Financial Decisions, Generative 3D, Interviewing | 2.48
Financial Decisions, Generative 3D, Interviewing | 2.48
"Darkness cannot drive out darkness, only light can do that. Hate cannot drive out hate, only love can do that." Martin Luther King Jr.
News and Numbers
Markets this Week:
S&P 500 is up 1%
NASDAQ 100 is up 1%
Bitcoin-USD is down 2%
Ethereum-USD is up 4%
Headlines from this Week:
Apple is expected to debut their VR headset in June (Bloomberg).
Fed’s new instant payment service FedBow is set to launch in July.
Tech leaders and AI researchers, including Elon Musk, call for 6 months pause on training AI systems more powerful than GPT-4 in order to implement more robust security measures and protocols (OpenLetter).
In Canada, as of April 1st, carbon tax increased from 11.05 cents per litre of gas to 14.31 cents per litre, alcohol tax increased 2% after outcry pressured the government to cap the increase from 6.3% per inflation, and federal minimum wage increased $1.10, from $15.55 to $16.65 (CTV).
Protests in France continue due to President Macron’s government’s use of constitutional executive powers to push through an unpopular rise of the pension age from 62 to 64.
Finance
By Vlad Estoup, B.Comm. (Finance), working in Ethereum cybersecurity
Time is now.
The financial decisions you make early in life can set you up for success or failure for the rest of your life. Contrary to popular belief, it is most important to earn a lot while you are still young, rather than waiting until later in life.
One of the key reasons why earning a lot while young is so important is that it gives you a head start in building your financial foundation. The more money you earn when you're young, the more you can save and invest, which can compound over time to create a significant nest egg for the future. This is why partying and wasting time while you are young is exponentially more costly in terms of wealth building.
For example, let's say you start earning a salary of $200,000 per year at the age of 25 (and although most don’t get there, this is very doable in tech), and you invest 50% of your salary into a diversified portfolio of stocks and bonds. Assuming an average annual return of 7%, your investment will grow to more than $10 million by the time you reach age 55. On the other hand, if you wait until age 40 to start earning $200,000 per year (like most do) and investing 50% of your salary, your investment will only grow to around $2.6 million by the time you reach age 55.
Another reason why earning a lot while young is so important is that it can help you avoid debt and financial stress. If you earn a high salary early in your career, you will be less likely to accumulate debt from student loans, credit cards, and other sources. This can give you more financial freedom and allow you to focus on building your wealth and pursuing your goals.
Of course, earning a lot while young is easier said than done. To achieve a high salary, you need to focus on building the right skills, pursuing education and training opportunities, and networking with industry professionals. You may need to take on challenging roles or start your own business (for better tax treatment).
It's also important to remember that earning a high salary is not the only factor in building long-term financial success. You also need to focus on managing your money wisely, investing in a diversified portfolio, and avoiding unnecessary expenses.
In conclusion, the financial decisions you make early in life can have a profound impact on your long-term financial success. While it's important to focus on earning a high salary, it's also important to manage your money wisely and invest for the future. By taking a proactive approach to your finances and focusing on building a solid financial foundation, you can set yourself up for a lifetime of financial security and success.
This is not financial advice and you should always do your own research before investing in any securities or cryptocurrencies.
Sci-Tech
By Keyann Al-Kheder, Software Engineer in Web3
Generative 3D design
Traditionally, 3D design has been very laborious, long, complex, and technical, requiring significant expertise, time, and specialized software to create sophisticated models and animations. However, with the rise of Generative AI, the obstacles to no-code 3D design and development are being transcended. Generative AI allows designers and developers to input parameters and specifications into an algorithm, which then generates designs that meet those criteria.
Why do I think this is relevant?
If you consider how big platforms like Shopify, Photoshop, and Canva lowered the barriers to entry for web development and graphic design, and ushered in a wave of e-commerce sites and social media content, then generative AI will do the same for 3D design and development, making it more accessible to a wider audience which will bring about a new era of content and experiences online.
Generative 3D design and animation is also being called text-to-3d or text-
With the power of AI, even those without specialized training or expertise can create beautiful, high-quality 3D models, opening up new possibilities for creativity and innovation.
