Hedge Fund Launches Are Surging

1

In the first quarter of 2021, 189 new hedge funds were launched, the highest number since the end of 2017, according to data from Hedge Fund Research.

In the fourth quarter of 2017, 190 hedge funds were started. Since then, the number of launches has been consistently lower, hitting its lowest in the first quarter of 2020 with a total of 84 launches and 304 liquidations.

“The only ones that did get launched [that quarter] were before March,” Kenneth Heinz, president of HFR, told Institutional Investor.

Heinz attributed the newfound surge in launches to three factors: performance, inflation, and risk aversion. According to a statement, the top decile of hedge funds tracked by HFR gained 126.8 percent in the 12-month period ending in the first quarter of 2021. In this quarter alone, the top decile gained 29.7 percent.

Institutional investors are also looking to hedge against inflation, Heinz said. “As the world emerges from the lockdown, inflation is present, and it will continue to build,” he said. “The different strategies provide great protection from inflation.”

These strategies include equity hedge funds and event-driven funds. As of the first quarter of 2021, the greatest portion of industry assets — 30.42 percent — were invested in equity hedge funds. Event-driven funds came in second with 27.53 percent of total industry assets.

Heinz said these particular strategies are appealing to investors because they provide exposure to some hot “meme” stocks. Plus, as the world emerges from a global quarantine, he said there is a large appetite for strategic activity in mergers and acquisitions — a strong point for event-driven funds.

Since the first quarter of 2020 and the onset of the Covid-19 pandemic, Heinz said investors have left their risk complacency in 2019. Heinz said 2019 was a “super beta year,” prompting inventors to worry less about risk and more about returns.

“I liken 2019 to the easiest year in the world to make money because everything went up,” Heinz said. “But then March reminded investors they had become complacent about risk.”

As they move into the new year and recover from the pandemic, investors have taken more defensive positioning against risks that were overlooked in 2019. As for the future of the hedge fund industry, Heinz said he believes the market has entered a period of expansion.

“Even though the markets have recovered and they’ve gone back to record highs, I think institutions that are allocating are still very much more cognizant of risk than they were prior to the first quarter of 2020,” he said. “I think that’s the reason that you’re seeing more capital inflows and more funds launching.”

https://i0.wp.com/onlinemarketingscoops.com/wp-content/uploads/2021/07/Hamlin.jpg?resize=79%2C79&ssl=1

By: Jessica Hamlin

Source: Hedge Fund Launches Are Surging | Institutional Investor

.

Critics:

A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing except to institutional investors, high net worth individuals and others who are considered sufficiently sophisticated.

Hedge funds are regarded as alternative investments. Their ability to make more extensive use of leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, such as mutual funds and ETFs. They are also considered distinct from private-equity funds and other similar closed-end funds.

As hedge funds generally invest in relatively liquid assets and are generally open-ended, meaning that they allow investors to invest and withdraw capital periodically based on the fund’s net asset value, whereas private-equity funds generally invest in illiquid assets and only return capital after a number of years. However, other than a fund’s regulatory status there are no formal or fixed definitions of fund types, and so there are different views of what can constitute a “hedge fund”.

Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto

Anthony Di Iorio, a co-founder of the Ethereum network, says he’s done with the cryptocurrency world, partially because of personal safety concerns.

Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc., and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.

“It’s got a risk profile that I am not too enthused about,” said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. “I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

Back in 2013, Di Iorio co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralized finance — which lets people borrow, lend and trade with each other without intermediaries like banks. Ether, the native token of the network, has a market value of about $225 billion.

He made a splash in 2018 when buying the largest and one of the most expensive condos in Canada, paying for it partly with digital money. Di Iorio purchased the three-story penthouse for C$28 million ($22 million) at the St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, Di Iorio jumped into venture-capital investing and startup advising. He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralized technologies, and the maker of Jaxx, a digital asset wallet that garnered about 1 million customers this year.

Di Iorio said he has talked with a couple of potential investors, and believes the startup will be valued at “hundreds of millions.” He expects to sell the company for fiat, or equity in another company — not crypto.

“I want to diversify to not being a crypto guy, but being a guy tackling complex problems,” Di Iorio said. He is involved in Project Arrow, run by a high-school friend that’s building a zero-emission vehicle. He is also consulting a senator from Paraguay.

“I will incorporate crypto when needed, but a lot of times, it’s not,” he said. “It’s really a small percentage of what the world needs.”

Source: Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto – Bloomberg

.

Critics:

Anthony Di Iorio is a Canadian entrepreneur primarily known as a co-founder of Ethereum and an early investor in Bitcoin. Di Iorio is the founder and CEO of the blockchain company Decentral, and the associated Jaxx wallet. He also served as the first chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth at $750 million–$1 billion.

Di Iorio grew up with two older siblings in north Toronto, Ontario. He graduated with a degree in marketing from Ryerson University. Di Iorio began developing websites during the early 1990s, and eventually entered the rental housing market as an investor and landlord in Toronto, Ontario. In 2012 he sold his rental properties in order to invest in Bitcoin, and began to organize companies in the field of cryptocurrency.

He first learned about bitcoin from a podcast called Free Talk Live in 2012. According to The Globe and Mail, he “had an anti-authoritarian streak” and  questioned “the fundamentals of mainstream economics.” Di Iorio bought his first bitcoin the same day for $9.73. He created the Toronto Bitcoin Meetup Group which held its first meeting at a pub in the same year.

It was at this first meeting where he met Vitalik Buterin who went on to be the founder of Bitcoin Magazine and one of the original creators of Ethereum. As the Meetups grew from about eight attendees to hundreds, Di Iorio formed the Bitcoin Alliance of Canada.

References:

Here’s Why A Standoff Between Oil Producers Is Fueling Surging Gas Prices

Oil Prices Hit Historic High On Weak Dollar

As oil prices spike to a nearly three-year high, a bitter disagreement between international oil producers has shattered hopes for a deal to increase oil production this year—thereby threatening to further hike up rising oil and gas prices as a broad economic reopening looks to ramp up travel demand.

Key Facts

Following two days of fraught discussions last week, the group of oil producers known as OPEC+ called off an afternoon meeting Monday and set no date to meet again, effectively suspending a planned agreement to raise output by 2 million barrels per day from August to December

Two unnamed sources told Reuters the failed negotiations mean the expected production hikes this year will no longer occur.

The price of U.S. oil benchmark West Texas Intermediate—at about $75.31 a barrel—jumped 1.3% Monday after the news and has climbed 5% over the past week’s disagreement, while the price of the United Kingdom’s Brent Crude ticked up 1.1% and 4%, respectively.

The United Arab Emirates, which has invested heavily in its oil production capacity, refused to move forward with the deal because it would also extend oil production cuts through late 2022.

Though the UAE wants to raise its output unconditionally, Saudi Arabian oil producers, who supported the agreement, argued the extended output cuts are necessary to prevent excess oil supply that could tank prices.

