Social Sphere: That Bernie Meme & Pinterest Adds Stories

    January 29 2021  |  News , Social Media

    PLANOLY - Blog Post - Social Sphere - Week of 1.25.21 - Feature Image

    Wall Street works hard, but meme creators work harder. This week is full of memes, money, viral content, and of course, Facebook. Let’s get into it! 

    Clubhouse receives one billion dollars worth of funding while a subreddit bankrupts a  billion-dollar hedge fund. Facebook decides whether Trump can return to its platform and Pinterest is the latest social platform to add stories to its home screen. Bernie’s inauguration meme, Nia Dennis’s gymnastics floor routine, and JoJo Siwa all go viral this week and all for the greater good. 

    Here’s the rundown.

    PLANOLY - Blog Post - Social Sphere - Week of 1.25.21 - Image 1

    In the News

    Clubhouse Gets a 1 Billion Dollar Investment 

    The elusive new social network, Clubhouse, is reportedly raising at a 1 billion dollar valuation. While they haven’t revealed the actual price yet, Clubhouse has plans to help creators get paid on the platform with methods that includes subscription services, tipping, and ticketing sales. This is all a part of their “Creator Grant Program,” which Clubhouse has done a great job recruiting creators on its platform. More revenue towards its creators will sustain their interest, especially if they’re looking to become famous on the new platform. Monetization for its users also allows Clubhouse to monetize itself. The app is currently free for all users and will start running the first tests of these new services in the next few months. Many speculate it could be similar to a Patreon built right into the platform. They also announced they are working on an Android-app. 

    GameStop. Reddit. Wall Street. 

    If you were on social media at all this week, you heard about a group on Reddit r/wallstreetbets taking down a billion-dollar hedge fund. The group under r/wallstreetbets got wind of the hedge fund betting big on a short on GameStop and used that information to recruit more members to pile in shares and call options. Using the internet’s power, r/wallstreetbets gained over 3 million users and pulled off a short squeeze in GameStop. Even before GameStop, retail investors started to use technology to their advantage to increase their individual impact. This is all part of the plan to democratize the market. However, Robinhood, an investing app, suspended trades of those stocks. Now the Securities and Exchange Commission is investigating and the people who got rich might end up losing it all. 

    Facebook Decides Trump's Fate  

    Facebook met with its external Oversight Board to discuss whether to allow Donald Trump back on its platform. Facebook suspended his account due to the violence that occurred online and at The Capitol this month. Facebook suspended his account until the transition of power was complete, and now needs to decide Donald Trump’s account’s fate. Twitter permanently banned Trump, but Facebook wasn’t as steadfast in its decision due to Mark Zuckerberg always saying, “he does not want to be the global arbiter of what people can say or not say on Facebook.”  Facebook won’t make the decision itself and will ask the Oversight Board to make the call. The Oversight Board is a separate entity funded by Facebook. A lot is riding on this decision, especially with Trump off Twitter. Trump supporters are claiming censorship, but Facebook is still allowing the board its usual 90 days to process the case. Facebooks is receiving scrutiny for its decision to pass this to the Oversight Board, alleviating itself from making critical decisions. 

    Pinterest Adds Stories to Its Home Screen

    Pinterest couldn’t help itself. It needed to get in on the action by adding stories to its home screen. Pinterest began introducing stories back in September but will now be available to every user to watch starting this week. “Story Pins” will look and feel similar to many other social platforms with a stories feature. They will appear at the top of the home page, and users will be able to see Story Pins from creators they don’t follow. Unlike the other platforms, Story Pins won’t go away after some time. Instead, they will automatically save to the creator’s library for Pinterest to continue promoting and boost engagement. The only caveat is that businesses and creators are the only people allowed to make Story Pins right now. Regular users won’t be able to post any themselves; just watch. 

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    What's Trending

    Bernie Meme Goes Viral

    After last week’s presidential inauguration, Senator Bernie Sanders became the center of attention everywhere on the internet. You couldn’t go long without seeing his photo edited into some movie scene or background. The now-viral image of him sitting crossed armed wearing mittens and a mask perfectly captured Bernie’s essence perfectly — a real man of the people. This isn’t the first time Senator Sanders went viral for being himself. He actually went viral last year for his campaign video asking for funding, which quickly became one of the top memes in 2020.  This time Bernie dug into meme culture and created merchandise using the photo to raise money for charities. Regardless of whatever side of politics you’re on, you can’t deny the power of a good meme. It brought businesses, brands, and all creators in on the fun of creating ads and content using the meme. Here is one of our favorites from last week. 

    Nia Dennis Does It Again in 2021

    Nia Dennis does it again with her 2021 gymnastics floor routine. The video posted of the UCLA gymnast’s Saturday floor performance received more than 7 million views by Monday afternoon. Dennis shared with the LA Times that she wanted her routine to feel like a dance party, including hits from Kendrick Lamar, Beyoncé, Missy Elliot, Meg Thee Stallion, and Tupac Shakur. The floor routine that earned her a score of 9.5 got the support of U.S. gymnast Simone Biles. This isn’t the first time one of Dennis’s floor routines went viral. Last year, she received millions of views on her floor routine to a medley of Beyoncé songs. 

    Jojo Siwa Comes Out and Receives So Much Online Support

    Dance Moms and YouTube star JoJo Siwa came out to her audience on Instagram Live this past week. As an out member of the LGBTQ+ community, she hasn’t officially labeled herself but says she is the happiest she’s ever been. She later posted a photo of her wearing a shirt, “Best. Gay. Cousin. Ever.” and thanked her audience for the outpouring of love and support. Since her announcement, many users took to TikTok supporting her sexuality along with celebrities commenting and tweeting their love like Perez Hilton and Ellen DeGeneres. But like most things on the internet, you have your supporters and your haters. One follower commented on her post, “My daughter will never watch you again,” where JoJo responded, “Okay!” The interaction later tweeted by users praised her for her unbothered behavior. 

    Thanks for checking in this week, and in case you missed out on past editions, check them out here!