How to Overcome Your Fear of Failure

A client (who I’ll call “Alex”) asked me to help him prepare to interview for a CEO role with a start-up. It was the first time he had interviewed for the C-level, and when we met, he was visibly agitated. I asked what was wrong, and he explained that he felt “paralyzed” by his fear of failing at the high-stakes meeting.

Digging deeper, I discovered that Alex’s concern about the quality of his performance stemmed from a “setback” he had experienced and internalized while working at his previous company. As I listened to him describe the situation, it became clear that the failure was related to his company and outside industry factors, rather than to any misstep on his part. Despite that fact, Alex could not shake the perception that he himself had not succeeded, even though there was nothing he could have logically done to anticipate or change this outcome.

People are quick to blame themselves for failure, and companies hedge against it even if they pay lip service to the noble concept of trial and error. What can you do if you, like Alex, want to face your fear of screwing up and push beyond it to success? Here are four steps you can take:

Redefine failure. Behind many fears is worry about doing something wrong, looking foolish, or not meeting expectations — in other words, fear of failure. By framing a situation you’re dreading differently before you attempt it, you may be able to avoid some stress and anxiety.

Let’s go back to Alex as an example of how to execute this. As he thought about his interview, he realized that his initial bar for failing the task — “not being hired for the position” — was perhaps too high given that he’d never been a CEO and had never previously tried for that top job. Even if his interview went flawlessly, other factors might influence the hiring committee’s decision — such as predetermined preferences on the part of board members.

In coaching Alex through this approach, I encouraged him to redefine how he would view his performance in the interview. Was there a way he might interpret it differently from the get-go and be more open to signs of success, even if they were small? Could he, for example, redefine failure as not being able to answer any of the questions posed or receiving specific negative feedback? Could he redefine success as being able to answer each question to the best of his ability and receiving no criticisms about how he interviewed?

As it turned out, Alex did advance to the second round and was complimented on his preparedness. Ultimately, he did not get the job. But because he had shifted his mindset and redefined what constituted failure and success, he was able to absorb the results of the experience more gracefully and with less angst than he had expected.

Set approach goals (not avoidance goals). Goals can be classified as approach goals or avoidance goals based on whether you are motivated by wanting to achieve a positive outcome or avoid an adverse one. Psychologists have found that creating approach goals, or positively reframing avoidance goals, is beneficial for well-being. When you’re dreading a tough task and expect it to be difficult and unpleasant, you may unconsciously set goals around what you don’t want to happen rather than what you do want.

Though nervous about the process, Alex’s desire to become a CEO was an approach goal because it focused on what he wanted to achieve in his career rather than what he hoped to avoid. Although he didn’t land the first CEO job he tried to get, he did not let that fact deter him from keeping that as his objective and getting back out there.

If Alex had instead become discouraged about the outcome of his first C-level interview and decided to actively avoid the pain of rejection by never vying for the top spot again, he would have shifted from approach to avoidance mode. While developing an avoidance goal is a common response to a perceived failure, it’s important to keep in mind the costs of doing so. Research has shown that employees who take on an avoidance focus become twice as mentally fatigued as their approach-focused colleagues.

Create a “fear list.” Author and investor Tim Ferriss recommends “fear-setting,” creating a checklist of what you are afraid to do and what you fear will happen if you do it. In his Ted Talk on the subject, he shares how doing this enabled him to tackle some of his hardest challenges, resulting in some of his biggest successes.

I asked Alex to make three lists: first, the worst-case scenarios if he bombed the interview; second, things he could do to prevent the failure; and third, in the event the flop occurred, what could he do to repair it. Next, I asked him to write down the benefits of the attempted effort and the cost of inaction. This exercise helped him realize that although he was anxious, walking away from the opportunity would be more harmful to his career in the long run.

Focus on learning. The chips aren’t always going to fall where you want them to — but if you understand that reality going in, you can be prepared to wring the most value out of the experience, no matter the outcome.

To return to Alex, he was able to recognize through the coaching process that being hyper-focused on his previous company’s flop — and overestimating his role in it — caused him to panic about the CEO interview. When he shifted gears to focus not on his potential for failure but on what he would learn from competing at a higher level than he had before, he stopped sweating that first attempt and was able to see it as a steppingstone on a longer journey to the CEO seat.

With that mindset, he quickly pivoted away from his disappointment at not getting the offer to quickly planning for the next opportunity to interview for a similar role at another company.

Remember: it’s when you feel comfortable that you should be fearful, because it’s a sign that you’re not stepping far enough out of your comfort zone to take steps that will help you rise and thrive. By rethinking your fears using the four steps above, you can come to see apprehension as a teacher and guide to help you achieve your most important goals.

By: Susan Peppercorn / Harvard Business Review

Susan Peppercorn is an executive career transition coach and speaker. She is the author of Ditch Your Inner Critic at Work: Evidence-Based Strategies to Thrive in Your Career. Numerous publications including the New York Times, Wall Street Journal, Fast Company, the Boston Globe, and SELF Magazine have tapped her for career advice. You can download her free Career Fit Self-Assessment and 25 Steps to a Successful Career Transition.

Source: Pocket

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References:

17 Traits That Make a Successful Person Stand out from the Crowd  What Is Creativity?

We All Have It, and Need It 

How to Think Critically: 5 Powerful Techniques 

What Are The Levels Of The Mind And How To Improve Them 

How To Improve Short Term Memory: 7 Simple Ways to Try Now

7 Traits That Make a Successful Person Stand out from the Crowd

  Is There a True Measure of Success? How to Define Your Own

  How Do You Measure Success: 10 New And Better Ways

  50 Habits of Highly Successful People You Should Learn

 8 Daily Habits of the Successful People (Which Are Rare)

Bitcoin Cryptocurrency Price Chart May Show $30,000 as Floor

Bitcoin has been grinding lower in a trading range just above $30,000, prompting cryptocurrency insiders to flag the round number as a potential floor for the virtual coin.

Crypto prognostication is fraught with risk, not least because Bitcoin’s price has roughly halved from a record high three months ago. Even so, some in the industry are coalescing around $30,000 as a support point, citing clues from options activity and recent trading habits.

In options, $30,000 is the most-sold downside strike price for July and August, signaling confidence among such traders that the level will hold, according to Delta Exchange, a crypto derivatives exchange. It “should provide a strong support to the market,” Chief Executive Officer Pankaj Balani said.

Traders are also trying to take advantage of price ranges, including buying between $30,000 and $32,000 and selling in the $34,000 to $36,000 zone, Todd Morakis, co-founder of digital-finance product and service provider JST Capital, said in emailed comments, adding that “the market at the moment seems to paying attention more to bad news than good.”

Bitcoin has been hit by many setbacks of late, including China’s regulatory crackdown — partly over concerns about high energy consumption by crypto miners — and progress in central bank digital-currency projects that could squeeze private coins. The creator of meme-token Dogecoin recently lambasted crypto as basically a sham, and the appetite for speculation is generally in retreat.

Bitcoin traded around $31,600 as of 9:26 a.m. in London and is down about 6% so far this week. It’s still up more than 200% over the past 12 months, despite a rout in calendar 2021.

Konstantin Richter, chief executive officer and founder of Blockdaemon, a blockchain infrastructure provider, holds out hope for institutional demand, arguing Bitcoin would have to drop below $20,000 before institutions start questioning “the validity of the space.”

“If it goes down fast, it can go up fast,” he said in an interview. “That’s just what crypto is.”

— With assistance by Akshay Chinchalkar

Source: Bitcoin (BTC USD) Cryptocurrency Price Chart May Show $30,000 as Floor – Bloomberg

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Critics:

The dramatic pullback in bitcoin and other cryptocurrencies comes as a flurry of negative headlines and catalysts, from Tesla CEO Elon Musk to a new round of regulations by the Chinese government, have hit an asset sector that has been characterized by extreme volatility since it was created.

The flagship cryptocurrency fell to more than three-month lows on Wednesday, dropping to about $30,000 at one point for a pullback of more than 30% and continuing a week of selling in the crypto space. Ether, the main coin for the Ethereum blockchain network, was also down sharply and broke below $2,000 at one point, a more than 40% drop in less than 24 hours.

