Experts Slam Apple’s Child Protection Phone-Scanning Technology

A group of leading cybersecurity experts has spoken out against Apple’s plan to detect child sexual abuse images on iPhones, claiming it amounts to mass surveillance and should be banned.

Earlier this year, Apple announced plans to introduce client side scanning, searching individual devices’ iCloud photo libraries for child sexual abuse material (CSAM). Images would be scanned using a technology called NeuralHash and then compared with known CSAM material, before being reported to the authorities.

The plans were delayed last month, with Apple stating that feedback from customers, advocacy groups, researchers and others was prompting it to look for improvements.

Now, though, there’s more feedback, and from sources that it’s hard to downplay. In a paper titled Bugs in our Pockets: The Risks of Client-Side Scanning, security and cryptograhy experts Hal Abelson, Ross Anderson, Steven M. Bellovin, Josh Benaloh, Matt Blaze, Jon Callas, Whitfield Diffie, Susan Landau, Peter G. Neumann, Ronald L. Rivest, Jeffrey I. Schiller, Bruce Schneier, Vanessa Teague, and Carmela Troncoso claim the technology goes much too far.

“In this report, we argue that CSS neither guarantees efficacious crime prevention nor prevents surveillance,” they write.

“Indeed, the effect is the opposite. CSS by its nature creates serious security and privacy risks for all society while the assistance it can provide for law enforcement is at best problematic. There are multiple ways in which client-side scanning can fail, can be evaded, and can be abused.”

The main fear is the risk of abuse by repressive governments. While Apple says that only CSAM and terrorist material would be flagged, the researchers aren’t so sure.

“If device vendors are compelled to install remote surveillance, the demands will start to roll in. Who could possibly be so cold-hearted as to argue against the system being extended to search for missing children?” writes Ross Anderson, professor of security engineering at the University of Cambridge.

“Then President Xi will want to know who has photos of the Dalai Lama, or of men standing in front of tanks; and copyright lawyers will get court orders blocking whatever they claim infringes their clients’ rights.”

With the EU believed to be considering device scanning as a part of a new law on child protection, the researchers say that it should be a national-security priority to ‘resist attempts to spy on and influence law-abiding citizens’.

And, they point out, the Data Retention Directive has already been struck down on the grounds that such bulk surveillance, without warrant or suspicion, was an unacceptable infringement of privacy, even in the fight against terrorism. Client-side scanning is equally problematic, the researchers say.

“Instead of having targeted capabilities such as to wiretap communications with a warrant and to perform forensics on seized devices, the agencies’ direction of travel is the bulk scanning of everyone’s private data, all the time, without warrant or suspicion,” they write.

“That crosses a red line. Is it prudent to deploy extremely powerful surveillance technology that could easily be extended to undermine basic freedoms?”

I’ve been writing about technology for most of my adult life, focusing mainly on legal and regulatory issues. I write for a wide range of publications: credits include the Times, Daily Telegraph and Financial Times newspapers, as well as BBC radio and numerous technology titles. Here, I’ll be covering the ways content is controlled on the internet, from censorship to online piracy and copyright. You can follow my posts by clicking the ‘ Follow’ button under my name.

Source: Experts Slam Apple’s Child Protection Phone-Scanning Technology

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5 Pieces of Essential Life Advice From Seniors

It’s hard to feel a sweeping sense of perspective when you’re stuck in traffic, or feeling buried by work, or overwhelmed by family demands. But those are exactly the moments when some words of wisdom from your elders — the people who’ve been there, like the ones below — can come in handy.

Each of these insights comes from a conversation conducted during the Great Thanksgiving Listen, an annual initiative from TED Prize winner Dave Isay and his team at StoryCorps that asks people to interview an older family member or friend during the US holiday weekend. By participating, you could unlock new stories about your family or gain a different perspective on historical events, while ensuring your loved one’s story is preserved in the StoryCorps Archive at the Library of Congress’ American Folklife Center. And you might just hear a piece of useful advice that will get you through a difficult moment.

Think of hard times like bad weather — they too will pass.

Arden Fleming, 15, calls her grandmother Agneta Vulliet her “biggest role model.” Vulliet, the daughter of French immigrants, grew up in New York City, and she says she first learned about independence when she went to boarding school. Vulliet left school before graduation to get married, and ended up getting her high school degree at night school — while raising two kids. She studied art in college, where a professor was impressed with her determination and recommended her for a scholarship. Toward the end of their interview, recorded in October 2017 in Wellfleet, Massachusetts, Fleming asked her grandmother for advice.

“What I want you to know and keep in mind is that your 20s are very turbulent and that it does get better,” Vulliet says. “You want so much for yourself, you have such expectations, you have so many wishes to succeed, and there’s a lot of anxiety that goes with how all that will take shape. I never want you to get carried away with how hard it seems.” She adds, “Growing up is a lot like the weather. Every time you hit the big storms that seem like they’re going to snow you under, it will change and get better — and the sun will come out.”

Draw inspiration from all the people you meet.

Bill Janz traveled the world as a journalist, and wrote a column for the Milwaukee Journal Sentinel about ordinary people who’d shown remarkable courage. In a 2015 interview with his 14-year-old grandson, Jasper Kashou in Freedonia, Wisconsin, the now-retired Janz shared memorable stories from his days as a reporter — of almost falling off an elephant into tall grass where a tiger was hiding while in India, and of crawling on his belly to avoid sniper fire in Croatia during the Bosnian War.

But when Kashou asked him about the person who’d impacted him the most, Janz spoke of someone closer to home. “A boy named Eddy helped me see a little bit about what life is all about,” says Janz. Eddy was a 10-year-old he’d written about whose leg was amputated due to cancer. “No matter what happened to him, he never gave up,” he recalls. “I called Eddy once at home, and the phone rang and rang and rang. Finally, he picked up the phone.

I said, ‘Eddy. I was just about to hang up. Where were you?’ And he said, ‘Bill, I was in another room. My crutches weren’t near, so I crawled to the phone.’” Janz often finds himself thinking about that conversation. “He was only a young man, but he was teaching an old man to never give up,” Janz said. “I sometimes tend to give up and go do something else, and [he helps me] remember not to do that.”

Love your work — for the salary and for the people.

Bennie Stewart, 80, got his first job at age 7 — he’d run errands for his neighbors and get paid in chicken eggs. In a 2015 interview with grandaughter Vanyce Grant, 17, in Chicago, he talked through his many jobs. Stewart chopped cotton for $3 a day in 115 degree heat; bused dishes; cleaned buildings as a janitor; sold insurance; and eventually found his passion as a social worker and, later, as a pastor.

Grant asked his grandfather about what led him to these different occupations. “I love talking to people,” Stewart says. “I’ve been told I have the gift of gab, so I can talk and I can grasp things real fast. I always took pride in being able to listen to instructions and pick them up quick.” What lessons did he learn from his work experience? “It taught me that I can have something of my own and provide for my family and get some of the things in life that I couldn’t,” he says.

These themes echo those in an interview that Torri Noakes, 16, recorded with her grandmother Evelyn Trouser, 59, in 2016 in Flint, Michigan. Trouser worked in auto factories, first on the line and then as a welder. “My advice to everybody in my family: learn to take care of yourself. Don’t depend on anyone to provide you with anything,” Trouser says. She refuted any notion that her jobs were dreary. “I used to love going to work,” she said. “It’s the people you’re with that makes a job fun or not. As far as I’m concerned, it’s the people you’re with that make things different.”

Find mentors who can guide you and challenge you.

Allen Ebert, 73, reminisced about his working days in an interview with grandson Isaiah Ebert, 15, also recorded in 2016 in Flint. Ebert first worked as a welder in an auto factory when he was young and said the experience helped him once he entered medical school. “If you understand how something works, when it breaks you know what to look for and how to fix it,” he said. “Even the body is mechanical.”

When Ebert spoke about his experiences as a doctor, he impressed one thing upon his grandson: look for mentors. “The stuff you’re doing right now in school, you’re learning from people who know something you don’t know. Continue that throughout your life,” he says.

To find mentors, you should look beyond your bosses and teachers. “Just develop relationships with people whom you can observe, even from a distance, and see how they accomplish things,” Ebert says. “The way I look at it: in life, we probably make 95 percent good decisions and about 5 percent messed-up decisions. A large part of our lives as adults is fixing the mess of those few wrong decisions, and you can minimize them by just having people in your life who will challenge you and make you think twice, who will say, ‘Well, that doesn’t sound right to me.’”

Make the most of less.

According to StoryCorps, many people use the Great Thanksgiving Listen as a time to ask about family recipes. Along with step-by-step instructions, they receive a slice of family history, as well as life advice.

Some of the stories highlight one of the secrets to a life well-lived: learning to make the most of what you have. Kiefer Inson, 28, talked to his grandmother Patricia Smith, 80, about her classic tuna noodle casserole made with canned tuna. “When I was 18, I was married and had a child and did not have an outside job, so I’d go to the library, bring home cookbooks, and try the recipes,” Smith says. “Back then, we were on a very limited budget.

A pound of fish cost 69 cents, so I learned to cook a lot of things with that.” Jaxton Bloemhard, 16, interviewed his mother, Bethany Bloemhard, 38, about Ukranian pierogies. She told him how her own grandmother would make hundreds at a time. “She’d tell stories about how they kept the Ukranian people alive,” says Bethany Bloemhard. “The Ukrainians grew potatoes like nobody’s business, and as long as you had flour, water and some oil, you could make the dough.”

Other stories point to the need to keep trying until you succeed. June Maggard, 87, spoke to her granddaughter Emily Sprouse, 33, about the recipe book that she’s kept for 30 years. “People say they can’t make bread or biscuits, or anything really, but you just have to learn the feel,” Maggard says. “That comes by doing.”

Learn more about participating in the Great Thanksgiving Listen.

For more on what we get when we listen to people’s stories, watch Dave Isay’s TED Prize talk.

