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I tried keeping a notebook to organize my thoughts and ideas just like Bill Gates, Richard Branson, and Sheryl Sandberg do. One of them uses a method that was easily the best.

Bill Gates, Richard Branson, and Cheryl Sandberg have different approaches to note-taking, but I found one worked best for me in organizing my ideas. JP Yim / Getty Images / Slaven Vlasic / Getty Images / Alex Wong / Getty Images / Ana Pelisson / Business Insider Bill Gates, Richard Branson, and Sheryl Sandberg have been known to carry notebooks around with them. They jot down ideas as they think of them and make daily to-do lists to tear out once completed. I tried their different note-taking styles and had varying degrees of success with each method. Every year, a lot of people make a New Year's resolution to get more organized. There are plenty of tips and tricks out there for this purpose, and I recently decided to put one to the test.Business figures like Microsoft cofounder Bill Gates, Virgin Group founder Richard Branson, and Meta COO Sheryl Sandberg swear by a surprisingly low-tech hack to keep their thoughts and ideas organized: They all carry around notebooks.Gates and Branson scribble down ideas as they come to them throughout the day, so they don't forget them. Sandberg notes down what she needs to do for the day and tears out pages once everything on them is complete. I tested out their different note-taking methods for a week and found one worked best by a long shot.During this experiment, I tried taking my notes on paper, as Gates, Branson, and Sandberg do, but I also tried jotting things down on my laptop on some days.I started with Gates' and Branson's approach.I usually only write down ideas with the most potential and mentally file away the others. This meant that, this week, I sometimes needed to consciously remind myself to write down every idea that came to mind, no matter how small.When I did, I found some smaller ideas were actually pretty promising once I gave them more thought and research, and I was thankful I'd written them down, or else I might have forgotten them.The downside to this method for me was that, given my personal tendencies, taking notes on paper sometimes created extra work. For example, I like to keep all of my article ideas in a spreadsheet on my laptop, so they're all in one place. This meant I was jotting down ideas on paper, only to have to type them into a file later.Next, I tried Sandberg's note-taking method — I thought this was the most constructive use of physical note-taking for two reasons.First, there's some satisfaction in ripping out a page once everything on it is finished. It gave me a sense of achievement for that day and some motivation for the next.Second, these were notes I only needed for one day. There was no need to transfer them to my laptop, as I had to do while following Gates' and Branson's method since those notes were for longer-term matters.At the end of the week, I found taking notes on my laptop was preferable to writing them on paper. This was partly because of my personal habits and preferences, since I prefer to consolidate my work essentials on my laptop when possible. I see how people who don't share this tendency might prefer physical note-taking, but it just wasn't as useful for me.My current work circumstances were also a factor. Since I'm working remotely, I'm near my laptop more often than I'd otherwise be, so it isn't difficult to just write notes there since it's on hand anyway. Under more normal circumstances, I'd be out more, so keeping a notepad might be more useful, since it'd be more likely an idea would strike while I'm away from my laptop.Going forward, I'll keep writing out tasks and to-do lists on paper since Sandberg's technique reigned supreme for me.For ideas, I'll stick with digital note-taking, but following Gates' and Branson's method reinforced to me the significance of writing down ideas as soon as they spring up, even if they seem inconsequential.Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 15th, 2022

Transcript: Mark Mobius

    The transcript from this week’s, MiB: Mark Mobius on Emerging Markets, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business… Read More The post Transcript: Mark Mobius appeared first on The Big Picture.     The transcript from this week’s, MiB: Mark Mobius on Emerging Markets, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I once again have an extra special guest and I really mean an extra special guest. Dr. Mark Mobius is a legend in the world of emerging market and frontier investing. He is one of the first people or first Americans who went out and actually started kicking tires and looking at various companies all around the world. He’s been doing this so long, that when he first began, there were only six investable countries that you could put your money into. The rest of the world either didn’t have public companies or public markets. You couldn’t get cash in and out. There weren’t custodians. It’s amazing that this is the guy that essentially created EM. There were a couple of other folks doing something like this, but no one quite the way that Dr. Mark Mobius did. I found this conversation to be absolutely fascinating. I had like another three hours’ worth of questions for him. We barely got through an hour. If you’re at all interested in what the process is like of doing EM investing, what you find that either makes you more enthusiastic about a company or a company you’re enthusiastic that when you go and kick the tires, you start to find out that, hey, this season has presented. This is just an absolutely tour de force fascinating conversation. So with no further ado, my interview with Dr. Mark Mobius. ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. RITHOLTZ: This week, my extra special guest is Dr. Mark Mobius. He is the founding partner of Mobius Capital Partners. Previously, he spent 40 years working and traveling in emerging market and frontier markets. Before Mobius launched in 2018, he worked with Franklin Templeton Investments for more than 30 years, where he was Executive Chairman of the Templeton Emerging Market Groups. During his tenure there, he helped to expand the assets under management from $100 million to over $50 billion throughout Asia, Latin America, Africa and Eastern Europe. He ran a series of open-ends, closed ends and private EM funds, including private equity funds. He has also been on the World Bank’s Global Corporate Governance Forum. Dr. Mark Mobius, welcome to Bloomberg. MARK MOBIUS, FOUNDER, MOBIUS CAPITAL PARTNERS LLP: Thank you. It’s great being with you. RITHOLTZ: So that is quite a storied career. Let’s start in the early parts of it. You took a very different route than most people in finance. You worked at a talent agency. You were a communications teacher, a political consultant, and am I reading this right? Did you actually market Snoopy merchandise in Asia? MOBIUS: Yes, I did. That’s right. When I was in Hong Kong, I had a consulting firm. And one of my clients was looking for people who manufacture products. So she had a company in San Francisco called Turn To Turn Productions. They had the rights to all of the Snoopy merchandise, all the Peanuts merchandise. And she asked me to look for manufacturers in Asia. And one day I said, “Why don’t you start selling in Asia?” And they didn’t think about that. So they said, “Why don’t you do it?” And of course, that’s how I got involved in distributing these products in Asia, or at least in Hong Kong, in the Greater China area. RITHOLTZ: So is that how a kid from Hempstead, you grew up like 45 minutes from where I am right now, is that how you got involved in international business and investing? MOBIUS: That happened way before that because I got a scholarship to study in Japan, after I got my master’s degree at BU. And that really changed my life because, you know, the culture shock of being in Japan, completely different culture, an incredible country growing very rapidly at that time. That was really what changed me and I decided to go back, I got my PhD at MIT, and then went right back to Asia and started working. RITHOLTZ: So BU masters, Kyoto, postgraduate work, MIT PhD, you also studied at Wisconsin, Syracuse, New Mexico. That seems to be a very heavy focus on education. MOBIUS: It was. I was a professional student. I really didn’t want to leave university, and that’s the reason why I did a sort of a round robin of these different universities. But then, finally, when I got my PhD, I said, “Okay, let’s — let’s get real. Let’s find out what I — you know, what I should be doing in this world? RITHOLTZ: And how did you end up at the Mega International Investment Trust in Taiwan? MOBIUS: That was — yeah, International Investment Trust was a — before that, I was working for a broker in Hong Kong. It was a British broker, Vickers-da-Costa. And they sent me to Taiwan to open an office and also sit on the board of a joint venture they had with local banks and some other British firms, which was the very first investment management firm in Taiwan called International Investment Trust. And eventually, the guy that was running it left and I took over. So I became the head of that company, which they launched the Taiwan ROC Fund, which I think the remnants of it, they’re still listed in New York, I believe. RITHOLTZ: Wow. So over the course of your career, you’ve traveled well over a million miles. You’ve been to 112 countries. I have to ask what are some of your favorite places to travel? And what are some of the favorite foods you’ve eaten? MOBIUS: You know, it’s really interesting when I racked my brains and tried to figure out where I like it the best, I really can’t come up with an answer because every place I’ve been I’ve liked in some way or another. But probably if you ask me right now, where would you like to be? And probably it would be the beach of Rio de Janeiro in Brazil. That might be a place that would be nice to be, or a beach at Cape Town, South Africa. I love outdoor life. I love beaches and that sort of thing. But frankly, I lived in Japan and Korea and Taiwan, Philippines. I love all these places. I really can’t think of any one that’s particularly a favorite. RITHOLTZ: Let’s talk about food because I recall hearing you once say that you ate scorpions on toast. Is that right? That does not sound — MOBIUS: That’s right. RITHOLTZ: Is that sort of like softshell crabs? What do they actually taste like? MOBIUS: Actually, that was in Singapore, in a restaurant that specialized in special sort of medicinally beneficial foods supposedly, and this scorpion on toast. It was sort of like eating crispy shrimp, but it has a little bit of a bite to it so, you know, a little bit of a stingy taste to it. RITHOLTZ: And I assume they removed the poison first or is that — is that just digestible? MOBIUS: Yeah, they do. They do remove most of the poison, but some of the sting was still there. It was very similar to — in Japan, if you’ve ever had fugu, which is the blowfish. RITHOLTZ: Yes. MOBIUS: It still has a stinging sensation on your lips, which is supposed to be part of the experience. RITHOLTZ: I understand Singapore has become the food capital of Asia. What’s it like there? MOBIUS: It is true that Singapore has an incredible variety of dishes because you’ve got not only all the Chinese cuisines which, as you know, are very varied. And then you got cuisines in China that go from very, very spicy to very bland and so forth. But then you have the Malaysian and Indonesian foods. And added to that, of course, you have the Indian foods. So it is true that Singapore is quite varied in its menu. RITHOLTZ: Quite mouthwatering. So let’s talk a little bit about Franklin Templeton. No less than Sir John Templeton asked you to run their emerging markets division in 1987. Tell us what EM was like back then. I have to think the world has changed a lot in the ensuing 30 plus years. MOBIUS: That’s for sure. I mean, in 1987, I was sitting there in Taiwan running the fund management company that was doing the Taiwan fund, International Investment Trust, and I get a call from actually one of the deputies of the Templeton. I had made presentations to him in his space in Nassau, Bahamas a number of times, and I guess he remembered me. And as you know, at that time, emerging markets were just — the term was coined by the international finance organization. And they had — they had launched the emerging market fund, and then Templeton said that he wanted to do the same thing. So he approached me and said, “Let’s raise $100 million in New York and do this emerging markets fund.” And it was a great temptation for me because it enabled me to really expand out of Taiwan into something really exciting. But it was a tough decision as well because I didn’t really know what I was getting into. And we opened a small office in Hong Kong. I hired two analysts, two Chinese analysts who, by the way, stayed with me for those 30 years I was in Franklin Templeton. RITHOLTZ: Wow. MOBIUS: And yeah, and we started with only six countries. You must remember, in those days, most countries did not welcome foreign investment. RITHOLTZ: Right. MOBIUS: They were also either socialist or communist like China and Russia. Eastern Europe was out of the question, of course. So we had only six markets in which to invest, and then we started expanding. Gradually, markets opened up. And eventually we were investing in something like 70 different countries around the world. RITHOLTZ: Do you recall what the original six countries were? MOBIUS: They were Hong Kong, of course, Philippines, Malaysia, Singapore, Thailand and Mexico. RITHOLTZ: No Japan? No South Korea? MOBIUS: That’s right. No Japan and no South Korea. RITHOLTZ: They were considered — they were no longer considered EM countries? MOBIUS: Actually, South Korea was, but it was closed for one reason or another. There were difficulties in getting in. You must remember, you know, the whole idea of getting a custodian to safe keep your securities, all of these technical issues were there. And Japan, of course, had graduated into a developed country by that time. (COMMERCIAL BREAK) RITHOLTZ: So back in the 1980s, I’m going to assume there was no remote access. It was always boots on the ground. Is that how research was done? MOBIUS: That’s for sure. Don’t forget no Internet, no laptop computer, no cell phones. You know, technology has really changed things tremendously. RITHOLTZ: So tell us what did you learn from traveling as opposed to just a phone call, assuming you can actually call anybody? MOBIUS: Well, you know, it’s true that we’re able to do a lot on the phone these days, and particularly with video conferencing, because you could see the people. But there’s nothing like being in a country, smelling the smells that you get, looking at the people, getting a feeling for how people are living. And then you walk into a company, you look around, you observe what the nature of the company is like, what is the morale of the staff, et cetera, et cetera. So there’s nothing that beats that being on the ground and seeing for yourself what’s going on. So we always think that it’s important to be traveling and visiting companies as much as possible. RITHOLTZ: So let’s talk a little bit about your process. Is it top down, you start in a country and then dig into individual companies? Or do you go bottoms up, start with the company and then work your way through that local either country or region? MOBIUS: Well, we like to say that we’re bottom up investors in the sense that we look at the companies intensely. But that doesn’t mean we ignore the macro, the top down approach. Because obviously, you know, let’s say, if we wanted to invest in Sri Lanka today, obviously, you’d have to look at what’s happened to the currency, what’s happened to interest rates, what the government is doing, what kind of restrictions that are taking place for foreign investors to invest, that sort of thing. But after those critical issues, currency, ability to move money in and out, then we dig into the individual company, because that’s the key. Because one of the things I’ve found over the years is that a company can survive in a very difficult environment, and you shouldn’t be afraid to go into a country where the environment is not ideal, as long as you can get money in and out. That’s really the key. Even the currency, if the currency is declining or getting very, very weak, for one reason or another, there’s still opportunities because, for example, an export-oriented company can do very well in such an environment because they’re earning in dollars and their costs are in local currency. So I would say, yeah, we’re more ground up and more fundamentally company-oriented in the way we approach things. RITHOLTZ: So today, I could fly into a different country where I don’t speak the local language, use my iPhone with Google Translate or any one of a dozen other translation apps and be able to communicate with people. What did you do back in the ‘80s and ‘90s? I’m assuming you don’t speak dozens and dozens of languages. What happens when you show up and you’re not fluent? MOBIUS: Well, that’s very interesting and very good thing that we found when we traveled and went to these countries is that you always found people who spoke English, particularly when you were visiting listed companies, companies listed on various stock exchanges, which is where we were looking. Inevitably, in every company, you would find somebody who’s going to be able to translate for you. And more often than not, the top management were English speaking, English educated, you know, so they were — it was quite easy to get information and get face-to-face communications with these people. There are some exceptions, but not that often. It was quite good and quite easy to get people to communicate. And even if the company officials did not speak English, we were able to find translators easily enough. RITHOLTZ: And who else did you speak to? I mean, obviously, you spoke with management, but did you speak to local customers or workers at various places? How comprehensive was your boots on the ground due diligence? MOBIUS: Well, that’s one thing we found, much to our chagrin, that don’t talk to just the top management. We made many mistakes by just talking to top management. But you got to talk to the staff, talk to the customers, talk to competitors. Competitors are a great source of information. Because if you have a competitor who’s speaking very highly of the company, that’s a pretty good sign of the quality of the company you’re talking about. And then we do also talk to government officials. You know, are there any transgressions on the part of the company, or any problems in the industry? So you really have to open up to wide variety of sources. And by the way, that’s one of the advantages of being on the ground as well. RITHOLTZ: To say the least. So when we look at the environment today, active buy side managers, they use a lot of financial models. They use big data. They have the ability to crunch a lot of economic assumptions. What was it like in the 1980s and 90s? I’m going to assume you didn’t have access to all that modern technology and AI. MOBIUS: That’s right, that was not available. Of course, don’t forget, this was the age before method. You know the method program, where you had to separate brokerage fees and research. And in those days, we were able to get an awful lot of information free of charge from brokers who we’re dealing with. Of course, you might not say free of charge because we’re paying them brokerage commission. But we were going to give them orders anyway. So it was very easy to get information, a lot of research from brokers who were doing research. And there were also local research institutions who produce research. So gradually, the knowledge built up. Of course, at the beginning, in ‘87, there was almost nothing available. But by 1995, ‘96, at that time, there were lots of information flowing out of these various firms. RITHOLTZ: Really quite fascinating. So let’s talk a little bit about traveling to different countries and hunting down specific companies. What do you recall as a particularly spectacular investment that you discovered after traveling to a country and were just really surprised by what you found researching a company? MOBIUS: Probably the best example was in China. That was when we discovered a company in China that made the gears for wind power companies. That was about 15 years ago. That’s when, you know, the whole area of wind power was coming up strong. And this company was doing incredible work. We visited the factory and I noticed that the machine tools they were making were top notch, you know, automated machine tools. And they were doing very high quality work, according to their customers. So we decided we’d invest in that company and that turned out to be an incredible investment. That, you know, doubled or tripled the price we paid. So that was probably one good example of, you know, doing on the ground research and finding something that other people are not noticing. And by the way, I think that’s one of the pitches of good investing is finding something that other people are not finding. In other words, try to discover a company that has not been yet so-called discovered by market. RITHOLTZ: What about the opposite? Did you ever show up somewhere excited about a specific company and only to discover, hey, this isn’t what we were hoping for? MOBIUS: Many times. Because many times, we were fooled by the information we’re getting. And you know, we have varied missteps along the way. It is the feature of investing, anyway, as you know. But in emerging markets, you have to be special, and be very, very extra careful. RITHOLTZ: So — so when you started doing this in the late ‘80s, was anyone else from the United States or other U.S. investment firms actually traveling the world looking at companies? You’re sort of the Indiana Jones of this. How long did it take for other investment firms to say, hey, we need an EM or developed ex-U.S. funds, and we need someone like Mobius out kicking the tires? MOBIUS: It took about five years for, you know, the field to grow, where once they saw the results that we were getting, a lot of people began to jump on the bandwagon. You must remember that the pioneer on this was the IFC, the International Finance Corporation. They started emerging markets in (inaudible) funds about — a little earlier than we started our fund. So they were on that. As you know, they were the precursor to the index because this Capital International was the — they were the people that were doing researches of companies all around the world. RITHOLTZ: So you started venturing into Africa way earlier than just about everybody else. What led you to discover that continent, and how have the results been? MOBIUS: Well, you know, as the assets expanded, we really had to find new opportunities everywhere. And Africa was wide open, there were just — there was so much there. And of course, visits, initial visits there really excited us because we realized this is ground that has not been tilled in any direction, lots of opportunities, where there’s no information, which is an advantage, because if you’re on the ground, if you’re able to travel these places and get information, then you have an edge on any competitor that must come in. So I saw tremendous opportunities in places like South Africa, in Nigeria, in Kenya, and of course, Africa, so huge. There are so many countries. There’s tremendous opportunity. Of course, the big challenge was to find an equity market, a stock market — RITHOLTZ: Right. MOBIUS: — and liquidity. Of course, one of the biggest challenges you get, of course, is liquidity, getting enough of liquidity to be able to invest significant amounts of money. RITHOLTZ: You have to be able to move in and out, and not completely disrupt the price or the market. MOBIUS: Exactly. And by the way, that was one of the reasons why we got involved in private equity, because we found so many of these opportunities, but some of them, of course, we’re not listed. Some of them were listed, but there was no liquidity at all. And we decided, hey, why don’t we do a private equity fund, where you know, the holding period for the clients would be five, six, seven years, then we can develop these companies and bring it to the market with more liquidity as we expand. So that was a very, very good move for us. (COMMERCIAL BREAK) RITHOLTZ: And anything stands out as a particularly exceptional or shocking story that didn’t involve finance or a company when you were — when you were traveling all over the world? I have to imagine there were some pretty memorable snafus along the way. MOBIUS: Well, we got caught in a revolution in Philippines, where they’re shooting at the hotel, and we were able to get out, luckily, by helicopter from the roof of the hotel. That was one example. But they were fused post calls like that, but never deterred us, for some reason. Maybe we were too innocent. We felt that, you know, we have to roll with the punches, so to speak. But there’s always some kind of turmoil going on. As you know, I was recently in Sri Lanka. And you know, you can still work and you can still visit companies. But meanwhile, people are demonstrating on the street. RITHOLTZ: Wow. That’s pretty amazing. So let’s talk a little bit about emerging markets versus the United States. This is, I think, the 12th or 13th year prior to 2022, where the U.S. has outperformed emerging markets. I think that’s the longest run we’ve seen in a number of decades. What’s it going to take for EM to make its comeback against the United States in 2022? Maybe this is the year. MOBIUS: That’s a great question. One thing you’ve got to realize is that the world has changed to the extent that a lot of the emerging markets growth is now in the United States, because U.S. companies are manufacturing and selling and buying from emerging countries. RITHOLTZ: Right. MOBIUS: When we saw it in 1987, the whole premise of going into emerging markets was to capture the growth. Because these countries were — these were the low and middle income countries on a per capita basis, they were growing at more than double that of the developed countries, U.S., Japan, Europe, Australia, New Zealand. Now, what’s happened is that a lot of these companies based in the U.S. might even be called emerging market companies. For example, let’s take Apple. Now, 1% of their manufacturing is done in Asia, let’s say, or elsewhere, and 1% of their sales are in emerging countries like China. So it’s become much more difficult to define what is an emerging market. And if you travel to some of these countries, you will be amazed of the growth and the way they’ve developed. And you know, just the infrastructure is just incredible, what’s happened in many of these countries. So it’s become more and more difficult to define specifically what is an emerging market company and even the definition of country, (inaudible) country is blurred. For example, let’s say Korea, Korea was a very poor country when we started in 1987. Today, it ranks as one of the — on a per capita basis, one of the richer countries. RITHOLTZ: Right. MOBIUS: So the (Queens) has always been saying recently that they’re not an emerging market country. They’re more developed country, which I think rings true. RITHOLTZ: So do you still do the same degree of traveling you were doing 25, 30 years ago? Are you, you know, on the road eight months a year? What’s it like today? MOBIUS: Well, I try to travel as much as I can, but with COVID, it’s been so difficult. Thankfully, things are loosening up and I’m able to travel. I base myself now in Dubai. And of course, I have a place in Singapore, but Singapore has been so restrictive. Thankfully, they’re opening up. And other countries are beginning to open up. Recently, as I said, I’ve been in Sri Lanka, in Thailand, and I’m trying to get out to more countries as they open up and they get rid of these lockups. Of course, China is off the chart in terms of restrictions. So that’s out of the question at this stage. But yes, I’m trying to travel as much as I can. RITHOLTZ: So Dubai and Singapore. You know, if you’re bicoastal, if you’re in New York and London, or New York and San Francisco or LA, that’s what they would call it. What do you call splitting your time between Dubai and Singapore? Are those just base of operations for when you’re shooting off to those parts of the world? MOBIUS: Yeah. Singapore is great for visiting the rest of Asia, you know, a great — a lot of it has to do with the airlines. Singapore Airlines had great connections all over Asia. RITHOLTZ: Right. And it’s a great airline. MOBIUS: Great airline. And Emirates is even a better airline, in some ways. Emirates goes all over the world. And I’m able to come to here, to Europe, I’m now in London, and to the U.S. very easily. Excellent airlines. By the way, there’s two good examples of companies in, well, emerging markets, or maybe you could still call them emerging markets, that have really surpassed the U.S. airlines in terms of service, quality, et cetera, et cetera. So, yeah, these two bases are very good, probably because of time zones. In Dubai, the time zone is very convenient, but also because of the convenience of travel. RITHOLTZ: Really quite — quite interesting. So — so let’s talk about some of the bigger issues going on globally today. Russia has become a bit of an anathema internationally, given the invasion of Ukraine. Do we just write down our Russian stocks to zero? Are they ever going to be investable again in our lifetimes, or are they just a total pariah state at this point? MOBIUS: Well, in our fund, we were out of Russia about a year ago because we didn’t like the corporate governance issues that were popping up. You know, the oligarchs were taking over a lot of the companies. But I’m not writing off Russia by no means. I think there’ll be a day when we will go back in. And in fact, I personally keep an account in Russia. And of course, the stock — it’s a very small account, but the stocks in that account are way down. But I think eventually this will come back. But for our fund, we will not go in until things change dramatically in Russia. RITHOLTZ: Is that going to require Putin to leave power in order for the country to be investable again? Or can something significantly change to rehabilitate their image in the world? MOBIUS: It will probably mean Putin leaving, probably, because it would require a complete about face and it would require all of the Western countries to stop the sanctions. Because you must remember, even if I wanted today to invest in a Russian stock, I couldn’t do it because of custodians. RITHOLTZ: Right. MOBIUS: I’m not operating there, you know. RITHOLTZ: You talk about — talk about being canceled, it looks like very much like Russia was now. Previously, you were on the board of directors of Lukoil. I’m assuming that ended some time ago, if I recall reading correctly. And you were also involved with OMV Petrom in Romania. Tell us a little bit about those experiences. MOBIUS: Yeah. OMV Petrom came out about — that was about 10 years ago. We got the contract to run the country funds for the Romanian government. It was quite an unusual situation where they wanted to compensate people who had lost their assets during the (fiscal) period, and they put about 20% or 30% of all the government companies into a fund. And we won the contract to run that. And one of the companies was Petrom. And OMV, the Austrian company came in as a majority shareholder of that company, and we were still holding it and they asked me to be on the board. So we were looking at and getting very deeply involved in many of these Romanian companies. And it’s a great example of where a country, you know, took the decision to sort of privatize state-owned companies that were previously very corrupt, and made a tremendous success of it. And also, kudos go to the European Union, because being a member of the European Union, whenever we went to court, there were tremendous amounts of court battles, the judges would be looking over their shoulders at battles. So we were often treated much fairly than we would have been if they weren’t the members of the European Union. RITHOLTZ: All right. So — so let’s talk a little bit about China. Last year, they pretty much went after their own tech sector. Do we — first, do we still consider China an emerging market? And second, are they another country that’s becoming increasingly uninvestable? MOBIUS: Yes, it’s still an emerging country, defined as a low and middle income country. So that’s definitely there. The problem with China, of course, it’s gotten too big in the spectrum of emerging market economies. Because if you look at the emerging markets indexes, you’ll find that it’s 30% or so China. So whenever China gets hit, emerging markets look terrible. And that’s the reason why a lot of people have been sort of turned off because, as you know, so many people are buying ETFs and index funds. But it’s a good example of where government policy can have a very big impact on your companies. And the measures that China took against the large tech giants in China really damaged the market dramatically because of the impact of those big companies on the China index. So there are cases where you got to pay attention to those macro moves by the governments. But you have to focus on the economic or financial aspect rather than purely political aspects, unless, and this is a very important point, unless the political structure begins to change against free enterprise against companies. And a good example of that was in Venezuela. We were in Venezuela when Chavez came into power. And he started talking about taking over companies, about nationalizing companies. And immediately, we got out because we realized that this was not going to be very conducive. And it’s good we did get out because companies that we owned really crashed, and it was a very bad situation. So — but that doesn’t — recently, that doesn’t happen that often. But China is probably a good example of where government policies can really have a very damaging effect on individual companies. RITHOLTZ: What about inflation? It’s been a giant topic here in the U.S. and we’ve seen numbers around the world have spiked up. How does inflation affect emerging markets? MOBIUS: Well, you know, the great thing about inflation is that if you’re an equity investor, in other words, an investor in companies that can adjust their pricing in line with higher prices, then inflation is not a problem. In fact, sometimes it’s an advantage, because you see prices moving. And if you’re in a company, as I mentioned, with that pricing power, you can do very, very well, because they’re moving up prices at a rapid rate. It’s interesting. If you look at the correlation between inflation numbers and let’s say the S&P 500, there’s very low correlation in those numbers, and that’s probably one of the reasons because good companies that are adjusting their prices in line with the devaluation of the currency can do very well. By the way, I pointed out in the book I just came up with, about inflation, it’s called the inflation myth, and I mentioned this phenomenon, RITHOLTZ: That — that emerging market inflation is actually not a problem? MOBIUS: That’s correct. Provided, and this is the big proviso, you’re in companies that have pricing power. RITHOLTZ: Really interesting. The inflation myth and the wonderful world of deflation. MOBIUS: Yes. And you know, I mentioned that the reason why I put that in, the wonderful world of deflation, because most economists hate deflation, but I argue that deflation is a good thing because deflation means that costs are going down, and people are benefiting from lower and lower costs. And what I pointed out in the book is that technology is making things better and cheaper in terms of pricing power, in terms of earning power. And I’ve seen that my lifetime. You know, when I had my own research firm, I had to carry around this electric typewriter. There were no laptops. RITHOLTZ: Right. MOBIUS: There were no Word, no Excel, nothing of that sort. And when, you know, I mention to young people I had this electric typewriter, they ask me, “What is that?” So the technology has really made life so much easier and more affordable for so many people. RITHOLTZ: I don’t disagree. We’ve been in an era for the past, I don’t know, 30 years. That’s been primarily deflation, with these casual spikes of inflation. I find it kind of hard to understand how all of these older economists keep talking that we’re going back to the 1970s, when the world today seems so different than it was back then. MOBIUS: Exactly, exactly. You talk to any young person, you realize that they are even benefiting more because they know how to use this technology better than old timers like me. RITHOLTZ: So before I get to my favorite questions, I have one last question for you and it has to do with back in 2009, in the middle of the financial crisis, you pretty much called the start of a new bull market. Tell us about what you were seeing at the end of the great financial crisis, and what made you so confident that was a great time to jump back into equities. MOBIUS: Well, you know, my studies showed that all these bear markets are very short in duration, maybe they’re one or two years, at most, three years, you know. And unfortunately, many people measure a bear market from the peak of the previous bull to the peak of the next bull market. RITHOLTZ: Right. MOBIUS: And that’s a wrong way of measuring it. You should measure it from the peak to the bottom. And as soon as you get to the bottom, it starts moving, you’re in a new bull market and it’s a wonderful time to invest because, you know, the percentages are in your favor. So that’s what I saw. I looked at the history and I figured, hey, this is not going to last forever. People are very pessimistic. It’s a great time to be investing, and it turned out to be right. And by the way, that happened three years ago, three years ago now. You know, when we had the COVID situation, it was an incredible time to invest. And you know, that was less than a year that the market crashed and then started recovering. RITHOLTZ: Right. That 34% drop took place over six weeks. And I think by August, we were back to breakeven. It was pretty, pretty impressive. (COMMERCIAL BREAK) RITHOLTZ: I only have you for another five minutes, so let me get to my five favorite questions I ask all my guests. You can think of this as a speed rounds. Let’s quickly run through all five of these, starting with tell us what you’ve been streaming during the lockdown. What was keeping you entertained on either Netflix or Amazon Prime or whatever you were doing to entertain yourself? MOBIUS: Well, I found that YouTube is incredible educational — RITHOLTZ: Amazing. MOBIUS: — media and incredible programs. And of course, I also click on Bloomberg and look at news. If I want to know something about a country, I put news and then the country, and a lot of stuff pops up. So those are the two sources that I found to be very, very good. RITHOLTZ: Tell us about your early mentors who helped to shape your career. MOBIUS: Well, John Templeton was really that man. He was an incredible investor, a wonderful person. He really was an inspiration. And as you know, he lives on through his Templeton Prize. You know, Templeton Prize is larger than the Nobel Prizes. RITHOLTZ: Oh, really? MOBIUS: Because, yeah, he believed that a prize for religion for, you know, the science of religion was most important. So he said — he specified that his prize should be bigger than the Nobel Prize. And of course, it still is. They’ve got an incredible foundation. RITHOLTZ: Tell us about some of your favorite books and what you’re reading right now. MOBIUS: Well, I just finished a book called “Double Entry,” which is a wonderful book. You know, it sounds boring. It sounds like bookkeeping, but it’s not. It’s about the history of the double entry accounting. But it goes into the whole revolution that took place in the Middle Ages, and how people in the Middle Ages adopted the Arabic script and the calculations that came out of the Arab world. And it was — it’s an incredible book. So I’m reading that. I love the history. I’m also — I started the book on Cleopatra not necessarily because I’m fascinated by the woman Cleopatra, but by the era. It tells about what kind of environment she lived in, which is fascinating. So I think — RITHOLTZ: Cleopatra? MOBIUS: Cleopatra. Yeah. RITHOLTZ: Any others? Any longtime favorites that you really want to reference? MOBIUS: Well, I also like books about archaeology. So I’ve been reading a number of books on particularly Latin American archaeology, because I think a lot in Latin America has been overlooked. There was so much emphasis on Egyptian archaeology. But I think Latin American archaeology is incredibly fascinating. RITHOLTZ: Really intriguing. What sort of advice would you give to a recent college graduate who is interested in a career in either investing or emerging market and frontier market investing? MOBIUS: Well, first of all, travel, I mean, you’re young. You can get out. You can travel to all these countries. And that’s a tremendous learning experience to go to these different countries. And stay humble. You know, listen to what other people are saying. Read as much as you can, and keep on asking questions. Don’t think you have all the answers. Remember, John Templeton once said, “Those people who think they have all the answers don’t even know the questions.” And I think young people should, you know, remember that. It’s very important. RITHOLTZ: And our final question, what do you know about the world of investing today that you wish you knew 35 years ago when you first started in EM investing? MOBIUS: It’s not all in the numbers. In other words, you know, when we started, we looked at the balance sheet, the profit and loss statements, and we thought that was the most important thing. It’s not. The most important thing are the people. Who is running the company? What are the associates of that person doing? It’s very important to get to know the people because people create wealth. RITHOLTZ: Quite fascinating. Thank you, Mark, for being so generous with your time. We have been speaking with Dr. Mark Mobius now of Mobius Capital, previously with Franklin Templeton Investments. If you enjoy this conversation, and I do believe this is now the 400th one that showed up on iTunes, be sure to check out any of our previous 399 such discussions. You can find those at Spotify, iTunes, wherever you get your podcasts from. We love your comments, feedback, and suggestions. Write to us at mibpodcast@bloomberg.net. Follow me on Twitter @ritholtz. You can sign up for our daily reading list at ritholtz.com. I would be remiss if I did not thank the crack team that helps put these conversations together each week. Mohamad Rimawi is my audio engineer. Atika Valbrun is our project manager. Paris Wald is my producer. Sean Russo is our head of Research. I’m Barry Ritholtz. You’ve been listening to Masters in Business on Bloomberg Radio. END   ~~~   The post Transcript: Mark Mobius appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureJun 13th, 2022

