2.43 - One Life
News and Numbers
Markets this Week:
S&P 500 is up 1%.
NASDAQ 100 isup 2%.
Bitcoin-USD is down 5%.
Ethereum-USD is down 4%.
Headlines from this Week:
Ford has filed a patent application for technology that would allow autonomous vehicles to disable a functionality of a component of the car or may place the vehicle in a lockout condition when the owner fails to acknowledge notices of missed payments.
Spotify pilots new feature for token-gated playlist.
Unity introduces new ‘Asset Store’ category for decentralized technologies in gaming, to help game developers manage digital assets, set up smart contracts, build on blockchain networks, and more.
One of the original founders of OpenAI, Elon Musk is reportedly eyeing a team to develop his own rival to ChatGPT in an effort to pushback on what he feels is “woke AI.”
Finance
By Vlad
When everyone is pessimistic, think again.
Investing in the stock market can be a daunting task for even the most experienced investors. Market volatility, economic uncertainty, and global events can cause wild swings in stock prices, leaving investors feeling anxious and unsure of how to proceed. However, as counterintuitive as it may seem, when most people are pessimistic about equity markets, that's usually a good time to buy.
The stock market has a long history of volatility and cycles of growth and decline. Investors who understand these cycles know that downturns are inevitable but are also opportunities to buy quality stocks at a discount. It's important to remember that market downturns are usually caused by fear and uncertainty, rather than a fundamental weakness in the underlying companies.
When investors are pessimistic about the equity markets, they often sell their stocks in a panic, causing the market to drop even further. However, these sell-offs can create buying opportunities for savvy investors who are willing to take a long-term view of their investments. By buying quality stocks at a discounted price, investors can position themselves for future growth as the market recovers.
One of the most famous examples of this strategy in action is Warren Buffett's investment in American Express during the 1960s. At the time, American Express was facing a scandal and many investors were pessimistic about the company's future. However, Buffett recognized the underlying strength of the company and saw an opportunity to buy its stock at a discounted price. He invested heavily in the company and made a fortune when the stock price eventually recovered.
Of course, this strategy requires a certain level of patience and a willingness to hold onto stocks during periods of volatility. It's important to remember that the stock market is not a get-rich-quick scheme, but a long-term investment vehicle that requires discipline and patience. However, for investors who are willing to take a long-term view of their investments, buying quality stocks during times of pessimism can be a smart strategy.
It's also important to remember that this strategy doesn't guarantee success. Timing the market is a notoriously difficult task, and even the most experienced investors can get it wrong. However, by focusing on the underlying strength of the companies they invest in and taking a long-term view of their investments, investors can position themselves for success even during periods of volatility.
In conclusion, when most people are pessimistic about equity markets, that's usually a good time to buy. Fear of what is next and expectation of downside are actually good predictors of upside. By focusing on the underlying strength of the companies they invest in and taking a long-term view of their investments, investors can position themselves for success even during periods of volatility. While timing the market is never easy, patient investors who are willing to hold onto quality stocks during periods of pessimism can reap the rewards when the market eventually recovers.
This is not financial advice and you should always do your own research before investing in any securities or cryptocurrencies. The trading strategies mentioned above are only my opinion. I am not a public equities analyst, and you're following these tips at your own risk.
Sci-Tech
By Keyann Al-Kheder, Software Engineer
Ethereum Launches ERC-4337 'smart accounts'
Ethereum Foundation security researcher Yoav Weiss announced the launch of the new ERC-4337 standard for ‘Smart Accounts’ at WalletCon in Denver this week.
The new proposal for smart accounts will provide the functional support needed for ‘account abstraction’, which aims to facilitate web3 adoption by removing the need for users manually store a seed phrase or private key when setting up a traditional wallet.
Account abstraction allows for the unique cryptographic keys to be stored locally on the user’s ‘hardware security modules’, effectively turning them into hardware wallets. With this approach, new users will no longer need to learn about complicated seed phrases or the technical process of setting up a wallet to onboard into the decentralized world of crypto.
In addition to making it easier for new users to get started, account abstraction enables two-factor authentication, monthly spending limits, and the use of session keys. These features give users the same level of security as traditional hardware wallets, while also providing added convenience.
Smart accounts enabled by this standard will be available on every Ethereum Virtual Machine (EVM) compatible network, including Polygon, Optimism, and BNB Smart Chain. Unlike other similar solutions, this standard decentralizes the entire system without requiring any centralized components like relays to pay gas fees.
The process works by using decentralized infrastructure called "bundlers" that sign a "user operation" and take it from the mempool, paying for the gas required and delivering the desired result back to the wallet.