By: Kate Torgovnick May

Source: 5 Pieces of Essential Life Advice From Seniors

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Facebook Still ‘Secretly’ Tracks Your iPhone This Is How To Stop It

Despite Apple’s public crackdown on Facebook data harvesting, the social media giant will store your iPhone’s location even when you have set it “never” to do that. Now you can stop Facebook in its tracks, ensuring your phone can’t be secretly tracked.

Facebook is reeling as it becomes clear that Apple’s privacy innovations are throttling some of its most lucrative revenue streams. But while stopping cross-app and cross-site tracking is a huge plus for a billion-plus iPhone users, when you use apps provided by the likes of Facebook and Google, you still share way too much of your data.

This should be well understood—there have been enough warnings. But even when users think they’ve done the right things—changed settings to opt for privacy, there are still backdoors, such as with private photos you upload to Facebook and Instagram.

The photos you take on your iPhone include metadata, data about the photos that is embedded into the photo file itself. When you send the photo in its original form, the metadata goes along. That data includes the model of your phone, the way your camera was set up, the date and time the photo was taken, and, critically, where it was taken.

That location data is very precise—and it’s very useful, because you can search photos on your phone by place, logically collating your memories. But when you upload photos to Facebook or Instagram, that metadata is stripped away. If you save photos from either back to your device, you’ll see that there is no embedded location data.

So, does Facebook delete the location data after it has been stripped? No, of course not. Why would the world’s most avaricious data harvester throw away valuable information that it can use to monetize you even further? Facebook stores the data in its multi-billion-dollar data vault, against your profile.

No surprises there. What is surprising, though, is that Facebook strips and stores this data even when you’ve told the platform (both online and on your iPhone) “never” to track your location. Why Facebook thinks this is okay, I fail to understand.

You can see this for yourself. If you upload a photo to Facebook and then download “your Facebook information,” you will see Facebook has stored the exact GPS location stripped from the photo, as well as your IP address when you uploaded the image.

The data “we collect,” Facebook says in its privacy policy, “can include information in or about the content that you provide (e.g., metadata), such as the location of a photo or the date a file was created.” This location data is used “to provide, personalize and improve our products, including ads.

Until now, fixing this issue has been painful. You need to either disable your iPhone camera’s photo location tagging or use a third-party app to strip the metadata before uploading images. Thankfully, Apple has just fixed the problem.

In your photo album, swipe up any image or select the “i” in the bottom menu bar, and select “Adjust.” You can then change the location to one of your choice or delete it.

This isn’t just a great option for Facebook, of course. While many messaging apps, including WhatsApp and Signal, strip (but don’t save) metadata, iMessage and email attachments retain embedded data, as do photos added to shared albums.

If you’re sharing photos, there are many reasons you might not want to share the exact location. Putting safety aside, many a person has been caught out by inadvertently revealing where they are (and where they are not) via this invisible metadata.

I have warned on this Facebook and Instagram loophole before, and when I have asked Facebook about this, it has confirmed that the platform “collects and processes” such data. When asked if this is used for advertising, “regardless of the privacy settings selected by a user,” I was told it was fine to proceed with those assumptions.

Facebook has enough of your data. This is a great example of where you can hold something back without any detrimental impact to you whatsoever. If you’ve taken the trouble to stop Facebook capturing your location, make sure it’s doing as it’s told.

Zak is a widely recognized expert on surveillance and cyber, as well as the security and privacy risks associated with big tech, social media, IoT and smartphone platforms. He is frequently cited in the international media and is a regular commentator on broadcast news, with appearances on BBC, Sky, NPR, NBC, Channel 4, TF1, ITV and Fox, as well as various cybersecurity and surveillance documentaries.

Zak has twenty years experience in real-world cybersecurity and surveillance, most recently as the Founder/CEO of Digital Barriers, which develops advanced surveillance technologies for front line security and defense agencies as well as commercial organizations in the US, Europe and Asia. The company is at the forefront of AI-based surveillance and works closely with flagship government agencies around the world on the appropriate and proportionate use of such technologies. As well as analyzing security and surveillance stories, Zak is co-creator of Forbes’ award winning Straight Talking Cyber video series. Zak can be reached at zakd@me.com.

Source: Facebook Still ‘Secretly’ Tracks Your iPhone—This Is How To Stop It

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FDA Committee Says It’s Safe For All Adults Who Got J&J’s COVID-19 Vaccine To Get a Booster

The Food and Drug Administration should authorize a second “booster” dose of Johnson & Johnson’s JNJ, +0.74% COVID-19 vaccine for adults who were initially vaccinated with this vaccine, according to a group of scientists and clinicians that advises the regulator.

The FDA’s Vaccines and Related Biological Products Advisory Committee voted 19-0 that allowing adults who were initially vaccinated with the J&J shot to get a booster is safe and effective. Their recommendation is based on giving a booster to those 18 years old and older at least two months after they got their first shot.

“This does look more like a two-dose vaccine,” Dr. Michael Nelson, a professor of medicine UVA Health and the UVA School of Medicine and a temporary voting member of the FDA committee.

One difference with this booster recommendation is that the group of people who would qualify for the J&J booster can get it two months after getting their first dose, compared with six months after the primary series of shots for the mRNA vaccines developed by Moderna Inc. MRNA, -2.31% and BioNTech SE BNTX, -1.06% /Pfizer Inc. PFE, -0.43%.

If the FDA follows the advice of the committee, which it is not required to do but often does, it means that all three COVID-19 vaccines that are available in the U.S. have authorized boosters, with the caveat that there are restrictions in place on who can get a mRNA booster.

The mRNA boosters are reserved at this time for people older than 65 years old, adults who are at high risk of severe disease, and those who face higher exposure to the virus because of their jobs.

About 15 million people in the U.S. have received the J&J’s adenovirus-based COVID-19 vaccine. J&J’s stock is up 2.6% so far this year, while the broader S&P 500 SPX, +0.75% has gained 18.1%.

By: Jaimy Lee

Jaimy Lee is a health-care reporter for MarketWatch. She is based in New York.

Source: FDA committee says it’s safe for all adults who got J&J’s COVID-19 vaccine to get a booster – MarketWatch

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Critics:

The Janssen COVID‑19 Vaccine has not been approved or licensed by the U.S. Food and Drug Administration (FDA), but has been authorized by FDA through an Emergency Use Authorization (EUA) for active immunization to prevent Coronavirus Disease 2019 (COVID‑19) in individuals 18 years of age and older.

The emergency use of this product is authorized only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of the medical product under Section 564(b)(1) of the FD&C Act, unless the declaration is terminated or authorization revoked sooner.

Healthcare professionals should be alert to the signs and symptoms of thrombosis with thrombocytopenia in individuals who receive the Janssen COVID-19 Vaccine. In individuals with suspected thrombosis with thrombocytopenia following administration of the Janssen COVID-19 Vaccine, the use of heparin may be harmful and alternative treatments may be needed.

Consultation with hematology specialists is strongly recommended. The American Society of Hematology has published considerations relevant to the diagnosis and treatment of thrombosis with thrombocytopenia following administration of the Janssen COVID-19 Vaccine (https://www.hematology.org/covid-19/vaccine-induced-immune-thrombotic-thrombocytopenia).

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You May Have Always Known Women Are Good With Money , Now Research Confirms It

A growing number of women are increasing their investing prowess and financial education, research shows. The ladies are stepping it up. I love this kind of news.

I admit I am a sucker for a study that shines the light on women and money in a positive way. And the key findings from Fidelity Investments “2021 Women and Investing Study” do just that.

I know, I just did this happy dance with the MIT “Freak Out” report, but more to enjoy here.

The bold headline: two-thirds (67%) of women are now investing savings they have outside of retirement accounts and emergency funds in the stock market, which represents a 50% increase from 2018, according to the research. What’s more, 52% are planning to create a financial plan to help them reach their goals within the next year.

This is noteworthy since women typically get the bad rap of being nervous and cautious investors, who probably would find investing in stocks uncomfortable. Women are also notorious for saying financial planning is boring, or they aren’t good with numbers. Neither which is true, but an excuse for not understanding investing terminology perhaps and being intimidated by the seemingly macho world of Wall Street.

Where are they putting those extra savings funds besides individual stocks and bonds? The study found that women also socked money away in mutual funds and ETFs (63%) and money-market funds or CDs (50%): ESG/sustainable investments (24%) and get this: 23% in cryptocurrencies. I had to look at that last statistic twice, but that’s what the report says.

The age brackets by generation for those investing outside of retirement account–a whopping 71% of female millennials—ages 25 to 40; 67% of Generation X—ages 41 to 56 and 62% of boomer women ages 57 to 75. All good numbers.

But as anyone who has been reading my column knows, this is the nugget that made a smile spread across my face: When women do invest, they see results: new scrutiny of more than 5 million Fidelity customers over the last 10 years finds that, on average, women outperformed their male counterparts by 40 basis points, or 0.4%. That’s not a heap mind you, but a win is a win.

I’ll take it.

“Over the last few years, we were already seeing an increasing number of women investing outside of retirement to grow their savings, but the pandemic really lit a fire under that momentum,” Kathleen Murphy, president of Personal Investing at Fidelity Investments, told me.

“It’s driven many to reflect and re-prioritize what’s most important and focus on making greater progress toward those goals. We’re seeing that motivation in the record numbers of women reaching out for financial planning help and opening new brokerage accounts, as well as advisory accounts.”

The data was drawn from a nationwide survey of 2,400 American adults (1,200 women and 1,200 men). All respondents were 21 years of age or older, had a personal income of at least $50,000 and were actively contributing to a workplace retirement savings plan, like a 401(k) or 403b. This survey was conducted in July 2021 by CMI Research, an independent research firm.

The overall findings are certainly promising.

Yet when you get into the weeds you find that only a third of women canvassed see themselves as investors, according to the study. Only 42% feel confident in their ability to save for retirement and a mere 33% say they feel confident in their ability to make investment decisions.