I was highly radioactive for a month after a thyroid treatment — here"s what it was like and all the rules I had to follow

The treatment for hyperthyroid meant that I became a source of radioactivity for others and had to keep away. Here's what I learned. I took radioactive iodine as part of a treatment against hyperthyroid that made me highly radioactive for a month.Marianne Guenot/Insider A recent thyroid procedure I had involved taking an iodine pill that made me highly radioactive. For about a month I was a danger to others and had to follow a long list of safety rules. My photos — including readings from a Geiger counter — show the weird experience in full.  I've been living with a hyperactive thyroid for years, a disease that has debilitating symptoms and can cause heart problems in the long term. When I was offered treatment to fix the problem, I jumped at it — but there was a catch. I had to take a concentrated dose of radioactive iodine which meant I'd be emitting gamma radiation for a month. Here's what it was like to become highly radioactive.I have Graves disease, which messes up your thyroid.The thyroid is a gland found in the throat. In my case it was overactive.Getty Images; Marianne Guenot/InsiderI have Graves disease, which means my thyroid is overactive. The thyroid controls metabolism — how quickly the body works. By spewing hormones into the body, thyroids affect how quickly body temperature, digestion, energy levels, how fast your heart pumps, and even how you think and feel. When the thyroid makes too much of these hormones, the body goes into hyperdrive. Graves disease is very uncomfortable and can be dangerous if left untreated.I couldn't do the sports I love so much.Iryna Veklich/Getty ImagesIf not treated properly, Graves can lead to heart problems.It's also really unpleasant. My heart would start racing unprompted, I would feel extremely hot in cold environments, my weight would drop or shoot up regardless of my diet, and it made me anxious and sad for no reason. I also had to stop going to the gym and doing yoga for fear of putting too much strain on my heart.Radiation nukes the thyroid to calm it down.The symptoms of Graves can be controlled with pills. But if the pills don't work, a more permanent treatment is considered.One method is to kill a good proportion of the cells in the thyroid, sharply reducing the hormone output. There are two ways to do this: one is surgery, which is quite invasive. The other is radioactive iodine, a treatment that is thought to have very few side effects that can be done as an outpatient procedure.  The dose is so high that you start emitting a level of radiation that can harm others.This card lays out the rules to follow during the treatment. I was asked to carry it at all times in case of a medical emergency.Marianne Guenot/InsiderThere were strict rules to follow to avoid harming others:For three days: don't make food for other people, and increase personal hygiene. For 16 days: avoid staying within 6 feet of others for more than 30 minutes a day, sleep alone, and no kissing or sex. For 27 days: no close contact with pregnant people and children, no non-emergency medical and dental treatments, and no busy social situations.For six months: avoid getting pregnant.  I had to follow a low iodine diet before the treatment.Delicious meals that were eaten during my low-iodine diet: an avocado toast with tomatoes, a beef and mushroom crepe, oat milk porridge with bananas and fruit, no-cheese pesto chicken.Marianne Guenot/InsiderAhead of the treatment, I followed a low-iodine diet for two weeks to flush out iodine from my thyroid. The thyroid sucks up iodine from around the body to make its hormones.That's why radioactive iodine works so well to treat hyperthyroid: it rushes to the thyroid and has its effect there. The rest of the body gets relatively little radiation.  These are some iodine-rich foods I needed to avoid: Fish.Eggs.Processed meat.Sea salt.Milk and other dairy products.By the end of the two weeks, I couldn't wait to eat a cheese sandwich. I was treated at St. Bartholomew's hospital in central London as as an outpatient.I was given the treatment in the nuclear medicine department in St. Bartholomew's Hospital in central London.Marianne Guenot/InsiderI headed to the nuclear medicine department and was given the treatment in a fairly generic room.My pill came in this thick lead container.The pill was kept in a thick container which keeps the radioactivity inside.Marianne Guenot/InsiderIt's carried around in a lead container to prevent others from being exposed. Staff wheeled it in on a cart.I wasn't supposed to touch the pill and was given a grabber to swallow it.This is what the grabber looks like.Marianne Guenot/InsiderThe grabber has little claws at the bottom to grasp the pill in the container and is hollow so I could tip the pill back into my mouth without ever touching it.Here goes!Down the hatch!Marianne Guenot/InsiderAs soon as I took the treatment, my Geiger counter started picking up radioactivity. The procedure was completely free via the UK National Health Service.I live in the UK and got the treatment through the state-owned NHS. There was no charge for any part of the treatment.As soon as I took the pill, my body gave off high levels of radioactivity.The level shown on Insider's Geiger counter was 1,300 times higher than normal "background" radiation levels.Marianne Guenot/InsiderA technical disclaimer! To be completely accurate, Geiger counter readings need to be taken in a controlled environment after the machine was calibrated by a professional.We didn't do this, so the data in this article is more of a ballpark than a precise measure.All the same — moments after taking the pill, the radioactivity measure jumped to 1,300 times higher than the "background" level expected of an average person.The doctor told me that the radioactivity then was mostly in my stomach and that as the pill was digested it would concentrate in my thyroid. I left the hospital quickly.This picture was taken moments after I took the radioactive iodine pill, as I was walking home.Marianne Guenot/InsiderFrom this moment on, I had to avoid exposing others. In some cases, hospitals decide to keep patients in special protected rooms for a few days.But I live alone and could easily isolate, so my doctors let me go. I don't have a car, so I walked home on quiet streets. This is a graph of how radioactive I was over the course of the month.Radioactivity measured at the throat shot up as the treatment started. Please note the disclaimer about the data above.Marianne Guenot/InsiderI used the Geiger counter to measure radioactivity closest to the source: around the throat.I found that radioactivity shot up at first, then dropped steadily over time, reaching normal-ish levels by the end of the treatment.The radioactivity decreased quickly as I got further and further away from the Geiger counter.As soon as I moved away from the detector, radioactivity dropped. Please note the disclaimer about the data above.Marianne Guenot/InsiderRadiation was strongest around my throat and decreased steadily as the detector was further away.That means that those who were more than 6 ft away from me would get a lot less radiation than those who were very close to me. I felt totally normal.The worst people tend to report while radioactive is a sore throat and slight nausea. I didn't even feel that.The only superpower is radioactive sweat.I was told to double flush the toilet during the first three days of treatment.Getty ImagesDuring the first few days of the treatment, you're at your most radioactive.The radioactive iodine that didn't bind to the thyroid is getting flushed out in body fluids.This is mostly via peeing, but also through things like saliva, sweat, and poop. During those first few days, you are asked to double flush the toilet. Any period pads or tampons should be double-bagged and thrown away immediately. You're also asked to use your own plates and not cook for anyone else. I felt guilty about the risk of exposing people, even a tiny bit.For me, being exposed to the radiation was OK because I had a big upside that outweighed the extra risk.For other people, there were only downsides to being near me.The rules I followed are designed to reduce the risk of exposing others to practically zero. But still, because people can't tell you're radioactive, it's up to you to decide what to say or do to manage it.I found the responsibility of potentially exposing people without their consent to be overwhelming.  For the first two weeks, you are asked to stay 6 ft away from people. In London, this essentially means staying inside.Going to the park in the early morning was a good way to stay away from people until it got busy.Marianne Guenot/InsiderStaying more than six feet from other people is trickier than I first imagined. I don't have a car and was told to avoid public transport, so any outing from my apartment had to be within walking distance. I could buy groceries so long as I moved around and left quickly, but had to avoid all non-essential contact.I found the park was the only place I could spend a little time outside of my apartment while being far enough from others.Being isolated felt like going back into COVID-19 lockdown.I had the time to reupholster a chair.Marianne Guenot/InsiderI even revived one of my pandemic hobbies: I re-upholstered an old chair and painted my kitchen walls.  You can't kiss, hug, or share a bed with your partner for two weeks.This is how far I had to be from my partner on day 1 for radiation levels to drop back to background levelsMarianne Guenot/InsiderDuring the first two weeks, my partner and I could only see each other for short periods of time, and while six feet apart.It was harder than I thought to not have physical contact. We kept forgetting I was highly radioactive and going in for a hug before remembering we shouldn't. Staying away from loved ones after a somewhat scary medical procedure was harder than I expected.An important election happened during my treatment and there was no way for me to vote.I could vote for the first round of the French presidential election but not for the second round.Marianne Guenot/InsiderI'm French, and France's two-round presidential election was happening during the treatment period.I realized there was no way I could safely stand in line to vote in the second part, a contest between Emmanuel Macron and Marine Le Pen.I tried to vote remotely but found that still required visiting a voting center at a different time, which I couldn't do.So I couldn't vote, which felt infuriating. (Macron won the election.)I couldn't go to a gig I was really excited about.My partner had won tickets for a festival in Bristol where the band Portishead performed for the first time in seven years.I had to settle for streaming the event live at home instead.I couldn't get my hair cut.My hair was getting pretty shaggy a month inMarianne Guenot/InsiderA haircut takes more than 15 minutes. And when your hair grows fast like mine, going without means you end up looking pretty shaggy.After two weeks, places where I'd be close to people for a long time were still out because you never know who might be pregnant.This art exhibit wasn't too crowded and I could leave if it became crowded.Marianne Guenot/InsiderAfter two weeks of strict isolation, I was allowed to see adults but had to stay away from pregnant people and children. That meant that any crowded places like pubs and cinemas were still out. But I was desperate to get out of my apartment. I could go to places where it was OK to move around a lot. I found that my partner and I could go to some events together, as long as we knew they weren't going to be too busy.I went to a gig I knew wouldn't be too crowded and watched from the back.At this venue, I was sure to stay more than six feet apart from people.Marianne Guenot/InsiderAt the end of my treatment, I went to a short gig where I knew people were going to be far away from me. I had a few friends over for dinner. They had fun with the Geiger counter.The friends I was allowed to see in the last two weeks of my treatment had fun playing with my Geiger counter.Marianne GuenotI explained the situation to my friends before they came, and they were OK with the small exposure. Measuring your radioactivity turns out to be a fun party trick.Airports have detectors for radioactivity, so I got a special letter to explain myself.I had to travel with a special letter to attest that it is normal for me to be radioactive.Marianne Guenot/InsiderAfter 27 days I was allowed to go back to life as normal. But I was still giving off a slightly higher level of radiation than normal.I learned that airports have detectors to spot unnatural levels of radioactivity. So I was given a letter attesting that I was a little more radioactive than expected. Airports in Europe were no problem, but I set off a detector in a US airport.Looking pretty tired after setting off a radiation detector after a long-haul flight.Marianne Guenot/InsiderAfter a long flight from London, I set off gates at San Francisco International Airport that started beeping with bright lights. A border agent reviewed my documents and measured the radioactivity in my thyroid with a big Geiger counter.Thankfully, he didn't think I was a safety risk and let me through.The treatment worked!Back in Insider's London newsroom after the treatment.Marianne Guenot/InsiderAfter years of hyperthyroidism, my levels are down and almost back to normal!Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 11th, 2022

25 Amazing Summer Jobs For Teens And College Students

There are hundreds of job titles to choose from across dozens of industries — regardless of your age or stage of life. And, as we’ve previously discussed, this is even true for teens and college students. In an effort to make finding your first job easier for you, we’ve put together another list of 25 […] There are hundreds of job titles to choose from across dozens of industries — regardless of your age or stage of life. And, as we’ve previously discussed, this is even true for teens and college students. In an effort to make finding your first job easier for you, we’ve put together another list of 25 summer jobs you should consider. Moreover, a part-time job will allow you to earn‌ ‌some‌ ‌extra‌ ‌money‌ ‌and‌ ‌still‌ ‌have‌ ‌time‌ ‌for‌ ‌family,‌ ‌friends, vacations,‌ ‌or just chillaxing. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Outdoor nursery worker. In a nursery, you’d typically take care of plants, set up displays, help customers load supplies, and clean. You might also need to be able to lift heavy objects. ‌Nursery workers earn an average wage between $10 to $15 ‌an hour. Sports scorekeeper. Keeping score in youth sports leagues is another sports job teens or college students can do. ‌Scorekeepers normally earn minimum wage. To ensure accuracy, you must be attentive at all times. ‌The scorekeeper must also interact with coaches on occasion. ‌However, if you are a sports fan, this is an excellent entry-level job. Pool cleaner. According to the Association of Pool & Spa Professionals (APSP), there are 10.4 million residential and 309,000 public swimming pools in the United States. With that said, there’s definitely a need for pool cleaners. Not only is this perfect if you want to work outdoors, but it’s also not all that difficult. ‌In addition to cleaning the pool, pool cleaners‌ ‌change filters ‌and maintain‌ ‌PH‌ ‌levels. On average, a pool cleaner can make over $14 per hour. Swimming instructor. Do you enjoy swimming? ‌Then you might make the perfect swimming instructor. ‌Perhaps you could work in a local pool or recreation center. And, better yet? The average pay for a swimming instructor is $18.42 an hour. Apple picker. Take a look into picking apples if you live near an orchard. ‌Some apple-picking orchards pay their workers hourly. On average, apple pickers make $19 per hour. ‌In most cases, they are paid by the bushel or piece. ‌That is why becoming a fast picker pays well. ‌Consequently, apple picking is ‌a labor-intensive‌ ‌job. Parks & conservation area work. Whether you enjoy nature or plan to work in conservation or wildlife management in your future, working for conservation areas is one of the best summer jobs out there. Maintenance is a very necessary part of maintaining parks. And students are the best candidates for jobs such as: Keeping trails in good condition. Organizing‌ ‌park‌ ‌activities‌. Attending to parking lots and gates. Serving food or providing guest services on‌ ‌park‌ ‌grounds. Construction work. In the United States, you can work on construction sites once you reach 16. However, like being a farmhand, it has to be in a limited capacity. Therefore, working in construction is an even better summer job for college students on break. And, because of the manual labor involved, it’s the perfect job for anyone looking to stay-in-shape without paying for a gym membership. The average construction worker earns about $16 an hour. Grocery stocker/bagger. Working as a grocery stocker or bagger can also be a great summer job for teens. ‌Grocery stores have open positions in abundance, so students can easily find work in this field. And, if you’re high school, maybe you can continue working at the store part-time when school starts back up. A grocery stocker earns an average of $12.21 per‌ ‌hour. ‌In addition to stocking food items, setting up displays, removing expired food, and helping customers load groceries into their cars are common tasks. You may also be asked to collect carts or assist in other departments. Catering staff. Catering servers distribute food and beverages to guests at an event. ‌Before‌ ‌the‌ ‌event, you‌ ‌set up the tables and food arrangement, and you tell your guests which station or foods to serve. Because this can be inconsistent, this could be a way to supplement other incomes, particualairly if you’re already a waiter or waitress. Or, you could use the flexibility to still make money while also enjoying your summer. Catering servers make an average hourly wage of‌ ‌$12.21. Barista. Coffee shops offer teens a chance to earn money while interacting with the local community. Since baristas serve nonalcoholic drinks like coffee, tea, and soda, there is no minimum age requirement. But, you may also be serving pastries and sandwiches. Cafeteria, food concession, and coffee shop counter attendants made a median wage‌ ‌of $13.75 per hour. Kid’s party entertainment. If‌ ‌you’re into theater and entertaining kids, ‌consider working at children’s parties. ‌After‌ ‌all,‌ ‌parents‌ ‌love‌ ‌throwing ‌memorable parties for their kids. A business that hosts kids parties or an entertainment company might hire you. ‌Be prepared to stay in character throughout‌ ‌the‌ ‌party. However, the average‌ ‌hourly wage for a party host is $12.16 in the ‌United‌ ‌States. Animal shelter associate. Are you interested in‌ ‌working‌ ‌with‌ ‌animals? ‌Consider working for a local shelter. ‌As part of your duties, you will feed, walk, and clean the animals’ quarters. An animal shelter worker’s hourly wage ranges from $18 to $20 And. while this can be a meaningful job, it can be mentally and emotionally taxing. Why? ‌You’re caring for animals who‌ ‌have‌ ‌been‌ ‌abandoned‌ ‌or‌ ‌abused. Car detailer. This summer, you may be able to earn money by‌ ‌detailing‌ ‌cars. ‌Most detailing jobs are located‌ ‌at‌ ‌car‌ ‌dealerships or car washes. ‌Your duties will be to clean your vehicle‌ ‌inside‌ ‌and‌ ‌out. The work doesn’t vary much, which can get boring. But, you may be able to make over $14 an hour. And, this could actually be a side hustle that your can start from home. Valet. It is typical for older teens who have driving experience to be car valets. Many restaurants, shopping areas, and hotels offer car valet services to their guests. A valet parking attendant typically earns between $9 and $12 per hour. Additionally, you can earn tip money ‌as‌ ‌well. Work at or run a stand at a farmers market/flea market. Right down the street from me is a local farmer’s marker. And, as you might have guessed, most of the employees are teens or college students. But, if there isn’t a farm stand near you, consider working at a farmer’s market. Some of these are only open a couple of days a week. But, that could be good if you want a more flexible schedule. And, if there’s a flea market nearby you could also work someone else’s stand. Or, if you have your own items to sell, you could be for your own stand. If not, you could try your hand at garage flipping. Library page. As a teenager, being a library page is a good choice if you’re looking for a quiet job. Pages sort and store library items including books, movies, and magazines. A library page earns an average wage of $12.79 an‌ ‌hour in‌ ‌the‌ ‌United‌ ‌States. The downside? ‌Pages usually only work 12-15 hours per‌ ‌week. Court runner. Court runners and legal runners for law firms are good jobs if you’re interested in a legal. ‌Essentially, it’s errand work, which allows lawyers to focus on more pressing matters. ‌The bulk of the work involves picking up and delivering legal documents that can’t‌ ‌be‌ ‌faxed‌ ‌or‌ ‌emailed. But, you also be asked to go on lunch or coffee runs. A court runner makes an average hourly wage of‌ ‌$13.38. Window cleaner. Private homes, offices, and all kinds of buildings hire window cleaners. Why? Not only does this maintain the appearance, it also extends the life of the windows. ‌Along with windows, they also typically clean‌ ‌glass‌ ‌partitions,‌ ‌mirrors,‌ ‌and‌ ‌other‌ ‌glass‌ ‌surfaces. As‌ ‌long‌ ‌as‌ ‌you don’t mind heights or‌ ‌being‌ ‌outdoors, this is another job with exploring. Mainly because, on average, you can pull in $18.01 per hour. Housesitter. Even though people are planning to take fewer trips, 73% of Americans have summer travel plans. Because of this, there should be plenty of house sitting gigs available. When a homeowner is away, house sitters make sure the home remains occupied. Or, to make it appear that the homeowner is at home, they turn on the lights periodically. ‌They may‌ ‌also‌ ‌look after pets and do light maintenance. Rates for house sitting typically range between $25 and $30 per day. House painter. Over the summer and on weekends, you can make a lot of money working for a painting company. Just be aware, that this more ideal for those who don’t mind the manual labor involved. ‌According to PayScale, painters can earn an average hourly rate of $17.83. Hotel housekeeper. Cleaning and laundry are some of the things a hotel housekeeper or maid does for a living. Hotel housekeepers earn $13.58 per hour, according to the Bureau of Labor Statistics. ‌You can also work as a housekeeper in a hospital, nursing home, or continuing care retirement community. Average hourly rates at these businesses range from $13.60 to $16.82. Receptionist. U.S. News’ Best Jobs ranking lists receptionists among the best business jobs in the country. And, teenagers and college students can also attain these high-paying jobs. Answering the phone, greeting visitors and completing administrative duties may be part of the duties of employees hired by businesses and health care facilities. Receptionists make an average wage of $17 per hour, with an hourly rate ranging between $16 and $20. Work at a VR lounge, arcade, or laser tag park. I’m showing my age here. But, when I was younger, my friends and I loved going to the arcade and laser tag. And, I’ll even through in mini golf as well. Today, VR lounges are becoming increasingly. So, what not get paid doing something that you enjoy? Of course, this doesn’t mean playing games all day. Put if you enjoy the environment you may do things like collect money, operating and troubleshooting machines, or performing regular maintenance. Plus, these types of jobs are readily available in cities, suburban neighborhoods, and resort towns. So, if your family is spending the summer at the beach, why not make some bank while on vacation too? Salaries vary. But, the average arcade attendant makes about $13 per hour. IT jobs. You can have a fulfilling tech career before you’ve even landed your first job. Case in point, snagging an awesome entry-level jobs in IT during the summer. Some of the numerous options you have include” Webmaster Junior technology associate Junior data entry associate Entry-level IT tech support Online community manager Freelance. As a summer job, freelancing is great because you have plenty of free time. In addition to a literal break from school, you’ll have time to ‌‌‌refine ‌your craft‌. Additionally, you will have the opportunity to apply the things you learn in class. And, maybe this can lead to becoming a passive income source for years to come. Among the most popular freelancing ideas are: Freelance‌ ‌writer. Graphic or web design. Social media management. Virtual assistant. SEO Translation Photography Best of all? As a freelancer, you actually get to be your own boss. Frequently Asked Questions What summer jobs are available for teens and college? The kinds of jobs available and their pay rates will vary depending on where you live, the employer, and your age. ‌Occasionally, child labor laws come into play, so make sure you are familiar with the applicable laws. Accordingly, teens and college students can choose from a range of positions depending on their schedules, interests,‌ ‌and‌ ‌skill‌ ‌sets. For example, serving food in a restaurant or concession stand. Other examples would be a cashier, lifeguard, daycare assistant, or kennel attendant. How much money can I make? That depends. The‌ ‌federal minimum wage currently stands at $7.25 per hour in the United States. ‌Many states, however, have set higher wages. Washington, for instance, leads the country by offering a $14.49 minimum wage. Maine, Arizona, New Jersey, Connecticut, New York, California, and Massachusetts have minimum wage rates over $12. Remember, child labor laws may limit the amount of hours you can work. How can I land a summer job? Most‌ ‌teens‌ ‌don’t know how to apply‌ ‌for‌ ‌a‌ ‌job. ‌Nevertheless, it is an important skill that most people will need at some point in their lives. If you’ve never applied for a job before, just know that every business has its own hiring process. While each process is different, here are some general tips to know. Application process. For‌ ‌some‌ ‌businesses,‌ ‌you just need to walk in and ask for the application. ‌Many‌ ‌organizations, though, post their job listings online. ‌You can print‌ ‌one‌ ‌out‌ ‌and‌ ‌fill‌ ‌it‌ ‌out‌ ‌or submit it online. ‌No matter if you apply online or in person, it is wise to discuss the job in person with‌ ‌the‌ ‌hiring‌ ‌manager. The interview. Take time to educate yourself about the company and the job position you have applied for. ‌This‌ ‌‌‌lets ‌the‌ ‌employer‌ ‌you are informed and interested. Don’t forget to dress appropriately and demonstrate strong communication skills, like eye contact. And, at the end of the interview don’t be afraid to ask questions. After the interview. If you haven’t heard anything, follow up. ‌You could just give them a quick phone or email or just pop in to say hello. Don’t give up if you don’t get hired. ‌Every interview is an opportunity to learn. What should I do with the money? There’s nothing wrong with using your hard-earned money to have fun or buy something you need, like a new phone. However, you don’t want to spend all of your money on junk. You should also save some of your money for college expenses, purchasing a car, or in case of an emergency. But, where should you put your savings. Some suggestions would be the Alliant Kids Savings Account, BECU Early Saver youth savings account, Chime Savings Account, CIT Savings Build, or Bethpage Federal Credit Union Young Adult Savings. When choosing an account look for one that has a high annual percentage yield (APY). Also, you want an account that has no minimum balance to open or maintain the account. Article by Deanna Ritchie, Due About the Author Deanna Ritchie is a financial editor at Due. She has a degree in English Literature. She has written 1000+ articles on getting out of debt and mastering your finances. She has edited over 40,000 articles in her life. She has a passion for helping writers inspire others through their words. Deanna has also been an editor at Entrepreneur Magazine and ReadWrite. Updated on Jun 10, 2022, 3:43 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJun 10th, 2022

How to play multiplayer in Minecraft, using either a public server or one you create yourself

