Over-50

Antiwork Movement - Broken Careerist Boomers Join (in spirit) Millennials and GenZers

"Just terminated my longest standing vendor! Reason: they treat their employees like shit." - Antiwork Subreddit on Reddit, January 17, 2022

Many of the posts on the Antiwork Subreddit showcase a new ethos about having to pay the bills. It's about just that: having to pay the bills. And w/o the 20th century fierce careerism. Hold the pain.

DOREEN FORD, DOG WALKER

The New York Post coverage of the antiwork movement features Doreen Ford, moderator of that Subreddit.

Ford is paying her bills by dogwalking 25 hours weekly.

She had left her more traditional way of earning a living in retail.

Obviously, she is in the front lines of those who are reimagining "work." No, it doesn't have to be filled with indignities, outrageous demands, unfair compensation, and a lack of psychological safety.

Nonono, work doesn't have to hurt. Not in the stomach. And not through the torment inflicted by those cunning monsters of the mind.

ESG AND THE SOFTENING OF CAPITALISM

That emerging conception of earning a living on our terms aligns with the values in ESG - Environmental, Social, and Governance principles.

They were initially set in play by the United Nations in 2003. Essentially that was about making capitalism more accountable to planet earth, people, and corporations themselves. 

CAREERIST BOOMERS, WITH REGRETS

Although the voices among the 1.6 million Antiwork Subreddit users are primarily Millennials and GenZers, we boomers are there in spirit.

Believe me, our mantra increasingly has become: "We took 'it' (that is, the career) too seriously."

A predominant fantasy is that we had made the leap into adulthood - the reality that we had to support ourselves - by knowing that it was just a job. 

The good news is that more and more of us boomers are currently living out that fantasy. Because of inflation or boredom or satisfaction from what we do so well, we remain in the workforce.

LIGHTNESS OF BEING

But it's with a lightness of being.  Working, w/o the searing pain. How do like them apples. 

Not that learning to relax, to approach professional tasks with calm has come easy. 

Actually it took me eight months of hard time: observing,  analyzing, and mirroring the chairperson of an elite law firm whose signature is calm. I had encountered him in covering his business for my syndicated legal blog Law and More.

Of course, he may be perceived as an aberration in the angst-ridden world of Big Law.

But calm has structured for him the unique force field which could have created the platform for his extreme success. Seemingly w/o the standard suffering. 

That's Brad Karp at Paul Weiss.

Law360 Pulse rated Paul Weiss as among the top 10 most prestigious law firms. 

No accident, Karp invented the first ESG practice in the legal sector in the spring of 2020. He picked right up that, as we used to say in the late 60s: The world, it is a-changin' ... Also, the guy is nice.

THE FUTURE OF WORK

Lots of supposed experts are pontificating about the future of work. In my communications assignments for human-resources consultants I analyze their forecasts.

But given all the new variables bouncing around and intersecting, no one can predict what work will look like in 2025.

Therefore, let's switch over to the wonderful power of not-knowing. And enjoy what we do to earn income.

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Boomers Revisit Andy Warhol - This Time Through Lens of Crypto

At his core, Andy Warhol had been a shrewd businessperson. He had sized up the market potential of the booming celebrity niche and went in there in an innovative way. 

If Warhol were alive in 2022, he would probably be focusing on - in this order - 1) putting venture capital into crypto and 2) purchasing a parcel of space in the Decentraland metaverse to exhibit his NFTs. The specific location would be downtown (as Token.com's head Andrew Kiguel recommends). 

VENTURE CAPITAL AS THE WHERE TO BE IN CRYPTO

Yes, venture capital is the where to be in 2022. Just as it had been in 2021 when $30 billion flowed into crypto. That had been four times the amount invested in 2018 which had been the previous record year.

As Crypto News reports, the money crowd has determined that venture capital is the best point of entry into crypto. 

"SEC V RIPPLE LABS" SPOOKED ICO INVESTING

That is in contrast to the use of Initial Coin Offerings back in 2017 and 2019. Part of the reason that the ICO tactic has soured has been the landmark lawsuit "SEC v Ripple Labs, et al." Here is a copy of the complaint. Cooley is representing Ripple Labs.