Most women (64%) say they would like to be “more active in their financial life, including making investing decisions,” but 70% believe they would have to learn about “picking individual stocks” to get started.

I like that awareness of the need to get educated. (One of my favorite authors for this topic is Jonathan Clements, the founder and editor of HumbleDollar and the author of many personal finance books, including From Here to Financial Happiness and How to Think About Money.)

As Fidelity’s Murphy mentioned: Half of the women say they are more interested in investing than they were at the start of the pandemic and want to learn more — not just about how to start investing — but how to evaluate and select different types of investments to align with specific goals, and how to manage an existing portfolio to ensure they are on track.

These findings are in step with what Catherine Collinson, chief executive and president of the nonprofit Transamerica Institute and Transamerica Center for Retirement Studies told me when I interviewed her for this column: What’s Behind the Surprising Gender Split for Boomers’ Retirement Saving?

Her firm also found that “early indicators are that the pandemic has prompted both men and women to engage in their finances and pore over their financial situation to a degree that they may not have previously.”

Finally, here’s the nagging fear many of us (me too) can relate to: 32% of women say not earning enough money keeps them up at night, according to the research. For 37%, it’s managing debt that’s their night sweat. And more than half of women say it’s worries about long-term finances that has them tossing and turning.

Age is an indicator of whether money woes keep us up at night, but not the way you might expect, or at least what I did. Overall, it’s the millennial women who are the most troubled when the light goes out: 77% say finances have kept them up at night as compared to 73% of Generation X and 59% of boomers.

Here’s to sweeter dreams ahead.

By: Kerry Hannon

Kerry Hannon is a leading expert and strategist on work and jobs, entrepreneurship, personal finance and retirement. Kerry is the author of more than a dozen books, including “Never Too Old to Get Rich,” “Great Jobs for Everyone 50+,” and “Great Pajama Jobs: Your Complete Guide to Working From Home.” Follow her on Twitter @kerryhannon.

Source: You may have always known women are good with money — now research confirms it – MarketWatch

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Facing Shortfalls, Pension Managers Turn to Risky Bets

The graying of the American employee is a math drawback for Farouki Majeed. It’s his job to take a position his means out. Mr. Majeed is the funding chief for an $18 billion Ohio college pension that gives retirement advantages to greater than 80,000 retired librarians, bus drivers, cafeteria staff and different former staff. The issue is that this fund pays out extra in pension checks yearly than its present staff and employers contribute. That hole helps clarify why it’s billions in need of what it must cowl its future retirement guarantees.

“The bucket is leaking,” he mentioned. The answer for Mr. Majeed—in addition to different pension managers throughout the nation—is to tackle extra funding threat. His fund and plenty of different retirement programs are loading up on illiquid belongings resembling personal fairness, personal loans to corporations and actual property.

So-called “various” investments now comprise 24% of public pension fund portfolios, in response to the latest knowledge from the Boston School Middle for Retirement Analysis. That’s up from 8% in 2001. Throughout that point, the quantity invested in additional conventional shares and bonds dropped to 71% from 89%. At Mr. Majeed’s fund, alternate options had been 32% of his portfolio on the finish of July, in contrast with 13% in fiscal 2001.

This technique is paying off in Ohio and throughout the U.S. The median funding return for all public pension programs tracked by the Wilshire Belief Universe Comparability Service surged to almost 27% for the one-year interval ending in June. That was one of the best consequence since 1986. Mr. Majeed’s retirement system posted the identical 27% return, which was its strongest-ever efficiency primarily based on information courting again to 1994. His private-equity belongings jumped almost 46%.

A majority of these blockbuster positive aspects aren’t anticipated to final for lengthy, nevertheless. Analysts anticipate public pension-fund returns to dip over the subsequent decade, which is able to make it tougher to cope with the core drawback dealing with all funds: They don’t have sufficient money to cowl the guarantees they made to retirees. That hole narrowed in recent times however remains to be $740 billion for state retirement programs, in response to a fiscal 2021 estimate from Pew Charitable Trusts.

This public-pension predicament is the results of many years of underfunding, profit overpromises, unrealistic calls for from public-employee unions, authorities austerity measures and three recessions that left many retirement programs with deep funding holes. Not even the 11-year bull market that ended with the pandemic or a fast U.S. restoration in 2021 was sufficient to assist pensions dig out of their funding deficits utterly.

Demographics didn’t assist, both. Prolonged lifespans brought about prices to soar. Wealthy early-retirement preparations and a wave of retirees world-wide additionally left fewer lively staff to contribute, widening the distinction between the quantity owed to retirees and belongings available.

Low rates of interest made the pension-funding drawback much more tough to unravel as a result of they modified long-held assumptions about the place a public system might place its cash. Pension funds pay advantages to retirees via a mixture of funding positive aspects and contributions from employers and staff. To make sure sufficient is saved, plans undertake long-term annual return assumptions to mission how a lot of their prices can be paid from earnings. These assumptions are at present round 7% for many funds.

There was a time when it was potential to hit that concentrate on—or larger—simply by shopping for and holding investment-grade bonds. Not anymore. The extremely low rates of interest imposed by central banks to stimulate development following the 2008-09 monetary disaster made that just about inconceivable, and shedding even just a few share factors of bond yield hindered the purpose of posting regular returns.

Pension officers and authorities leaders had been left with a vexing resolution. They may shut their funding gaps by decreasing advantages for current staff, chopping again public companies and elevating taxes to pay for the bulging obligations. Or, since these are all tough political decisions and courts have a tendency to dam any efforts to chop advantages, they may take extra funding threat. Many are selecting that possibility, including dollops of actual property and private-equity investments to the once-standard guess of bonds and shares.

This shift might repay, because it did in 2021. Beneficial properties from private-equity investments had been an enormous driver of historic returns for a lot of public programs within the 2021 fiscal yr. The efficiency helped enhance the combination funded ratio for state pension plans, or the extent of belongings relative to the quantity wanted to satisfy projected liabilities, to 85.5% for the yr via June, Wilshire mentioned. That was a rise of 15.4 share factors.

These bets, nevertheless, carry potential pitfalls if the market ought to fall. Illiquid belongings resembling personal fairness usually lock up cash for years or many years and are far more tough to promote throughout downturns, heightening the danger of a money emergency. Various belongings have tripped up cities, counties and states prior to now; Orange County famously filed for chapter in 1994 after losses of greater than $1.7 billion on dangerous derivatives that went bitter.

The heightened concentrate on various bets might additionally end in heftier administration charges. Funds pay about two-and-one-half share factors in charges on various belongings, almost 5 occasions what they pay to spend money on public markets, in response to analysis from retired funding marketing consultant Richard Ennis. Some funds, consequently, are avoiding various belongings altogether. One of many nation’s best-performing funds, the Tampa Firefighters and Police Officers Pension Fund, limits its investments to publicly traded shares and bonds. It earned 32% within the yr ending June 30.

It took some convincing for Mr. Majeed, who’s 68 years outdated, to change the funding mixture of the Faculty Workers Retirement System of Ohio after he turned its chief funding officer. When he arrived in 2012, there was a plan below technique to make investments 15% of the fund’s cash in one other kind of other asset: hedge funds. He mentioned he thought such funds produced lackluster returns and had been too costly. Altering that technique would require a feat of public pension diplomacy: Convincing board members to roll again their hedge-fund plan after which promote them on new investments in infrastructure initiatives resembling airports, pipelines and roads—all below the unforgiving highlight of public conferences. “It’s a tricky room to stroll into as a CIO,” mentioned fund trustee James Rossler Jr., an Ohio college system treasurer. It wasn’t Mr. Majeed’s first expertise with politicians and fractious boards.

He grew up in Sri Lanka because the son of a distinguished Sri Lanka Parliament member, and his preliminary funding job there was for the Nationwide Growth Financial institution of Sri Lanka. He needed to consider the feasibility of factories and tourism initiatives. He got here to the U.S. in 1987 along with his spouse, received an M.B.A. from Rutgers College and shortly migrated to the world of public pensions with jobs in Minneapolis, Ohio, California and Abu Dhabi. In Orange County, Calif., Mr. Majeed helped persuade the board of the Orange County Workers Retirement System to cut back its reliance on bonds and put more cash into equities—a problem heightened by the county’s 1994 chapter, which occurred earlier than he arrived.

His 2012 transfer to Ohio wasn’t Mr. Majeed’s first publicity to that state’s pension politics, both; he beforehand was the deputy director of investments for one more of the state’s retirement programs within the early 2000s. This time round, nevertheless, he was in cost. He mentioned he spent a number of months presenting the board with knowledge on how current hedge-fund investments had lagged behind expectations after which tallied up how a lot the fund paid in charges for these bets. “It was not a reasonably image at that time,” he mentioned, “and these paperwork are public.” Trustees listened. They lowered the hedge-fund goal to 10% and moved 5% into the real-estate portfolio the place it might be invested in infrastructure, as Mr. Majeed needed.

What cemented the board’s belief is that portfolio then earned annualized returns of 12.4% over the subsequent 5 years—greater than double the return of hedge funds over that interval. The board in February 2020 signed off on one other request from Mr. Majeed to place 5% of belongings in a brand new kind of other funding: personal loans made to corporations. “Again once I first received on the board, in case you would have instructed me we had been going to have a look at credit score, I might have instructed you there was no means that was going to occur,” Mr. Rossler mentioned. The private-loan guess paid off spectacularly the next month when determined corporations turned to non-public lenders amid market chaos sparked by the Covid-19 pandemic. Mr. Majeed mentioned he added loans to an airline firm, an plane engine producer and an early-childhood schooling firm impacted by the widespread shutdowns. For the yr ended June 30, the newly minted mortgage portfolio returned almost 18%, with greater than 7% of that coming in money the fund might use to pay advantages.