The production increase was meant to help curb rising oil prices and buy producers time while they assess the risk of rapidly spreading variants in countries like India once again hurting demand and shuttering economies.

Big Number

60%. That’s how much the price of WTI oil has surged this year alone, while the price of Brent Crude has climbed about 50%.

Tangent

Oil prices crashed last year but recouped all their pandemic losses by March, and they’ve surged roughly 20% higher since. After cutting production by about 10 million barrels per day last year, oil producers are still supplying about 5.8 million fewer barrels per day than before the pandemic. Most recently, OPEC+ in early June agreed to increase oil output by 450,000 barrels per day starting this month.

Key Background

Despite the easing of lockdowns and an accelerating vaccine rollout, producers have been careful to ramp up supply after excess inventories drove prices down to negative territory for the first time in history last spring. That happened after an all-out price war erupted between oil-producing giants Russia and Saudi Arabia in March 2020—just as travel demand began to plummet during the coronavirus outbreak.

Costly-to-maintain storage tanks soon filled up with no buyers, and the price of one American oil futures contract plunged below zero in April 2020. OPEC and its allies agreed to cut production in order to stabilize prices amid the turmoil, but according to the International Energy Agency, those inventories are still being worked off to this day.

Further Reading

OPEC+ resumes oil policy talks amid Saudi-UAE standoff (Reuters)

Oil Producers Agree To Boost Production By 450,000 Barrels Per Day As Travel Picks Up (Forbes)

OPEC Plus Agrees To Ramp Up Production By 500,000 Barrels Per Day Starting January, Ending Bitter Standoff In Bid To Save Oil Prices (Forbes)

Follow me on Twitter. Send me a secure tip.

I’m a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC’s Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com. And follow me on Twitter @Jon_Ponciano

Source: Here’s Why A Standoff Between Oil Producers Is Fueling Surging Gas Prices

.

References

Why Is China Cracking Down on Ride-Hailing Giant Didi?

Just days after Didi Global Inc., China’s version of Uber, pulled off a $4.4 billion initial public offering in New York, the Chinese cyberspace regulator effectively ordered it removed from app stores in its home market, citing security risks. The ruling doesn’t stop the company from operating -– its half-billion or so existing users will still be able to order rides for now. But it adds to the uncertainty surrounding all Chinese internet companies as regulators increasingly assert control over Big Tech.

1. What’s Didi?

It’s China’s biggest ride-hailing company. Didi squeezed Uber out of China five years ago, buying out the American company’s operations after an expensive price war. Its blockbuster IPO on June 30 was the second-biggest in the U.S. by a company based in China, after Alibaba Group Holding Ltd, giving Didi a market value of about $68 billion.

Accounting for stock options and restricted stock units, the company’s diluted value exceeds $71 billion — well below estimates of up to $100 billion as recently as a few months ago. The relatively modest showing reflects both investors’ increasing caution over pricey growth stocks, and China’s recent crackdown on its biggest tech players.

2. What is this investigation about?

The specifics are still very unclear. Two days after the IPO, the Cyberspace Administration of China said it’s starting a cybersecurity review of the company to prevent data security risks, safeguard national security and protect the public interest. Two days after that it said Didi had committed serious violations in the collection and usage of personal information and ordered the app pulled. There are no details on what precisely the investigation centers on, when or where the alleged violations occurred or whether there will be more penalties to come.

3. Are there any hints?

The Global Times, a Communist Party-backed newspaper, wrote in an editorial that Didi undoubtedly has the most detailed travel information on individuals among large internet firms and appears to have the ability to conduct “big data analysis” of individual behaviors and habits. To protect personal data as well as national security, China must be even stricter in its oversight of Didi’s data security, given that it’s listed in the U.S. and its two largest shareholders are foreign companies, it added.

4. Is it just Didi?

No. The Chinese internet regulator has widened its probe to two more U.S.-listed companies, targeting Full Truck Alliance Co. and Kanzhun Ltd. soon after launching the review into Didi.

5. Was this out of the blue?

No. In May, China’s antitrust regulator ordered Didi and nine other leaders in on-demand transport to overhaul practices from arbitrary price hikes to unfair treatment of drivers. More broadly, Beijing is in the process of a sweeping crackdown on the nation’s Big Tech firms designed to curb their growing influence.

In November 2020 the authorities derailed the planned IPO of fintech giant Ant Group Co. and in April hit Alibaba with a record $2.8 billion fine after an antitrust probe found it had abused its market dominance. Didi, however, said on Monday it was unaware of China’s decision to halt registrations and remove the app from app stores before its listing.

6. Why does Didi matter?

You can’t really overstate just how dominant Didi is in ride hailing in China, accounting for 88% of total trips in the fourth quarter of 2020. When Didi bought Uber’s Chinese operations in 2016, Uber took a stake in the company that currently stands at 12%. Didi’s U.S. IPO was shepherded by a who’s who of Wall Street banks. Its largest shareholder is Japan’s SoftBank Group Corp. with more than 20%, and others include Chinese social networking colossus Tencent Holdings Ltd. However, due to Didi’s ownership structure, Chief Executive Officer Cheng Wei and President Jean Liu control more than 50% of the voting power.

7. How’s the company doing?

While Didi had a net loss of $1.6 billion on revenue of $21.6 billion last year, according to its filings with the U.S. Securities and Exchange Commission, its diversity cushioned it against the worst of the pandemic downturn. The company reported net income of $837 million in the first quarter of 2021. With growth in its core market beginning to slow, it has expanded rapidly into fields from car repairs to grocery delivery and has pumped hundreds of millions into researching autonomous driving technology. It’s also said to be planning to expand services into Western Europe.

8. What happens now?

On Didi specifically the critical question is what the review regarding user data finds. But analysts are already looking at the likely wider impact. Key issues are whether the action is likely to discourage other Chinese tech firms from embarking on an overseas listing, and whether the action marks a new direction for the regulatory crackdown. Didi itself said in a statement in would fully cooperate with the review. It warned though that the removal of the app for new users may have an adverse affect on revenue.

Based on the laws cited by the regulators, Didi is probably being investigated over its purchase of certain products and services from other suppliers, which may threaten national data security, according to analysts from Shenzhen-based Ping An Securities. “Didi will inevitably have to check its core network equipment, high-performance computers and servers, large-capacity storage equipment, large databases and application software, network security equipment, and cloud computing services, sort them out and make necessary rectifications to meet regulatory requirements,” the analysts wrote in a note on Monday.

Yang Sirui, chief analyst for the computer industry at Bank of China International, said that Didi went for its public listing in the US hastily, probably due to investor pressure. “Listing Didi as soon as possible meets the demands of the capital,” he said. “But if [Didi] had arbitrarily collected user privacy data, abused it, or monetized it illicitly, it will inevitably be punished by Chinese regulators.” Since its founding in 2012, Didi has undergone a number of private fundraising rounds, raising tens of billions of dollars from venture capital or major tech firms. According to its IPO prospectus, SoftBank Vision Fund is currently the largest shareholder of Didi, with a 21.5% stake. Uber (UBER) and Tencent (TCEHY) followed with a 12.8% and 6.8% stake respectively.

