EA and Activision Blizzard CEOs featured in ‘The 100 Most Overpaid CEOs’ report

EA and Activision Blizzard CEOs featured in 'The 100 Most Overpaid CEOs' report

The chief executive officers of two major video game companies have found their way onto As You Sow’s 2019 report on “The 100 Most Overpaid CEOs”, a report that uses pay data to call out pay disparities in publicly traded American companies.

Both Electronic Arts’ Andrew Wilson and Activision Blizzard’s Bobby Kotick have earned spots on this year’s list along with the likes of Walt Disney’s Bob Iger, Netflix’s Reed Hastings, and 96 other high-earning execs. This all comes just a week after Activision Blizzard announced that it would lay off an estimated 800 employees following the close of a record year.

As You Sow takes more than a CEO’s yearly earnings into account when ranking its list, something detailed in full in the full report. In short, the organization looks at factors like total shareholder return and votes against CEO pay packages to calculate the chief execs earning in excess. The methods for calculating that exact excess can be found in Appendix C in the full report as well.

Following that methodology, the group clocked Activision Blizzard CEO Bobby Kotick as number 45 on that ranked list of the most overpaid CEOs. By As You Sow’s data, Kotick is paid $28,698,375 (an excess of $12,835,277 by the organization’s estimates). The ratio of Kotick’s pay compared to median worker pay at Activision Blizzard is 301:1.

The median pay ratio for S&P 500 companies is 142.1, while the median pay ratio for the 100 members of As You Sow’s list is 300:1.

Electronic Arts’ Andrew Wilson, meanwhile, is ranked a bit lower on the list as number 98. His yearly take is $35,728,764 (an estimated excess of $19,673,861 as determined by the report), a paycheck that was supported by 97 percent of shareholders’ votes. Though median pay ratio wasn’t used as a metric for ranking those high-earning CEOs, the difference between Wilson’s own pay and that of the median Electronic Arts employer is greater than Kotick’s. As You Sow records that ratio as 371:1.

The gap between median worker pay and CEO pay has ballooned in just the past several decades, as explained in the following quote captured by Axios.

“If you look at the pay of top CEOs relative to workers, that ratio in the 1950s was 20 to 1, was about 30 to 1 by the late ’70s, and by the mid-1990s it was 120 to 1,” said Robert Reich, former Labor Secretary for President Bill Clinton, during a recent call with Axios and other reporters. ”When I was working in the White House that was a cause of real concern. That ratio seemed appalling to most people. Now it’s 300 to 1.”

[“source=gamasutra”]

This Article Is Fake News. But It’s Also The Work of AI

Image result for This Article Is Fake News. But It’s Also The Work of AIThe use of fake news stories for political disinformation has become a major concern for governments around the world in the wake of the 2016 U.S. presidential election. The Federal Bureau of Investigation concluded Russia used false news reports, spread through social media, to try to sway voters. Writing these stories still needed someone to sit behind a keyboard.

Now OpenAI, a non-profit artificial intelligence research group in San Francisco, has unveiled a machine learning algorithm that can generate coherent text, including fake news articles, after being given just a small sample to build on. The algorithm can be tuned to imitate the writing style of the sample text.

Here’s an example of the system at work that OpenAI provided. The system was only given the first two sentences, which were written by a human:

A train carriage containing controlled nuclear materials was stolen in Cincinnati today. Its whereabouts are unknown.

And this is the rest of the news article that the AI wrote, with no human guidance:

The incident occurred on the downtown train line, which runs from Covington and Ashland stations.

In an email to Ohio news outlets, the U.S. Department of Energy said it is working with the Federal Railroad Administration to find the thief.

“The theft of this nuclear material will have significant negative consequences on public and environmental health, our workforce and the economy of our nation,” said Tom Hicks, the U.S. Energy Secretary, in a statement. “Our top priority is to secure the theft and ensure it doesn’t happen again.”

The stolen material was taken from the University of Cincinnati’s Research Triangle Park nuclear research site, according to a news release from Department officials.

The Nuclear Regulatory Commission did not immediately release any information.

According to the release, the U.S. Department of Energy’s Office of Nuclear Material Safety and Security is leading that team’s investigation.

“The safety of people, the environment and the nation’s nuclear stockpile is our highest priority,” Hicks said. “We will get to the bottom of this and make no excuses.

Because of its potential to be misused for creating disinformation, OpenAI said it had chosen not to make the most powerful versions of its algorithm available for public use nor was it publishing the source code and training data used to create the software.

 

[“source=fortune”]

The grip of technology

My Internet has been down since the morning of February 7 and, at the time of writing this on February 14, the problem was ongoing. So much for the “we will send a technician in three to five working days” promise made by my service provider. Imagine in this day and age that policy still exists, though. Life certainly is not on in that regard.

To be honest, this experience has taught me that in as much as I frequently threaten to drop everything and get off the technology grid for a few days, I really can’t do it. I feel completely lost. As lost as Hansel and Gretel wandering through a forest of technological frustration. All the devices and gadgets are there, but it’s like they serve no purpose. And to make matters worse, a few months ago I had cancelled my mobile data plan and opted for a call-as-you-go plan because I saw no need to keep paying for a data plan when there is wifi just about everywhere.