Part of the reason for bitcoin’s weakness seems to be at least a temporary reversal in the theory of broader acceptance for cryptocurrency.

Earlier this year, Musk announced he was buying more than $1 billion of it for his automaker’s balance sheet. Several payments firms announced they were upgrading their capabilities for more crypto actions, and major Wall Street banks began working on crypto trading teams for their clients. Coinbase, a cryptocurrency exchange company, went public through a direct listing in mid-April.

The weakness is not isolated in crypto, suggesting that the moves could be part of a larger rotation by investors away from more speculative trades.

Tech and growth stocks, many of which outperformed the broader market dramatically during the coronavirus pandemic, have also struggled in recent weeks.

Visa And BlockFi Launch 2% Bitcoin Rewards Credit Card

In this photo illustration a Visa logo is seen on a mobile...

Cryptocurrency services company BlockFi launched its first-ever crypto rewards credit card, in conjunction with Visa, to approved clients in the United States on Tuesday. BlockFi’s plans for a credit card were initially disclosed in December 2020 when the exchange released a waiting list for US-based clients, which is now over 400,000 people. BlockFi CEO Zac Prince expects everyone on the waitlist to receive their card around the end of July.

The new offering provides clients with a simple way to acquire bitcoin without having to pay fees or navigate the sometimes complicated onboarding processes at exchanges. BlockFi stands to benefit from utilizing the card as a customer acquisition tool as well as from the fees it will receive from money spent on the card.

“The crypto industry has come a long way since the first Bitcoin payment transaction 11 years ago,” Flori Marquez, Co-Founder and SVP of Operations at BlockFi said. “Today, nearly everyone knows about the important role crypto plays in reshaping the financial space, and our new credit card is set to be another game-changer. This card will make it easier than ever for people to earn Bitcoin back while making day-to-day purchases.”

Holders of BlockFi’s Rewards Visa Card will be able to earn 1.5% back in bitcoin on every purchase, with the payout increasing to 2% on every dollar spent over $50,000 annually. As an incentive to new users, they will receive a 3.5% bitcoin rewards rate for the first 90 days or until they receive $100 worth of bitcoin. The card also offers other benefits such as rebates on trading fees and comes with no annual fee or foreign transaction fees.

These rewards are competitive when compared to other traditional cards. For example, Bank of America’s Customized Cash Rewards credit card offers 3% cash back in one spending category of the customer’s choosing, 2% back automatically on grocery purchases and 1% back on all other purchases.

However, depending on an individual’s spending habits they could be outshone by Gemini, the crypto exchange headed up by the Winklevoss twins, when it launches its crypto rewards credit card this summer in partnership with Mastercard. While BlockFi only offers rewards in bitcoin for now, Gemini will give clients 3% back on dining purchases in any cryptocurrency offered on the exchange on purchases without annual fees or exchange fees. However, the rewards drop to 2% on groceries and 1% for all other purchases.

The launch of the BlockFi crypto rewards credit card also marks a new offering in Visa’s expanding crypto business. The electronic payments company has partnered with several crypto firms to offer Visa debit cards and supported over $1 billion worth of volume through crypto-linked cards in the first half of 2020, but the partnership with BlockFi will bring its first crypto rewards credit card. In 2021, Visa appeared on Forbes’ Blockchain 50 list after applying for over 150 blockchain-related patents and announcing an integration with US-dollar pegged stablecoin USDC.

Card users will receive a 1.5% cashback on an accrual basis for every transaction made through the card, which will then be converted to bitcoin and placed into a BlockFi account in a regular monthly cycle.

“Crypto rewards programs are a compelling way to engage consumers in the crypto economy,” Terry Angelos, SVP and Global Head of Fintech at Visa said. “We’re excited to see programs like the BlockFi Rewards Visa Card, which offer rewards that are relevant to the growing community of digital currency adopters.”

The move by BlockFi comes after PayPal Holdings Inc in October said it would allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies, a move which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods.

Bitcoin has surged about 160% this year, fueled by demand for riskier assets amid unprecedented fiscal and monetary stimulus, interest in assets perceived as resistant to inflation and expectations that cryptocurrencies will win mainstream acceptance.

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Source: Visa And BlockFi Launch 2% Bitcoin Rewards Credit Card

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Critics:

BlockFi is a New York City-based start-up cryptocurrency financial institution. It lends U.S. dollars against bitcoin and other cryptocurrency collateral, as well as accepting deposits of cryptocurrencies which pay interest to the depositor. BlockFi Co-Founder and CEO Zac Prince has a background both in consumer lending and start-ups.

In February 2018, BlockFi received a $1.55 million funding in a seed round from ConsenSys Ventures, SoFi and Kenetic Capital, among others. In July it secured another $50 million in funding from Michael Novogratz‘s Galaxy Digital Ventures

References

Solar Power Is Dirt-Cheap and About to Get Even More Powerful

After focusing for decades on cutting costs, the solar industry is shifting attention to making new advances in technology. The solar industry has spent decades slashing the cost of generating electricity direct from the sun. Now it’s focusing on making panels even more powerful.

With savings in equipment manufacturing hitting a plateau, and more recently pressured by rising prices of raw materials, producers are stepping up work on advances in technology — building better components and employing increasingly sophisticated designs to generate more electricity from the same-sized solar farms.

“The first 20 years in the 21st century saw huge reductions in module prices, but the speed of the reduction started to level off noticeably in the past two years,” said Xiaojing Sun, global solar research leader at Wood Mackenzie Ltd. “Fortunately, new technologies will create further cost-of-electricity reductions.”

A push for more powerful solar equipment underscores how further cost reductions remain essential to advance the shift away from fossil fuels. While grid-sized solar farms are now typically cheaper than even the most advanced coal or gas-fired plants, additional savings will be required to pair clean energy sources with the expensive storage technology that’s needed for around-the-clock carbon-free power.

Bigger factories, the use of automation and more efficient production methods have delivered economies of scale, lower labor costs and less material waste for the solar sector. The average cost of a solar panel dropped by 90% from 2010 to 2020.

Boosting power generation per panel means developers can deliver the same amount of electricity from a smaller-sized operation. That’s potentially crucial as costs of land, construction, engineering and other equipment haven’t fallen in the same way as panel prices.

It can even make sense to pay a premium for more advanced technology. “We’re seeing people willing to pay a higher price for a higher wattage module that lets them produce more power and make more money off their land,” said Jenny Chase, lead solar researcher at BloombergNEF.

Higher-powered systems are already arriving. Through much of the past decade, most solar panels produced a maximum of about 400 watts of electricity. In early 2020, companies began selling 500-watt panels, and in June, China-based Risen Energy Co. introduced a 700-watt model.

Here are some of the ways that solar companies are super-charging panels:

While many current developments involve tweaks to existing technologies, perovskite promises a genuine breakthrough. Thinner and more transparent than polysilicon, the material that’s traditionally used, perovskite could eventually be layered on top of existing solar panels to boost efficiency, or be integrated with glass to make building windows that also generate power.

“We will be able to take solar power to the next level,” said Kim Dohyung, principal researcher on a perovskite project team at Korea Electric Power Corp., one of several companies experimenting with the material. “Ultimately, this new technology will enable us to make a huge contribution in lowering greenhouse gas emissions.”

Adoption of perovskite has previously been challenged by costs and technical issues that prevented commercial-scale production. There are now signs that’s changing: Wuxi UtmoLight Technology Co. in May announced plans to start a pilot line by October with mass production beginning in 2023.

Solar panels typically get their power from the side that faces the sun, but can also make use of the small amount of light that reflects back off the ground. Bi-facial panels started to gain in popularity in 2019, with producers seeking to capture the extra increments of electricity by replacing opaque backing material with specialist glass. They were also temporarily boosted by a since-closed loophole in U.S. law that exempted them from tariffs on Chinese products.

The trend caught solar glass suppliers off-guard and briefly caused prices for the material to soar. Late last year, China loosened regulations around glass manufacturing capacity, and that should prepare the ground for more widespread adoption of the two-sided solar technology.

Another change that can deliver an increase in power is shifting from positively charged silicon material for solar panels to negatively charged, or n-type, products.