The system’s whole annualized return over 10 years rose to 9.15%, effectively above its 7% goal. These positive aspects closed the yawning hole between belongings available and guarantees made to retirees, however not utterly. Mr. Majeed estimates the fund has 74% of what it wants to satisfy future pension obligations, up from 63% when he arrived. Mr. Majeed is now eligible to attract a pension himself, however he mentioned he finds his job too absorbing to think about retirement simply but. What he is aware of is that the pressures forcing a cutthroat seek for larger returns will make his job—and that of whoever comes subsequent—exponentially tougher. “I believe it’s going to be very robust.”

By: Heather Gillers

Heather Gillers is a reporter on The Wall Street Journal’s investing team. She writes about pensions, municipal bonds and other public finance issues. She previously worked at the Chicago Tribune, the Indianapolis Star, and the (Aurora, Ill.) Beacon-News. She can be reached at (929) 384 3212 or heather.gillers@wsj.com.

Source: https://www.wsj.com/

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“Location Selector”. Willis Towers Watson. “Asset Management 2020 – A Brave New World” (PDF). Retrieved March 3, 2021. OECD For examples, see “Local Government Law Library”. Archived from the original on 6 September 2012. Retrieved 15 May 2011. “The 20 largest pension funds of the globe”. http://www.consultancy.uk. 27 October 2017. Retrieved 2018-03-11. [1] Top 100 Largest Public Pension Rankings by Total Assets Budget of the United States Government, FY2022, published May 28, 2021. Value as of September 30, 2020 Office of Management and Budget Retrieved June 13, 2021 Superannuation Statistics, March 2021. Value as of June 1, 2021. Retrieved June 1, 2021 2020年度第3四半期運用状況 GPIF “Annual Survey of Large Pension Funds and Public Pension Reserve Funds” (PDF). OECD. 2016-04-21. Retrieved 2016-10-28. Budget of the United States Government, FY2022, published May 28, 2021. Value as of September 30, 2020. Office of Management and Budget Retrieved June 13, 2021 Budget of the United States Government, FY2022, published May 28, 2021. Value as of September 30, 2020. Office of Management and Budget Retrieved June 13, 2021 Financial Statements of the Thrift Savings Fund December 31, 2020 and 2019. As of December 31, 2020. Thrift Savings Fund. Retrieved May 14, 2021 “Default”. Retrieved 2020-07-04. “CPP Fund Totals $317 Billion at 2017 Fiscal Year-End”. http://www.cppib.com. Retrieved 2018-02-24. “Page d’accueil”. Caisse de dépôt et placement du Québec | Investisseur institutionnel de long terme | Gestionnaire d’actif. “CalPERS Reports Preliminary 4.7% Investment Return for Fiscal Year 2019-20”. Retrieved 2021-03-03. “The world’s 300 largest pension funds – year end 2014”. Willis Towers Watson. “Performance – Ontario Teachers’ Pension Plan”. http://www.otpp.com. “Current Investment Portfolio – CalSTRS.com”. Retrieved 2021-03-03. https://www.pfzw.nl/over-ons/pers/paginas/kwartaalberichten.aspxhttp://www.emol.com/noticias/economia/2015/01/23/700604/donde-estan-invertidas-las-platas-de-los-trabajadores-en-chile.html Asher, Mukul (22 January 2021). “How the EPFO can improve as India’s largest social security provider”. Moneycontrol. “Annual Announcement of Financial Statements 2020”. “OMERS – 2020 Annual Report Highlights”. Retrieved 2021-03-03. Official WebSite of PREVI – English Version“STRS Ohio’s Impact”. “Assets Under Management & No.of Subscribers | NPS Trust”. “FRR 2012 Annual Report” (PDF). “NPRF”. Archived from the original on 2017-02-10. Retrieved 2020-05-03. “Choose an Industry SuperFund”. Industry Super. http://www.previ.com.br Official Website of PREVI “ΜΕΤΟΧΙΚΟ ΤΑΜΕΙΟ ΠΟΛΙΤΙΚΩΝ ΥΠΑΛΛΗΛΩΝ | Μ.Τ.Π.Υ.”“Official website of Mandatory Provident Fund Schemes Authority”. EPFPFRDA[2]Archived November 2, 2010, at the Wayback Machinehttp://www.csspp.rohttp://pio.rs/eng/“Armed Forces Pension Fund”. 29 USC § 1002 – Definitions | Title 29 – Labor | U.S. Code | LII / Legal Information Institute. Law.cornell.edu. Retrieved 2013-07-18. Federal Reserve Statistical Release, Financial Accounts of the United States, Fourth Quarter 2016Archived 2018-01-04 at the Wayback Machine, see pp.94-99. Values as of December 31, 2016. Federal Reserve Board of Governors. Reported March 9, 2017. Retrieved May 18, 2017

This Is What Long COVID Feels Like Fatigue Dizziness Brain Fog and Muscle Spasms

When the novel coronavirus began to spread across the world in February 2020, Freya Sawbridge was caught in a bind. The 27-year-old was living in Scotland, but when businesses and borders began to close she packed up and flew home to Auckland, New Zealand. On arrival, she felt feverish and couldn’t smell or taste food.

In those early months of COVID-19, every new symptom made global headlines. Freya got tested and the result came back positive. Panic began to set in.  “I was in the first wave,” she says.

“There weren’t many people that had had it by that stage, so I knew no-one could tell me anything about it, no-one could offer me any real guidance because it was a new disease.

“No-one can tell you anything about it or when it might end. You’re just existing in the unknown.”

Freya found herself on a vicious merry-go-round of symptoms — fever, sore throat, dizziness, muscle spasms, numbness, chest pains and fatigue. The symptoms kept coming around and around and around.

After 12 days, she stabilised, but four days later the pains returned with a vengeance. It would be a sign of things to come. Freya would relapse five more times over the next six months.

“Each relapse, the depth of it would last about 10 days and then I would take about four or five days emerging from it, have about two or three symptom-free days before another relapse would kick off,” Freya says. “The symptoms would come and then dissipate…

“I’d have a fever for an hour, a sore throat for four hours, then dizziness for two hours, then I was OK for an hour.

“…it was just a cycle like that.”

By April 2020, “long COVID” was being mentioned in Facebook support groups. It’s not an official medical term; it was coined out of necessity by the public. It’s sometimes also referred to as long-haul COVID, chronic COVID and post-acute sequelae of COVID-19 (PASC).

Exactly what constitutes long COVID remains extremely broad. Earlier this month, the World Health Organization released its clinical case definition of what it calls ‘post COVID-19 condition’, which affects people at least two months after a COVID-19 infection with symptoms that “cannot be explained by an alternative diagnosis”.

For Freya, symptoms like chest pain and a sore throat were manageable, but the dizziness and “brain pain” she experienced were debilitating. “It’s as if there was like a mini person in my brain and he was scraping my whole brain with a rake, it was just pain,” Freya says.

“And then it would feel like it would flip on itself continuously and so it makes it really hard to sleep because you’re lying there and it feels like your brain is doing somersaults and then it’s also spinning.”

The memory loss was especially unnerving. “Heaps of people say, ‘Oh, I get that and I’m young,’ but it just feels different… you’d be mid-sentence and then completely forget what you’re talking about.”

Doctors couldn’t give Freya any clarity about what was happening to her because the reality was no-one knew enough about COVID-19.

The hardest was month four, when Freya ended up in hospital from her long COVID symptoms. In a journal entry dated August 24, 2020, she wrote: “Must stay hopeful. Must believe I will get better.” After so many relapses, she had fallen into a depression filled with grief, for her healthy body and her old life.

To this day, we still know very little about long COVID, including just how many people it affects.

Various studies over the past 18 months estimate long COVID can affect anywhere from 2.3 per cent to 76 per cent of COVID-19 cases. It’s important to remember these studies vary in method, with some tracking only hospitalised cases and some relying on self-reported surveys.

A comprehensive study by the University of NSW places the figure at around 5 per cent. Researchers tracked 94 per cent of all COVID-19 cases in NSW from January to May 2020. Of the 3,000 people surveyed, 4.8 per cent still had symptoms after three months.

The uncertainty doesn’t end there. We also have no idea why long COVID hits certain people, but not others. It’s been likened to a kind of “Russian roulette”.

Studies have consistently found long COVID to be more prevalent in women, older people and those with underlying conditions, but there’s evidence to indicate children are capable of developing long COVID too.

Being young and fit is no guarantee you’re safe either, and nor is having a minor initial COVID case. The longer-term symptoms can strike even those who had few initial symptoms.

Those with long COVID report a constellation of symptoms including fatigue, dizziness, shortness of breath, brain fog, memory loss, loss of taste and smell, numbness, muscle spasms and irritable bowels.

One of Australia’s leading researchers in the area, Professor Gail Matthews, says long COVID is likely a spectrum of different pathologies.

Dr Matthews is the Head of Infectious Diseases at St Vincent’s Hospital and Head of the Therapeutic Vaccine and Research Program at the Kirby Institute at UNSW. She says the issue of long COVID will be huge on a global scale and it’s crucial to understand it better.

One theory is that COVID-19 can trigger the immune system to behave in an abnormal way, releasing cytokines that can make you feel unwell with fatigue and other symptoms.

Another is that there could be some elements of the virus — called antigen persistence — somewhere in the body that continues to trigger an ongoing activation in the immune system.

There’s also early evidence that vaccination might help reduce or even prevent long-term symptoms. Freya stopped relapsing around month seven, although her senses of taste and smell still haven’t fully recovered. She says rest was a big part of her recovery.

“Other people, if they don’t have parental support, or they have to work because they’ve got no savings, or they can’t rely on their parents, or they have young kids — I have no idea how they got through it, because it would have been impossible in my eyes,” Freya says.

Judy Li is in an impossible situation. An all-encompassing fatigue has taken hold of her mind and body, stripping away her ability to work, parent or plan for the future.

