Breakthroughs and everyday innovations from the year.
HEADLINES ON July 19, 2002
Full News Archive
- Headline: Johnson & Johnson Drug Factory Under Investigation. Impact: The inquiry into Johnson & Johnson's factory led to a sudden rise in DIY home remedies and conspiracy theories about the pharmaceutical industry, ultimately resulting in an underground movement of eccentric herbalists who believed they could cure anything with dandelion tea. Who knew a factory in Puerto Rico could inspire a nation of 'natural healers'?. Fact: Did you know that Johnson & Johnson was founded in 1886? So basically, they've been perfecting the art of making us question our health decisions for over a century!.
- Headline: Scrutiny of Million-Dollar Needle Deal. Impact: The questioning of the $1 million fee initiated a series of events that eventually led to the rise of 'needle bartering' among hospitals. Who needs cash flow when you can trade medical supplies like Pokémon cards?. Fact: Fun fact: Becton Dickinson is one of the largest medical technology companies in the world. They must be thrilled to be under scrutiny for a needle deal instead of, you know, a life-saving invention..
- Headline: Nokia Reports a Surge in Profit but a Drop in Sales. Impact: Nokia's profit surge despite dropping sales triggered a boom in motivational speeches about resilience in the tech industry, inspiring many startups to keep failing while cashing in on the 'failure is a stepping stone' narrative. Because nothing says success like losing sales and still making money!. Fact: Nokia was once the largest mobile phone manufacturer in the world. Now they’re like that one friend who peaked in high school and still talks about it at every reunion..
Wall Street Time Machine
NFLX
Netflix
Netflix - If you invested $1,000 in 2002, it would be worth $785,671 today (785.7x return)
AAPL
Apple
Apple - If you invested $1,000 in 2002, it would be worth $779,032 today (779.0x return)