N-type material is made by doping polysilicon with a small amount of an element with an extra electron like phosphorous. It’s more expensive, but can be as much as 3.5% more powerful than the material that currently dominates. The products are expected to begin taking market share in 2024 and be the dominant material by 2028, according to PV-Tech.

In the solar supply chain, ultra-refined polysilicon is shaped into rectangular ingots, which are in turn sliced into ultra-thin squares known as wafers. Those wafers are wired into cells and pieced together to form solar panels.

For most of the 2010s, the standard solar wafer was a 156-millimeter (6.14 inches) square of polysilicon, about the size of the front of a CD case. Now, companies are making the squares bigger to boost efficiency and reduce manufacturing costs. Producers are pushing 182- and 210-millimeter wafers, and the larger sizes will grow from about 19% of the market share this year to more than half by 2023, according to Wood Mackenzie’s Sun.

The factories that wire wafers into cells — which convert electrons excited by photons of light into electricity — are adding new capacity for designs like heterojunction or tunnel‐oxide passivated contact cells. While more expensive to make, those structures allow the electrons to keep bouncing around for longer, increasing the amount of power they generate.

— With assistance by Heesu Lee

By:

Source: Solar Power Is Dirt-Cheap and About to Get Even More Powerful – Bloomberg

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Critics:

Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV), indirectly using concentrated solar power, or a combination. Concentrated solar power systems use lenses or mirrors and solar tracking systems to focus a large area of sunlight into a small beam. Photovoltaic cells convert light into an electric current using the photovoltaic effect.

Photovoltaics were initially solely used as a source of electricity for small and medium-sized applications, from the calculator powered by a single solar cell to remote homes powered by an off-grid rooftop PV system. Commercial concentrated solar power plants were first developed in the 1980s.

As the cost of solar electricity has fallen, the number of grid-connected solar PV systems has grown into the millions and gigawatt-scale photovoltaic power stations are being built. Solar PV is rapidly becoming an inexpensive, low-carbon technology to harness renewable energy from the Sun. The current largest photovoltaic power station in the world is the Pavagada Solar Park, Karnataka, India with a generation capacity of 2050 MW.

The International Energy Agency projected in 2014 that under its “high renewables” scenario, by 2050, solar photovoltaics and concentrated solar power would contribute about 16 and 11 percent, respectively, of worldwide electricity consumption, and solar would be the world’s largest source of electricity. Most solar installations would be in China and India.[3] In 2019, solar power generated 2.7% of the world’s electricity, growing over 24% from the previous year. As of October 2020, the unsubsidised levelised cost of electricity for utility-scale solar power is around $36/MWh.

One issue that has often raised concerns is the use of cadmium (Cd), a toxic heavy metal that has the tendency to accumulate in ecological food chains. It is used as semiconductor component in CdTe solar cells and as a buffer layer for certain CIGS cells in the form of cadmium sulfide. The amount of cadmium used in thin-film solar cells is relatively small (5–10 g/m2) and with proper recycling and emission control techniques in place the cadmium emissions from module production can be almost zero.

Current PV technologies lead to cadmium emissions of 0.3–0.9 microgram/kWh over the whole life-cycle.[136] Most of these emissions arise through the use of coal power for the manufacturing of the modules, and coal and lignite combustion leads to much higher emissions of cadmium. Life-cycle cadmium emissions from coal is 3.1 microgram/kWh, lignite 6.2, and natural gas 0.2 microgram/kWh.

References

 

 

 

A Critical Piece Of The Machine Economy: The People

Over the shoulder view of young Asian businesswoman using AI assistant on smartphone

70% of GDP growth in the global economy between now and 2030 will be driven by the machines, according to PwC. This is a near $7 trillion dollar contribution to U.S. GDP based around the combined production from artificial intelligence, machine learning, robotics, and embedded devices. This is the rise of a new machine economy.

For those not familiar with the machine economy, it’s where the smart, connected, autonomous, and economically independent machines or devices carry out the necessary activities of production, distribution, and operations with little or no human intervention. The development of this economy is how Industry 4.0 becomes a reality.

Visionary leaders will implement new technologies and combine them with capital investments in ways that help them grow, expand, diversify, and actually improve lives. These machine economy leaders will operate in a new intelligent systems world in thousands of companies that will drive new economic models globally.

Sounds good so far, but all of that autonomous machinery isn’t going to build and operate itself.

Not enough people to do the work

While most people would agree that manufacturing is an important part of our economy, they aren’t recommending their children pursue that line of work. It’s expected that 4.6 million manufacturing jobs created between now and 2028 will go unfilled. Key drivers for this change include the fact that 10,000 baby boomers retire every day without people to replace them.

The workforce is quickly losing the second-largest age group, and millennials (the largest group) have so far not been attracted to manufacturing jobs at large. Instead they tend to be drawn toward technology, engineering, finance. The underlying issue may be one of perception, as the future of manufacturing will in fact include a much higher degree of technology, engineering, and finance in order to function.

Different skills are needed

Manufacturing jobs are changing. The number of purely manual, repetitive tasks are shrinking as technology advances to handle those jobs with robots and automation. Fifty percent of manufacturers have already adopted some form of automation, and now they need people with critical thinking, programming, and digital skills. Tomorrow’s jobs have titles such as Digital Twin Engineer, Robot Teaming Coordinator, Drone Data Coordinator, Smart Scheduler, Factory Manager, Safety Supervisor, and so on.

The shifts in productivity are happening so quickly, humans can’t keep up with them

An unskilled position can be filled relatively quickly as the prerequisite qualifications are limited. It typically takes months to fill a skilled position, and in most cases much longer for an individual to develop the requisite skills before they even think to apply. One alternative is to lower requirements in terms of education, skill, and experience in order to get someone new in the position, but then companies have to absorb the entire expense of training them.

Meanwhile there is increased pressure to utilize existing people’s and teams’ times and skills as much as possible, which can lead to burnout. This is a tenuous cycle that needs to be fortified by making sure our workforce has the skills training they need, when and where they need it.

In order to thrive in the machine economy, we need to invest significantly in people as well as in infrastructure. Focusing purely on infrastructure might lead to short-term and maybe mid-term profits, but ultimately it is not sustainable, and everyone loses. One can’t simply say, “We couldn’t fill the positions,” while there are people who need work.

Level-up our workforce

The human capacity to learn is basically limitless when individuals are motivated and have access to something to learn. There are several ways to tap into that capacity. First, we need to capture the knowledge and experience of the employees we have, so that those relevant skills can be passed on to the next wave of workers. We also need to ensure relevant training is available for people at every level of the company so that new people get up to speed and tenured employees don’t get left behind.

While some technologies need to be learned on the job, there is a level of foundational skill to understand in the machine economy, in addition to the technical and vocational skills required within a given field. An investment in, and possibly partnerships with, local schools could be a wise move for many companies. Lastly, while college is a great path for many people, it’s not the only form of higher education. Investments in vocational training and apprenticeship programs will be critical for our society to thrive in the machine economy.

Just as workers need to rethink and develop new skills, employers need to rethink and develop new ways of nurturing and attracting talent. To fully realize the promise of the machine economy, it is incumbent upon us to ensure people have access to the training and the tools they need in order to not only be successful but thrive. After all, what’s the point of all this technology if it doesn’t make life better for everyone?

PRESIDENT AND CEO

With more than 25 years of experience driving digital innovation and growth at technology companies, Kevin Dallas is responsible for all aspects of the Wind River business globally. He joined Wind River from Microsoft, where he most recently served as the corporate vice president for cloud and AI business development. At Microsoft, he led a team creating partnerships that enable the digital transformation of customers and partners across a range of industries including: connected/autonomous vehicles, industrial IoT, discrete manufacturing, retail, financial services, media and entertainment, and healthcare.

Prior to joining Microsoft in 1996, he held roles at NVIDIA Corporation and National Semiconductor (now Texas Instruments Inc.) in the U.S., Europe, and the Middle East in roles that included microprocessor design, systems engineering, product management, and end-to-end business leadership. He currently serves as a director on the board of Align Technology, Inc. He holds a B.S.c. degree in electrical and electronic engineering from Staffordshire University, Stoke-on-Trent, Staffordshire, England.

