As Americans try to save more money, these are the best jobs for those seeking extra income.With pay raises set to disappoint and almost 40% of Americans resolving to save more in 2023, some are looking for new ways to generate extra income with a side hustle. Even as the US job market remains strong, so does inflation, leading some to seek more money. While Labor Department data shows that wages rose 4.6% in December compared to a year earlier, that still lags inflation, which rose 7.1% in November from last year. Labor force participation ticked up in December and the unemployment rate dropped to 3.5%, a five-decade low. “Given rising interest rates, inflation and other rising costs, people are more inclined to sign up for a side gig to cover the increasing cost of living,” said Sinem Buber, lead economist at ZipRecruiter. Side hustles also become more common in strong labor markets — like the one we’re in now — when opportunities are plentiful, Buber said. Lining up a second part-time job may also provide a cushion in case layoffs spill over from big tech into the rest of the economy. ZipRecruiter analyzed listings to identify jobs that can be done part-time with few or no starting requirements and ranked them by average hourly wages. Some popular side hustles like blogging or content creation didn’t make the list because they’re typically freelance and not listed on job sites. These are the 10 most profitable side-gigs, according to ZipRecruiter:  Image link: https://i.ibb.co/spfp7Qf/side-hustles-avg-pay.jpg1. Family assistantComing in at number one is “family assistant,” which usually involves some combination of cooking, cleaning, childcare, running errands, coordinating schedules and handling other household administrative tasks. Though many family assistants live with their employers and work full-time, part-time positions are available. 2. CraftsmanCraftsmen include specialists like carpenters, metal workers and glass blowers. Certificate programs, trade schools and community college offer training. 3. Sales specialistSales specialists work in a range of industries from tech to real estate to insurance. A sales representative reaches out to potential customers and manages those relationships.
4. Quality assurance reviewerQuality assurance reviewers monitor, inspect and test products to ensure the company’s standards are upheld. QA reviewers can work in a wide range of sectors like food safety, pharmaceuticals, manufacturing and software. 5. Care coordinatorCare coordinators oversee and monitor patient care, usually in hospitals or long-term patient care facilities. The job involves coordinating schedules, working with patients and their families and organizing documentation and medical records. 6. Event representativeEvent representatives organize special events for clients and help promote, set up and run the campaign. For example, event representatives could staff tradeshows or festivals, talking to potential customers and marketing products or services. 7. DriverMany types of companies need commercial drivers, including construction, health care and retail. 8. Customer serviceCustomer service representatives resolve complaints and help clients with technical issues over the phone or via email. 9. Nursing aideNursing assistants support health-care staff by administering medication and providing basic care in hospitals, rehabilitation centers, nursing homes and assisted living facilities. 10. Lead generatorCommonly known as telemarketers, lead generators reach out to prospective clients by phone, email and social media, answering questions about services and scheduling appointments. https://www.bloomberg.com/news/articles/2023-01-06/10-best-side-hustles-in-2023-to-make-some-extra-money .... Our recent slew of high job quitting statistics could correlate with uptrends in freelance work and side hustles. This past year, 39% of American professionals participated in freelance work, either part-time or full-time, according to Upworks new survey of 3,000 adults. Thats equivalent to 60 million Americans, up 3 percentage points since 2021 and a record high since Upwork has performed said survey starting in 2014. https://bitcointalk.org/index.php?topic=5428782.msg61444572#msg61444572 While it is not mentioned which income bracket the majority of quit jobs fall into. It is entirely possible the largest segment of quit jobs occur at the minimum wage level. There was a study published many years ago which could not determine how minimum wage earners pay their bills off of their income. With mandatory spending rising at fast rates. These negative trends could significantly have worsened. Which could define a trend whereby many quit their jobs as their salaries no longer allowed them to afford to cover basic bills. It is known that many seeking help have high difficulty finding workers. Looking at the above chart where side hustle jobs with salaries as high as $20 can be had at an entry level with "few or no starting experience". Perhaps we begin to see why workers are abandoning minimum wage employment opportunities at high percentages. While I don't think this illustrates the entire picture. There are perhaps a lot of things going on which are not being defined. Perhaps it is a step in the right direction. |
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SHANGHAI/HONG KONG (Reuters) -Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. Ant's $37 billion IPO, which would have been the world's largest, was cancelled at the last minute in November 2020, leading to a forced restructuring of the financial technology firm and speculation the Chinese billionaire would have to cede control. While some analysts have said a relinquishing of control could clear the way for the company to revive its IPO, the changes announced by the group on Saturday, however, are likely to result in a further delay due to listing regulations. China's domestic A-share market requires companies to wait three years after a change in control to list. The wait is two years on Shanghai's Nasdaq-style STAR market, and one year in Hong Kong. A former English teacher, Ma previously possessed more than 50% of voting rights at Ant but the changes will mean that his share falls to 6.2%, according to Reuters calculations. Ma only owns a 10% stake in Ant, an affiliate of e-commerce giant Alibaba Group Holding Ltd, but has exercised control over the company through related entities, according to Ant's IPO prospectus filed with the exchanges in 2020. Hangzhou Yunbo, an investment vehicle for Ma, had control over two other entities that own a combined 50.5% stake of Ant, the prospectus showed. Ma's ceding of control comes as Ant is nearing the completion of its two-year regulatory-driven restructuring, with Chinese authorities poised to impose a fine of more