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Netflix buys Roald Dahl catalog

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Gene Wilder as Willy Wonka and Peter Ostrum as Charlie Bucket on the set of the fantasy film ‘Willy Wonka & the Chocolate Factory.’

Silver Screen Collection | Getty Images

LONDON — Netflix has acquired the entire catalog of Roald Dahl, the beloved children’s author known for works including “Charlie and the Chocolate Factory” and “Matilda.”

The U.S. streaming giant announced Wednesday it has bought the Roald Dahl Story Company, which manages the rights to the British novelist’s characters and stories. Financial terms of the deal were not disclosed.

“Excited to announce that the Roald Dahl Story Company (RDSC) and Netflix are joining forces to bring some of the world’s most loved stories to current and future fans in creative new ways,” Netflix said in a tweet, which featured a chocolate bar being unwrapped to reveal a golden ticket, in reference to the book “Charlie and the Chocolate Factory.”

It comes three years after Netflix signed a deal to create a slate of new animated productions based on the works of Dahl, including “Charlie and the Chocolate Factory,” “Matilda” and “The BFG.”

Several of Dahl’s works have already been adapted into movies that received global acclaim, from 1971’s “Willy Wonka and the Chocolate Factory” starring Gene Wilder to 2009’s “Fantastic Mr. Fox.” “Charlie and the Chocolate Factory,” a remake of the classic film starring Johnny Depp, was a huge box office success, grossing $475 million.

Netflix, which had already been working on a series based on “Charlie and the Chocolate Factory” and an adaptation of “Matilda The Musical,” said “these projects opened our eyes to a much more ambitious venture — the creation of a unique universe across animated and live action.”

“Roald Dahl’s books have been translated into 63 languages and sold more than 300 million copies worldwide, with characters like Matilda, The BFG, Fantastic Mr. Fox, Willy Wonka and The Twits delighting generations of children and adults,” Netflix said in a statement Wednesday. “These stories and their messages of the power and possibility of young people have never felt more pertinent.”

“As we bring these timeless tales to more audiences in new formats, we’re committed to maintaining their unique spirit and their universal themes of surprise and kindness, while also sprinkling some fresh magic to the mix.”

It marks one of the biggest content grabs for Netflix, which has been investing heavily into original content and intellectual property in a bid to maintain its lead over legacy media companies.

Disney has proven a formidable competitor to Netflix, with 116 million people now subscribed to its Disney+ streaming service. Netflix remains the largest player, with over 209 million paid members globally.

While Dahl is one of Britain’s most celebrated authors, his works have come to be viewed in a different light more recently amid concerns over his anti-Semitic views. Dahl has also been criticized for misogynistic and racist portrayals of some of his characters.

In 2018, the U.K.’s Royal Mint rejected plans to celebrate the life of Dahl with a commemorative coin due to his association with anti-Semitism.

Last year, the Roald Dahl Story Company issued an apology over the writer’s history of anti-Semitic statements.

“Those prejudiced remarks are incomprehensible to us and stand in marked contrast to the man we knew and to the values at the heart of Roald Dahl’s stories, which have positively impacted young people for generations,” the company said at the time.

“We hope that, just as he did at his best, at his absolute worst, Roald Dahl can help remind us of the lasting impact of words.”

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Elon Musk reposted 28-year-old’s meme, it sold as an NFT for $20,000

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It’s no secret that billionaire Elon Musk loves memes. He frequently reposts them on Twitter, where he has 61 million followers.

Though some dislike his reposting, as he often neglects to give the original meme creators credit, others have profited from Musk’s practice, including self-proclaimed “hobby artist” Eva Beylin.

Beylin was thrilled when Musk reposted her meme on Wednesday. “The ultimate prize of memeology is for the ultimate meme lord to use your meme,” Beylin, 28, tells CNBC Make It.

Even though Musk didn’t give her any attribution, “I am over the moon,” she says, adding that she’s a big fan of Musk.

Beylin’s meme, which she named “Love in The Time of Web3,” depicts a cartoon couple admiring the prices of bitcoin and ether, which are $69,000 and $4,200, respectively, in the meme. While the price of bitcoin hasn’t hit $69,000, the numbers are an obvious nod to meme culture.

As the director of The Graph Foundation, which supports blockchain data protocol The Graph, Beylin is passionate about Web3, which is the decentralized iteration of the internet that powers blockchain-based applications like NFTs.

“Love in The Time of Web3” got a lot of attention following Musk’s tweet. That night, Beylin listed it as an NFT, or nonfungible token, on marketplace Zora, and two days later, it sold for five wrapped ether, which is about $19,800 at current pricing, to an anonymous buyer.

