At the turn of the decade, live shopping became a multi-million-dollar thing over in China. It quickly took off, with charismatic sellers on social media and dedicated live shopping platforms shifting tonnes of goods. From collectors to bargain hunters, they’d open their phones, watch a live show, and buy in real time.

Forecast to become the next big step in eCommerce in the West, many early efforts and investments ended up falling flat. Even efforts from established sites like Amazon failed to stick. Social media sites bowed out after quick live shopping stints, and just a couple of years ago, the sector looked to have flopped.

Whatnot thought otherwise. Founded in 2019, the niche shopping platform slowly built up speed, giving people the chance to sell their products live online and create very engaging events. It subtly grew to command a huge user base, over one billion in sales, and now, the company’s valued at $20 billion.

Realizing the Potential of Live Shopping

In May 2016, Alibaba’s Taobao Live began to prove the concept of live shopping and its potency in the Chinese market. A colossus of retail in China, the hit sales event Singles’ Day generated $7.5 billion in just 30 minutes on just the one platform in 2020. It had skyrocketed, encouraging the forecast reports from McKinsey.

They showcased the potential of this selling format, how it works, and why, but the medium just didn’t pick up as quickly as it did in China. The Far East nation has a population that’s far more adept at new tech formats and those the population in generally more willing to embrace new tech as it comes – such as with the AI trend right now.

Even so, Whatnot saw the potential just as McKinsey did, and they hung in there as the platform gradually grew. In fairness, the style was a hit from the get-go, with them selling a horde of Funko collectibles from the office for hours until they had to call it a day. That was in 2020. By October 2025, they’d met a valuation of $11.5 billion.

In August this year, Whatnot enjoyed yet another major jump in valuation. With $545 million raised in funding, its new valuation climbed to $20 billion. With that, the live shopping market was said to be worth $22 billion, which Whatnot estimates is around 60 percent under its umbrella.

Following a Trend of Live Growth

It took a little longer than some expected, with a fair few casualties along the way, but the underlying growth in people turning to live streaming for entertainment looks to have helped more people make the switch from eCommerce to live commerce.

This is clearly showcased in the arrival and continued draw of online live bingo. With a set schedule and a 90-minute main event on set nights, live bingo delivers the character and cheekiness of the classic game that regular online bingo can’t deliver. So, players get the best of both worlds – a fun host and convenient bingo play.

Of course, the spearhead of this movement is largely credited as Twitch, followed by fellow video platforms looking to catch up, like YouTube. At the time of writing, Twitch commanded over 2.7 million live viewers and a 2.2 million seven-day average. It’s a vast audience of people who continue to turn to live streams as their top option.

After a longer wait than expected, live shopping looks to be going mainstream, and the patience and steady growth of Whatnot looks primed to put the platform at this new forefront of online shopping.

SpaceX’s first financial results since its June Nasdaq IPO sent a mixed signal to the market. The company delivered impressive growth, but continued to post losses amid an unprecedented level of investment.

It was the scale of capital expenditures, not the revenue dynamics, that became the main factor putting pressure on the stock. After the report was published, the SpaceX stock chart showed a 10% increase, but those gains were quickly erased.

In the second quarter, SpaceX’s revenue grew by 92% year?on?year, reaching $7.8 billion. However, capital expenditures surged more than sixfold to $18.4 billion, significantly exceeding analysts’ consensus estimate of $11.2 billion. About 80% of these expenses were related to the development of AI infrastructure after the merger of SpaceX with xAI.

The company’s main source of revenue remains unchanged — Starlink satellite internet. Revenue from the telecommunications division grew by 66% to $4.3 billion, and operating profit reached $1.66 billion. In just one quarter, the service attracted a record 1.7 million new users, increasing its subscriber base to 12 million people. At the same time, the average monthly revenue per customer remained at $66, despite the recent price increase.

The aerospace segment looks quite different. Despite 29% revenue growth to $962 million, it ended the quarter with an operating loss of $542 million. SpaceX is directing more and more resources to its own projects, primarily Starlink. While in 2020 about half of Falcon 9 launches were for the company’s satellites, that share has now approached 80%. Commercial customers are already facing a shortage of launch slots, with virtually none available until 2028–2029.

The economic logic behind this strategy is clear. Each additional Starlink satellite launch can generate significantly higher long?term profits for SpaceX than fulfilling a third?party commercial order. Even now, the satellite network accounts for about 60% of the company’s total revenue, while the traditional space business accounts for a smaller share.

The AI segment is expanding just as aggressively. Its revenue grew by 247% to $2.6 billion, although the division remains deeply unprofitable. Most of its revenue comes from renting out computing power. In the quarter, the company secured contracts for computing capacity worth $14.1 billion, but under accounting rules, only $1.6 billion was recognized as revenue.

Elon Musk stated that by the end of the year, SpaceX will have more than 2 GW of computing capacity, compared to the current 1.4 GW, and by the end of next year, this figure could reach 15-20 GW. All new data centers will be built exclusively on the Nvidia Vera Rubin architecture, which the company’s CEO described as the best platform for AI development.

At the same time, SpaceX’s investments are not limited to building computing infrastructure. The company is gradually transforming Starlink from a purely satellite network into a full?fledged mobile operator. SpaceX President Gwynne Shotwell confirmed plans to create ground infrastructure that will support the rollout of its Starlink Mobile service, allowing the company to compete directly with the largest American telecommunications operators. This network will be deployed gradually using existing Starlink facilities, which should help contain additional capital spending.