than $1 billion on the firm, Reuters reported in November. The expected penalty is part of Beijing's sweeping and unprecedented crackdown on the country's technology titans over the past two years that has sliced hundreds of billions of dollars off their values and shrunk revenues and profits. But Chinese authorities have in recent months softened their tone on the tech crackdown amid efforts to bolster a $17-trillion economy that has been badly hurt by the COVID-19 pandemic. "With the Chinese economy in a very febrile state, the government is looking to signal its commitment to growth, and the tech, private sectors are key to that as we know," said Duncan Clark, chairman of investment advisory firm BDA China. "At least Ant investors can (now) have some timetable for an exit after a long period of uncertainty," said Clark, who is also an author of a book on Alibaba and Ma. REGULATORY SCRUTINY Ant operates China's ubiquitous mobile payment app Alipay, the world's largest, which has more than 1 billion users. Ant, whose businesses also span consumer lending and insurance products distribution, said Ma and nine of its other major shareholders had agreed to no longer act in concert when exercising voting rights, and would only vote independently. It added that the shareholders' economic interests in Ant will not change as a result of the adjustments. Ant also said it would add a fifth independent director to its board so that independent directors will comprise a majority of the company's board. It currently has eight board directors. "As a result, there will no longer be a situation where a direct or indirect shareholder will have sole or joint control over Ant Group," it said in its statement. Reuters reported in April 2021 that Ant was exploring options for Ma, one of China's most successful and influential businessmen, to divest his stake in Ant and give up control. The Wall Street Journal reported in July last year, citing unnamed sources, that Ma could cede control by transferring some of his voting power to Ant officials including Chief Executive Officer Eric Jing. Ant's market listing in Hong Kong and Shanghai was derailed days after Ma publicly criticised regulators in a speech in October 2020. Since then, his sprawling empire has been under regulatory scrutiny and going through a restructuring. Once outspoken, Ma has largely remained out of public view since the regulatory crackdown that has reined in the country's technology giants and did away with a laissez-faire approach that drove breakneck growth. "Jack Ma's departure from Ant Financial, a company he founded, shows the determination of the Chinese leadership to reduce the influence of large private investors," said Andrew Collier, managing director of Orient Capital Research. "This trend will continue the erosion of the most productive parts of the Chinese economy." As Chinese regulators frown on monopolies and unfair competition, Ant and Alibaba have been untangling their operations from each other and independently seeking new business, Reuters reported last year. Ant said on Saturday that its management would no longer serve in the Alibaba Partnership a body that can nominate the majority of the e-commerce giant's board, affirming a change that started mid-last year. https://www.msn.com/en-ca/money/topstories/ant-group-founder-jack-ma-to-give-up-control-in-key-revamp/ar-AA1655oC.... Ant group is the owner of alibaba which is essentially china's answer to amazon, and a very good global retail platform. If I was located in europe or asia I would definitely consider shopping on alibaba for things like mopeds, bikes, scooters and electric vehicles. They have some great deals on there. Although it is known that there are some hidden fees for US shoppers in the form of tariffs and assorted costs. For those who do not recognize the name, Jack Ma was unhappy about the direction of chinese COVID lockdowns and publicly criticized the effect they were having on the chinese economy. After which time, he disappeared for awhile and was not seen in public. Some speculated Jack Ma was in prison. Others said he was dead. Months later, Jack Ma was once again seen in public after it was announced by the media that he had taken a vacation. Now it seems that Jack Ma is ending all influence and ties he has with ant group. Being an outspoken capitalist with an ambitious nature, I wonder if Jack Ma will now be free to pursue other business ventures. He certainly could have access to good start up capital given his net worth. What would be a good investment or start up to pursue given the current economic and financial climate of the world? |
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The increased quits rate is the opposite of what the Fed wants to seeAmericans wrapped up 2022 by quitting more. The overall quits rate grew in November after staying steady or declining for nine months, according to new data from the US Bureau of Labor Statistics. The overall quits rate climbed from 2.6% in October to 2.7% in November. Quits in the private sector hit 3% again, an increase from 2.9% the previous month. Job openings also remained steady from October to November at 10.5 million. This is the opposite of what Federal Reserve Chair Jerome Powell has said he wants to see in the labor market. Throughout 2022, Powell noted that the Fed would like to see job openings and quits decrease and wage growth slow down in order to help bring down prices. Still, the labor market is cooling off in some aspects. The hiring rate fell from 4% in October to 3.9% in November. That trend is likely to continue as recession fears weigh on employers—or as they simply become satisfied with their staffing levels after hiring sprees. https://qz.com/us-quit-rate-increase-in-november-2022-1849948946 .... I haven't seen it mentioned anywhere. But it is possible that one of the reasons people are quitting in high numbers involves them not being able to pay their bills with the salary they earn. Which has to be a tough spot to be in. It is known that many homeless living on the streets, have stable full time jobs and simply cannot find residence within an affordable range. Is it possible that economic and living trends will naturally shift in response to the shifting nature of wages and real estate costs. Perhaps in the future our culture will shift to become more nomadic and rural. People will adapt to become more like atilla the hun or genghis khan. Or is a shift towards nomadic lifestyles, no longer as easy as it once was. Nature and the wild no longer being able to offer as much in terms of potable water or foragable sustenance. While we have definitely seen a shift towards offgrid living and organic farming becoming mainstream trends. I don't think we have seen the full evolution of the cultural movement that will be spawned by automation of jobs and other modern trends. One interesting statistic to know is how many americans are currently employed in the crypto industry in the USA. And the size of the unbanked demographic. We have recently seen countries like spain, el salvador, argentina and others cater to digital nomads and crypto whales in an effort to achieve the opposite of capital flight. It has long been acknowledged that small business owners are responsible for the creation of 50% of new jobs. In which case, perhaps this makes the crypto industry with its good growth, liquidity and small business support as a logical sector to tap in order to stave off some of these negative economic conditions. |
