to his own supporters.
China is preparing for a less welcoming world
When China opened up to foreign investors, the country was in desperate need of foreign technology. Today, as China faces global barriers, its leader, Xi Jinping, calls for greater national innovation.
Xi delivered the message to the southern city of Shenzhen on Wednesday. It was symbolic: since its designation in 1980 as a special economic zone, Shenzhen has been the incubator of reform and openness. Now, Xi is hoping that Shenzhen can be an important hub for high-tech, and can shift the balance by bringing Chinese technology, investment, and power out into the world.
Xi said China would always welcome foreign investment, but he also said its citizens should prepare for increased global tensions. The world has entered a period of turbulence and transformation, he said.
Quote: Much depends on it for Shenzhen to set an example for other cities in China, a professor at the University of Hong Kong said. The importance of Shenzhens to the national psyche is far greater than its mere economic importance.
If you have 6 minutes, it’s worth it
A war for water
Mexican farmers armed with sticks, stones and homemade shields ambushed the soldiers and seized the La Boquilla dam above to stop water payments to the United States. Farmers said the Mexican government was sending water to their water in Texas, leaving them with almost nothing for their crops.
Our journalist looked at the stalemate between Mexican farmers and the president of their country and the neighboring world superpower. The struggle illustrates a growing conflict over increasingly scarce resources due to rising temperatures and prolonged droughts, which have been caused by climate change.
Here is what else is happening
Harassment in India: A new study by Human Rights Watch has found that poor Indian women who work in the informal sector are regularly subjected to sexual harassment and abuse despite a revolutionary law. Ninety-five percent of Indian women are employed in the so-called informal labor sector.
Election in New Zealand: Prime Minister Jacinda Ardern is set to be re-elected this weekend. The Washington Post reported on its worldwide popularity and local challenges.
Ikea idea: The Swedish furniture retailer has launched a global campaign to buy back used furniture as part of its efforts to tackle climate change and discourage excessive consumption.
Former Indonesian General: Prabowo Subianto has been an outcast in international affairs for decades, expelled from the United States by the Bush and Obama administrations for allegations of human rights violations. He is now meeting with senior Pentagon officials as the United States seeks allies against China.
Instantaneous: Above, protesters in Bangkok on Wednesday as the royal procession passed. After months of protests demanding military and monarchy reform, this was the first time members of the Thai royal family had seen the frustration up close. Their Three Finger Salute, from The Hunger Games, has become a symbol of the movement.
What were reading: This Vice article on the growing appeal of not too sweet desserts. I hope this is the future, writes Carole Landry of the Briefings team. Lets oppose sugar bombs.
Now a break from the news
Cook: The James Beards Onion Sandwich is fresh and simple. Rolling the edge of the sandwich in chopped parsley gives it a touch of retro style, but it’s also crucial for the flavor.
Watch: The Netflix documentary Blackpink: Light Up the Sky is a brief but endearing introduction to the idolized K-pop girl group.
To do: Dancing can help prevent falls in people over 65, researchers say. And the more the old people danced, the better.
Let us help you get rid of boredom with our At Home Ideas Collection on what to read, cook, watch and do while staying safe at home.
And now for the Back Story on
A recent case study of a 25-year-old man in the United States who contracted the coronavirus for the second time raised concerns about repeated episodes of the illness. But these cases are very, very rare. Heres What would you like to know.
Reinfection with coronavirus is unusual. Since the first confirmed case of reinfection was reported in Hong Kong on August 24, there have been three published case studies and reports of 20 more awaiting scientific review.
In most people, the immune system works as expected. Reinfections can occur for a number of reasons: because the initial infection was too mild to produce an immune response, for example, or because the immune system was compromised by other health problems. Occasionally, a patient may be exposed to a large amount of the virus that has triggered an infection before the immune response can take effect.
This variability is fully expected, and it has been observed in patients with diseases like measles and malaria, experts said.
A resurgence of symptoms does not prove reinfection. For every confirmed case of re-infection, there are dozens of anecdotal reports of infected people who were ill and apparently recovered but then became ill again weeks or months later. Usually, crucial data is missing in these cases, such as a confirmed laboratory diagnosis or a virus sample that can be sequenced. It is unlikely that a large majority of these cases are true infections. More likely, these are people who experience a resurgence of symptoms related to the original infection.
That’s it for this briefing. See you next time.
To Theodore Kim and Jahaan Singh for the news break. You can reach the team at [email protected]
Listened to The Daily. Our final episode is about the confirmation hearing of Judge Amy Coney Barrett.
Here are our mini crosswords and a hint: drops on the floor? (three letters). You can find all of our puzzles here.
Our editor-in-chief Dean Baquet published a memo in support of The Times Magazines 1619 project.
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
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