That law firm recently has been in the news for another issue. It had refused to cave to Elon Musk's demand that it terminate an associae who had previously been with the SEC. That lawyer, currently with Cooley's securities practice, had interviewed Musk in a probe that had resulted in his stepping down as chairperson of Tesla and paying a $20 million fine. Yes, Cooley has been a profile in courage and integrity. 

Essentially the SEC is accusing the defendants of raising funds for XRP by selling unregistered securities. That is violation of Section 5(a) and 5(c) of the Securities Act of 1933.

Meanwhile, in play is the legal classification of "crypto." Right now, it's on the books as property not a security. But that might not be for long.

VENTURE CAPITAL GAME IS ACTION-PACKED

The venture capital game is about more than money.

It's a game that gets the players into a lot of action. They may themselves have been in crypto directly. Then cashed out. But they want to remain close to all that is happening. Or they simply assess this is the next big thing and are determined to participate in the journey. Some forecast that crypto is the next tech wave. 

ELITE LAW FIRMS RIDE IN AS THE POSSE

Cooley is not the only brandname law firm in the blockchain/crypto space. Yes, it has a formal blockchain practice.

But, like the launching of official ESG (Environmental Social Governance) practices, other law firms see the huge potential in guiding and defending clients in how they navigate this new technical, financial, regulatory, and litigation space.

In fact, those firms will probably be quite busy in 2022. That's projected to be when regulatory frameworks will finally be established. Meanwhile, the "Ripple" lawsuit is being closely watched. Depending on how it goes, there could be plenty more of those filed by both law enforcement and crypto competitors. 

A sign of where the law firms are putting their focus is how Paul Weiss has structured its crypto/blockchain practice:

" ... [It deals with] securities, broker-dealer regulation, commodities regulation, transactional intellectual property and technology, tax, company and fund formation, financing, token fundraising and alternative securities offering options (i.e., Reg A+, Reg D/506(c), Reg S, Equity Crowdfunding) ..  securities litigation, regulatory enforcement, economic sanctions and anti-money laundering, and cybersecurity-focused practices."

OLD TECH WILL ALSO NEED LOTS OF LEGAL HELP IN 2022

Today, The Wall Street Journal reports:

"Big tech companies are facing the biggest expansion in potential technology regulation in a generation. And while the jury is out on whether all that sound and fury will signify anything, for the first time there are signs that the big-tech backlash could have a substantive impact."

RISING TIDE LIFTS ALL BOATS

Across all industries, as Warhol would have picked up on, what's developing in both new tech and old tech has provided fresh business opportunities.

Since I had created a blockchain specialty in my communications boutique what has sprung up is an influential global network. Those on it would never have noticed me in my previous areas of communications expertise.

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

NFTs and More - We Boomers Have Been There Before with the Counterculture

"Investors and creators of nonfungible tokens -- a market that has ballooned to $44 billion, Chainalysis data show, and attracted fans from Justin Bieber to Melania Trump -- face billions of dollars in taxes and rates as high as 37%, according to tax experts. Internal Revenue Service officials who deal with tax evaders say they are gearing up for a crackdown." - Allyson Versprille, Bloomberg, January 14, 2022.

Because the NFT niche - both for creators and investors - is so relatively new there are many questions about taxes. The IRS hasn't issued much guidance. 

WHAT WE KNOW

Among the knowns for creators is that their profits if they sell, for instance, on OpenSea, will be taxed as ordinary income.

For investors, if they used crypto (which is classified as property, not a a security), that will be taxed as a capital gain.

Investors should know that they may have to file quarterly. And, even though the IRS is not providing too many details on how much should be calculated, investors are expected to come up with good enough math as not to be assessed as underfunding their tax liability. Meanwhile, they should anticipate the possibility of being audited.

Ambiguity won't get anyone in the crypto loop off the hook with the IRS.

BRING A LAWYER ALONG

In addition to the tax challenges associated with NFTs, there are plenty of other kinds of legal ones. Jones Day highlights them in its white paper. 