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Leo KoGuan is one of the largest retail investors in the electric vehicle manufacturer.Elon Musk is under siege. The billionaire entrepreneur has been the object of public attacks for several weeks now by some of Tesla's major and most vocal retail shareholders. The more the stock of the manufacturer of electric vehicles tumbles, the more the attacks of these individual shareholders redouble and become violent. There is one that stands out: it is Leo KoGuan, a Chinese American investor. KoGuan claims to be Tesla's third largest retail shareholder after Musk himself and Larry Ellison, the co-founder of Oracle (ORCL) - Get Free Report. In recent days, KoGuan has been attacking Musk on a daily basis. He went, as he says himself, from a fan boy of the Techno king, Musk's title at Tesla (TSLA) - Get Free Report, to the No. 1 opponent of the CEO. He no longer hesitates to accuse Musk of wanting to destroy the value created at Tesla. 'If I Knew, I Wouldn't Invest in Tesla'It should be noted that the serial entrepreneur has not yet responded to any attack from KoGuan. Tesla releases its 2022 fourth quarter results on Jan. 25. Until then, the executives of the company are required to observe a quiet period, as required by stock market regulation. They cannot discuss elements that could influence the share price. "I am 100% in Tesla bc I believe in Elon Musk and Tesla," KoGuan wrote on Twitter on Jan. 7. "But he is killing SH and Tesla. If I knew I wouldn’t invest in Tesla." "Elon invested ≈$200mm but took out $40B, Larry invested $1B, I invested over $3B, I have no choice but to act and speak out. I cry out to U for help!" KoGuan's anger and revolt are due to Tesla's stock market rout. In 2022, Tesla stock lost 65% of its value, translating to more than $600 billion in market capitalization evaporated in a year. Tesla's market value is currently $357 billion, down from over $1 trillion at the start of 2022. While Musk attributes this stock market disaster to macroeconomic factors like the Federal Reserve's aggressive interest rate hike to fight inflation and the energy crisis in Europe, many Tesla shareholders, including KoGuan, believe that his acquisition of Twitter for $44 billion is the big problem. They claim that when Musk set his sights on the social media platform, he completely left Tesla behind. Worse, he has alienated many Tesla buyers by attacking progressives and Democrats on Twitter regularly. "We want Elon back to Tesla, but has new seductive beauty named Twitter. Twitter is giving him 'dear leader' power that he craves to decide who wins, loses and dies," blasted, on Jan. 8, KoGuan, who invested about $3 billion in Tesla shares. 'Blind Cult Fanboys'To a Twitter user pointing out that Musk had lost $200 billion in personal wealth on paper due to Tesla's stock market crash, KoGuan said that was not the case. "No no no!" the investor responded. "Not only he abandoned Tesla, his capital is also disappeared! He’s the greatest financial genius of our time. He cashed out $40B, his investment in Tesla is not nil, zero, but negative -$39B, but he owns 13.4% + vested 304 million shares. Paper lost $200B is phantom." "Correct," agreed Ross Gerber, another important Tesla shareholder who has criticized Musk in recent weeks. "Elon, hasn’t lost anything. He cashed out over $40 bil…" KoGuan's revolt and his call for rebellion are nevertheless very badly taken by some Musk fans and members of the Tesla community. The latter defend the tech mogul and accuse the investor of hypocrisy. To which KoGuan responds by denouncing what he calls the cult of Musk. "Everyday you tweeted about love and how you respect him," one Twitter user tweeted at KoGuan. "As soon as stock plunged you reveled your face . Hope stock goes lower so we can filter people like you." "Dude, I am protecting blind cult fanboys from themselves," the investor responded. "I was his blind fanboy, but no more. I can’t rescue Tesla alone. We need all SH and Institutional fund managers to correct the anomaly of Tesla governance bc we love Tesla. We don’t abundant the one we love; we rescue it." He believes the time has come to limit Musk's powers at Tesla. For him, the board of directors must play its role. "Leo, with all due respect, rather than stirring a rebellion (which will fail), how about working on solutions?Given your share count, @MartinViecha can be reached and can convey your concerns to CEO and BoD? Pulling retail shareholders in this 'battle' feels inappropriate," tweeted at him a Twitter user who describes herself as a fan of Musk. "I reached to both BOD and the one last year. We got unfulfilled promises. You, Elon’s fangirl, and Gary [Black, another Tesla shareholder] did petition for buyback but got the BOD and the one’s silent treatment," KoGuan responded. "Desperate situation requires desperate move," he added. "We are hopeless. Doing nothing is not an option!" BOD stands for board of directors. "The One" refers to Musk. He repeated the same call for action on Jan. 8. "I contacted the board and the one for about 1 year, what I got was nothing or at best only empty promises. Actually, from these interactions I found out Tesla is one man show company but it is no longer a family business. It is a public company with more than 100,000 employees." KoGuan, however, plans to remain a large shareholder of Tesla. "Here is my promise unless the great Captain Larry Ellison buys more Tesla shares, I plan to have about 50 million shares to become the 2nd largest individual shareholder of Tesla by 2026," the investor said. "I welcome blind cult followers competing w/me who will own the most shares by 2030?" https://www.thestreet.com/technology/big-tesla-shareholder-mounts-a-rebellion-against-elon-musk .... This is interesting: KoGuan's anger and revolt are due to Tesla's stock market rout. In 2022, Tesla stock lost 65% of its value, translating to more than $600 billion in market capitalization evaporated in a year. Tesla's market value is currently $357 billion, down from over $1 trillion at the start of 2022.
