Healthcare Workers Turn Entrepreneurs, Instagrammers 💉

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Healthcare Workers Turning Chic Entrepreneurs

The pandemic has been especially hard on healthcare workers. 

While many people enjoyed the perks of WFH, health security and personal space, those in healthcare industry were facing a live nightmare. This could be why many such workers are now turning towards entrepreneurship. 

Take the case of this medical worker from North Carolina. 

Before the pandemic, Shay Love worked as a certified surgical technologist in the operating room at Duke Hospital. Throughout 2020, she was picking up shifts and working overtime. During the 2020-2021 school year, she had to send her daughter to live with family in Maryland. Since Love worked so often, she could not be home to help with virtual learning, plus risking her daughter’s live with Covid was just not an option. 

"When the end of the year comes around and you've made $12,000 in overtime alone, that shows you how much time you spend away from your family. That’s when you know something needs to change,” Love said.

Now, Love is an entrepreneur working on her own time. She launched Shay Love's Lashes in December 2020 and left Duke Hospital in early 2021. 

Her daughter says she can already feel the difference.

Like Love, Amanda Biond spent most of the pandemic trapped in a PPE in the ICU at a Bay Area Hospital. That’s when the idea came to her. She decided to start a pop-up picnic company to provide rest and delicious food to those stuck in quarantine. She named her company Insta Picnic & Co. They have now advanced from just picnics to micro-weddings, birthdays, backyard movie nights, proposals, and more. 

Picnic scenes from Insta Picnic & Co. 

Similarly, David Redd wanted to spend more time taking care of his patients and less time on bureaucratic paperwork from insurance companies. He decided to become a first-time entrepreneur in his 60s. David started his own retail surgery startup, QuikSurg in Chattanooga, TN. 

These are just a few examples of the many healthcare workers finding themselves battered and frustrated by the pandemic. As of May 2021, over 115,000 healthcare workers have died of Covid, according to WHO. With the pandemic seeming like a never-ending affair, the misery of healthcare workers also seems non-stop.

Extra Unemployment: Courtesy Delta

US employers added just 235,000 jobs last month, compared to the 720,000 expected. Hiring was expected to fall from the record 1.1 million jobs in July, but nowhere near this much. It was the smallest employment gain in seven months.

The hospitality industry that was averaging 350,000 new jobs a month over the past six months, adding no new jobs in August. Meanwhile, restaurants lost 42,000 jobs, and retailers lost 29,000.

Looks like all our fears of Delta crashing the labor market’s recovery party came true. 

The only industries that weren’t as affected by Delta as the others were services, manufacturing and transportation.

This is clearly an impediment in the Feds plans to wind down its pandemic-era stimulus measures. Meanwhile the Biden administration can use these numbers to show that the economy still needs more support from the government, thus pushing its $3.5 trillion social package. 

Beware! Taxes Are Coming

The Democrats may release new taxes next week to fund the $3.5 trillion social policy bill. 

The Democrats’ social policy goals are ambitious: paid family and medical leave, expanding Medicare to include dental, vision and hearing benefits, extending the enhanced child tax credit as well as provisions to address climate change.

But the budget blueprint promises no new taxes on families making less than $400,000 per year, small business and family farms. This has left wealthy taxpayers scrambling to do proactive tax planning.

While we don’t know for sure what the new taxes will be, here’s a laundry list at what could be coming.

  • Individual income tax hike: The top individual income tax rate could jump from 37% to 39.6% for those making more than $400,000 a year.
  • Capital gains tax hike: The tax rate could double from 20% to 39.6% on long-term capital gains and qualified dividends. 
  • Deductions cap: Taxpayers could face a new cap on deductions including charitable contributions as well as IRA/401(k) contributions. 
  • Capital gains tax at death: Under the current law, you don’t pay capital gains tax on assets inherited after a family member’s death. The new proposal aims to make such assets taxable at death. 
  • Return of the Gift & Estate Tax: Trump’s 2017 tax cuts temporarily doubled the estate tax exemption $11.7 million per individual, leaving fewer than 2,000 estates a year facing federal estate taxes. The Democrats are expected to revert this to $5 million, meaning a return of gift and estate taxes for many more families.

Shorts ⏳
  • Musk vs. Bezos - The two billionaire space fiends are on a war footing. After NASA ended its contract with SpaceX, Elon Musk blamed it on Jeff Bezos by accusing him of hiring lobbyists to meddle in the issue. 
  • Peloton under investigation - With great success come grave problems. Peloton is under investigation by the Department of Homeland Security for injuries caused by its treadmill
  • Amazon's hiring hurricane - The company plans to hire 55,000 employees globally in the coming months - that's over 1/3rd of Google's employee count and almost 100% Facebook's. 
  • Good news for app developers - South Korea become the first country to pass a legislation allowing app developers to by-pass Goggle and Apple's hefty (almost 30%) commission on in-app purchases.
  • Singapore's wealth boom - Despite pandemic uncertainties, the benchmark Index rose 26% since last year and the combined wealth of the country’s 50 richest people swelled to $208 billion from $167 billion.
  • Hurricane Ida - A Fox reporter covering the hurricane in New Orleans was blown away on camera while broadcasting from a Louisiana parking garage. #NotAJoke
  • Now for some funny news - A Chicago couple sent $240 invoices to guests who RSVP'd but didn't show up at their wedding, asking the guests to pay up for the losses. Pandemic times are bad. 

Stash Recommends: Tools to Explore
Project Insight: A work and project management software that centralizes all of your work, tasks, and projects into one easy to use online platform.

HyggerA project management software that enables your teams to collaborate, plan, analyze and manage everyday tasks through real time tracking. 

Snowhouse StudioSnowhouse creates the best possible digital experience for your brand at a flat monthly rate subscription with the option to cancel anytime.

Round Pegs: Round Pegs offers a range of low-code & no-code platforms that allows you to get your product within days. Their main stack includes Bubble, Adalo and Webflow. 

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