The Reference Shelf

— With assistance by Coco Liu, Molly Schuetz, Abhishek Vishnoi, and Colum Murphy

By:

Source: Why China is Citing Security Risks in Crack Down on $UBER rival $DIDI – Bloomberg

.

Critics:

Didi is a Chinese vehicle for hire company headquartered in Beijing with over 550 million users and tens of millions of drivers. The company provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing, and bike sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging, and co-development of vehicles with automakers.

In March 2017, the Wall Street Journal reported that SoftBank Group Corporation approached DiDi with an offer to invest $6 billion in the company to fund the ride-hailing firm’s expansion in self-driving car technologies, with a significant portion of the money to come from SoftBank’s then-planned $100 billion Vision Fund.

DiDi claims that it provides over tens of millions of flexible job opportunities for people, including a considerable number of women, laid-off workers and veteran soldiers. Based on a survey released by DiDi in March 2019, women rideshare drivers in Brazil, China and Mexico account for 16.7%, 7.4% and 5.6% of total rideshare drivers on its platforms, respectively. DiDi supports more than 4,000 innovative SMEs, which provides more than 20,000 jobs additionally.

40% of DiDi’s employees are women. In 2017, DiDi launched a female career development plan and established the “DiDi Women’s Network”. It is reportedly the first female-oriented career development plan in a major Chinese Internet company.

References

The Health Benefits of Coffee

Americans sure love their coffee. Even last spring when the pandemic shut down New York, nearly every neighborhood shop that sold takeout coffee managed to stay open, and I was amazed at how many people ventured forth to start their stay-at-home days with a favorite store-made brew.

One elderly friend who prepandemic had traveled from Brooklyn to Manhattan by subway to buy her preferred blend of ground coffee arranged to have it delivered. “Well worth the added cost,” she told me. I use machine-brewed coffee from pods, and last summer when it seemed reasonably safe for me to shop I stocked up on a year’s supply of the blends I like. (Happily, the pods are now recyclable.)

All of us should be happy to know that whatever it took to secure that favorite cup of Joe may actually have helped to keep us healthy. The latest assessments of the health effects of coffee and caffeine, its main active ingredient, are reassuring indeed. Their consumption has been linked to a reduced risk of all kinds of ailments, including Parkinson’s disease, heart disease, Type 2 diabetes, gallstones, depression, suicide, cirrhosis, liver cancer, melanoma and prostate cancer.

In fact, in numerous studies conducted throughout the world, consuming four or five eight-ounce cups of coffee (or about 400 milligrams of caffeine) a day has been associated with reduced death rates. In a study of more than 200,000 participants followed for up to 30 years, those who drank three to five cups of coffee a day, with or without caffeine, were 15 percent less likely to die early from all causes than were people who shunned coffee. Perhaps most dramatic was a 50 percent reduction in the risk of suicide among both men and women who were moderate coffee drinkers, perhaps by boosting production of brain chemicals that have antidepressant effects.

As a report published last summer by a research team at the Harvard School of Public Health concluded, although current evidence may not warrant recommending coffee or caffeine to prevent disease, for most people drinking coffee in moderation “can be part of a healthy lifestyle.”

It wasn’t always thus. I’ve lived through decades of sporadic warnings that coffee could be a health hazard. Over the years, coffee’s been deemed a cause of conditions such as heart disease, stroke, Type 2 diabetes, pancreatic cancer, anxiety disorder, nutrient deficiencies, gastric reflux disease, migraine, insomnia, and premature death. As recently as 1991, the World Health Organization listed coffee as a possible carcinogen. In some of the now-discredited studies, smoking, not coffee drinking (the two often went hand-in-hand) was responsible for the purported hazard.

“These periodic scares have given the public a very distorted view,” said Dr. Walter C. Willett, professor of nutrition and epidemiology at the Harvard T.H. Chan School of Public Health. “Overall, despite various concerns that have cropped up over the years, coffee is remarkably safe and has a number of important potential benefits.”

That’s not to say coffee warrants a totally clean bill of health. Caffeine crosses the placenta into the fetus, and coffee drinking during pregnancy can increase the risk of miscarriage, low birth weight and premature birth. Pregnancy alters how the body metabolizes caffeine, and women who are pregnant or nursing are advised to abstain entirely, stick to decaf or at the very least limit their caffeine intake to less than 200 milligrams a day, the amount in about two standard cups of American coffee.

The most common ill effect associated with caffeinated coffee is sleep disturbance. Caffeine locks into the same receptor in the brain as the neurotransmitter adenosine, a natural sedative. Dr. Willett, a co-author of the Harvard report, told me, “I really do love coffee, but I have it only occasionally because otherwise I don’t sleep very well. Lots of people with sleep problems don’t recognize the connection to coffee.”

In discussing his audiobook on caffeine with Terry Gross on NPR last winter, Michael Pollan called caffeine “the enemy of good sleep” because it interferes with deep sleep. He confessed that after the challenging task of weaning himself from coffee, he “was sleeping like a teenager again.”

Dr. Willett, now 75, said, “You don’t have to get to zero consumption to minimize the impact on sleep,” but he acknowledged that a person’s sensitivity to caffeine “probably increases with age.” People also vary widely in how rapidly they metabolize caffeine, enabling some to sleep soundly after drinking caffeinated coffee at dinner while others have trouble sleeping if they have coffee at lunch. But even if you can fall asleep readily after an evening coffee, it may disrupt your ability to get adequate deep sleep, Mr. Pollan states in his forthcoming book, “This Is Your Mind on Plants.”

Dr. Willett said it’s possible to develop a degree of tolerance to caffeine’s effect on sleep. My 75-year-old brother, an inveterate imbiber of caffeinated coffee, claims it has no effect on him. However, acquiring a tolerance to caffeine could blunt its benefit if, say, you wanted it to help you stay alert and focused while driving or taking a test.

Caffeine is one of more than a thousand chemicals in coffee, not all of which are beneficial. Among others with positive effects are polyphenols and antioxidants. Polyphenols can inhibit the growth of cancer cells and lower the risk of Type 2 diabetes; antioxidants, which have anti-inflammatory effects, can counter both heart disease and cancer, the nation’s leading killers.

None of this means coffee is beneficial regardless of how it’s prepared. When brewed without a paper filter, as in French press, Norwegian boiled coffee, espresso or Turkish coffee, oily chemicals called diterpenes come through that can raise artery-damaging LDL cholesterol. However, these chemicals are virtually absent in both filtered and instant coffee. Knowing I have a cholesterol problem, I dissected a coffee pod and found a paper filter lining the plastic cup. Whew!