You can play Minecraft solo, but it's much more fun with friends. Here's how to play multiplayer in Minecraft: Java Edition. There are three ways to play multiplayer in Minecraft: Java Edition, two of which are free. You can join a public server, create your own, or purchase a Minecraft Realm. If your friends are on the same network, you can set up a LAN Minecraft server for local multiplayer. The simple yet limitless game of Minecraft has millions of players, so it's easy to find friends to play with. However, it's not always clear how to play multiplayer with your friends.How you play multiplayer Minecraft will vary depending on whether you have the newer, console-friendly Bedrock edition, or the classic Java edition. Whichever edition you have, you can only play with friends who have the same version.If that version is Java, there are few different ways to go about playing with your friends.Whether you feel up to the task of joining a public server or creating your own server (which is less scary than it sounds), want to host a local LAN server, or would prefer to use the paid "Realms" server-hosting option, hosting a multiplayer Minecraft game should only take a short time.Here's what you need to know.Quick tip: In order to play with others, you must all be playing the same version of Minecraft.How to play with friends on Minecraft: JavaServers are the basic building block of Minecraft's multiplayer mode. Anyone playing together will need to be on the same server.There are thousands of Minecraft servers already out there, which you and your friends can join to play together in moments — see the section below on how to join a friend's or a public server for more details. The only downside there is that you'll be sharing these servers with lots of other people you don't know.Minecraft servers can be massive.Jerma985/Twitch.tvIf you and your friends want to have a private game, you can create a Minecraft server for free. Just know that it takes some work, and whoever makes the server will need to have a good computer with a fast internet connection. If that doesn't fit your bill, check out one of the other options.Here's the steps you'll need to follow to either join an existing Minecraft: Java Edition server, or create your own multiplayer server.Join a server1. Launch Minecraft and select Multiplayer.Open the multiplayer menu.William Antonelli/Insider2. Click Add Server.3. In the Server Address box, enter the host server's address and click Done. This might be an IP address, or a URL.The server address might just be a website name.William Antonelli/Insider4. Wait for the server to connect, and when it appears in the list, select it and click Join Server.The server you connected to will appear at the top of the list.William Antonelli/InsiderCreate and join your own serverThe steps below describe how to set up a server on a Windows 10 PC. However, the steps should be similar, if not largely the same, for both Mac and Linux computers as well.1. Launch a web browser of your choice and navigate to minecraft.net/download. Scroll down and click Java Edition Server.Click the link beside the word "download."Kyle Wilson/Insider2. On the next page, find and download the Minecraft server software, putting it somewhere that you'll be able to find it. The file will have a .jar extension.Click the link beside the word “download”.Kyle Wilson/Insider3. Create a new folder on your computer and name it whatever you like, then place the .jar file you downloaded inside of it. This is where you'll keep all your server files.Make a folder to organize your server files.Emma Witman/Insider4. Next, you'll need to create a plain text document. Right-click in the folder and select New, then Text Document. Name the text document "start.txt."Make sure you select "Text Document," and not "Rich Text Format."Emma Witman/InsiderQuick tip: On a Mac, you can make a .txt document using the TextEdit application. In Linux, you can use the "cat" command in the terminal.5. Navigate back to the Minecraft server download webpage. Copy the command text, which reads:java -Xmx1024M -Xms1024M -jar minecraft_server.1.18.2.jar noguiNote that the numbers near the end will differ based on the most current version of Minecraft.Paste the string of command text into your start.txt document.Kyle Wilson/Insider6. Paste the string of command text into your start.txt document.7. Within the string of command text, you'll see the words "minecraft_server.1.18.2.jar." You'll need to rename that portion of the text "server.jar." That means that the new line of code will now read:java -Xmx1024M -Xms1024M -jar server.jar nogui8. You can also change the RAM allocation for your server in this line of code. The more RAM you give it, the smoother your server can run, but the more stress it'll put on the computer.9. The RAM is determined by the first two numbers in the line of code, which are amounts of RAM in megabytes (MB). By default, it's set to 1024MB of RAM, or one gigabyte (GB).A five or more player server should have at least 2GB of RAM allocated, for example, which you can set by changing the code to:java -Xmx2048M -Xms2048M -jar server.jar noguiQuick tip: Unlike with storage space, when it comes to RAM, one gigabyte equals 1,024 megabytes – not 1,000. As such, set the RAM amount in multiples of 1,024 megabytes.10. Click File, then "Save As…" and where you can select "Save as type" from a drop-down menu, select "All Files (*.*) and name the file "start.bat."You can change the format of a file using the "Save As…" command.Emma Witman/Insider11. Delete the "start.txt" file.12. Double click the "start.bat" file to run it, opening a black command prompt window that will close automatically when the .bat file is complete.13. You'll see some new items in the server folder, including a "eula.txt" document, short for "End User License Agreement." Open the document, and change the line of code that says "eula=false" to read "eula=true."You can't proceed with your server until you've "signed" the end user license agreement by setting it to "true."Emma Witman/Insider14. Run the start.bat file again. The wait will be longer than before, as your server's world is being generated this time.Be patient, as depending on your computer, creating your server may take several minutes.Emma Witman/InsiderTechnically, your server is ready to fire up now, and you'll also see a few new files in your server folder, including the "server.properties" file where you can customize your game. However, right now your server is only accessible to devices using the same internet connection as you. You'll have to set up port forwarding to open up your Minecraft server to users outside your local network.There's a few different ways to set up port forwarding, and instructions you'll need specific to your router can be found here. Once you've set it up, give your friends your IP address, and they'll be able to join.In the meantime, however, here's how you can start exploring your new server.1. Launch Minecraft while your server is open and running, and select Multiplayer.2. Select Add Server in the bottom-right corner.3. In the Server Address field, simply put the number "0" or the word "localhost".You can access your own server at any time.Emma Witman/InsiderUse a LAN serverThis method is perfect if you're trying to play with siblings, roommates, or just friends at the same house. LAN servers, also called local multiplayer servers, let you play together with anyone on the same Wi-Fi or ethernet network.Here's how to launch and join a local multiplayer game: 1. One of the players should launch a solo game world and enter the pause menu, where they'll select Open to LAN.You'll need to open up LAN connections.Emma Witman/Insider2. In the menu that opens, select the game mode and whether to allow cheats, then click Start LAN World.Enable LAN and start hosting a local world.Emma Witman/Insider3. The menu will then close, and the player will be shown a five-digit "port" number. Mark this number down. If it's disappeared, press T to open the chat box and find it again.Note the port number, as it disappears moments after appearing.Emma Witman/Insider4. The other player or players on the same network should launch their Minecraft, but rather than jump into a world, click the Multiplayer option from the main menu.5. Minecraft will automatically start scanning for games on the shared local network. Click Join Server when the right world appears.6. If it doesn't find the server, the players should click Direct Connection. In this menu, under Server Address, enter the IP address of the computer hosting the server, followed by a colon (:) and the five-digit port number.So for example, it might look like:168.212.226.204:587287. Click Join Server.If your game can't find the server, try a direct connection.Emma Witman/InsiderRead the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 10th, 2022

Mitch McConnell demands House Democrats pass a bill strengthening security for Supreme Court justices "before the sun sets today" after man who threatened to kill Kavanaugh arrested

The man who threatened Kavanaugh is adding new urgency to passing a bill that sailed through the Senate almost a month ago. Senate Minority Leader Mitch McConnell at his weekly press conference on June 7, 2022.Drew Angerer/Getty Images The Senate easily passed a one-page bill extending security to Supreme Court justices' families almost a month ago. That came after the leak of a draft opinion showing the court poised to overturn Roe v. Wade. Now, McConnell is demanding the House finally pass the bill "before the sun sets today." Senate Minority Leader Mitch McConnell is demanding the House pass a one-page bill that increases security protections for Supreme Court justices and their families following the arrest of an armed man who made threats against Justice Brett Kavanaugh on Wednesday."House Democrats need to stop their multi-week blockade against the Supreme Court security bill and pass it before the sun sets today," the top Republican said in remarks on the Senate floor.The Senate unanimously passed the bipartisan bill last month amid the possibility of violence against justices after a leaked draft opinion showed the Supreme Court may overturn Roe v. Wade, the landmark ruling that legalized abortion nationwide nearly 50 years ago. The draft triggered a wave of protests outside the Supreme Court and the justices' homes, including Kavanaugh's, last month. The legislation — sponsored by Republican Sen. John Cornyn of Texas and Democratic Sen. Chris Coons of Delaware — would extend protections by Supreme Court Police to immediate family members of the justices.The bill gained renewed attention on Capitol Hill on Wednesday after police officers arrested a man near Kavanaugh's Chevy Chase, Maryland home, who said he wanted to kill a Supreme Court justice.Authorities found numerous weapons and burglary tools, including a tactical knife, a pistol, zip ties, and a crowbar, in a suitcase and backpack seized from the man, who was identified as 26-year-old Nicholas John Roske of California, according to court documents.Roske told authorities he traveled from California "to kill a specific United States Supreme Court Justice," per court documents. Kavanaugh's name is not mentioned in the records, but a source close to the investigation told Insider that Roske went to the justice's home with the "intent to kill" him.Police arrested Roske on a street near Kavanaugh's home around 1:50 a.m. after he called 911 on himself and told dispatchers "he was having suicidal thoughts and had a firearm in his suitcase," court records show. He was taken to Montgomery County jail, a police department spokesperson said.Roske told a Montgomery County police detective "that he was upset about the leak of a recent Supreme Court draft decision regarding the right to abortion as well as the recent school shooting in Uvalde, Texas," court documents say.McConnell urged the House to take action in light of the "extremely disturbing" news on Wednesday, he said. "This is exactly why the Senate passed legislation very shortly after the leak to enhance the police protection for the Justices and their families," McConnell said in floor remarks. "This is commonsense, non-controversial legislation that passed this chamber unanimously.""But House Democrats have spent weeks blocking it. The House Democratic majority has refused to take it up," he added. "That needs to change. Right now. House Democrats must pass this bill and they must do it today."—ABC News Politics (@ABCPolitics) June 8, 2022House Democrats have insisted that they want to extend the security protections to Supreme Court clerks and staffers as well, which Cornyn has taken issue with. The Texas Republican argued last month that the bill included "divisive provisions," including "potentially extending police protection to the very person who leaked the draft opinion."Asked about the progress of the legislation on Wednesday, Democratic House Majority Leader Steny Hoyer said it could be passed "relatively soon," and that he'd discussed the bill with both Cornyn and Coons this week. Screenshot of the entirety of the Supreme Court Policy Parity Act.Congress.govRead the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 8th, 2022

Check out these 41 pitch decks fintechs disrupting trading, investing, and banking used to raise millions in funding

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech funding has been on a tear.In 2021, fintech funding hit a record $132 billion globally, according to CB Insights, more than double 2020's mark.Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. New twists on digital bankingZach Bruhnke, cofounder and CEO of HMBradleyHMBradleyConsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series APersonal finance is only a text awayYinon Ravid, the chief executive and cofounder of Albert.AlbertThe COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalG 'A bank for immigrants'Priyank Singh and Rohit Mittal are the cofounders of Stilt.StiltRohit Mittal remembers the difficulties he faced when he first arrived in the United States a decade ago as a master's student at Columbia University.As an immigrant from India, Mittal had no credit score in the US and had difficulty integrating into the financial system. Mittal even struggled to get approved to rent an apartment and couch-surfed until he found a roommate willing to offer him space in his apartment in the New York neighborhood Morningside Heights.That roommate was Priyank Singh, who would go on to become Mittal's cofounder when the two started Stilt, a financial-technology company designed to address the problems Mittal faced when he arrived in the US.Stilt, which calls itself "a bank for immigrants," does not require a social security number or credit history to access its offerings, including unsecured personal loans.Instead of relying on traditional metrics like a credit score, Stilt uses data such as education and employment to predict an individual's future income stability and cash flow before issuing a loan. Stilt has seen its loan volume grow by 500% in the past 12 months, and the startup has loaned to immigrants from 160 countries since its launch. Here are the 15 slides Stilt, which calls itself 'a bank for immigrants,' used to raise a $14 million Series AAn IRA for alternativesHenry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar.Rocket DollarFintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionA trading app for activismAntoine Argouges, CEO and founder of TulipshareTulipshareAn up-and-coming fintech is taking aim at some of the world's largest corporations by empowering retail investors to push for social and environmental change by pooling their shareholder rights.London-based Tulipshare lets individuals in the UK invest as little as one pound in publicly-traded company stocks. The upstart combines individuals' shareholder rights with other like-minded investors to advocate for environmental, social, and corporate governance change at firms like JPMorgan, Apple, and Amazon.The goal is to achieve a higher number of shares to maximize the number of votes that can be submitted at shareholder meetings. Already a regulated broker-dealer in the UK, Tulipshare recently applied for registration as a broker-dealer in the US. "If you ask your friends and family if they've ever voted on shareholder resolutions, the answer will probably be close to zero," CEO and founder Antoine Argouges told Insider. "I started Tulipshare to utilize shareholder rights to bring about positive corporate change that has an impact on people's lives and our planet — what's more powerful than money to change the system we live in?"Check out the 14-page pitch deck from Tulipshare, a trading app that lets users pool their shareholder votes for activism campaignsDigital tools for independent financial advisorsJason Wenk, founder and CEO of AltruistAltruistJason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightRethinking debt collection Jason Saltzman, founder and CEO of ReliefReliefFor lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process.  Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundHelping small banks lendTKCollateralEdgeFor large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies — typically those with annual revenues ranging up to $1 billion — are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks — typically those with between $1 billion and $50 billion in assets — to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed roundA new way to assess creditworthinessPinwheel founders Curtis Lee, Kurt Lin, and Anish Basu.PinwheelGrowing up, Kurt Lin never saw his father get frustrated. A "traditional, stoic figure," Lin said his father immigrated to the United States in the 1970s. Becoming part of the financial system proved even more difficult than assimilating into a new culture.Lin recalled visiting bank after bank with his father as a child, watching as his father's applications for a mortgage were denied due to his lack of credit history. "That was the first time in my life I really saw him crack," Lin told Insider. "The system doesn't work for a lot of people — including my dad," he added. Lin would find a solution to his father's problem years later while working with Anish Basu, and Curtis Lee on an automated health savings account. The trio realized the payroll data integrations they were working on could be the basis of a product that would help lenders work with consumers without strong credit histories."That's when the lightbulb hit," said Lin, Pinwheel's CEO.In 2018, Lin, Basu, and Lee founded Pinwheel, an application-programming interface that shares payroll data to help both fintechs and traditional lenders serve consumers with limited or poor credit, who have historically struggled to access financial products. Here's the 9-page deck that Pinwheel, a fintech helping lenders tap into payroll data to serve consumers with little to no credit, used to raise a $50 million Series BAn alternative auto lenderTricolorAn alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investors A new way to access credit The TomoCredit teamTomoCreditKristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AHelping streamline how debts are repaidMethod Financial cofounders Jose Bethancourt and Marco del Carmen.Method FinancialWhen Jose Bethancourt graduated from the University of Texas at Austin in May 2019, he faced the same question that confronts over 43 million Americans: How would he repay his student loans?The problem led Bethancourt on a nearly two-year journey that culminated in the creation of a startup aimed at making it easier for consumers to more seamlessly pay off all kinds of debt.  Initially, Bethancourt and fellow UT grad Marco del Carmen built GradJoy, an app that helped users better understand how to manage student loan repayment and other financial habits. GradJoy was accepted into Y Combinator in the summer of 2019. But the duo quickly realized the real benefit to users would be helping them move money to make payments instead of simply offering recommendations."When we started GradJoy, we thought, 'Oh, we'll just give advice — we don't think people are comfortable with us touching their student loans,' and then we realized that people were saying, 'Hey, just move the money — if you think I should pay extra, then I'll pay extra.' So that's kind of the movement that we've seen, just, everybody's more comfortable with fintechs doing what's best for them," Bethancourt told Insider. Here is the 11-slide pitch deck Method Financial, a Y Combinator-backed fintech making debt repayment easier, used to raise $2.5 million in pre-seed fundingQuantum computing made easyQC Ware CEO Matt Johnson.QC WareEven though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant modelsKirat Singh and Mark Higgins, Beacon's cofounders.BeaconA fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOA new data feed for bond tradingMark Lennihan/APFor years, the only way investors could figure out the going price of a corporate bond was calling up a dealer on the phone. The rise of electronic trading has streamlined that process, but data can still be hard to come by sometimes. A startup founded by a former Goldman Sachs exec has big plans to change that. BondCliQ is a fintech that provides a data feed of pre-trade pricing quotes for the corporate bond market. Founded by Chris White, the creator of Goldman Sachs' defunct corporate-bond-trading system, BondCliQ strives to bring transparency to a market that has traditionally kept such data close to the vest. Banks, which typically serve as the dealers of corporate bonds, have historically kept pre-trade quotes hidden from other dealers to maintain a competitive advantage.But tech advancements and the rise of electronic marketplaces have shifted power dynamics into the hands of buy-side firms, like hedge funds and asset managers. The investors are now able to get a fuller picture of the market by aggregating price quotes directly from dealers or via vendors.Here's the 9-page pitch deck that BondCliQ, a fintech looking to bring more data and transparency to bond trading, used to raise its Series AFraud prevention for lenders and insurersFiordaliso/Getty ImagesOnboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews FakespotMarketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series AE-commerce focused business bankingMichael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo.Kristelle Boulos PhotographyBusiness banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series AShopify for embedded financeProductfy CEO and founder, Duy VoProductfyProductfy is looking to break into embedded finance by becoming the Shopify of back-end banking services.Embedded finance — integrating banking services in non-financial settings — has taken hold in the e-commerce world. But Productfy is going after a different kind of customer in churches, universities, and nonprofits.The San Jose, Calif.-based upstart aims to help non-finance companies offer their own banking products. Productfy can help customers launch finance features in as little as a week and without additional engineering resources or background knowledge of banking compliance or legal requirements, Productfy founder and CEO Duy Vo told Insider. "You don't need an engineer to stand up Shopify, right? You can be someone who's just creating art and you can use Shopify to build your own online store," Vo said, adding that Productfy is looking to take that user experience and replicate it for banking services.Here's the 15-page pitch deck Productfy, a fintech looking to be the Shopify of embedded finance, used to nab a $16 million Series ADeploying algorithms and automation to small-business financingJustin Straight and Bernard Worthy, LoanWell co-foundersLoanWellBernard Worthy and Justin Straight, the founders of LoanWell, want to break down barriers to financing for small and medium-size businesses — and they've got algorithms and automation in their tech arsenals that they hope will do it.Worthy, the company's CEO, and Straight, its chief operating and financial officer, are powering community-focused lenders to fill a gap in the SMB financing world by boosting access to loans under $100,000. And the upstart is known for catching the attention, and dollars, of mission-driven investors. LoanWell closed a $3 million seed financing round in December led by Impact America Fund with participation from SoftBank's SB Opportunity Fund and Collab Capital.LoanWell automates the financing process — from underwriting and origination, to money movement and servicing — which shaves down an up-to-90-day process to 30 days or even same-day with some LoanWell lenders, Worthy said. SMBs rely on these loans to process quickly after two years of financial uncertainty. But the pandemic illustrated how time-consuming and expensive SMB financing can be, highlighted by efforts like the federal government's Paycheck Protection Program.Community banks, once the lifeline to capital for many local businesses, continue to shutter. And demands for smaller loan amounts remain largely unmet. More than half of business-loan applicants sought $100,000 or less, according to 2018 data from the Federal Reserve. But the average small-business bank loan was closer to six times that amount, according to the latest data from a now discontinued Federal Reserve survey.Here's the 14-page pitch deck LoanWell used to raise $3 million from investors like SoftBank.Catering to 'micro businesses'Stefanie Sample is the founder and CEO of FundidFundidStartups aiming to simplify the often-complex world of corporate cards have boomed in recent years.Business-finance management startup Brex was last valued at $12.3 billion after raising $300 million last year. Startup card provider Ramp announced an $8.1 billion valuation in March after growing its revenue nearly 10x in 2021. Divvy, a small business card provider, was acquired by Bill.com in May 2021 for approximately $2.5 billion.But despite how hot the market has gotten, Stefanie Sample said she ended up working in the space by accident. Sample is the founder and CEO of Fundid, a new fintech that provides credit and lending products to small businesses.This May, Fundid announced a $3.25 million seed round led by Nevcaut Ventures. Additional investors include the Artemis Fund and Builders and Backers. The funding announcement capped off the company's first year: Sample introduced the Fundid concept in April 2021, launched its website in May, and began raising capital in August."I never meant to do Fundid," Sample told Insider. "I never meant to do something that was venture-backed."Read the 12-page deck used by Fundid, a fintech offering credit and lending tools for 'micro businesses'Embedded payments for SMBsThe Highnote teamHighnoteBranded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingHelping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping.ComplYantAfter 14 years in tax accounting, Shiloh Johnson had formed a core philosophy around corporate accounting: everyone deserves to understand their business's money and business owners need to be present in their bookkeeping process.She wanted to help small businesses understand "this is why you need to do what you're doing and why you have to change the way you think about tax and be present in your bookkeeping process," she told Insider. The Los Angeles native wanted small businesses to not only understand business tax no matter their size but also to find the tools they needed to prepare their taxes in one spot. So Johnson developed a software platform that provides just that.The 13-page pitch deck ComplYant used to nab $4 million that details the tax startup's plan to be Turbotax, Quickbooks, and Xero rolled into one for small business ownersInvoice financing for SMBsStacey Abrams and Lara Hodgson, Now co-foundersNowAbout a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain — but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system.  "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionCheckout made easyRyan Breslow.Ryan BreslowAmazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers — currently over 5.6 million — that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DPayments infrastructure for fintechsQolo CEO and co-founder Patricia MontesiQoloThree years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders — who together had more than a century of combined industry experience — to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ABetter use of payroll dataAtomic's Head of Markets, Lindsay DavisAtomicEmployees at companies large and small know the importance — and limitations — of how firms manage their payrolls. A new crop of startups are building the API pipes that connect companies and their employees to offer a greater level of visibility and flexibility when it comes to payroll data and employee verification. On Thursday, one of those names, Atomic, announced a $40 million Series B fundraising round co-led by Mercato Partners and Greylock, alongside Core Innovation Capital, Portage, and ATX Capital. The round follows Atomic's Series A round announced in October, when the startup raised a $22 million Series A from investors including Core Innovation Capital, Portage, and Greylock.Payroll startup Atomic just raised a $40 million Series B. Here's an internal deck detailing the fintech's approach to the red-hot payments space.Saving on vendor invoicesHoward Katzenberg, Glean's CEO and cofounderGleanWhen it comes to high-flying tech startups, headlines and investors typically tend to focus on industry "disruption" and the total addressable market a company is hoping to reach. Expense cutting as a way to boost growth typically isn't part of the conversation early on, and finance teams are viewed as cost centers relative to sales teams. But one fast-growing area of business payments has turned its focus to managing those costs. Startups like Ramp and established names like Bill.com have made their name offering automated expense-management systems. Now, one new fintech competitor, Glean, is looking to take that further by offering both automated payment services and tailored line-item accounts-payable insights driven by machine-learning models. Glean's CFO and founder, Howard Katzenberg, told Insider that the genesis of Glean was driven by his own personal experience managing the finance teams of startups, including mortgage lender Better.com, which Katzenberg left in 2019, and online small-business lender OnDeck. "As a CFO of high-growth companies, I spent a lot of time focused on revenue and I had amazing dashboards in real time where I could see what is going on top of the funnel, what's going on with conversion rates, what's going on in terms of pricing and attrition," Katzenberg told Insider. See the 15-slide pitch deck Glean, a startup using machine learning to find savings in vendor invoices, used to raise $10.8 million in seed fundingReal-estate management made easyAgora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPOAgoraFor alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundAccess to commercial real-estate investing LEX Markets cofounders and co-CEOs Drew Sterrett and Jesse Daugherty.LEX MarketsDrew Sterrett was structuring real-estate deals while working in private equity when he realized the inefficiencies that existed in the market. Only high-net worth individuals or accredited investors could participate in commercial real-estate deals. If they ever wanted to leave a partnership or sell their stake in a property, it was difficult to find another investor to replace them. Owners also struggled to sell minority stakes in their properties and didn't have many good options to recapitalize an asset if necessary.In short, the market had a high barrier to entry despite the fact it didn't always have enough participants to get deals done quickly. "Most investors don't have access to high-quality commercial real-estate investments. How do we have the oldest and largest asset class in the world and one of the largest wealth creators with no public and liquid market?" Sterrett told Insider. "It sort of seems like a no-brainer, and that this should have existed 50 or 60 years ago."This 15-page pitch deck helped LEX Markets, a startup making investing in commercial real estate more accessible, raise $15 millionInsurance goes digitalJamie Hale, CEO and cofounder of LadderLadderFintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionData science for commercial insuranceTanner Hackett, founder and CEO of CounterpartCounterpartThere's been no shortage of funds flowing into insurance-technology companies over the past few years. Private-market funding to insurtechs soared to $15.4 billion in 2021, a 90% increase compared to 2020. Some of the most well-known consumer insurtech names — from Oscar (which focuses on health insurance) to Metromile (which focuses on auto) — launched on the public markets last year, only to fall over time or be acquired as investors questioned the sustainability of their business models. In the commercial arena, however, the head of one insurtech company thinks there is still room to grow — especially for those catering to small businesses operating in an entirely new, pandemic-defined environment. "The bigger opportunity is in commercial lines," Tanner Hackett, the CEO of management liability insurer Counterpart, told Insider."Everywhere I poke, I'm like, 'Oh my goodness, we're still in 1.0, and all the other businesses I've built were on version three.' Insurance is still in 1.0, still managing from spreadsheets and PDFs," added Hackett, who also previously co-founded Button, which focuses on mobile marketing. See the 8-page pitch deck Counterpart, a startup disrupting commercial insurance with data science, used to raise a $30 million Series BSmarter insurance for multifamily propertiesItai Ben-Zaken, cofounder and CEO of Honeycomb.HoneycombA veteran of the online-insurance world is looking to revolutionize the way the industry prices risk for commercial properties with the help of artificial intelligence.Insurance companies typically send inspectors to properties before issuing policies to better understand how the building is maintained and identify potential risks or issues with it. It's a process that can be time-consuming, expensive, and inefficient, making it hard to justify for smaller commercial properties, like apartment and condo buildings.Insurtech Honeycomb is looking to fix that by using AI to analyze a combination of third-party data and photos submitted by customers through the startup's app to quickly identify any potential risks at a property and more accurately price policies."That whole physical inspection thing had really good things in it, but it wasn't really something that is scalable and, it's also expensive," Itai Ben-Zaken, Honeycomb's cofounder and CEO, told Insider. "The best way to see a property right now is Google street view. Google street view is usually two years old."Here's the 10-page Series A pitch deck used by Honeycomb, a startup that wants to revolutionize the $26 billion market for multifamily property insuranceHelping freelancers with their taxesJaideep Singh is the CEO and co-founder of FlyFin, an AI-driven tax preparation software program for freelancers.FlyFinSome people, particularly those with families or freelancing businesses, spend days searching for receipts for tax season, making tax preparation a time consuming and, at times, taxing experience. That's why in 2020 Jaideep Singh founded FlyFin, an artificial-intelligence tax preparation program for freelancers that helps people, as he puts it, "fly through their finances." FlyFin is set up to connect to a person's bank accounts, allowing the AI program to help users monitor for certain expenses that can be claimed on their taxes like business expenditures, the interest on mortgages, property taxes, or whatever else that might apply. "For most individuals, people have expenses distributed over multiple financial institutions. So we built an AI platform that is able to look at expenses, understand the individual, understand your profession, understand the freelance population at large, and start the categorization," Singh told Insider.Check out the 7-page pitch deck a startup helping freelancers manage their taxes used to nab $8 million in fundingDigital banking for freelancersJGalione/Getty ImagesLance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysSoftware for managing freelancersWorksome cofounder and CEO Morten Petersen.WorksomeThe way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon.HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalPay-as-you-go compliance for banks, fintechs, and crypto startupsNeepa Patel, Themis' founder and CEOThemisWhen Themis founder and CEO Neepa Patel set out to build a new compliance tool for banks, fintech startups, and crypto companies, she tapped into her own experience managing risk at some of the nation's biggest financial firms. Having worked as a bank regulator at the Office of the Comptroller of the Currency and in compliance at Morgan Stanley, Deutsche Bank, and the enterprise blockchain company R3, Patel was well-placed to assess the shortcomings in financial compliance software. But Patel, who left the corporate world to begin work on Themis in 2020, drew on more than just her own experience and frustrations to build the startup."It's not just me building a tool based on my personal pain points. I reached out to regulators. I reached out to bank compliance officers and members in the fintech community just to make sure that we're building it exactly how they do their work," Patel told Insider. "That was the biggest problem: No one built a tool that was reflective of how people do their work."Check out the 9-page pitch deck Themis, which offers pay-as-you-go compliance for banks, fintechs, and crypto startups, used to raise $9 million in seed fundingConnecting startups and investorsHum Capital cofounder and CEO Blair SilverbergHum CapitalBlair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Helping LatAm startups get up to speedKamino cofounders Gut Fragoso, Rodrigo Perenha, Benjamin Gleason, and Gonzalo ParejoKaminoThere's more venture capital flowing into Latin America than ever before, but getting the funds in founders' hands is not exactly a simple process.In 2021, investors funneled $15.3 billion into Latin American companies, more than tripling the previous record of $4.9 billion in 2019. Fintech and e-commerce sectors drove funding, accounting for 39% and 25% of total funding, respectively.  However, for many startup founders in the region who have successfully sold their ideas and gotten investors on board, there's a patchwork of corporate structuring that's needed to access the funds, according to Benjamin Gleason, who was the chief financial officer at Groupon LatAm prior to cofounding Brazil-based fintech Kamino.It's a process Gleason and his three fellow Kamino cofounders have been through before as entrepreneurs and startup execs themselves. Most often, startups have to set up offshore financial accounts outside of Brazil, which "entails creating a Cayman [Islands] holding company, a Delaware LLC, and then connecting it to a local entity here and also opening US bank accounts for the Cayman entity, which is not trivial from a KYC perspective," said Gleason, who founded open-banking fintech Guiabolso in Sao Paulo. His partner, Gonzalo Parejo, experienced the same toils when he founded insurtech Bidu."Pretty much any international investor will usually ask for that," Gleason said, adding that investors typically cite liability issues."It's just a massive amount of bureaucracy, complexity, a lot of time from the founders. All of this just to get the money from the investor that wants to give them the money," he added.Here's the 8-page pitch deck Kamino, a fintech helping LatAm startups with everything from financing to corporate credit cards, used to raise a $6.1M pre-seed roundThe back-end tech for beautyDanielle Cohen-Shohet, CEO and founder of GlossGeniusGlossGeniusDanielle Cohen-Shohet might have started as a Goldman Sachs investment analyst, but at her core she was always a coder.After about three years at Goldman Sachs, Cohen-Shohet left the world of traditional finance to code her way into starting her own company in 2016. "There was a period of time where I did nothing, but eat, sleep, and code for a few weeks," Cohen-Shohet told Insider. Her technical edge and knowledge of the point-of-sale payment space led her to launch a software company focused on providing behind-the-scenes tech for beauty and wellness small businesses.Cohen-Shohet launched GlossGenius in 2017 to provide payments tech for hair stylists, nail technicians, blow-out bars, and other small businesses in the space.Here's the 11-page deck GlossGenius, a startup that provides back-end tech for the beauty industry, used to raise $16 millionRead the original article on Business Insider.....»»