Source: A Critical Piece Of The Machine Economy: The People

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Critics:

Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy.

Increasingly, the digital economy is intertwined with the traditional economy, making a clear delineation harder. It results from billions of everyday online connections among people, businesses, devices, data, and processes. It is based on the interconnectedness of people, organizations, and machines that results from the Internet, mobile technology and the internet of things (IoT).

Digital economy is underpinned by the spread of Information and Communication Technologies (ICT) across all business sectors to enhance its productivity.Digital transformation of the economy is undermining conventional notions about how businesses are structured, how consumers obtain services, informations and goods and how states need to adapt to these new regulatory challenges.

Intensification of the global competition for human resources

Digital platforms rely on ‘deep learning‘ to scale up their algorithm’s capacity. The human-powered content labeling industry is constantly growing as companies seek to harness data for AI training. These practices have raised concerns concerning the low-income revenue and health-related issues of these independent workers. For instance, digital companies such as Facebook or YouTube use ‘content monitor’-contractors who work as outside monitors hired by a professional services company subcontractor- to monitor social media to remove any inappropriate content.

Thus, the job consists of watching and listening to disturbing posts that can be violent or sexual. In January 2020, through its subcontractor services society, Facebook and YouTube have asked the ‘content moderators’ to sign a PTSD (Posttraumatic Stress Disorder) disclosure after alleged cases of mental disorders witnessed on workers.

See also

References

Open Source Brings Collective Creativity To The Intelligent Edge

The idea of open source is not new. Ideas around the power of collectives to share, iterate, and effectively innovate together in near virtual space arose in the mid-eighteenth century, during the heyday of the age of enlightenment, with groups like the Lunar Society in the UK. The Lunar Society met roughly once a month in Birmingham, at the epicenter of the industrial revolution, as a collective of great minds, including both of Charles Darwin’s grandfathers.

They explored, shared, and broke barriers across disciplines together because they had the space in which to do it, and as a byproduct they gained great energy from discovering the possibilities of the world around them. For anyone who has attended an open source event, this description may sound familiar.

The Lunar Society of the 1790s is in many ways the very essence of open source community. Getting the very best ideas, working together, reacting and sharing together in real time. One major difference, though, is that the Lunar Society was very exclusive by nature, while today’s open source community is not. It is truly open. We live in a vastly more complex and expansive world than Birmingham in the 1790s; the power of the opportunities today is global, and mostly still forming.

With billions of devices running autonomously, computing, sensing, and predicting zettabytes of data, there are endless possibilities for what business ideas and technologies will thrive on the intelligent edge. Only an open source strategy can work in this environment: millions of people, ten of millions of ideas, maybe billions of combinations of code.

Open source for the intelligent edge

An effective intelligent edge will require a robust infrastructure that can handle low latency, high availability, and bandwidth demands. This infrastructure will include three key components: a cloud platform for running applications, analytics to monitor the health of the platform and services, and an orchestration layer to deploy and manage services across a distributed network.

There are five basic ways for companies to obtain this infrastructure: build it themselves from scratch, buy a proprietary solution from a vendor, build it starting with open source, buy a vendor-supported open source solution, or use infrastructure as a service (IaaS).

In a recent survey we administered across 500 respondents in France, Germany, Spain, the UK, and the U.S., a relatively small percentage selected “build your own from scratch,” and a few more selected “vendor proprietary.” The majority selected an option where open source plays a role, whether in IaaS, do-it-yourself (DIY), or vendor-supported options. IaaS was the #1 choice for all three elements (cloud platform, analytics, and orchestration). The rest were split between one of the other flavors of open source (DIY or vendor-supported).

It seems most people aren’t interested in building and/or managing their infrastructure themselves. 34% of business in the U.S. cite “lack of internal skills or knowledge” and “bandwidth constraints on people’s time” as the biggest barriers to adopting intelligent edge technologies, followed closely by “additional investments in associated technologies are unclear” and “lack of internal business support or request.” Open source options give these companies the benefits of the solution without having to shoulder the burden all on their own.

If building and supporting your own infrastructure is core to your business, then building from scratch might make sense — but even then, chances are you may still use open source components. With 180,000 open source projects available with 1,400 unique licenses, it just doesn’t make sense not to use open source to some degree.

Two key reasons why open source is so pervasive

The popularity of open source is not surprising. For one thing, you get to tap into a technological hive mind. There is some debate, and many variables, but estimates put the number of open source developers worldwide somewhere north of 20 million. Open source communities attract a wide variety of people who are interested in participating in a particular piece of technology, with communities and projects running the gamut in terms of size and scope, depending on the focus and maturity of the project.

The common thread is the community of people who are contributing and reviewing code in an effort to make the project better. Generally speaking, the more applicable the code is to a variety of use cases and needs, the more participation you might see in the community. So with open source projects you get to leverage some of the smartest people on the planet, and they don’t have to be on your company payroll.

The second reason for such widespread usage of open source — related to the first — is the fact that you don’t have to do it all yourself. It’s a pretty common scenario for a development organization to use open source code as a component of a larger solution. By leveraging that open source component they can save hundreds if not thousands of work hours by not having to develop or be the sole maintainer of that piece of code. It also allows the organization to focus on their value-add.

Not just a groovy codefest

Open source derives its success from community, and just like in any community, some boundaries and agreed-upon rules to play by are necessary in order to thrive. It’s one thing to download a piece of open source code for use in a personal project. It’s another to use open source code as a critical component of your company’s operations or as a product you provide to your customers. Just because you can get open source code “for free” doesn’t mean you won’t make an investment.

Open source projects need focus, attention, and nurturing. In order to get the full value from the community one must be an active member of that community — or pay someone to be an active member of the community on your behalf. Being active requires an investment of time and resources to give a voice and listen to other voices on a steering committee, discuss priority features to work on next, participate in marketing activities designed to encourage more participants, contribute quality code, review code from others, and more. Leaning in is strongly encouraged.

Open source technology offers a tremendous opportunity for collective creativity and innovation. When like-minded people gather together for a focused intellectual purpose, it’s energizing to the individual and can be hugely beneficial to the organization. Whether the open source code is part of an IaaS, a component of something you build, or part of a vendor-supported solution, it is a tremendous asset you can use to push your company’s value-add forward to better meet your customer’s needs.

Matt Jones is responsible for the global R&D team at Wind River. In this role, he leads the delivery of innovative products that are enabling and accelerating the digital transformation of our customers across market segments, ranging from aerospace to industrial, defense to medical, and networking to automotive. With nearly 20 years of experience in the technology industry, he oversees the development of the Wind River portfolio to expand the company’s reach in both new and existing markets.

He was previously at Virgin Hyperloop One, where as Senior Vice President he led the Software Engineering teams; tasked with providing all the software needed to manage, control, and operate an autonomous hyperloop system. This included embedded software and electronics, networking, cloud data and services, as well as customer-facing applications. Prior to Virgin Hyperloop One, he was chief product officer at moovel Group, Daimler’s mobility solutions company. Before moovel, he was director of future technology at Jaguar Land Rover. He also serves as Chairman at GENIVI Alliance, and was a member of the Board of Directors at The Linux Foundation.

He holds a Master of Engineering, Electronic and Electrical with Management, from the University of Birmingham.

Source: Open Source Brings Collective Creativity To The Intelligent Edge

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Critics:

Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use the source code, design documents, or content of the product. It most commonly refers to the open-source model, in which open-source software or other products are released under an open-source license as part of the open-source-software movement. Use of the term originated with software, but has expanded beyond the software sector to cover other open content and forms of open collaboration.

Generally, open source refers to a computer program in which the source code is available to the general public for use for any (including commercial) purpose, or modification from its original design. Open-source code is meant to be a collaborative effort, where programmers improve upon the source code and share the changes within the community. Code is released under the terms of a software license. Depending on the license terms, others may then download, modify, and publish their version (fork) back to the community.

Open source promotes universal access via an open-source or free license to a product’s design or blueprint, and universal redistribution of that design or blueprint. Before the phrase open source became widely adopted, developers and producers used a variety of other terms. Open source gained hold in part due to the rise of the Internet. The open-source software movement arose to clarify copyright, licensing, domain, and consumer issues. 

