The Wall Street Journey reported: “Whatever the world’s economic and market turbulence last year, one group has held up well: billionaires. The combined wealth of the world’s billionaires, defined as individuals with a net worth of $1 billion or above, increased by 5.4% to a record $7.7 trillion, according to Wealth-X’s 2015-2016 billionaire census. By comparison, the gross domestic product of the U.S. is around $17 trillion. The world’s billionaire population grew by 6.4% to 2,473 in 2015.” Overall, 87% of billionaires made the majority of their fortunes themselves. (wsj.com)
TheStreet compiled a list of the top 10 highest-paying jobs in America. You should follow a career in medicine, law and STEM if all you care about is money. Here’s the list for these high-paying jobs:
- Physician: $180,000 median base salary
- Lawyer: $144,500 median base salary
- Research & Development Manager: $142,120 median base salary
- Software Development Manager: $132,000 median base salary
- Pharmacist: $130,000 median base salary
- Strategy Manager: $130,000 median base salary
- Software Architect: $128,250 median base salary
- Integrated Circuit Design Engineer: $127,500 median base salary
- IT Manager: $120,000 median base salary
- Solutions Architect: $120,000 median base salary
As reported on The Intercept: “Democratic presidential candidate Bernie Sanders this week assailed rival Hillary Clinton for taking large speaking fees from the financial industry since leaving the State Department. According to public disclosures, by giving just 12 speeches to Wall Street banks, private equity firms, and other financial corporations, Clinton made $2,935,000 from 2013 to 2015.” Clinton’s most lucrative year was 2013, in which she made $2.3 million for three speeches to Goldman Sachs and other Wall Street banks. (theintercept.com)
Tim Cook is making his first visit to India as CEO of Apple and Cook reveals his three keys for personal success to young people during an interview. Business Insider reported that during a local game a sportscaster asked Cook about his impression of the sport and his experience in India. He also asked Cook what his message was to young people who might want to replicate his success. Sportscaster Alan Wilkins asked: “We have a lot of young viewers… if you had three key points for personal success from the chief executive officer from Apple, what would you say to our young viewers?” Cook replied: “Do what you love, and put your whole heart into it, and then just have fun.” (businessinsider.com)
Benjamin Dean, Columbia University
For many years, New York City has been developing a “free” public Wi-Fi project. Called LinkNYC, it is an ambitious effort to bring wireless Internet access to all of the city’s residents. This is the latest in a longstanding trend in which companies offer ostensibly free Internet-related products and services, such as social network access on Facebook, search and email from Google or the free Wi-Fi now commonly provided in cafes, shopping malls and airports. These free services, however, come at a cost. Use is free on the condition that the companies providing the service can collect, store and analyze users’ valuable personal, locational and behavioral data. [Read more…]
The doping allegations could prevent some Russians athletes to compete for 2016 Olympic in Rio this summer. Market Watch has an article detailing why countries are willing to cheat for Olympic gold. Grigory Rodchenkov, the former director of the laboratory where drug testing was performed for the 2014 Sochi Olympics, alleged that it was more important for Russia to end the Olympic games with the highest medal count than to guarantee that the games ran smoothly. “The whole medal count story is for the domestic audience,” says David Wallechinsky, president of the International Society of Olympic Historians, a nonprofit organization that collects and publishes research on the Olympic movement. In highly-populated countries like Russia and China, a major Olympic medal haul sends a message of strength and stability to citizens, Wallechinsky says. In the U.S., people get very excited, “but we look at victories as belonging to the individual athletes,” says Kathleen Smith, a professor at Georgetown University’s Center for Eurasian, Russian and East European Studies. “Russia sees them as belonging to the country.” (marketwatch.com)
Linda Celestino, vice president of guest services at Etihad Airways writes on Fortune: “there are two kinds of success: external or professional success and internal or personal success. Sometimes, in our younger years, we believe we are only measured on our external success and professional achievement. We think that that’s how the industry or world competes, but success is not singular, or based simply on our fortitude. To achieve success, you need to find your purpose, communicate, and adapt.”
