If you are taking comfort in the fact that the stock market rallied this week and broke a record, well you are an optimist for sure and due for a rude awakening sooner or later!
Here are some facts that cannot be denied:
Some 16 million Americans — about a tenth of the entire U.S. labor force — have filed for first time unemployment benefits over the past three weeks. That’s 16 million workers, along with their employers, who aren’t paying into the system. And yet about 64 million Americans are entitled to an average monthly benefit this year of…
The unintended victim of COVID-19: Our Social Security System.
When I say we are on the verge of a Depression not Recession a lot of people laugh, please keep on laughing. I am not a pessimist but a pragmatic realist! From the facts that are unraveling right now the future does not look very bright.
Some 16 million Americans — about a tenth of the entire U.S. labor force — have filed for first time unemployment benefits over the past three weeks. That’s 16 million workers, along with their employers, who aren’t paying into the system. And yet about 64…
Hard worker? Fast learner? Team player?
Join the club: even more Americans newly filed for unemployment last week according to data out on Thursday April 9, while the Federal Reserve announced even more economic support.
Economists were, in hindsight, way too optimistic: (Many lack the realism needed to attack this problem and rely on analysis…)
They predicted 5.25 million new people would file for unemployment benefits last week compared to the 6.6 million who actually did.
The number of unemployed has risen rapidly ever since the coronavirus pandemic struck American shores:
It jumped from almost 300,000 — a two-and-a-half-year high…
Please Don’t Cast Any Heroes for Theranos.
Somehow, somewhere, someone is still trying to make Holmes a hero.
Thank you Howard Tullman for a great article about this despicable person who literally and single handedly made it harder than ever for honest inventors and startup entrepreneurs to overcome the enormous obstacles that make innovation in medicine so very difficult, time consuming, and costly.
Hopefully people and prospective entrepreneurs will remember her and her company as flagrant fraud and not be influenced by the flash and jazz of the upcoming flick and fall for the “Fake Until You Make It” bullshit perpetrated by incubators and accelerators worldwide.
#startups #theranos #accelerators #incubators #fraud #entrepreneurs #holmes #innovation
Finally a scholar admitting we got it all wrong!
Paul Krugman Admits He and Mainstream Economists Got Globalization Wrong.
Take away from this article:
The first factor: a paradigm shift of the international trading profile from “intra-industry trade among similar countries” to importing goods from countries with a massive labor-cost advantage.
The second factor was the acceleration of the process via technology, especially containerization. That coupled with an eager embrace of free trade by policymakers egged on by overconfident intellectuals who hadn’t thoroughly done their impact assessment homework.
Factor three, lack of policies in place to help people cope with…
Many unicorns have gone public in the past couple of years. Investors thought growth is necessary for profits. Money was pumped-in by the tens of millions just to support growth without intelligent profit KPIs. Well, after few years and almost all of the unicorns losing money panic has knocked on the door for all those investors.
Something magical happened (You know my favorite Foo Foo Dust process) the (in)famous co-working giant WeWork filed for its IPO, and you know the rest (drama, deceit, ego, where is the value? etc…), something that was valued at $48B suddenly dropped to $8B.
I always remind my colleagues and the startup founders and entrepreneurs I mentor and coach: Don’t complicate things, keep it and make it simple.
Sadly as technology evolved complexity has crept into every corner of our lives. In fact the theme that technologists and innovators use is “Technology makes it better and simpler”. Well that is not the case. Simplicity and technology does not go hand to hand. Just look at the way we communicate. There are myriad of apps that people use in business, entertainment, daily life and socially. Yes, there are few that are the norms such as…
Sometimes startups can con people and investors with some foo-foo dust.
This mystical dust when properly sprinkled and applied over vague things (ideas and promises of a lot of cash) makes it happen magically.
For the ones who don’t know what foo-foo dust is: Foo foo dust is a reference to a (non-existent) power or mysterious mystical ingredient or hidden effort that creates desirable results. Results achieved, as if by magic, perhaps by slight-of-hand. (Urban Dictionary and others)
Now a great example of the application of foo-foo dust in the startup ecosystem is (there are a lot but this one…
And you think you were “open minded”?
Chances are, you’re not as open-minded as you think according to David Epstein who is the author of “Range: Why Generalists Triumph in a Specialized World,”. (By the way, a great book to read, not that I am an open minded adaptive generalist.)
From his article:
“Science curiosity” is different from “science knowledge”. Science-curious people always chose to look at new evidence, whether it aligned with their beliefs or not. Less science-curious adults became more resistant to contrary evidence and more politically polarized as they gained subject matter knowledge. …
Study of 2.7 Million Startups Found the Ideal Age to Start a Business (and It’s Much Older Than You Think)
If you’re in your 40s or 50s, you might think it’s too late to start a business. Wrong: It’s actually the perfect time.