So basically, it meant that because I could not possibly work from home. I had to get up, get dressed, spend at least two hours in traffic to the office and back. And while I was at home, I had no way of getting quick information, no Netflix, no social media, no YouTube. I had no idea what mischief Fallon was up to in the latest Dynasty episode, had no idea what was trending on FB, unable to communicate via WhatsApp, nothing. When it came to helping my son with homework, I was unable to Google fast answers and had to resort to old school methods of guiding him along. It was either I read and re-read the method to change a decimal into a fraction until I grasped the concept (never did at school), or phone a friend (easier option). And while I did get time to do quite a bit of reading, my tech withdrawal symptoms were bad, to the point where I felt like the walls were closing in.

This whole experience got me to thinking, if my old Gen X tail, which is tottering on the borders of barely understanding the technology and embracing it, was having such a hard time coping with the absence of said technology, what can I expect of my ten-year-old who knows nothing else? Who, it seems, knew everything there was to know about an iPad from the day he was born. Who was so confused the first time he picked up a landline and heard a dial tone. “Aunty, come and hear the strange noise the phone is making,” he had said as he led her in earnest to where the fixed line was plugged in. Who assists me when I’m having problems with my computer and phone, very impatiently, mind you, because I’m “too slow”. The same kid who, a few weeks ago sat with his manual and set up his new PS4 with zero assistance from me because I didn’t know how to begin to help him. How can I now expect him to do things in the same way I did them?

I recall about a year ago he was doing his Vocabulary homework, and instead of using his hard copy dictionary he googled the words and wrote down the meanings. I, of course, insisted that he do it the traditional way – the way I knew how. “You won’t have a computer and Internet service in the exam room to Google the words,” I told him. “Neither will I have a dictionary,” he countered. “You are always saying I take too long to complete my homework. This way is easier and faster,” he pressed. He beefed up his argument with the fact that he knows how to use the dictionary in case there is a tech failure. He was right and I relented. Because lets face it, there is no going back to doing some things the old school way. Things like hard copy encyclopedias and dictionaries can now be deemed pre-historic.

So, I thought, if I have suffered so much from this experience, I can only imagine what he must be going through. How can I reprimand him for being in a foul mood because he can’t hook up with his friends on the PS to play Fortnite? Or because he can’t get some well-deserved time off after lessons to binge on one of his favourite Netflix series? Or that he can’t chat with his friend Isabella in Ohio on WhatsApp? I understand that reading, outdoor play etc are important and that there should be a limit on the amount of time children spend on screens. But just as my generation and the generations before and after had that special something that was “our life”, technology is this generation’s and we can’t fight it. No wonder he reacted as if there was a death in the family each time I threatened to sell or give away his precious devices as a form of punishment. After this experience, I will have to be a bit more lenient with my threats. Note to self, stay away from “sell” or “give away”.

As for my former Internet service provider, I thank you for the lesson, but I’ve learnt it well enough. I don’t want or need a repeat.

 

[“source=newsday”]

Recapping the saga of a misogynistic beer article that enraged the brewing world this week

There are stages to controversies in the social media age. First, the scandal breaks. Then it spreads. Criticism rains down on the perceived offender from across the internet. A few beats later, that person emerges publicly to defend themselves. The public generally rejects such an apology or criticizes the apology itself. Eventually, heads roll and/or the public moves on. End scene.

The craft beer world has moved through precisely those steps this week. A few days ago, an article published on the front page of regional beer publication Great Lakes Brewing News began making the social-media rounds. The article, which ran under the byline of Great Lakes Brewing News publisher Bill Metzger, ostensibly was about Scotch ale and cask ale, but its sexist tone drew swift and forceful criticism. Choice lines from the 2,800-word hybrid article/essay, which was written in the first-person, include: “In the age of #metoo, the pendulum has swung too far. One aggressive move and a man’s career can derail. I feel the walls closing around me, my room to move shrinking. My instincts to bed every woman I see are reducing from a king-sized mattress to a cot, the size of which I only remember from a tour in Iraq.”

You can read more excerpts via The Buffalo News, including the article’s repeated mentions of using alcohol to lower women’s sexual inhibitions.

When I first saw screenshots of the article, I blinked slowly. How was any of this about beer? How did this get published on the front page of… anything? What does Bill Metzger have to say for himself? Other beer writers and breweries themselves were equally upset, with some who’d advertised in the publication condemning the piece and withdrawing future ads. (Metzger’s Brewing News company publishes other regional beer newspapers as well.) Some breweries burned the publication in effigy.

So, we’ve arrived at the scandal stage where the accused emerges to defend themselves. Per a screenshot posted by the creative director for Chicago’s Pipeworks brewery, who criticized the article on Twitter, Bill Metzger responded to her with the below message which includes the by-now-a-punchline phrase: “I’m sorry you were offended.”

A statement on Great Lakes Brewing News’ Facebook page states the article was intended as parody and does not reflect the views of the author. Metzger’s statement continues: “Nowhere in this piece is there an endorsement of misogyny nor hatred. It is a simple parody of a disgusting attitude that I have seen often. We have been publishing the occasional piece that does anger people as some topics seem too toxic to discuss rationally. And it most certainly does not reflect my views; those who actually know me beyond a few articles written and/or published know that much.”

Forbes beer writer Tara Nurin, who has long covered women’s role in beer, spoke to Metzger by phone and found him “genuinely and deeply pained that his admittedly misbegotten attempt to highlight the problem of sexual harassment and assault in brewing has backfired so badly.” Still, she and other beer writers ultimately reject his parody defense, with writer Robin LeBlanc calling the whole mess “a special kind of trainwreck.” This beer writer agrees.

