This is a wild week in the history of business. The hair of a pop star caught fire when he was shooting a soda commercial. A computer software firm introduced an invention that would come to be the powerhouse of most of the world’s computers. One of the largest accounting companies was even caught shredding evidence and went under in a few months. Education was also changed through the invention of a small calculator by an engineer.
What Happened This Week
Pepsi acquired the stylish soda Poppi for 2 billion dollars. Gold was traded at 3000 dollars. Following Switch, Nintendo announced the new console. Skype formally closed its shop 20 years ago. We are going to re-read three stories that changed business this week: a pop star, a computer, and a corporate scandal.
MJ’s Endorsement Deal
Pepsi was designated to outshine Coke during the early 1980s period; therefore, they recruited Michael Jackson in 1983 at a big sum of 5 million dollars, a fortune for an advertisement contract. MJ also changed certain lyrics with the name Pepsi and made a few mini music video commercials. This plan worked, and they hooked young audiences and revolutionized celebrity endorsement in advertising.
Pepsi and MJ Carried On until they didn’t
After the fire, Michael Jackson signed a $10 million contract with Pepsi in 1987 to market his Bad world tour, doubling it to a $20 million deal. However, in 1993, Pepsi ended its relationship with Jackson due to serious allegations. The deal that used to be exciting with the celebrities ended silently, and Jackson never had the same image or association with Pepsi.
Celebrities Selling Stuff
Celebrity endorsements began with Queen Victoria endorsing Cadbury chocolate in 1854, sparking a buying frenzy in Britain. Since then, brands have used athletes, movie stars, and musicians to promote products. Nevertheless, the contract awarded to Michael Jackson by the Pepsi Company in 1983 marked a fresh beginning in celebrity endorsement.
Windows was launched by Microsoft & changed computers forever
Before Windows, it was hard to use a computer, as there was a complicated command to use with only a black screen and blinking letters. That was modified by Microsoft on March 19, 1985, with Windows 1.0, which included icons, click menus, and a mouse. It sold half a million copies priced at $99. It was not perfect, but it was the beginning of making computers easy to use for an average individual.
Windows Got Better, and Microsoft Got Huge
Windows was developed in a slow version, which was later enhanced by Microsoft. Towards the year 1990, Windows 3.0 became popular among PC makers. Windows 95 was released in 1995, which produced a cultural phenomenon that made queues at midnight and set off a concert atmosphere. Microsoft has taken control of the computer industry, and Bill Gates is one of the wealthiest people on the planet.
Arthur Anderson Indicted
Arthur Andersen audited the financial records of big corporations with a history stretching to 90 years of business. In the Enron case, as soon as the scandal leaked, Andersen came up with the cover-up plan of shredding documents to hide fraud. The accusation led to the demise of the firm within months on March 17 2002.
The Calculator That Changed Everything
Before 1966, intensive math required a desk-sized machine or manual calculation. The Cal Tech created by Texas Instruments engineer Jack Kilby became the first handheld calculator of its type. In 1966, Texas Instruments engineer Jack Kilby created the first handheld calculator, the Cal Tech. The first commercial version was launched in 1970 for $150 and became popular. Prices dropped as competitors emerged, making the industry worth $1.2 billion in ten years, enhancing students’ math speed.