While Musk attributes this stock market disaster to macroeconomic factors like the Federal Reserve's aggressive interest rate hike to fight inflation and the energy crisis in Europe, many Tesla shareholders, including KoGuan, believe that his acquisition of Twitter for $44 billion is the big problem.
To a Twitter user pointing out that Musk had lost $200 billion in personal wealth on paper due to Tesla's stock market crash, KoGuan said that was not the case.
"No no no!" the investor responded. "Not only he abandoned Tesla, his capital is also disappeared! He’s the greatest financial genius of our time. He cashed out $40B, his investment in Tesla is not nil, zero, but negative -$39B, but he owns 13.4% + vested 304 million shares. Paper lost $200B is phantom." Does anyone remember a time when bitcoin was criticized for exhibiting too much volatility. While traditional investments like stocks and bonds were considered more stable and reliable HODL investments by some? Of course, that was pre pandemic era. Before stocks like TSLA (tesla) lost 65% of their value inside of a single year. Here tesla's claimed 3rd largest investor KoGuan claims that the twitter deal is the issue behind tesla's large devaluation in 2022. I always wondered why Elon Musk offered to buy twitter for $40 billion which to my mind is about 10 times more than its worth. If such is the case, can it be said that Elon Musk only has to succeed in making twitter profitable for the buyout to be considered a success. Or does twitter have to redeem itself to the value of $40 billion staked on it, in order to break even. Tesla is known to sell merchandise in exchange for dogecoin. There have been rumors that tips in bitcoin or cryptocurrency support would be rolled out for native use on twitter in the future. Elon has been strangely silent on topics like this, which many have speculated upon for some time. |
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Kevin McCarthy reportedly agreed to spending caps that would limit future aid to Ukraine as part of the deal with ultraconservatives that enabled him to finally be elected as House speaker on Saturday. Mr McCarthy, a Republican, secured the position in the early hours, following a historic five-day 15-vote fight that brought Washington to a standstill. His Right-wing opponents from the chamber's Freedom Caucus, dubbed the “Taliban 20”, wielded their opposition to US aid for Kyiv as part of their justification for voting against him in the first 14 votes. Representative Matt Gaetz of Florida, one of the most hardline aid sceptics, led the charge against Mr McCarthy’s candidacy for speaker before eventually yielding after an extraordinary confrontation in the chamber. In scenes shown on live television, Mr McCarthy walked over to Mr Gaetz after the failed 13th vote to beg him to change his mind. Rebuffed, he walked away only for a scuffle to break out behind him as another Republican Congressman, Mike Rogers, lunged at Mr Gaetz. As he accepted the gavel in the early hours of Saturday, Mr McCarthy, who was backed by former president Donald Trump, outlined the Republicans' aggressive lines of attack ahead of the 2024 presidential race. He vowed to "pass bills to fix the nation's challenges, from the wide open southern border to 'America last' energy policies, to woke indoctrination in our schools." The election bid by Mr McCarthy, 57, who has served as Minority House Leader since 2019, marked the first time in a century that voting for a speaker has gone beyond one round. Finally able to take the oath of office, Mr McCarthy swore in newly elected lawmakers who had been waiting all week for the chamber to formally open and the 2023-24 session to begin. But his protracted fight foreshadowed how difficult it would be for him to govern with an exceedingly narrow majority and an unruly hard-Right faction bent on slashing spending and disrupting business in Washington. According to reports, to end the impasse, Mr McCarthy agreed a deal that the House would commit to passing bills that would cap all discretionary defence spending at 2022 financial year levels, meaning roughly $1.47 trillion. Congress has passed four emergency supplementals totalling more than $100 billion since Russia’s invasion in February. President Joe Biden will require Congress to approve any additional military aid later this year. Should one of the rebel lawmakers - who have vowed to oppose any further aid packages - be given leadership roles in the House Rules Committee it could create immense hurdles to passing additional assistance legislation. The most recent $45 billion package agreed by Congress will not be affected by the new House leadership. “Haemorrhaging billions in taxpayer dollars for Ukraine while our country is in crisis is the definition of America last,” Mr Gaetz said last month as to why he had stood against Mr McCarthy. Matt Rosendale of Montana, another holdout, recently voted against US support for Ukraine, citing what he said were more pressing security needs along the southern border with Mexico. “This is a harbinger for a protracted legislative paralysis,” one diplomat warned, telling CNN that “the Freedom Caucus – which is not particularly pro-Ukrainian – has just demonstrated its clout.” Another expressed concern about “the policy concessions McCarthy has to make, and if they are going to affect the US role in the world.” Mr McCarthy shrugged off suggestions that the concessions could weaken his power. "That gives me no problem or concern whatsoever," he told reporters, describing his deal with critics as a "very good" agreement that "empowers the members". https://www.msn.com/en-gb/news/world/kevin-mccarthy-agreed-to-cut-aid-to-ukraine-to-secure-us-speaker-role/ar-AA1644R8.... I don't pay enough attention to US politics, to know if ukraine funding was a bargaining chip in Kevin McCarthy being voted in after 15 separate voting rounds. (The most voting rounds required to confirm a speaker, in more than a century) I'm not even certain if negotiations behind the scenes are accurately disclosed and reported by the media. I would assume at least some of the claims are rumor mill content. The economic and financial implications if this turns out to be accurate, however. Could carry a few long term repercussions for europe. It is known that the united states provided the vast majority of funding and resources to support ukraine during the russian invasion. If that support is lost, europe would have to significantly increase ukraine support as a function of core GDP. Which could have some negative consequences. Of course, there is also a chance that these rumors will be unfounded and US support of ukraine will continue onwards the same as always. |