Category: dealsSource: nytJun 6th, 2022

The Complexity Trap

The Complexity Trap Via The Consciousness of Sheep blog, Let’s talk about “value.”  Value, at its simplest, is merely the consequences of acting upon the world in a manner which “improves” (some might say despoils) some part of it.  If, for example, someone takes a pile of timber, a saw and some glue and nails, and then turns it into a table, they have added value.  The same is true of goods and services across the economy.  Wherever people act to improve the goods and services that we collectively consume, value is added… governments even attempt to tax that additional value via, well, Value Added Tax. Value also has a clear relationship to another key factor in the way an economy works – productivity.  We have all been brought up to understand that the simplest way of growing an economy is to improve productivity.  In effect, to do more for less, or to put it another way, to make the addition of value more efficient. In the coming months, as the western economies crater as a consequence of the follies of their elites, we are going to hear a great many siren voices urging us to improve our collective productivity in order to pull our stagnating economies out of the doldrums and to put an end to the cost-of-living crisis.  And yet, among the biggest mistakes made by almost all of us is the false attribution of value and productivity. For many on the political left, and at least some on the right, labour is the source of value – a view which can be traced back to classical liberal economists such as Adam Smith and David Ricardo.  In classic Marxist thinking, capitalism uses the payment of wages for workers’ time as a means of converting the surplus value they create into profit.  Politics in a capitalist economy then becomes an ongoing struggle over the respective shares of surplus value divided into the wages of workers and the profits of capitalists.  According to Ricardo: “The value of a commodity, or the quantity of any other commodity for which it will exchange, depends on the relative quantity of labour which is necessary for its production…” Smith qualified this by arguing it was labour time rather than quantity which mattered: “If among a nation of hunters, for example, it usually costs twice the labour to kill a beaver which it does to kill a deer, one beaver should naturally exchange for, or be worth two deer. It is natural that what is usually the produce of two days’ or two hours’ labour, should be worth double of what is usually the produce of one day’s or one hour’s labour.” This line of thinking was flawed, since it allowed that the product of a bad or slow worker would have more value than the product of a good and fast worker.  Marx was to tidy the thinking up by insisting that it was “socially necessary labour time” which mattered.  The value of our wooden table was not the time our worker took to construct it, but rather the average time that a skilled carpenter would take to construct a wooden table.  The other useful line of thought offered by Marx was that there is a difference between exchange and use value.  This, for example, helps us understand why a Chippendale table might sell for a much higher amount than a plain utilitarian table.  In monetary terms, the value of an item is merely whatever someone is prepared to pay for it.  Nevertheless, there was something about socially necessary labour time which set a minimum value below which an item is neither worth selling nor even constructing. Labour, in its naked form, however, is an incredibly weak source of value.  And as Marx began to see later in his life – when Britain’s industrialisation had matured significantly – industrial machinery clearly added far more value than labour alone. (Although Marx refused to take this observation to its logical conclusion since it contradicted his class-based politics).  In any case, Marx was wrong.  It was not the machines themselves which were the source of value, but the coal-power which drove them.  Nobel Prize-winning chemist and contrarian economist Frederick Soddy arrived at the real source of value in the early 1930s: “Still one point seemed lacking to account for the phenomenal outburst of activity that followed in the Western world the invention of the steam engine, for it could not be ascribed simply to the substitution of inanimate energy for animal labour. The ancients used the wind in navigation and drew upon water-power in rudimentary ways. The profound change that then occurred seemed to be rather due to the fact that, for the first time in history, men began to tap a large capital store of energy and ceased to be entirely dependent on the revenue of sunshine. All the requirements of pre-scientific men were met out of the solar energy of their own times. The food they ate, the clothes they wore, and the wood they burnt could be envisaged, as regards the energy content which gives them use-value, as stores of sunlight. But in burning coal one releases a store of sunshine that reached the earth millions of years ago. In so far as it can be used for the purposes of life, the scale of living may be, to almost any necessary extent, augmented, devotion to the primitive ideas of the peoples of Kirkcaldy [i.e., Adam Smith and his followers] and Judea notwithstanding [i.e., economics is more religion than science]. “Then came the odd thought about fuel considered as a capital store, out of the consumption of which our whole civilisation, in so far as it is modern, has been built. You cannot burn it and still have it, and once burnt there is no way, thermodynamically, of extracting perennial interest from it. Such mysteries are among the inexorable laws of economics rather than of physics. With the doctrine of evolution, the real Adam turns out to have been an animal, and with the doctrine of energy the real capitalist proves to be a plant. The flamboyant era through which we have been passing is due not to our own merits, but to our having inherited accumulations of solar energy from the carboniferous era, so that life for once has been able to live beyond its income. Had it but known it, it might have been a merrier age!” Insofar as the physiocrats, living during the heyday of pre-industrial landed estates, saw the land as the source of value it is because of the way the plants which grow on the land are able to photosynthesize solar energy and convert it into hydrocarbons which can feed humans directly or feed the animals which humans consume for fat and protein.  In the same way, it was not so much the industrial machinery – still less the mass army of industrial workers – which provided the eighteenth and nineteenth century economy with massive quantities of surplus value so much as the fossilised solar energy locked up in the form of the coal which provided the energy behind the industrial economy. Soddy also pointed to what was then the future predicament of fossil fuel depletion.  Not only did we burn our way through the once-and-done “capital store” of accessible coal, but from the early twentieth century we set about the rapid depletion of oil and gas too.  It is the surplus useful energy (sometimes referred to as exergy) – the amount left over after we have obtained the energy to begin with – which is the source of the surplus value generated in the industrial economy.  And the huge quantities involved explain why a large part of the population of western states have enjoyed a standard of living which would be the envy of kings, and, indeed, why we are ruled over by a handful of godzillionaires whose wealth is so vast as to make the Gods of Olympus jealous…  which is something of a problem because the world recently passed peak exergy. That is, while there may be roughly as much fossil fuel in the ground as we have consumed in the course of three centuries of industrialisation, we also burned our way through the cheap and easy deposits first.  Consider this an issue of “socially necessary exergy” – nobody was going to buy or even extract oil from deep beneath the North Sea or from hydraulically fractured shale deposits while it was still possible to obtain all the oil you needed by knocking a pipe into the ground.  We will, of course, continue to extract ever more difficult and expensive fossil fuels, but their extraction will remorselessly consume an ever-greater part of the exergy previously available to the wider economy.  Which, in turn, means that the wider economy is going to shrink… and we have no economic theory to explain how we are going to handle this. What of productivity?  Surely – and visibly – technology adds value.  After all, we now have automated production processes which can manufacture goods with barely a human finger laid upon them.  But as with labour back in Adam Smith’s day, what the technology is achieving is the efficient conversion of exergy into value.  And while this can have massive results – there is a big difference, for example, between Trevithick’s 1804 steam locomotive trundling down the Taff valley at walking pace (and later having to be towed back up by horses) and Gresley’s Mallard achieving the world record for a steam locomotive of 126 mph in 1938 – there are both physical (thermodynamic) and economic limits to what can be achieved.  As with fossil fuels themselves, technological improvement – aka productivity gains, i.e., optimising the conversion of exergy into value – is cheap and easy to begin with but hard and expensive later on: There is a reason why Mallard still holds the speed record for a steam locomotive, and it is the same reason why nobody has replaced Concorde in providing supersonic commercial flight – it costs too much!  Indeed, Mallard and Concorde both turned out to be state-subsidised luxury passenger transport for the wealthy.  And in both cases, electorates – most of whom could not afford the ticket price – eventually refused to vote for any more corporate welfare. Although we like to pretend that the technology which surrounds us is novel and world-changing, as physicist Tom Murphy has shown, much of it would be recognisable to someone in the USA of the 1950s: “Look around your environment and imagine your life as seen through the eyes of a mid-century dweller. What’s new? Most things our eyes land on will be pretty well understood. The big differences are cell phones (which they will understand to be a sort of telephone, albeit with no cord and capable of sending telegram-like communications, but still figuring that it works via radio waves rather than magic), computers (which they will see as interactive televisions), and GPS navigation (okay: that one’s thought to be magic even by today’s folk). They will no doubt be impressed with miniaturization as an evolutionary spectacle, but will tend to have a context for the functional capabilities of our gizmos. “Telling ourselves that the pace of technological transformation is ever-increasing is just a fun story we like to believe is true. For many of us, I suspect, our whole world order is built on this premise.” The point is that most of these technologies have already reaped the cheap and easy, and, indeed, almost all of the hard and expensive improvements that are ever going to be made.  In this respect, we are entering a period similar to the early twentieth century when we hit the limits to coal-powered technologies.  The big difference today being that there is no even more energy-dense and easily available new energy source available to us to usher in a new suite of technologies in the way that oil-based technologies rapidly replaced coal in the years after World War Two. From this viewpoint, the smart thing to do today would be to simplify our way of life – and write-off a large part of the monetary claims on future exergy growth which will not be arriving – in order to bring our economies into line with the declining surplus energy available to us.  The paradox though, is that – even at today’s higher prices – energy does not appear to be the biggest problem before us.  For all of the complaints about the rapid and steep rise in fuel and electricity prices, they remain low in comparison to the benefits that we derive from them.  In the monetary economy, on the other hand, it is the cost of labour which looks like our biggest headache.  In almost every business, the wage bill is far and away the biggest cost.  And with the price of energy rising as a direct consequence of depleting exergy (and with few more productivity gains to be won) the greatest fear on the part of central bankers and policy-makers is that wage demands will begin to exceed price increases – a process compounded by labour shortages caused by two years of lockdown policies. Labour shortages in Britain in the aftermath of the Napoleonic Wars, were an essential part of why we had an industrial revolution to begin with.  The use of machinery to harness water and steam power rapidly out-produced craft workers, soon enough turning skilled artisans into mere machine-minders.  And with labour shortages appearing again, the complexity trap is that corporations turn to technological automation to fill the gap.  From supermarkets installing ever more self-service tills and automated farming to the end of High Street banking and the move to digital currencies, the trend toward technological fixes for our growing predicament is irresistible.  But without the exergy to make it all work, something – very likely something big – is going to break. The counter trend to technological automation can already be seen in less profitable sectors of the economy, where cheap labour has been used to replace increasingly unaffordable technologies such as the once ubiquitous automated car wash.  Add these to a growing list of things that ordinary people used to be able to afford but no longer can.  As the cost of necessities like food and temperature control continue to increase, the list will grow.  And this will cause huge problems for the corporations which are pursuing the automation route… and, indeed, those of us who rely upon them as the customer base shrinks. This loss of critical mass is one jaw of the complexity trap.  Much of the automation that corporations are pursuing is only cheaper if a mass of the population uses it.  As Netflix and Facebook have discovered recently, things go badly awry when people begin to unsubscribe.  The same is true for the energy companies themselves since they rely on our collective willingness to continue using electricity and gas even as the price spirals upward.  The problem, of course, is that we are not prepared to do this.  Instead, we seek ways of cutting our use, with those at the bottom disconnecting themselves entirely.  So much so that even that bastion of neoliberal austerity, the IMF, is now calling on states to subsidise energy and food…  Not, as establishment media outlets may pretend, out of some sudden desire to alleviate the plight of the poor, but because when we stop buying, their system gets flushed around the U-bend. Declining surplus energy is the other jaw of the trap.  The immanent, and partially self-inflicted, loss of firm – 24/7/365 – electricity, along with periodic shortages of diesel, gas and food, are going to render hi-tech automated processes unworkable in practice.  Your driverless tractor may plough the straightest furrows possible.  But without diesel to fill the tank, it is no more than an expensive art installation.  Digital currency is of little use when the servers are down and/or when the users have no electricity with which to transact.  Try shopping during a power cut – something that is happening more often in the UK these days.  You might want to pay, and the supermarket would be delighted to take your money.  But if the tills aren’t working, it can’t be done… not even if you still use notes and coins, because without electricity, the system can’t process them.  Oh, and as an aside, when the power goes off, the supermarket is legally bound to dump its frozen and chilled foods… even during a food shortage. Several decades ago, sociologist Joseph Tainter observed that collapsing civilisations have a habit of unconsciously entering into complexity traps, adding energy-intensive complexity in a desperate attempt to sustain themselves.  Our turn to energy-intensive automation in an attempt to overcome our growing woes and to maintain economic growth is likely repeating the same folly.  The difference – at least for those who see the economy as primarily an energy rather than a monetary system – is that we have the necessary knowledge to avoid our complexity trap if only we are prepared to actively simplify away from an economy based on mass consumption in favour of one based around material simplicity…  I’m not holding my breath though. *  *  * As you made it to the end…you might consider supporting The Consciousness of Sheep.  There are five ways in which you could help me continue my work.  First – and easiest by far – please share and like this article on social media.  Second follow my page on Facebook.  Third, sign up for my monthly e-mail digest to ensure you do not miss my posts, and to stay up to date with news about Energy, Environment and Economy more broadly.  Fourth, if you enjoy reading my work and feel able, please leave a tip. Fifth, buy one or more of my publications Tyler Durden Sat, 06/04/2022 - 21:30.....»»

Category: dealsSource: nytJun 4th, 2022

28 historical fiction books that will whisk you away to a different world

Explore the best historical fiction books, from new releases to recent classics like "Pachinko" and "Where the Crawdads Sing." Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Some of the best historical fiction books of all time include "The Vanishing Half," "Pachinko," "The Nightingale," "Where the Crawdads Sing," and "The Underground Railroad."Amazon; Rachel Mendelson/Insider Historical fiction books transport us through time. They captivate readers and illuminate an important moment in history. Our recommendations range from historical fiction classics to new releases. Books can transport us across galaxies and mythical lands. With historical fiction books in particular, we can be taken through time by characters who illuminate real events and stories that demand to be told. Our favorite historical fiction novels may highlight the trials of refugees in the early 1900s or a familial tale that stretches generations, but they all use compelling characters and memorable plots to bring the past to life.  To create this list of recommendations, we looked at readers' favorite historical fiction books of all time, from new titles on bestseller lists to classics that are still receiving rave reviews on Goodreads. So whether you want to explore 12th-century England or a Pulitzer Prize-winning story about the underground railroad, here are some of the best historical fiction books to read in 2022.The 28 best historical fiction books of all time:A historical fiction book about books, World War II, and murderAmazon"The Diamond Eye" by Kate Quinn, available on Amazon and Bookshop, from $16.19Known for her bestseller "The Rose Code," Quinn's latest historical fiction read is about a bookworm name Mila Pavlichenko who becomes World War II's deadliest sniper when she's pulled from her life and thrust onto the battlefield. Torn once again from her world after her 300th kill, Mila is sent on a goodwill tour in America where an old foe and a new enemy bring the battlefield and haunting demons across the world for the deadliest battle of Mila's life. A historical fiction read that serves as a lens for forced sterilizationBookshop"Take My Hand" by Dolen Perkins-Valdez, available at Amazon and Bookshop, from $18.90Civil Townsend is fresh out of nursing school in 1973 when her new job at the local family planning clinic introduces her to the Williams sisters who, at ages 11 and 13, have their lives irrevocably changed forever. Based on the true horror of forced sterilization of poor Black people and the case of Mary Alice and Minnie Lee Relf, "Take My Hand" is a moving and gripping novel that not only illuminates real events but highlights the importance of even one voice in the face of injustice. A historical fiction story within a storyAmazon"Trust" by Hernan Diaz, available at Amazon and Bookshop, from $25.20All of New York seems to have read "Bonds," a 1938 novel about the mysterious wealth of Benjamin and Helen Rask in the 1920s, though this isn't the only version of the story. A book within a book, "Trust" tells a story where fact is interwoven with fiction, allowing the reader to unravel the truth as money, power, and what the characters want to believe about themselves manipulates the truth.A historical fiction book about separated and reconnected siblingsAmazon"We Measure the Earth with Our Bodies" by Tsering Yangzom Lama, available at Amazon and Bookshop, from $24.30Lhamo and Tenkyi are sisters who have just survived a perilous journey across the Himalayas to a refugee camp on the border of Nepal as China invaded Tibet in 1959, though the trip left them orphaned. Decades later, the sisters are separated but connected through Lhamo's daughter, who finds a statue in a collector's vault that was once from her mother's village, carved in the image of a nameless saint and known for vanishing and reappearing in times of need.A historical fiction critique on sexism in the science industryAmazon"Lessons in Chemistry" by Bonnie Garmus, available at Amazon and Bookshop, from $18.48In 1960s California, Elizabeth Zott's career as a chemist in a male-dominated science industry takes a sharp turn when she finds herself the star of America's favorite cooking show. With an unusual and revolutionary approach to cooking, Elizabeth isn't just teaching women a new way to cook — she's teaching them how to defy the status quo in this delightful and hilarious new historical fiction read.  A historical fiction story that's part coming-of-age and part murder mysteryAmazon"Where The Crawdads Sing" by Delia Owens, available at Amazon and Bookshop, from $9.98 In this coming-of-age story driven by the mystery of a possible murder, Kya Clark is a young woman with only one day of schooling who's been surviving alone in the marsh since she was seven, earning herself the nickname "Marsh Girl." When a popular boy is found dead, Kya is an immediate suspect. This novel shows both the beauty of the natural world and the violence of pain, shifting between Kya's resilient life on the marsh and the tantalizing murder mystery. A multi-generational historical fiction story of a Korean family's migration to JapanAmazon"Pachinko" by Min Jin Lee, available at Amazon and Bookshop, from $14.99 This National Book Award finalist takes place in the early 1900s Korea where readers meet Sunja, a teenage girl who falls in love with a wealthy stranger who promises her the world. When she discovers that he's married and she's pregnant, Sunja must instead accept a proposal from a minister on his way to Japan, rejecting the powerful father of her son in the process. This read contains a lot of fascinating history and follows four generations of a Korean family through Japanese colonization, war, and the divide of North and South Korea.A historical fiction book about women’s bravery during World War IIAmazon"The Nightingale" by Kristin Hannah, available at Amazon and Bookshop, from $8.18"The Nightingale" takes place in France and begins just before the Nazi invasion in 1939. It's the story of unbreakable resolve and an untold perspective of World War II, following two sisters as one trying to keep her daughter safe as a German captain claims her home, while the other risks her life by joining the resistance. Despite being over 400 pages, it's a fast read that brought me to tears on more than one occasion and is my personal favorite historical fiction book.An intertwining historical fiction tale of twin sistersAmazon"The Vanishing Half" by Brit Bennett, available at Amazon and Bookshop, from $18.65 "The Vanishing Half" is a historical fiction novel about twin sisters who grew up to live very different lives. At 16, the Vignes twins run away together from their small, Black town to later separate and become starkly different women whose fates still manage to intersect through their children. Years later, one sister once again lives in their hometown with her daughter, while the other lives with her white husband, quietly passing as a white woman. Told from the 1950s to the 1990s, this is a generational story of identity, community, and family that was widely considered one of the best books of 2020.An award-winning historical fiction classicAmazon"Beloved" by Toni Morrison, available at Amazon and Bookshop, from $9.31 Winner of the 1988 Pulitzer Prize, Toni Morrison's "Beloved" is a devastating and unflinching story of slavery and survival. Sethe was born a slave and escaped to Ohio. Yet, 18 years later, she's still tormented by her memories of the farm and the ones she left behind. Now, her home is haunted by the ghost of her baby, whose tombstone is engraved with only "Beloved." This story is an emotional and brutal tale of the complex legacy of slavery.A historical fiction read about love and relationships between womenAmazon"Snow Flower and the Secret Fan" by Lisa See, available at Amazon and Bookshop, from $13.19With flowing prose that easily transports readers to 19th century China, Lisa See shows how the power of friendship can help us endure life's greatest challenges. Lily and Snow Flower were paired as emotional matches when they were seven years old, communicating with each other in "nu shu" or women's writing, a secret code women used to communicate despite seclusion. Through the years, Lily and Snow Flower share their hopes, dreams, and accomplishments through messages sent on fans, outlining the agony of foot-binding, the joys of motherhood, and their thoughts on their arranged marriages.A Holocaust historical fiction novel with an original narratorAmazon"The Book Thief" by Markus Zusak available at Amazon and Bookshop, from $6.99 Set in 1939 Nazi Germany, Liesel is a foster girl living outside of Munich who begins to steal books after finding "The Gravedigger's Handbook" partially buried by her brother's grave. As she falls in love with reading, the country around her descends deeper into war. When her foster family hides a Jewish man in their basement, Liesel's understanding of the death and danger surrounding her grows as her exterior world shrinks. Narrated by Death, this is an intense and emotional World War II story as Liesel steals books from wherever she can — including Nazi book burnings.A heart-racing historical fiction story about escaping slaveryAmazon"The Underground Railroad" by Colson Whitehead, available at Amazon and Bookshop, from $10.25 Cora is an enslaved young girl in Georgia, an outcast who knows she must escape before she reaches womanhood and faces even greater horrors. When Cora and her new friend decide to flee through the Underground Railroad, they soon find they're being hunted. The pair travels from state to state, risking their lives for the chance of freedom. Colson Whitehead's ability to instill in readers the terror that Cora feelsis astounding, making it no surprise this extraordinary title won the National Book Award in 2016 and the Pulitzer Prize in 2017.A heartbreaking historical fiction book about friendshipAmazon"The Kite Runner" by Khaled Hosseini, available at Amazon and Bookshop, from $10.50 Set in Afghanistan from 1963-2001, this book tells the story of Amir, a wealthy young boy, and his best friend Hassan, the son of his father's servant. Like brothers, the boys spend their days flying kites to escape the difficulties of their lives, until a devastating act changes their relationship forever. This is a moving tale of friendship, guilt, and redemption that follows the real-world histories of military intervention and the rise of the Taliban in Afghanistan while keeping the relationships between Amir, his father, and Hassan in the foreground.A lyrical historical fiction bookAmazon"The Water Dancer" by Ta-Nehisi Coates, available at Amazon and Bookshop, from $12.31 "The Water Dancer" is a historical fiction novel that combines elements of magical realism in an engaging and moving story of memory, family, and slavery. Hiram Walker is the enslaved Black son of a plantation owner who has the ability to remember everything except his mother, taken and sold by his father when Hiram was only nine. After Hiram has a near-death experience, he decides he must escape the plantation and rescue his family in this dramatic and heart-racing journey. A historical fiction novel about an empowered henna artistAmazon"The Henna Artist" by Alka Joshiavailable at Amazon and Bookshop, from $13.98 "The Henna Artist" is an immersive read that tells the stories of many women in Jaipur in the 1950s. At only 17, Lakshmi is the most highly sought-after henna artist in Jaipur, having recently escaped her abusive marriage. While creating beautiful henna for her wealthy clients, she becomes a confidant to many women, offering wise advice while avoiding gossip. One day, Lakshmi is confronted by her husband, who brings her a young sister she didn't know she had. With her secure and independent life in jeopardy, Lakshmi must care for her teenage sister on her journey to a life she never knew she wanted.  A familial historical fiction book that spans centuriesAmazon"Homegoing" by Yaa Ghasi, available at Amazon and Bookshop, from $8.82 "Homegoing" is a multi-generational story that spans 300 years and is beloved by readers for the unforgettable forces that shape families on opposite sides of the world. In 18th century Ghana, two half-sisters are born in different villages, each unaware of the other's existence. One is married off into wealth, while the other is imprisoned in the dungeons of her sister's castle, soon sold into the slave trade and raised in American slavery. This tale of legacy follows the descendents of each sister through centuries of colonization, migration, and war. A queer historical fiction book set in UruguayAmazon"Cantoras" by Caroline De Robertis, available at Amazon and Bookshop, from $15.29In 1977, Uruguay was ruled by an authoritarian military dictatorship under which homosexuality was not just a crime, but punishable by unspeakable means. Despite the dangers, five cantoras (women who sing) find each other through a friendship that blooms to love, family, and freedom. This novel is a passionate celebration of the safety and sanctuary of found families that begins with a trip to an isolated cape. A lyrical, Indigenous historical fiction novelAmazon"Where the Dead Sit Talking" by Brandon Hobson, available at Amazon and Bookshop, from $13.69 "Where the Dead Sit Talking" is an emotional and authentic coming-of-age story featuring Sequoyah, who is placed in foster care after his single mother is jailed on drug charges. Set in 1980s Oklahoma, Sequoyah is a 15-year-old Cherokee boy and a survivor of childhood trauma and abuse. He quickly bonds with another Indigenous foster girl named Rosemary, sharing their past pains and precarious present in this award-winning, profound novel of suffering and strength.A historical fiction story of love and redemptionAmazon"The Color Purple" by Alice Walker, available at Amazon and Bookshop, from $14.99The winner of the Pulitzer Prize and the National Book Award, this historical fiction book is about Celie and Nettie, two sisters who were separated as girls yet connect through letters spanning 20 years. This book brings to light the extent of abuse women of color have often faced and been expected to quietly endure — a devastating and emotional read about the resiliency of the human spirit and the persistent bond of sisterhood.A historical fiction story about spiritual growthAmazon"The Samurai's Garden" by Gail Tsukiyama, available at Amazon and Bookshop, from $10.19This historical fiction book is about the emotional and spiritual journey of a young Chinese painter named Stephen, set against the backdrop of the Japanese invasion of China in the late 1930s. When Stephen is sent to his family's coastal home to recover from tuberculosis, he meets four new people, including Matsu — a samurai of the soul who's dedicated himself to living a generous and nurturing life and helps Stephen gain physical, mental, and spiritual strength as the novel progresses.A historical fiction novel that follows a family over 200 yearsAmazon"The House of the Spirits" by Isabel Allendeavailable at Amazon and Bookshop, from $12.79 Spanning three generations of a family in Chile, "The House of the Spirits" incorporates magical realism into an epic narrative that weaves joy, love, and fate through a history of rich culture and political unrest. Beginning just after World War I, this novel follows the women of the Trueba family whose gifts, triumphs, and tragedies are reflected in each generation of beautiful and meticulously crafted characters.An engrossing historical fiction journey in 12th century EnglandAmazon"The Pillars of the Earth" by Ken Follett, available at Amazon and Bookshop, from $7Ken Follett is most well-known as a bestselling thriller writer, so it's no surprise this hugely popular historical fiction novel has all the suspense, passion, and intricacies for which he's revered. Set in 12th century England, this medieval story of morality, betrayal, and love is about a monk who is driven to build a Gothic cathedral so great it will dawn a new age. Told with vivid detail, "The Pillars of the Earth" brings an incredible cast of characters and their hardships to life.A historical fiction novel interwoven with magical realismAmazon"The Night Tiger" by Yangsze Choo, available at Amazon and Bookshop, from $13.59 "The Night Tiger" is a historical fiction read that incorporates elements of magical realism, ancient superstition, and mystery to create a lush and exhilarating coming-of-age story set in 1930s Malaysia. Rin is a young Chinese houseboy and Ji Lin is an apprentice dressmaker, their paths unlikely to cross until their journeys intertwine over a severed finger. Rin has 49 days to reunite his master's missing finger with his body, lest his soul roams the earth. One night, Ji Lin's dance partner leaves her a severed finger. Convinced it's bad luck, she sets out to return it to its owner.A historical fiction retelling of Indigenous heroesAmazon"A Novel About the Navajo Marines of World War Two" by Joseph Bruchac, available at Amazon and Bookshop, from $6.73 The Navajo Code Talkers were an instrumental group of native men who used their language to code messages during World War II, saving countless American lives. In this fictionalized retelling, Ned Begay is a teenage Navajo boy who becomes a code talker through rigorous Marine Corps training, fighting through some of the war's most brutal battles. While the novel highlights the discrimination the Navajo men faced, the story is also a celebration of Navajo culture and the code-talker heroes of World War II.An emotionally trying historical fiction bookAmazon"The Darkest Child" by Delores Phillips, available at Amazon and Bookshop, from $10.99 Set in 1958 Georgia, Tangy Mae is 13 years old and one of 10 children, the darkest-skinned of her siblings and dubbed the ugliest by her light-skinned mother. The siblings all suffer horrific emotional and physical abuse by their mother, so when Tangy Mae is offered a spot in a nearby high school looking to assemble its first integrated class, she knows how life-changing yet impossible escaping her mother may prove to be.A historical fiction read that begins in a remote village in ChinaAmazon"The Tea Girl of Hummingbird Lane" by Lisa See, available at Amazon and Bookshop, from $12.91 Li-yan is raised in a remote mountain village where the lives of those in the community revolve around tradition, ritual, and tea farming. When a stranger arrives in the first automobile the villagers have ever seen, it dawns a modern awakening for the community and some begin to reject its customs and traditions. When Li-yan has a child out of wedlock, she brings the baby to an orphanage and leaves her village in search of an education and city life while her daughter is raised in California by her adoptive parents in this story of heritage, familial bonds, and sacrifice.A vibrant historical fiction story set during the Civil WarAmazon"Gone with the Wind" by Margaret Mitchell, available at Amazon and Bookshop, from $3.95This classic historical fiction novel was originally published in 1936 but is set in Georgia in 1861 during the Civil War. The story focuses on Scarlett O'Hara, the spoiled daughter of a wealthy plantation owner whose life is forever changed by the Civil War. This is an intense book that captures the depth of transformation during the war, known for the manipulative and selfish ways of the unlikeable main character. "Gone with the Wind" won a Pulitzer Prize in 1937 and is widely considered a great American novel.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 31st, 2022