The 37-year-old got COVID-19 in March 2020 while an inpatient at a Melbourne hospital. She had been struggling after giving birth to her second child and was getting the help she needed.

Despite her anxieties, Judy’s case was very mild and it wasn’t until three months later when her three-year-old brought a bug home from day care that she realised something was wrong.

As day-care bugs so often do, it ripped through the young family. “It felt like I hit a brick wall, I was a lot worse than everyone else,” Judy says.

“It wasn’t the usual symptoms… I was just really lethargic, really fatigued and I remember at about the three-week mark of having those symptoms, that kind of fatigue, I thought, ‘this isn’t right, this is a bit odd.’”

Her fatigue is not like being tired, it’s a different kind of exhaustion, a severe lack of energy that doesn’t replenish after sleep.

“This is like something you feel in your limbs; you feel like they’re really heavy, they’ve got this kind of, I wouldn’t say ouch-kind of pain, but it’s sort of an achiness to your limbs,” she says.

The fatigue comes and goes, but Judy has noticed it can flare up when she gets sick or when she expends herself physically or mentally.

One of the worst episodes came after an eight-hour trip to Canberra for Christmas to visit her in-laws. “I woke up and I was completely paralysed,” Judy says. Distressed, in tears, she could only call out to her partner for help.

“I just did not have the strength to move my limbs and I kept trying and trying and trying and eventually he helped me up. “I sort of dragged my arm up, I could barely hold a glass of water and he’d help me to drink out of it. If I had to go to the toilet, he had to basically carry me.”

This fatigue has derailed Judy’s life because when it sets in, she never knows how long it’s going to last or whether it will go away.  It makes work and parenting impossible. Judy’s two young children don’t understand what’s wrong with mum or why she can’t get out of bed.

“When the kids are crying at home, I can’t go and soothe them,” she says.

“This is not a lack of motivation, it’s like I want to get up and I want to go to my children.

“I want to get up, I’ve got work I need to do. I want to get up and even go get something to eat, I’m hungry, but I can’t actually tell my body to move in that way.”

Fatigue or post-exertional malaise is one of the most common symptoms of long COVID, but it’s also a very common symptom in myalgic encephalomyelitis or chronic fatigue syndrome (ME/CFS), a biological disease affecting an estimated 250,000 Australians.

There are striking similarities between long COVID and ME/CFS. Both can cause symptoms such as fatigue, dizziness, memory loss or ‘brain fog’, and irritable bowel, and both are likely to encompass a range of different pathologies.

ME/CFS is usually triggered by a viral infection — ebola, dengue fever, glandular fever, epstein barr, ross river virus, SARS and even the more common influenza have all left trails of chronically ill people in their wake.

Experts have even questioned whether long COVID could be ME/CFS by another name, although the jury is still out on that theory. ME/CFS has been around for decades but we still don’t know much about it.

Australian advocacy groups desperately want to see more research and support to help people with this chronic illness navigate medical, financial and accommodation services. They also say doctors need better education to diagnose and treat the condition early on.

Bronwyn Caldwell knows what it’s like to live with a condition that no-one understands or knows how to treat. She’s lived with ME/CFS for 20 years, ever since a suspected case of glandular fever in her 20s.

The 46-year-old from South Australia is adamant the early advice from her doctor to rest was the reason her condition didn’t immediately worsen. She was able to work part-time as a brewer up until 2013 but a relapse has left her mostly bed-bound.

Bronwyn considers herself lucky — her illness was validated by doctors and family, she doesn’t have cognitive difficulties and isn’t in pain. But her voice begins to break when mentioning that most people with ME/CFS face stigma that they’re being lazy or faking their illness.

“I can’t imagine what it’s really like to have everyone in your life say you’re just being lazy, because the reality is all of us beat ourselves up to that all the time,” she says.

A 2018 study published in the Journal of Health Psychology looking at links between people with chronic illness and suicidal ideation found stigma, misunderstanding and unwarranted advice exacerbates patients’ feelings of overall hopelessness.

Long COVID is creating a cohort of people vulnerable to the same thing, and Judy herself has sometimes wondered whether her family would be better off without her (which, of course, it wouldn’t).

“I honestly go through periods where I wish COVID had killed me instead of just left me with this, this big burden,” she says. With no sick leave left, Judy has had to take unpaid time off work.

It’s a big blow for the high-earning, career-driven project manager who took pride in handling stressful situations and juggling multiple tasks. These days, her mind doesn’t work like it used to.

“It’s just little things like struggling to find the word that I just knew… I would know… sorry… like being able to construct sentences,” she says with an ironic laugh.

“I can try to read something but it just seems like I have to read it over and over and over again. “I frequently walk into a room and can’t remember why, when I would put something down, seriously, two minutes later I have no idea where it is. “I just feel like I’m losing my mind.”

In the COVID-ravaged UK, daily cases peaked at more than 68,000 and daily deaths at more than 1,300. It’s a situation few in Australia — where we have enjoyed long periods of little-to-no community transmission — can fully appreciate.

Adam Attia was living in London through most of 2020 and says it was almost rare if you hadn’t had COVID-19. “I’ve known of people that had given it to their parents and it killed their parents,” the 30-year-old Australian says. “People that we knew on our street had passed away.”

So one day around August, when Adam couldn’t taste the wasabi on his sushi, he immediately knew what was wrong. “I just started to go through the kitchen for things like garlic — I had a whole garlic, I couldn’t taste anything. I ate a lemon like an apple and couldn’t taste a thing.

“I ate ginger like a cannibal, like I ate it with all of the bumps and things on it and couldn’t taste a thing.”

But Adam’s infection was mild and he spent his 10-day isolation staying active. Life went on as normal until three months later, after a trip to Croatia. On the flight back to London, somewhere above Germany, Adam felt an excruciating pain in his stomach. He felt like he was going to vomit, he couldn’t breathe and his head began to spin.

The flight crew didn’t know what to do, contemplating an emergency landing in Berlin while Adam desperately sucked air from a vent they’d given to help him breathe.

The flight managed to land in London and Adam was escorted off the plane. At the hospital, doctors ran tests for internal bleeding and signs of reflux or gastritis but they all turned up empty.

In the weeks and months after that flight, as little as two hours of work would leave Adam shattered and disorientated.

His symptoms are like dominoes. Exhaustion leads to stomach pain, which leads to nausea, faintness and breathlessness.

Adam has learned to manage his symptoms and as soon as he feels the exhaustion creeping in he takes an anti-nausea pill, uses the asthma puffer he now has to carry with him and finds somewhere to lie down.

He ended up moving back to Australia to sort out his health issues, but it wasn’t until a doctor at St George Hospital in Sydney mentioned Adam’s symptoms could be an effect of COVID-19 that he twigged.

“Is it from COVID? Look, I could be shooting in the dark, I don’t actually know,” Adam says. “But what I do know is I didn’t have these [symptoms] before COVID, so I guess it’s more of an educated guess.”

Much about long COVID remains exactly that. More research is needed to really know what’s going on.

The US and UK have allocated billions of dollars into research and set up long COVID clinics to help patients find the right treatment. The Australian government has provided $15 million for research grants into the long-term health effects of COVID-19 and the nation’s vaccination efforts through the Medical Research Future Fund.

As Australia moves beyond lockdowns towards a future where most Australians are vaccinated, borders are open and COVID-19 is actively spreading through communities, this research will be crucial in our understanding of the long-term health issues and the impact on individuals, families, workplaces and the economy.

For now, Dr Matthews says the biggest take-home is that we don’t know who is or isn’t susceptible to long COVID.

“One of the biggest messages is that it’s very hard to know who this will strike.”

Health officials in Victoria have already highlighted the plight of long COVID patients as part of their drive to encourage more people to get vaccinated, as experts say it probably can prevent long COVID.

Dr Matthews says it’s important Australia recognises long COVID as a real issue and makes sure there is appropriate support to help people.

“Even if it’s just an understanding that this condition exists, and recognition that it exists, as opposed to expecting these people to return to full health,” she says.

But until we know more, those like Freya, Judy and Adam won’t have the closure of knowing exactly what’s happened to them.

“It’s hard to wrap your head around,” Judy says, “to say this is potentially a life sentence”. “There’s no defining this is as bad as it gets, you know?  “This is just the big mystery question mark.”

By:  Emily Sakzewski, Georgina Piper, and Colin Gourlay

Source: This is what long COVID feels like — fatigue, dizziness, brain fog and muscle spasms – ABC News

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“March 24 Update on NASA Response to Coronavirus – Administrator Jim Bridenstine”. blogs.nasa.gov. Archived

3 Things To Know Before You Arm Your Employees With Fitness Trackers

Even the most seasoned and well-adjusted remote workers know the risk: If you’re not careful, working from home can bring your physical activity to a standstill.

Employers know this too. Increasingly, they are looking for ways to bolster their wellness programs by offering fitness trackers, such as those made by Fitbit, Garmin, and Amazon, to help employees log more movement during the day. Another popular option called Oura makes smart rings that can track sleep, fitness, temperature, and even signs of illness. An Oura dashboard even lets employers view the likelihood of illness across their entire workforce.

Employees who log a certain amount of physical activity can then receive insurance discounts through many major health insurance companies, such as UnitedHealth Group, Blue Cross Blue Shield, Cigna, and Aetna. Beneficiaries can get reimbursed for prescription co-pays and other health care costs under their deductibles.

But fitness trackers in the workplace, and health surveillance in general, also carry considerable privacy risks. More than 60 million records from Fitbit, Apple, and other companies were compromised in June after a data breach on GetHealth, a third-party group that provides employee fitness incentives.

Data breaches of fitness trackers like Strava have revealed personal details such as the name and location of participants, even in anonymized data. Security risks aside, you may not even want to have so many personal details about your employees at your fingertips. After all, constant surveillance won’t exactly put your team at ease.

