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Automatic TRANSCRIPT

Welcome to tech stuff. I'm your host Jonathan Strickland, an executive producer, and that love all things tech today thought change things up a bit and talk about the history and evolution of cyber Monday. So where did this come from? And are the deals on cyber Monday. Really great. And I guess the answer to that. Second question is essentially it depends. But first, let's talk about some history. So before there was cyber Monday. There was black Friday both in the sense that black Friday is a thing is older than cyber Monday. And also cyber Monday is the Monday that follows black Friday. So technically, it's true in two different senses. All right. So what does black Friday one of the United States? Black Friday is the Friday following thanksgiving. Thanksgiving in the United States falls on the fourth Thursday of November. At least it has ever since. Eighteen thirty nine when Franklin Delano Roosevelt moved the holiday up a week from the final Thursday of November. Now since November two thousand eighteen started on a Thursday November. I was Thursday that means that two thousand eighteen will see thanksgiving fall as early as it can which means November twenty second the latest. It can fall in the month is November twenty eighth. Anyway, black Friday is the day after thanksgiving in the United States. Now, there is an apocryphal story that says the origins of black Friday are deeply racist and tied to the United States history with slavery. According to that story slave traders would sell slaves at a discount on the day after thanksgiving to help plantation owners who are going to want to purchase more slaves to do work leading up to the winter. That's a horrible horrible thing. But the story isn't true at all. And honestly, I find it hard to believe that slave traders would respond to an increase in demand by lowering their prices, they already seen like terrible terrible human beings. I don't think of them as being particularly altruistic. However, we can put that whole explanation aside. Anyway, if anyone tells you black Friday is based in slavery that is not true. The term black Friday in relation to the day after thanksgiving did not appear in print until the nineteen fifties. As far as we can determine there was however an earlier version of black Friday, though, that was not the day after thanksgiving that black Friday wasn't associated with a holiday at all. But rather with a stock market crash that happened on Friday September twenty fourth eighteen sixty nine the cause of that crash was that there were two speculators named Jay Gould and James Fisk and together they were able to drive up. The gold prices way way up while they were trying to corner the market on gold on the New York gold exchange. They had even planted a story to convince US president Ulysses s grant to stop gold sales. They had this report that it was going to hurt farmers out west. Meanwhile, they bought up as much gold as they could. And that raised gold prices as a result. So they thought they were going to be rich. They're going to buy up the golden than they could sell it off at these elevated prices, however, president grant found out about it any ordered the release of millions of dollars of gold to be made available on the market and that caused prices to crash suddenly there was way more supply and this crash ended up affecting the stock market as well. However, this was a moment of acute pain. It was a sharp debt in the stock market, thus the name black Friday, but in the long term. Meant that the nation was actually able to avoid a more persistent depression. So it ended up turning out better than it. Otherwise would have the earliest known reference to the day after thanksgiving being black Friday dates to nineteen fifty one from periodical titled factory management and maintenance that it was a real page Turner..