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Now, let's be some superstitious and say, if you play only when luck appears to be on your side, would you call that a good strategy? I think that can describe approaches similar to modified versions of martingale. Where a player might reduce their wager amount by half when they lose and double the wager amount after a win. Assuming that periods of winning and losing will be cyclical and trend based. But to develop a good gambling strategy involving superstition. I think it would be necessary to follow guidelines set by esoteric branches of study like astrology. There are many who have commented on the uncanny accuracy of astrological descriptions. There are interesting facets of study behind these trends. Which interestingly enough could involve math and statistics. Even things which on the surface appear completely superstition or luck, might involve math and science upon deeper inspection. |
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In case it wasn't obvious from the title, he's predicting the demise of china within 10 years. This parallels some of the common observations made on china over the years. With good points and statistics I hadn't heard before. |
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I'm not an economist, but if deflation happens in 2023 that causes further recession, what would the Federal Reserve do? MAXIMUM ORDERS OF BRRR-MONEY PRINTING. If US inflation is 7% annually. What effect will it have on 30 year mortgage loans? I think the fed will be forced to raise interest rates on loans. Which could incentivize markets to seek alternative sources of credit and liquidity. In a best and worse case scenario, crypto based sources of credit and liquidity could gain higher demand due to them supplying credit and liquidity without the rising interest rates. Raising rates could reduce competitive advantages of conventional bank loan markets. Opening the door for crypto to take prominence. Although recent history has shown markets and regulation trends have swung in directions which are far from linear. The feds alleged brrr money printing is something I remember complaining about back in 2012. I've waited so many years for the fed money printer to go brrr. That I've reached a point where even I have a hard time believing the feds money printing might actually have an effect. Another thing to consider is the feds money printer might go the opposite of brrr. Which could lead to credit and liquidity shortages. Those conditions might actually be worse than most of what we have seen so far. |
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Noncompetes are "an unfair method of competition" and violate US law, FTC says.The Federal Trade Commission today proposed a rule that would prohibit employers from imposing noncompete clauses on workers, arguing that "noncompetes constitute an unfair method of competition and therefore violate Section 5 of the Federal Trade Commission Act." The contract clauses currently "bind about one in five American workers, approximately 30 million people," the FTC said in a fact sheet, writing that noncompetes prevent workers from seeking better jobs and prevent employers "from hiring qualified workers bound by these contracts." "Noncompetes undermine core economic liberties," FTC Chair Lina Khan wrote. "Evidence suggests noncompetes also suppress earnings and opportunity even for workers who are not subject to a noncompete. FTC economists estimate that noncompetes lower US workers' collective income by $250-$296 billion [per year]." Khan added that "locking workers in place can enable incumbents to close off markets to new rivals, undermining dynamism and healthy competition." Employers would have to rescind existing noncompetesThe FTC said its proposed rule "would make it illegal for an employer to enter into or attempt to enter into a noncompete with a worker; maintain a noncompete with a worker; or represent to a worker, under certain circumstances, that the worker is subject to a noncompete." The FTC said employers would have to "rescind existing noncompetes and actively inform workers that they are no longer in effect." The proposed rule would apply to employees and independent contractors, covering "anyone who works for an employer, whether paid or unpaid," the FTC said. The FTC defined a noncompete clause as "a contractual term between an employer and a worker that prevents the worker from seeking or accepting employment with a person, or operating a business, after the conclusion of the worker's employment with the employer." A noncompete ban would affect many types of jobs and industries. "Companies use noncompetes for workers across industries and job levels, from hairstylists and warehouse workers to doctors and business executives," the FTC said. "In many cases, employers use their outsized bargaining power to coerce workers into signing these contracts." The FTC pointed to a case involving Amazon, which sued former executive Gene Ferrell in 2017, alleging he violated a noncompete agreement when he left to join a tech startup called Smartsheet. "After unfavorable media coverage, Amazon dropped the suit," the FTC said. "Under the leadership of Gene and others, Smartsheet thrived and exceeded $500 million in annual revenue." Rulemaking could test limits of FTC authorityThe proceeding could test the limits of the FTC's rulemaking authority. "This proposed rule sets up [a] potential legal challenge to the scope of FTC authority to issue substantive rules (which SCOTUS has not previously addressed)," wrote Jonathan Adler, a law professor at Case Western Reserve University. Adler noted that in a 1973 ruling, the US Court of Appeals for the District of Columbia Circuit embraced a "broad view of FTC rulemaking authority." But it is "questionable whether SCOTUS would uphold that precedent," he wrote. The US Chamber of Commerce said it is considering a lawsuit against the FTC if the noncompete ban is adopted. "We don't believe they have the statutory authority," Sean Heather, the group's senior VP for international regulatory affairs and antitrust, told The Wall Street Journal. "They know they are on very tenuous ground." The FTC is starting the process of implementing a noncompete ban by releasing a Notice of Proposed Rulemaking. The agency will invite the public to submit comments for 60 days after the NPRM is published in the Federal Register. The proposed rule would give employers 180 days to comply after it becomes final. Among other questions, the FTC said it is seeking comment on "whether