There’s never a good time for failed satire about sexual assault, but Metzger’s timing is especially bad. Earlier this month, the CEO of Actual Brewing in Columbus, Ohio, stepped down amid an investigation into allegations he repeatedly sexually assaulted multiple women. Last year, Jackson Hole, Wyoming-based Melvin Brewing faced backlash from retailers and customers after one of its brewers inappropriately touched an employee of another brewery, bringing to light what some called a larger “bro culture” within Melvin.

Though women in any male-dominated industry face challenges, those challenges can be especially dangerous when your daily job functions involve alcohol. I’ve seen the beer industry take important steps to make itself safer and more welcoming to women and minorities, but as recent stories of assault and discrimination illustrate, there is still much work to be done. That women’s painful efforts to share their #metoo experiences would be the object of abysmal satire only prove how long the road will be.

 

[“source=thetakeout”]

 

Self-love in the age of technology

As Valentine’s Day rolls around, here’s how technology took centre-stage in our ‘self-love lives’ — for better or worse

At 10.30 pm on October 29, 1969, the first message on the Internet was sent by UCLA student Charley Kline in the form of two letters ‘lo’. Romantics, to this day, debate that it was obviously meant to be ‘love’, whereas irrefutable records show Charley meant to type ‘login’ and the system had crashed after the first two letters.

Fast forward 50 years to present-day and we can send all sorts of lovey-dovey messages in the form of quick texts, GIFs, SnapChats, videos, Instagram stories… the list is endless. Given there are countless expressions and forms of love in the digital space, thanks to technology mediating everything we do, this behemoth blanket of binaries became more than just an aid — it is now a crutch, a platform and our confidante.

We’ve seen love traverse from paper to screen to holograms to Artificial Intelligence — even to the point when, if we’re bored enough, we can ask Siri if they love us. It’s not just romantic love to which our technology panders; there is body positivity and self-love, so let’s take a look at these, and evaluate if the Internet is doing justice or doing harm.

Micro-blogging sites such as Instagram and Facebook have contributed big-time to both the depreciation and appreciation of self-love. We tend to judge our self-worth in terms of likes, responses, the number of private messages we get, and so on. Maybe, ease up on social media, whether it means taking a break for a few days or even going full-Monty and removing yourself entirely from the platform to become more purposeful in other ways.

That’s what psychologist Raisa Luther of Hope Trust recommends too. “Mental health is impacted by everything around us. As the saying goes for our body: you are what you eat, the same goes for our mind as well. What we feed our mind manifests in good or ill mental health.”

“Further, technology is a highly powerful tool in developing or destroying relationships. It reduces the importance and need for face-to-face interaction — this can result in changing the very face and nature of human relationships,” Raisa continues, “I fear that we are so influenced by technology and its various components that we may one day forget what it means to be human, or feel human. I have seen the same in my practice, where people get so influenced by technology that it affects their self-worth, self-esteem and even their identity. FOMO leads to a lot of my clients leading dual lives — and sometimes it is difficult to maintain boundaries between an online persona and the real, offline self.”

We heart pods
  • Though the rise of the podcast was driven by true crime narratives, stories on the world of startups and more, Love and relationships have not been very far behind. The popular Modern Love podcast by The New York Times is one of the most popular podcasts in this genre. Bengaluru-based Paravathi Shiva, an IT specialist, says, “When I was growing up, dealing with college breakups and infatuations, you only had agony aunt columns or extremely weird late-night radio shows, where the host spoke in a high-pitched voice and dispensed repetitive advice. That has changed now. I am married now and listen to podcasts on relationships and more. Most of these podcasts are conversational and extremely relatable, making you feel like you are part of the conversation and not just a member of the audience. In the Modern Love podcast, I was very moved by the reading of You May Want to Marry my Husband, an essay written by writer Amy Krouse Rosenthal. It was beautifully-written, of course, but listening to it was even better.” Sales manager Shuvan C from Delhi agrees with this assessment. “I do not listen to many podcasts. However, I do like to listen in to the art of love podcast, where a dating expert offers an entertaining take on love and relationships. The best part about podcasts is that it is more informative and has lovely stories. I am single and feel that it makes me more confident to negotiate the complex web of relationships.”
  • (As told to Nikhil Varma)

However, studies show the response is quite dependent on a person’s disposition; are they naturally vulnerable to social pressures imbibed by technology? “We found that having a sense of purpose allowed people to navigate virtual feedback with more rigidity and persistence. With a sense of purpose, they’re not so malleable to the number of likes they receive… Purposeful people noticed the positive feedback, but did not rely on it to feel good about themselves,” surmises Cornell University professor Anthony Burrow, co-author of study ‘‘Likes’ less likely to affect self-esteem of people with purpose’.

Video ga-ga

YouTube, despite its ongoing strife around policy and content creation, does have its happy corners, and with beauty vlogging an all-time rage, the subculture of body positivity channels has been crawling up the subscriber ladder, but not necessarily T-series-style. And no, we aren’t referring to over-hyped fitness gurus or flat-tummy-detox-tea sponsors who live for monetisation!

Pooja Kochar runs one of India’s growing channels, ‘30ish’, for body positivity chats. “30ish is trusting its internal GPS and turning towards YouTube. We are being mentored by #YouTubeSpaceMumbai to understand viewer preference for digital content,” she says on her site, “We conceptualise, create content and manage execution of social media campaigns which are completely customised. These campaigns are further supported through our blog, Twitter feed and Instagram page. We will live your brand, to give it the most authentic narrative.”

The cross-promotion of platforms for community-driven positivity is ideal in rebuilding the YouTube algorithms a lot of users have a problem with, especially with the site’s very flawed and clearly capitalistic ‘Trending’ section. With the Internet brimming with life-threatening challenge videos and dangerous pranks, it’ll be useful to employ to our advantage.

