$17 Trillion Cash Hoards💰, How To Quit Your Job

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Entrepreneurs: The Winners Of Online Dating

Entrepreneurship can be sexy.

According to data from dating website OkCupid, between July 2020 and July 2021, use of the terms "entrepreneur" and "self-employed" on profiles increased by 10%. And users who identify themselves as entrepreneurs had a better chance of getting a match's phone number. The company’s data scientists determined this by comparing the contact exchange (mobile number or email address) rates of profiles that mentioned "entrepreneur" or "self-employed" with the rates of profiles that didn't. Sure enough, the entrepreneurs were getting more numbers.

But there’s a catch.... 

Seems women entrepreneurs are more likely to get a match than their male counterparts. Women who mention "entrepreneur" on their profiles have a nearly 50% higher rate of conversations than women who don’t but men who use those terms have a 13% lower conversion rate.


While there’s no clear explanation as to why women have an upper hand here, the company does seem to have some idea. On questioning, some of the female users of the app said that entrepreneurship among men may come to mean as “not gainfully employed” or “incapable of providing financial security to women”. Besides, men also have a reputation for stretching the truth on dating apps making it hard to believe their profiles. 

Men on the other hand look at entrepreneurship as a sign of independence and ambition in women making their profiles very attractive. 

It seems that the pandemic has spurred more people to start their own businesses, either by choice or by necessity, giving the term “entrepreneur” a formidable reputation.



Jobless and Poor in South Africa 

Unemployment in South Africa, one of the biggest economies on the continent, has hit record levels.

The new data by Statistics South Africa (StatsSA) shows that about 7.8 million South Africans were out of a job in Q2 of 2021, the highest rate since 2008. The unemployment rate now stands at a record high of 34.4%, one of the highest levels in the world, according to a Bloomberg analysis.

Highlights of the reports: 

  • Unemployment rate among Black African women stood at 41%.
  • Young people aged 15-24 and 25-34 recorded the highest unemployment rates at 64.4% and 42.9% respectively.
  • Those aged 15-24 years, making up about 33% of the population (3.4 million) were not in employment, education or training during the period under review in the report.
  • Around one third of the country depends on social grants as one of their main sources of income.

Causes:

Sustained economic disruption from Covid-19, persistent inequality, and poor government policies have all been cited as contributors to the weak numbers. South Africa’s inflows of foreign investment, a key enabler in employment prospects, also declined by 39% to $3.1 billion in 2020. Adding to this is the recent wave of unrest following the arrest of former president Jacob Zuma, which culminated in the destruction of 40,000 businesses



$17 Trillion Cash Piles In U.S. Homes

U.S. households and small businesses have stockpiled record cash of almost $17 trillion. 

This is a surprising because during the past recession in the U.S. households and businesses showed a tendency to tap into their savings thus depleting their cash reserves. It’s a sign of an unusual economy in which an awful lot of people are making money or have money, but are not spending it. 

Three factors can be seen to contribute to this trend: 

  • direct government stimulus payments to individuals
  • shutdown-induced savings from Americans working from home
  • small-business decisions to hold onto grants or loans.

Most remarkably, the almost $17 trillion represents money that hasn’t been utilised in any investments in the U.S. or abroad. Which means, this spare cash could still come into equities, sending the stock market soaring even further. For most people though, the money is acting as a “barbell” allowing investors already in the market to avoid selling off by much. It’s also why the pattern of buying on the dips has worked so well.



Shorts ⏳
  • Africa joins the Space Race - African nations are building space tech to meet rising demands for internet connectivity in the post-pandemic world.
     
  • Zoom employees don't need Zoom anymore - The company is calling its employees back to office, reducing internal dependency on the app.
     
  • Shopping on TikTok - For the first time, consumers will be able to shop and retailers sell on TikTok as the app enters a partnership with Shopify
     
  • Beijing's new policy crackdown on after-school tutoring sent unemployment figures to the ceiling - job seekers in the education industry jumped 10.4% while job postings fell 49%
     
  • Madagascar famine - half a million children are now malnourished, and people are relying on insects and cactus leaves for food. 
     
  • Latin America digital payments grew big time - between April 2020 and March 2021 over 40 million people made an online payment, Brazil being the country with the most new users at 21 million. 

Stash Recommends: Tools to Explore
CapitalDigital: A digital banking solution that aims to transform a host of banking services industries through its intuitive and innovative interfaces.

AvazaA seamless, productive platform teams use to collaborate on projects, schedule resources, track time, manage expenses and invoice customers. 

Greenlight: A call centre software that makes it easy to give feedback on any website. Get rid of vague screenshots and infinite feedback loop!

neo.tax: Neo.tax uncovers expenses related to developing a new product and unlocks tax credits in minutes, filing your R&D Tax Credit and putting money in your pocket.


 
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