franchisees should be covered by the rule; whether senior executives should be exempted from the rule, or subject to a rebuttable presumption rather than a ban; [and] whether low- and high-wage workers should be treated differently under the rule." Biden urged FTC to curtail noncompetesIn a July 2021 executive order on competition policy, President Joe Biden urged the FTC to exercise its "statutory rulemaking authority under the Federal Trade Commission Act to curtail the unfair use of noncompete clauses and other clauses or agreements that may unfairly limit worker mobility." "Powerful companies require workers to sign noncompete agreements that restrict their ability to change jobs," Biden's executive order said. The FTC's proposal argues that the agency has authority to issue the rule as follows: Section 5 of the FTC Act declares "unfair methods of competition" to be unlawful. Section 5 further directs the Commission "to prevent persons, partnerships, or corporations... from using unfair methods of competition in or affecting commerce." Section 6(g) of the FTC Act authorizes the Commission to "make rules and regulations for the purpose of carrying out the provisions of" the FTC Act, including the Act's prohibition of unfair methods of competition. Taken together, Sections 5 and 6(g) provide the Commission with the authority to issue regulations declaring practices to be unfair methods of competition. The FTC also disputed employers' arguments that noncompete clauses are needed to protect trade secrets. The "record to date shows that in California, North Dakota and Oklahoma—three states in which employers can't enforce noncompete clauses—industries that depend on trade secrets and other key investments have still flourished. This shows that employers have other ways of protecting these investments," the FTC said. https://arstechnica.com/tech-policy/2023/01/ftc-proposes-ban-on-noncompete-clauses-says-they-violate-workers-legal-rights/ .... Could this open the door to widespread and unregulated head hunting of corporate talent? Could this make it easier for disgruntled and unhappy employees to seek employment in other countries, cities or states? This is definitely an unexpected development. Which could benefit employees and so called independent contractors. While on the surface it may seem that this will primarily affect big tech in the united states. There are a number of industries which could be impacted by this. It is possible sports and entertainment venues like WWE (pro wrestling), boxing and the UFC might no longer be able to sign athletes to exclusive contracts which prevent them from negotiating with outside organizations and promotions. At the moment, its difficult to anticipate how this might change global industry. A part of me is excited by this. I wonder if things are about to get a little crazy. |
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The annual interest from the $100,000 is $3000, which means $250 per month.
Basic financial planning says 3% APY on $100,000 earns less than 7% inflation. Resulting in wealth declining 4% annually. The basic premise for investment is to accumulate assets and wealth at a rate faster than inflation. In an year with 8% inflation, wealth would need to grow 8% to break even. I think most who have a cool $100,000 in liquidity to earn interest in, would choose to invest it in other ways. 12 month IRA (individual retirement accounts) accounts can earn close to 5%. I think long term IRAs can earn closer to 10% APY. But there is a limit imposed where funds cannot be withdrawn for a number of years. Its been a long time since I've thought about IRAs but it may also be possible that their returns are tied to stock markets similar to 401ks. Which could indicate some long term dangers in eras where stocks crash. For those who have $100,000 on hand, they might venture into real estate investments to earn higher than 10% APY. The way this would work is, buying cheap homes in good locations. Repainting, refurnishing, cleaning and reselling at a higher price. (House flipping) Or in some cases, if there were cheap real estate lots which were overgrown with vegetation. It may not be that difficult to clear the lot to increase the resell value. There are youtubers with less than $20,000 who have bought properties and homes which they used for rental purposes to collect passive income. But it should be mentioned that real estate markets are in a considerable amount of flux atm. |
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So another monopoly is broken. Interesting... It could be similar to the DMCA which allowed for reverse engineering of proprietary systems for purposes of increasing interoperability. Or perhaps similar to "right to repair" which opens up proprietary systems to maintenance from 3rd parties. |
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Another libel / defamation suit? As if the world hadn't had enough of that with the Johnny Depp and Amber Heard scandal.
The last few years could have been terrible for Paul financially. Not only does cryptozoo not appear to be doing well.
Logan Paul also claims that Floyd Mayweather Jr and Mayweather Productions still haven't paid him for their exhibition boxing match in 2021.
I don't think that this defamation suit will go to court. I think Paul is only trying to clear his name and set the record straight. He doesn't want his reputation damaged.
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Report compares current crash with dot com fallout of 2000 which resulted in an evolution of the internet to more durable companies and business models.
People trend towards remembering ideas and arguments which they believe to be accurate and intelligent. While abandoning and forgetting comparisons which they believe to be the opposite. Time will tell if people accept the "dot com fallout" as a good explanation. Check back in 6 to 12 months and see if the idea has taken off. Or if people have chosen to dismiss it as being counter intuitive. What happened with the silicon valley dot com bubble is, people threw money at everything vaguely dot comish expecting linear returns. Instead they received steadily diminishing returns, severe enough to result in a bubble. Does this draw direct parallels to our current state of crypto? Will the general public accept that as a good explanation for the crash of crypto assets in 2022? I would be curious to know the answer, myself. |
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It appears many nations around the world are attempting to boost local economies by rolling out measures to attract digital nomads and cryptocurrency whales.
