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The rise of cryptocurrency (and what the heck it even is)

(NEWS) Cryptocurrency is making its entrance and even though a lot of people don’t want anything to do with it, venture capitalist need to pay attention.

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Coins unlike the ones you find in your couch

What’s an Initial Coin Offering?

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While it sounds like the beginning of an intrepid relationship with a metal-loving deity, turns out ICOs have nothing to do with actual coins.

No parents, no rules

ICOs, aka “token sales,” are part of blockchain technology fundraising. An ICO is essentially a crowdfunded cryptocurrency.

Tokens for new cryptocurrency are sold as a fundraising effort for technical development.

Whenever a new cryptocurrency is born, its startup parents arbitrarily decide its worth.

After supply and demand smack it around for a bit, participants in the price dynamic testing then settle on a value.

Instead of a central government, the network of participants determines how much the cryptocurrency is worth.

Unlike Initial Public Offerings, acquiring a token does not mean owning stakes in the company.

Why VC firms care now

Although venture capitalists have been giving ICO the cold shoulder, things are starting to look up.

Cryptocurrency investors made bank last year, with some doubling their investments.

Investors see returns more quickly with ICOs due to the liquidity of cryptocurrencies.

Instead of waiting for a startup to playout via an IPO or acquisition, investors can bail if things aren’t going well.

It’s easy to pull funds—or profits, if things did work out. All investors have to do is use a cryptocurrency exchange to pull their profits, then use an online service to convert this to real people money.

Who’s afraid of the dark(web)?

If this sounds sketchy, you’re not alone. Traditional investors aren’t really fans of the regulatory uncertainty.

The world of ICO can be full of scams and schemes, with little control over financials and strategy.

U.S. Securities and Exchange Commission and friends are still investigating ICOs. But technically ICOs fall outside legal frameworks.

ICOs don’t offer equity in startups, and only give cryptocurrency discounts before they release them to the exchanges.

Additionally, ICOs are global, not national. Theoretically, anyone can invest on a semi-anonymous level. Oh, and they’re not funded by central authorities or banks either.

Reform and re-adjustment

Criminal activity is now mostly self-regulated within the community via crowdsourcing and external groups.

Some companies are even working to establish Know Your Customer frameworks and make ICOs Anti-Money Laundering compliant.

Those who support ICOs argue traditional methods of investing only benefit those already dominating the system.

Investing outside of the system provides more freedom, especially for startups.

ICOs mean startups can raise funds without worrying too much about looming stakeholders. Non-profits can also benefit if they want to build open source software to raise capital.

Call me ICO-shmael

From their humble beginnings, bitcoins are now worth around $1,120. Bitcoin’s market cap is around twenty billion.

Allegedly, half of that is owned by “bitcoin whales,” a group of less than one thousand people who bought into bitcoin early.

Bitcoin whales have a huge impact on most ICOs. Most live in China, but some investment and hedge funds also have huge stakes in bitcoin. Fortunately, some of the bitcoin whale’s profits are reinvested in innovation.

Since 2013, over $270 million has been raised in ICOs. Click To Tweet

Overall, ICOs are dominating in crowdfunding, with most top raises coming in as cryptocurrency.

Though it’s still kind of murky and mysterious, blockchain technology is starting to be seen as more legitimate. Initial Coin Offerings demonstrate the success of industry. As more investors become comfortable with ICOs, blockchain innovation will continue creating new possibilities.

#Cryptocurrency

Lindsay is an editor for The American Genius with a Communication Studies degree and English minor from Southwestern University. Lindsay is interested in social interactions across and through various media, particularly television, and will gladly hyper-analyze cartoons and comics with anyone, cats included.

Business News

How to stop reeking of desperation when you job hunt

(CAREER) Hunting for a job can come with infinite pressures and rejection, sometimes you just want it to be over – here’s how to avoid reeking of desperation.

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Whether you were one of the millions of people who quit their job this year in The Great Resignation or you’ve been unemployed since the pandemic began, when you’re looking for work, it can feel hopeless after a while. Just like that student in class who raises their hand at every question, you don’t want to come across as desperate, “pick me, pick me!” Money might be tight. You want to be eager, but you don’t want to be so anxious that you sabotage your job search.

Right now, job seekers have the upper hand, but you want to show off your skills and professionalism, not your neediness.