...Turns Out Keynes Was A Commie

...Turns Out Keynes Was A Commie Authored by Mark Jeftovic via BombThrower.com, Why The Cantillon Effect Creates Communism Awareness of the centuries old concept of The Cantillion Effect has been experiencing a revival of late, particularly since the extraordinary acceleration of monetary injections that occurred under COVID. Named for the French-Irish economist who died in 1734 (he was murdered), the Cantillon Effect is when you create a bunch of new money and inject it into an economy. What happens is the people at the front of the line who receive the new money first become wealthier, while the people at the end of the line who receive it last are further impoverished. The Cantillon Effect This is not peculiar to the post-Covid era. For more than a decade I’ve been describing how rampant money creation and credit expansion skews formerly free markets into a kind of economic vampirism, without actually knowing there was a term like this to describe it. From my vantage-point as a tech CEO running a company that has never taken on VC funding, it unfolded as having to compete with multiple deep-pocketed 800lb gorillas and billion dollar unicorns who were losing money on every transaction and driving a race to the bottom across the entire industry. Companies like ours have to be profitable or perish. Serially funded unicorns just have to keep their burn rate below their fund-raising tempo. Marc Andreesen, the noteworthy VC icon touched on it with his famous “Software is eating the world” euphemism, but it failed to capture the financialization aspect of it. It’s more like “serial up-rounds are eating the world”. The dynamic intensified dramatically under COVID. Not only were the monetary injections accelerating, but governments globally shut down small and independent businesses for nearly two years, and then central banks went out and bought the bonds of the quasi-monopolies who were left. Via Statista – the Fed purchased bonds of companies controlled by every person on this list. But even if the people at the front of the line have a privileged position, why does this necessarily translate into them either using that position to launch, fund and flip money-losing unicorns, or hollowing out via financial engineering what would have otherwise been long term viable businesses? It’s the currency debasement, stupid When the cost of capital is cheap, like near-zero cheap, companies never have to be profitable. In fact if the capital pool is growing faster than the operating earnings are, you’re actually incentivized to eschew profits in favour of taking on funding – provided you have a short-term time horizon. Here’s the thing about printing money: because it devalues the currency, it compresses time horizons. If you think of currency as “shares” in the economy they denominate, then it should be easy to grasp that by increasing the number of currency units, you aren’t magically growing the economy. You’re just increasing the numerator (the currency units) while keeping the denominator (the actual goods and services available) the same. If the numerator grows, that means it takes more currency to buy the same goods and services, so it is experienced as variations of “number go up”: For people who are already wealthy: assets increase in “value” because they are being measured in more units For everybody else: food, shelter and essentials get more expensive, same reason. In fact government metrics that define some arbitrary “poverty line” as being based on some level of income almost completely misses the point. The line between poverty and wealth should more accurately be measured in terms of net assets. The wealthy have assets – that compound. The poor have bills – that get more expensive. Whenever the monetary authorities increase the currency supply or expand credit, it is always proffered as a necessity of saving the system. The fact that the reason the system needed saving in the the first place was a direct consequence of previous expansions is ignored or shouted down. There are only three real moves in the central banker toolbox: print money, expand credit, suppress interest rates. The intellectual basis of this approach is often rationalized as a prescription dictated by  “Keynesianism” or “Keynesian economics”, after John Maynard Keynes, the intellectual father of mainstream “economics” as it is known today. Keynes was a bit of a mixed bag. Though often cited for his “gold as a barbarous  relic” quote, he ended up heavily allocated in South African gold miners years after he wrote that. Mid-way through his career he swore off macro investing, coming to the opinion that no amount of macro knowledge would give you an edge at the company level: he had become a sort of proto-value investor. He was also a pederast, having kept detailed records of  numerous young, mostly male partners, their names and ages, which are preserved still in the archives at King’s College, Cambridge …he was a Malthusian believing it was “the salvation of the British economy” and eugenicist – having served on the board of the British Eugenics Society. …and, as it turns out, Keynes was a raving pinko. Full blown Commie. The Socialist scaffolding of Keynesian Economics Vladimir Lenin is often attributed as saying “the best way to destroy the capitalist system is to debauch the currency.” However the quote is possibly apocryphal, because the earliest reference to it is a citation by Keynes in his Economic Consequences of Peace.  Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. … As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless;… Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose. Keynes is describing The Cantillon Effect, and yet, as we’ll see, Keynes may not have been viewing this as a bad thing. While Keynes clearly understood that government spending and money creation drove wealth inequality, it seems as though he viewed this as a beneficial dynamic, because it would inexorably lead toward the ultimate wealth inequality: Communism. Contrary to the popular platitudes that socialism and communism are about achieving equality for all, going so far to prescribe absurdities like “equality of outcome”. The reality, documented by the likes of Dr. Kristian Niemietz in his “Socialism: The Failed Idea That Never Dies”, is that the only equality brought about by collectivism is where everybody beneath the thin scab of elites and their apparatchiks are equally mired in poverty and servitude. In Edward W Fuller’s “Was Keynes a socialist” paper, published 2019 in The Cambridge Journal of Economics, Fuller looked at whether John Maynard Keynes, the chief architect behind the entire edifice of conventional economics (and arguably it’s intellectual descendants like Modern Monetary Theory) was a socialist. He compared the defenses of Keynes as “a liberal who wanted to save Capitalism” against various writings, correspondence and accounts of Keynes himself and from those who knew him, including his own father. John Neville Keynes,  journaled on Sept 6, 1911 ‘Maynard avows himself a Socialist and is in favour of the confiscation of wealth’. Turns out this was not a passing fad, it was a lifelong devotion. Young Keynes first came out as a socialist in February 1911, declaring that: “the progressive reorganization of Society along the lines of Collectivist Socialism is both inevitable and desirable” Over the course of his career Keynes authored numerous odes to socialism, fraternized with notorious socialists like George Bernard Shaw (head of the Fabian Society) and Owen Mosley, who founded the socialist New Party in 1931, which later morphed into The British Union of Fascists. Keynes supported the Bolshevik Revolution, even though it had seized power in a coup d’etat against what was then the only democratically elected government in Russia’s history (“the only course open to me is to be a buoyantly bolshevik”.) Keynes became a regular attendee at the 1917 Club, a Soho meeting place in vogue amongst socialists of the day, named to honour the year of the revolution. It was at the 1917 Club where members of The Fabian Society met. The Fabians wanted to usher in global communism, but instead of doing that through, sudden, violent revolutions (a la Marx) they would take their time. They thought in generational increments and proposed the slow, steady infiltration of higher education, government bureaucracies, cultural chokepoints (theatre, pop-culture, the media and the press), and posited that over time they could pull society toward collectivism without anyone realizing it. Their emblem was a wolf in sheep’s clothing. As per Keynes: “Socialism can be introduced gradually... the economic transition of a society [into Socialism] is a thing to be accomplished slowly”. Fuller’s paper concludes that Keynes was a non-Marxist socialist, meaning he eschewed the obsession with the idea of class struggle and focused his thinking around increased State control over the economy. If Keynes was a commie, why does it matter? In a previous incarnation of this blog, I wrote about Keynes’s predictions of a theoretical future where humanity would be freed from all care of day-to-day concerns through expert management of the economic cycle by credentialed technocrats. He called this future state “Bliss” and described it in his essay The Economic Possibilities of Our Grandchildren (coincidentally cited via marxists.org) The pace at which we can reach our destination of economic bliss will be governed by four things – our power to control population, our determination to avoid wars and civil dissensions, our willingness to entrust to science the direction of those matters which are properly the concern of science, and the rate of accumulation as fixed by the margin between our production and our consumption; of which the last will easily look after itself, given the first three. Economic bliss sounds a lot like fully automated luxury communism. But you can’t get there if the rabble is still making economic decisions for itself. Free markets must be destroyed, and only credentialed elites can be permitted economic autonomy. (That’s why nobody’s life, liberty or property is safe whenever the World Economic Forum is in session). Keynes laid out a path to get there. Through endless money printing, the Cantillon Effect would lead to the destruction of the middle class. By wrapping it within a cloak of crypto-socialism, he gave it a veneer of intellectual acceptability: “The work of monetary cranks like John Maynard Keynes taught in the modern universities the notion that government spending only has benefits, never costs. The government, after all, can always print money and so faces no real constraints on its spending, which it can use to achieve whatever goal the electorate sets for it” - Saifedean Ammous, The Bitcoin Standard. In Saifedean’s follow up, The Fiat Standard, Keynes and Marxism are mentioned as having large areas of overlap, goals and practically identical results: “The number and influence of third-world leaders who were educated in British and American universities from the 1930s onward is staggering…anyone familiar with the economic history of developing countries, or with the rhetoric of any development agency or ministry in a developing country, will see this influence in the distinct stench of Marxist and Keynesian notions of central planning.The entire framing of the notion of economic development is driven ultimately by a highly socialist view of how an economy works.” “By the 1970s, the development failures piled high, and a lot of soul-searching within the misery industry would lead to more government control and more centralized economic planning. As the “dependency school” approach became more popular, government central planning became far more pervasive. The combination of global easy money, following the U.S. government’s decision to suspend gold redeemability, and governments and international bureaucracies staffed with Keynesians and Marxists proved disastrous.” Fuller’s paper goes a long way in providing an explanation on why collectivism and Keynesianism seem to resemble each other: it’s the same thing. It is all statist, centralized technocracy under the guise of a) high-minded collectivism for the useful idiots of the working class, and b) high-powered intellectual macro-economic policy for the useful idiots in the universities and think tanks. This could be why we’re demonizing capitalism, energy, self-reliance, family, spirituality and anything else that falls to the right of Stalin. This is why Big Tech unicorns are by their own admission “commie as f*ck”, and why many of the celebrity class these days are self-proclaimed “woke” socialists. Especially the super-rich ones. The good news There was a time, especially under lockdowns, when I looked at the direction things were going, and I thought the Fabians had achieved complete victory. World socialism was practically here, having arrived under banners with names like The Great Reset, The Fourth Industrial Revolution and Stakeholder Capitalism. Even worse, large swaths of the public seemed to be clamouring for it. COVID stimulus showed how the lubricant for a globalized socialism was the monetary printing press. In his day, Friedrich Hayek (the anti-Keynes) realized this as well and was similarly pessimistic. “I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something they can’t stop.” - Hayek, quoted in The Bitcoin Standard, p72 Enter, Satoshi. The epiphany I had, and I’m not alone, is that we are not entering an age of centralized, technocratic authoritarianism, we are in the process of departing from it. We’re in the end game now. The crescendo of an age which has been unfolding for over a century – the era of the welfare state. With the arrival of the Internet, and then Bitcoin, we’re undergoing a phase shift into the decentralized era of network states and micro-sovereigns. The near universal mismanagement of COVID, from the possibility of a lab leak in the first place to being absolutely wrong about everything after that, pulled forward about 20 years of this tension and crammed it into 18 months. Too much, too soon. We were on track to gradually transition to a decentralized society via an interim phase of technocratic authoritarianism that could have lasted for decades, before giving away to the inevitable decentralized society. But now, we’re looking instead at a disorderly phase shift into deglobalization and decentralization. It’s already happening. We’re at a point where reality is intervening with ideology and it was the pandemic that brought us here a few decades before I would have otherwise expected it. The conventional COVID narrative has all but broken down completely. Trust in institutions and experts is plummeting, the corporate media is a joke. We may have already blundered our way into World War 3, while incumbent politicians around the world are being swept out of office on a wave of public backlash. Then there’s the economic and physical consequences of batshit policies that threaten to overwhelm our supply chains and energy availability everywhere. Woke capitalism is being exposed as a sham. The public increasingly sees The Party at Davos as saturated with hypocrisy and arrogance. Make no mistake, we’re talking about the end of an epoch and the demise of the legacy power structure. Not only in terms of who the incumbents are, but the very architecture and fabric of how geopolitical and economic power is configured. The old guard will not go down without a fight, and for the moment, they have the institutions and the media, but that is already changing. “We’re all Keynesians now” was the intellectual rallying cry of the fiat era. Laser eyes will be the defining meme of the next one. If I had to offer advice to anybody who was looking for ways to pivot their existing affairs and navigate the coming changes I would bullet point them as follows: Do not be reliant on government entitlements: these will soon be delivered via CBDCs and be full-throated social credit systems Turn off your TV, cancel all mainstream media subscriptions: read more books, get your news through alternative / indie media channels (start with The Sovereign Individual, both Saifedean Ammous books, and George Gilder’s Life After Google) If you’re a business owner: start taking crypto payments and HODL them If you’re not a business owner: Start one. Even a kitchen table business that you can grow over time. And stack sats. Always be stacking sats. Buying Bitcoin is calling bullshit on everything — Interstellar (@InterstellarBit) May 27, 2022 We’re going through a Fourth Turning-style phase shift. It will be turbulent, violent and at times terrifying.  But it will also bring boundless opportunity. Never before have we lived in age where nearly anybody can go from a standing start to spectacular success in the shortest amount of time with the lowest barriers to entry. This dynamic will only intensify over the coming years and in the long run, this is what will propel a quantum leap in the human endeavour. *  *  * The world is undergoing a monetary regime change. Get the Crypto Capitalist Manifesto free, when you join the Bombthrower mailing list. Follow me as @bombthrower on Gettr or if you haven’t been kicked off Twitter (yet), @StuntPope Tyler Durden Sun, 05/29/2022 - 17:30.....»»

Category: personnelSource: nytMay 29th, 2022

Live election updates: Democratic runoff goes down to the wire in Texas while Trump-backed candidates have a bad night in Georgia

Georgia Gov. Brian Kemp and ex-Sen. David Perdue are vying for the GOP nomination, pitting a sitting governor against a Trump-backed challenger. InsiderInsider is be bringing you real-time election votes tonight for governor races, congressional races, a high-profile GOP primary over a safe Alabama senate seat, and state legislature primaries from Georgia, Alabama, Arkansas, and even a few high profile runoffs in Texas.Here's what we're paying attention to:Alabama's ruby-red Senate seat is up for grabs, with a congressman vying against a former Senate chief of staff in a GOP primary for the seat.And in Texas, incumbent Rep. Henry Cuellar is facing a progressive challenger from Jessica Cisneros in a runoff election after their March primary went into overtime.Katie Britt advances in AlabamaAlabama Republican Senate candidate Katie Britt at the NASCAR Cup Series YellaWood 500 in Talladega, AL.Sean Gardner/Getty ImagesKatie Britt, a former aide and chief of staff to Sen. Richard Shelby, will advance to a June 21 primary against either Rep. Mo Brooks or businessman Mike Durant in the Alabama Senate race.— John DormanA Georgia election chief attacked by Trump holds his ownGeorgia Secretary of State Brad Raffensperger speaks during a presser in AtlantaAP Photo/John BazemoreEarlier in the night, Georgia Republican voters resoundingly rejected Sen. David Perdue, President Donald Trump's pick to run an election grievance-based campaign against Gov. Brian Kemp. And GOP voters now may be on track to either outright reelect Secretary of State Brad Raffensperger or at least send him to a runoff against Trump's pick for the top election job, Rep. Jody Hice. As of 11 p.m. Tuesday night, Raffensperger sat just above the threshold to avoid a runoff with Hice taking about a third of the vote. -Grace Panetta Trump's tumultuous gubernatorial endorsement track recordFormer President Donald Trump.Scott Olson/Getty ImagesFor the third week in a row, a gubernatorial candidate has lost a primary election despite receiving former President Donald Trump's support. The first candidate was Charles Herbster in Nebraska — he lost his May 10 primary by three percentage points. He was followed by Janice McGeachin, who lost her Idaho primary by a landslide on May 17. And tonight, Georgia Gov. Brian Kemp handily defeated Trump-endorsed David Perdue to move on to the general election.For a former president with such a powerful hold on his party, Trump's backing has not been as impactful as expected. Insider recently published an analysis breaking down Trump's endorsement power and its limitations.Trump's endorsement did, however, help in two gubernatorial races so far: incumbent Gov. Greg Abbott's in Texas and state Sen. Doug Mastriano's in Pennsylvania.— Madison HallAbrams and Kemp set for a rematch in GeorgiaStacey Abrams.Zach Gibson/Getty ImagesGeorgia's 2018 Democratic gubernatorial nominee Stacey Abrams easily cleared the field on Tuesday to secure the her party's nomination for 2022. She will again face off against Gov. Brian Kemp, who easily jettisoned Trump-backed primary challenger David Perdue. Kemp's win sets up a repeat of the contentious 2018 battle that catapulted Georgia into the spotlight as a possible blue-trending swing state — and made Abrams a household name. While Abrams lost that contest, which she decried as unfair and tainted by voter suppression, she spent the subsequent time at the forefront of a nationwide push for voting rights. The 2022 rematch will reopen old wounds, bring in tons of outside money, and ultimately decide Georgia's path as a battleground state. — Grace Panetta Rep. Lucy McBath beats Rep. Carolyn Bordeaux in Georgia member-vs-member primary.US House of RepresentativesRep. Lucy McBath defeated Democratic challengers Rep. Carolyn Bourdeaux and Donna McLeod on Tuesday, according to Decision Desk HQ. McBath will go on to face the winner of tonight's GOP primary race to become the next representative for Georgia's 7th Congressional District.- Madison HallSarah Huckabee Sanders, former Trump White House Press Secretary, wins GOP nomination for Arkansas governorChip Somodevilla/Getty ImagesSarah Huckabee Sanders was a fixture in the Trump White House for years, and cruises to the nomination. She secured the Republican nomination for governor of Arkansas on Tuesday night, Decision Desk HQ has called. She hopes to take the job once held by her father, former Arkansas Gov. Mike Huckabee. - Madison Hall and Walt HickeyMarjorie Taylor Greene cruises to victory in bid to retain House seatRep. Marjorie Taylor Greene.John Bazemore-Pool/Getty ImagesGOP Rep. Marjorie Taylor Greene easily coasted to victory on Tuesday night, bringing in well over the 50% needed to avoid a runoff. She is vying to retain her seat in Georgia's 14th Congressional District. Click here to follow the other Georgia congressional races.— Madison HallMo Brooks, mo' (financial disclosure) problemsRepublican Rep. Mo Brooks of Alabama conducts a news conference.Tom Williams/CQ-Roll Call, Inc via Getty ImagesMo Brooks, who's on the comeback trail in Alabama after getting dumped by former President Donald Trump, is one of 60 members of Congress who violated the STOCK Act in the past year. His, however, was one of the most memorable.Brooks previously railed against the pharmaceutical company Pfizer, accusing it of playing politics with its vaccine data. Despite his disdain for the pharmaceutical giant, Brooks sold up to $50,000 in Pfizer stock in August 2021, but failed to disclose it until October of the same year, violating the federal STOCK Act. The reason for the late filing? Brooks' wife, Martha. She told Insider that she runs the family's investments, including her husband's, in addition to filing disclosures. Martha also told Insider that she's in charge of deciding which stocks to buy and sell in accordance with their family's financial advisor, but never with Mo's knowledge.According to Martha, her husband didn't even know he owned any Pfizer stock to begin with.— Madison HallBush loses, embattled AG wins another termGeorge P. BushJoe Skipper/ReutersTexas AG Paxton defeated Land Commissioner George P. Bush in a primary runoff for another term as attorney general. Paxton has been under indictment for securities fraud since 2015 but has yet to stand to trial and is reportedly facing an FBI investigation for abusing his office to benefit a wealthy donor, scandals Texas' senior Sen. John Cornyn called "embarrassing." But Paxton's role in helping Trump unsuccessfully overturn his 2020 election loss earned him Trump's support and helped him defeat the last member of the Bush dynasty in elected office. -Grace Panetta  The 'Unbreakable Nine' could get broken upRep. Henry CuellarKevin Dietsch/Getty ImagesA pair of moderate House Democrats who launched a short-lived rebellion against President Joe Biden's economic agenda are battling for their political survival this evening.Reps. Henry Cuellar of Texas and Carolyn Bourdeaux of Georgia are facing off against rivals in a pair of closely-watched primary races. Cuellar is competing against Jessica Cisneros, a 28-year-old immigration attorney with endorsements from Rep. Alexandria Ocasio Cortez of New York and Sen. Bernie Sanders of Vermont. And Bourdeaux is locked in a tight race against Rep. Lucy McBath, another candidate with strong progressive support.Progressives are hoping to oust moderates who they argue helped tank Biden's expansive social and climate spending package once known as Build Back Better. In particular, they're focused on unseating Cuellar, one of the "Unbreakable Nine" House Democrats who nearly derailed Biden's agenda. Sanders recently campaigned with Cisneros in San Antonio, Texas. He cast the race as a "battle against the billionaire class."Last year, both Cuellar and Bordeaux joined a rebellion with seven other House Democrats to split the bipartisan infrastructure law from passing alongside the Build Back Better bill. The latter measure eventually died in the Senate.— Joseph Zeballos-RoigArkansas polls have closedSen. John BoozmanBallotpediaArkansas closed its polls at 7:30 p.m. CT/8:30 p.m. ET on Tuesday and results should begin to trickle in soon. We've got two pages tracking Arkansas races: One for the Senate, where incumbent Sen. John Boozman is looking to retain his seat, and one for Arkansas' gubernatorial and local races.— Madison HallThe state of play in AlabamaAlabama Gov. Kay Ivey speaks during a news conference in Montgomery.AP Photo/Kim ChandlerIncumbent Republican Gov. Kay Ivey is believed to be a strong frontrunner to win renomination in deeply conservative Alabama, on the road to a likely GOP win this fall.And in the GOP Senate primary, GOP Rep. Mo Brooks, Katie Britt, who is Sen. Richard Shelby's former chief of staff, and businessman Mike Durant have been in a heated race for months. The 50-percent threshold is a tall one, and the top two candidates will likely head to a June 21 runoff. — John L. DormanGov. Brian Kemp trounces Trump-backed David PerdueGeorgia Gov. Brian Kemp walks onstage for a campaign event in Kennesaw, Georgia.Joe Raedle/Getty ImagesFormer President Donald Trump endorsed David Perdue, an ex-US senator, to punish Georgia Gov. Brian Kemp for not supporting his efforts to overturn the 2020 election. But Perdue's campaign struggled to keep pace with Kemp's spending, and Kemp resoundingly defeated Perdue early on Tuesday night, dealing a huge blow to Trump.Perdue is now the third Trump-endorsed candidate to lose in three weeks, following Charles Herbster in Nebraska and Lt. Gov. Janice McGeachin in Idaho. — Grace PanettaInsider on the ground in GeorgiaGeorgia gubernatorial hopeful David Perdue poses alongside a cardboard cutout of former President Donald Trump during a campaign stop in Augusta, Georgia.Warren Rojas/InsiderOver the past few days, Insider correspondent Warren Rojas has traveled across Georgia attending events headlined by many of the leading Republican contenders and speaking with voters about everything from Gov. Brian Kemp's standing in the party to the influence of former President Donald Trump.Here are some of the highlights:Former Vice President Mike Pence on Monday traveled to Georgia to campaign on behalf of Kemp, putting him at odds with his former boss, who is all-in for ex-Sen. David Perdue. While Kemp was thought to be vulnerable over his defense of the integrity of the 2020 presidential vote in the state, Perdue has lagged in fundraising and endorsements, and the incumbent has also effectively used his bully pulpit to work in tandem with the GOP-controlled legislature to enact conservative legislation.While Perdue has had trouble gaining traction in the polls, controversial Rep. Marjorie Taylor Greene remains a major draw for conservatives. She remains a powerful force in the MAGA movement, and is highly regarded as the favorite this fall in her congressional district, which was drawn to elect a Republican.— John L. DormanWhat is Herschel Walker's John Hancock worth?Herschel Walker speaks at a Trump rally in Georgia.Sean Rayford/Getty ImagesRepublican US Senate candidate Herschel Walker has some significant — and complicated — personal finances. So significant and complicated, apparently, that Walker failed for months to properly report millions of dollars in earnings that he's required by federal law to disclose, as Insider reporter Madison Hall revealed last week.But here's another financial curiosity: If Walker wins his primary tonight as expected, then defeats incumbent Democratic Sen. Raphael Warnock in November's general election, he'll stand to earn a standard Senate salary of $174,000.That's less than Walker, a former football star, earned last year from "memorabilia autograph services" he provided to Gary Takahashi Sports Marketing LLC, a firm known for monetizing athletes' John Hancocks.Walker's most recent personal financial disclosure, submitted May 15 to the US Senate, indicates Gary Takahashi Sports Marketing LLC paid Walker "wages" of $211,544. — Dave LevinthalMarjorie Taylor Greene: Disney fan or no?Rep. Marjorie Taylor Greene.Megan Varner/Getty ImagesRep. Marjorie Taylor Greene of Georgia faces a handful of Republican primary challengers tonight, most notably "no-nonsense conservative" Jennifer Strahan. But the bombastic freshman is expected to win her party's nomination on the strength of her ultra-MAGA platform. Recently, Greene picked a fight with Walt Disney Co. for its opposition to a new Florida law that outlaws lessons about gender identity and sexual orientation. But what many Georgia voters probably don't realize is that the lawmaker personally invests in Disney stock. Asked about this, Greene told Insider that she doesn't make her own stock trades.She reiterated this assertion during a candidate debate earlier this month when one of her opponents, Seth Synstelien, asked her about her investments in defense contractor stocks."I usually find out about stock trades when I read them in the news just like you have," Greene said. "I signed an agreement with our financial advisor that I don't know anything about trades made on behalf of me or my husband. I always find out about them when they are written by leftists like Business Insider just like you are talking about."— Dave Levinthal Stacey Abrams' campaign is spending big bucks on securityStacey Abrams addresses the Gwinnett County Democratic Party fundraiser in Norcross, Georgia.Akili-Casundria Ramsess/ APStacey Abrams will cruise to victory in Georgia's gubernatorial primary today but is gearing up for one of the most contentious races in the country.As one of the most high-profile Democrats in the nation, she's spent a substantial sum on security. In fact, her security agency, Executive Protection Agencies, was the third highest payee in her campaign expense reports, costing her campaign a total of $390,132. As Insider's C. Ryan Barber previously reported, Abrams' voting rights PAC, Fair Fight, spent more than $1.4 million on security in 2020 and 2021, with the bulk of that money going toward Executive Protection Agencies.And while these expenditures are significantly more than that of most politicians and candidates in the US, the threats are real: former congresswoman Gabby Giffords was shot in the head in 2011 at a constituent meeting and GOP Whip Rep. Steve Scalise was shot at a Congressional baseball game in 2017.— Madison HallPolls close in the Peach StateGeorgia Secretary of State Brad Raffensperger speaks during a news conference in Atlanta. Georgia election officials have announced an audit of presidential election results that will trigger a full hand recount.AP Photo/Brynn AndersonPolls have just officially closed in Georgia. We're watching a Senate primary, former Sen. David Perdue's challenge to Gov. Brian Kemp, another Trump-backed challenge to Secretary of State Brad Raffensperger, and a number of House primaries, including two Democratic House members facing off for the same Georgia district. Our Warren Rojas reports from the Kemp watch party that some counties are keeping polling locations open until 8 p.m. to account for delays at the beginning of the day, so we won't get statewide race calls until after then.–Grace PanettaInsider's Warren Rojas is in Georgia covering the governor raceGeorgia Gov. Brian Kemp (R) and former US Vice President Mike Pence attend a campaign event at the Cobb County International Airport.Joe Raedle/Getty ImagesFor a primer on the high stakes for the GOP in Georgia, check out this rundown of the race for Governor from Insider's Warren Rojas and Elvina Nawaguna. Rojas is in Georgia and will be reporting live from The Peach State all night. Both the former president and the former vice president have come down on opposite sides in the tense primary, they write:Perdue supporters are threatening to sit out the November elections if their candidate loses the primary rather than vote for Kemp, who they still hold responsible for Trump's 2020 loss in Georgia. Trump's team did not respond to a request for comment on the tele-rally, which comes days after news reports that he was backing away from Perdue as polls showed the candidate losing.Meanwhile, Kemp is already anticipating that pro-Trump Republicans could try to challenge his primary win after the Tuesday vote. He's trying to get ahead of it by assuring voters that any "mechanical" issues that might have marred the 2020 election have already been solved through a bill he signed into law last year.- Walt HickeyDonald Trump's funky winning ratePennsylvania Republican U.S. Senate candidate Dr. Mehmet Oz joins former President Donald Trump onstage during a rally in support of his campaign at the Westmoreland County Fairgrounds in Greensburg, Pennsylvania.Jeff Swensen/Getty ImagesHere's what we know about former President Donald Trump's primary endorsee win record: His numbers are great when the person he's endorsing is running unopposed or faces tepid or token opposition. It's easy to pick winners when you know they're going to win, right?Where things get funky for Trump: When he endorses a candidate in a tight, tough Republican primary race.In these kinds of contests, Trump's picks have often faltered or underperformed, as Jake Lahut, Madison Hall, Brent D. Griffiths, and Warren Rojas report in this analysis with lots of cool charts.What does that mean for tonight's races? It means that in Georgia, for example, Republican US Senate candidate Herschel Walker — a Trump endorsee — will likely cruise to victory because he has minimal opposition. But on the same ballot, Trump's gubernatorial pick, former US Sen. David Perdue, could very well lose to Trump nemesis and current Gov. Brian Kemp. — Dave LevinthalLive election results start streaming in at 7 p.m. ET. Here's where to find the results.Georgia election officials counting ballots.Jessica McGowan/Getty ImagesWe're covering dozens of primary races up and down the ticket in four states — click on the links below to see live results for each race Georgia Senate Georgia governor  Georgia secretary of stateGeorgia House and state legislature Alabama Senate & HouseAlabama governor & state legislatureTexas' 28th District Democratic primary runoffTexas attorney general and congressional runoffsArkansas Senate & HouseArkansas governor & state legislaturePolls close at 7 p.m. ET in Georgia, 8 p.m. ET in Alabama and most of Texas, and 8:30 p.m. ET in Arkansas  -Grace Panetta Read the original article on Business Insider.....»»