A number of law firms are establishing formal crypto/blockchain practices to manage for clients all the aspects, be it tax or IP, associated with what is being derived from the new technology. Those early adopter law firms range from Wilson Sonsini to Paul Weiss. 

Paul Weiss' crypto/blockchain practice  is structured this way:

" ... [It deals with] securities, broker-dealer regulation, commodities regulation, transactional intellectual property and technology, tax, company and fund formation, financing, token fundraising and alternative securities offering options (i.e., Reg A+, Reg D/506(c), Reg S, Equity Crowdfunding) ..  securities litigation, regulatory enforcement, economic sanctions and anti-money laundering, and cybersecurity-focused practices."

MYTH OF POWER TO THE PEOPLE

As with the late 1960s counterculture, blockchain technology has been positioned and packaged as Power to the People. That has been wrapped in the rhetoric of decentralization. That's tied with a bright bow called "The End of the MiddleMan." Go out there and do your own financial thing. Same for art. 

Nice ring to that. But when it comes to digital assets, there is much in the system in terms of must-dos. Or what will be interpreted as applying.

Smirk. That system includes crypto exchanges. You can't enter the crypto anything w/o a crypto wallet. And there are gas fees for the coins such as Ether. Those all involve middlemen. 

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Think Like a Lawyer: Don't Publish a Book

In all sectors, this used to be the rule: Publishing a book was the price of entry.

That mandate probably still holds for those running for public office. In fact, if someone has published a book, the buzz gets going that he or she will probably run for something. 

Currently, careerists can often get the same reach by having their public relations team land them a high-profile media placement. Then that content is repurposed in social networks, including TikTok, as well as a special event on the metaverse. And there you got it.

The reality is that often a tight, well-done article or a video interview can communicate the essence of what a book would have taken 250 pages to explain - or pontificate about.  

Another reality is that there are fewer people out there willing to take the time to read the book.

Gallup found that the average number of books (print, e- and audio) read annually has plunged from 15.6 in 2016 to the current 12.6. Also, the largest decline in reading has been among college graduates. My hunch is that after sizing up what has to be mastered for the test they get it that, no, you don't have to read a whole book to connect the dots on what's wrong with, for example, the bail system. 

Influential leaders in the legal sector have made it their business to be out there in the right media.

Dentons' Joe Andrew got his message communicated loud and clear about worker inequality through an essay in The Hill. The point was made. Anything more would have been a turnoff. Lot of other media outlets reprinted it. 

For Paul Weiss' Brad Karp, who was an early adopter in launching an ESG practice, the right placement was Corporate Counsel. That highlighted ESG trends for 2022. That was just enough and not too much for chief legal officers to digest. And the market segment for Paul Weiss' ESG practice are those in-house corporate leaders. What busy CLO is going to plow through a book on ESG ...

Sure, if a law firm chairperson is considering a campaign for U.S. Senator or Governor, do a book.

But the other ambitious law firm leaders, in addition to knocking out those articles/op-eds and appearing on "ABC," should also be doing this:  playing around with strategies for sponsoring forums, tutorials, and even business-development pitches in the metaverse.

With their profits from 2020 and 2021, they actually can afford to buy a parcel of property in the Decentraland or Sandbox. Location, as with brick-and-mortar real estate, counts for a lot. The best location is Downtown Decentraland. But those parcels are going fast. They have to do the buying now.

Tokens.com's founder and head Andrew Kiguel plans a gala fashion show staged on his Decentraland property. You bet the media is continually interviewing him. Here is The Wall Street Journal video one. Kiguel has become the thought leader to consult about metaverse trends.  His following on LinkedIn Updates keeps growing. 

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Reality - Not Only Is It Overrated, It Tends to Be Unbearable

"It’s possible to start to prefer engaging in virtual spaces because of the accommodations that they provide. As an avatar, I can be tall and skinny, I can be whatever I want. And if we start to shift into preferring a virtual life, that may then negatively impact our ability to engage in a non-virtual life, whether it’s self-confidence or belonging or social anxiety." - Rachel Kowert, researcher at Take That, quoted in The Wall Street Journal's article "The Metaverse's Effects on Mental Helath: Trivial or Troubling?" January 9, 2022.