Agriculture, economy, manufacturing and production

3 Initial Steps To Doing Your Own Public Relations and Getting Excellent Results

3 Initial Steps to Doing Your Own PR and Getting Excellent Results

It’s a classic symbiotic relationship. Entrepreneurs need exposure in the press and the media need information from brands to fill their pages. It should be a balanced partnership then yes? Well… not always. The problem comes when you’re simply not giving the media what they can use, i.e. what’s of interest to their particular readers.

Often this is down to not understanding how journalists work and what they want, but also it can be down to laziness on the part of inhouse or agency PRs who persist in sending mass mailouts to already overserved press.

You may not believe it, but It’s actually surprisingly easy to be featured in the press. And you don’t have to have budgets large enough to employ the services of a PR agency which can easily cost £5 to £10K plus a month plus disbursements (expenses) just for the most basic of services.

You just need to follow the following steps.

1. Select the media titles your potential and existing audience actually reads.

How?  Well, try taking a sample of your social media followers and have a look at what media they are following. That’s an easy start. And don’t be afraid to pop a post up asking them to name or even vote for their favourite titles too.

Also conduct a simple Google search for media titles that reach your existing and potential customers and industry sector.

There are professional media databases which you can use to compile media lists but these can be expensive. If your budget is tight you could consider buddying up with another entrepreneur and splitting the cost.

Be reassured though, it’s really not about the AMOUNT of titles you target, but targeting the RIGHT ONES – i.e. the media that’s actually consumed by your target audience (you of course need to have defined this first).

Think beyond just national newspapers and magazines too. Consider TV and radio programmes, podcasts, social media influencers, smaller local/regional titles. And also titles that might not at first seem an obvious choice. For example, if you have a food or drinks brand, depending on its type and price points, you could consider wellness titles, health & fitness titles, luxury lifestyle blogs, TV programmes with a focus on nutrition or weight loss, parenting titles, supermarket magazines.

Don’t stick your nose up at these – most, including Waitrose’s monthly magazine actually have amazing reach, a fantastic reputation, wonderful production values and loyal readers.  And in the UK, Asda’s magazine has one of the highest circulations and readerships of all print titles.

2. Find the contact details of the best person to approach.

What you also need to do, is find the names and email addresses of the best editors and journalists to actually contact.

This again isn’t as hard as you may think. Most publications have what we call in the trade, a “flannel panel,” AKA a section in the magazine, often near the front, which details all the staff and their roles. On websites it’s usually under About Us or Contact Us.

Look through these and find the journalist or editor responsible for the content that’s the best fit for your product or service. You can also go on to the media title’s publisher’s website and often find contacts there.

And LinkedIn can be another great source – here you can often find email addresses too and if you are a Premium member, reach out direct too. Failing this, a quick phone call to reception will usually reap rewards.

Bear in mind, Editors and Editor’s in Chief aren’t always the best initial contacts to approach because they typically get inundated with emails and requests. It’s often better to find the details of the staff journalists covering the content most relevant to you and approaching them. Larger publications have what’s called “Commissioning Editors” and these are the people to pitch in to. Usually they deal with journalists pitching in, but there’s no harm in you doing this do. I’ll be covering how to pitch well in another article so look out for this.

It’s worth considering targeting the title’s website editorial staff as well as those in the magazine or newspaper as it’s often much easier to get content picked up for online use as there’s unlimited space, whereas a magazine only has a finite number of pages available per issue.

Don’t forget about freelance journalists too – these can be a fantastic way in. Twitter, LinkedIn – both can be very useful sources here. Start to follow #journorequest on Twitter and you’ll see what journalists are seeking, and responding to this can be an excellent, not to mention free, way of connecting to and building relationships with journalists.

3. Provide content they will want to use.

How do you know what information to give your chosen media? The first step is to be really clear on exactly what topics they cover.  It’s pretty straightforward to discover this – look at the content they already use, across as many of their media platforms as you can. Observing the regular content categories they have is quick way to gauge what’s called their “editorial pillars,” the key content their publication carries. By this I mean look at the primary content headings on a website, or contents’ page in a magazine. Hashtags they use on their socials can be a handy clue, too.

The second step is to look at the format of this content – length, tone – is it informal and friendly or more authoritative and serious, and if it tends to be more text led or image heavy. Also note if the content is typically presented as an interview, or a first person column, “Editor’s Pick,” a listicle (i.e. a Top 10 kind of piece) – this kind of thing.

By now you will know what topics they cover and in what style. Step three is to decide what information you want to communicate to these readers, that matches this, and pitch this in to the journalist or editor – or package into a press release. Do consider media titles always prefer to carry unique content – not information that’s been offered and taken up by their rivals, so you will need to create pitches and press releases that are tailored.

Pitches and press releases are usually sent as a simple, short email. I will cover creating these in detail in articles to follow, but essentially you need to communicate what your story is (the topic and specific angle), why it’s right for that title and is newsworthy for publication now – all in the most interesting way as possible.

It’s an art to make your pitches or press releases stand out for the right reasons when a journalist could receive hundreds of these a week, but, with some guidance and practice there’s no reason why you won’t be able to craft these as well as a PR agency and reap the considerable rewards press exposure can bring.

By: Lisa Curtiss / Entrepreneur Leadership Network VIP

Source: 3 Initial Steps to Doing Your Own PR and Getting Excellent Results

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Critics:

Public relations (PR) is the practice of deliberately managing the release and spread of information between an individual or an organization (such as a business, government agency, or a nonprofit organization) and the public in order to affect the public perception. Public relations (PR) and publicity differ in that PR is controlled internally, whereas publicity is not controlled and contributed by external parties.

Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. This differentiates it from advertising as a form of marketing communications. Public relations aims to create or obtain coverage for clients for free, also known as earned media, rather than paying for marketing or advertising. But in the early 21st century, advertising is also a part of broader PR activities.

An example of good public relations would be generating an article featuring a PR firm’s client, rather than paying for the client to be advertised next to the article. The aim of public relations is to inform the public, prospective customers, investors, partners, employees, and other stakeholders, and ultimately persuade them to maintain a positive or favorable view about the organization, its leadership, products, or political decisions.

Public relations professionals typically work for PR and marketing firms, businesses and companies, government, and public officials as public information officers and nongovernmental organizations, and nonprofit organizations. Jobs central to public relations include account coordinator, account executive, account supervisor, and media relations manager.

Public relations specialists establish and maintain relationships with an organization’s target audience, the media, relevant trade media, and other opinion leaders. Common responsibilities include designing communications campaigns, writing press releases and other content for news, working with the press, arranging interviews for company spokespeople, writing speeches for company leaders, acting as an organization’s spokesperson, preparing clients for press conferences, media interviews and speeches, writing website and social media content, managing company reputation (crisis management), managing internal communications, and marketing activities like brand awareness and event management.

Success in the field of public relations requires a deep understanding of the interests and concerns of each of the company’s many stakeholders. The public relations professional must know how to effectively address those concerns using the most powerful tool of the public relations trade, which is publicity.

Specific public relations disciplines include:

  • Financial public relations – communicating financial results and business strategy
  • Consumer/lifestyle public relations – gaining publicity for a particular product or service
  • Crisis communication – responding in a crisis
  • Internal communications – communicating within the company itself
  • Government relations – engaging government departments to influence public policy
  • Media relations – a public relations function that involves building and maintaining close relationships with the news media so that they can sell and promote a business.
  • Social Media/Community Marketing – in today’s climate, public relations professionals leverage social media marketing to distribute messages about their clients to desired target markets
  • In-house public relations – a public relations professional hired to manage press and publicity campaigns for the company that hired them.
  • ‘Black Hat PR’ – manipulating public profiles under the guise of neutral commentators or voices, or engaging to actively damage or undermine the reputations of the rival or targeted individuals or organizations.

See also

 

How Founder Coaching Can Lift Humanity up in the VC World

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The global entrepreneurship landscape is buried under the avalanche of news stories about founders securing multi-million-dollar funding to live out their dream of taking the world by storm.