So this Valentine’s Day, when you see hearts and cheesy texts floating around, be sure to love yourself first and foremost.

 

[“source=thehindu”]

The NBA All-Star Draft Featured Two Good Jokes And One Good Trade

LeBron James finally had a trade that he orchestrated go his way on Thursday. Unfortunately, that trade came in the context of a meaningless exhibition game.

Inside the NBA hosted the league’s first televised All-Star Draft, which featured the two captains, LeBron James and Giannis Antetokounmpo, bantering with the show’s crew while selecting their teammates for the February 17 showcase. The jokes were about as dad-like as you’d expect, with Ernie Johnson being the main host James and Antetokounmpo spoke to during their picks. Giannis, to his credit, did manage to make one of the two good jokes that came from the show

But the most surprising moment of this event came after the teams had been selected, when LeBron decided to put his GM hat on and propose a trade to the opposing captain.

LeBron: “Well since it’s that time of the year, Ernie, and I have a feeling that Giannis would love to see Russ [Westbrook] and [Joel] Embiid be teammates—because we know how much they get along—I’m proposing a Russell Westbrook for Ben Simmons trade.”

For context, Giannis had previously mentioned how he wanted to bring the two feuding sides of Embiid and Westbrook together through the magic of the All-Star Game, because he’s “all about love” and “a lover not a fighter.” LeBron apparently figured he could bring Simmons, who James had wanted but missed out on, to his team while bringing some minor chaos to the event. Unsurprisingly, Embiid reacted on Twitter.

The cherry on top of the whole event was Charles Barkley interjecting after Giannis agreed to the trade that the Greek Freak should consider trading his whole bench for Anthony Davis—which was the second good joke of the show.

[“source=deadspin”]

 

The best from the science journals: Story of sleep and sea stars

Here are some of the most interesting research to have appeared in top science journals last week

Rock-a-bye baby

Published in Current Biology

Have trouble sleeping? Buy a rocking bed. Two studies published last week have found out that continuous rocking helps in falling asleep faster and sleeping more soundly. In the first study, 18 adults underwent a sleep monitoring programme in a lab and the researchers noted that the group that slept on a gentle rocking bed had more non-REM deep sleep. The second study carried on mice was able to point out that the rocking promoted sleep through a rhythmic stimulation of the vestibular system(the region in the inner ear that maintains balance).

Expanding jelly tablet

Credit: MIT

Credit: MIT

Credit: MITPublished in Nature Communications

Similar to the growing water jelly balls you have at home, MIT engineers have designed a soft tablet that can grow in your stomach and stay there for about a month. But why? The researchers say that this hydrogel device can be used to closely study the digestive system. It can even help monitor medication-taking patterns, track cancers or ulcers in the gastrointestinal tract

 

King-sized in Kuiper

Published in Nature Astronomy

The Kuiper Belt, the doughnut-shaped ring of icy objects beyond Neptune, has always fascinated astronomers. Believed to be leftovers of the early Solar System, objects floating in this belt help to understand the formation and evolution of our Solar System. Now astronomers have discovered a Kuiper belt object with a radius of about 1.3 km, the largest discovered so far. They hope to decipher more about the growth phase of objects and planets in the outer Solar System.

‘GO dough’ graphene

Credit: Northwestern University

Credit: Northwestern University

 

Credit: Northwestern UniversityPublished in Nature Communications

What happens when scientists awaken the child in them? They create play dough with a twist. A group of researchers from Northwestern University, USA has turned graphene oxide(GO) into a soft dough that can be shaped into 3D structures. The GO dough makes storage and transport of graphene oxide easier. It also has enhanced the mechanical properties of graphene and can be used to make electrocatalysts.

See you, sea stars

The sea star: A side-by-side comparison of two photographs taken near Croker Island in British Columbia. At left, thousands of sunflower sea stars swarm Croker Rock on Oct. 9, 2013. At right, the same site, three weeks later, with the sea stars vanished.

The sea star: A side-by-side comparison of two photographs taken near Croker Island in British Columbia. At left, thousands of sunflower sea stars swarm Croker Rock on Oct. 9, 2013. At right, the same site, three weeks later, with the sea stars vanished.   | Photo Credit: UC Davis

Published in Science Advances

After affecting corals and crustaceans, warming oceans have now led to a massive decline in sea star population. Researchers have pointed out that infectious viral disease and increasing sea surface temperatures are the

main reasons. Divers noted that between 2013 and 2017, the population collapsed and they were unable to find the sea stars in areas where they once reported an abundance of the species.

 

 

[“source=thehindu”]

20 Inspiring Quotes About Money From The Richest Billionaires

Ever wish you could spend a few days with some of the world’s billionaires, just to learn some of what they know?

Maybe not to become a billionaire yourself, but to find out just enough to kick your own finances into high gear?

Money Quotes for the 20 Richest PeopleGETTY

Since that’s impossible for the vast majority of us, I settled for inspiring billionaire quotes. Maybe they don’t give specifics, but perhaps they can point us in the right direction.

Now there are hundreds of billionaires in the world, so I settled on digging up money quotes from the top 20. The billionaires are drawn from Forbes’ The World’s Billionaires for 2018.

As it turned out, it ended up being 20 of the top 26. Just like the rest of us, it seems some billionaires prefer to be private people, and don’t say much in public.

Nonetheless, the names on this list are as impressive as the statements they make about money.