The experiences in the metaverse happen through technology.

But, the virtual reality created is in essence not much different from the art the cavemen put up on the walls of their dwellings.

Or how Don Draper of "Mad Men" positioned and packaged the Kodak Carousal.

And the strategy of brilliant defense lawyers.

It's all altered reality.

There have always been humans who have been effective in redirecting minds to myriad other dimensions. That is from the same-olds of daily life on planet earth.

In general, we consumers of the altered reality have been grateful to be catapulted out of the numbing routines of everyday.

That's what drove us to follow "US v Elizabeth Holmes." What the defense team from Willliams & Connolly conjured up transported us into an analogy of the experience provided by that popular television series "The Twilight Zone." The lens was unique for floating into what-ifs. 

In an interview with Super Lawyers, Paul Weiss Chairperson Brad Karp captures that process in this way:

“In difficult matters, I will think about my clients’ problems night and day until a solution emerges. I’m a big believer in late-night epiphanies.” 

"Solutions," whether they are in the legal sector or my field of blockchain marketing communications, represent reality that has been massaged. When contoured in a way that fits with what humans will accept at the time the creators are rewarded well. Those goodies range from brandnames to wealth to simply more work assignments. 

Rather than isolating us humans altered reality often creates social cohesion.

We came together during "US v Holmes."

We come together playing video games.

And most of all we come together, including in our relationship with ourselves, in creating those realities. There are few experiences more heady and more uniting than being part of a team configuring a successul influence campaign. Those can be moments of collective ecstasy.

It was poet T.S. Eliot who noted in "Four Quarters" -

"Humankind cannot bear too much reality."

Unfortunately, those who are in the current front lines of tsk-tsk  in general and about the metaverse specifically don't get it that reality tends to be way overrated.

The less I seek reality out the more professionally successful I become and the more joyful.

It could be in the public interest to file a lawsuit against those tsk-tsks for creating a public nuisance and seeking injunctive relief.

Leave us alone to imagine. 

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Crypto and Boomers - No, Our Worry Shouldn't Be "Winter"

The headline on the front digital page of Bloomberg reads:

"Crypto ‘Winter’ Slows Volume on Some of the Biggest Exchanges"

So, what's a "crypto winter?" 

Tokenize.exchange defines it this way:

"Crypto winter refers to the worst period of the market when crypto prices including Bitcoin and other digital currencies are stuck at a low level following a bearish trend. This phenomenon often appears in the middle of the crypto long-term downtrend."

And critics of crypto are likley gleeful about the chill thrown on the crypto market. They could be hoping that the entire business of the digital asset class will go poof. A crazy fad. And that will be that.

Well, crypto investors likely are not in high angst about that. The reality is that that major revenue sources such as NFTs and the metaverse itself operate on the crypto economy. You can't start to do business in those without a crypto wallet. And transactions are done in crypto, especially Ether.

Also, law firms wouldn't have established formal crypto practices had they not anticipated those would be a solid growth area. Not long before they had set up formal ESG (Environmental Social Governance) practices to guide their clients through the global values disruption. They were on the money. And the need for that kind of specialized ESG guidance has exploded. 

Most of the law firms already "in crypto" had been considered "early adopters." 

But the proactive phase is ending. As Bloomberg also headlines today:

"Crypto Firms Brace for New Tax-Reporting Rules to IRS"

Instead of being considered "early adopters," those law firms providing crypto guidances are now simply "there" to serve clients and explain what they can do for prospects. 

And with regulations finally being shaped - this time in taxes - the clients and the prospects are asking questions. Plenty of them.

Those law firms which have crypto practices include:

Dentons

Paul Weiss

Wilson Sonsini

Perkins Coie

Rimon Law

Cooley

GoodwinLaw.

Also there are boutiques, like Blue Blockchain Law, totally in that space.