Before offering fitness trackers to your employees, here are a few things you should keep in mind:

1. Fitness trackers will save you money on premiums, for now.

Workplace fitness-tracker programs often offer discounts on insurance premiums if employees meet certain fitness goals. Some employees can earn as much as $1,500 a year they can apply toward their health insurance premiums. Workers can get free or discounted wearables, workout clothing, and even gym equipment. On the employer side, a few studies have shown that fitness trackers can help you save money on premiums. But some companies have reported that their insurance costs have remained the same.

At present, there are no laws or regulations in place to stop insurers from using fitness-tracker data to raise premiums. In an article published in The Journal of the American Medical Association, researchers from the AMA raised concerns that such data could increase insurance premiums for some groups.

“Wearables can collect information on physical activity, calorie intake, blood pressure, and weight. Insurance companies are now using this data for rewards programs, but there are no regulations stopping them from doing the opposite,” wrote the authors.

2. The data your employees share isn’t protected by HIPAA.

Health care providers and health insurers are barred from sharing any patient information by HIPAA, the Health Insurance Portability and Accountability Act. But that ban doesn’t extend to Google, Apple, or any private companies through which employees elect to share their health care data. As The Wall Street Journal reports, there’s nothing under HIPAA that would bar third-party companies from analyzing or selling the health care data users voluntarily give up.

If you’re looking to adopt fitness-tracker programs, read up on the device-maker’s privacy policies and be prepared to answer questions from employees. You will have the added responsibility of explaining to workers how much access your own company has to their data, and how it’s being used. Workers need to understand that you will not be using data from the fitness trackers against them, and are under no obligation to sign up for the program.

3. The research on fitness-tracker effectiveness is mixed.

For some people, wearing a device that tracks their activity levels is enough of a reason to get off the sofa. But changing health habits permanently requires a lot more effort. One study published in The Lancet from researchers at the Duke-NUS Medical School found that wearing an activity tracker, along with a cash incentive, improved the fitness levels of employees.

But after the cash incentive was discontinued after six months, employees didn’t maintain their previous fitness levels. The study also compared employees who wore fitness trackers with those who did not, and found no real difference in the amount of activity performed.

But a number of other studies indicate that fitness trackers do help increase activity levels, either by small or moderate amounts. In one analysis of 28 studies with more than 7,000 participants published in the British Journal of Sports Medicine, researchers found that those with fitness trackers were more physically active than those in groups without. Added features like setting personal goals and text reminders were the most effective in getting people to exercise.

If your company chooses to enroll in a fitness-tracker program, keep in mind that you’re unlikely to entice all of your employees to adopt it. If you want to help improve the health of workers, you can also try methods like subsidized gym memberships, healthy food choices at work, or reimbursement for fitness equipment. While fitness trackers can certainly play a role in improving health outcomes, they are just one tool. Substantive lifestyle changes, including good nutrition, sleep, and fitness, also are required.

Correction: An earlier version of this article incorrectly stated that the fitness tracker Strava had a data breach that revealed personal details such as the name and location of participants, including in anonymized data. According to Strava spokesman, the company has never had a data breach.

By Amrita Khalid, Staff writer@askhalid

Source: 3 Things to Know Before You Arm Your Employees With Fitness Trackers | Inc.com

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Related Contents:

Böhm, B; Karwiese, SD; Böhm, H; Oberhoffer, R (30 April 2019). “Effects of Mobile Health Including Wearable Activity Trackers to Increase Physical Activity Outcomes Among Healthy Children and Adolescents: Systematic Review”. JMIR mHealth and uHealth. 7 (4): e8298. doi:10.2196/mhealth.8298. PMC 6658241. PMID 31038460.

 

How To Cope With An Existential Crisis

Are you exhausted from rushing through life doing the same monotonous things over and over again? Perhaps those things that were once meaningful now seem vacuous, and the passion has burned out. Do you feel that pleasures are short-lived and ultimately disappointing, that your life is a series of fragments punctuated with occasional ecstasies that flare up and then, like a firework, fade into darkness and despair? Perhaps you are lonely or pine for past loves. Or you feel empty and lost in the world, or nauseous and sleep-deprived.

Maybe you are still looking for a reason to live, or you have too many confused reasons, or you have forgotten what your reasons are. Congratulations – you’re having an existential crisis. Sometimes, the questions ‘Why am I here?’ and ‘What’s it all for?’ haunt you gently like a soft wingbeat with barely a whisper, but sometimes they can feel as if they are asphyxiating your entire being.

Whatever form your existential crisis takes, the problem, as the Danish philosopher Søren Kierkegaard (1813-55) saw it, was that living without passion amounts to not existing at all. And that’s bad for all of us because, without passion, rampant waves of negativity poison the world. Kierkegaard thought that one of the roots of this problem of a world without passion is that too many people – his contemporaries but, by extension, we too – are alienated from a society that overemphasises objectivity and ‘results’ (profits, productivity, outcomes, efficiency) at the expense of personal, passionate, subjective human experiences.

In his journal, Kierkegaard wrote: ‘What I really need is to be clear about what I am to do, not what I must know … the thing is to find a truth which is truth for me, to find the idea for which I am willing to live and die.’ Finding this truth, this passion, was what Kierkegaard thought could unite an existence, overcome melancholia, and help you to become more fulfilled. Kierkegaard had some ideas about how to harness the anguish of what we have come to think of as an existential crisis. Reading Kierkegaard won’t necessarily solve all problems, but it can help you understand some of the sources of your malaise and to see new possibilities for your life.

Sometimes, Kierkegaard is called the first existential philosopher because of his emphasis on the individual and subjective experience. Existential philosophers stress freedom of choice and responsibility for the consequences of your choices, and certainly one of the quintessential existentialist philosophers, Jean-Paul Sartre (1905-80), found this vein of thinking in Kierkegaard’s writing. For existentialists, it’s up to you to decide the kind of person you want to be and how to live your life meaningfully.

But these choices leaven despair because of the pressure that comes when you realise you’re free and responsible and have no one else to blame, no excuses for your behaviour. Anxiety, or despair, Kierkegaard wrote, is the ‘dizziness of freedom’. Despair is a kind of vertigo we get when overwhelmed with possibilities and choices. Kierkegaard described it as a similar feeling to standing on the edge of an abyss. You might be afraid of falling, but anxious when you realise that jumping is a possibility.

We are forced to make choices all the time, whether we like it or not. Consider toothpaste: there are so many types and it’s difficult to choose the one that’s best for your teeth. Whitening or stain-removal? Cavity protection, anti-plaque or enamel repair? What’s the difference? Why isn’t there one that does everything? It’s hard to know what the outcome of choosing one over the other will be. While choosing the wrong toothpaste probably won’t devastate your life, when you face more profound choices –

Such as what to study at college, whom to marry, whether to end a relationship, which career to pursue, whether to try to save someone who is drowning, if you should turn off a loved one’s life-support system – the closer you come to the edge of the abyss, the dizzier you will feel about your possibilities and responsibilities. Sometimes you live in ignorant bliss about your options but, once you become aware of them, wooziness is inevitable. As Kierkegaard wrote in The Concept of Anxiety (1844):

He whose eye happens to look down into the yawning abyss becomes dizzy. But what is the reason for this? It is just as much in his own eye as in the abyss, for suppose he had not looked down.

Sometimes, the dizziness of your freedom is so overwhelming that you might feel compelled to step back, to shrink from making a choice. Making no choice, or letting someone else choose for you, can feel easier. The greater the stakes, the deeper the abyss, and the further you have to fall if you misstep. But your personal growth depends on your ability to handle big choices yourself and not to shirk them. For Kierkegaard, bravely facing up to our choices and learning to channel our anxiety in constructive ways is vital: ‘Whoever has learned to be anxious in the right way has learned the ultimate.’

During his lifetime, Kierkegaard made authorities nervous because he was an iconoclast who encouraged people to think for themselves. He challenged readers to break themselves free from the brainwashing of churches and community groups that preached what to do and what to believe, particularly the Lutheran Church of Denmark, with which he was at loggerheads for much of his later life. Kierkegaard also might have been deeply suspicious of today’s social media and advertising that tells us where to spend our money and time in the elusive pursuit of happiness. In a criticism that seems to have pre-empted online trolls, he proposed that ‘the crowd’ or the public is ‘untruth’ because it enables people to be anonymous, irresponsible, cowardly, and creates an impersonal atmosphere.

Kierkegaard was a Christian, ‘albeit a maverick Christian’, as the philosopher Gary Cox put it, because Kierkegaard emboldened people to develop a personal relationship with God instead of unreflectively assuming what the clergy sermonised. For Kierkegaard, living the truth is infinitely more important than objectively knowing it. At Kierkegaard’s funeral, the archdeacon who gave the eulogy told the huge crowd not to misunderstand or accept what Kierkegaard had written because he went too far and didn’t know it.

But you don’t need to be religious to glean practical wisdom from Kierkegaard’s work. He inspired many atheist philosophers. Sartre, as I’ve mentioned, deeply admired Kierkegaard. He called him an ‘anti-philosopher’ because Kierkegaard sought ‘a first beginning’ by pushing back against boring and abstract philosophies, such as G W F Hegel’s and Immanuel Kant’s, which were very popular during Kierkegaard’s time.

Kierkegaard wrote in unconventional ways. He was witty and came up with quirky pseudonyms such as ‘Hilarius Bookbinder’. Kierkegaard wrote pseudonymously not because he wanted to hide his authorship – pretty much everyone knew which books he’d authored – but to distance himself from his work; to challenge us to question the ideas he presents; to take responsibility for interpreting the text’s meaning; to inspire us to come to our own conclusions; and to create our own subjective truths. The strategy is called ‘indirect communication’. The effect of Kierkegaard’s work is that, instead of dictating and moralizing, he provokes – because you can’t tell if he’s being serious or not – and invites readers to dance with ideas.