1. Jeff Bezos

Jeff Bezos – ASSOCIATED PRESS

The founder of Amazon is the wealthiest man in the world, with an estimated net worth of $112 billion. And he’s only 55. His wisdom:

“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”

The operative word here is frugality, as in limited resources. Just as it drives innovation, it can force you to invent your way out of a tight box. Put another way, it’s often cheaper to create something than it is to buy it.

There are limitations of course, but when it comes to money, frugality is basic. To begin saving and investing money, you must first master the art of living beneath your means.

2. Bill Gates

Bill GatesASSOCIATED PRESS

The founder of Microsoft, estimated to be worth $90 billion, is also rich in quotes. But this one stands out:

“If you are born poor it’s not your mistake, but if you die poor its your mistake.”

No, you can’t do anything about the circumstances you were born into. But where you go from there is up to you. You may not be able to choose to be a billionaire, but you do have an opportunity to improve your finances and your life at any time.

3. Warren Buffet

Warrren BuffetASSOCIATED PRESS

The chairman and CEO of Berkshire Hathaway is estimated to be worth $84 billion. Probably the most quotable of all billionaires, I found this one to be the most life changing:

“If you don’t find a way to make money while you sleep, you will work until you die.”

Think about it: if you can only make as much money as you earn, you’re limited by the number of hours you can work and the effort you can put out. But if you develop ways to make money, even when you’re not working…that’s the life changing part.

4. Bernard Arnault

CEO of LVMH Bernard ArnaultASSOCIATED PRESS

The chairman and CEO of LVMH (the world’s largest luxury goods company) is estimated to be worth $72 billion. That makes him the wealthiest person in Europe. He had this to say:

“Money is just a consequence. I always say to my team, ‘Don’t worry too much about profitability. If you do your job well, the profitability will come.’”

Before you can make money, you have to first create something of value. That goes for investing as well. The companies whose stocks perform the best over the long-term are the ones that consistently add value. There’s insight in that quote, both for running a company and investing money.

5. Mark Zuckerberg

Facebook’s CEO Mark ZuckerbergASSOCIATED PRESS

The youngest member of the 20 richest billionaires, Zuckerberg is estimated to be worth $71 billion. The co-founder and CEO of Facebookonce said the following:

“ The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

There’s no way to be successful without taking risks. That’s as true in investing as it is in a career. If you invest too conservatively, such as putting all your money into safe investments and avoiding equity investments like stocks and real estate, you’ll be lucky if you can keep up with inflation.

6. Amancio Ortega

The founder of the Zara clothing and accessories chain is the second wealthiest man in Europe, with an estimated net worth of $70 billion. At 80 years old, he offers up this revelation:

“I’ll keep working until the end.”

Most people dream of retiring, and here’s a man who could have done it at any time, but chose not to. Great things can happen at any stage of life. And maybe the story of this man is that creating the ability to retire is more important than retirement itself.

7. Carlos Slim Helu

Carlos made his estimated fortune of $67.1 billion mostly in telecommunications. But looking at the big picture, he once had this to say:

“Low interest rates are a big opportunity for investment. But the issue is that this money should go to the real economy, not the financial economy.”

Moral of the story: invest in things that are real, and have lasting value. That can seem counterintuitive in today’s hyper-financialized economy. But if you look at the companies with the biggest market capitalizations, like Amazon, Google and Apple, they’re all providing valuable products and services. Interest rates and stock prices may rise and fall, but value endures.

8. Charles Koch

The co-owner of Koch Industries with his brother David (see below), is worth an estimated $60 billion. He had this to say:

“Relentlessly strive to come up with new and better products and produce them more efficiently than the alternatives.”

This is excellent advice in choosing a company to work for or invest in, or if you’re planning to launch a business. Growth has to be continuous, otherwise you become a “me too” competitor, destined for a less optimistic outcome.

9. David Koch

The other half of the Koch Brothers, David is also worth an estimated $60 billion. His advice comes from a different direction entirely:

“You know, once you’ve stood up to cancer, everything else feels like a pretty easy fight.”

His ongoing fight against cancer has given this multi-billionaire a deeper perspective on life, and one we shouldn’t miss. Money challenges may not be the biggest battles you’ll fight in life. With that in mind, keep it all in perspective and work to achieve balance in your life.

10. Larry Ellison

Larry Ellison, center, co-founder of Oracle CorporationASSOCIATED PRESS

The co-founder, CEO and chief technology officer of Oracle is worth an estimated $58.5 billion. He advocates following your dreams:

“I believe people have to follow their dreams – I did.”

Before you can achieve anything meaningful you have to start out with a dream. That’s another counter-intuitive notion in a world where young people are often encouraged to pursue a “safe career”. With dreams comes passion, and the money usually follows. Larry Ellison’s life and success certainly make that point.

11. Michael Bloomberg

Worth an estimated $50 billion, Michael Bloomberg is the owner of the Bloomberg empire, and the former mayor of New York City. He offers this insight:

“America is built around this premise that you can do it, and there are an awful lot of people who are unlikely to have done it who did.”

Did you ever think about doing something big, but avoid acting on it? Maybe you thought people like me don’t do things like that. According to Michael Bloomberg, this may be completely wrong. Many of the greatest success stories in history were achieved by people considered to be unqualified. Whether you have a business idea, or you want to begin investing, never let that stop you.

12. Larry Page

The co-founder of Google (with Sergey Brin – see below), Page has an estimated net worth of $48.8 billion. He recommends focusing on the future.

“Lots of companies don’t succeed over time. What do they fundamentally do wrong? They usually miss the future.”