Also countering the potential health benefits of coffee are popular additions some people use, like cream and sweet syrups, that can convert this calorie-free beverage into a calorie-rich dessert. “All the things people put into coffee can result in a junk food with as many as 500 to 600 calories,” Dr. Willett said. A 16-ounce Starbucks Mocha Frappuccino, for example, has 51 grams of sugar, 15 grams of fat (10 of them saturated) and 370 calories.

With iced coffee season approaching, more people are likely to turn to cold-brew coffee. Now rising in popularity, cold brew counters coffee’s natural acidity and the bitterness that results when boiling water is poured over the grounds. Cold brew is made by steeping the grounds in cold water for several hours, then straining the liquid through a paper filter to remove the grounds and harmful diterpenes and keep the flavor and caffeine for you to enjoy. Cold brew can also be made with decaffeinated coffee.

Decaf is not totally without health benefits. As with caffeinated coffee, the polyphenols it contains have anti-inflammatory properties that may lower the risk of Type 2 diabetes and cancer.

Jane E. Brody

 

 

Source: The Health Benefits of Coffee – The New York Times

Contents to read:

Four out of five people say that they suffer from sleep problems at least once a week and wake up feeling exhausted. Here’s a guide to becoming a more successful sleeper.

Stretching and meditative movement like yoga before bed can improve the quality of your sleep and the amount you sleep. Try this short and calming routine of 11 stretches and exercises.

Nearly 40 percent of people surveyed in a recent study reported having more or much more trouble than usual during the pandemic. Follow these seven simple steps for improving your shut-eye.

When it comes to gadgets that claim to solve your sleep problems, newer doesn’t always mean better. Here are nine tools for better, longer sleep.

.

Critics:

Coffee is a brewed drink prepared from roasted coffee beans, the seeds of berries from certain Coffea species. All fruit must be further processed from a raw material—the fruit and seed—into a stable, raw product; un-roasted, green coffee. To process the berries, the seed is separated from the fruit to produce green coffee. Green coffee is then roasted, a process which transforms the raw product (green coffee) into a consumable product (roasted coffee). Roasted coffee is ground into a powder and mixed with water to produce a cup of coffee.

Coffee is darkly colored, bitter, slightly acidic and has a stimulating effect in humans, primarily due to its caffeine content. It is one of the most popular drinks in the world, and can be prepared and presented in a variety of ways (e.g., espresso, French press, caffè latte, or already-brewed canned coffee). It is usually served hot, although chilled or iced coffee is common. Sugar, sugar substitutes, milk or cream are often used to lessen the bitter taste. It may be served with coffee cake or another sweet dessert like doughnuts. A commercial establishment that sells prepared coffee beverages is known as a coffee shop (not to be confused with Dutch coffeeshops selling cannabis).

Market volatility, and thus increased returns, during 1830 encouraged Brazilian entrepreneurs to shift their attention from gold to coffee, a crop hitherto reserved for local consumption. Concurrent with this shift was the commissioning of vital infrastructures, including approximately 7,000 km of railroads between 1860 and 1885. The creation of these railways enabled the importation of workers, in order to meet the enormous need for labor. This development primarily affected the State of Rio de Janeiro, as well as the Southern States of Brazil, most notably São Paulo, due to its favorable climate, soils, and terrain.

See also

Organizations:

The 3 Biggest Mistakes the Board Can Make Around Cyber Security

The role of the Board in relation to cyber security is a topic we have visited several times since 2015, first in the wake of the TalkTalk data breach in the UK, then in 2019 following the WannaCry and NotPeyta outbreaks and data breaches at BA, Marriott and Equifax amongst others. This is also a topic we have been researching with techUK, and that collaboration resulted in the start of their Cyber People series and the production of the “CISO at the C-Suite” report at the end of 2020.

Overall, although the topic of cyber security is now definitely on the board’s agenda in most organisations, it is rarely a fixed item. More often than not, it makes appearances at the request of the Audit & Risk Committee or after a question from a non-executive director, or – worse – in response to a security incident or a near-miss.

All this hides a pattern of recurrent cultural and governance attitudes which could be hindering cyber security more than enabling it. There are 3 big mistakes the Board needs to avoid to promote cyber security and prevent breaches.

1- Downgrading it

“We have bigger fishes to fry…”

Of course, each organisation is different and the COVID crisis is affecting each differently – from those nearing collapse, to those which are booming. But pretending that the protection of the business from cyber threats is not a relevant board topic now borders on negligence and is certainly a matter of poor governance which non-executive directors have a duty to pick up.

Cyber attacks are in the news every week and have been the direct cause of millions in direct losses and hundreds of millions in lost revenues in many large organisations across almost all industry sectors.

Data privacy regulators have suffered setbacks in 2020: They have been forced to adjust down some of their fines (BA, Marriott), and we have also seen a first successful challenge in Austria leading to a multi-million fine being overturned (EUR 18M for Austrian Post). Nevertheless, fines are now reaching the millions or tens of millions regularly; still very far from the 4% of global turnover allowed under the GDPR, but the upwards trend is clear as DLA Piper highlighted in their 2021 GDPR survey, and those number should register on the radar of most boards.

Finally, the COVID crisis has made most businesses heavily dependent on digital services, the stability of which is built on sound cyber security practices, in-house and across the supply chain.

Cyber security has become as pillar of the “new normal” and even more than before, should be a regular board agenda, clearly visible in the portfolio of one member who should have part of their remuneration linked to it (should remuneration practices allow). As stated above, this is fast becoming a plain matter of good governance.

2- Seeing it as an IT problem

“IT is dealing with this…”

This is a dangerous stance at a number of levels.

First, cyber security has never been a purely technological matter. The protection of the business from cyber threats has always required concerted action at people, process and technology level across the organisation.

Reducing it to a tech matter downgrades the subject, and as a result the calibre of talent it attracts. In large organisations – which are intrinsically territorial and political – it has led for decades to an endemic failure to address cross-silo issues, for example around identity or vendor risk management – in spite of the millions spent on those matters with tech vendors and consultants.

So it should not be left to the CIO to deal with, unless their profile is sufficiently elevated within the organisation.

In the past, we have advocated alternative organisational models to address the challenges of the digital transformation and the necessary reinforcement of practices around data privacy in the wake of the GDPR. They remain current, and of course are not meant to replace “three-lines-of-defence” type of models.

But here again, caution should prevail. It is easy – in particular in large firms – to over-engineer the three lines of defence and to build monstrous and inefficient control models. The three lines of defence can only work on trust, and must bring visible value to each part of the control organisation to avoid creating a culture of suspicion and regulatory window-dressing.

3- Throwing money at it

“How much do we need to spend to get this fixed?”

The protection of the business from cyber threats is something you need to grow, not something you can buy – in spite of what countless tech vendors and consultants would like you to believe.

As a matter of fact, most of the breached organisations of the past few years (BA, Marriott, Equifax, Travelex etc… the list is long…) would have spent collectively tens or hundreds of millions on cyber security products over the last decades…

Where cyber security maturity is low and profound transformation is required, simply throwing money at the problem is rarely the answer.