Even if el salvador's crypto mainstream adoption isn't progressing well. Is it possible they have succeeded in attracting crypto whales to reside within their borders? A feat which argentina is now attempting to duplicate.
Capital flight is a big concern in this day and age. Many nations have recently passed laws to limit influx of capital outside of their borders. On the opposite end of the spectrum, many nations are currently attempting to do the opposite by taking steps to invite an influx of capital inside of their borders.
World leaders have to take note of crypto exchanges having billions at their disposal. How much were FTX and SBF worth in tax revenues at their peak? Leaders of the world have to see a potential for attracting and taxing crypto wealth as emerging markets. Its simply the smart play.
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It all depends on which vulnerabilities were exploited for hackers to gain access to backend medical databases.
In some cases, hackers use undocumented zero day exploits, for which there is no patch and no means of defense, aside from servers not being connected to the internet. Which can drastically limit features and functionality.
Zero day exploits are a huge factor with these types of hacks. While there are bounties paid out for finding and disclosing zero day vulns on the defense side. The market purchasing zero day vulns for offense pays out considerably more money. The result is most quality zero day exploits being sold to the highest bidder with a motive to use them for attacks.
IT security in the current era tends to be a low priority from a budgeting perspective. There is also a shortage of personnel in the IT security industry.
There are a number of factors which converge to make things like this possible, or perhaps even commonplace. With there not appearing to be much incentive or motivation to address it.
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Limited edition collectibles related to sports and other genres are nothing new. Investors purchase the exclusiveness of memorabilia due to their exclusiveness and deflationary nature.
While a pack of baseball cards can be bought for cheap. The cards within it appreciate in rarity and exclusiveness over time. Being deflationary limited edition assets, also contributes towards their value appreciating.
These are aspects of limited edition collectibles which NFTs have tried to target within a digital format. However the format of NFTs leaves some things to be desired considering many have demonstrated how they can be reproduced in a way which trends towards them being inflationary rather than deflationary. NFTs currently lack that deflationary momentum of baseball cards and collectibles, which results in them becoming more rare over time through increasing scarcity.
NFTs being digital could also grant them some advantages over things like baseball cards. In a way which might allow them to accumulate intrinsic value. However it doesn't seem that this is widely attempted or supported. The majority of NFTs appear to target only artwork.
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On New Year's Day, several Stanford scientists joined CBS' Scott Pelley on the program "60 Minutes" to discuss the global mass extinction crisis. Spoiler: no one had any good news. Tony Barnosky, a Stanford biologist whose work involves using fossil records to map changes in ecosystems over time, told CBS that his work suggests that extinction rates today are moving at roughly 100 times the rate typically seen in Earth's four-billion-year known history of supporting life. According to Barnosky, such rapid population loss means that Earth is currently experiencing the worst mass extinction episode since the dinosaurs. And while Earth itself has repeatedly recovered from mass extinction events, the vast majority of the life existing on our planet at the time has not. Unfortunately, that may well include us humans — or, at least, the trappings of our technological civilization. "I and the vast majority of my colleagues think we've had it," Barnosky's Stanford colleague Paul Ehrlich, who also appeared on the show, told Pelley, "that the next few decades will be the end of the kind of civilization we're used to." That grim reality, according to the researchers, means that even if humans manage to survive in some capacity, the wide-reaching impacts of mass extinction — which include habitat destruction, breakdowns in the natural food chain, soil infertility, and more — would cause modern human society to crumble. "I would say it is too much to say that we're killing the planet, because the planet's gonna be fine," said Barnosky. "What we're doing is we're killing our way of life." In other words? If humans don't drastically course-correct, the havoc we're wreaking on the planet will very unpleasantly do so for us. It's a grim warning, but one that other experts are echoing. Ehrlich, it's worth noting, is somewhat of an overpopulation and mass extinction icon. He published "The Population Bomb," one of the first modern books on the dangers of excess human development and population growth, back in 1968, and was considered an alarmist for the controversial predictions he made at the time. Although not all of his contentious forecasts came true, two big ones — that greenhouse gases would melt polar ice, and that humanity would overwhelm the wild — have undoubtedly since materialized. And sadly, his reasoning for their realization feels depressingly familiar. According to Ehrlich, the problem is "too many people, too much consumption and growth mania" — a reality that few would likely argue is showing any meaningful sign of slowing down. "Humanity is not sustainable. To maintain our lifestyle (yours and mine, basically) for the entire planet, you'd need five more Earths," Ehrlich told his interviewer. "Not clear where they're gonna come from." "Resources that would be required, the systems that support our lives, which of course are the biodiversity that we're wiping out," the 90-year-old researcher added. "Humanity is very busily sitting on a limb that we're sawing off." https://futurism.com/stanford-scientists-civilization-crumble.... No shortage of doom and gloom here: That grim reality, according to the researchers, means that even if humans manage to survive in some capacity, the wide-reaching impacts of mass extinction — which include habitat destruction, breakdowns in the natural food chain, soil infertility, and more — would cause modern human society to crumble. There is a question I have about projected future soil infertility. I think everyone knows there could be a deep connection between soil fertility and animal manure. As species across the world decline in population. There is a decreased volume of animal manure reaching soils. Which could cause soil to become infertile. One example of this is the widespread devastation of bison herds in north america. Prior to european settlers decimating their populations, it was said that bison herds in north america flocked together like locusts in their annual migration across the continent. Reduced bison herds lead to reduced bison manure which contributes towards reduced soil fertility. But even as far back as 100 years ago, it was still very common for many to reside in independent farming communities with many animals to maintain relative fertility of soil. More recently the social exodus from farms to cities and modern living may correlate with lower populations of animals per square acre (hectare). Which could correlate with reduced square footage of arable land across the globe. But to be honest, I can't say I've looked very far into this topic. It is known that independent farmers in remote desert locations have succeeded in growing many acres of forestland in areas where it was considered impossible to do so. |
