Breakthroughs and everyday innovations from the year.
HEADLINES ON January 1, 1998
Full News Archive
- Headline: Coffee and Silver Prices Experience Decline. Impact: The decline in coffee prices led to a caffeine crisis in the 2020s where people started hoarding instant coffee, sparking a black market of overpriced Nescafé. Thanks, 1996!. Fact: Fun fact: Coffee is the second most traded commodity in the world after crude oil. So, essentially, the world runs on caffeine and chaos..
- Headline: FDA Approves Breast Cancer Recurrence Test. Impact: The approval of this test led to a spike in genetically-modified coffee beans that produced not just caffeine but also a side of guilt for every sip. Who knew science could brew such drama?. Fact: Did you know that breast cancer recurrence tests have saved countless lives? It's almost like modern medicine is trying to outdo all those soap operas in cliffhangers..
- Headline: Franconia Journal; He's a Monkey, a Helper and Now a Legal Resident. Impact: Elvis the monkey’s legal residency sparked a trend where pets began filing their own taxes, leading to a complicated IRS mess that no one wants to deal with.. Fact: Elvis's story proves that sometimes the real stars aren’t the humans, but the adorable capuchin monkeys living the good life. Can I get a 'monkey business'?.
- Headline: Helping Hand Replaces Hands-Off Role in Asia. Impact: This shift in policy during the Asian financial crisis led directly to governments worldwide investing heavily in their own failures, resulting in a global economy that feels like a never-ending game of Monopoly gone wrong.. Fact: The 1980s really thought they could just ignore the problems. Turns out, ignoring a financial crisis is like ignoring a toddler with a crayon - it only ends in disaster..
- Headline: A Gas Prospector Files Chapter 11. Impact: The Chapter 11 filing became a trendsetter for other failing companies, resulting in a decade where every business thought bankruptcy was just another way to reinvent themselves. Spoiler alert: It rarely worked.. Fact: Trinity Gas Corp's story is a reminder that not all gas is created equal. Some of it is just a big ol' puff of smoke..
- Headline: A U.S. Judge Strikes Down Parts Of '96 Telecommunications Act. Impact: The judge's ruling opened the floodgates for regional Bell companies, leading to a telecommunications boom that inadvertently caused a surge in annoying robocalls in the 2000s. Thanks, Judge Kendall!. Fact: The Telecommunications Act was supposed to usher in an era of competition, but it seems like it just made things more complicated. Who knew? Oh wait, everyone did..
Wall Street Time Machine
AAPL
Apple
Apple - If you invested $1,000 in 1998, it would be worth $2,234,025 today (2234.0x return)
AMZN
Amazon
Amazon - If you invested $1,000 in 1998, it would be worth $914,661 today (914.7x return)