Of course, investments will be required, but the real silver bullets are to be found in corporate culture and governance, and in the true embedding of business protection values in the corporate purpose: Something which needs to start at the top of the organisation through visible and credible board ownership of those issues, and cascade down through middle management, relayed by incentives and remuneration schemes.

This is more challenging than doing ad-hoc pen tests but it is the only way to lasting long-term success.

By: JC Gaillard

Source: The 3 Biggest Mistakes the Board Can Make Around Cyber Security – Business 2 Community

.

Critics:

A data breach is the intentional or unintentional release of secure or private/confidential information to an untrusted environment. Other terms for this phenomenon include unintentional information disclosure, data leak, information leakage and also data spill. Incidents range from concerted attacks by black hats, or individuals who hack for some kind of personal gain, associated with organized crime, political activist or national governments to careless disposal of used computer equipment or data storage media and unhackable source.

Definition: “A data breach is a security violation in which sensitive, protected or confidential data is copied, transmitted, viewed, stolen or used by an individual unauthorized to do so.”Data breaches may involve financial information such as credit card & debit card details, bank details, personal health information (PHI), Personally identifiable information (PII), trade secrets of corporations or intellectual property. Most data breaches involve overexposed and vulnerable unstructured data – files, documents, and sensitive information.

Data breaches can be quite costly to organizations with direct costs (remediation, investigation, etc) and indirect costs (reputational damages, providing cyber security to victims of compromised data, etc.)

According to the nonprofit consumer organization Privacy Rights Clearinghouse, a total of 227,052,199 individual records containing sensitive personal information were involved in security breaches in the United States between January 2005 and May 2008, excluding incidents where sensitive data was apparently not actually exposed.

Many jurisdictions have passed data breach notification laws, which requires a company that has been subject to a data breach to inform customers and takes other steps to remediate possible injuries.

A data breach may include incidents such as theft or loss of digital media such as computer tapes, hard drives, or laptop computers containing such media upon which such information is stored unencrypted, posting such information on the world wide web or on a computer otherwise accessible from the Internet without proper information security precautions, transfer of such information to a system which is not completely open but is not appropriately or formally accredited for security at the approved level, such as unencrypted e-mail, or transfer of such information to the information systems of a possibly hostile agency, such as a competing corporation or a foreign nation, where it may be exposed to more intensive decryption techniques.

ISO/IEC 27040 defines a data breach as: compromise of security that leads to the accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to protected data transmitted, stored or otherwise processed.

See also

Micro Investing’s Magic Lies in Helping Your Favorite College Grad (or You) Gain Confidence

Micro Investing's Magic Lies in Helping Your Favorite College Grad (or You) Gain Confidence

When you first graduate from college, you might not feel comfortable dumping lots of money into unknown stocks or ETFs. Even if you’re not a new college graduate, you may want to consider a different approach when you don’t have a lot of extra cash lying around. Why not try micro investing?

Micro investing takes the daunting feeling away from investing, and therein lies its true magic. Let’s take a look at what it can do for you and how it can find a place in your portfolio.

What is Micro Investing?

Put simply, when you micro invest, you invest using small amounts of money. In other words, you pony up money to buy fractional shares of stocks or ETFs instead of full shares.

As of today, a single share of Amazon (NASDAQ: AMZN) costs $3,383.87. You may know you can’t even afford one share of Amazon, much less two shares!

Enter micro investing apps. You can buy Amazon for a much smaller amount — even really small amounts, like $10. You can also buy multiple securities to aim for diversification (always a great thing!) and lower your risk in the long run.

Why Micro Invest?

Small amounts, compounded over time, can make an impact. Compound interest makes your money grow faster. You can calculate interest on accumulated interest as well as on your original principal. Compounding can create a snowball effect: The original investments plus the income earned from those investments both grow.

Let’s say you save $1 per day. Your $1 per day adds up to $365 a year. Instead of spending that $365, you could stick it into a micro investing app at 5% interest per year. Your small amount would grow to almost $466 by the end of five years. At the end of 30 years, the amount you originally invested would grow to $1,578.

If you micro invested even more, your investment could grow even faster.

How Does Micro Investing Work?

Have you ever heard of the app, Acorns, which invests small change for you? That’s micro investing. A micro investing app rounds up your purchases to the dollar or makes automatic transfers for you. Think of micro investing as “spare change investing” — many apps round up your transactions from a linked bank account and invest the difference.

In other words, let’s say you go to Chipotle and order a mega burrito with those delicious limey chips. You spend $10.34. The app would take your remaining $0.66 and invest it.

You don’t have to invest a lot to get started, either. Stash allows you to get started with just a penny. Interested in micro investing for your favorite college grad or yourself? Take a look at the following steps to get started with micro investing.

Step 1: Choose a micro investing app.

What’s often the hardest part? Choosing the right investment app. Often the most important question comes down to this: Do you want to get your hands directly on your investments or do you want an app to pilot and direct your money for you?

Quick overview: Acorns and Betterment put a portfolio together for you based on your preferences. Stash and Robinhood allow you to choose the direction you want your money to take by allowing you to choose your own investments.

You may want to choose an app that lets you steer the ship yourself, particularly if you want to take a DIY approach to your investments at some point.

Step 2: Input your information.

Once you’ve chosen a micro investing app, it’s time to let the robo-advisor do its job. You input information to your micro investing app that helps it “understand” how to put together the best portfolio for you. You input your age, income, goals and risk tolerance and it’ll allocate your investment dollars accordingly.

Your money will go into a portfolio of exchange-traded funds (ETFs) based on the level of risk you choose. Based on the information you supply, you could end up thoroughly diversified with shares in many (sometimes hundreds) of different companies.

Step 3: Set up recurring investments.

You can set up investments to go into your investment account on a recurring basis for just a few dollars per month. You can also choose to make one-time deposits. Your robo-advisor will automatically rebalance your account if you have too much invested in a particular asset class. Setting up recurring investing means that you’ll invest without thinking about it. (You’ll never miss pennies!)

Step 4: Don’t quit there.

You can easily track your earnings when you micro invest because those apps are seriously slick. You can even project your earnings through the app’s earnings calculator so you don’t have to wonder how much you’ll have later on.

However, this is important: Remember that micro investing may not make you rich (if, in fact that is your goal). You probably can’t save enough for retirement through micro-investing, either. You probably also won’t net enough to save for larger goals, such as a down payment on a home. You may generate a few hundred dollars a year, which might allow you to save enough to fund an emergency fund, but that’s about it.

The real win involves building the confidence needed to invest. Consider other ways you can invest, such as investing money in a 401(k) or a Roth IRA after you get comfortable with micro investing.

Micro Investing Could Work Wonders

Micro investing can work wonders by breaking down barriers to investing. One of the biggest complaints from young students just starting out is that it’s too expensive to invest.

Micro investing can give you or a new grad the confidence to try bigger things, starting with baby steps. If micro investing is what it takes for a new grad to get more comfortable with smaller investments (then grow investments later), then it’s a great option for young investors just getting started.