Kierkegaard uses indirect communication in one of his most famous works, Either/Or (1843), a fictional collection of letters and essays written by different characters and presenting different points of view: aesthetic, ethical, and religious. These three views, or phases, provide a possible framework for how to endure and overcome an existential crisis. The phases are not rigid steps, but rather offer a scaffolding of possible experiences on an existential journey to reinvigorate our passion for life.

Think it through

Enjoy the aesthetic elements of your life

Kierkegaard suggested that the first mode of living is the aesthetic sphere. Aesthetic living is fun and impulsive, focused on sensual satisfaction, like a child who is discovering the world with awe and wonder. The aesthetic sphere is a beautiful phase of life, passionate and sparkling with possibilities. Consider the thrill of falling in love, the delight of seeing your all-time favourite musician live in concert, the elation of sharing a delicious bottle of wine or meal with a good friend, or the exhilaration of skinny-dipping on a whim. These experiences can be intoxicating, extraordinarily interesting, and make you feel like your life is transformed if you submit to them.

Don Giovanni – the protagonist of Mozart’s opera Don Giovanni (1787), a legendary seducer who is also sometimes known as Don Juan – is, Kierkegaard suggested, the ultimate archetype of the aesthetic mode because he lives for immediate sexual gratification and sensuality. Don Giovanni is a player. He is handsome, seductive and exciting. Women find him irresistible: he has slept with more than 2,000 women whose names he records in his not-so-little black book. Don Giovanni seeks pleasure above all else, and dances through his hedonistic life.

How can you live aesthetically? Make your life as interesting and enjoyable as possible. Fall in love a lot. Rotate crops – meaning that, if you’re bored with your life, don’t be afraid to leave behind what doesn’t serve you and start planting seeds for fresh projects and new relationships that energize you. Be impulsive. Live for and in the moment. Cultivate arbitrariness for the sheer pleasure of it: go to the theatre but watch only the middle of the performance; pick up a book and read a random passage. Enjoy experiences in disruptive ways, different than what others are spoon-feeding you. Practise the art of remembering the joys of your past. Practise the art of forgetting unpleasantness by focusing on the silver linings of your misfortunes. Burn the candle of your life at both ends.

Make existential commitments to live ethically

However, an aesthete’s actions can be self-sabotaging, because, as Kierkegaard pseudonymously writes:

As when one skims a stone over the surface of the water, it skips lightly for a time, but as soon as it stops skipping, instantly sinks down into the depths, that is how Don Giovanni dances over the abyss, jubilant in his brief respite.

Don Giovanni gets his comeuppance in the end when a ghost in the form of a statue of the Commendatore, the father of one of his conquests and a man whom Don Giovanni has killed in a fight, drags him down to hell. You might not be dragged to hell by a ghost, but living purely in the aesthetic mode – though it might offer temporary respite – puts you on the fast track to a further existential crisis.

Why is this? The answer is that the aesthetic lifestyle demands a high price. Aesthetic living can be a source of existential despair when you become overly dependent on its distractions to fill the voids in your life. The aesthetic mode is dangerous when you live in a state of immediacy and instant gratification, constantly overindulging in such pleasures as social media scrolling, shopping, television, busyness, alcohol, drugs, serial romancing or casual sex. At a certain point, these activities cease to offer the enjoyment they promise, and the world turns grey.

Wallowing in such distractions only entrenches your alienation more deeply and pushes you more squarely into dungeons of unhappiness. As soon as you’ve satisfied one pleasure, you’re chasing the dragon of newness for the next high. Sometimes you’re so excited about taking risks on new possibilities, so in love with starting new projects and relationships, that you’re constantly flitting from one to the next, never finishing anything. Constantly on the move, you are like an ocean wave, surging powerfully, cyclically, with raw primal energy.

But waves froth and fizzle away indefinitely. If you’re constantly and busily churning through life, your existence amounts to a sum of moments without any real cohesion. Excitement fades and leaves in its wake disappointment and loneliness. The aesthete in Either/Or is envious of insects that die after copulation because they are able to indulge in the pinnacle of sexual ecstasy and then escape life’s greatest anticlimax – the ‘petite mort’ becomes a real one. An aesthetic life will inevitably leave you morbidly tired.

Kierkegaard’s aesthete is plagued with such soul-crushing tedium and torturous despair that he is numb. Because he isn’t truly engaged in life, he lives as if he were dead. Living void of passion makes him feel both chained by his anxieties and also cast adrift, like a spider plunging and flailing around, unable to grasp hold of anything:

What is to come? What does the future hold? I don’t know, I have no idea. When from a fixed point a spider plunges down as is its nature, it sees always before it an empty space in which it cannot find a footing however much it flounders. That is how it is with me: always an empty space before me, what drives me on is a result that lies behind me. This life is back-to-front and terrible, unendurable.

So if living aesthetically can only be a short-term solution to an existential crisis, how can you go beyond that and live ethically? Stop skimming over life like that stone. Slow down and do what you can to carve out pockets of time for reflection. Cultivate the space to become less robotic. And stop using aesthetic activities as a distraction from facing up to your existential despair.

‘Despair!’ Kierkegaard’s pseudonym writes. Despair is the entry price for transitioning from the aesthetic to the ethical sphere. Learning to love despair is an adventure in moving to a higher mode of self-development. Don’t hide from your existential crisis because choosing despair means choosing yourself. To cosy up to your despair is to choose against being beholden to your animalistic, aesthetic impulses, and towards becoming a definite and solidly grounded individual. Choosing yourself means making meaningful commitments, such as dedicating yourself to a vocation. It means setting goals and sticking to them. Dodging commitment means you’re simply hovering over life, not truly living, and as empty of substance as those waves.

To choose despair also means to choose humanity. In the ethical mode, you recognize that you live in a world with other people, that they matter, and that every choice you make must reflect a responsibility towards them. You act with honesty, open-heartedness, understanding and generosity. You focus more on what you can give to others and less on what you’re getting out of them. To cultivate your humanity, go people-watching for an hour and consider the beauty in each individual. Appreciate every person you meet in their particularity – their tasks, challenges and triumphs. Join a club and build a community of friends. Act more charitably. Help people. Commit to making the world better for others.

Choosing this kind of despair also prepares you for marriage in a way that a life of seeking sensual gratification is unlikely to. Getting married – ideally to your first love, in Kierkegaard’s analysis – reflects an ethical decision because marriage is a serious, definitive and life-changing choice. Marriage calls for a more sophisticated awareness of your existence than a life driven purely by sexual instincts. Sure, you can always get divorced, but Kierkegaard’s ethicist suggests getting married helps people take love more seriously than an aesthete would, by focusing on creating a relationship that’s stable and constant. In the ethical sphere, you actively rejuvenate the love with your partner, instead of skipping to the next relationship for thrills and a confidence boost as soon as your first one gets tough.

Face your existential abyss bravely because, Kierkegaard suggested: ‘Anxiety is the organ through which the subject appropriates sorrow and assimilates it,’ and ‘indeed I would say that it is only when the individual has the tragic that he becomes happy.’ The key to the ethical sphere is to use your despair to galvanise you to overcome your sorry dark states, refresh your enthusiasm for living, and arouse your appetite for something more meaningful in your life.

You develop yourself by being patient with existence, seeing the beauty in stability, and recognising that you are your own source of happiness and creativity. You don’t need to seek excitement constantly from new external stimuli as the aesthete does. You don’t need a dance floor to dance, to enjoy life; your dance floor is inside of you, wherever you are. You nurture the ethical attitude by living intentionally (not accidentally, like the aesthete), and living each day as if it were your Judgment Day.

Leap to faith

The ethical mode can help stabilise you, but it might not be enough to resolve your existential crisis. Living ethically might even be another source of existential calamity because fulfilling your social duties can be onerous. Kierkegaard’s ethicist says of the duty of marriage: ‘Its uniformity, its total uneventfulness, its incessant vacuity, which is death and worse than death.’ Marriage doesn’t make love stay. People change and break promises, making any commitment insecure. Given how many other people are unjust and immoral, being ethical might also throw you deeper into despair. And sinking too heavily into reflection can thwart your enjoyment of life. Philosophers tend to be guilty of overthinking, and Kierkegaard’s aesthete quips: ‘What seems so difficult to philosophy and the philosophers is to stop.’

The only way truly to conquer an existential crisis is with a leap. A leap is what Kierkegaard calls an ‘inward deepening’, which recognises that the world is uncertain, but you can make a bold choice about the kind of life you want to lead. A leap is beyond the realm of feelings (aesthetic sphere) and commitments (ethical sphere). A leap is an act of will to transform your life. It’s the decision to design an existence to which you can enthusiastically devote yourself and that will uplift and sustain your being.

Kierkegaard’s leap was guided by the commandment to ‘love thy neighbour’. In Works of Love (1847), written under Kierkegaard’s real name, he proposes that universal love, or agapē, is the secret to happiness because it overcomes the fleetingness and insecurity of aesthetic and ethical relationships. Love is Ariadne’s thread of life because, as long as you love, as long as you commit yourself to being a loving person, you’ll be safe from being hurt and alone. Kierkegaard thought that this sort of unwavering faith reflects a supremely developed human being.

Perhaps you live in the aesthetic or ethical modes of life, and you’re perfectly happy and see no need to leap. Or perhaps you inhabit these realms and find comfort in your melancholy. But the rub with existential despair is that, once you have caught a glimpse of it, intentionally or not, it’s extraordinarily difficult to unsee it. If that’s you, Kierkegaard’s ideas might be a way to help you find your footing. But the only thing that will alleviate an existential crisis is to find the truth that is true for you, the subjective truth, the propulsion to leap that lies in the innermost depths of your heart. If you’re not sure what your subjective truth is, Kierkegaard suggested: ‘Ask yourself and keep on asking until you find the answer.’