But the heavy snowfall of cash falling from the venture capital sky may be blinding us to the struggles of startup owners along the way, especially those who are undertaking this expedition for the first time.

This is a trap that even the best of investors can fall into. Elite coach Ariane de Bonvoisin has experienced first hand that many venture capitalists and business leaders treat founders as superheroes who can brave anything without having a clue about their personal journeys.

“They’re investing in the company and not investing in the founder,” says Bonvoisin, an executive coach to top CEOs, startup founders, and VCs, who aspires to help clear the vision of investors so that they can better see the importance of coaching.

In her view, it is easy to forget that people are humans. “You give people the label of entrepreneur or founder, but it’s still just a role that people are in. You peel back the role, and that’s where you find the truth,” she told 150sec.

As someone who has sat on both sides of the table—having been an investor and an entrepreneur—she knows well that separating the founder from the business leads to a “dangerous” path that could threaten the survival of the business while sapping the morale of its owner.

Bonvoisin is a swimmer, a ski instructor, a long-distance runner, and a climber who has reached the summit of Mount Kilimanjaro and accompanied a group of students to Antarctica.

What perplexes her is that a professional athlete would never get a sponsor without having a coach because “it implies that they have talent” but a tech startup can attract millions of dollars in investment without any coaching attached to it.

“When you look at the acting world, you see that even multiple Academy Award winners still have acting coaches. They are still given a coach for every role they take without any question. It’s the same in the music industry,” she said.

Normalizing coaching.

Ariane has come across investment firms that refuse to invest in a company unless they have a coach but believes there is a long road ahead for coaching to become mainstream among investors.

However, as a wise man once said, even the longest journeys begin with a single step. And who knows it better than Bonvoisin who is featured in a documentary that follows a motorcycle excursion through the highest passes of the Indian Himalayas.

In the case of founder coaching, she argues the first step is to start shattering the taboo against seeking help.

“The perception is if you need a coach, you’re worried or scared or incompetent or are dealing with something you don’t really want to tell your investors,” Bonvoisin said, adding that she has worked with founders whose investors refused to pay for their coaching.

Asked what needs to be done to reduce this stigma, she said using facts and statistics to demonstrate the true impact of a coach can go a long way toward normalizing coaching “because we’re still in an industry that values results, money, growth, and success.”

For instance, she says, a founder can tell the investor they would have raised $1 million without a coach but managed to raise $5 million with the help of a coach or that they taught they were at the pre-seed stage without a coach but raised a Series A round with a coach.

Another example, according to her, is when the entrepreneur can explain they could not hire a VP of sales but a coach helped them bring someone on board that secured new clients and elevated the company’s position in the market.

Celebrating role models.

The other thing is to ask founders to talk about their personal and work-related struggles without shame or fear of judgment, added Bonvoisin, an author who has given a TED talk and keynoted Oprah Winfrey’s O You conference in 2013.

She thinks celebrating successful people who hire coaches—including famous Silicon Valley entrepreneurs and investors or executives at companies like Google or Facebook—is another link in the chain that can cause cracks in the taboo surrounding coaching.

Bonvoisin also feels the need for increased awareness about different types of coaching that exist.

“When people think of coaching in this industry, they think of it as life coaching or business coaching. To me, coaching is a lot broader than that. For example, investors can give founders a health coach. And there are people who have parenting coaches to help them build a startup with two kids at home that need home schooling.”

Return-on-coaching mindset.

Dedicating even 1 percent of the fund to facilitate founders’ access to coaching is a “brilliant” use of money, added Bonvoisin, who has been invited to Google, Amazon, the World Bank, and Red Bull to teach about navigating change and founder and startup wellness.

“It is a very small contribution that has the ability to massively affect the quality of your investment,” she said, emphasizing that there needs to be a return-on-coaching mindset—not just a return-on-investment mindset.

In her opinion, founders should be given the freedom and trust to choose their own coach without having to report the details of how they are using the coaching money because it would be an intrusion on their privacy.

However, investors can make some coaches available or put them on retainer for when founders are having a panic attack before an important meeting or need immediate help with a decision.

She maintains that coaching is crucial because it is a role entrepreneurs do not get from their family, friends, spouse, co-founders, or investors “from which they are usually hiding things.”

“When humanity gets lifted in both the investor side and the startup side, a very different conversation is possible, which is not just about ROI, KPIs, or fundraising goals. And what I’ve seen with the founders is that when the VC shows they care about the founder, the founder will run 10 more marathons for them.”

There needs to be a return-on-coaching mindset—not just a return-on-investment mindset.

~ Ariane de Bonvoisin

Common misconceptions.

As a Tony Robbins certified trainer who assists in a leadership capacity at his events around the world, Ariane can talk for hours and hours about common misconceptions about coaches and the process of coaching.

Many are under the assumption that coaching is expensive, she said, adding that it is also a false perception that a coach is all about the psychology of people and not the real guts of the business.

“A coach can have a bit more of a 360-degree view of the situation, ask questions that no one else is asking you about your business, and add tremendous value even without having direct experience in the industry in question.”

There are a large number of coaches who have worn many hats as founders and investors and can share their knowledge about different aspects of a business, she added.

Another thing she says some people get wrong is that a coach is “very soft and is like a friend that cheers you on or you cry with when you fall apart.”

But the reality is that coaching can be “direct, brutal, and honest” while offering “a very loving, kind, warm, trusting, and safe place to land” at the same time, added Ariane, who landed on the list of Silicon Alley’s top 100 people to watch a few years ago.

Coaching is not ‘surgery.’

Another prevailing myth, according to Bonvoisin, is that a coach is a temporary resource and is for when things are going badly.

“Some think that coaching is like a surgery and is just for a specific period of time when they are dealing with difficult decisions,” she said.

But coaching is a relationship where “you build something together with someone who is your raving fan”, added Ariane who has had her own coach for 17 years and says almost 80 percent of her clients have been with her for more than a year.

Another misbelief she knows from experience is that a coach should be older than the coachee or “is someone like you”.

Elaborating further, Bonvoisin said, “Some people think only coaches who have the same gender, race, or background can understand, coach, and relate to them and that someone totally different to them probably won’t be able to enter their world.”

This is a total myth as “someone who is different often stretches your identity, offers a new perspective and worldview, helps you see blind spots, and expands your beliefs,” Bonvoisin added.

In her world, coaching is like traveling.

“The more you travel to different places, the more you learn, grow, and expand your awareness and consciousness. If you take a plane to a faraway destination where you don’t speak the language and people look different to you and eat different things, what you learn will be exponential.”

People often look for what they are familiar and comfortable with so they gravitate to individuals who are like them, she said.

“It’s easier for people to fly from New York City to Miami for a ‘change of scenery’ than to Delhi. And yet Delhi will change them far more. The same metaphor applies to going on the adventure of coaching,” commented Ariane, who has lived and worked in different countries.

Coaching can be “direct, brutal, and honest” while offering “a very loving, kind, warm, trusting, and safe place to land” at the same time.

~ Ariane de Bonvoisin

As for gender-related misconceptions, she says some are under the impression that female coaches are too soft and emotional.

“But a female coach can sometimes read a situation much better, whether it’s intuitively or emotionally. I think, depending on different times in your life, you might need one or the other.”

Over the years, Bonvoisin has met people who want “really complicated things” and “strange techniques” to improve their performance.

“As human beings, we have resistance to the simple things. And sometimes the most simple tools in your toolbox are the ones that you’re not using—like drinking enough water or sleeping properly,” she noted, bringing to mind a quote from American author Jim Rohn that says “what’s simple to do is also simple not to do.”

How to choose a coach.

On how to choose the right coach, the CEO of Ariane Media said the best way to find a good one is by word of mouth.

While acknowledging that some coaches have gotten a bad rap, she maintains “it doesn’t mean all the apples in the coaching basket are rotten.”

“Definitely interview more than one. Most coaches offer a free introductory session. Do some due diligence on the coach. Ask them who they have coached, ask for testimonials, or ask to speak to other clients they’ve coached,” she told founders.

Bonvoisin says it is important to understand why they are a coach, what they love about coaching, what training they have had, what aspects of coaching they appreciate, why they think they have been an effective coach, what their gift is, and how they choose their coaching clients.