By:

Source: Micro Investing’s Magic Lies in Helping Your Favorite College Grad (or You) Gain Confidence

.

Critics:

Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.[2][3]

Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit.[4] The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group.

Over time, microfinance has emerged as a larger movement whose object is: “a world in which as everyone, especially the poor and socially marginalized people and households have access to a wide range of affordable, high quality financial products and services, including not just credit but also savings, insurance, payment services, and fund transfers.

Proponents of microfinance often claim that such access will help poor people out of poverty, including participants in the Microcredit Summit Campaign. For many, microfinance is a way to promote economic development, employment and growth through the support of micro-entrepreneurs and small businesses; for others it is a way for the poor to manage their finances more effectively and take advantage of economic opportunities while managing the risks. Critics often point to some of the ills of micro-credit that can create indebtedness. Many studies have tried to assess its impacts.

New research in the area of microfinance call for better understanding of the microfinance ecosystem so that the microfinance institutions and other facilitators can formulate sustainable strategies that will help create social benefits through better service delivery to the low-income population.

Due to the unbalanced emphasis on credit at the expense of microsavings, as well as a desire to link Western investors to the sector, peer-to-peer platforms have developed to expand the availability of microcredit through individual lenders in the developed world. New platforms that connect lenders to micro-entrepreneurs are emerging on the Web (peer-to-peer sponsors), for example MYC4, Kiva, Zidisha, myELEN, Opportunity International and the Microloan Foundation.

Another Web-based microlender United Prosperity uses a variation on the usual microlending model; with United Prosperity the micro-lender provides a guarantee to a local bank which then lends back double that amount to the micro-entrepreneur. In 2009, the US-based nonprofit Zidisha became the first peer-to-peer microlending platform to link lenders and borrowers directly across international borders without local intermediaries.

See also

Taming The World’s Leading Killer: High Blood Pressure

An article published recent in in the New England Journal of Medicine reports some astounding research findings which could save millions of lives. Why did you miss it? Because there was zero media coverage (apart from a few specialty medical blogs). Zero. That tells you something. Tells you a lot, actually. So, here are the details.

High blood pressure is the world’s leading killer — and will kill more people, including more young people, than Covid-19 (and, in usual years, more than all other infectious diseases combined). High blood pressure can be prevented, mostly by reducing dietary sodium, and is effectively treated with safe, low-cost medications.

But globally, we’re doing terribly on blood pressure control. Less than 1 in 7 people with high blood pressure, an abysmal 14%, have it controlled. This is, frankly, pathetic — and is killing millions of people a year. It’s the most important health care intervention for adults to save lives, and we get it right less than 1 in 7 times (and, in the United States, with a $4 trillion dollar health care system, we get this right less than half the time, despite it being the intervention that can save more lives than any other health care intervention in the US!)

Elegant studies by University of Oxford scientists prove that, for every 20-point increase in systolic blood pressure (the larger “top” number), the death rate from cardiovascular disease doubles. What’s more, this starts at a blood pressure of 115/75 — way below the usual level at which we treat, or toward which we aim treatment. Adapted from “Age-specific relevance of usual blood pressure to vascular mortality: a meta-analysis of individual data for one million adults in 61 prospective studies” in The Lancet. But showing that lower is better didn’t prove that lowering more is better. That’s where the incredibly important Systolic Blood Pressure Intervention Trial (SPRINT) study, begun in 2010, comes in.

It’s one thing to prove (as Oxford’s Dr. Sarah Lewington did) that lower blood pressure correlates with lower risk of death, but quite another to prove that lowering blood pressure more saves more lives. Lower blood pressure reduces the risk of death, but how low do we need to go? That’s what’s big news about the results from the SPRINT study that were just released. They prove that lower IS better — and that setting a blood pressure goal lower than the standard treatment goal prevented many more deaths.

The SPRINT study also showed that, despite more side effects (far less dangerous than heart attack or stroke), intensive blood pressure treatment to reach the lower blood pressure goal is safe — even for older people. More intensive treatment prevented more heart attacks, strokes and deaths.Based on the SPRINT study, many guidelines now recommend that certain high-risk patients with high blood pressure aim for a systolic blood pressure below 130 rather than the standard target of 140. (SPRINT aimed for an even lower target of 120/80.)

But the bigger implication: We need to do much better at getting people to under 140/90. For years, doctors were afraid to lower their patients’ blood pressures to levels they thought would be too low, and potentially dangerous. Now, it’s proven that “overshooting” the goal of 140/90 isn’t just something that won’t hurt the patient — it could well save their life.

The death rate among people treated with a blood pressure goal of under 120/80 was 27% lower than the death rate of people treated to the usual target of 140/90. And for every death prevented, about two heart attacks are prevented in addition to strokes, kidney failure, dementia, and more. Now, it’s also true that interventions other than medication can be important. Reducing sodium, in particular, can reduce blood pressure and other health harms from our overly salty diet. Getting regular physical activity, eating a healthier diet overall, reducing air pollution, and more can make a big difference. But these interventions are best done on a societal, community-wide basis.

That’s why, although we should empower and inform patients, we shouldn’t expect them to be able to withstand the obesogenic, salty, sedentary, polluted environment we live in. And even if we could magically improve our food and overall environment, there would still be a billion people in the world in need of medications to treat their hypertension. Why are we failing to control high blood pressure? One reason is that we’ve made treatment too complicated — far more complicated than it needs to be for optimal results. For the past four years, Resolve to Save Lives has worked with our global partners to identify characteristics of high-performing hypertension control programs throughout the world.

The WHO HEARTS technical package for improving cardiovascular health simplifies hypertension treatment: standard treatment protocols that any health worker can implement, reliable supply of quality-assured medicines, team-based health care, patient-centered services and a strong health information system. This makes it more likely that patients will achieve and maintain blood pressure control. Think about it. A study came out last week that could save millions of lives. There was not a single news article about it. Though this was “just” the final report from a study whose key results had previously been released in advance (because the findings are so important), we have been slow to implement these recommendations. It shows that we still have a lot to learn about what we need to focus on to save the most lives.

Resolve To Save Lives partners with countries which implement WHO’s HEARTS package to lower blood pressure. Sodium reduction and hypertension treatment can prevent 3 million early deaths — every year. Lowering blood pressure can save millions of lives. We know what we need to do, now let’s make it happen.

By: Dr. Tom Frieden, director of the US Centers for Disease Control and Prevention during the Obama administration, when he oversaw responses to the H1N1 influenza, Ebola and Zika epidemics, is President and CEO of Resolve to Save Lives, an initiative of Vital Strategies and Senior Fellow for Global Health at the Council on Foreign Relations. Twitter: @DrTomFrieden.

Source: Taming the world’s leading killer: high blood pressure – CNN

.

Hypertension or high blood pressure is a chronic medical condition in which the blood pressure in the arteries is higher than it should be. This involves the heart working harder than normal to circulate blood through the blood vessels.