Ultimately, though, a passionately lived life isn’t about an either/or choice. You can’t be all frivolous or all serious all the time. A fulfilling life is about enjoyment and ethical commitment and leaping. Your life needs some of the sort of energy, pleasures and possibilities that Don Giovanni’s life exhibits (though not necessarily indulging these in the ways he does), otherwise the world would be very dull. And the world is boring without him. You also need something of the ethical: you need to acknowledge how your choices affect other people and to take responsibility for your actions, otherwise you’ll end up alone and sad.

You also need a leap to find that thing that you can devote yourself to that unites the splinters of your life, even if, for you, that isn’t a leap into religious faith. The point is to see these different dimensions of life, the ruts you might be falling into, the potential sources of ennui and malaise that stem from the way you live your life. But, ultimately, it’s up to you to choose how you juggle these spheres and how you spark your own fire to bind the fragments of your life together into a coherent synthesis. That’s the point. It’s for you to shape your life.

By: Skye C Cleary

Skye C Cleary is the author of Existentialism and Romantic Love (2015) and co-editor of How to Live a Good Life (2020). She teaches at Columbia University, Barnard College and the City University of New York. Her next book, How to Be Authentic: Simone de Beauvoir and the Quest for Fulfillment, is forthcoming in 2022.

Source: How to cope with an existential crisis | Psyche Guides

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Related Crisis:

The 10 Commandments of Salary Negotiation

The largest salary increase I’ve helped get was for a female FAANG executive: I helped her get $5.4M more on her offer. Through the process, it struck me that even though she was a senior leader everyone admired (you’d 100% know of her if I told you her name), she had very little knowledge of how to negotiate. Don’t get me wrong — she knew how to ask and be assertive, but she was much less comfortable “playing the game.”

And she’s not alone.

Regardless of how senior or junior you are, most tech folks struggle with negotiation. Partially this is because compensation is set up to be intentionally misleading. Partially it’s because sticking up for yourself is nerve-racking AF.

Here are the 10 commandments to negotiation I wish everyone knew:

1. Negotiation starts earlier than you think

Every recruiter worth their salt will ask about your salary expectations when you first start interviewing. Do not — I repeat, do not — give them a number.

What to do instead: Ask for the range they’re budgeted for the role.

How to say it: “Can you tell me the salary band for this level? Happy to let you know if it’s within my range, and we can discuss specific numbers later when I’ve met the team.”

Bonus points: If you’re junior/mid, time all your interviews so you get offers around the same time. If you’re senior, get some press before you start meeting folks.

2. Mine for intel during interviews

Go into the interview ready not just to answer questions but to ask some of your own. You will use this as ammunition to negotiate later. Here are a few examples of what you should ask:

  • What’s the biggest priority for the team right now?
  • Why is this role open?
  • What’s the biggest challenge for someone stepping into this role?
  • How does the org structure on the team work?

3. Don’t give in to the pressure

Once you’ve been offered the role, the recruiter’s job shifts from evaluating you to closing you. Most experienced recruiters will ask you again to put up a number for your salary. Clever recruiters may even tell you that they “will go to bat for you.” Yeah, no thanks.

What recruiters say: “If you give me your number, I will make it happen for you.”

What they mean: “I’ll get you something lower, but kinda close to what you asked for.”

4. At FAANG, your recruiter may have no say at all

At FAANG-size companies (i.e. over 5K employees), compensation is heavily formulaic. In fact, there is often a separate team — the “compensation committee” — who sets your salary. They take into account your background, interview performance, and level. They give the recruiter a number to go with. The recruiter then gives you the number, and every time you negotiate they have to go back to that committee to ask for a re-evaluation.

What do clever recruiters do? They get your number up-front to save some legwork.

Unfortunately, this may hurt your chances of getting more on your offer later. It also deprives you of some valuable data — where you fall in the level/salary band. If you get caught in this loop, quickly turn the tables: most companies will consider “new information,” like another offer, to reopen a negotiation. Don’t forget, an offer to stay from your existing company also counts!

5. Read between the lines

Your initial offer speaks volumes, if you know how to interpret the data. Here are a few scenarios you should consider:

Let’s say you’re applying for an L6 role at a big company.

Initial offer comes in low: The team may have felt that you have a lot of “room for growth.” In this case, my advice is to dig deeper and ask the interviewer to share feedback from folks who met you to fix any misconceptions before you ever negotiate. Telling someone you want more money because you’re “the greatest PM ever” while the team felt you were “meh” is not going to fly.

Middle of the road: You got “the number” (the medium opening number that’s basically a template recruiters use). It’s the most common opening offer — companies do this to reduce risk of lawsuits. Over 80% of people get it. It likely means you don’t have a strong advocate on the interview loop. Do not negotiate until you match with a team and you have a manager batting for you.

Initial offer comes in top-of-band: There was likely a discussion about giving you a higher level. Many times in this case, you can push for an “out-of-band” offer — essentially getting paid for an L7 while you’re an L6.

6. At a startup, the playbook is different 

You may be dealing with the founder directly. It’s very likely there is no range for the role, as smaller companies have much less access to salary data. The goal at the initial offer conversation is to understand three things:

That last one can be tricky because you need data the recruiter may be reluctant to give — the option strike price, preferred price, number of outstanding shares — and you need to understand how options work. At last, get ready to ask:

“What is the valuation based on?”

And get ready to not get a straight answer until you’ve asked five times (yes, this is normal).

TL;DR: Ask the questions an investor would ask because, *news flash*, you are now an investor — but instead of cash, you’re staking your time and earning trajectory on the company’s success. You can meet with the investors too; it’s 100% OK to ask for that when the company is early-stage.

Lastly, 2021 has been a weird year for startup compensation, so much of the data from previous years is unreliable. Remote work, abundant access to capital, and greater trust in international talent have skewed things quite a bit. Still, I find the Holloway Guide ranges to be a good starting point.

7. Your job is to win hearts and minds

It can be tempting to think you need to negotiate now that you have data. Nope, not yet. The next step, instead, is to upsell your worth before you come back with any kind of counteroffer. This is especially important if you’re going for a senior role.

What to do next: Ask for follow-up meetings with decision makers. If you’re a Director or higher, you can usually ask to meet with any VP and possibly C-level execs. VPs can often meet with the CEO and even board members. Take your time; this is important if you want your salary to reflect your value. If everyone wants you, you’ll be calling the shots later.

How to run these effectively: Come prepared with three things, tailored to who you’re meeting:

  • Questions about how you can create meaningful impact
  • Ideas based on your interviews so far
  • Bonus points: discussing obstacles to your taking the role and making them sell you on it

8. OK, now get some good data

Did you know that women make only 47 cents in equity for every dollar a man makes? A HUGE reason for that is that many women don’t fully evaluate their offer before negotiating. Let’s change that. Particularly if you are a woman, ask yourself these questions:

9. Comparing offers

Not all offers are made equal — in fact, they are intentionally confusing. At Google, you may get a front-loaded vesting schedule on your stock; at Amazon, sizable cash bonuses the first two years. It seems obvious that you should look at the comp, but that’s not everything:

  • Which company has a better trajectory?
  • How do promotions work?
  • Is your manager influential enough to pull for you when needed?
  • Is your product or team visible enough to get good resourcing?
  • What’s the company brand worth to your earnings trajectory?

TL;DR: Getting paid more up-front doesn’t always mean you’ll make the most overall. Plan carefully.

10. Time to make an ask

It can be awkward to ask for more money, but trust me, everyone expects you to do it. On top of that, it doesn’t help that so much of the advice out there is conflicting. Let’s set the record straight:

“I need a competing offer.”

MYTH: You absolutely do not need multiple offers. Just being able to say you’re speaking to other companies is sufficient — you can quote the expected salaries for other roles if needed.

“I need to provide copies of my other offers.”

MYTH: Nope, nope, nope (even though Google in particular loves to ask for them). You signed an NDA before every interview, so you can always use that as a reason.

“I should send the recruiter an email with my ask and justification.”

MYTH: Negotiating via email = MAJOR CRINGE and definitely a worse outcome. I know there are folks selling fill-in-the-blank templates out there. My advice if you want a meaningful/large increase is to have the conversation over the phone.

“If I find a number online, I can quote it as a reason to get more.”

MYTH: Nothing boils a recruiter’s blood more than “It says X on Glassdoor.” Compensation is an exact science — have arguments prepared that are specific to your situation.

“The best way to get more is to reiterate how qualified I am.

MYTH: You already got interviewed and everyone’s read your resume. That’s how you got your initial offer; now you need to build additional arguments. Use the information you collected during the interview about what challenges the team is facing — maybe that increases the scope of the role? Discuss why leaving your current role will be hard — are you critical to your current team? In other words: instead of asking for money, make them give you more money by bringing in obstacles the recruiter needs to overcome to close you.

“I need to be aggressive and threaten to walk if they don’t match.”

MYTH: LOL, let me know how that goes for you. My guess is you’ll get a mediocre increase worded as a “final offer.” If you want big moves, I’m talking $100K+ more, you need to collaborate with your recruiter, not make them an enemy.

As a final word of wisdom: Start with negotiating your overall compensation, not individual components. For example, ask for “500K” and then the next round ask “Can I have X more equity?” Then, when you’ve exhausted all other avenues, ask for a signing bonus. If you still need more help, you can always read our guide.

Now that you’ve got all these RSUs in your compensation…

If your new RSUs are more than 10% of your liquid net worth, you should make a plan to diversify ASAP. Holding a concentrated position can translate into greater portfolio volatility, which has been shown to reduce compounded growth rates and future wealth. At Candor we help you automate RSU diversification by converting your stock weekly, even during blackout periods. You can find us here.

Thanks, Niya!

Till next week, and have a fulfilling and productive week 🙏


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Browse more open roles, or add your own, at Lenny’s Job Board.

 

By: Lenny Rachitsky

Guest post by Niya Dragova, co-founder of Candor

Source: The 10 commandments of salary negotiation – by Lenny Rachitsky – Lenny’s Newsletter

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