There are plenty of well-established companies that have a long, successful track records. But the companies people are getting rich investing in are the ones that are building the future. You’ll want to hold some of these companies in your investment portfolio, along with the steady performers. They may also be the richest employment opportunities.

13. Sergey Brin

Google’s other founding half is worth an estimated $47.5 billion. He offered this perspective:

“I feel there’s an existential angst among young people. I didn’t have that. They see enormous mountains, where I only saw one little hill to climb.”

If you view a path or goal as too intimidating, you might choose not to even pursue it. It seems Sergey is challenging us to lower the obstacles and focus on what’s on the other side of what seems to be an mountain. Rest assured if a hill looks like a mountain to you, it does to others as well. That’ll cut down on the competition. That’s exactly why it might not be as challenging as you believe it to be.

15. S. Robson Walton

Three of the children of Walmart founder Sam Walton – Jim Walton, S. Robson Walton and Alice Walton – occupy the 14th, 15th, and 16th spots on the list of the world’s richest billionaires, each with equal wealth. But so as not to draw too much inspiration from the same family, let’s look at a quote from S. Robson Walton (estimated net worth: $46.2 billion).

He had this to say:

“I learned from my dad that change and experimentation are constants and important. You have to keep trying new things.”

Translation: don’t get too set in your ways. The world, the economy and the markets are in a state of constant change. Be ready to roll with them, and to do some experimenting along the way. That might mean changing the way you do business, or the way you invest your money.

17. Ma Huateng

This billionaire made his estimated $45.3 billion fortune in internet media. He offered this advice:

“The leader of the market today may not necessarily be the leader tomorrow.”

In business as in investing, change is a constant. Technology, markets and leadership change constantly. An excellent example is Sears. It was Walmart before Walmart came along. But things change.

19. Mukesh Ambani

Mukesh is the chairman and largest investor in Reliance Industries Limited, the Indian company with the largest market capitalization. He’s personally estimated to be worth $40.1 billion. He warns us to be ready for a few setbacks:

“If there are some losses that you take, then we’re all big boys – we shouldn’t be crying.”

In any venture you embark on, be it a career, a business venture, or an investment, you’re going to experience losses and failures. They’re not aberrations – they’re normal. Don’t be beaten by them, but instead see them as part of the path forward.

20. Jack Ma

Chairman of Alibaba Group Jack MaASSOCIATED PRESS

The co-founder and chairman of technology giant, Alibaba, is estimated to be worth $39 billion. His advice:

“I’m coming to this world not to work. I want to come to this world to enjoy my life. I don’t want to die in my office. I want to die on the beaches.”

Here’s a guy who’s figured out what it’s all about! Sure, you’ll need to work hard in your life. But it shouldn’t be an end in itself. Work should be to bring you as close to the life of your dreams as possible.

21. Sheldon Adelson

The founder and CEO of Las Vegas Sands Corporation is worth an estimated $38.5 billion. He offers up this advice on the long-term:

“Why do I need succession planning? I’m very alert, I’m very vibrant. I have no intention to retire.”

That’s the opinion of a man of 85! We should suspect this is a man who thoroughly enjoys his work, and has no plan to retire – the exact opposite of Jack Ma. And as the saying goes, if you enjoy what you do, it won’t feel like work. That’s probably where this billionaire is at, and it’s a sage concept for the rest of us.

22. Steve Ballmer

The former CEO of Microsoft, Steve Ballmer is estimated to be worth $38.4 billion. Ballmer looks at the darker side of success:

“When you’re running a company, you have employees – lots of them – that can interrupt your schedule. You have customers that can interrupt your schedule. You have a certain obligation to wave the flag because people expect to get out and wave the flag. The number of ways that others can command your time is high.”

Inevitably, there’s a trade-off between time and money. As you move up the ladder of success, there are more demands on your time. If you’re planning to jump on the fast-track, this is something to expect and to be prepared for.

26. Wang Jianlin

The founder of Dalian Wanda Group, China’s largest real estate development company, is worth an estimated $30 billion. He offers up another lesson in frugality:

“I am not a person who pursues luxury. I am not like those people who, once they have money, compulsively squander it or show it off.”

There’s deep wisdom in this quote. Here’s a man who’s worth billions, and he still lives relatively close to the ground. The takeaway for the rest of us might be, while it’s okay to enjoy some of your money, don’t get too caught up in the lifestyle it provides. Always be prepared to reinvest in your business, your career or your investment portfolio.

Final Thoughts on the Top Money Quotes for the 20 Richest People in the World

Most of us will never be billionaires, or even close. But it’s clear these are people who have deeper insights into both the power and limitations of money. We can all improve our careers, businesses and financial situations by paying close attention to the hints they offer with their occasional public commentary.

They may not change our lives overnight, but they can certainly get us heading in a better direction.

 

[“source=forbes”]

This is what I’m teaching my kids about money (that I learned the hard way)

Image result for This is what I’m teaching my kids about money (that I learned the hard way)For many parents, broaching the subject of money with their children can be a minefield. Even parents who want to teach their children about personal finances struggle to have those conversations. That’s especially true when their kids are young: In a recent survey by Edelman Financial Engines, 49% of parents with children aged 4 to 8 said they didn’t know how to talk to their kids about money. But about 90% of them felt it was important that their children have sound financial habits, and admitted that they should be the ones to impart those habits.