The pressure in the arteries changes depending on what the heart is doing. When the heart squeezes, pumping blood into the arteries, the pressure increases. When the heart relaxes, the pressure decreases. When blood pressure is measured, the highest pressure (when the heart is squeezing) is called the systolic blood pressure. The lowest pressure (when the heart is relaxing) is called the diastolic blood pressure.

Blood pressure is written as two numbers. For example, in the picture at the right, the person’s systolic blood pressure was 158. Their diastolic blood pressure was 99. This blood pressure is written as 158/99. It is said “158 over 99.”

Hypertension Types

There are two types of hypertension, called “primary” and “secondary.” Primary hypertension means that the hypertension is not caused by any other disease or condition and it gradually develops over time with age. Secondary hypertension means that the hypertension is caused by another disease or conditions. Secondary hypertension tend to result in higher blood pressure than primary hypertension. In most cases (90-95%), hypertension is primary. Only a small amount of hypertension (5-10%) is secondary.

There are various health conditions that leads to secondary hypertension which includes: Obstructive sleep apnea, Kidney problems, Adrenal gland tumors, Thyroid problems, Certain defects you’re born with (congenital) in blood vessels, Certain medications (birth control pills, cold remedies, decongestants, over-the-counter pain relievers and some prescription drugs), Illegal drugs (cocaine and amphetamines)

.

References

  • “High blood pressure (hypertension) – Symptoms and causes”. Mayo Clinic. Retrieved 2019-10-28.
  • Arguedas, JA (Jul 8, 2009). Arguedas, Jose Agustin (ed.). “Treatment blood pressure targets for hypertension”. Cochrane Database of Systematic Reviews (3): CD004349. doi:10.1002/14651858.CD004349.pub2. PMID 19588353. Unknown parameter |coauthors= ignored (|author= suggested) (help)
  • Williams, B; Poulter, NR, Brown, MJ, Davis, M, McInnes, GT, Potter, JF, Sever, PS, McG society (March 2004). “Guidelines for management of hypertension: report of the fourth working party of the British Hypertension Society, 2004-BHS IV”. Journal of Human Hypertension 18 (3): 139–85. doi:10.1038/sj.jhh.1001683. PMID 14973512 Law M, Wald N, Morris J (2003). “Lowering blood pressure to prevent myocardial infarction and stroke: a new preventive strategy”. Health Technol Assess 7 (31): 1–94. PMID 14604498.

Here’s Why Spiking Inflation And Labor Shortages Won’t Tank The Economic Recovery, According To Experts

New York City Reopens As Most Pandemic Restrictions Are Lifted

Spiking inflation, disappointing jobs gains and shortages of labor and commodities have investors wringing their hands over the state of the economy and the seemingly growing risk of overheating, but according to Moody’s chief economist, Mark Zandi, there’s no cause for alarm.

In a research note published Tuesday, Zandi emphasizes that all those factors are temporary.  “The recovery . . . may be uneven, given the considerable adjustments needed for the economy to fully reopen, but our outlook for a boom-like economy over the coming year has not changed materially,” he wrote.

The labor shortage and hiring difficulties will improve as students return to school and parents have more childcare options, he suggests, and he describes the evidence that federal supplemental $300 weekly unemployment benefits are keeping workers home as “thin.”

Zandi expects inflationary pressures to ease later this year once the economy returns to normal and businesses—especially those in the travel and leisure industry—get past the point where they are reversing their pandemic-era price cuts.

He suggested investor fears that stubborn inflation will force the Federal Reserve to hastily raise rates, thereby triggering a recession, are unlikely to materialize because of the significant slack still extant in the labor market.

Zandi also cites the ongoing semiconductor shortage as a major factor in the job losses and shortages in the auto manufacturing industry, but adds that he expects those pressures to abate by next year once surging demand and soaring prices for the chips prompt suppliers to boost production, thereby stabilizing the supply chain.

Crucial Quote

“Until the supply side of the economy wakes up and catches up with the fast-reviving demand side coming out of the pandemic, the economic statistics will undoubtedly hold more surprises—output and supply chains scrambled; labor, commodities and products in short supply; and price spikes,” Zandi wrote. “If history is a guide, when businesses can make a healthy profit, they will solve the problems,” he added. “Quickly.”

Key Background

Zandi isn’t the only expert looking beyond the risk factors to a robust recovery. Despite raising their expectations for one measure of inflation by more than a percentage point to a peak of 3.5% this year, analysts from investment giant Goldman Sachs believe the factors that caused them to hike the target for core CPI inflation—soaring used-car prices, production delays in the auto industry and changes in health insurance payouts—are temporary.

Not to mention, their impact isn’t as large across other measures of inflation that weigh prices differently. That sentiment is also beginning to make its way to Wall Street: “The inflation debate is not over, but the majority of Wall Street believes it will be transitory,” OANDA senior market analyst Edward Moya wrote in a Tuesday note.

Just as telling as the wage data, the share of working-age Americans who are in fact working has declined in recent decades. The country now has the equivalent of a large group of bakeries that are not making baguettes but would do so if it were more lucrative — a pool of would-be workers, sitting on the sidelines of the labor market.

Corporate profits, on the other hand, have been rising rapidly and now make up a larger share of G.D.P. than in previous decades. As a result, most companies can afford to respond to a growing economy by raising wages and continuing to make profits, albeit perhaps not the unusually generous profits they have been enjoying.

Chief Critic

But not everyone agrees. Larry Summers, an economist who served in the Clinton and Obama Administrations, wrote in a Monday op-ed in the Washington Post that while some of the recent inflation might normalize with time, “not everything we are seeing is likely to be temporary.”

Summers suggests that a handful of factors including demand that grows faster than supply, higher housing prices, inflation expectations and even higher minimum wages and more benefits for employees have the potential to push inflation even higher. Summer recommends that policymakers “explicitly [recognize] that overheating, and not excessive slack, is the predominant near-term risk for the economy.”

What We Don’t Know

When the Federal Reserve will move to tighten policy and raise interest rates. Atlanta Federal Reserve President Raphael Bostic told CNBC last week that given the 8 million jobs that have yet to be recovered, “I think we’ve got to have our policies in a very strongly accommodative situation or stance.” He added: “I don’t think we’re going to have answers on this until at least early fall, and it may take longer than that.”

One of the few ways to have a true labor shortage in a capitalist economy is for workers to be demanding wages so high that businesses cannot stay afloat while paying those wages. But there is a lot of evidence to suggest that the U.S. economy does not suffer from that problem.

If anything, wages today are historically low. They have been growing slowly for decades for every income group other than the affluent. As a share of gross domestic product, worker compensation is lower than at any point in the second half of the 20th century. Two main causes are corporate consolidation and shrinking labor unions, which together have given employers more workplace power and employees less of it.

I’m a breaking news reporter for Forbes focusing on economic policy and capital markets. I completed my master’s degree in business and economic reporting at New York University. Before becoming a journalist, I worked as a paralegal specializing in corporate compliance.

