Gap Year,
3.16 | “Goal setting is the secret to a compelling future.” — Tony Robbins
News and Numbers
Markets this Week:
S&P 500 is trading flat.
NASDAQ 100 is down 1%.
Bitcoin-USD is down 1%.
Ethereum-USD is down 2%.
Headlines from this Week:
“Suga” Sean O'Malley TKO’d Aljamain Sterling to become a UFC superstar AND NEW undisputed 135-pound bantamweight champion!
Finance
By Vlad Estoup, B.Comm. (Finance); working in Ethereum cybersecurity
Cutting out the news.
In the fast-paced world of financial markets, staying informed is essential for investors and traders alike. Mainstream financial news outlets play a pivotal role in disseminating information, but at times, they come under scrutiny for disseminating inaccurate or irrelevant information. This phenomenon raises an important question: why do mainstream financial news sources often seem to diverge from the reality of the market?
In a media landscape driven by viewership and ratings, sensationalism can be a powerful tool. Financial news outlets, like any other news sources, strive to capture and retain their audience's attention. Consequently, they may highlight extreme market scenarios or worst-case scenarios, even if these outcomes are improbable. While this approach can be effective in boosting ratings, it can also distort the overall perception of market trends. Investors who rely solely on sensationalized news might find themselves navigating a skewed version of reality.
Financial markets are known for their short-term volatility, with prices of stocks, commodities, and currencies fluctuating by the minute. Mainstream financial news tends to emphasize these short-term fluctuations and immediate market reactions. While keeping up with the latest developments is important, an excessive focus on daily price movements can lead to an overemphasis on short-term gains and losses. This approach often sidelines more comprehensive analyses that consider long-term trends and fundamental factors. As a result, investors who base their decisions solely on such news pieces might overlook crucial underlying factors that drive market behavior over time.
One of the primary challenges in financial journalism is providing news within a concise format. This brevity can sometimes lead to a lack of context surrounding market events. News stories might detail market movements without fully explaining the reasons behind them. Without a thorough understanding of the factors influencing market shifts, investors might make rushed decisions based on incomplete information. In this context, the absence of context can be just as misleading as inaccurate information.
While mainstream financial news outlets certainly have their shortcomings, they remain valuable sources of information for investors. It's essential to approach financial news with a critical mindset and be mindful of the factors that could lead to inaccuracies or irrelevance. To navigate this landscape effectively:
Diversify Your Sources: Rely on a variety of reputable news outlets to gain a well-rounded perspective. This can help counterbalance the biases and limitations of any single source.
Fact-Check and Verify: Before making any investment decisions based on news reports, take the time to verify the information from multiple sources. Cross-referencing can help you identify accurate and reliable information.
Seek Context: When encountering news about market movements, delve deeper to understand the underlying causes. Consider seeking expert opinions and analysis to gain a more comprehensive view.
In conclusion, while mainstream financial news outlets have been criticized for disseminating inaccurate or irrelevant information, their role in keeping investors informed cannot be dismissed outright. By acknowledging the influences of sensationalism, short-termism, and contextual deficiencies, investors can adopt a more discerning approach to consuming financial news, ultimately making more informed decisions in the complex world of financial markets.
This is not financial advice and you should always do your own research before investing in any securities or cryptocurrencies.
Sci-Tech
By Keyann, Software Engineer in Web3
Paralysis By Analysis
Deciding on a career focus can be a daunting task for many engineers and early professionals alike, often causing what can be called "paralysis by analysis." This phenomenon is not limited to the early stages of one's career but can recur at various junctures, like choosing university major, a leaving professionals and students questioning their specialization choices. It's a conundrum that often stalls career momentum, demanding more attention than it often receives.
The Landscape of Specializations
In the realm of software engineering, the list of domains and specializations is almost overwhelming. Whether you're attracted to artificial intelligence, electric vehicles, blockchain, fintech, energy sectors, AgTech, or quantum computing, there's no shortage of fields to explore. But the complexity doesn’t end there. Within these broader categories, numerous sub-domains like decentralized finance (DeFi), NFTs, logistics and supply chain management, Banking, and payment systems await your expertise. Even within a realm like blockchain and DeFi, you can specialize as an Ethereum expert or Solana expert, or within programming languages, you could be a maven in JavaScript, C#, Java, Go, Rust, Ruby on Rails, or Python.
The Opportunity Cost of Indecision
While it's a luxury to have so many options, the decision-making process can become agonizing. Few people know right away that they want to be, for instance, a full-stack developer specializing in DeFi on the Ethereum platform. However, the longer you linger in this indecisive state, the greater the opportunity cost. Precious time that could be spent honing skills and increasing employability is instead consumed by vacillation.
Strategy: Pick, Commit, Pivot
So, how do you break free from this paralysis? One effective approach is to pick a domain and commit to it, at least temporarily. If your interests change or you discover a more exciting avenue, pivoting is always an option. The key is to maintain forward momentum.
