A tearful plush horse toy is taking China by storm ahead of the Lunar New Year, while a landmark social media addiction trial is set to begin and a Singapore real estate fund launches, according to multiple news sources. The crying horse, a product of a factory error, has become a viral sensation on Douyin, China's version of TikTok, with millions of views, as reported by Euronews. Simultaneously, a legal battle involving social media addiction and its impact on young people is unfolding, as detailed by Wired. In Singapore, Hongkong Land launched the country's largest private real estate fund, as reported by Fortune.
The popularity of the sad-looking horse stems from a factory mistake that gave it a tearful expression. This error transformed the toy into a hit, resonating with young shoppers who see it as a humorous commentary on work stress, Euronews reported. Factories in Yiwu, China, have responded to the demand by adding new production lines.
Meanwhile, the legal proceedings regarding social media addiction are set to begin. One of the plaintiffs, Lori Schott, is suing Meta, Snap, TikTok, and YouTube, alleging their platforms contributed to her daughter's suicide. According to Wired, the daughter, Annalee Schott, was allegedly exposed to harmful content, including a live suicide, which exacerbated her anxiety and depression.
In Singapore, Hongkong Land's new fund, the Singapore Central Private Real Estate Fund (SCPREF), is valued at approximately 8.2 billion Singapore dollars (6.4 billion USD). Fortune reported that the fund will focus on prime commercial assets in the country's central business district. The initial portfolio includes several prominent buildings, and the company plans to create a series of funds with high-quality investors, according to CEO Michael Smith.
These stories highlight diverse trends and developments across different sectors. The viral horse toy reflects cultural trends in China, the social media addiction trial underscores the impact of digital platforms, and the real estate fund launch signifies strategic shifts in the business world.
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