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China’s lagging growth a key threat this year, IMF managing director Kristalina Georgieva said, while the US is ‘most resilient.’For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the US, Europe and China – all experience weakening activity, the head of the International Monetary Fund has warned. The new year is going to be “tougher than the year we leave behind,” IMF managing director Kristalina Georgieva said on the CBS Sunday morning news program Face the Nation on Sunday. “Why? Because the three big economies – the US, EU and China – are all slowing down simultaneously,” she said. “We expect one-third of the world economy to be in recession. Even countries that are not in recession, it would feel like recession for hundreds of millions of people,” she added. In October, the IMF cut its outlook for global economic growth in 2023, reflecting the continuing drag from the war in Ukraine as well as inflation pressures and the high interest rates engineered by central banks like the US Federal Reserve aimed at bringing those price pressures to heel. Georgieva said that China, the world’s second-largest economy, is likely to grow at or below global growth for the first time in 40 years as Covid-19 cases surge following the dismantling of its ultra-strict zero-Covid policy. “For the first time in 40 years, China’s growth in 2022 is likely to be at or below global growth,” Georgieva said. Moreover, a “bushfire” of expected Covid infections there in the months ahead are likely to further hit its economy and drag on both regional and global growth, said Georgieva, who traveled to China on IMF business late last month. “For the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative, the impact on the region will be negative, the impact on global growth will be negative,” she said. Meanwhile, Georgieva said, the US economy is standing apart and may avoid the outright contraction that is likely to afflict as much as a third of the world’s economies. The “US is most resilient,” she said, and it “may avoid recession. We see the labour market remaining quite strong.” “This is … a mixed blessing because if the labour market is very strong, the Fed may have to keep interest rates tighter for longer to bring inflation down,” Georgieva said. The US job market will be a central focus for Federal Reserve officials who would like to see demand for labour slacken to help undercut price pressures. The first week of the new year brings a raft of key data on the employment front, including Friday’s monthly nonfarm payrolls report, which is expected to show the US economy minted another 200,000 jobs in December and the jobless rate remained at 3.7% – near the lowest since the 1960s. https://www.theguardian.com/business/2023/jan/02/third-of-world-economy-to-hit-recession-in-2023-imf-head-warns .... Could we witness a decoupling of BRICS (Brazil, Russia, India, China, South Africa) economies? Where some select BRICS nations continue to do well economically, while others trend in the opposite direction? Reading between the lines, it seems that many nations of the world are taking steps to insulate their native economies from asset and financial contagion. As well as protect themselves against other negative trends associated with declines of the world's largest consumer (USA) and export (china) markets. Although I haven't seen it officially announced, it seems that gold is being bought up in record volumes by major nations of the world who plan to use it as a stablecoin to protect trade against inflation. Is it fair to say modern day economies have more tools at their disposal to insulate and protect their economy from recession, in contrast to those of previous eras? While fossil fuels and global trade have made modern economies more flexible with larger margins for error? With the internet making communications and data more accessible and abundant with technology like blockchain based open ledgers. All of which might mean future recessions won't be as bad as they would have had they occurred a century or two in the past. |
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The last few years have made me question whether terms like fractional reserve banking should be covered by standard education. If yes, which other financial and economic concepts should school curriculums try to cover? I wonder how many recognize what the "fractional reserve" in fractional reserve banking implies.
I would guess that most who grew up during the internet era, understand the importance of min maxing setups in video games. But by the same token, those same individuals who spent hours strategizing in games might fail to comprehend the importance of min maxing their financial and investment plans. Which could result in them being unsatisfied with their own standard of living.
While the idea of stocks, bonds, FOREX, real estate and other markets might seem frightening and alien. They're not so different from video games in their structure and economy.
I like that I don't see many negative comments when people try to compare banks with bitcoin. Even if people do not recognize differences between banks and bitcoin today. It is possible that future experience will give them a good education on the topic. A better education than they could ever have received from a school system, perhaps?
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Very nice.
Do you have personalized business cards, promotional artwork, or other content aimed at targeting brand name recognition? Are those types of things even good ideas?
I was looking at CNC laser cut business cards and wedding invitations awhile ago. Some are very intricate and beautiful with elaborate scrollwork and filligree. They are also somewhat low cost to produce considering they only require paper and electricity at the low end. With the power consumption of some solid state CNC lasers used for engraving purposes being 10 watts or lower. It is possible that is a decent option for producing business cards and promotional material.
Google search, something like: CNC laser business card
I wonder if anyone 3d prints business cards, keychains or other random items to promote their business? Could it be cost effective and feasible to do so?
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