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Consumerism took a big blow at the hands of Senate

(BUSINESS NEWS) Big business is not evil, but when the government actively pursues legislation (blocking mandatory arbitration clauses) that hurts the “little guy,” we must speak up.

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As a rule, American Genius isn’t about political debate. We have writers from all across the political and professional spectrum, bringing unique expertise to topics that matter in entrepreneurship, tech and business culture. That’s our offer. We’re proud of it.

But there’s a line.

Not every issue has two equal and opposite sides. On rare occasions, some things are flat out right or wrong. When that’s the case, it’s the responsibility of journalists to say so. We do. Net neutrality, for instance, is flat out right.

Vice President Pence’s tiebreaker vote to reverse the ban on mandatory arbitration clauses was flat out wrong.

Here’s why.

Mandatory arbitration clauses aren’t universal, but they’re a common tool. Banks do it. Credit cards do it. Service providers in just about every field dealing with capital-F Finance work mandatory arbitration clauses into their agreements.

They’re also a screwjob. Invariably tucked away nice and subtle roundabout paragraph 93 of the Joycean screed titled “Terms and Conditions” on any agreement involving meaningful money, mandatory arbitration clauses do exactly what they say they do: require the signatory to submit to a particular course of arbitration in the case of a dispute.

Tl;dr – sign a form or click a box with a mandatory arbitration clause in it, and no matter how badly the owner of the box subsequently shafts you, you’re not allowed to sue. Instead, you go through an arbitration process chosen by the people who shafted you.

To state the obvious, that’s a strategy designed to benefit one party to an agreement at the expense of the other. In the abstract, that would be repugnant but nothing new. Business plays rough. Film at 11.

But this isn’t debate class. It’s 2017. It’s Equifax screwing the security of 145 million Americans despite being warned 6 months in advance. It’s Wells Fargo opening fraudulent accounts in customers’ names. Facebook. Yahoo. The list goes on.

The plain fact is that the modern business climate is defined, at least in part, by businesses either failing to keep up with the dangers of advancing tech, or fecklessly using same to mess with their customers. To some degree, that’s just the price of progress.

But if screwing up is the price of progress, it’s the screwup’s responsibility to pay it. Vice President Pence’s vote means the next Equifax or Wells Fargo have an excellent way to duck that responsibility and pass along the cost of failure to their consumers.

This isn’t political. It certainly isn’t partisan. Even the vote broke party lines: Vice President Pence’s tiebreaker vote was only necessary because Lindsey Graham of South Carolina and John Kennedy of Florida, both Republicans from deep red states, broke ranks and voted their conscience.

It’s not anti-business, either. Mandatory arbitration clauses are textbook market obstacles. Obstructing consequences for businesses that screw up makes it harder to penalize poor practice, and so fails to incentivize doing things right. That’s the opposite of how the free market needs to work.

The legalization of mandatory arbitration clauses is exactly what it sounds like: a win for badly-run businesses at the expense of consumers.

That’s unacceptable. It’s our responsibility to say so.

Matt Salter is a writer and former fundraising and communications officer for nonprofit organizations, including Volunteers of America and PICO National Network. He’s excited to put his knowledge of fundraising, marketing, and all things digital to work for your reading enjoyment. When not writing about himself in the third person, Matt enjoys horror movies and tabletop gaming, and can usually be found somewhere in the DFW Metroplex with WiFi and a good all-day breakfast.

Business News

Finally the American workforce is now mostly women!

(BUSINESS NEWS) Women officially make up more than half the workforce, but that doesn’t mean total equality. So what does this tipping of the scale mean?

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Equality for women has finally been achieved: according to the Bureau of Labor Statistics, women now make up more than half of the workforce! That’s it, that’s the article.

Kidding. Just because women are currently in the majority doesn’t mean all their problems are solved.

First, it’s worth noting that although women currently make up more than half of employees on payroll, that number is slight (50.04% to be exact). Not to mention, women are very likely to fall back in the minority once construction – a male dominated profession – picks back up in the spring.

Still, the number of women in the workforce has been growing over the last decade. While jobs in manufacturing – another male dominated field – are dwindling, jobs in education and healthcare are growing. When it comes to K-12 teaching, for example, women are more likely to fill teaching roles. Women also dominate in nursing.

Not to mention, women are earning more degrees than men!

That said, despite this progress, women as a whole are still getting paid less than men. Part of the reason lies in the types of careers that women end up in. Those female-dominated fields we mentioned earlier? They don’t typically pay well. Plus, there’s that pesky glass ceiling that still exists in some fields. Remember, there are more CEOs named John than female CEOs.

It’s also worth noting that the information collected by the Bureau of Labor Statistics only covered people on a payroll. That means the growing number of freelancers aren’t being accounted for in the report. Freelancing has become a great way for individuals, often women, to stay home and care for their family while also earning money. It would be interesting to know how freelancers shift the balance, both in employment and income.

Finally, there’s the invisible labor that women often contribute to society. According to the UN, women account for 75% of all unpaid labor – which includes things like childcare, meal prep and cleaning. This is vital labor that is not accounted for by studies like that of the Bureau of Labor Statistics and sheds light into another reason why women might still have lower pay than men, on average.

So, yes, the fact that women make up over half the workforce is something to be celebrated! That said, we’ve still got work to do on the equality front.

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Business News

Interview escape plan 101: Because you definitely need one

(BUSINESS NEWS) A job interview should be a place to ask about qualifications but it seems more people are asked about their personal life. How do you escape this problem?