Take the Next Logical Step
Another strategy to break this cycle is to focus on the immediate next step rather than surveying the entire landscape of possibilities. For example, if you already have experience with JavaScript and are tempted by machine learning and AI, don't jump ship just yet. Your immediate next step could be to build an application using JavaScript. Once you invest time in this, you'll create a window to explore other domains, perhaps even integrating AI into your JavaScript app as a next step.
Conclusion
The path of engineering is not a linear journey but a dynamic one, filled with twists, turns, and pivot points. While paralysis by analysis is a common barrier, it can be overcome by committing to a focus and allowing yourself the flexibility to adapt as you go. After all, taking the next step is better than taking no step at all.
Paradigm Shift
By Roman Kuittinen-Dhaoui, BBA, CPHR Candidate; working in Human Resources
The Value of a Gap Year
The path for many tends to be some form of this: go to high school, go to post secondary school, get a job or start a career, etc. This path preoccupies people but often leads them to being in situations they didn’t intend.
Taking a gap year after graduating from high school can offer several valuable benefits, although its value varies depending on individual goals, circumstances, and how the year is utilized. Here are some potential advantages of a gap year:
Personal Growth and Exploration: A gap year allows you to step outside the academic environment and explore your interests, passions, and personal goals. It can provide you with time to reflect on your future direction and develop a clearer sense of who you are and what you want to achieve.
Cultural and Global Exposure: Traveling or engaging in cultural immersion programs during a gap year can expose you to new cultures, languages, and ways of life. This experience can broaden your perspective, enhance your intercultural competence, and make you more adaptable to diverse environments.
Skill Development: You can use a gap year to learn practical skills that may not be part of the traditional educational curriculum. This could include learning a new language, gaining work experience, or developing skills in areas such as photography, cooking, or coding.
Work Experience: Many students use their gap year to work, either in paid positions or as volunteers. This work experience can teach valuable skills such as time management, communication, and teamwork, while also providing insights into potential career paths.
Clarifying Career Goals: If you're unsure about your future career path, a gap year can be a valuable time to explore different fields through internships, shadowing professionals, or networking. This exploration can help you make more informed decisions about your educational and career choices.
However, it's important to note that a gap year isn't suitable for everyone, and there can be potential drawbacks. It might delay your formal education, and without a clear plan, it could lead to unproductive or aimless time. Financial considerations and the need for structure and discipline should also be taken into account.
Ultimately, the value of a gap year depends on how effectively you use the time to pursue your goals, learn, grow, and prepare for your future endeavors. It's a decision that should be made after careful consideration of your individual circumstances and aspirations.
(Head)Space
The Power of Influence: How Your Inner Circle Shapes Your Net Worth
The adage "You are the average of the five people you spend the most time with" holds a profound truth, especially when it comes to your financial success. The concept that your net worth is influenced by the company you keep is not merely a catchphrase; it reflects the impact of your social circle on your financial mindset, decisions, and outcomes.
1. Shared Mindset and Attitudes
The people you surround yourself with often share similar values, beliefs, and attitudes towards money. If your inner circle comprises individuals who prioritize financial growth, saving, and investing, you're more likely to adopt these habits as well. Conversely, if those around you have a laissez-faire attitude towards money, you might inadvertently develop a similar perspective. A positive financial mindset within your circle can drive motivation and inspire you to pursue opportunities that lead to wealth accumulation.
2. Learning and Education
Your net worth can also be influenced by the collective knowledge and experience of your inner circle. Surrounding yourself with individuals who are financially savvy, experienced investors, or successful entrepreneurs can expose you to valuable insights and lessons. This knowledge exchange can empower you to make informed financial decisions, whether it's about investments, business ventures, or personal finance strategies.
3. Network and Opportunities
Your social circle can open doors to valuable networking opportunities. People with diverse backgrounds and connections can introduce you to potential business partners, clients, investors, or mentors. A well-connected inner circle can provide a direct route to new ventures and collaborations, potentially boosting your income and net worth.
4. Accountability and Support
Having a supportive network can play a pivotal role in achieving your financial goals. When you surround yourself with individuals who hold you accountable and encourage your growth, you're more likely to stay committed to your career plans. Regular discussions about progress, setbacks, and strategies can help you stay on track and make necessary adjustments along the way.
5. Mindset Upgrade
Positive peer influence can prompt you to raise your financial aspirations and goals. When your inner circle constantly challenges you to aim higher, you'll naturally strive for greater achievements. This shift in mindset can lead to pursuing higher-paying business opportunities, exploring entrepreneurial ventures, and making bolder investment choices, all of which can contribute to an increase in your net worth.
Company of the Week
Rytr
Rytr is an AI-powered writing tool that helps users generate high-quality content quickly and easily. With Rytr, users can generate content for a variety of purposes, including blog posts, social media posts, product descriptions, and more, by simply providing some basic information and letting the AI take care of the rest.
Written by: Vlad Estoup, Keyann Al-Kheder, and Roman Kuittinen-Dhaoui