The next stage in the network’s development will be the introduction of Starlink V3 satellites. The company plans to deploy them into orbit during the 14th Starship test flight. The new generation of satellites will provide gigabit data transfer speeds, but to fully roll out the service, it will be necessary to build a constellation of approximately 1,000 V3 satellites, a target SpaceX expects to reach in the second quarter of next year.

Despite the record revenue, SpaceX’s net loss for the quarter amounted to $541 million. Nevertheless, this was less than half the loss recorded a year earlier. The company ended the quarter with $100 billion in cash and highly liquid assets, and contracted future revenue reached $47.5 billion.

For investors, the main question is not about current profits, but about SpaceX’s ability to turn large?scale investments into sustainable cash flow. So far, the market is cautiously assessing such an aggressive development strategy, but if the company manages to simultaneously scale Starlink, maintain its leadership in space launches, and bring its AI business to self?sufficiency, today’s investments could become the foundation for the next stage of growth in its market capitalization.

Africa has supplied precious metals to the world for generations, but their economic role is beginning to change. Gold, silver, platinum, and related metals could become more important not only as exports, but also as building blocks for investment, manufacturing, infrastructure, and broader economic development.

More Than a Source of Raw Materials

For much of modern history, Africa’s mining relationship with the rest of the world has followed a familiar pattern: minerals are extracted locally and shipped elsewhere for processing. The producing country earns export revenue, but much of the higher-value economic activity happens abroad.

That model is increasingly being questioned. Global interest in metals has grown alongside investment in renewable energy, electronics, electric vehicles, data centers, and advanced manufacturing. Precious metals have a place in many of these industries, giving African producers an opportunity to rethink what mining can contribute to their economies.

The conversation is also influenced by changing commodity markets. Investors following a silver price prediction, for example, may focus mainly on whether the metal could rise or fall. For an African country with mineral resources, however, the bigger issue is what happens before that silver reaches the global market. Mining, refining, transportation, financing, and manufacturing can each generate economic activity.

The real opportunity, therefore, may be less about selling more metal and more about capturing a greater share of its value.

Gold Remains an Important Economic Asset

Gold continues to occupy a special position across Africa. Countries including Ghana, South Africa, Mali, Tanzania, and Burkina Faso have significant gold industries, while exploration continues in other parts of the continent.

Gold can provide governments with export earnings and tax revenue while supporting thousands of direct and indirect jobs. Mining operations also require transportation, engineering, security, equipment, financial services, and other local suppliers.

There is another reason gold matters. Unlike metals that depend heavily on a single industrial application, gold attracts demand from several directions. It is used in jewelry and technology, while investors and central banks also hold it as a financial asset. This gives gold a distinctive role within the broader commodities market.

Still, simply having gold underground does not guarantee widespread prosperity. The economic impact depends heavily on how projects are managed and how revenues are used.

Platinum Could Gain New Strategic Value

Southern Africa has an especially strong position in platinum-group metals. South Africa holds an exceptionally large share of global platinum resources, making the region difficult to ignore in discussions about future metal supply.

Platinum is associated with automotive catalysts, but its uses extend into chemicals, electronics, medical equipment, and other industrial applications. It could also play a role in technologies connected with hydrogen production and fuel cells.

This creates both an opportunity and a challenge. Demand patterns can change as technology evolves. African economies that depend heavily on exporting one mineral can therefore be exposed when industries shift or commodity prices decline.

Building industries around minerals rather than depending entirely on their extraction could help reduce that vulnerability.

Processing Could Make the Bigger Difference

One of the central questions for Africa’s economic future is where minerals are processed.

Shipping unprocessed material abroad usually captures only part of the potential economic value. Refining and processing metals domestically can support skilled employment, industrial investment, technical knowledge, and local supplier networks. The International Energy Agency estimates that Africa currently captures less than 1% of the value generated from manufacturing clean-energy technologies and their components, despite its major role in supplying several important minerals.

Changing this situation will not happen simply by building more mines. Reliable electricity, transportation links, ports, skilled workers, financing, and predictable regulation are all necessary if countries want companies to invest further down the value chain.

Regional cooperation could matter as well. Instead of every country attempting to build a complete industry independently, neighboring economies could specialize in different parts of production and trade with one another.

Mining Can Support Wider Development

Large mining projects often require infrastructure that can benefit industries beyond mining itself. Roads, railways, electricity networks, water systems, and ports built partly to support mineral production may also lower costs for manufacturers, farmers, and other businesses.

The same principle applies to human capital. A more sophisticated mining and metals industry requires geologists, engineers, technicians, software specialists, financial professionals, and skilled tradespeople. Developing these capabilities can create knowledge that eventually spreads into other parts of the economy.

There are risks, of course. Poor environmental practices, corruption, unstable regulations, and excessive dependence on commodity exports can weaken the benefits of mineral wealth. Governments also have to balance attracting investment with ensuring that communities and national economies receive a reasonable share of the returns.

A Chance to Build Around Africa’s Natural Advantage

Africa’s mineral resources give the continent an important position at a time when global supply chains are being reconsidered. The World Bank has highlighted the potential for mineral development to encourage investment not only in extraction, but also in processing, infrastructure, innovation, and employment.

The next chapter, however, does not have to repeat the old pattern of digging resources out of the ground and sending them overseas.

If African economies can develop stronger local industries around gold, silver, platinum, and other valuable minerals, precious metals could contribute to something much larger than export income. They could help finance infrastructure, expand industrial capacity, create skilled employment, and give African countries a stronger position in the global economy.