Happy Friday and welcome back to The Weekly Download! How was your week?
It’s time to recap the biggest news in digital marketing and tech, and kickstart the weekend with a little Friday Fun.
On today’s docket: Reddit investors shake up Wall Street, Twitter’s crowdsourced fact-checking portal ‘Birdwatch’, Clubhouse’s rising popularity, Instagram’s new professional dashboard, and more.
Reddit Investors Shake Up Wall Street
If you haven’t heard about this news yet this week… Where have you been?
Over the past several days, a handful of corporate stocks have ballooned to astronomical price levels, thanks to a group of Redditors who appear to be deliberately inflating them for fun.
It all started a few months ago, when some members of a prominent Reddit community called WallStreetBets saw an opportunity to make some money and teach a lesson in the process.
According to CBC, the member credited with starting the movement shared screenshots that suggest he managed to turn an initial investment of about $50,000 into more than $20 million, simply by buying and holding.
We’ll give you a minute to pick your jaw up off the floor (we’re speechless, too).
Naturally, it’s led to complete chaos on Wall Street, with some hedge funds in particular losing a lot of dough, and calls for a U.S. Securities and Exchange Commission crackdown.
Twitter Launches Crowdsourced Fact-Checking Portal Called ‘Birdwatch’
Birdwatch is Twitter’s latest effort to curb the spread of fake news. This time, the platform is getting its users involved, allowing Birdwatchers to add contextual notes to tweets they think are misleading or contain misinformation.
To learn the basics of Birdwatch, check out this quick video:
— Twitter Support (@TwitterSupport) January 25, 2021
Want to become a Birdwatcher? Anyone with a verified phone and email linked to their account, who hasn’t violated Twitter’s rules, and has two-factor authentication enabled can apply to become a Birdwatcher — although it’s only available in the US (for now).
Twitter says the goal is to expand Birdwatch to the global Twitter community — the company realizes that the more diverse the community, the better Birdwatch will be at effectively addressing misinformation.
Clubhouse: Could It Be the Next Big Social App?
Have you heard of Clubhouse yet?
It’s a new type of social network based entirely on voice that’s quickly earning a reputation as social media’s “next big thing” thanks to a number of factors, including it’s $1-billion valuation.
Using Clubhouse, people can spontaneously jump into topic-based voice chat rooms together. You can join to talk or just listen, and jump from room to room to find what interests you. According to Bloomberg, it’s “like a large conference call, but more fun.”
The platform is currently invite-only but if you’re lucky enough to get an invite, we highly recommend checking it out. You can learn more about Clubhouse and its potential here.
Instagram Launches New Professional Dashboard for Creators
The Professional Dashboard will help users track performance, access and discover professional tools, and explore educational information curated by Instagram in one easy spot.
While these resources already exist within the app, Instagram hopes that by bringing them in one central place it’s easier for professionals to discover and access the tools best-suited for them.
The Professional Dashboard will grow over time as new tools become available and is now available to all Business and Creator Accounts on Instagram.
Toronto Raccoon Adorably Tries to Catch Snowflakes in This Super-Cute Viral Clip
Who said raccoons weren’t cute?!