One of those - Paul Weiss - applies a multi-disciplinary approach to digital assets. It is structured as an elite Wall Street firm. Therefore, in-house it has the sophisticated expertise in all categories related to crypto. The Paul Weiss practice is rolled out like this:

" ... [It deals with] securities, broker-dealer regulation, commodities regulation, transactional intellectual property and technology, tax, company and fund formation, financing, token fundraising and alternative securities offering options (i.e., Reg A+, Reg D/506(c), Reg S, Equity Crowdfunding) ..  securities litigation, regulatory enforcement, economic sanctions and anti-money laundering, and cybersecurity-focused practices."

Obviously, that means it is the Paul Weiss kind of positioning which can steer clients through compliance. That regulatory risk, not any Crypto Winter, could be the most serious threat to the future of crypto. 

Feedspot selected Law and More as one of The Top 100 Legal Blogs.

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

You Aren't Necessarily Tech-Challenged - Crypto Is Hard to Use

In Web3 Hubs throughout America, there's the struggle to get a handle on where we are with crypto. One of those is in Miami, Florida. And Nancy Dahlberg reports there for Refresh Miami.

She notes that at the two-day La Casa Miami event Michael Arrington, founder of TechCrunch and current venture capitalist, was bullish on bitcoin. He noted, “We believe we are going into a supercycle in Bitcoin." He designated it as the only asset in the world which can be counted on.

But he did bring all that down to earth with the realities that crypto was hard to use for the average person and that the fees are too high.

I continue to back off from Ether because of the gas costs.

Investor Anthony Pompliano was more cynical. He described the market activity as "Buy Now, Learn Later."

Meanwhile, at the PreMoney conference, there was the warning not to be spooked by some of the recent downward trajectories in crypto. Instead, focus on the long term. What to fear was the possibility of centralization. Crypto could become a digital form of VISA. Those in the loop were told to be vigilant that doesn't happen.

There was the recognition that crypto is monetizing itself beyond the digital assets themselves. For instance, there is wealth to be built in making digital wallets. 

Of course, an undercurrent in the conversations was what would be the regulatory framework. Those directly involved with crypto are providing their input to the SEC. Their focus is beyond crypto to reforming investment laws in general. For instance, some advocate ditching the accreditation rules for investing.

The non-fun part is that there are legalities hovering over the whole crypto scene. Those are already in-place before any new regulations. They range from how the SEC currently defines "security" to how funds are transmitted. A growing number of law firms have established specialized crypto/blockchain practices to guide clients - now and when digital assets will probably be bombarded with regulations. Those law firms include:

Dentons

Paul Weiss

Wilson Sonsini

Perkins Coie

Rimon Law

Cooley

GoodwinLaw.

Also there are boutiques, like Blue Blockchain Law, totally in that space.

It will be interesting to assess if lawyers will help clients seize opportunities or will constrain possibilities.  With digital assets, will lawyers go down in history as the bad guys who kept saying "no," or those who developed creative ways their clients could become very rich? The lawyers at Big Law tend to be the latter. 

Of course, no one knows what will happen, not in crypto, not in regulations. 

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Really, Those Millennial Lawyers Pulling Down the Big Bucks Need Our Help

"We were carefree and exuberant, while you [Millennials] are dour and anxious. We had Woodstock; you have safe spaces. You are Alfred de Musset’s enfants du siècle, living in the shadow of an earlier, more exciting generation and conscious of having missed out on all the fun." - F.H. Buckley from Scalia Law School, in The Wall Street Journal, January 2, 2022.

The media outfits, ranging from legal to business, are in lockstep in reporting on law firm associates as unhappy, burning out, and either already mentally ill or heading toward that state of emotional distress. And, the law firm brass are taking it on the chin about the epidemic of such an unpleasant state of affairs. 

However, law firm chairpersons might try something. In the process they can liberate themselves from being cast in those media narratives as the bad guys and gals. 