Entrepreneurs can also ask a coach whether they have any specific industry experience “if that’s important to you”, and how much they want to be involved in “your life aspect versus your business aspect,” she added.

Bonvoisin insists people should choose “a person that you’re going to trust more than anyone in your life without feeling judged by them.” She says it is not a good sign if “you don’t look forward to speaking to your coach or getting an email from them or if the coach is trying to impose a change on you and has too many strong opinions.”

“And then the ultimate thing I always go to at the end with everything is: What does your gut tell you? It really is an intuition thing. You can hear that someone’s been trained at Harvard and coached the founder of Google and has done a TED talk, but if it doesn’t feel right to you, it’s a no.”

‘You can’t fix what you can’t see.’

Reiterating the significance of coaching, Bonvoisin said some people “keep doing what they’ve always done and keep getting poor results because they can’t fix what they can’t see.”

“For example, you may not be able to see the way you’re asking for money. It may appear like you’re getting a lot of money until you work with a coach who’s going to show you not what your verbal communication is, but what your energetic communication is.”

She says a professional coach can help people realize their inner life is determining their outer life and that the way they are viewing the world is what is impacting the world they see.

The elite coach sees entrepreneurs as “master storytellers” who are telling a story to the outside world, to the press, to their clients, to their investors, to their colleagues, and to people they want to hire.

“And yet the most important story is the one you’re telling yourself,” Bonvoisin said, adding that a coach can help founders break free from the shackles of limiting beliefs and tell themselves a more “empowering” story.

Disclosure: This article mentions a client of an Espacio portfolio company.

Source: How Founder Coaching Can Lift Humanity up in the VC World

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References

Grant, Anthony M. (2005). “What is evidence-based executive, workplace, and life coaching?”. In Cavanagh, Michael J.; Grant, Anthony M.; Kemp, Travis (eds.). Evidence-based Coaching, Vol. 1: Theory, Research and Practice from the Behavioural Sciences. Bowen Hills, Queensland: Australian Academic Press. pp. 1–12. ISBN 9781875378579. OCLC 67766842.

Millions of Electric Cars are Coming What Happens To All The Dead Batteries

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The battery pack of a Tesla Model S is a feat of intricate engineering. Thousands of cylindrical cells with components sourced from around the world transform lithium and electrons into enough energy to propel the car hundreds of kilometers, again and again, without tailpipe emissions. But when the battery comes to the end of its life, its green benefits fade.

If it ends up in a landfill, its cells can release problematic toxins, including heavy metals. And recycling the battery can be a hazardous business, warns materials scientist Dana Thompson of the University of Leicester. Cut too deep into a Tesla cell, or in the wrong place, and it can short-circuit, combust, and release toxic fume.

That’s just one of the many problems confronting researchers, including Thompson, who are trying to tackle an emerging problem: how to recycle the millions of electric vehicle (EV) batteries that manufacturers expect to produce over the next few decades. Current EV batteries “are really not designed to be recycled,” says Thompson, a research fellow at the Faraday Institution, a research center focused on battery issues in the United Kingdom.

That wasn’t much of a problem when EVs were rare. But now the technology is taking off. Several carmakers have said they plan to phase out combustion engines within a few decades, and industry analysts predict at least 145 million EVs will be on the road by 2030, up from just 11 million last year. “People are starting to realize this is an issue,” Thompson says.

Governments are inching toward requiring some level of recycling. In 2018, China imposed new rules aimed at promoting the reuse of EV battery components. The European Union is expected to finalize its first requirements this year. In the United States, the federal government has yet to advance recycling mandates, but several states, including California—the nation’s largest car market—are exploring setting their own rules.

Complying won’t be easy. Batteries differ widely in chemistry and construction, which makes it difficult to create efficient recycling systems. And the cells are often held together with tough glues that make them difficult to take apart. That has contributed to an economic obstacle: It’s often cheaper for batterymakers to buy freshly mined metals than to use recycled materials.

Better recycling methods would not only prevent pollution, researchers note, but also help governments boost their economic and national security by increasing supplies of key battery metals that are controlled by one or a few nations. “On the one side, [disposing of EV batteries] is a waste management problem. And on the other side, it’s an opportunity for producing a sustainable secondary stream of critical materials,” says Gavin Harper, a University of Birmingham researcher who studies EV policy issues.

To jump-start recycling, governments and industry are putting money into an array of research initiatives. The U.S. Department of Energy (DOE) has pumped some $15 million into a ReCell Center to coordinate studies by scientists in academia, industry, and at government laboratories. The United Kingdom has backed the ReLiB project, a multi-institution effort. As the EV industry ramps up, the need for progress is becoming urgent, says Linda Gaines, who works on battery recycling at DOE’s Argonne National Laboratory. “The sooner we can get everything moving,” she says, “the better.

Now, recyclers primarily target metals in the cathode, such as cobalt and nickel, that fetch high prices. (Lithium and graphite are too cheap for recycling to be economical.) But because of the small quantities, the metals are like needles in a haystack: hard to find and recover.

To extract those needles, recyclers rely on two techniques, known as pyrometallurgy and hydrometallurgy. The more common is pyrometallurgy, in which recyclers first mechanically shred the cell and then burn it, leaving a charred mass of plastic, metals, and glues. At that point, they can use several methods to extract the metals, including further burning. “Pyromet is essentially treating the battery as if it were an ore” straight from a mine, Gaines says. Hydrometallurgy, in contrast, involves dunking battery materials in pools of acid, producing a metal-laden soup. Sometimes the two methods are combined.

Each has advantages and downsides. Pyrometallurgy, for example, doesn’t require the recycler to know the battery’s design or composition, or even whether it is completely discharged, in order to move ahead safely. But it is energy intensive. Hydrometallurgy can extract materials not easily obtained through burning, but it can involve chemicals that pose health risks.

And recovering the desired elements from the chemical soup can be difficult, although researchers are experimenting with compounds that promise to dissolve certain battery metals but leave others in a solid form, making them easier to recover. For example, Thompson has identified one candidate, a mixture of acids and bases called a deep eutectic solvent, that dissolves everything but nickel.

Both processes produce extensive waste and emit greenhouse gases, studies have found. And the business model can be shaky: Most operations depend on selling recovered cobalt to stay in business, but batterymakers are trying to shift away from that relatively expensive metal. If that happens, recyclers could be left trying to sell piles of “dirt,” says materials scientist Rebecca Ciez of Purdue University.

The ideal is direct recycling, which would keep the cathode mixture intact. That’s attractive to batterymakers because recycled cathodes wouldn’t require heavy processing, Gaines notes (although manufacturers might still have to revitalize cathodes by adding small amounts of lithium). “So if you’re thinking circular economy, [direct recycling] is a smaller circle than pyromet or hydromet.”

In direct recycling, workers would first vacuum away the electrolyte and shred battery cells. Then, they would remove binders with heat or solvents, and use a flotation technique to separate anode and cathode materials. At this point, the cathode material resembles baby powder.

So far, direct recycling experiments have only focused on single cells and yielded just tens of grams of cathode powders. But researchers at the U.S. National Renewable Energy Laboratory have built economic models showing the technique could, if scaled up under the right conditions, be viable in the future.

To realize direct recycling, however, batterymakers, recyclers, and researchers need to sort out a host of issues. One is making sure manufacturers label their batteries, so recyclers know what kind of cell they are dealing with—and whether the cathode metals have any value. Given the rapidly changing battery market, Gaines notes, cathodes manufactured today might not be able to find a future buyer. Recyclers would be “recovering a dinosaur. No one will want the product.”

Another challenge is efficiently cracking open EV batteries. Nissan’s rectangular Leaf battery module can take 2 hours to dismantle. Tesla’s cells are unique not only for their cylindrical shape, but also for the almost indestructible polyurethane cement that holds them together.

Engineers might be able to build robots that could speed battery disassembly, but sticky issues remain even after you get inside the cell, researchers note. That’s because more glues are used to hold the anodes, cathodes, and other components in place. One solvent that recyclers use to dissolve cathode binders is so toxic that the European Union has introduced restrictions on its use, and the U.S. Environmental Protection Agency determined last year that it poses an “unreasonable risk” to workers.“In terms of economics, you’ve got to disassemble … [and] if you want to disassemble, then you’ve got to get rid of glues,” says Andrew Abbott, a chemist at the University of Leicester and Thompson’s adviser.

