We can all agree that 2020 was an eventful year to say the least. But a new year means new beginnings, and the action-packed January definitely did not disappoint. From the Bernie Sanders meme to Wall Street’s battle against Reddit, here is a brief recap of what happened in the first month of 2021.
Storming of the United States Capitol
As part of the ongoing protests following the 2020 US Election, pro-Trump supporters stormed the Capitol on January 6, leading to the lockdown of the Capitol as well as numerous deaths. Instigated by Trump’s tweets regarding the validity of the election results, the aftermath of the riot included the suspension and ban of Trump’s accounts across various social media platforms, including Twitter, Snapchat, and Facebook, as well as a second impeachment.
Battle of the Billionaires
Elon Musk, the CEO of SpaceX and Tesla, overtook Jeff Bezos, the CEO of Amazon, as the richest person in the world on January 7 by just over US$4 billion. However, after a rollercoaster of a week, Bezos took back the number one spot where he continues to sit at with his net worth of US$197.1 billion. How will this rivalry end? Only time will tell. In the meantime, we’ll keep you updated if either of them decide to end world hunger.
Joe Biden becomes the 46th President of the United States
On January 20, Joe Biden was officially sworn in as the 46th President of the United States, with Kamala Harris becoming the 49th Vice President of the United States. This makes her not only the first woman, but the first Black woman and Asian American to hold this position in United States history. For a more in-depth look into Kamala Harris and her journey, stay tuned for our upcoming Power Woman series!
Of course, one of the inauguration’s highlights was undoubtedly Bernie Sanders, who stole the show with his oversized mittens and practical attire. Not only did he spark a meme frenzy, but apparently is also the next fashion icon?
Bridgerton breaks Netflix records
Now I may be a *little* biased due to my love for period dramas, but I just had to include this in our monthly recap. Bridgerton overtook shows such as Money Heist, You, and Queen’s Gambit to become Netflix’s most watched original series just 28 days after its release with over 82 million viewers. With its diverse casting, sense of nostalgia, and female-forward storyline, it’s no wonder the internet is obsessed. If you haven’t seen it yet and need a quick escape from reality, I highly recommend checking out season 1 (and I also highly recommend avoiding watching with your parents).
The GameStop stock frenzy
Without boring you all with the inner workings of the stock market, here is the gist of the GameStop short squeeze. With GameStop’s business steadily declining, many hedge funds decided to short (AKA sell) the stocks, betting that GameStop’s stock would continue to do poorly. Once the business failed, these hedge funds would then get a bunch of money back.
However, things did not go as planned. After Reddit users caught on to the scheme, they did the obvious thing. They started buying GameStop’s stocks like crazy to drive up the value, causing more people to buy the stock and creating not only an endless cycle but also a wave of panic among Wall Street investors. Ah, the power of the internet. With GameStop’s shares starting to plummet again though, experts predict that this will end in a financial crisis.
And there you have it -- a quick overview of January 2021’s major events. Here’s to seeing what February has in store for us!
Are there any other types of news you want us to cover in future articles? Let us know in the comments!
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