Firms which tend to be innovative such as Dentons and Paul Weiss can pilot a mentoring program. Bring in us boomers to tutor all-too-serious millennial associates on how to change the channel in their heads. That can shift from seeing the world through the lens of gravitas to being totally convinced not much is worth taking serious. As they put it in the film "The Matrix Resurrections," associates have taken the blue pill.

We boomers ourselves were mentored in such a channel-change by Alfred E. Neuman "What Me Worry" of Mad Magazine. We had to be.

Just like the current millennials, our teachers, parents, church leaders, coaches, and part-time employers socialized us about the dangers of mirth.

After all, with so many of us, there was stiff competition for a seat in college, those entry-level jobs in Corporate America, and being selected for the country club to network. In Synder Public High School, in pre-gentrfied Jersey City, New Jersey, our freshman composition instructor regularly issued dire warnings about "falling by the wayside." We listened. Until we didn't.

Did we have fun. 

When the severe recession came mid-1970s, we had to do a reverse "Licorice Pizza" and grow up. Or pretend to. We never did lose our senses of humor. Even in the stern corridors of the Fortune 50, we would gather together and collectively deride management in unique funny ways. When we became management, we were even able to see how ridiculous we ourselves were. Yeah, conducting performance reviews of those reporting to us ... 

In the first tutoring session with associates we boomers will outline the fundamentals of incongruity - that is, the juxtapositions which make things belly-laugh funny. Likely we have no choice but to select examples from partner behavior. There should be plenty.

In the next tutorial, associates will share with the group why they are incapable of having fun - and position and package that as a mea culpa for being that way. 

The third mentoring experience will be to explain why the law doesn't make sense. After that, of course, they won't need us any more. They can never return to being so serious about what they do 10 to 14 hours a day. 

Meanwhile, the world needs to let it rip about what's so funny about all the blockchain and crypto memes. A good line could be a reverse Alfred E. Neuman: "You should be worried." Since digital assets are my special area of marketing-communications expertise I have been taking all that way too seriously.  

Feedspot selected Law and More as one of The Top 100 Legal Blogs.

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

The GI Bill: Boomer Paradise Found Became Later Generations' Paradise Lost

Part of the specialness of America: The children of ordinary people could attend college.

That kicked in with the GI Bill.

Acquiring a college degree became embedded as part of the American Dream.

Guidance counselers for the public high schools in pre-gentrified Jersey City, New Jersey, in the early 1960s, shephered us first-generation Americans into college. In those days it didn't have to be a brandname institution of higher learning. 

For us boomers things turned out okay. The degree was necessary for a position in Corporate America. That was all-good. 

The legacy of the GI Bill, as The Wall Street Journal keeps hammering, later became an American tragedy.

The most recent feature on this by the WSJ explains how the way payment for student loans is structured is a factor in the monster growth of the amount owed because of interest. 

Everything changes, right. Yet, what hasn't changed is the blind faith in degree-getting, particularly those degrees beyond the college one. The lion's share of those advanced degrees from elite academic institutions had not produced the ROI which makes financial sense. Many of those degree-getters could have been earning a comparable or better annual salary without an advanced or even a college degree. 

For example, according to ZipRecruiter, the national average long-distance truck driver's annual salary is $64,210. Smart Trucking puts the CDL training between $3,000 and $7,000. Loans are available, but they are usually paid off quickly - unlike most borrowing for advanced degrees which now are often dragged along for a lifetime. There are also free rides on the training for those willing to commit to driving for a certain company for about two years.

Despite all the exposes by respected media such as the WSJ and the passing on of the individual loan debt horror stories, life lessons have not been learned. Youth is still bellying up to the bar of higher education to become intoxicated on participating in an old-guard rite of passage. Yesyesyes, they got into elite New York University. Yesyesyes, their professors are in photo-ops at the White House. Yesyesyes, their fellow students are so smart.

Then comes the descent into job-reality hell. The world isn't clamoring for them, not even with a prestigious internship at X or Y. The pay is relatively low. It isn't going to go up much. Unless they reset their credentials they will likely never earn enough for an adult lifestyle. A smart second move might be to train for a manager's position in fast food or a supermarket chain.