Category: smallbizSource: nytMay 25th, 2022

Live election updates: Sarah Huckabee Sanders wins nomination in Arkansas, Kemp beats Trump-backed Purdue in Georgia

Georgia Gov. Brian Kemp and ex-Sen. David Perdue are vying for the GOP nomination, pitting a sitting governor against a Trump-backed challenger. InsiderInsider is be bringing you real-time election votes tonight for governor races, congressional races, a high-profile GOP primary over a safe Alabama senate seat, and state legislature primaries from Georgia, Alabama, Arkansas, and even a few high profile runoffs in Texas.Here's what we're paying attention to:Alabama's ruby-red Senate seat is up for grabs, with a congressman vying against a former Senate chief of staff in a GOP primary for the seat.And in Texas, incumbent Rep. Henry Cuellar is facing a progressive challenger from Jessica Cisneros in a runoff election after their March primary went into overtime.Abrams and Kemp set for a rematch in GeorgiaStacey Abrams.Zach Gibson/Getty ImagesGeorgia's 2018 Democratic gubernatorial nominee Stacey Abrams easily cleared the field on Tuesday to secure her party's nomination for 2022. She will again face off against Gov. Brian Kemp, who easily jettisoned Trump-backed primary challenger David Perdue. Kemp's win sets up a repeat of the contentious 2018 battle that catapulted Georgia into the spotlight as a possible blue-trending swing state — and made Abrams a household name. While Abrams lost that contest, which she decried as unfair and tainted by voter suppression, she spent the subsequent time at the forefront of a nationwide push for voting rights. The 2022 rematch will reopen old wounds, bring in tons of outside money, and ultimately decide Georgia's path as a battleground state. — Grace Panetta Rep. Lucy McBath beats Rep. Carolyn Bordeaux in Georgia member-vs-member primary.US House of RepresentativesRep. Lucy McBath defeated Democratic challengers Rep. Carolyn Bourdeaux and Donna McLeod on Tuesday, according to Decision Desk HQ. McBath will go on to face the winner of tonight's GOP primary race to become the next representative for Georgia's 7th Congressional District.- Madison HallSarah Huckabee Sanders, former Trump White House Press Secretary, wins GOP nomination for Arkansas governorChip Somodevilla/Getty ImagesSarah Huckabee Sanders was a fixture in the Trump White House for years, and cruises to the nomination. She secured the Republican nomination for governor of Arkansas on Tuesday night, Decision Desk HQ has called. She hopes to take the job once held by her father, former Arkansas Gov. Mike Huckabee. - Madison Hall and Walt HickeyMarjorie Taylor Greene cruises to victory in bid to retain House seatRep. Marjorie Taylor Greene.John Bazemore-Pool/Getty ImagesGOP Rep. Marjorie Taylor Greene easily coasted to victory on Tuesday night, bringing in well over the 50% needed to avoid a runoff. She is vying to retain her seat in Georgia's 14th Congressional District. Click here to follow the other Georgia congressional races.— Madison HallMo Brooks, mo' (financial disclosure) problemsRepublican Rep. Mo Brooks of Alabama conducts a news conference.Tom Williams/CQ-Roll Call, Inc via Getty ImagesMo Brooks, who's on the comeback trail in Alabama after getting dumped by former President Donald Trump, is one of 60 members of Congress who violated the STOCK Act in the past year. His, however, was one of the most memorable.Brooks previously railed against the pharmaceutical company Pfizer, accusing it of playing politics with its vaccine data. Despite his disdain for the pharmaceutical giant, Brooks sold up to $50,000 in Pfizer stock in August 2021, but failed to disclose it until October of the same year, violating the federal STOCK Act. The reason for the late filing? Brooks' wife, Martha. She told Insider that she runs the family's investments, including her husband's, in addition to filing disclosures. Martha also told Insider that she's in charge of deciding which stocks to buy and sell in accordance with their family's financial advisor, but never with Mo's knowledge.According to Martha, her husband didn't even know he owned any Pfizer stock to begin with.— Madison HallBush loses, embattled AG wins another termGeorge P. BushJoe Skipper/ReutersTexas AG Paxton defeated Land Commissioner George P. Bush in a primary runoff for another term as attorney general. Paxton has been under indictment for securities fraud since 2015 but has yet to stand to trial and is reportedly facing an FBI investigation for abusing his office to benefit a wealthy donor, scandals Texas' senior Sen. John Cornyn called "embarrassing." But Paxton's role in helping Trump unsuccessfully overturn his 2020 election loss earned him Trump's support and helped him defeat the last member of the Bush dynasty in elected office. -Grace Panetta  The 'Unbreakable Nine' could get broken upRep. Henry CuellarKevin Dietsch/Getty ImagesA pair of moderate House Democrats who launched a short-lived rebellion against President Joe Biden's economic agenda are battling for their political survival this evening.Reps. Henry Cuellar of Texas and Carolyn Bourdeaux of Georgia are facing off against rivals in a pair of closely-watched primary races. Cuellar is competing against Jessica Cisneros, a 28-year-old immigration attorney with endorsements from Rep. Alexandria Ocasio Cortez of New York and Sen. Bernie Sanders of Vermont. And Bourdeaux is locked in a tight race against Rep. Lucy McBath, another candidate with strong progressive support.Progressives are hoping to oust moderates who they argue helped tank Biden's expansive social and climate spending package once known as Build Back Better. In particular, they're focused on unseating Cuellar, one of the "Unbreakable Nine" House Democrats who nearly derailed Biden's agenda. Sanders recently campaigned with Cisneros in San Antonio, Texas. He cast the race as a "battle against the billionaire class."Last year, both Cuellar and Bordeaux joined a rebellion with seven other House Democrats to split the bipartisan infrastructure law from passing alongside the Build Back Better bill. The latter measure eventually died in the Senate.— Joseph Zeballos-RoigArkansas polls have closedSen. John BoozmanBallotpediaArkansas closed its polls at 7:30 p.m. CT/8:30 p.m. ET on Tuesday and results should begin to trickle in soon. We've got two pages tracking Arkansas races: One for the Senate, where incumbent Sen. John Boozman is looking to retain his seat, and one for Arkansas' gubernatorial and local races.— Madison HallThe state of play in AlabamaAlabama Gov. Kay Ivey speaks during a news conference in Montgomery.AP Photo/Kim ChandlerIncumbent Republican Gov. Kay Ivey is believed to be a strong frontrunner to win renomination in deeply conservative Alabama, on the road to a likely GOP win this fall.And in the GOP Senate primary, GOP Rep. Mo Brooks, Katie Britt, who is Sen. Richard Shelby's former chief of staff, and businessman Mike Durant have been in a heated race for months. The 50-percent threshold is a tall one, and the top two candidates will likely head to a June 21 runoff. — John L. DormanGov. Brian Kemp trounces Trump-backed David PerdueGeorgia Gov. Brian Kemp walks onstage for a campaign event in Kennesaw, Georgia.Joe Raedle/Getty ImagesFormer President Donald Trump endorsed David Perdue, an ex-US senator, to punish Georgia Gov. Brian Kemp for not supporting his efforts to overturn the 2020 election. But Perdue's campaign struggled to keep pace with Kemp's spending, and Kemp resoundingly defeated Perdue early on Tuesday night, dealing a huge blow to Trump.Perdue is now the third Trump-endorsed candidate to lose in three weeks, following Charles Herbster in Nebraska and Lt. Gov. Janice McGeachin in Idaho. — Grace PanettaInsider on the ground in GeorgiaGeorgia gubernatorial hopeful David Perdue poses alongside a cardboard cutout of former President Donald Trump during a campaign stop in Augusta, Georgia.Warren Rojas/InsiderOver the past few days, Insider correspondent Warren Rojas has traveled across Georgia attending events headlined by many of the leading Republican contenders and speaking with voters about everything from Gov. Brian Kemp's standing in the party to the influence of former President Donald Trump.Here are some of the highlights:Former Vice President Mike Pence on Monday traveled to Georgia to campaign on behalf of Kemp, putting him at odds with his former boss, who is all-in for ex-Sen. David Perdue. While Kemp was thought to be vulnerable over his defense of the integrity of the 2020 presidential vote in the state, Perdue has lagged in fundraising and endorsements, and the incumbent has also effectively used his bully pulpit to work in tandem with the GOP-controlled legislature to enact conservative legislation.While Perdue has had trouble gaining traction in the polls, controversial Rep. Marjorie Taylor Greene remains a major draw for conservatives. She remains a powerful force in the MAGA movement, and is highly regarded as the favorite this fall in her congressional district, which was drawn to elect a Republican.— John L. DormanWhat is Herschel Walker's John Hancock worth?Herschel Walker speaks at a Trump rally in Georgia.Sean Rayford/Getty ImagesRepublican US Senate candidate Herschel Walker has some significant — and complicated — personal finances. So significant and complicated, apparently, that Walker failed for months to properly report millions of dollars in earnings that he's required by federal law to disclose, as Insider reporter Madison Hall revealed last week.But here's another financial curiosity: If Walker wins his primary tonight as expected, then defeats incumbent Democratic Sen. Raphael Warnock in November's general election, he'll stand to earn a standard Senate salary of $174,000.That's less than Walker, a former football star, earned last year from "memorabilia autograph services" he provided to Gary Takahashi Sports Marketing LLC, a firm known for monetizing athletes' John Hancocks.Walker's most recent personal financial disclosure, submitted May 15 to the US Senate, indicates Gary Takahashi Sports Marketing LLC paid Walker "wages" of $211,544. — Dave LevinthalMarjorie Taylor Greene: Disney fan or no?Rep. Marjorie Taylor Greene.Megan Varner/Getty ImagesRep. Marjorie Taylor Greene of Georgia faces a handful of Republican primary challengers tonight, most notably "no-nonsense conservative" Jennifer Strahan. But the bombastic freshman is expected to win her party's nomination on the strength of her ultra-MAGA platform. Recently, Greene picked a fight with Walt Disney Co. for its opposition to a new Florida law that outlaws lessons about gender identity and sexual orientation. But what many Georgia voters probably don't realize is that the lawmaker personally invests in Disney stock. Asked about this, Greene told Insider that she doesn't make her own stock trades.She reiterated this assertion during a candidate debate earlier this month when one of her opponents, Seth Synstelien, asked her about her investments in defense contractor stocks."I usually find out about stock trades when I read them in the news just like you have," Greene said. "I signed an agreement with our financial advisor that I don't know anything about trades made on behalf of me or my husband. I always find out about them when they are written by leftists like Business Insider just like you are talking about."— Dave Levinthal Stacey Abrams' campaign is spending big bucks on securityStacey Abrams addresses the Gwinnett County Democratic Party fundraiser in Norcross, Georgia.Akili-Casundria Ramsess/ APStacey Abrams will cruise to victory in Georgia's gubernatorial primary today but is gearing up for one of the most contentious races in the country.As one of the most high-profile Democrats in the nation, she's spent a substantial sum on security. In fact, her security agency, Executive Protection Agencies, was the third highest payee in her campaign expense reports, costing her campaign a total of $390,132. As Insider's C. Ryan Barber previously reported, Abrams' voting rights PAC, Fair Fight, spent more than $1.4 million on security in 2020 and 2021, with the bulk of that money going toward Executive Protection Agencies.And while these expenditures are significantly more than that of most politicians and candidates in the US, the threats are real: former congresswoman Gabby Giffords was shot in the head in 2011 at a constituent meeting and GOP Whip Rep. Steve Scalise was shot at a Congressional baseball game in 2017.— Madison HallPolls close in the Peach StateGeorgia Secretary of State Brad Raffensperger speaks during a news conference in Atlanta. Georgia election officials have announced an audit of presidential election results that will trigger a full hand recount.AP Photo/Brynn AndersonPolls have just officially closed in Georgia. We're watching a Senate primary, former Sen. David Perdue's challenge to Gov. Brian Kemp, another Trump-backed challenge to Secretary of State Brad Raffensperger, and a number of House primaries, including two Democratic House members facing off for the same Georgia district. Our Warren Rojas reports from the Kemp watch party that some counties are keeping polling locations open until 8 p.m. to account for delays at the beginning of the day, so we won't get statewide race calls until after then.–Grace PanettaInsider's Warren Rojas is in Georgia covering the governor raceGeorgia Gov. Brian Kemp (R) and former US Vice President Mike Pence attend a campaign event at the Cobb County International Airport.Joe Raedle/Getty ImagesFor a primer on the high stakes for the GOP in Georgia, check out this rundown of the race for Governor from Insider's Warren Rojas and Elvina Nawaguna. Rojas is in Georgia and will be reporting live from The Peach State all night. Both the former president and the former vice president have come down on opposite sides in the tense primary, they write:Perdue supporters are threatening to sit out the November elections if their candidate loses the primary rather than vote for Kemp, who they still hold responsible for Trump's 2020 loss in Georgia. Trump's team did not respond to a request for comment on the tele-rally, which comes days after news reports that he was backing away from Perdue as polls showed the candidate losing.Meanwhile, Kemp is already anticipating that pro-Trump Republicans could try to challenge his primary win after the Tuesday vote. He's trying to get ahead of it by assuring voters that any "mechanical" issues that might have marred the 2020 election have already been solved through a bill he signed into law last year.- Walt HickeyDonald Trump's funky winning ratePennsylvania Republican U.S. Senate candidate Dr. Mehmet Oz joins former President Donald Trump onstage during a rally in support of his campaign at the Westmoreland County Fairgrounds in Greensburg, Pennsylvania.Jeff Swensen/Getty ImagesHere's what we know about former President Donald Trump's primary endorsee win record: His numbers are great when the person he's endorsing is running unopposed or faces tepid or token opposition. It's easy to pick winners when you know they're going to win, right?Where things get funky for Trump: When he endorses a candidate in a tight, tough Republican primary race.In these kinds of contests, Trump's picks have often faltered or underperformed, as Jake Lahut, Madison Hall, Brent D. Griffiths, and Warren Rojas report in this analysis with lots of cool charts.What does that mean for tonight's races? It means that in Georgia, for example, Republican US Senate candidate Herschel Walker — a Trump endorsee — will likely cruise to victory because he has minimal opposition. But on the same ballot, Trump's gubernatorial pick, former US Sen. David Perdue, could very well lose to Trump nemesis and current Gov. Brian Kemp. — Dave LevinthalLive election results start streaming in at 7 p.m. ET. Here's where to find the results.Georgia election officials counting ballots.Jessica McGowan/Getty ImagesWe're covering dozens of primary races up and down the ticket in four states — click on the links below to see live results for each race Georgia Senate Georgia governor  Georgia secretary of stateGeorgia House and state legislature Alabama Senate & HouseAlabama governor & state legislatureTexas' 28th District Democratic primary runoffTexas attorney general and congressional runoffsArkansas Senate & HouseArkansas governor & state legislaturePolls close at 7 p.m. ET in Georgia, 8 p.m. ET in Alabama and most of Texas, and 8:30 p.m. ET in Arkansas  -Grace Panetta Read the original article on Business Insider.....»»

Category: worldSource: nytMay 24th, 2022

Live updates: Gov. Brian Kemp triumphs over Trump-backed David Purdue in Georgia

Georgia Gov. Brian Kemp and ex-Sen. David Perdue are vying for the GOP nomination, pitting a sitting governor against a Trump-backed challenger. InsiderInsider is be bringing you real-time election votes tonight for governor races, congressional races, a high-profile GOP primary over a safe Alabama senate seat, and state legislature primaries from Georgia, Alabama, Arkansas, and even a few high profile runoffs in Texas.Here's what we're paying attention to:Alabama's ruby-red Senate seat is up for grabs, with a congressman vying against a former Senate chief of staff in a GOP primary for the seat.And in Texas, incumbent Rep. Henry Cuellar is facing a progressive challenger from Jessica Cisneros in a runoff election after their March primary went into overtime.Marjorie Taylor Greene cruises to victory in bid to retain House seatRep. Marjorie Taylor Greene.John Bazemore-Pool/Getty ImagesGOP Rep. Marjorie Taylor Greene easily coasted to victory on Tuesday night, bringing in well over the 50% needed to avoid a runoff. She is vying to retain her seat in Georgia's 14th Congressional District. Click here to follow the other Georgia congressional races.— Madison HallMo Brooks, mo' (financial disclosure) problemsRepublican Rep. Mo Brooks of Alabama conducts a news conference.Tom Williams/CQ-Roll Call, Inc via Getty ImagesMo Brooks, who's on the comeback trail in Alabama after getting dumped by former President Donald Trump, is one of 60 members of Congress who violated the STOCK Act in the past year. His, however, was one of the most memorable.Brooks previously railed against the pharmaceutical company Pfizer, accusing it of playing politics with its vaccine data. Despite his disdain for the pharmaceutical giant, Brooks sold up to $50,000 in Pfizer stock in August 2021, but failed to disclose it until October of the same year, violating the federal STOCK Act. The reason for the late filing? Brooks' wife, Martha. She told Insider that she runs the family's investments, including her husband's, in addition to filing disclosures. Martha also told Insider that she's in charge of deciding which stocks to buy and sell in accordance with their family's financial advisor, but never with Mo's knowledge.According to Martha, her husband didn't even know he owned any Pfizer stock to begin with.— Madison HallBush loses, embattled AG wins another termGeorge P. BushJoe Skipper/ReutersTexas AG Paxton defeated Land Commissioner George P. Bush in a primary runoff for another term as attorney general. Paxton has been under indictment for securities fraud since 2015 but has yet to stand to trial and is reportedly facing an FBI investigation for abusing his office to benefit a wealthy donor, scandals Texas' senior Sen. John Cornyn called "embarrassing." But Paxton's role in helping Trump unsuccessfully overturn his 2020 election loss earned him Trump's support and helped him defeat the last member of the Bush dynasty in elected office. -Grace Panetta  The 'Unbreakable Nine' could get broken upRep. Henry CuellarKevin Dietsch/Getty ImagesA pair of moderate House Democrats who launched a short-lived rebellion against President Joe Biden's economic agenda are battling for their political survival this evening.Reps. Henry Cuellar of Texas and Carolyn Bourdeaux of Georgia are facing off against rivals in a pair of closely-watched primary races. Cuellar is competing against Jessica Cisneros, a 28-year-old immigration attorney with endorsements from Rep. Alexandria Ocasio Cortez of New York and Sen. Bernie Sanders of Vermont. And Bourdeaux is locked in a tight race against Rep. Lucy McBath, another candidate with strong progressive support.Progressives are hoping to oust moderates who they argue helped tank Biden's expansive social and climate spending package once known as Build Back Better. In particular, they're focused on unseating Cuellar, one of the "Unbreakable Nine" House Democrats who nearly derailed Biden's agenda. Sanders recently campaigned with Cisneros in San Antonio, Texas. He cast the race as a "battle against the billionaire class."Last year, both Cuellar and Bordeaux joined a rebellion with seven other House Democrats to split the bipartisan infrastructure law from passing alongside the Build Back Better bill. The latter measure eventually died in the Senate.— Joseph Zeballos-RoigArkansas polls have closedSen. John BoozmanBallotpediaArkansas closed its polls at 7:30 p.m. CT/8:30 p.m. ET on Tuesday and results should begin to trickle in soon. We've got two pages tracking Arkansas races: One for the Senate, where incumbent Sen. John Boozman is looking to retain his seat, and one for Arkansas' gubernatorial and local races.— Madison HallThe state of play in AlabamaAlabama Gov. Kay Ivey speaks during a news conference in Montgomery.AP Photo/Kim ChandlerIncumbent Republican Gov. Kay Ivey is believed to be a strong frontrunner to win renomination in deeply conservative Alabama, on the road to a likely GOP win this fall.And in the GOP Senate primary, GOP Rep. Mo Brooks, Katie Britt, who is Sen. Richard Shelby's former chief of staff, and businessman Mike Durant have been in a heated race for months. The 50-percent threshold is a tall one, and the top two candidates will likely head to a June 21 runoff. — John L. DormanGov. Brian Kemp trounces Trump-backed David PerdueGeorgia Gov. Brian Kemp walks onstage for a campaign event in Kennesaw, Georgia.Joe Raedle/Getty ImagesFormer President Donald Trump endorsed David Perdue, an ex-US senator, to punish Georgia Gov. Brian Kemp for not supporting his efforts to overturn the 2020 election. But Perdue's campaign struggled to keep pace with Kemp's spending, and Kemp resoundingly defeated Perdue early on Tuesday night, dealing a huge blow to Trump.Perdue is now the third Trump-endorsed candidate to lose in three weeks, following Charles Herbster in Nebraska and Lt. Gov. Janice McGeachin in Idaho. — Grace PanettaInsider on the ground in GeorgiaGeorgia gubernatorial hopeful David Perdue poses alongside a cardboard cutout of former President Donald Trump during a campaign stop in Augusta, Georgia.Warren Rojas/InsiderOver the past few days, Insider correspondent Warren Rojas has traveled across Georgia attending events headlined by many of the leading Republican contenders and speaking with voters about everything from Gov. Brian Kemp's standing in the party to the influence of former President Donald Trump.Here are some of the highlights:Former Vice President Mike Pence on Monday traveled to Georgia to campaign on behalf of Kemp, putting him at odds with his former boss, who is all-in for ex-Sen. David Perdue. While Kemp was thought to be vulnerable over his defense of the integrity of the 2020 presidential vote in the state, Perdue has lagged in fundraising and endorsements, and the incumbent has also effectively used his bully pulpit to work in tandem with the GOP-controlled legislature to enact conservative legislation.While Perdue has had trouble gaining traction in the polls, controversial Rep. Marjorie Taylor Greene remains a major draw for conservatives. She remains a powerful force in the MAGA movement, and is highly regarded as the favorite this fall in her congressional district, which was drawn to elect a Republican.— John L. DormanWhat is Herschel Walker's John Hancock worth?Herschel Walker speaks at a Trump rally in Georgia.Sean Rayford/Getty ImagesRepublican US Senate candidate Herschel Walker has some significant — and complicated — personal finances. So significant and complicated, apparently, that Walker failed for months to properly report millions of dollars in earnings that he's required by federal law to disclose, as Insider reporter Madison Hall revealed last week.But here's another financial curiosity: If Walker wins his primary tonight as expected, then defeats incumbent Democratic Sen. Raphael Warnock in November's general election, he'll stand to earn a standard Senate salary of $174,000.That's less than Walker, a former football star, earned last year from "memorabilia autograph services" he provided to Gary Takahashi Sports Marketing LLC, a firm known for monetizing athletes' John Hancocks.Walker's most recent personal financial disclosure, submitted May 15 to the US Senate, indicates Gary Takahashi Sports Marketing LLC paid Walker "wages" of $211,544. — Dave LevinthalMarjorie Taylor Greene: Disney fan or no?Rep. Marjorie Taylor Greene.Megan Varner/Getty ImagesRep. Marjorie Taylor Greene of Georgia faces a handful of Republican primary challengers tonight, most notably "no-nonsense conservative" Jennifer Strahan. But the bombastic freshman is expected to win her party's nomination on the strength of her ultra-MAGA platform. Recently, Greene picked a fight with Walt Disney Co. for its opposition to a new Florida law that outlaws lessons about gender identity and sexual orientation. But what many Georgia voters probably don't realize is that the lawmaker personally invests in Disney stock. Asked about this, Greene told Insider that she doesn't make her own stock trades.She reiterated this assertion during a candidate debate earlier this month when one of her opponents, Seth Synstelien, asked her about her investments in defense contractor stocks."I usually find out about stock trades when I read them in the news just like you have," Greene said. "I signed an agreement with our financial advisor that I don't know anything about trades made on behalf of me or my husband. I always find out about them when they are written by leftists like Business Insider just like you are talking about."— Dave Levinthal Stacey Abrams' campaign is spending big bucks on securityStacey Abrams addresses the Gwinnett County Democratic Party fundraiser in Norcross, Georgia.Akili-Casundria Ramsess/ APStacey Abrams will cruise to victory in Georgia's gubernatorial primary today but is gearing up for one of the most contentious races in the country.As one of the most high-profile Democrats in the nation, she's spent a substantial sum on security. In fact, her security agency, Executive Protection Agencies, was the third highest payee in her campaign expense reports, costing her campaign a total of $390,132. As Insider's C. Ryan Barber previously reported, Abrams' voting rights PAC, Fair Fight, spent more than $1.4 million on security in 2020 and 2021, with the bulk of that money going toward Executive Protection Agencies.And while these expenditures are significantly more than that of most politicians and candidates in the US, the threats are real: former congresswoman Gabby Giffords was shot in the head in 2011 at a constituent meeting and GOP Whip Rep. Steve Scalise was shot at a Congressional baseball game in 2017.— Madison HallPolls close in the Peach StateGeorgia Secretary of State Brad Raffensperger speaks during a news conference in Atlanta. Georgia election officials have announced an audit of presidential election results that will trigger a full hand recount.AP Photo/Brynn AndersonPolls have just officially closed in Georgia. We're watching a Senate primary, former Sen. David Perdue's challenge to Gov. Brian Kemp, another Trump-backed challenge to Secretary of State Brad Raffensperger, and a number of House primaries, including two Democratic House members facing off for the same Georgia district. Our Warren Rojas reports from the Kemp watch party that some counties are keeping polling locations open until 8 p.m. to account for delays at the beginning of the day, so we won't get statewide race calls until after then.–Grace PanettaInsider's Warren Rojas is in Georgia covering the governor raceGeorgia Gov. Brian Kemp (R) and former US Vice President Mike Pence attend a campaign event at the Cobb County International Airport.Joe Raedle/Getty ImagesFor a primer on the high stakes for the GOP in Georgia, check out this rundown of the race for Governor from Insider's Warren Rojas and Elvina Nawaguna. Rojas is in Georgia and will be reporting live from The Peach State all night. Both the former president and the former vice president have come down on opposite sides in the tense primary, they write:Perdue supporters are threatening to sit out the November elections if their candidate loses the primary rather than vote for Kemp, who they still hold responsible for Trump's 2020 loss in Georgia. Trump's team did not respond to a request for comment on the tele-rally, which comes days after news reports that he was backing away from Perdue as polls showed the candidate losing.Meanwhile, Kemp is already anticipating that pro-Trump Republicans could try to challenge his primary win after the Tuesday vote. He's trying to get ahead of it by assuring voters that any "mechanical" issues that might have marred the 2020 election have already been solved through a bill he signed into law last year.- Walt HickeyDonald Trump's funky winning ratePennsylvania Republican U.S. Senate candidate Dr. Mehmet Oz joins former President Donald Trump onstage during a rally in support of his campaign at the Westmoreland County Fairgrounds in Greensburg, Pennsylvania.Jeff Swensen/Getty ImagesHere's what we know about former President Donald Trump's primary endorsee win record: His numbers are great when the person he's endorsing is running unopposed or faces tepid or token opposition. It's easy to pick winners when you know they're going to win, right?Where things get funky for Trump: When he endorses a candidate in a tight, tough Republican primary race.In these kinds of contests, Trump's picks have often faltered or underperformed, as Jake Lahut, Madison Hall, Brent D. Griffiths, and Warren Rojas report in this analysis with lots of cool charts.What does that mean for tonight's races? It means that in Georgia, for example, Republican US Senate candidate Herschel Walker — a Trump endorsee — will likely cruise to victory because he has minimal opposition. But on the same ballot, Trump's gubernatorial pick, former US Sen. David Perdue, could very well lose to Trump nemesis and current Gov. Brian Kemp. — Dave LevinthalLive election results start streaming in at 7 p.m. ET. Here's where to find the results.Georgia election officials counting ballots.Jessica McGowan/Getty ImagesWe're covering dozens of primary races up and down the ticket in four states — click on the links below to see live results for each race Georgia Senate Georgia governor  Georgia secretary of stateGeorgia House and state legislature Alabama Senate & HouseAlabama governor & state legislatureTexas' 28th District Democratic primary runoffTexas attorney general and congressional runoffsArkansas Senate & HouseArkansas governor & state legislaturePolls close at 7 p.m. ET in Georgia, 8 p.m. ET in Alabama and most of Texas, and 8:30 p.m. ET in Arkansas  -Grace Panetta Read the original article on Business Insider.....»»

Category: personnelSource: nytMay 24th, 2022

N.Y. Will Soon Require Businesses to Post Salaries in Job Listings. Here’s What Happened When Colorado Did It

Colorado is the only state with pay transparency statutes, but New York City plans to follow Job hunting can be exhausting and full of unknowns. Over the past year, Alaina, a 31-year-old biotech sales associate in Denver, Colo., started looking at job listings online, but she was able to scratch out at least one unknown: salary. In Jan. 2021, Colorado took the unusual move of instituting a law, the Equal Pay for Equal Work Act (sponsored by four female Democrats in the General Assembly), that requires online job listings to include compensation information, right there on the post. It is the only state in the U.S. that mandates this type of transparency, but on Nov. 1, 2022, New York City plans to follow in its footsteps with its own pay disclosure law, requiring companies with more than four employees to post salary ranges. [time-brightcove not-tgx=”true”] The New York law was initially set to take effect on May 15, 2022, but after pushback from businesses in late April, the city council delayed the start date to November 2022, and amended the law to only apply to hourly and salaried positions that are physically performed in New York City—showing how controversial this type of legislation can be. But for job seekers like Alaina, who asked to go by her first name as she continues her job hunt, the transparency is a boon. It makes the search more efficient—and clarifies some big question marks well in advance of putting together a cover letter and going through an interview process. A new report from workforce analytics companies XpertHR and Gapsquare showed that over 80% of U.S. employers who undertook pay equity audits found equity gaps in their organizations, reinforcing the need for legislation to help balance the scales. For businesses and HR departments, pay transparency is a needed reminder to keep equity at the fore—but, as companies in Colorado have discovered, it’s also a big operational headache. Ben Wright founded Velocity Global eight years ago as “kind of an Airbnb” for helping businesses set up the structure for international workforces. “We’ve got the platform to ensure that you are hiring, paying, onboarding people, literally anywhere on the planet, 185 countries, all 50 United States,” he says over the phone from his home base in Denver, Colo. Velocity Global employs about 1,000 people globally itself—many based in Colorado, which Wright describes as “generally a business-friendly state.” Pay equity has been central to his business since the get-go, he says, so when the law came into being, he fully understood the intent. But the way it needs to be applied has been frustrating. “Out of the gates, suddenly, every job posting had a salary, right? You cannot paint every single person in every single job with that same brush,” he says. “Maybe you’ve got somebody on board who is less experienced or had a change of career. So we’re not necessarily going to pay as much. But you’ll earn your way into a better salary if you succeed.” With the new law, that flexibility is limited. “It just created so much angst and anxiety across the board. We lost some good people because of it,” he says; some employees exited after adjustments were made. “Frankly, we actually limited our ability to go get people at higher compensation, who we would have wanted to be in those roles, because they look at it and you have to pick a standard pay for that role,” he says. And, as remote work has become the norm for many companies, the Colorado law seems too far-reaching, Wright suggests. “What you pay somebody for a job in Denver is completely different from what you pay somebody in London is completely different from what you pay somebody in Kuala Lumpur,” he says. Plus, Wright says most countries don’t have similar regulations—even worker-friendly populist states like Brazil and France. (Canadian companies based in the province of Ontario are required to share salary ranges on listings, however, and the EU is considering similar legislation this year. Other countries have made a push for transparency in gender pay equity, and some like Norway have made existing salary information available upon request.) Over at the Colorado Chamber of Commerce, President and CEO Loren Furman shares some of Wright’s concerns. “This statute has probably caused some of the most consternation to Colorado employers, more than many of the laws that we’ve seen over the last couple of years,” she says. The bill itself has good intentions, she says, calling it “fairly innocuous” in its early stages in 2019, especially in a pre-pandemic environment where remote work was less of a norm. “When the statute got interpreted through rulemaking, it got a lot more complicated and stringent on employers, and a lot more requirements than I think any of us anticipated,” she says. In the most recent legislative session, the Chamber was working with the governor’s office to change the statute to make it less onerous for employers to adapt to. In a tough hiring market, “it’s a workforce problem for the state of Colorado,” Furman says. The ultimate impact, however? “It increased compensation, on average, across the board,” Wright says of his employees’ new conditions. “If they win, we all win. That’s all great. But you know, it’s also within the confines of whether the organization can continue as a profitable enterprise.” He says Velocity Global is “slightly less profitable” as a result. They had to invest more in HR hiring to manage the transition, too, and they lost some employees along the way. “Equal pay is important. I just think there’s more thoughtful ways to go about implementing such a thing,” he says. While Wright says that the business leaders he’s spoken with have been “quite upset” about the legislation, a sentiment echoed by Furman, not all companies begrudge the change. StoneAge Tools is a rarity: the industrial cleaning provider is a fully employee-owned operation with an employee stock ownership plan, or ESOP. Based in the small town of Durango, Colo. (“Go to the middle of nowhere and hang a left,” jokes director of human resources Betsy Fitzpatrick), it’s the type of company that has always been unusually transparent in its finances, with about 160 employees. “I initially viewed the Equal Pay for Equal Work Act as a negative, but I now appreciate the accountability it creates,” says CEO Kerry Siggins. They made an effort to benchmark every position at the company to ensure they were complying with the new act, and found a discrepancy in wages for lower-paid workers. They increased wages and set a new minimum of $20 an hour. “I am proud of these changes,” Siggins says. For HR director Fitzpatrick, the work of adjusting to the new law has been worth it. “I had already been anticipating it for a couple of years,” Fitzpatrick says. Her advice to HR managers preparing for changes: “Don’t be reactionary, be proactive.” She recognizes that the intention is to “correct a very long legacy of discrimination and unequal treatment in the workplace. And so for me, I don’t begrudge work that is of that nature. So embrace it.” The legislation also narrowed the focus of their candidate pool when recruiting and hiring. Siggins says that candidates tend to “self-select” when they have the available compensation information. Pay conversations now happen within the first round of interviewing, rather than second or third. “They’re not going to waste their time with us, and we’re not wasting our time either,” she says. That’s certainly been the case for Alaina, the biotech sales job seeker. In her case, salary expectations were already fairly standard in the industry. “I really, really, really like this law,” she says. “Companies are now having a really hard time keeping Millennials. We have been screaming from the top of our lungs for the last five, ten years that we don’t feel appreciated.” This helps level the playing field between employers and employees, she says. “It makes workers feel like they’re not getting the short end of the stick.” Pay conversations have become much more normalized amongst her peers over the past few years, and this just adds to that trend. Plus, for Alaina at least, the bottom line is that her next job will be a step up. Her job hunt is winding down: she expects to sign a new contract shortly. “And I will be making a lot more,” she says, proudly. New York City may have delayed its law, but when it finally comes into effect next fall, many workers may find themselves in similar positions to Alaina: equipped with extra knowledge, and able to bargain for more......»»