After passing an audit by OpenZeppelin, ERC-4337 was added to Ethereum through a smart contract, which was deployed on Feb. 28, several hours before the feature was officially announced. This technology has already been incorporated natively into zk-Rollup layer 2 solutions from StarkWare and zkSync, and Visa designed an automated crypto bill payment system that makes use of it.
Although it’ll take some months before this protocol is widely implemented, many in the web3 world are excited about the new potential this new protocol aims to provide.
Paradigm Shift
Collective Bargaining
By Roman Kuittinen-Dhaoui, BBA (Hons.), CPHR Candidate
Collective bargaining is a process in which a group of workers, typically represented by a Union, negotiates with their Employer to reach a Collective Agreement on the terms and conditions of employment. Through collective bargaining, workers can leverage their collective strength to negotiate with their employer for better pay, benefits, and working conditions than they might be able to achieve as individuals.
Once a Collective Agreement is reached through collective bargaining, it is legally binding on both the employer and the employees. This means that both parties must abide by the terms and conditions outlined in the agreement. If disputes arise regarding the interpretation or enforcement of the Collective Agreement, there are established procedures for resolving them, such as mediation or arbitration.
Disclaimer
I was fortunate enough to be called upon to join the bargaining committee at my job on the Employer side to help with negotiations on certain aspects with the Union.
I cannot talk about any of the items that were discussed until a Collective Agreement is officially and publicly ratified. Disclosing that information can undermine the balance of things.
Opinion
My experience in bargaining has paralleled lessons in “The Art of War” by Sun Tzu such as the importance of:
Preparation, planning, and understanding the enemy. A skilled general must know their own strengths and weaknesses as well as those of their opponents. This means carefully studying the context in which battles take place.
Flexibility and adaptability. A skilled general must be able to adapt to changing circumstances and make quick decisions on the battlefield. A good strategy is one that is flexible enough to take advantage of changing circumstances and exploit the weaknesses of the enemy.
Knowing when to fight and when to avoid battle altogether. It is better to win without fighting if possible, and that a skilled general must use strategy and diplomacy to achieve their goals whenever possible.
Morale and discipline among troops. A skilled general must be able to inspire their troops and maintain their morale through effective leadership, communication, and rewards.
A deep understanding of human psychology.
For example, in bargaining there are key items that the Employer and Union prioritize differently. It’s a process of give and take. For example, some rights may be given to the Employer in exchange for higher wages to the unionized employees.
(Head)Space
By Roman
Too Many “Lives”
The relationship between personal life and work life is often intricate, and changes in one aspect of life can have significant effects on the other. For instance, personal life events such as marriage, having a child, or dealing with an illness can impact an individual's work life. For instance, a new parent may struggle with the demands of caring for a child while also meeting work deadlines. Similarly, an individual going through a divorce or separation may find it challenging to focus on their job responsibilities. These personal issues can affect an individual's productivity and engagement in the workplace.
On the other hand, work life can also affect an individual's personal life. Long work hours or job-related stress can cause physical and emotional exhaustion, leading to conflicts with family and friends. A lack of work-life balance can cause individuals to miss out on important family events, leading to feelings of guilt and resentment. Furthermore, a toxic work environment can cause individuals to bring that negative energy into their personal lives, affecting their mood, relationships, and overall well-being.
I believe it’s important to be authentic; your true self at work. Many companies are working towards Diversity, Equity, Inclusion, and Belonging (DEIB) strategies for engagement in the workplace. This idea of a personal life, a work life, a family life, a sex life, etc. How many masks are people wearing? How many lives are people leading? It’s important to adapt to different situations. For example, at home you may be passive and let your wife be the boss of the household, at soccer you may be a collaborative, team player, and at work, you may be a commanding leader. It’s important to change your style to effectively suit the situation.
To be clear, you shouldn’t share just anything with your work colleagues, especially something that could get you fired, or, affect your reputation and future advancement opportunities.
I understand and respect one’s right to privacy. However, if you can’t share things about your life outside of work with some of your work colleagues, then you’re working in a rather impersonal environment. Those things outside of work will affect your work, and vice-versa. Thus, I believe it’s important to share somethings with your colleagues so that they have a more holistic view of you.
TLDR: Unlike cats, humans don’t have 9 lives, we have 1 life which is affected by several factors that are interconnected and cannot be siloed.
Company of the Week
Infura is a service that deliver infrastructure and tools for developers to build Web 3.0 applications.
Infura's development suite provides instant, scalable API access to the Ethereum and IPFS networks, as well as any EVM compatible network, so that developers don’t need to run a node on a blockchain network in order to interface with it.
The company was acquired by ConsenSys in 2019, the makers of Metamask wallet.
the Employer in exchange for higher wages to the unionized employees.
Written by: Vlad Estoup, Keyann Al-Kheder, and Roman Kuittinen-Dhaoui