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“So, why did you move from Utah to Austin?” the interviewer asked over the phone.

The question felt a little out of place in the job interview, but I gave my standard answer about wanting a fresh scene. I’d just graduated college and was looking to break into the Austin market. But the interviewer wasn’t done.

“But why Austin?” he insisted, “There can’t be that many Mormons here.”

My stomach curled. This was a job interview – I’d expected to discuss my qualifications for the position and express my interest in the company. Instead, I began to answer more and more invasive questions about my personal life and religion. The whole ordeal left me very uncomfortable, but because I was young and desperate, I put up with it. In fact, I even went back for a second interview!

At the time, I thought I had to put up with that sort of treatment. Only recently have I realized that the interview was extremely unprofessional and it wasn’t something I should have felt obligated to endure.

And I’m not the only one with a bad interview story. Recently, Slate ran an article sharing others’ terrible experiences, which ranged from having their purse inspected to being trapped in a 45 minute presentation! No doubt, this is just the tip of the iceberg when it comes to mistreatment by potential employers.

So, why do we put up with it?

Well, sometimes people just don’t know better. Maybe, like I was, they’re young or inexperienced. In these cases, these sorts of situations seem like they could just be the norm. There’s also the obvious power dynamic: you might need a job, but the potential employers probably don’t need you.

While there might be times you have to grit your teeth and bear it, it’s also worth remembering that a bad interview scenario often means bad working conditions later on down the line. After all, if your employers don’t respect you during the interview stage, it’s likely the disrespect will continue when you’re hired.

Once you’ve identified an interview is bad news, though, how do you walk out? Politely. As tempting as it is to make a scene, you probably don’t want to go burning bridges. Instead, excuse yourself by thanking your interviewers, wishing them well and asserting that you have realized the business wouldn’t be a good fit.

Your time, as well as your comfort, are important! If your gut is telling you something is wrong, it probably is. It isn’t easy, but if a job interview is crossing the line, you’re well within your rights to leave. Better to cut your losses early.

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Business News

What’s DMT and why are techies and entrepreneurs secretly taking the drug?

(BUSINESS) The tech world and entrepreneur world are quietly taking a psychadellic in increasing numbers – they make a compelling case, but it’s not without risks.

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Move over tortured artists and festival-goers, psychedelics aren’t just for you anymore. An increasing number of professionals in Silicon Valley swear by “microdosing” psychedelic substances such as lysergic acid diethylamide(LSD) in efforts to heighten creativity and drive innovative efforts.

This probably isn’t a shock to anyone following trends in tech and startups, particularly the glorification of the 8-trillion hour workweek (#hustle). But business owners, entrepreneurs, and technologists are also turning to other hallucinogens to awaken higher levels of consciousness in hopes of influencing favorable business results.

Dimethyltryptamine (DMT) is growing in popularity as business leaders and creatives flock to Peru or mastermind retreats to ingest the drug. It exists in the human body as well as other animals and plants. In his book DMT: The Spirit Molecule, Dr. Rick Strassman says “this ‘spirit’ molecule provides our consciousness access to the most amazing and unexpected visions, thoughts and feelings. It throws open the door to worlds beyond our imagination.”

The substance is commonly synthesized in a lab and smoked, with short-lived effects (between five to 45 minutes, however, some say it lasts for hours).

Traditionally, however, it is extracted from various Amazonian plant species and snuffed or consumed as a tea (called ayahuasca or yage). The effects of DMT when consumed in this manner can last as long as ten hours. Entrepreneurs are attracted to the “ayahuasca experience” for its touted ability to provide clarity, vision and inventiveness.

Physical effects are said to include an increase in blood pressure and a raised heart rate. Users report gastrointestinal effects when taken orally, commonly referred to as the “purge.” The purging can include vomiting or diarrhea, which makes for interesting conversation at the next company whiteboarding session.

Users are subject to dizziness, difficulty regulating body temperature, and muscular incoordination. Users also risk seizures, respiratory failure, or falling into a coma.

DMT can interfere with medications or foods, a reason why many indigenous tribes that work with it also follow specific dietary guidelines prior to ingestion. Not paying attention to diet or prescription medication prior to consuming ayahuasca or DMT can lead to the opposite of the intended effect, potentially even causing trauma or death.

So why the hell are people putting themselves through this ordeal?

Many claim profound mental effects, often experiencing a transformative occurrence that provides clarity and healing. Auditory and visual hallucinations are common, with reports of geometric shapes and sharp, bold colors. Many report intense out-of-body experiences, an altered sense of time and space or ego dissolution (“ego death”).

Studies have indicated long-term effects in people who use DMT. Some report a reduction in symptoms of depression or anxiety.

Subjects in an observational study showed significant reductions in stress after participating in an ayahuasca ceremony, with effects lasting through the 4-week follow-up period.

Subjects also showed improvements in convergent thinking that were still evident at the 4-week follow up. People who consume DMT generally chronicle improvements in their overall satisfaction of life, and claim they are more mindful and aware after the experience.

It’s important to note that dying from ayahuasca is rarely reported, but that doesn’t rule out the risk. It’s also illegal in the states, explaining why groups flock to Peru to visit licensed ayahuasca retreats or why technologists buy DMT on the dark web to avoid detection.

For those considering a DMT journey (and we don’t recommend it based on the illegal nature and health risks), it’s critical to gain a full understanding of the potential risks prior to consumption.

For more reading:

This story was first published here in June, 2019.

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