- Finding your purpose and what you truly, deeply believe in 1,000% is fundamental to your success
- Communication drives every negotiation when used to build relationships , whether it’s monetary, professional, or personal
- Adaptability and the ability to thrive in ambiguity is very important during challenging times
FounderSociety shares 6 common mistakes that trip up first-time entrepreneurs. “As a first-time entrepreneur, taking all the right steps in the beginning is critical to your success in the long run. It’s important to stay vigilant and avoid falling victim to one of the many obstacles in your path that could end your career for good.” Here are the biggest threats first-time entrepreneurs should avoid:
- Losing focus
- Shooting too high too quickly
- Giving up too early
- Thinking it’s easy
Polly Mosendz writes on Bloomberg: “This year’s batch of Silicon Valley summer interns might earn more money than you. The median monthly base salary for an engineering-focused summer intern at some of the big technology companies is $6,800. Annualized, that’s $81,600 a year, according to data collected by Rodney Folz, a former University of California Berkeley student and soon-to-be Yelp intern. The national wage index is $46,481.52, according to data last compiled by the Social Security Administration in 2014.” (bloomberg.com)
When it’s time for you to rent a car, there are four “money-saving hacks” that can save money the next time you book:
- Go off-site: Because of extra airport fees, it’s typically more expensive to rent a car from the airport
- Join the loyalty program: It’s free, and members receive regular emails with offers like free upgrades and discounted rentals
- Skip the extras: Don’t pay for a GPS system if you have a smartphone. Instead of buying rental insurance or a damage waiver, simply book the rental with your credit card
- Always refill yourself: Never take the pre-paid gas option
The new McDonald’s restaurant in St. Joseph will offer all-you-can-eat french fries as reported by The St. Joseph News-Press. The McDonald’s of the future will also include digital kiosks for customers to order their food for quick service. The play area will have interactive light board tables, tabletop video games with different gaming options, and digital play. (newspressnow.com)
Matt Phillips writes on Quartz: “Economist Robert Gordon has spent his career studying what makes the US labor force one of the world’s most productive. And he has some bad news. American workers still produce some of most economic activity per hour of any economy in the world. But the near-miraculous productivity growth that essentially transformed the US into one of the world’s most affluent societies is permanently in the country’s rearview mirror. In his magisterial new book, The Rise and Fall of American Growth, the Northwestern University professor lays out the case that the productivity miracle underlying the American way of life was largely a one-time deal. It was driven by a flurry of technologies—electric lights, telephones, automobiles, indoor plumbing—that fundamentally transformed millions of American lives within a matter of decades. By comparison, Gordon argues, today’s technological advancements—Uber, Facebook, Amazon.com—will touch the productivity of the American economy lightly—if at all. And a combination of demographic factors, such as the aging of the US population, and sociological problems such as growing inequality and educational performance that’s worsened in comparison to many other rich nations, will stymie economic growth for the foreseeable future.” (qz.com)
The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies. According to the International Consortium of Investigative Journalists, the historic data leak tied “140 politicians from more than 50 countries, connected to offshore companies in 21 different tax havens.” The leak is so big that China’s government is suppressing mentions of the Panama Papers on social media and in search engines results. It also told news organizations to delete all content related to the Panama Papers leak. Here are 5 biggest revelations from the Panama Papers as detailed on Vox:
- The Panama Papers caught Iceland’s prime minister in an incredible conflict of interest
- The $2 billion trail in the Panama Papers that leads to Vladimir Putin
- Brazil is on the brink of political collapse, and the Panama Papers added fuel to the fire
- China wishes the Panama Papers never happened
- Argentina’s president ran on a campaign of transparency. Now he has been named in the Panama Papers.
Drew Dwyer, a veteran of the Marines and a former CIA operative, shares 9 travel and hotel safety tips. Whether you travel for leisure or for business, you can learn from these safety tips:
- Acquire or make a copy of the fire escape plan on the back of your door. Most of these just slide out.
- Do not stay on the ground or the top floor. The ground floor is readily accessible to intruders and the top floor does not allow any room to maneuver. The first or second (European) floors allow access for most third world country emergency vehicles.
- Keep the “Do Not Disturb” sign on the door, even when you are not there.
- Always assume the room is bugged. Keep the radio or TV turned on with the volume on low at all times — even when you are not in the room.
- Keep the drapes/blinds pulled at all times, even when unoccupied.
- Keep a light on in the room when unoccupied.
- Keep a small “bug-out bag” packed with must-have items (money, ID, passport, etc.) in the event of an emergency departure.
- Carry a motion alarm that can be placed over the doorknob. They are about $20 and can be found in most electronics stores.
- Keep a flashlight next to the bed and within arm’s reach.
Stephanie Vozza writes on Fast Company: “Some people have the gift of gab, and can talk to anyone about anything. And some people struggle to make small talk. What separates the two isn’t knowing what to talk about; it’s polishing up your communication skills so you can keep a good conversation going.” She then explains in detail six habits that the best conversationalists have mastered:
- They listen more than they talk
- They don’t always interject their experiences
- They admit what they don’t know
- They are well read
- They look for cues
- They Let go of the details