In contrast there are those who even bypassed college. No, they didn't opt for truck-driving school. Instead they calculated how much they would have spent on education and invested that in cryptocurrency. They are the ones, documents Jefferies, making up the new under-35 market for luxury goods, both purchased in brick-and-mortar, and in the metaverse. 

There are also the entrepreneuers. Even if they are matriculating at a college, they are focused more on starting up a business than achieving high grades.

It seems so misleading to hammer youth with the almost moral obligation to get top grades. Probably not immediately post-graduation but soon enough they will discover that the "C" students are the bosses of the "A" students.

When the grade-grubbers were booking it, those less focused on academic excellence were enhancing their social skills. They might have wound up almost failing a course because they were consumed with campaigning to be president of the student council. Even if they had lost they had learned plenty about how to influence. Ask any C-Suite executive about the most important professional skill. Most will answer: the ability to sell, be it an idea or the reason why the team should be pumped. 

I have a hunch that at prominent law firms Dentons and Paul Weiss the Chairpersons Joe Andrew and Brad Karp got there and held onto the job not primarily because they are cognitive powerhouses. They may be. But intellectual smarts, as Dan Goleman documented, has diminishing returns along most professional paths. Success increasingly is the result of emotional intelligence. 

Smirk: Remember how the higher ed bubble was supposed to burst ...

Marketing communications for blockchain, cryptocurrencies, NFTs, and much much more (including waterproofing, roofing, and shipping containers). You want results. And that’s exactly what you get partnering with Genova Communications. Fees customized for your unique budget. Complimentary consultation - janegenova374@gmail.com.

Our Crypto, Taxes, and Regulatory Risk

Savvy investors, unlike many media outfits, are not necessarily spooked by the 32% drop in bitcoin since the November high of $68,000. On Friday, it was at $46,000.

Right now - and future regulations could eliminate this tax trick - bitcoin owners can take a deduction for loss and simultaneously be positioned for the next possible rally in bitcoin prices.

That's because, as Insider explains, bitcoin, like all cryptos, is classified as property. Not a security. As property, capital gains apply - as do capital losses.

Here's the important part: As property, the wash sale rule isn't relevant. The wash sale rule enters the tax calculation when a security is sold as a loss, then repurchased shortly after. No tax deduction can be taken. 

With bitcoin sold at a loss, there can be a deduction for capital losses. In addition, without penalty (that is, nixing the deduction) the former bitcoin owner can repurchase it at that lower price. If bitcoin surges back in value, those taking advantage of that particular tax rule can make a killing.

Essentially, this move should be regarded as a kind of use it or lose it currently. Regulations could eliminate that tactic.

Regulation is on the minds of the US Treasury, Federal Reserve, and Congress. Regarding the latter, this year US Senator Cynthia Lummis, reports Bitcoin Magazine, ie expected to introduce a comprehensive cryptocurrency bill.  Among its objectives are to provide guidelines for categorizing digital assets and to establish an official cryptocurrency regulatory agency.

In forming the regulatory framework, there will be an attempt to balance the public interest with the nation's ability to build, hold, and grow wealth through digital assets

A number of law firms have been proactive and have anticipated the coming of regulations. They have set up formal cryptocurrency/blockchain practices to guide their current clients and develop new business.  

Law firm Paul Weiss, chaired by Brad Karp, emphasizes that its practice is multi-discipline. Lawyers on the crypto teams, the website overview indicates, have:

" ... backgrounds in securities, broker-dealer regulation, commodities regulation, transactional intellectual property and technology, tax, company and fund formation, financing, token fundraising and alternative securities offering options (i.e., Reg A+, Reg D/506(c), Reg S, Equity Crowdfunding). [There are also lawyers with expertise in] securities litigation, regulatory enforcement, economic sanctions and anti-money laundering, and cybersecurity-focused practices."

In thinking about digital assets, constituencies be they government, media, newbie investors, or mainstreet have to recognize that the playing field is accommodating myriad other players, not just bitcoin. Among the most popular are Ether and Binance. The cryptocurrency narrative has to be broader than simply bitcoin. 

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