Category: topSource: timeMay 23rd, 2022

The self-care habits of successful entrepreneurs who book 6 figures and raise millions in venture capital

More and more entrepreneurs are prioritizing self-care so they can keep up with their all-consuming, pressure-filled lifestyles. Nikkie Pryce is a self published author.Avalon Fotography Self-care is an important part of keeping up with the all-consuming lifestyle of an entrepreneur. A 2018 study found that entrepreneurs were more likely than others to self-report mental illnesses. Founders of six-figure companies told Insider how they prioritize themselves. Running a company often demands early mornings and late nights and doesn't leave much free time.Self-care is an important part of keeping up with the all-consuming, pressure-filled lifestyle of a founder. A study published in the journal Small Business Economics in 2018 found that entrepreneurs were more likely than a control group to self-report mental illnesses such as depression and bipolar disorder.Insider regularly talks with entrepreneurs about how they organize their days to balance their many responsibilities while making time for self-care. Here are the habits they've formed to unwind, boost their productivity, and stay physically and mentally healthy.Dominic-Madori Davis contributed to this article.Nikkie Pryce meditates and takes herself to a restaurantNikkie Pryce.Avalon FotographyNikkie Pryce is a self-published author and speaker in Fort Lauderdale, Florida, who coaches women to write their own books. In 2021 her company generated $124,000 in revenue.She previously told Insider that she uses meditation apps to calm her thoughts when she wakes up in the morning and before she goes to bed.She also puts her phone on "do not disturb" mode until 9 a.m. and won't answer messages or emails unless they're urgent. "My assistant knows I'm not taking calls, because I really need time to pour into myself before I pour into everybody else," she said.Pryce also likes to take herself to a restaurant or go shopping to unwind. "I will put on my AirPods and go to Target for detergent and walk out with a whole jogging suit and some wall decor," she said. "But it's so therapeutic for me."Jackie Nguyen likes a shopping trip to calm her mindJackie Nguyen.Courtesy of Jackie NguyenJackie Nguyen is the owner of Cafe Cà Phê, a Vietnamese coffee truck in Kansas City, Missouri. Her business had made more than $186,000 in sales by September.She previously told Insider that she's usually too busy to eat when she wakes up at 6 a.m. but that she'll sometimes grab a granola bar or banana.On Wednesdays she has an hour of therapy. Mondays and Tuesdays are her days off from work. One of her favorite things to do is walk around Target or TJ Maxx with her headphones in. She'll call a friend or listen to music and grab a smoothie."It's my little me time," she said. "If I sit at home, I'm tempted to work or clean."Sharmadean Reid manages burnout with nature and a bookSharmadean Reid.Sharmadean ReidSharmadean Reid is the founder of the women-centric financial publication The Stack World. She's raised nearly £4 million in funding and amassed almost 1,000 paying members since its launch last March.Reid previously told Insider that she manages burnout by driving to the English countryside to spend time in nature and read a book on philosophy."The main thing is reconnecting with my life's purpose," she said. "If you know you're doing something for something bigger than you, it helps you stay aligned and motivated."Jackie Dubois took time away from social media to focus on her mental healthJackie Dubois.Courtesy of DuboisJackie Dubois is a painter and former TikTok creator who's booked six figures' worth of sales by selling her paintings and prints online.She previously told Insider that she became overwhelmed by the pressure to post on social media and take strangers' feedback, so she stopped sharing for her well-being."Our brains are not meant to handle so much stimulation, input, and commentary from millions of strangers on the internet," Dubois said. "It can be really crushing to see this huge high, to have a good response, followed by a huge low."Olivia Landau starts her mornings by working out and watering her plantsOlivia Landau.The Clear CutOlivia Landau is the cofounder of The Clear Cut, an engagement-ring and diamond-jewelry business. In 2021 her company averaged $1 million in monthly sales.Every weekday morning Landau does a Peloton or Sculpt Society workout for 30 to 45 minutes. While she's cooling down she waters her plants on her apartment terrace.At night she likes to cook dinner, and in the summer she and her husband grill outside. "I'll try new recipes all the time because that's kind of my way of decompressing for the day," she previously told Insider.Ginni Saraswati practices gratitude and meditationGinni Saraswati.Courtesy of Ginni SaraswatiGinni Saraswati is the founder of Ginni Media, a podcasting company that made $500,000 in revenue in 2020.Saraswati told Insider that every morning she writes down what she's grateful for and meditates. Then she walks four blocks to the gym, where she does strength training and cardio for about 30 minutes. On Thursdays she does boxing.At night before bed she likes to light a candle, use a foot massager, put on a face mask, and read a book. Some nights she listens to her meditation app or a MasterClass. "I love learning, so I'll listen to an audiobook or podcast," she said.Ciara Imani May relaxes at night by checking in with loved ones and watching TVRebundle CoFounders, Danielle Washington (left) and Ciara Imani May (right)Curtis Taylor, Jr.Ciara Imani May is the cofounder of Rebundle, a company that sells plant-based synthetic braiding hair. Last year, May raised a $1.4 million pre-seed. May told Insider she finishes work around 5 p.m. and focuses on her personal life. She'll start by checking in with her friends and family before spending time with her dog. Then, before bed, she watches a drama show and sitcom to help keep her mind off work. "I enjoy the perfect balance of comedy and crime," she said.  Kelly O'Sullivan McKenna cooks dinner and takes nighttime walksKelly O'Sullivan McKenna.Kelly O'Sullivan McKennaKelly O'Sullivan McKenna has her own private therapy practice Sit With Kelly that she started in February 2021 after working in the mental-health industry for almost six years. Last year, her company booked $250,000 in revenue. She previously told Insider that she schedules her work days to best manage her anxiety, which has worked so far. She only sees clients on Mondays, Tuesdays, and Thursdays and handles adminstrative tasks on other two days. She prioritizes breaks while working, taking time out of her schedule to cook breakfast and lunch and go for an afternoon walk.McKenna also relaxes by cooking dinner with her husband after finishing work at 5 p.m. She says she loves to also go on a nighttake walk, or watch tv to wind down.There's always going to be more you can do. It's about recognizing that where you are right now is good enough, even if you want to grow," she said.  Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 18th, 2022

The Bizarre, Unanimous Dem Support For The $40b War Package To Raytheon And CIA: "For Ukraine"

The Bizarre, Unanimous Dem Support For The $40b War Package To Raytheon And CIA: "For Ukraine" Authored by Glenn Greenwald via greenwald.substack.com, After Joe Biden announced his extraordinary request for $33 billion more for the war in Ukraine — on top of the $14 billion the U.S. has already spent just ten weeks into this war — congressional leaders of both parties immediately decided the amount was insufficient. They arbitrarily increased the amount by $7 billion to a total of $40 billion, then fast-tracked the bill for immediate approval. As we reported on Tuesday night, the House overwhelmingly voted to approve the bill by a vote of 388-57. All fifty-seven NO votes came from Republican House members. Except for two missing members, all House Democrats — every last one, including all six members of the revolutionary, subversive Squad — voted for this gigantic war package, one of the largest the U.S. has spent at once in decades. U.S. Rep. Alexandria Ocasio-Cortez (D-NY) speaks to a group of supporters during a rally at the U.S. Capitol on August 03, 2021 in Washington, DC. (Photo by Kevin Dietsch/Getty Images) While a small portion of these funds will go to humanitarian aid for Ukraine, the vast majority will go into the coffers of weapons manufacturers such as Raytheon, Lockheed Martin, Boeing and the usual suspects. Some of it will go to the CIA for unspecified reasons. The extreme speed with which this was all approved means there is little to no oversight over how the funds will be spent, who will profit and how much, and what the effects will be for Ukraine and the world. To put this $54 billion amount in perspective, it is (a) larger than the average annual amount that the U.S. spent on its own war in Afghanistan ($46 billion), (b) close to the overall amount Russia spends on its entire military for the year ($69 billion), (c) close to 7% of the overall U.S. military budget, by far the largest in the world ($778 billion), and (d) certain to be far, far higher — easily into the hundreds of billions of dollars and likely the trillion dollar level — given that U.S. officials insist that this war will last not months but years, and that it will stand with Ukraine until the bitter end. Voice of America, Apr. 6, 2022 What made this Democratic Party unanimity so bizarre, even surreal, is that many of these House Democrats who voted YES have spent years vehemently denouncing exactly these types of war expenditures. Some of them — very recently — even expressed specific opposition to pouring large amounts of U.S. money and weaponry into Ukraine on the grounds that doing so would be unprecedentedly dangerous, and that Americans are suffering far too severely at home to justify such massive amounts to weapons manufacturers and intelligence agencies. Here, for instance, is the shocking-in-hindsight warning of Rep. Ilhan Omar (D-MN) on March 8 — just two months before she voted YES on this $40 billion weapons package: Just as stridently, her progressive House Democratic colleague, Rep. Ro Khanna (D-CA), appeared on Democracy Now on February 8 to discuss the imminent Russian invasion of Ukraine, and he explicitly and repeatedly demanded that no lethal arms be sent by the U.S. into Ukraine. Indeed, Khanna, while repeatedly denouncing Putin's aggression, heaped praise on former President Obama for long resisting bipartisan demands to send lethal arms to Ukraine — based on Obama's oft-stated belief that Ukraine is and always will be a vital interest to Russia, but will never be to the U.S. — and argued that such a move would be dangerously escalatory: I certainly join [House progressives] in the concerns of having increased aid, lethal aid, into that area. That will only inflame the situation. I also join them in the concern that we need restraint, that the last thing the American people want is an escalation which could lead us to some long war in Ukraine with Russia, that that’s a very dangerous situation, and no one in this country — or, very few people in this country would want that. There’s a reason President Obama didn’t send lethal aid into Ukraine and had a greater restraint in his approach. So, I do think we should do everything possible not to escalate the situation, while having the moral clarity that Putin is in the wrong in this case…. The arguments Khanna was endorsing from House progressive leaders came in the form of a January 26 press release from co-caucus-leaders Reps. Barbara Lee (D-CA) and Pramila Jayapal (D-WA). The progressive duo argued: “There is no military solution out of this crisis — diplomacy needs to be the focus.” Then they added this: “We have significant concerns that new troop deployments, sweeping and indiscriminate sanctions, and a flood of hundreds of millions of dollars in lethal weapons will only raise tensions and increase the chance of miscalculation. Russia’s strategy is to inflame tensions; the United States and NATO must not play into this strategy.” Just over three months later, both Lee and Jayapal voted not for a "flood of hundreds of millions of dollars in lethal weapons,” but to flood Ukraine with tens of billions of dollars in lethal weapons. One would think that when a member of Congress engages in such a remarkable and radical shift in their position, they would at least deign to provide some explanation for why they did so. In the case of the Squad and dozens of House progressives, one would be very wrong. On Friday morning, I emailed and/or texted the press representatives of the five Squad members who have said nothing about their vote (only Rep. Cori Bush (D-MO), in a doozy of a statement discussed below, bothered to explain), and directly texted both Omar and Khanna. Other reporters also have requested statements. More than seventy-two hours after they cast this enormously consequential war vote, they still have refused to explain themselves or even issue a cursory statement as to why they supported this (see update below). This vote, and their silence about it, is particularly confounding — one could, without hyperbole, even say chilling — given how rapidly Democrats’ rhetoric about Ukraine is escalating. As we noted on Tuesday, many leading Democrats, such as Rep. Jason Crow (D-CO), have begun speaking about this war not only as an American proxy war — which it has long been — but as “our war” that we must fight to the end in order for “victory” to be ours, while Sen. Lindsey Graham (R-SC) vows that there be “no off ramps” to end the war diplomatically, since the real goal of the war is regime change in Moscow. Even worse, the eighty-two-year-old House Democratic Majority Leader Steny Hoyer (D-MD), now in his twentieth term in Congress, went to the House floor on Friday to twice say that "we are at war” — meaning the U.S is now at war with Russia — and that it is therefore inappropriate to heavily criticize our president: As the Bulletin of Atomic Scientists has spent decades pointing out, there is nothing more dangerous to humanity than a war between the two nations with the planet's largest nuclear stockpiles. One might think that those who just voted to dangerously escalate such a war would at least deign to explain themselves, especially those who have repeatedly made recent statements violently at odds with the YES vote they just cast. Even Sen. Bernie Sanders (I-VT), who has thus far said nothing about this House vote, warned in The Guardian in early February, that while Putin is immoral and tyrannical, the West bears some blame for provoking this war with reckless NATO expansion and, more importantly, warned of the grave and unpredictable dangers of having the U.S. pursue a strategy of fueling the war rather than trying to solve it diplomatically. So exceptional is this headlong rush into this war that even The New York Times — usually loyally supportive of U.S. war policies and the Democratic establishment — published a highly unusual news article about the House vote which repeatedly and harshly criticized Congress for being too frightened to ask questions or express skepticism about Biden's war policy. The NYT took the members of Congress voting YES in both parties to task for being cowed into submission, meekly falling into line. The headline of the article told the story — “House Passes $40 Billion More in Ukraine Aid, With Few Questions Asked" — as the Paper of Record all but called these YES-voting members of Congress cowards and abdicators: The escalating brutality of the war in Ukraine has dampened voices on both the right and left skeptical of the United States’ involving itself in armed conflict overseas, fueling a rush by Congress to pour huge amounts of money into a potentially lengthy and costly offensive against Russia with few questions or reservations raised….[L]awmakers in both political parties who have previously railed against skyrocketing military budgets and entanglements in intractable conflicts abroad have gone largely silent about what is fast becoming a major military effort drawing on American resources…. That total — roughly $53 billion over two months — goes beyond what President Biden requested and is poised to amount to the largest foreign aid package to move through Congress in at least two decades….But stunned by the grisly images from Ukraine and leery of turning their backs on a country whose suffering has been on vivid display for the world, many lawmakers have put aside their skepticism and quietly agreed to the sprawling tranches of aid, keeping to themselves their concerns about the war and questions about the Biden administration’s strategy for American involvement….. And as Mr. Biden’s requests to Congress for money to fund the war effort have spiraled upward, leaders in both parties have largely refrained from questioning them…..The result has been that, at least for now, Congress is quickly and nearly unanimously embracing historic tranches of foreign aid with little public debate about the Biden administration’s strategy, whether the volume of military assistance could escalate the conflict, or whether domestic priorities are being pushed aside to accommodate the huge expenditures overseas. Perhaps the most remarkable part of this surreal episode is the statement issued by Rep. Bush, ostensibly explaining and justifying her YES vote. If you are able to discern some sort of cogent explanation from this statement, it means that you have better reading skills than I. While Rep. Bush at least deserves credit for bothering to try to explain her vote — in contrast to her fellow Squad members who have thus far refused to do so — by far the clearest and most significant part of what she says are her admissions of the horrible and dangerous parts of this bill, for which she just voted YES. Behold these admissions: Additionally, at $40 billion, this is an extraordinary amount of military assistance, a large percentage of which will go directly to private defense contractors. In the last year alone, the United States will have provided Ukraine with more military aid than any country in the last two decades, and twice as much military assistance as the yearly cost of war in Afghanistan, even when American troops were on the ground. The sheer size of the package given an already inflated Pentagon budget should not go without critique.  I remain concerned about the increased risks of direct war and the potential for direct military confrontation.  Imagine saying this about a bill — recognizing how wasteful and dangerous it is — and then snapping into line behind Nancy Pelosi and voting for it anyway to ensure Democratic Party unanimity in support of this war. Credit to Rep. Bush for candor, I suppose. One person whose name has not yet appeared in this article is Rep. Alexandria Ocasio-Cortez (D-NY). That is because we published on Wednesday a comprehensive video report on Rumble, documenting how AOC's YES vote on this war package so violently contradicts virtually everything she has ever claimed to believe about questions of war, militarism and military spending. AOC, needless to say, has not bothered to reconcile this vote with the drastically divergent body of statements she has uttered her entire adult life because her blind followers do not demand anything of her, let alone explanations for why she does what she does (which is why she knew she could, in the middle of the COVID pandemic, attend the Met Gala — the nation's most gluttonous celebration of capitalist excess and celebrity culture — and attended to indoors by a team of masked servants while she and her boyfriend remained comfortably and glamorously unmasked, and then show total contempt for her fans by hilariously spray-painting a banal, inoffensive phrase on the back of her designer gown, knowing this would make them not only accept her behavior but celebrate her heroic subversiveness). The full video about how the Squad and AOC just permanently killed whatever was left of the U.S. left-wing anti-war movement can be seen on our Rumble page, or watched on the video player below. A full transcript of that video appears below for subscribers only. Only two months ago, those who observed that this was not a war between Russia and Ukraine, but really a proxy war between Russia and the U.S./NATO, were vilified as Kremlin propagandists. Now, U.S. leaders openly boast of this fact, and go further, claiming that the U.S. is actually at war with Russia and must secure full victory. That there is not a single Democratic politician willing to object to or even question any of this speaks volumes about what that party is, as well how dangerous this war has become for Americans and the world generally. UPDATE, Mar. 14, 2022, 6:56 a.m. ET: Rep. Khanna provided the following comment in response to our question of how he can reconcile his argument in his February 8 Democracy Now interview that the U.S. should not send lethal arms to Ukraine with his vote on Monday to send lethal arms: I wanted to do everything we could to prevent conflict through diplomacy and so did not want to escalate prior to invasion. But once Putin invaded and has been barbarically destroying towns and cities, I believe it is morally justified to stand firmly with Ukraine in defense of their territory and provide them with military and economic assistance. We at the same time need to be aggressively encouraging diplomatic talks and a ceasefire and enlisting countries who can play a mediating role to help us bring this brutal war to an end. Note that the assumption of that entire was interview was that Russia would invade Ukraine. Indeed, the first question to which Rep. Khanna responded, when arguing that the U.S. should not send lethal aid to Ukraine, was this one: “And do you support the threat of devastating sanctions against Russia in the event of any kind of Russian invasion of Ukraine?” Nonetheless, in contrast to many of his House colleagues, at least he is willing to account for the vote he cast. We will add any further comments in response to our requests for comment if and when we receive them. To support the independent journalism we are doing here, please subscribe, obtain a gift subscription for others and/or share the article Tyler Durden Sat, 05/14/2022 - 11:30.....»»

Category: smallbizSource: nytMay 14th, 2022

23 practical, thoughtful gifts for law school graduates

Law school graduates have spent years earning their JD. Get them a graduation gift that celebrates that success. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Law school graduates have spent years earning their JD. Get them a graduation gift that celebrates that success.Crystal Cox/Insider; EtsyEarning a JD requires years of schooling and countless nights in the library, poring over books on topics like constitutional law and legal research. At the end of it all, law school graduates earn their diplomas and then prepare for a 12-hour bar exam.In other words, JDs deserve quite a bit of celebration. If you want to commemorate your law school graduate's big achievement (or help alleviate discomfort in their next chapter), you'll find 23 thoughtful gifts for law school graduates below. The 23 best law school graduation gifts in 2022:A nice bottle of Champagne delivered to their doorstepCrystal Cox/Business InsiderGift a bottle of Veuve Clicquot Brut Champagne, available at Drizly, $62.70Send them a nice bottle of bubbly to celebrate an achievement that took them years spent in the library to accomplish.A custom mini graduation gown to put over said bottle of bubblyEtsyGift a customized Cap & Gown Bottle Cover, available at Etsy, $27.95 Celebrate the occasion with a tiny graduation gown to slip over the wine you'll use to toast them later. The gift is personalized, so you'll include details like the school name, school colors, and hood colors in your order description.Nice noise-canceling headphonesAntonio Villas-Boas/Business InsiderGift a pair of Sony WH-1000XM4 Headphones, available at Amazon, Best Buy, and Target, from $348Our favorite noise-canceling headphones, Sony's WH-1000XM4, offer a perfect blend of great sound quality, A+ noise cancellation, and comfort. It makes them perfect for long commutes, focusing in noisy work spaces, or just relaxing.They're also one of the items featured in our list of the All-Time Best products we've tested.Our most recommended French pressOwen Burke/InsiderGift the Bodum Chambord French Press, $25.99, available at AmazonIf their law career requires late nights and early mornings, they'll probably appreciate a good cup of coffee. We love the Bodum Chambord French Press; it's timeless, easy to operate, and entirely unfussy. Best part? It's also affordable.You can find all our favorite French presses here (though this is our number one pick).A funny, thoughtful cardEtsyGift the "See You Later Litigator" card, available at Etsy, $4Anyone can pick up a card from a nearby drugstore. But law school graduation is a unique occasion that doesn't happen often — and your graduate will probably appreciate something picked out in advance for the big day.If they're really more of an Elle Woods fan, try this one instead. A gift card for ordering takeoutThe GrubHub logo seen displayed on a smartphone.Igor Golovniov/SOPA Images/LightRocket via Getty ImagesGift a GrubHub gift card, available at GrubHub from $10They may not have the energy to cook every night after work. Get them a gift card for the impending evenings in which takeout feels essential. An alarm clock that mimics the sunriseSuzy Hernandez/InsiderGift a Hatch Restore Sunrise Alarm Clock, available at Amazon, Target, and Nordstrom, $129.99A pleasant alarm clock can help weekday mornings — whenever they begin — feel markedly less abrupt. This one functions as a sound machine, reading light, and gentle alarm. They can control the color of the light, brightness, sound, and volume.A luxe folio they'll own for yearsLeatherologyGift the Leatherology Deluxe Folio, available at Leatherology, $150This Deluxe Folio is made in full-grain leather, has smart organization and storage, and fits a standard letter pad. It'll come gift-wrapped, and you can have it monogrammed for $10 more, too.A beautiful bouquetUrbanStemsGift a bouquet of flowers, available at UrbanStems, from $40Send flowers if you can't be there in person, or if you're supplementing a digital gift like a gift card. We're fans of UrbanStems; its bouquets are one of the best things we've ever tested. If you're looking for something that won't be gone after a couple of weeks, you'll also find options for potted plants and low-maintenance dried bouquets.Ruth Bader Ginsburg's memoirAmazonGift "My Own Words" by Ruth Bader Ginsburg, available at Amazon and Bookshop, from $10.56If Supreme Court Justice Ruth Bader Ginsburg is the reason they went into law in the first place, commemorate their achievement with the gift of her memoir. In it, RBG writes about her fascinating life as one of the most influential voices in law, from her thoughts on gender equality to the interpretation of the US Constitution.A sleek smart mug that keeps their drinks hotAmazonGift an Ember Temperature Control Smart Mug, available at Amazon, $149.95This mug will control the temperature of their coffee or tea, so they won't have to reheat or dump it out every few hours. A former teammate called the Ember "life-changing." If you're looking for a travel version, the brand has those, too.A gift card to keep them activeClassPassGift a ClassPass gift card, available at ClassPass, any amountNo matter what their work schedule looks like, it's important that your law school graduate still gets healthy exercise. Lower the barrier to entry and gift them a ClassPass gift card. With it, they can try tons of boutique fitness classes in their area. And if they really need to unwind, they can use their credits for relaxing meditations and spa treatments.A gift card for professional clothingNordstromGift a Nordstrom gift card, available at Nordstrom, from $5They may need a nice blazer or a new pair of slacks, but they probably don't want to spend their own money on them. You can also opt for gift cards from stores like J.Crew, Everlane, and Bonobos if that's more their style.A reliable, convenient suitcaseAwayGift the Away Carry-On, available at Away, $275If their future includes travel, an excellent suitcase is something they may not want to splurge on for themselves but will no doubt use for many years.For convenience, cost, and performance, check out Away. The buzzy luggage has an ejectable external battery that charges devices easily on the go, 360-degree wheels for no-hassle travel, and weighs only 7.6 pounds. Read our full review of Away suitcases here.A smart reusable notebookAmazonGift the Rocketbook Smart Reusable Notebook, available at Amazon, $28.97If they go through notebook after notebook, this reusable option offers a long-lasting solution. Your graduate can use the included pen to take notes, scan each page with an accompanying app to save the pages digitally, and then wipe away the notes to use the same page over and over again.An excellent, personalized coffee subscriptionTrade Coffee CompanyGift a Trade coffee subscription, available at Trade, from $40If they like a great cup of coffee, they'll enjoy Trade. The coffee subscription service has a huge variety of coffee, and it's easy to customize based on their tastes. We ranked it as the best coffee subscription service you can join.If they're more of a tea drinker, we'd also recommend checking out an Atlas Tea Club subscription.A framed photo of their friends or familyFramebridgeGift a framed photo, available at Framebridge, from $45Most of us appreciate some nostalgia; frame a photo of the graduate's friends or some of their favorite memories from law school.Lucky pencils for the bar examEtsyGift the Lucky Bar Exam Pencil Set, available at Etsy, $12Give them a little extra boost of luck for the impending bar exam. Personalized stationery with the Scales of JusticeEtsyGift a personalized Scales of Justice notepad, available at Etsy, from $20Put their achievements in writing on personalized stationery, decorated with the Scales of Justice, which represent impartiality in the profession.Groceries delivered to their doorInstacartGift an Instacart gift card, available at Instacart, from $25Starting a new chapter can be exhausting, and they may be pulling long hours in the office. If you're after convenience, give them a gift card for Instacart (our top pick for online grocery services) to have their groceries delivered to their door.Apple AirPods Pro for when they're on the moveCrystal Cox/InsiderGift a pair of Apple AirPods Pro, available at Amazon, Best Buy, and Target, from $174.99We love Apple's AirPods Pro for Apple users. They're no-hassle, work with Apple products, have decent sound and noise cancellation, are water-resistant, come with a wireless charging case, and feel more comfortable than standard AirPods.You'll find more wireless earbuds we love here.A nice business card holderLeatherologyGift the Leatherology Business Card Case, available at Leatherology, $45Wherever they land will likely have business cards, and this is a beautifully polished place to hold them. You can even get the holder monogrammed, and it'll arrive in a gift box.A gift card for the nights when they'd rather Uber homeReutersGift an Uber gift card, available at Amazon, from $25Unless they're driving themselves to work every single day, your law school grad will probably enjoy the foresight of an Uber gift card after a few long nights at the office.Read the original article on Business Insider.....»»