To ease the process, Thompson and other researchers are urging EV- and batterymakers to start designing their products with recycling in mind. The ideal battery, Abbott says, would be like a Christmas cracker, a U.K. holiday gift that pops open when the recipient pulls at each end, revealing candy or a message. As an example, he points to the Blade Battery, a lithium ferrophosphate battery released last year by BYD, a Chinese EV-maker. Its pack does away with the module component, instead storing flat cells directly inside. The cells can be removed easily by hand, without fighting with wires and glues.

The Blade Battery emerged after China in 2018 began to make EV manufacturers responsible for ensuring batteries are recycled. The country now recycles more lithium-ion batteries than the rest of the world combined, using mostly pyro- and hydrometallurgical methods.

Nations moving to adopt similar policies face some thorny questions. One, Thompson says, is who should bear primary responsibility for making recycling happen. “Is it my responsibility because I bought [an EV] or is it the manufacturer’s responsibility because they made it and they’re selling it?” In the European Union, one answer could come later this year, when officials release the continent’s first rule. And next year a panel of experts created by the state of California is expected to weigh in with recommendations that could have a big influence over any U.S. policy.

Recycling researchers, meanwhile, say effective battery recycling will require more than just technological advances. The high cost of transporting combustible items long distances or across borders can discourage recycling. As a result, placing recycling centers in the right places could have a “massive impact,” Harper says. “But there’s going to be a real challenge in systems integration and bringing all these different bits of research together.”

There’s little time to waste, Abbott says. “What you don’t want is 10 years’ worth of production of a cell that is absolutely impossible to pull apart,” he says. “It’s not happening yet—but people are shouting and worried it will happen.

By Ian Morse

Source: Millions of electric cars are coming. What happens to all the dead batteries? | Science | AAAS

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References

Best, Paul (19 November 2020). “GM doubles down on commitment to electric vehicles, increases spending to $27B”. FOXBusiness. Retrieved 20 November 2020.

World Economy is Suddenly Running Low on Everything

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A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously trying to stock up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The frenzy is pushing supply chains to the brink of seizing up. Shortages, transportation bottlenecks and price spikes are nearing the highest levels in recent memory, raising concern that a supercharged global economy will stoke inflation.

Copper, iron ore and steel. Corn, coffee, wheat and soybeans. Lumber, semiconductors, plastic and cardboard for packaging. The world is seemingly low on all of it. “You name it, and we have a shortage on it,” Tom Linebarger, chairman and chief executive of engine and generator manufacturer Cummins Inc., said on a call this month. Clients are “trying to get everything they can because they see high demand,” Jennifer Rumsey, the Columbus, Indiana-based company’s president, said.“They think it’s going to extend into next year.”

The difference between the big crunch of 2021 and past supply disruptions is the sheer magnitude of it, and the fact that there is — as far as anyone can tell — no clear end in sight. Big or small, few businesses are spared. Europe’s largest fleet of trucks, Girteka Logistics, says there’s been a struggle to find enough capacity. Monster Beverage Corp. of Corona, California, is dealing with an aluminum can scarcity. Hong Kong’s MOMAX Technology Ltd. is delaying production of a new product because of a dearth of semiconductors.

Further exacerbating the situation is an unusually long and growing list of calamities that have rocked commodities in recent months. A freak accident in the Suez Canal backed up global shipping in March. Drought has wreaked havoc upon agricultural crops. A deep freeze and mass blackout wiped out energy and petrochemicals operations across the central U.S. in February. Less than two weeks ago, hackers brought down the largest fuel pipeline in the U.S., driving gasoline prices above $3 a gallon for the first time since 2014. Now India’s massive Covid-19 outbreak is threatening its biggest ports.

For anyone who thinks it’s all going to end in a few months, consider the somewhat obscure U.S. economic indicator known as the Logistics Managers’ Index. The gauge is built on a monthly survey of corporate supply chiefs that asks where they see inventory, transportation and warehouse expenses — the three key components of managing supply chains — now and in 12 months. The current index is at its second-highest level in records dating back to 2016, and the future gauge shows little respite a year from now. The index has proven unnervingly accurate in the past, matching up with actual costs about 90% of the time.

To Zac Rogers, who helps compile the index as an assistant professor at Colorado State University’s College of Business, it’s a paradigm shift. In the past, those three areas were optimized for low costs and reliability. Today, with e-commerce demand soaring, warehouses have moved from the cheap outskirts of urban areas to prime parking garages downtown or vacant department-store space where deliveries can be made quickly, albeit with pricier real estate, labor and utilities.

Once viewed as liabilities before the pandemic, fatter inventories are in vogue. Transport costs, more volatile than the other two, won’t lighten up until demand does. “Essentially what people are telling us to expect is that it’s going to be hard to get supply up to a place where it matches demand,” Rogers said, “and because of that, we’re going to continue to see some price increases over the next 12 months.” More well-known barometers are starting to reflect the higher costs for households and companies. An index of U.S. consumer prices that excludes food and fuel jumped in April from a month earlier by the most since 1982. At the factory gate, the increase in prices charged by American producers was twice as large as economists expected. Unless companies pass that cost along to consumers and boost productivity, it’ll eat into their profit margins.

A growing chorus of observers are warning that inflation is bound to quicken. The threat has been enough to send tremors through world capitals, central banks, factories and supermarkets. The U.S. Federal Reserve is facing new questions about when it will hike rates to stave off inflation — and the perceived political risk already threatens to upset President Joe Biden’s spending plans.“You bring all of these factors in, and it’s an environment that’s ripe for significant inflation, with limited levers” for monetary authorities to pull, said David Landau, chief product officer at BluJay Solutions, a U.K.-based logistics software and services provider.

Policy makers, however, have laid out a number of reasons why they don’t expect inflationary pressures to get out of hand. Fed Governor Lael Brainard said recently that officials should be “patient through the transitory surge.” Among the reasons for calm: The big surges lately are partly blamed on skewed comparisons to the steep drops of a year ago, and many companies that have held the line on price hikes for years remain reticent about them now. What’s more, U.S. retail sales stalled in April after a sharp rise in the month earlier, and commodities prices have recently retreated from multi-year highs.

Caught in the crosscurrents is Dennis Wolkin, whose family has run a business making crib mattresses for three generations. Economic expansions are usually good for baby bed sales. But the extra demand means little without the key ingredient: foam padding. There has been a run on the kind of polyurethane foam Wolkin uses — in part because of the deep freeze across the U.S. South in February, and because of “companies over-ordering and trying to hoard what they can.”

“It’s gotten out of control, especially in the past month,” said Wolkin, vice president of operations at Atlanta-based Colgate Mattress, a 35-employee company that sells products at Target stores and independent retailers. “We’ve never seen anything like this.”Though polyurethane foam is 50% more expensive than it was before the Covid-19 pandemic, Wolkin would buy twice the amount he needs and look for warehouse space rather than reject orders from new customers. “Every company like us is going to overbuy,” he said. Even multinational companies with digital supply-management systems and teams of people monitoring them are just trying to cope. Whirlpool Corp. CEO Marc Bitzer told Bloomberg Television this month its supply chain is “pretty much upside down” and the appliance maker is phasing in price increases. Usually Whirlpool and other large manufacturers produce goods based on incoming orders and forecasts for those sales. Now it’s producing based on what parts are available.

“It is anything but efficient or normal, but that is how you have to run it right now,” Bitzer said. “I know there’s talk of a temporary blip, but we do see this elevated for a sustained period.” The strains stretch all the way back to global output of raw materials and may persist because the capacity to produce more of what’s scarce — with either additional capital or labor — is slow and expensive to ramp up. Read more…..
By Brendan Murray, Enda Curran, Kim Chipman, Bloomberg

Source: World economy: World economy is suddenly running low on everything – The Economic Times

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References

“Research and development expenditure (% of GDP) | Data”. data.worldbank.org. Retrieved 12 December 2017

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