I spoke to a number of parents who have taken that to heart and are making the effort to talk to their children about money. For all of them, their approach is a departure from their parents’ attitude toward finances. Most of their parents tiptoed around the subject, whether they grew up in a working class or upper-middle-class family. “My dad managed the money, and I think my mom was on an allowance,” Katie*, a 56-year-old teacher based in Phoenix, told me. “It was kind of like the man worried about the money; this was a traditional Texas home. I don’t really remember my parents ever talking about it.”

Some of the people I heard from made poor financial choices early on because their financial literacy was so low. Leslie Forde, who works in publishing and runs a self-care site for moms, says that during her first year of college, she opened a credit card and swiped it too frequently. “I was really sloppy about financial management that first year until I ran into having to pay down debt,” she says. “I realized that you’re paying a real premium and interest when you use credit card debt. After that experience, I became kind of obsessive about learning about personal financial management and planning.” Bob Moul, who works in tech and now advises his employees on saving and investing, grew up in a working class family and had to give himself a crash course in personal finance, years into his marriage and well into raising children. “This has all been a process of painful discovery,” he says.

As they raise kids, these parents are trying to strike a balance, cultivating good financial habits and offering guidance without overloading their kids with the minutiae and weight of family finances.

STARTING YOUNG

Kids establish spending habits by the age of 7, according to finance writer Beth Kobliner. That’s why parents like Forde—whose kids are 4 and 8, respectively—have already started conversations about money. “I’ve tried to introduce these more mechanical concepts that I was missing–the actual routines associated with managing money and tracking money,” she says. “And I try to introduce it in age-appropriate ways.” Over the summer, she took her kids into the bank for a “kid’s day” event, during which they transferred the contents of their piggy banks into bank accounts with interest. “When their statements come in, I show them how their money is increasing,” she says. “Granted, the interest rates are paltry. But I’m showing them that just by their money sitting at the bank and not in their piggy bank, it’s actually making them more money.”

Forde also talks to her kids often about the idea of making “trade-offs.” If her son wants new toys, for example, they calculate how much each costs while in the store, and talk about how he can swap out toys to stay within his budget. She uses a similar framework to talk to them about things like housing as well—why they live in a condo outside Boston when their cousins live in a two-story home in Florida, and what lifestyle changes they would have to make to afford a house like that. “I really try to explain, in terms they can understand, that there are trade-offs associated with what you want, and what you can have in the moment versus what you can have in the future,” she says.

Ben Carter, the cocreator and cohost of a podcast and show about personal finance, is already thinking about how to talk money with his kids, barely three months after becoming a parent to triplet girls. Carter, for his part, was acutely aware of finances from an early age. That awareness was self-initiated, he claims, not a function of how his parents talked about finances. “In my mind, my family didn’t have as much money as I thought you needed to feel comfortable,” he says. “That could have been a figment of my imagination. We had everything we needed. But I had this notion that, ‘Oh my gosh, we’re getting by day by day.’”

When it comes to his own children, Carter’s wife doesn’t want them to be as preoccupied with money as he was. “My wife doesn’t want our kids to grow up with an overwhelming sense of what money is, so for me it’s about trying to find a balance,” he says. “How can you teach it in a way that’s more casual and part of our day-to-day, week-to-week lives?” One example of that is talking about the cost of groceries, Carter says. “You’re learning these concepts that, as an adult, you’ll find are directly related to money,” he says.

With his first three children, Moul didn’t talk money until they were in their late teens, though he did expect them to do chores for an allowance and set them up with savings accounts. When he got remarried and had kids again, Moul was eager to start their financial education earlier. One of his priorities was to show them the power of compounding, and how they can have more in the bank simply by putting their money in the right place. “The main thing that I’m trying to get across–even to the younger employees I have–is the earlier you start, the better,” he says.

TEACHING FINANCIAL HABITS WITHOUT THE BURDEN

Some parents are wary of talking money with their children because they fear making them feel like they need to worry about family finances.Simone Oppenheimer says of her parents, who were the children of immigrants, “I think that there’s kind of a trend in that first-generation Americans felt like they put a lot of burden on their parents, watching them work so hard and try to provide for large families. Our parents tried to shield us from that burden.” They projected financial security and didn’t expose their kids to financial struggles or limit their opportunities, Oppenheimer argues. When she attended a private college, Oppenheimer says, she didn’t fully grasp the cost of her education, and how much of a dent that put in her parents’ finances.

Though her kids are young (both below the age of 7), Oppenheimer seeks to familiarize them with financial realities, albeit without overloading them. “I went to a Jewish private school, and my kids do as well,” she says. “I’m much more transparent about the fact that they go to a school that costs money.” If her children ask why a friend has something that they don’t, she explains that she values certain things–their schooling, for example, or healthy food–and prioritizes putting money toward that. Oppenheimer has already seen her kids internalize some of those lessons. When she took her children to the grocery store recently, her son put part of his $5 allowance toward buying oranges and contributing to their groceries. (“I’m going to buy two oranges to help you,” he said.) “He’s realizing that it’s helpful, and money means something–and that mommy earns what we use,” Oppenheimer says. “He didn’t do it in a way that was guilty or that he should help me. He was proud of himself for his contribution.”

Oppenheimer has also tried to be cognizant of giving both her children the same financial education. Many parents make the mistake of encouraging their daughters to save and not take financial risks, while teaching their sons to invest and build wealth. Some even help normalize the workplace pay gap by modeling it in their own homes, paying daughters less than they do boys for comparable work–in this scenario, chores–or their allowance. “I have a boy and a girl, and it’s always really interesting to see the differences there,” she says. “I’m finding myself in my own biases and trying to push through that–and making sure that I’m raising two strong, independent kids equally.”