Category: personnelSource: nytMay 12th, 2022

The ‘Nuclear Arms Race’ of Office Exclusives

Open competition is inherent to a free market—or so they say. One of the hallmarks of the real estate industry is the transparency of the landscape. MLS data must be made available (to everyone who pays) and consumers ostensibly can view every available house, with sellers marketing to every buyer, and buyers able to peruse… The post The ‘Nuclear Arms Race’ of Office Exclusives appeared first on RISMedia. Open competition is inherent to a free market—or so they say. One of the hallmarks of the real estate industry is the transparency of the landscape. MLS data must be made available (to everyone who pays) and consumers ostensibly can view every available house, with sellers marketing to every buyer, and buyers able to peruse every available home. Consumers also freely choose their agents based on whoever they think will best serve their needs, and (hopefully) for no other reason. But why the caveats? What is keeping the industry from reaching a maximum level of open, fair competition—or will there always be exceptions, limitations and privileges in the market? One of these exceptions that agents and brokers have seemingly become comfortable with is the so-called “office exclusive” listing. In 2020, a policy called “Clear Cooperation” sought to curtail the long-standing practice of “pocket listings,” which the National Association of REALTORS® (NAR) has defined as “a listing in which an agent has a listing agreement and the seller does not authorize the placement of the listing on the MLS.” Those are now banned, at least by NAR members. But while Clear Cooperation requires all REALTORS® to list a property widely on the MLS within one business day of marketing it publicly, an exception was explicitly carved out for listings that are marketed, but not publicly—properties that are kept within the same brokerage or office. The purpose, according to NAR, was to allow consumers who need privacy for whatever reason to still sell a home without attracting unwanted attention. In today’s market especially, however, this ability to protect and shield listings from the broader public has come under increased scrutiny. It has also fallen in the shadow of a handful of lawsuits that have accused NAR and big brokerages of anticompetitive practices. But as it stands right now, is the office exclusive a great tool for a savvy agent and a specific consumer? Or is it a loophole that is allowing big companies to eat up market share at the expense of both agents and consumers? Denee Evans, the CEO of the Council of Multiple Listing Services (CMLS), a collection of more than 200 MLSs which advocates for an organizes around industry issues, tells RISMedia that at the highest level, keeping listings on the MLS provides a “transparent, accurate and pro-competitive marketplace” for the industry. “It’s not just consumers, it’s agents,” she says. “If we as an industry…are not sharing the most listings with the most amount of people, I think it’s negative.” Mutually assured destruction Simon Black is an agent with independent boutique brokerage Red Oak Realty in the San Francisco Bay Area. Even in a real estate market that has been inventory-constrained and unaffordable for decades, he takes the stance that office exclusives are not a runaway problem for the region. “I think it was probably a bigger deal many years ago when people didn’t see the power of staging a property,” he says. “We’ve trained our buyers and sellers specifically in this market, because they’ve seen how that really does get such great results. I think we’ve trained them to see there’s real value to bringing things on market, and so I think off-market has become less of an event here.” One notable stipulation made alongside the Clear Cooperation policy was requiring office exclusives to still be “filed” with a local MLS to ensure data accuracy, even though the data is not shared (a “certification signed by the seller” must also be included to affirm that it is the seller’s choice not to put their property on the MLS). Evans says that is one of the most important evolutions of the “pocket listing” landscape, because that way the data is at least verified and reliable. “ still gets entered into the MLS,” she says. “But a ‘pocket listing,’ to me, is one that never gets on the MLS and is in the ‘secret society club’—I call it the dark data of real estate. That’s where a lot of the issues can arise.” But that doesn’t mean that office exclusives are themselves not potentially a source of problematic behavior or changes in real estate, especially as their use hasn’t accelerated during the current inventory crunch. Mega-brokerage Compass was explicitly called out during a recent Harvard panel focused on housing issues for allegedly trying to carve out market share using office exclusives in the Bay Area. Speaking recently to RISMeda about the company’s tech platforms, Compass Regional President Rory Golod showed the way agents working there receive an “inventory advantage” by having access to listings that no one else does. “Because of our market share in so many of our markets, we have hundreds of listings that are private exclusives, that are off-market listings that only Compass agents have Black says Red Oak does not dabble in the practice of “pitching…potential sellers and buyers as having that magical place where these off-market listings exist,” though he adds there are some agents who certainly do that in the region. “It seems sort of discriminatory in a way, where you’re restricitng who can see property, which doesn’t feel right to me,” he says. Chris Kelly, president and CEO of Texas-based brokerage Ebby Halliday, says that “members of the public who are most impacted” by this type of scenario are underrepresented communities—often people of color. “They are disproportionately impacted by this,” he says. “I have to be connected to the right real estate agent at the particular right brokerage in order for them to be able to tell me what they have for sale that they’re not sharing…so if you look at affluent areas, you can see how that can get disproportionate pretty quickly.” While there is nothing intentional or inherent about this scenario, Kelly emphasizes that without extremely thoughtful, careful and transparent practices, the impacts can start to move into fair housing issues. While the marketing benefit for an agent with a large number of office exclusives is obvious, the brokerage in question also gets to double its share of commission by essentially guaranteeing these listings will be dual-agency deals, providing an obvious motivation to increase the number of office exclusives from the brokerage side. Brokerages also can use office exclusives as a recruiting tool both for agents and homebuyers, especially in times of tight inventory. Kelly says that this scenario could easily spiral into an “arms race,” where every brokerage or office in a given region is trying to grow their exclusive listings to compete with everyone else, rather than using office exclusives in the limited scenarios the policy was intended for. “The analogy I like to use is the buildup of nuclear arms,” he says. “As more brokerages are holding more properties back as office exclusives—ones that don’t fit a unique seller or a unique property circumstance—eventually other brokerages say, ‘Gosh, I’m giving you all my listings, you’re giving me half of yours or whatever percent—I’m going to do the same thing to you, I’m not going to share.’ And then everyone does that.” Office exclusives or other pseudo off-market listings don’t always include the same disclosures, at least in California, according to Black, which can make a transaction more complicated for everyone involved. “You can imagine because oftentimes there’s still sellers living in them, they won’t always have that robust inspection, maybe, the general inspection or the best inspection,” he said. “It can be a complete disclosure packet or it can be an incomplete disclosure packet, and you as the buyer and the buyers’ agent need to decide, do we need additional inspections?” It is hard to track exactly how prevalent office exclusives are since how they are categorized and collected depends on the brokerage, as well as the MLS. Some are disseminated in private Facebook groups, according to Kelly, or intranet platforms within a company. Kelly adds that in the past, off-market listings were made up of “typically” high-price point homes and mostly fit into the explicit reasoning for the policy—high-profile people looking for privacy. But that does not appear to be the case in the current low-inventory, highly competitive market that is especially brutal in major metros. “In a normalized market, having a certain percentage of office exclusives probably doesn’t make a huge difference in respect to the consumer,” Kelly says. “What we have seen in some markets is the office exclusive, I think, gets abused in some capacity where it is being used for properties that do not have a unique selling point or a unique circumstance for the seller to justify the office exclusive.” Foundations One way to look into the future of off-market, or semi off-market listings, is to look at a region that has already experienced a few decades of low inventory with high appreciation and demand. Black says that the Bay Area can serve as this kind of sample. “Most people in this area have been living where we haven’t had property to sell for such a long time,” he explains. “You realize there is value in you actually moving out of your property and getting it professionally painted and staged and getting those professional photographs taken, and so most people who transact in this area, they do transact on the market.” Those sellers that do utilize off-market listings nearly always do so for the sake of convenience rather than just for privacy, he says, because they do not want to go through the trouble of vacating the premises and allowing strangers to stage, photograph and fix-up their home. They are willing to sacrifice some degree of profit, knowing the house will still sell at a premium in the highly competitive market. Black adds that real estate agents are not often pushing the office exclusive because they know it will almost certainly cut into their commission. Sometimes they will, according to Kelly, because there will be less work overall for them to do, but that is not a widespread issue—making the most money for both yourself and your client is still going to be a strong motivation. “Where do I maximize the potential eyeballs of interested buyers for my product? It’s putting it in the place where most consumers go to get their listings,” he says. While Black and Kelly both emphasize there are and will always be appropriate reasons to keep a listing from a wider view, that doesn’t necessarily mean there is only one method for doing that. Evans claims that MLSs can—and do—individually provide nuanced ways to list properties while still allowing sellers the flexibility they want or need in terms of marketing. “It just depends on what that local marketplace is driving at,” she says. One of the most widespread alternatives—one that is also nuanced and diverse—is the “coming soon” designation, which NAR does not directly regulate. Depending on the local rules, this designation can restrict viewing of a property just to members of the MLS or to agents rather than the general public, as well as limit when offers or showings can happen, according to Evans. This potentially allows for a more localized, more curated way to carry out some of the functions office exclusives were intended for, and these rules can be modified by any individual MLS board based on local market conditions, she adds. For that reason, Evans says there is no real consensus on the future of office exclusives from MLS leaders, to her knowledge. “The approach in each marketplace can be different…my one thought is, the heart of our industry is cooperation, so anything that promotes and furthers cooperation, I would be in support of,” she says. From the legal side, some industry insiders have been hesitant to address the issue of office exclusives because of an ongoing antitrust lawsuit that is targeting the entirety of Clear Cooperation as a violation of antitrust laws. A district court specifically cited office exclusives as evidence that Clear Cooperation was not anti-competitive or illegal when dismissing the case—though a federal circuit court recently reversed that decision, putting Clear Cooperation back in the spotlight. Black says the current rules allow for significant flexibility, at least in California. Some can stay fully within a company, some can be marketed more broadly across an MLS or across the state, but not syndicated on Redfin or Zillow, which is very important for some people’s privacy. Both Kelly and Black also acknowledge there might be some temptation from the agent’s side to push clients to sign up for office exclusives because it means less work from them, and in the hot market right now, the home is likely going to sell anyway for a good price. Black says he recently had a home go under contract after 350 showings over 12 days. “It was a 63-stair walk-up to the front door, it’s not for everyone clearly,” he laughs. “It received multiple offers, and we will close with a really great offer.” But in the end, both argued that most agents are going to be motivated to put the work in and go the extra mile—both for their client’s and their own bottom line—and the agents who offer this more fundamental value proposition will ultimately be successful. “The idea of saying, ‘Well it’s really stressful to have all these people coming in ’— that’s the agent’s job,” Kelly says. “If my lawyer or doctor came to me and said, ‘Hey, I need you to make it easier on me when I’m operating on you, or working on this case’—I kind of feel like that’s what an agent could be doing sometimes …we get paid to manage stress, take it off of that seller.” The post The ‘Nuclear Arms Race’ of Office Exclusives appeared first on RISMedia......»»

Category: realestateSource: rismediaMay 12th, 2022

Leftists Hate Free Speech Because They Fear Dissent, Not "Disinformation"

Leftists Hate Free Speech Because They Fear Dissent, Not "Disinformation" Authored by Brandon Smith via Alt-Market.us, I think one of the most bizarre social developments of the past 10 years in the US has been the slow but steady shift of the political left as supposed defenders of free speech to enemies of free speech. The level of mental gymnastics on display by leftists to justify their attacks on freedom and the 1st Amendment is bewildering. So much so that I begin to question if liberals and leftists ever actually had any respect for 1st Amendment rights to begin with? Or, maybe the only freedom they cared about all along was the freedom to watch pornography… One can see the steady progression of this war on speech and ideas, and the end game is predictable: Is anyone really that surprised that the Biden Administration is implementing a Ministry of Truth in the form of the DHS Disinformation Governance Board? Can we just accept the reality at this point that leftists are evil and their efforts feed into an agenda of authoritarianism? Is there any evidence to the contrary? Before I get into this issue, I think it’s important to point out that it’s becoming tiresome to hear arguments these days suggesting that meeting leftists “somewhere in the middle” is the best and most desirable option. I see this attitude all over the place and I think it comes from a certain naivety about the situation we are facing as a country. Moderates and “normies” along with people like Bill Maher and Russell Brand are FINALLY starting to realize how bag-lady-crazy leftists are and the pendulum is swinging back slightly. But, it was conservatives that were calling out the social justice cult and their highway to hell for years. While everyone else was blissfully ignorant, we were fighting the battles that stalled the leftist advance. This is not to say I’m not happy to have moderates and reformed liberals on board, it’s a great thing. However, the time for diplomacy and meeting leftists halfway is long dead. There is no such thing as a “center” in our society anymore, either you lean conservative and you support freedom, or you lean left and support authoritarianism. There is no magical and Utopian in-between that we need to achieve to make things right. We are not required to tolerate leftist authoritarianism because of “democracy.” Sometimes certain ideologies and certain groups are mutually exclusive to freedom; meaning, they cannot coexist within a society that values liberty. We need to be clear about where the lines are drawn, because sitting on the fence is not an option. Walk in middle of road? Get squished like grape. To understand how leftists got to the point of enthusiastic hatred of free speech rights there are some psychological and philosophical factors that need to be addressed. These include specific ideals that leftists value that are disjointed or simply irrational: Hate Speech Is Real And Must Be Censored? First, as I have argued for many years, there is no such thing as “hate speech.” There is speech that some people don’t like and speech they are offended by. That is all. Constitutionally, there is no hate speech. People are allowed to say any offensive thing they wish and believe however they wish as long as they are not slandering a person’s reputation with lies or threatening them with direct bodily harm. If you are offended by criticism, that is your problem. Leftists believe the opposite. Instead of growing a thicker skin they think that “hate speech” should be illegal and that they should be the people that determine what hate speech is. This is a kind of magical door to power, because if you can declare yourself the arbiter of hate speech you give yourself the authority to control ALL speech. That is to say, as the thought police all you have to do is label everything you don’t like as hate speech, no matter how factual, and you now dictate the course of society. No one is capable of this kind of objectivity or benevolence. No person alive has the ability to determine what speech is acceptable without bias. Like the One Ring in the Lord of The Rings, there is no individual or group capable of wielding such power without being corrupted by it. Either there is no hate speech, or everything becomes hate speech. Free Speech Is Negated By Property Rights? This is in direct reference to social media websites and it’s an oversimplification of the issue of free speech and large social media platforms. Here is the conundrum or “false paradigm” if you will: Leftists argue for private property rights, but only when it comes to vast corporate big tech platforms like Twitter, Facebook, YouTube, etc. They like private property rights for companies that they think are on their side politically; they hate private property rights for everyone else. Just look at their response to Elon Musk’s recent Twitter buyout; the leftists are demanding that Musk be stopped at all costs, and they demand that the SEC and FCC step in to disrupt the sale because they claim Musk’s purchase is a “threat to democracy.” The media itself is clamoring to disrupt Musk’s takeover of Twitter. Whether or not you trust him, Musk’s acquisition of the platform has at least exposed the totalitarian attitudes of mainstream journalists for everyone to see. They are now even admitting on air that THEY control public discussion; that it is “their job,” and they see Musk as a threat to that monopoly. Why are Elon Musk’s private property rights less important or protected than the original shareholders of Twitter (Vangaurd, BlackRock, Morgan Stanley and a Saudi Prince)? Because Musk does not claim to represent leftist designs and interests? Leftists have no principles, they only care about manufacturing consent. Their method of winning requires that they never restrict themselves within the boundaries of values or morals. Again, this is the epitome of pure evil. Beyond that irony, though, is the deeper issue of government intervention vs business rights. Many people seem to think that government power is supposed to balance out corporate power when the truth is that governments and corporations work hand in hand; they are often one in the same entity. Twitter and other Big Tech platforms receive billions upon billions of dollars in government stimulus and tax incentives every year. Corporations as a concept are essentially a socialist creation. They enjoy limited liability and corporate personhood along with other special protections under government charter. With all these protections, incentives, bailouts and stimulus measures it is almost impossible for small and new businesses to compete with them. They represent a monopoly through cartel; they control the marketplace by colluding with each other and colluding with the government. A perfect example of this would be the coordination between multiple Big Tech companies to bring down Parler, a conservative leaning competitor to Twitter. This required some of the biggest companies in the world working in unison along with the blessing of government officials to disrupt the ability of a new company to offer an alternative, and all because Parler was getting too big. In the case of a private person’s home or their small business or small website, it’s true that there are no free speech rights. They can kick you out and they don’t have to give a reason. But when it comes to massive conglomerates that receive billions in OUR tax dollars in order to stay alive, no, they do not deserve private property rights. They have now made themselves into a public utility, and that means they are subject to constitutional limitations just as public schools and universities are. This is a concept that leftists just don’t grasp. They view corporate power as sacrosanct…as long as it serves their interests. Consider global corporations like Disney and their open intention to undermine the passage of Florida’s anti-grooming bill; this represents Disney’s vocal support for the sexualization and indoctrination of children in Florida schools. Leftists cheered the announcement and claimed that without Disney, Florida’s economy would be wrecked. Instead, the state turned the tables and took away incentives they had been giving to Disney for decades. Leftists responded by accusing Governor DeSantis of being a “fascist” and attacking free speech. But let’s break this down: Leftists happily supported Disney, a massive conglomerate, and their efforts to undermine the will of the voters in Florida. The state government stops them from undermining the voters by taking away the money and special incentives that belong to the voters. In turn, leftists claim this is a violation of Disney’s rights? The disparity between leftist arguments on Elon Musk’s takeover of Twitter vs. Disney’s attempted sabotage of Florida law could not be more confused. When it comes to Twitter they love the idea of censorship and react with panic when the mere prospect of free speech (within the confines of US law) is presented. When it comes to Disney, they say they love the idea of free speech, and anyone that wants to limit the corporation’s influence within Florida, no matter how criminal, is accused of fascism. The difference is obvious – Musk appears to be an uncontrolled element, while Disney is an “ally.” Free speech and property rights are only allowed for one side of the cultural divide. Leftists attacking freedom is free speech; defending ourselves against those attacks is a threat to democracy. It’s absurd. Disinformation Is A Threat And Censorship Is The Solution? The holy grail of censorship is not website filters and algorithms, because as we have seen with Twitter, those platforms could be built or purchased by someone that does not share in the leftist agenda. Instead, government intervention and the ability to define what is proper and improper discourse is the ultimate goal. The end game of authoritarians is always to write mass censorship into law, as if it is justified once it is codified. Corporate elites and political puppets like Biden pontificating about the threat of “disinformation” is hilarious for a number of reasons, but mainly because it is the power brokers and the media that have been the main purveyors of disinformation for a long time. Suddenly today they care about the spread of lies? I think it is obvious that such people are far more worried about the spread of facts, evidence and truth. They cannot debate on fair ground because they will lose, so, the only other option is to silence us. The institution of the Disinformation Governance Board is a clear indication that the establishment and the useful idiots on the political left are becoming DESPERATE. Their grip on the public mind is slipping, and we saw this during their recent attempts to enforce medical tyranny across the country in the name of covid. Luckily, conservatives in at least 20 red states fought against the implementation of covid lockdowns, mandates and vaccine passports which would have annihilated our constitutional rights forever. For years I heard the argument that when the jackboots arrived conservatives would do nothing, and now we know this is nonsense. Some of the few free places in the world during two years of pandemic fear mongering were red states in America, which coincidentally also have the highest concentration of conservatives. If you want to know what our country would look like had conservatives not stopped the tide of tyranny, just take a gander at China today. They have some of the strictest covid mandates on the planet and yet they are once again locking down millions of citizens due to “high infection rates.” Not only that, but they are starving their own people in the process. It’s madness, and it’s exactly what leftists were arguing in favor of just a few months ago. The US is mostly open today, just as red states like mine have been free for almost the entirety of the pandemic, and what has changed? Half the country is still unvaccinated – Is there mass death in the streets? Nope. Nothing has changed in terms of covid. The mandates made no difference whatsoever, other than to disrupt the economy and reduce people’s freedoms. Not long ago, pointing out this fact was considered “disinformation” that needed to be silenced in order to “save lives.” The Hunter Biden laptop story was called disinformation. The Wuhan Lab story was called disinformation. Fauci’s gain of function research on covid at the Wuhan lab was called disinformation. The fact that vaccinated people still contract and die from covid was called disinformation. In other words, what the government and corporate oligarchs call “disinformation” today is eventually called reality tomorrow. I would be happy to enter into a fair debate with White House Press Secretary Jen Psaki on any of the above issues and her views of what constitutes “disinformation,” but she would never do such a thing because she knows she would be crushed like a bug. It is not the government’s job to protect the public from information, whether real or fake. It is not their job to filter or censor data or ideas. They are not qualified to do this. No one is. Leftists operate from a collectivist mentality and this makes them believe that society is a singular entity that needs to be managed and manipulated to achieve a desired outcome. They have no concept of individual responsibility and discernment, but that is a side note to the real problem. They support information control because facts and ideas outside of their narrative could possibly damage that narrative. And, if the narrative is damaged they lose their feeling of power, which is all they really care about. If your narrative is so fragile that it does not hold up to scrutiny or alternative viewpoints then it must not be worth much of a damn. If you have to force people or manipulate people into believing the way you do, then your ideology must be fundamentally flawed. The truth speaks volumes for itself and eventually wins without force. Only lies need to be forced into the collective consciousness. Only lies require tyranny. Eventually reality wins over propaganda, unless total censorship and totalitarianism can be achieved. Nothing has changed in the 200+ years since the creation of the Bill of Rights. Free speech is still integral to a functioning society. Without it, society crumbles. They will claim that today things are different and that society needs to be “protected from itself.” This is what tyrants always say when trying to steal power. Most people reading this know by now that this is a war. It’s not a political debate that requires give-and-take, but a full-bore winner-take-all conflict. A DHS faction which is mandated to monitor our speech and propagandize the public is unacceptable and must be eliminated. Leftist and globalist monopoly of social media communications platforms is unacceptable and must be eliminated. The imposition of leftist and globalist ideology into the media narrative while censoring any contrary information is unacceptable and must be eliminated. This is about saving the remaining embers of American culture. If we do not take an aggressive stand now, the next generation may never know liberty. Everything we hold dear is at stake. *  *  * If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch.  Learn more about it HERE. Tyler Durden Wed, 05/11/2022 - 00:05.....»»

Category: dealsSource: nytMay 11th, 2022

The Psychology Of Manipulation: 6 Lessons From The Master Of Propaganda

The Psychology Of Manipulation: 6 Lessons From The Master Of Propaganda Authored by Ryan Matters via Off-Guardian.org, Edward L. Bernays was an American business consultant who is widely recognized as the father of public relations. Bernays was one of the men responsible for “selling” World War 1 to the American public by branding it as a war that was necessary to “make the world safe for democracy”. During the 1920s, Bernays consulted for a number of major corporations, helping to boost their business through expertly crafted marketing campaigns aimed at influencing public opinion. In 1928, Edward Bernays published his famous book, Propaganda, in which he outlined the theories behind his successful “public relations” endeavours. The book provides insights into the phenomenon of crowd psychology and outlines effective methods for manipulating people’s habits and opinions. For a book that’s almost 100 years old, Propaganda could not be more relevant today. In fact, its relevance is a testament to the unchanging nature of human psychology. One of the key takeaways of the book is that mind control is an important aspect of any democratic society. Indeed, Bernays maintains that without the “conscious and intelligent manipulation of the organized habits and opinions of the masses”, democracy simply would not “work”. We are governed, our minds molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. According to Bernays, those doing the “governing” constitute an invisible ruling class that “understand the mental processes and social patterns of the masses”. In Propaganda, Bernays draws on the work of Gustave Le Bon, Wilfred Trotter, Walter Lippmann, and Sigmund Freud (his uncle!), outlining the power of mass psychology and how it may be used to manipulate the “group mind”. If we understand the mechanism and motives of the group mind, is it not possible to control and regiment the masses according to our will without their knowing about it? I recently explored this topic in an essay about how occult rituals and predictive programming are used to manipulate the collective consciousness, influencing the thoughts, beliefs and actions of large groups of people, resulting in the creation of what occultists call “egregores”. Here I have extracted some key insights from Bernays in an attempt to show how his book Propaganda is, in many ways, the playbook used by the globalist cryptocracy to process the group mind of the masses. 1. IF YOU MANIPULATE THE LEADER OF A GROUP, THE PEOPLE WILL FOLLOW Bernays tells us that one of the easiest ways to influence the thoughts and actions of large numbers of people is to first influence their leader. If you can influence the leaders, either with or without their conscious cooperation, you automatically influence the group which they sway. In fact, one of the most firmly established principles of mass psychology is that the “group mind” does not “think”, rather, it acts according to impulses, habits and emotions. And when deciding on a certain course of action, its first impulse is to follow the example of a trusted leader. Humans are, by nature a group species. Even when we are alone, we have a deep sense of group belonging. Whether they consciously know it or not, much of what people do is an effort to conform to the ideals of their chosen group so as to feel a sense of acceptance and belonging. This exact method of influencing the leader and watching the people follow has been used extensively throughout the last few years. One notable instance that comes to mind is the horrendously inaccurate epidemiological models created by Neil Ferguson, which formed the basis for Prime Minister Boris Johnson’s lockdown policies. Once Johnson was convinced of the need to lockdown and mask up, the people gladly followed. 2. WORDS ARE POWERFUL: THE KEY TO INFLUENCING A GROUP IS THE CLEVER USE OF LANGUAGE Certain words and phrases are associated with certain emotions, symbols and reactions. Bernays tell us that through the clever and careful use of language, one can manipulate the emotions of a group and thereby influence their perceptions and actions. By playing upon an old cliché, or manipulating a new one, the propagandist can sometimes swing a whole mass of group emotions. The clever use of language has been employed throughout the Covid-19 pandemic to great effect. An obvious example of this was when the definition of “vaccine” was changed to include injections utilising experimental mRNA technology. You see, the word “vaccine” is associated in the public mind with a certain picture – that of a safe, proven medical intervention that is not only life-saving but absolutely necessary. If governments had told people to go get their “gene therapies”, the vast majority of the public would likely question the motives behind such a campaign; they would feel extremely sceptical because the phrase “gene therapy” is not associated with the same images, emotions and feelings as “vaccine”. The same goes for the word “pandemic”, the definition of which was also changed. The word “pandemic” is generally associated in the collective consciousness with fear, death, chaos and emergency (largely thanks to Hollywood and the myriad virus films it has released over the years). 3. ANY MEDIUM OF COMMUNICATION IS ALSO A MEDIUM FOR PROPAGANDA Any system of communication, whether phone, radio, print, or social media, is nothing more than a means of transmitting information. Bernays reminds us that any such means of communication is also a channel for propaganda. There is no means of human communication which may not also be a means of deliberate propaganda. Bernays goes on to stress that a good propagandist must always keep abreast of new forms of communication, so that they may co-opt them as means of deliberate propaganda. Indeed, systems that most people would associate with freedom of speech and democracy are none other than means of circulating propaganda. Facebook fact-checkers, Big Tech censorship and YouTube’s Covid banners certainly fall into this category. Other examples of this include the recent algorithm updates made by various search engines (including Google and DuckDuckGo) to penalize Russian websites. Although this should come as no surprise (Google has been engaging in this type of “shadow propaganda” for many years). 4. REITERATING THE SAME IDEA OVER AND OVER CREATES HABITS AND CONVICTIONS Although Bernays terms this a technique used by the “old propagandists”, he, nonetheless, recognizes its usefulness. It was one of the doctrines of the reaction psychology that a certain stimulus often repeated would create a habit, or that the mere reiteration of an idea would create a conviction. Repeating the same idea or the same “mantra” again and again is a form of neuro-linguistic programming aimed at instilling certain concepts or emotions into the subconscious mind. Indeed, people who are feeling sad or depressed are often advised to repeat to themselves an uplifting saying or affirmation. There are many examples of this simple, yet effective, technique being used to great effect over the last few years. Think Q’s “trust the plan”, the globalist favourite, “build back better” or the incessant repetition of that twisted phrase, “trust the science”. Included in this category are the 24/7-in-your-face death statistics and case numbers, aimed at promoting the illusion of a pandemic. There are more obvious examples of this as well, such as news anchors in different areas all reading from the exact same script. 5. THINGS ARE NOT DESIRED FOR THEIR INTRINSIC WORTH, BUT RATHER FOR THE SYMBOLS THAT THEY REPRESENT After studying why people make certain purchasing decisions, Bernays observed that people often don’t desire something for its usefulness or value, but rather because it represents something else which they unconsciously crave. A thing may be desired not for its intrinsic worth or usefulness, but because he has unconsciously come to see in it a symbol of something else, the desire for which he is ashamed to admit to himself. Bernays gives the example of a man buying a car. From the outside, it may appear as if the man is buying the car because he needs a means of transport, but in actuality, he is buying it because he craves the elevated social status that comes with owning a motor vehicle. This idea, too, applies to the events over the last few years. For example, masks are a symbol of compliance. Everyone knows they don’t work but they wear them because of their desire to “fit in”, and to be seen as an upstanding citizen who follows the rules. Covid-19 injections are also a symbol and many people choose to get them because they have a desire to avoid being called an “anti-vaxxer” or a “conspiracy theorist”. 6. ONE CAN MANIPULATE INDIVIDUAL ACTIONS BY CREATING CIRCUMSTANCES THAT MODIFY GROUP CUSTOMS Lastly, Bernays tells us that if one wishes to manipulate the actions of an individual, the most effective way to do so is to create circumstances that engender the desired behaviour. What are the true reasons why the purchaser is planning to spend his money on a new car instead of on a new piano? […] He buys a car, because it is at the moment the group custom to buy cars. The modern propagandist therefore sets to work to create circumstances which will modify that custom. For example, why all of a sudden does everyone “stand with Ukraine”? According to Bernays, it’s not because there is a war going on and innocent people need our love and support, but rather because it is the new “group custom” to do so. The process of altering group customs begins from the top down. In every nation or social clique, there are leaders, public figures and influencers. Manipulating those with the most sway eventually filters down into the public mind. That is why when a celebrity decides to wear something extravagant on the red carpet, a whole new trend can arise overnight. Similarly, at the beginning of the Covid saga and then the Russia-Ukraine war, the media were quick to circulate stories of celebs “catching Covid” and urging people to stay home, or public figures condemning Russian actions and calling for stricter sanctions (which just so happened to hurt the West more than they hurt Russia). THE PROPAGANDA PLAYBOOK The world is a volatile place right now. Things seem to change quickly and no one knows what might happen next. However, amid all this chaos there is one thing that has not changed and is unlikely to change any time soon, and that is human psychology. Because of this, the tactics used to manipulate people’s thoughts, beliefs and actions have not changed either. In fact, most of them were outlined in detail 100 years ago by Edward Bernays in his 1928 book, Propaganda. That’s right, the Puppet Master’s playbook isn’t a secret. It’s right there, freely available to anyone who cares to understand how the powers that be seek to influence them on a daily basis. *  *  * Propaganda by Edward Bernays has now been added to our Forbidden Library. Read it now, along with other forbidden books. Tyler Durden Sun, 05/08/2022 - 23:20.....»»

Category: blogSource: zerohedgeMay 9th, 2022

I"m the CEO of Hootsuite. I start my day writing emails because it"s when my brain is the clearest — here"s what my morning routine is like.

Tom Keiser says he starts work around 7 a.m. after catching up on industry newsletters and has used the same favorite notebook for decades. Tom Keiser, CEO of Hootsuite, has made employee wellness a business priority.Hootsuite Tom Keiser is the CEO of Hootsuite and lives in San Francisco. He starts his day reading industry newsletters before responding to urgent messages and emails. Here's how he organizes his morning routine, as told to writer Robin Madell.  This as-told-to essay is based on a conversation with Tom Keiser, CEO of Hootsuite, about his workday morning routine. It has been edited for length and clarity.Each day, I wake up early and read a bunch of news and newsletters. The sites I regularly check include Platformer by Casey Newton, Stratechery by Ben Thompson, Letters from an American by Heather Cox Richardson, Money Stuff by Matt Levine, DealBook by Andrew Ross Sorkin, Cup of Coffee by Craig Calcaterra, and The Information.I usually start focusing on work at about 7:15 a.m. I'm a big list person and I prefer tracking my to-dos on paperI've used Engineering Notebooks from the Laboratory Notebook Company since the '90s to take notes and put my daily and weekly to-do lists together. I've tried to embrace technology for lists over the years, but having a physical notebook just works better for me.I mostly work from my home office in San FranciscoWhen I joined Hootsuite in June 2020 during the pandemic, the entire interview and onboarding process was done on video, so I'd never met my leadership team or colleagues in person. When restrictions were lifted, I was finally able to travel to our corporate head office in Vancouver, Canada. I was excited to meet everyone and work together in person, so I traveled to our Vancouver office every week throughout the fall months. But in December when Omicron hit, I had to stop traveling again and now work primarily from my home office in California. As CEO, I spend a lot of time listening and communicating with my teamThis means clarifying priorities, removing roadblocks, recruiting talent, motivating people, making decisions and communicating constantly, a bit of strategy, M&A, and fundraising work.Writing is the first work task I do each morningMy brain is clearest in the morning to be able to think through and grind out whatever messages or emails I'm trying to send. Later in the day I'm in decision, speed, and deal-with-it mode, which makes it hard to slow down and communicate as effectively.I always address the most urgent communications firstFor example, if I'm working on a planning project where our team is expecting my feedback on their presentation, I've usually jotted down notes and thoughts the day prior so I have a basic outline of ideas to work with. This helps me better respond to their specific questions and package my response into an email when my mind is clear.I believe in a weekly cadence of running the business. I have leadership meetings on Tuesday, weekly touch-bases with all of my direct reports, monthly touch-bases with board members, and then ad-hoc meetings as needed. I don't like surprises, so I try to stay immersed in every aspect of the business as much as possible.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 5th, 2022