5 ways you come across as overly desperate for a job:

  1. Applying for multiple positions at the same company. Employers want you to be a fit for a particular job. Instead, tell the hiring manager that you’re open to other positions that might be a good fit.
  2. Checking in with the hiring manager too much. Follow up after an interview, but don’t keep checking in. If they have news, they’ll share it.
  3. Talking about how much you need a job. Don’t bring up your personal issues in an interview. Stay focused on why you are the best person for the job.
  4. Being willing to accept any offer. You should negotiate and go to bat for yourself when you get an offer. Explain why you’re worth more money because you probably are.
  5. Forgetting to ask questions about the bigger picture. You don’t want to be so eager to impress that you don’t think about the company culture and perks. You might be desperate, but getting into a job that doesn’t fit your needs and personality won’t help your situation.

Desperation can make you appear to be in the clearance bin at the store. Sure, you may get something for a great price, but will you actually be able to fully use it when you get it home? As a job seeker, you want to be the premium brand on the shelf. Maybe not every buyer (employer) can appreciate you or even afford you, but when the right one comes along, it’s a good fit.

Employers want team members who will be assets for their company. Your job search needs to start with a strong resume and impressive cover letter. Instead of going for quantity, choose job openings for quality, where you can bring something to the table for the company.

Ask a Manager’s Alison Green has some great resources for getting a job, including a free guide to preparing for interviews. Practice interviewing. Make a great first impression. Know that there is a job out there for you.

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Business News

Study: Employers are inadvertently punishing women that suffer from Endo

(BUSINESS NEWS) A new study reveals the widespread impact of Endo (Endometriosis) in the workforce as well as the entire economy. Change must be made. Quickly.

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Women still face many barriers in their career. It’s been more than half a century since federal law addressed gender discrimination in the workplace, but it still occurs. Whether it’s lack of access to training, an inability to speak up, or pay inequality, it’s all wrong. Sadly, a new study identifies another potential barrier to a woman’s career path – endometriosis.

What is endometriosis?

The Office on Women’s Health (OWH) reports that “endometriosis happens when tissue similar to the lining of the uterus (womb) grows outside the uterus.”

Endo, as its often called, causes varying levels of pain, often chronic pain in the lower back and pelvis. The tissue outside the uterus grows in areas where it can cause even more problems by blocking fallopian tubes and forming scar tissue. There is no cure, but there are some treatment options that can work.

Endo affects about 11% of American women who are ages 15 to 44. Despite the fact that the American Journal of Obstetrics & Gynecology describes endometriosis as “nothing short of a public health emergency,” data suggests that about 60% of endo cases go undiagnosed.

I repeat: 60% of endo cases go undiagnosed.

More than 6 million American women are living with the symptoms of endo without knowing the cause or having the capability to manage their symptoms.

Endometriosis was once considered a career woman’s disease, but a two-year-long study from Finland shows that the disease shapes a woman’s career, not the other way around.

Women with endo take 10 or more sick days than women without endo. They also use more disability days. Other studies support these findings. A 2011 analysis reported that women with endo could lose almost 11 hours of work each week because their endo made it difficult to complete tasks. One US study estimated that women with endo experience more sick days each year, up to 20.

These women often have a lower annual salary and slower salary growth.

How can employers address endometriosis in the workplace?

It’s difficult enough to discuss any type of health problem at work, let alone one that relates to menstruation. Employers have a big problem just dealing with short-term illnesses. It’s hard when a key employee is out for one or two weeks from a surgery. Long-term chronic illnesses, especially those that are invisible, are challenging in the workplace.

Most workplace cultures aren’t designed for people with chronic conditions or disabilities.

It’s going to take a major shift in thinking to deal with endometriosis in the workplace.

Endo isn’t painful period cramps. It’s a serious condition without a cure. Employees who are dealing with endo may be battling intense pain or fatigue. Yes, work needs to get done, but when people are living with a chronic condition, they need accommodations.

Endometriosis may be a woman’s disease, but it does impact the entire economy. One study found that endo had a similar economic burden to that of heart disease or diabetes. Most employers would not think twice about a man who needed extra time to deal with coronary disease, but women often don’t get that consideration, regardless of the condition.

Women with endo aren’t incapable or shirking their duties. They may just need to deal with their pain to stay focused at work. Let’s drop the stigma and help accommodate women who deal with endo.

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Business News

Everyone should have an interview escape plan

(BUSINESS NEWS) A job interview should be a place to ask about qualifications but sometimes things can go south – here’s how to escape when they do.

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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. 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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