VW’s Tesla Killer, Revenge Travel and Bhutan’s Secret Crypto Millions

Memo is Forbes’ global weekly newsletter that curates the latest in future trends, entrepreneurship and sustainability.

Broadcast on Saturdays, it also includes everything you need to start your weekend, from must-listen podcasts to new book releases and much more. sign up here.

The memo hits 150,000 subscribers

This week The memo reached an exciting milestone, gaining 150,000 subscribers from around the world.

On behalf of the many people who work tirelessly to build this newsletter each week, thank you. We are so grateful for your support and have loved hearing from you. If you haven’t gotten in touch before, just click reply to this email!

To mark the occasion, the brilliant newsletter team at Forbes is working hard on new design and functions for The memo. Look out for a brand new look in early May.

We welcome your thoughts and feedback on the new design. Enjoy the weekend.

Five things we learned

Subway’s founders cut up a multi-billion dollar fortune. While the chain is eyeing potential sales of $10 billion, Forbes reveals the late co-founders and their families squandered billions for themselves, while franchisees say they are left with crumbs.

VW takes on Tesla with its new 435 mile range sedan. The new ID.7 can become an attractive alternative to Tesla’s Model 3 and S, with market-leading efficiency. The first cars are expected to hit the road at the end of 2023.

Building gas stations in space is the next big thing for investors. Have you ever wondered what happens to satellites when they run out of fuel? They become space junk and are gently incinerated. A smart start-up is to develop an open standard for refueling satellites, so that they operate longer.

The tiny kingdom of Bhutan secretly held millions of dollars worth of crypto. Known as one of the world’s “happiest” countries, Forbes can reveal Bhutan’s sovereign wealth fund has become the world’s first to cultivate a crypto portfolio.

You should always use Face ID in public. Criminals are going back to basics by “shoulder surfing” their victims, watching you enter your password manually. With many of us using our phones as digital wallets, armed with your password, thieves can now take over your digital life and your real finances.

The good

E-scooters are often hired by disabled riders to combat fatigue and pain. Despite complaints that e-scooters are littering our cities and creating potential dangers for the blind and visually impaired, new data shows that around 5% of riders worldwide have revealed they are actually disabled. A participant with autism revealed how scooters created an alternative to buses and trains, causing him stress and anxiety.

The bad

“Revenge travel” pushes flight prices up by up to 50%. Travelers are making up for “two lost summers” during the pandemic, as airlines recoup two years of losses, creating the perfect storm of record high airfares. Time to rethink your summer plans?

See

Stupid trucks are literally killing us. If you are unlucky enough to be hit by an SUV, you are 3 times more likely to die than if you were hit by a regular car. They are also more deadly for drivers and passengers, they are less fuel efficient, the list goes on. Not just bikes, YouTube, free to watch worldwide.

Listen

Why does a small state make the rules for everyone? America’s second smallest state punches well above its weight, especially when it comes to business registrations. Learn how Delaware became the kingdom of corporations. Freakonomics, free to listen worldwide.

Read

The Big Con. Economist Mariana Mazzucato explores the growing dependence between consultancies and risk-averse governments, arguing that our best and brightest candidates are being diverted away from public service. Penguin Random House, from $15.

Taste

Why you need a pellet smoker for outdoor cooking, grilling and BBQ. Start the summer season by mastering the art of smoking, transforming the toughest cuts of meat into unforgettable feasts for family and friends.

sign up here to get The Memo newsletter delivered to your inbox every Saturday.