Relieving some of the burden of personal finances includes illustrating where you can afford to spend a little. That’s why Katie taught her kids about the three buckets of savings: long term, mid-range, and “fun right now.” (Her youngest child had dubbed his mid-range savings pile the “Taylor Swift fund” while saving up money for concert tickets; the name stuck, though his enthusiasm for the singer did not.) “We’ve tried to teach them that saving is really important, but you also have to live your life,” she says. “You’ve got to have that fun stuff, too.”

PLANNING FOR COLLEGE

If there’s one reason to talk about money with your kids, it may well be this: As of last year, more than 44 million Americans are on the hook for more than $1.5 trillion in student loan debt. It’s no surprise that college–how to pay for it, whether to pay for it, what to expect of their children–is top of mind, even for parents of young kids. And in many cases, the choices parents make around paying for college have to do with how much financial support they received from their parents.

For Oppenheimer, whose parents footed the majority of her private college tuition, her experience and the changing job market convinced her that her children don’t need the kind of financial assistance she had. “I decided that I’m not opening a college savings account for my kids,” she says. “I don’t see the need to go to a private college in this day and age, for all that money, when college is not necessarily worth as much in terms of your future as it once was.” Oppenheimer adds that had she been expected to pay for college beyond a nominal loan she took out, she would have made different decisions. “I think at that age, it’s important for kids to start understanding the implications of their decisions,” she says. “I don’t see the harm in having kids start saving for college or paying for it themselves. Maybe they’ll make smarter decisions and be more serious students if that’s the case.”

As a teacher herself, Katie has a similar take. “As a teacher, I see these kids going to these really expensive colleges,” she says. “I think it’s a shame right now in our society that the expectation is that you’re going to assume these loans.” When it came to her children, Katie set aside a fixed amount of money to put toward college; she sat down with each of them and laid out their finances and how much their savings would cover in terms of tuition. “We’ve tried to be very transparent with them,” she says. “I’m very debt averse. I try to instill that in them.”

But some parents want to give their children the financial support they didn’t have growing up. “[My parents] made it very clear that there was no way they were going to pay or even help pay for college,” Moul says. “Of the four of us, three of us did not go to college after high school. My second oldest sister did, and I’m amazed to this day that she pulled that off.” He ended up covering tuition for all three of his older children, though he did expect them to work during college and foot expenses like textbooks. “I wanted them to have a college education for sure, and if I could do it for them, I wanted to pay,” he says. “I also felt like if they’re going to go to college, let them focus on learning.”

Forde hopes to do the same for her kids, though she also expects them to contribute financially in some way. Her parents emigrated from Barbados and things were “very comfortable” when she was growing up. But her family’s financial situation changed when she was a preteen, and she ended up putting herself through school for most of college. She doesn’t want that for her kids.

“I want my children to have the experience of moving through the world and choosing the career and path that they love and that’s right for them–not just choosing a path that’s financially viable,” she says. “I want them to have some freedom and choice and less stress, frankly, associated with the climb from their academic life into their professional life. I would like them to be less stressed out about it than I have been.”

[“source=fastcompany”]

Fact Check: The news behind Indian woman soldier dying in Kashmir is fake

The post was also shared by hundreds of individual accounts on Facebook and Twitter.

A photo collage of a woman soldier is doing rounds on the social media claiming that she lost her life in Kashmir on January 23, 2019.

The archived version of the post can be seen here.

India Today Fact Check found this post to be totally false as no woman soldier died fighting this January.

The viral photo collage was posted by a Facebook page Bharatiy Yoddha’, which is followed by over 300,000 users. The post was shared by nearly 1,920 users.

The post was also shared by hundreds of individual accounts on Facebook and Twitter.

The viral post contains three photos of a woman soldier who, the post said, were martyred and two photos of the cremation ceremony. The translation of the viral post’s caption written in Hindi reads, Alas! Kashmir (23/1/19) Kavita Saini martyred, she was posted in Kashmir. May God rest her soul in peace. Pay tribute by writing Jai Hind..Jai Hind).

India Today Fact Check spoke to DIG of Central Reserve Police Force (CRPF), Dinakaran, who confirmed that the message attached to the viral post was completely false as no woman soldier have died fighting on the border in last one year. The officer also confirmed that the CRPF has never deployed women on the Kashmiri borders.

A Facebook profile named Kavita Saini’ also had these images uploaded on her timeline.

Through Kavita’s Facebook account, India Today Fact Check got a link to another Facebook user’s account which had posted more images of the same woman.

When the images were zoomed in, the name on the woman’s uniform badge revealed that her name is Kajal Kumari and not Kavita Saini.

A Google search about Kavita Saini showed an article published by Aaj Ki Satta, which also claimed that a woman named Kavita Saini was martyred in Kashmir.

The district bureau chief of the portal, Suresh Piplodiya told India Today TV that he had received this information from someone in Rajasthan and that he couldn’t confirm the source of the information.

The remaining two images claiming to be of the soldier’s funeral also do not belong to her. The first one belongs to Lance Naik Hamraj’s funeral who was killed by Pakistani soldiers on the LoC in 2014. The second one dates back to May 2017 when two Nagpur children died a tragic deathfrom electrocution.

India Today Fact Check also found that a Twitter account with Kajal Kumari’s name and her pictures in uniform. However, the account hasn’t shown any activity since March 2018.

The news behind Kavita Kumari’s death while fighting on Kashmir’s border is absolutely false.

[“source=indiatoday”]