Source: Here’s Why Spiking Inflation And Labor Shortages Won’t Tank The Economic Recovery, According To Experts

.

References

Nelson 1995, p. 158. This Marxist objection is what motivated Nelson’s essay, which claims that labour is not, in fact, a commodity.

In 2013 The Man Accidentally Threw His Hard Drive In The Trash That Had 7,500 Bitcoins

An inhabitant of the British city of Newport has approached the local authorities, with the aim of conducting an important search for a hard drive that he accidentally threw in 2013 in a municipal landfill, said device had bitcoins, whose current value is it would approximate 210 million pounds, that is, an average of 288 million dollars.

How did this tragic situation happen?

The 35-year-old computer engineer, James Howells, in 2013 carried out the cleaning of his home, later he realized that he had thrown his hard drive with 7,500 bitcoins in the trash instead of another that was empty.

After his previous application was rejected, Howells makes an offer of 25 percent, or $ 72 million , to the council in the event that he recovers his losses.

“I would like the opportunity to sit down with the decision makers and present an action plan to them,” Howells told South Wales Argus, indicating that he is supported by a hedge fund, prepared to provide funding for the initiative.

What would be the programmer’s strategy to recover his hard drive?

The computer scientist assures that in 2013 a garbage container obtained a serial number when it was filled, this before being transferred to a grave and buried. Also, a grid reference was required.

“So I could access the landfill log, identify the week I dumped the hard drive, identify the container’s serial number, and then the grid landmark,” the developer said, according to the source.

Despite eight years since the incident, Howells remains optimistic about recovering the information within the device. “The box could be rusty, but it is possible that the disk inside where the data is stored still works,” said the engineer.

It is worth mentioning that, with the passage of time, this possibility decreases, according to the programmer, who gave the suggestion that in case his search had a successful end, the funds would be transferred in the form of help to patients with coronavirus of his city.

However, the Newport City Council has indicated that digging, storing and treating all the waste could cost millions of pounds, and there is no solid guarantee that the hard drive will be found or will continue to serve.

Likewise, the institution emphasizes that, in the event of extraction, the activity is impossible due to the requirements of the current licenses and that carrying out this could lead to a serious and negative environmental impact of the place, the same reasons for which they do not guarantee assistance.

In case you are interested: “Reactivate without risking”, the new plan launched by CDMX

By: Entrepreneur en Español Entrepreneur Staff

.

BBC News

Subscribe to BBC News http://www.youtube.com/bbcnews If someone told you you just threw away over $6 million worth of bitcoins, well you wouldn’t be too happy. You can imagine how James Howells from Wales felt when he discovered that he had thrown away his hardrive containing over 7,000 bitcoins. The value of Bitcoins has reached an all time high so now Mr Howells is frantically searching his local tip in the hope of retrieving his fortune Subscribe http://www.youtube.com/bbcnews Check out our website: http://www.bbc.com/news Facebook: http://www.facebook.com/bbcworldnews Twitter: http://www.twitter.com/bbcworld Instagram: http://instagram.com/bbcnews

.

More Contents:

EMOTIONAL INTELLIGENCE CRASH COURSE FOR ENTREPRENEURS 2021® http://www.udemy.com – January 14[…] the instructor of several online courses as well as the author of “The Secret of Now Series,” the “Entrepreneur Mindset Series,” and “The New Age Christian Scrolls” series […]22

Tula Areti Tzoras on LinkedIn: #Leadership #Entrepreneur #mindset http://www.linkedin.com – January 14[…] ⁣ #Leadership #Entrepreneur #mindset #overcomeobstacles #mentalhealth #Letgo #Angelinvestors #events #coaching #onlinecourse […]0

Judy Musgrove – judylm.medium.com – January 13[…] While attractive, you also wonder how do you shift from an employee mindset to the entrepreneur mindset […]N/A

HOT JOBS & COOL JOBS: HIGH DEMAND FOR QUALITY PAINTERS GET NEW CLIENTS IN YOUR AREA LAREDO LAREDO TX USA http://www.e-physician.info – January 12[…]  A story of why YOU are wanting to get into the hearing aid business * An entrepreneur mindset with  […]N/A

Douglas James | Do You Have the Entrepreneur Mindset? on http://www.behance.net – January 12[…] But success most often finds those who adopt the entrepreneur mindset right out of the gate […]0

Reviews | Do You Have the Entrepreneur Mindset? – douglasjamesmarketingreviews.wordpress.com – January 12[…] But success most often finds those who adopt the entrepreneur mindset right out of the gate […] What goes into the entrepreneur mindset, you ask? These qualities […] The entrepreneur mindset is encompassed most in those who shoot for the moon […]0

Douglas James Reviews | Do You Have the Entrepreneur Mindset? thedouglasjames.com – January 12Douglas James Reviews | Do You Have the Entrepreneur Mindset? Talk to any professional in any field […] But success most often finds those who adopt the entrepreneur mindset right out of the gate […] What goes into the entrepreneur mindset, you ask? These qualities […]0

Group Engineering Manager F/H – Data & Machine Learning at Ubisoft gamejobs.co – January 12[…] We’re looking for: an entrepreneur mindset ; a will to build things from the ground up in a collaborative and fast-paced team environment ; […]0

Self Made | Entrepreneur Mindset | HOW TO youtu.be – January 111Chris Lees – medium.com – January 11My Entrepreneur Mindset A short interview with Entrepreneur, Kirsten Lees, Founder of ThinkFirst (“We prepare your business […]N/A

HOT JOBS & COOL JOBS: JR. IT ACQUISITION SPECIALIST NORFOLK VA USA http://www.e-physician.info – January 9[…] Apply Now>> 33 Mortgage Protection Specialist *Entrepreneur Mindset* Sales Norfolk, VA, USA Clients fill out a form requesting information then the field underwrite […]N/A

Your Mindset Determines Your Business Success – Direct Sales, Party Plan and Network Marketing Companies Member Article By For the Love Of http://www.sassydirect.com – January 9[…]   Remember, You Have The Power To Do This! entrepreneur mindset positive-thinking positive mindset business successful positive attitudeN/A

The Creative Powers Journaling Evolve http://www.acceleratehealthprograms.com – January 8[…] might want to journal in order to decide daily goals, write affirmations and improve his or her entrepreneur mindset […] I personally journal to improve my athlete and entrepreneur mindset: a lot of my writing is positive self talk, sometimes honest judgements about how i must improve […]N/A

MAT1 Side Hustles – PROVEN Online Marketing And Affiliate Training In 2021! jvfrontend.com – January 8[…] And transitioning from employee to an entrepreneur mindset takes work […]0

The Best of 2020: Top Advice from 10 Independent Business Owners – Podcast for Financial Advisors from Diamond Consultants http://www.diamond-consultants.com – January 7[…] behind “shrinking to grow”—and shifting from an “employee-advisor mindset” to a “fiduciary-entrepreneur mindset […]

%d bloggers like this: