Tag: money (page 1 of 2)

‘Prepper’ philosophy

This morning, I came across a long web page from 2016, presumably created as a reaction to everything that went down that year (little did we know!)

Ostensibly, it’s about preparing for scenarios in life that are relatively likely. It’s pretty epic. While I’ve converted it to PDF and printed all 68 pages out to read in more detail, there were some parts that jumped out at me, which I’ll share here.

[T]he purpose of this guide is to combat the mindset of learned helplessness by promoting simple, level-headed, personal preparedness techniques that are easy to implement, don’t cost much, and will probably help you cope with whatever life throws your way.

lcamtuf, Doomsday Prepping For Less Crazy Folk

Growing up, my mother was the kind of woman who always had extra tins in the cupboards ‘just in case’. Recently, my wife has taken this to the next level, with documents containing details on our stash including best before dates, etc.

Effective preparedness can be simple, but it has to be rooted in an honest and systematic review of the risks you are likely to face. Plenty of excited newcomers begin by shopping for ballistic vests and night vision goggles; they would be better served by grabbing a fire extinguisher, some bottled water, and then putting the rest of their money in a rainy-day fund.

LCAMTUF, DOOMSDAY PREPPING FOR LESS CRAZY FOLK

I see this document, which goes into money, self-defence, hygiene, and even relationships as neighbours as more of a philosophy of life.

Rational prepping is meant to give you confidence to go about your business, knowing that you are well-equipped to weather out adversities. But it should not be about convincing yourself that the collapse is just around the corner, and letting that thought consume and disrupt your life.

Stay positive: the world is probably not ending, and there is a good chance that it will be an even better place for our children than it is for us. But the universe is a harsh mistress, and there is only so much faith we should be putting in good fortune, in benevolent governments, or in the wonders of modern technology. So, always have a backup plan.

LCAMTUF, DOOMSDAY PREPPING FOR LESS CRAZY FOLK

Recommended reading 👍

(also check out the author’s hyperinflation gallery)

At times, our strengths propel us so far forward we can no longer endure our weaknesses and perish from them

Psychedelic image representing billionaires steamrollering the earth

🤑 We can’t have billionaires and stop climate change

📹 How to make video calls almost as good as face-to-face

⏱️ How to encourage your team to launch an MVP first

☑️ Now you can enforce your privacy rights with a single browser tick

🤔 Why Life Can’t Be Simpler


Quotation-as-title from Nietzsche. Image from top-linked post.

Face-to-face university classes during a pandemic? Why?

Earlier in my career, when I worked for Jisc, I was based at Northumbria University in Newcastle. It’s just been announced that 770 students there have been infected with COVID-19.

As Lorna Finlayson, a philosophy lecturer at the University of Essex, points out, the desire to get students on campus for face-to-face teaching is driven by economics. Universities are businesses, and some of them are likely to fail this academic year.

[A]fter years of pushing to expand online learning and “lecture capture” on the basis that it is what students want, university managers have decided that what students really want now, during a global pandemic, is face-to-face contact. This sudden-onset fetish reached its most perverse extreme in the case of Boston University, which, realising that many teaching rooms lack good ventilation or even windows, decided to order “giant air circulators”, only to discover that the air circulators were very noisy. Apparently unable to source enough “mufflers” for the air circulators, the university ordered Bluetooth headsets to enable students and teachers to communicate over the roar of machinery.

All of which raises the question: why? The determination to bring students back to campus at any cost doesn’t stem from a dewy-eyed appreciation of in-person pedagogy, nor from concerns about the impact of isolation on students’ mental health. If university managers had any interest in such things, they would not have spent years cutting back on study skills support and counselling services.

Lorna Finlayson, How universities tricked students into returning to campus (The Guardian)

I know people who work in universities in various positions. What they tell me astounds me; a callous disregard for human life in the pursuit of either economic survival, or profit.

This is, as usual, all about the money. With student fees and rents now their main source of revenue, universities will do anything to recruit and retain. When the pandemic hit, university managers warned of a potentially catastrophic loss of income from international student fees in particular. Many used this as an excuse to cut jobs and freeze pay, even as vice-chancellors and senior management continued to rake in huge salaries. As it turned out, international student admissions reached a record high this year, with domestic undergraduate numbers also up – perhaps less due to the irresistibility of universities’ “offer” than to the lack of other options (needless to say, staff jobs and pay have yet to be reinstated).


But students are more than just fee-payers. They are rent-payers too. Rightly or wrongly, most of those in charge of universities have assumed that only the promise of face-to-face classes would tempt students back to their accommodation. That promise can be safely broken only once rental contracts are signed and income streams flowing.

Lorna Finlayson, How universities tricked students into returning to campus (The Guardian)

I predict legal action at some point in the near future.

The crisis in professional sport is one of its own making

I couldn’t agree more with this analysis from Barney Ronay, one of my favourite sports writers:

Professional sport is facing a crisis of unprecedented urgency. It must be prepared to face it largely alone.

At which point it is worth being clear on exactly what is at stake. This is a moment of peril that should raise questions far beyond simply survival or sustaining the status quo. Questions such as: what is sport actually for? And more to the point, what do we want it to look like when this is all over?

It helps to define the terms of all this jeopardy. There has been a lot of emotive rhetoric about sport being on the verge of extinction, its very existence in doubt, as though the basic ability to participate, support and spectate could be vaporised out from beneath us.

This is incorrect. What is being menaced is the current financial management of professional sport, its existing models and cultural practices, much of which is pretty joyless and dysfunctional in the first place.

Barney Ronay, Never waste a crisis: Covid-19 trauma can force sport to change for good (The Guardian)

Was sport less enjoyable before loads of money was thrown at it? As Ronay points out, Gareth Bale earning £600,000 per week “could keep every club in League Two in business by paying their combined wage bill out of his annual salary”.

I’m not sure the current model is sustainable, so if the pandemic forces a rethink, I’m all for it.

As scarce as truth is, the supply has always been in excess of demand

Robot saying "I'm not a robot" to people who look like journalists

💬 Welcome to the Next Level of Bullshit

📚 The Best Self-Help Books of the 21st Century

💊 A radical prescription to make work fit for the future

💰 How To Hide A Billion Dollars: Three Techniques The Ultrarich Use To Dodge Ex-Spouses, The Taxman And Disgruntled Business Partners

👣 This desolate English path has killed more than 100 people


Quotation-as-title by Josh Billings. Image from top linked post.

People seem not to see that their opinion of the world is also a confession of character

Actions, reactions, and what comes next

We are, I would suggest, in a period of collective shock due to the pandemic. Of course, some people are better at dealing with these kinds of things than others. I’m not medically trained, but I’m pretty sure some of this comes down to genetics; it’s probably something to do with the production of cortisol.

It might a little simplistic to separate people into those who are good in a crisis and those who aren’t. It’s got to be more complex than that. What if some people, despite their genetic predisposition, have performed some deliberate practice in terms of how they react to events and other things around them?

I often say to my kids that it’s not your actions that mark you out as a person, but your reactions. After all, anyone can put on a ‘mask’ and affect an air of nonchalance and sophistication. But that mask can slip in a crisis. To mix metaphors, people lose control when they reach the end of their tether, and are at their most emotionally vulnerable and unguarded when things go wrong. This is when we see their true colours.

A few years ago, when I joined Moodle, I flew to Australia and we did some management bonding stuff and exercises. One of them was about the way that you operate in normal circumstances, and the way that you operate under pressure. Like most people, I tended to get more authoritarian in a crisis.

What we’re seeing in this crisis, I think, are people’s true colours. The things they’re talking about the most and wanting to protect are the equivalent of them item they’d pull from a burning building. What do they want to protect from the coronavirus? Is it the economy? Is it their family? Is it freedom of speech?


Last week, I asked Thought Shrapnel supporters what I should write about. It was suggested that I focus on something beyond the “reaction and hyperaction” that’s going on, and engage in “a little futurism and hope”. Now that it’s no longer easier to imagine the end of the world as the end of capitalism, how do we prepare for what comes next?

It’s an interesting suggestion for a thought experiment. Before we go any further, though, I want to preface this by saying these are the ramblings of an incoherent fool. Don’t make any investment decisions, buy any new clothes, or sever any relationships based on what I’ve got to say. After all, at this point, I’m mostly for rhetorical effect.


The first and obvious thing that I think will happen as a result of the pandemic is that people will get sick and some will die. Pretty much everyone on earth will either lose someone close to them or know someone who has. Death, as it has done for much of human history, will stalk us, and be something we are forced to both confront and talk about.

This may not seem like a very cheerful and hopeful place to start, but, actually, not being afraid to die seems to be the first step in living a fulfilling life. As I’ve said before, quoting it is the child within us that trembles before death. Coming to terms with that fact that you and the people you love are going to die at some point is just accepting the obvious.


If we don’t act like we’re going to live forever, if we confront our mortal condition, then it forces us to make some choices, both individually and as a society. How do we care for people who are sick and dying? How should we support those who are out of work? What kind of education do we want for our kids?

I forsee a lot of basic questions being re-asked and many assumptions re-evaluated in the light of the pandemic. Individually, in communities, and as societies, we’ll look back and wonder why it was that companies making billions of dollars when everything was fine were all of a sudden unable to meet their financial obligations when things weren’t going so well. We’ll realise that, at root, the neoliberalist form of capitalism we’ve been drinking like kool-aid actually takes from the many and gives to the few.

Before the pandemic, we had dead metaphors for both socialism and “pulling together in times of adversity”. Socialism has been unfairly caricatured as, and equated with, the totalitarian communist experiment in Russia. Meanwhile, neoliberals have done a great job at equating adversity with austerity, invoking memories of life during WWII. Keep Calm and Carry On.

This is why, in the aftermath of the 2008 financial crash, despite the giant strides and inroads into our collective consciousness, made by the Occupy movement, it ultimately failed. When it came down to brass tacks, we were frightened that destroying our current version of capitalism would mean we’d be left with totalitarian communism: queuing for food, spying on your neighbours, and suchlike.

So instead we invoked the only “pulling together in times of adversity” meme we knew: austerity. Unfortunately, that played straight into the hands of those who were happy to hollow out civic society for financial gain.

Post-pandemic, as we’re rebuilding society, I think that not only will there be fewer old people (grim, but true) but the overall shock will move the Overton Window further to left than it has been previously. Those who remain are likely to be much more receptive to the kind of socialism that would make things like Universal Basic Income and radically decarbonising the planet into a reality.


Making predictions about politics is a lot easier than making predictions about technology. That’s for a number of reasons, including how quickly the latter moves compared to the former, and also because of the compound effect that different technologies can have on society.

For example, look at the huge changes in the last decade around smartphones now being something that people spend several hours using each day. A decade ago we were concerned about people’s access to any form of internet-enabled device. Now, we just assume that everyone’s gone one which they can use to connect during the pandemic.

What concerns me is that the past decade has seen not only the hollowing-out of civic society in western democracies, but also our capitulation to venture capital-backed apps that make our lives easier. The reason? They’re all centralised.

I’m certainly not denying that some of this is going to make our life much easier short-term. Being on lockdown and still being able to have Amazon deliver almost anything to me is incredible. As is streaming all of the things via Netflix, etc. But, ultimately, caring doesn’t scale, and scaling doesn’t care.

Right now, we relying on centralised technologies. Everywhere I look, people are using a apps, tools, and platforms that could go down at any time. Remember the Twitter fail whale?

The Twitter ‘fail whale’

What happens when that scenario happens with Zoom? Or Microsoft Teams? Or Slack, or any kind of service that relies on the one organisation having their shit together for an extended period of time during a pandemic?

I think we’re going to see outages or other degradations in service. I’m hoping that this will encourage people to experiment with other, decentralised platforms, rather than leap from the frying pan of one failed centralised service into the fire another.


In terms of education, I don’t think it’s that difficult to predict what comes next. While I could be spectacularly wrong, the longer kids are kept at home and away from school, the more online teaching and learning has to become something mainstream.

Then, when it’s time to go back to school, some kids won’t. They and their parents will realise that they don’t need to, or that they are happier, or have learned more staying at home. Not all, by any means, but a significant majority. And because everyone has been in the same boat, parents will have peer support in doing so.

The longer the pandemic lockdown goes on, the more educational institutions will have to think about the logistics and feasibility of online testing. I’d like to think that competency-based learning and stackable digital credentials like Open Badges will become the norm.

Further out, as young people affected by the pandemic lockdown enter the job market, I’d hope that they would reject the traditional CV or resume as something that represents their experiences. Instead, although it’s more time-consuming to look at, I’d hope for portfolio-based approaches (with verified digital credentials) to become standard.


Education isn’t just about, or even mainly about, getting a job. So what about the impact of the pandemic on learners? On teachers? Well, if I’m being optimistic and hopeful, I’d say that it shows that things can be done differently at scale.

NASA Earth Observatory images showing emissions dramatically reduced over China during the coronavirus outbreak (via CBS)

In the same way that climate change-causing emissions dropped dramatically in China and other countries during the enforced coronavirus lockdown, so we can get rid of the things we know are harmful in education.

High-stakes testing? We don’t need it. Kids being taught in classes of 30+ by a low-paid teacher? Get over it. Segregation between rich and poor through private education? Reject it.


All of this depends on how we respond to the ‘shock and awe’ of both the pandemic and its response. We’re living during a crisis when it’s almost certainly necessary to bring in the kind of authoritarian measures we’d reject at any other time. While we need to move quickly, we still need to subject legislation and new social norms to some kind of scrutiny.

This period in history provides us with a huge opportunity. When I was a History teacher, one of my favourite things to teach kids was about revolutions; about times when people took things into their own hands. There’s the obvious examples, for sure, like 1789 and the French Revolution.

But perhaps my absolute favourite was for them to discover what happened after the Black Death ravaged Europe in particular in the 14th century. Unable to find enough workers to work their land, lords had to pay peasants several times what they could have previously expected. In fact, it led to the end of the entire feudal system.

We have the power to achieve something similar here. Except instead of serfdom, the thing we can escape from his neoliberal capitalism, the idea that the poor should suffer for the enrichment of the elite. We can and should structure our society so that never happens again.

In other words, never waste a crisis. What are you doing to help the revolution? Remember, when it comes down to it, power is always taken, never freely given.


BONUS: after writing this, I listened to a recent a16z podcast on Remote Work and Our New Reality. Worth a listen!


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Quotation-as-title by Ralph Waldo Emerson. Header image by Ana Flávia.

What would you do if you were the richest man in the world? Now you can find out!

This is simultaneously amusing and horrifying:

A simple text-based adventure exploring the age-old question: What would you do if you had more money than any single human being should ever have?

It’s a text-based adventure game that gives you options as the richest man on earth, while educating you on how that money was amassed, and the scale of what would be possible with that kind of wealth.

Source: You Are Jeff Bezos

Reduce your costs, retain your focus

The older I get, the less important I realise things are that I deemed earlier in life. For example, the main thing in life seems to be to find something you can find interesting to work on for a long period of time. That’s unlikely to be a ‘job’ but more like a problem to be solved values to exemplify and share.

Jason Fried writes on his company’s blog about the journey that they’ve taken over the last 19 years. Everyone knows Basecamp because it’s been around for as long as you’ve been on the web.

2018 will be our 19th year in business. That means we’ve survived a couple of major downturns — 2001, and 2008, specifically. I’ve been asked how. It’s simple: It didn’t cost us much to stay in business. In 2001 we had 4 employees. We were competing against companies that had 40, 400, even 4000. We had 4. We made it through, many did not. In 2008 we had around 20. We had millions in revenue coming in, but we still didn’t spend money on marketing, and we still sublet a corner of someone else’s office. Business was amazing, but we continued to keep our costs low. Keeping a handle on your costs must be a habit, not an occasion. Diets don’t work, eating responsibly does.

What is true in business is true in your personal life. I’m writing this out in the garden of our terraced property. It’s approximately the size of a postage stamp. No matter, it’s big enough for what we need, and living here means my wife doesn’t have to work (unless she wants to) and I’m not under pressure to earn some huge salary.

So keep your costs as low as possible. And it’s likely that true number is even lower than you think possible. That’s how you last through the leanest times. The leanest times are often the earliest times, when you don’t have customers yet, when you don’t have revenue yet. Why would you tank your odds of survival by spending money you don’t have on things you don’t need? Beats me, but people do it all the time. ALL THE TIME. Dreaming of all the amazing things you’ll do in year three doesn’t matter if you can’t get past year two.

These days we have huge expectations of what life should give us. The funny thing is that, if you stand back a moment and ask what you actually need, there’s never been a time in history when the baseline that society provides has been so high.

We rush around the place trying to be like other people and organisations, when we need to think about what who and what we’re trying to be. The way to ‘win’ at life and business is to still be doing what you enjoy and deem important when everyone else has crashed and burned.

Source: Signal v. Noise

Wielding your pension fund for good

Some wise words in this article in The Guardian from Aditya Chakrabortty. Perhaps it’s my age, but I’m increasingly aware of the power that we have, collectively, around where and how we spend and save our money.

In big French companies, pension savers are offered the chance to invest 10% of their money in a fond solidaire, or solidarity fund, which supports unlisted social enterprises. In Britain, your average pension member doesn’t even get consulted on what values they’d like their money to support – whether fighting climate change or building social housing. Yet, rather than tackle those issues, the Labour party seeks to build a parallel finance system, in the form of a National Investment Bank, while other left economists talk about building a sovereign wealth fund, just as Norway has done with the proceeds of North Sea oil.

But we have a sovereign wealth fund already. It’s worth over £2tn and it’s called our pension funds. The big battle is to give us agency over our own savings, rather than leaving it all to some pinstriped manager on a fat commission.

I have several pensions (Teachers’ Pension, Local Government, personal, Moodle…) and, as much as I’m able, I ensure that the money is being ethically invested. There’s so many frontiers on which we can change the world, not all of them are super-exciting…

Source: The Guardian

 

The role of Lady Luck

This post on Of Dollars and Data is a bit rambling, at least from my perspective, but I did like this paragraph:

Think about the story you tell yourself about yourselfIn all the lives you could be living, in all of the worlds you could simulate, how much did luck play a role in this one? Have you gotten more than your fair share? Have you had to deal with more struggles than most? I ask you this question because accepting luck as a primary determinant in your life is one of the most freeing ways to view the world. Why? Because when you realize the magnitude of happenstance and serendipity in your life, you can stop judging yourself on your outcomes and start focusing on your efforts. It’s the only thing you can control.

I think this chimes well with Stoic philosophy: focus on the things within you control. There are going to be times in all of our lives when bad things happen. Conversely, there are going to be times when good things happen. We can’t control anything apart from our reactions to these things.

Source: Of Dollars and Data

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