“It is surreal,” Beylin says.

Though it was Beylin’s idea to create the meme, she did not design the image of the cartoon couple or edit the prices of bitcoin and ether.

Beylin was inspired to create the meme after seeing a post by another Twitter user who edited the cryptocurrency prices and tweeted it as a joke.

To compensate the user, who is known as @shegenerates, Beylin gave her 20% of the proceeds from the NFT sale. Shegenerates was fine with Beylin using her edit, she tells CNBC Make It.

“Personally, I have [Musk] blocked on Twitter, so I only saw it after Eva [Beylin] posted about him sharing it. I wish I got all those likes myself because I can only imagine how much serotonin my brain would make with all that attention, but memes are permissionless, so it’s just cool to see things I shared around,” Shegenerates says.

Beylin doesn’t know the creator of the image depicting the cartoon couple. And because of the legal gray area that NFTs exist in, it’s not clear whether the use of this image infringes on any potential copyright laws.

With her cut of the sale, Beylin plans to reinvest in other artists by buying their NFTs.

“As a hobby artist, I’d never be able to reinvest in art or have my art paid for [without NFTs]. So, my thing has always been reinvesting back into NFTs,” she says.

The buyer of “Love in The Time of Web3” has already relisted the meme for 69.42 wrapped ether, or about $275,000. Though it’s less than the buyer’s asking price, a bidder already offered 6.94 wrapped ether, or about $27,500, for the meme.

If it resells, Beylin will earn a 15% royalty, she says.

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Don’t miss: This 12-year-old coder helped develop an NFT collection that made over $5 million in 3 weeks



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Xpeng launches flying car that can also operate on roads

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HT Aero, an affiliate of Chinese electric carmaker Xpeng Inc., launched a new vehicle capable of flying in the air and driving on roads. The launch of HT Aero’s 6th–generation model happened at the Xpeng Tech Day on Sunday, October 24, 2021.

Xpeng

GUANGZHOU, China — HT Aero, an affiliate of Chinese electric vehicle maker Xpeng Inc., launched a new flying car on Sunday that it says can also drive on roads.

The company says it plans for a rollout in 2024.

HT Aero’s vehicle will have a lightweight design and a rotor that folds away, the company said. That will allow the car to drive on roads and then fly once the rotors are expanded.

The vehicle will have a number of safety features including parachutes, the company said.

HT Aero is backed by Xpeng and its founder He Xiaopeng. The company raised $500 million last week from a number of outside investors including high-profile venture capital firms.

Flying cars — also called electric vertical take-off and landing vehicles — have garnered a lot of interest from automakers and start-ups.

However, there are a number of challenges for these vehicles to become wide-scale including regulation and safety issues.

HT Aero’s new land and air vehicle was launched at Xpeng’s Tech Day where the company also took the wraps of the latest version of its advanced driver assistance system called XPILOT 4.0.

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Twitter and Square CEO Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world

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Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.

Marco Bello | AFP | Getty Images

Twitter co-founder Jack Dorsey weighed in on escalating inflation in the U.S., saying things are going to get considerably worse.

“Hyperinflation is going to change everything,” Dorsey tweeted Friday night. “It’s happening.”

The tweet comes with consumer price inflation running near a 30-year high in the U.S. and growing concern that the problem could be worse that policymakers have anticipated.

On Friday, Federal Reserve Chairman Jerome Powell acknowledged that inflation pressures “are likely to last longer than previously expected,” noting that they could run “well into next year.” The central bank leader added that he expects the Fed soon to begin pulling back on the extraordinary measures it has provided to help the economy that critics say have stoked the inflation run.

In addition to overseeing a social media platform that has 206 million active daily users, Dorsey is a strong bitcoin advocate. He has said that Square, the debit and credit card processing platform that Dorsey co-founded, is looking at getting into mining the cryptocurrency. Square also owns some bitcoin and facilitates trading in it.

Responding to user comments, Dorsey added Friday that he sees the inflation problem escalating around the globe. “It will happen in the US soon, and so the world,” he tweeted. Dorsey is currently both the CEO of Twitter and Square.

It’s one thing to call for faster inflation, but it may be surprising to some that Dorsey used the word hyperinflation, a condition of rapidly rising prices that can ruin currencies and bring down whole economies.

Billionaire investor Paul Tudor Jones and others have called for a period of rising inflation. Jones told CNBC earlier in the week that he owns some bitcoin and sees it as a good inflation hedge.

“Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment,” Jones said Wednesday.

But most of the major investors have not gone so far as to call for hyperinflation like Dorsey.

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