To see what it looks like in action, https://www.linkedin.com/feed/update/urn:li:activity:7047096102365343744?utm_source=share&utm_medium=member_desktop
Paradigm Shift
By Roman Kuittinen-Dhaoui, BBA (Hons.), CPHR Candidate
You’re Interviewing Them
I started my HR career in recruitment because I believed that hiring decisions are some of the most important decisions management can make. The difference between hiring a low, average, and high performer can be immense in terms of productivity, creativity, retention, advancement, etc. People have different skills, abilities, and potentials; that’s what makes hiring decisions difficult.
Recruitment is convincing people to join an organization via a job and:
Compensation (e.g., salary, bonus, stock, pension, vacation and sick days, etc.).
Benefits (e.g., vision, physio, chiro, mental health, RMT, dental, disability, life, etc.).
Perks (e.g., work from home, office gym, corporate discounts, etc.).
Culture (e.g., DEIB initiatives, autonomy, positive atmosphere, flexibility, fun, challenges, etc.).
Development opportunities (e.g., in-house courses, networking, education funds, etc.).
Advancement opportunities (e.g., promotions, lateral moves, changes in career paths, etc.).
Stability.
However, often candidates view recruiting as a one-way exchange where they are at the mercy of the employer who will decide if they get the job and how much they will be paid for it. However, in recent years, the environment has changed. It is now a candidates market! There isn’t enough skilled labour for all the job vacancies. This means that now more than ever candidates need to interview employers to see if their organization is really somewhere they want to work; especially folks with specialized skills and/or who are high performers.
Candidates should interview the hiring team for several reasons. First, it provides an opportunity for the candidate to gain valuable insights into the company culture and work environment. This can help them determine if they would be a good fit for the organization and the team they may be working with. Second, it allows the candidate to ask questions about the role and the company directly to the people who will be their supervisors and colleagues. This can give the candidate a better understanding of the job responsibilities and expectations, as well as the company's goals and values. Lastly, it can help build rapport and establish a connection with the hiring team, which can improve the candidate's chances of being offered the position. Overall, interviewing the hiring team can provide candidates with important information and help them make informed decisions about their job search.
TLDR: if you are of value, you should be interviewing them too.
(Head)Space
By Roman
Shake it Off and Step Up
This week I want to share the below fable with you.
One day a farmer’s donkey fell down into a well. The animal cried piteously for hours as the farmer tried to figure out what to do. Finally, he decided the animal was old, and the well needed to be covered up anyway-it just wasn’t worth it to retrieve the donkey.
He invited all of his neighbours to come over and help him. They all grabbed a shovel and began to shovel dirt into the well. At first, the donkey realized what was happening and cried horribly. Then, to everyone’s amazement, he quieted down.
A few shovel loads later, the farmer finally looked down the well. He was astonished at what he saw. With each shovel of dirt that hit his back, the donkey was doing something amazing. He would shake it off and take a step up.
As the farmer’s neighbours continued to shovel dirt on top of the animal, he would shake it off and take a step up. Pretty soon, everyone was amazed as the donkey stepped up over the edge of the well and happily trotted off!
The Moral of the Story
Life is going to throw obstacles in your way (aka the dirt). You have two choices: either you slowly get buried alive until your problems become insurmountable and you’re in the hole (e.g., getting obese, going into debt, putting up with a mediocre relationship, working a dead-end job, etc.), or you shake it off and take a step up. You won’t get out of the well in one step, it’ll take several steps; meaning persistence, discipline, consistency, etc.
Company of the Week
Moët Hennessy Louis Vuitton SE, commonly known as LVMH, is a French multinational luxury goods conglomerate which owns numerous well-known luxury brands such as Louis Vuitton, Christian Dior, Fendi, Givenchy, Off-White, Rimowa, Birkenstock, Kenzo, Marc Jacobs, Tiffany & Co, Hublot, Bulgari, Celine, Sephora, Hennessy, Dom Perignon, Belvedere, Veuve Clicquot, and many others.
The company was founded in 1987 by Bernard Arnault, who’s currently the richest person in the world, according to Forbes. Arnault is also currently the CEO and Chairman of the company, which reported a revenue of $86.4 billion and profits of $59.2 billion in 2022.
Written by: Vlad Estoup, Keyann Al-Kheder, and Roman Kuittinen-Dhaoui