2023 is off to a weird start, and it's probably only going to get weirder.
We’re almost halfway through 2023, and a lot of weird stuff has happened.
Weird stuff that most of us did not see coming. So let’s dive into some of the wackiest things in the biz world so far that DEFINITELY weren’t on 2023 our bingo card.
Philip Lowe’s gotten more coverage than Margot Robbie over this past year in Australia.
Let’s be real, how many of us could name who the RBA Governor was before the rate rises started? But now, having seen the cash rate jump from 3.1% to 4.1% in 2023, we’re all gripping the edge of our seats on the first Tuesday of every month.
I need not say more.
We saw the collapse of Silicon Valley Bank, and Credit Suisse be bought out by rival UBS in the same month.
The collapse of Silicon Valley Bank got the world pretty riled up about the stability of the banking system.
It was the biggest collapse since the fall of Lehman Brothers during the global financial crisis.
And now, the story of how SVB collapsed is being turned into a musical comedy with a “gospel and hip hop feel”.
HECS debts went up for every Australian student by 7.1% on the first of June.
While there’s no interest charged on HECS debts, they are indexed every 12 months in line with the CPI.
And with inflation showing no signs of slowing down this year, that’s hit an insane high of 7.1%.
And for the average Australian, that means an extra $1,700 added to their total debt repayment.
Brb gonna go cry and not order Uber Eats because who can afford that?!
Yes, you read that right.
Earlier this year, TikTok CEO Shou Zi Chew was grilled by the US committee about safety concerns around TikTok.
Some of their concerns around the data that TikTok collects were valid, but other concerns on if “TikTok can connect to the home wifi network” were…well kinda concerning.
So of course, Tik Tokers responded in the most Gen-Z way possible.
And so, Shou Zi Chew’s appearance at the hearing has gone viral, where he’s being dubbed ‘daddy’ and ‘oppa’ Shou like here.
Despite being one of Australia’s most promising start-ups, backed by big names like Mike Cannon-Brookes, Milkrun shut down its operations in April earlier this year.
And then a few weeks later, they pulled a Jon Snow, and were brought back to life by Woolies who plan to incorporate it as part of Woolies Metro.
There was a Super Mario Bro’s movie…and it wasn’t half bad.
This scandal has single-handedly shaken up the entire professional services industry in Australia and brought a massive spotlight to the relationship between consultants and government departments.
And now, they’re going to be selling the government consulting arm of the business for $1 to private equity firm Allegro.
That might sound like a solid deal, but there is a catch.
After the scandal with PwC’s tax practise, government departments aren’t super keen to buddy up with PwC anymore.
It’s been called “Swiftonomics” and it’s a trailblazing concept that economists are all too well starting to sink their teeth into.
Household spending is slowing down fast, and that means GDP per capita is declining.
But with Taylor Swift’s Era’s tour coming to Melbourne and Sydney in February 2024, we’re going to see spending on tickets, merch, hotel, restaurant spending, and flights into Melbourne and Sydney.
That means, we’re going to see a lot of money spent that will contribute to GDP.
It’s not new knowledge that Swifties are a force to be reckoned with, but never in our wildest dreams would we have thought we’d be grateful for their spending to keep the country out of a potential recession.
And that’s a wrap on the first half of 2023! Who knows what other whacky sh*t this year holds for us.
And for those of you gearing up for Taylor Swift tickets this week, good luck besties! xx
Sign up for Flux and join 100,000 members of the Flux family