#66: Resources For Ukraine, Inflation Actually ~10%, 71% Of Leaders Turn To Contractors, 33% Of Top Talent Starting A Business, Who Owns Crypto?

Resources to help Ukraine are most important. Inflation, Freelancing, and Entrepreneurship are secondary topics we'll discuss.

Most important, Ukraine 🇺🇦.

• Our hearts are with their heroic people. To be honest, we were torn about releasing the newsletter this week. We want the attention to be 100% on Ukraine, but we also recognize that to best help the people of Ukraine, we as leaders need to keep the lights on and help in ways best suited for our unique situation. Whether Elon Musk extending Starlink or you hiring on https://remoteukraine.org 👇👇

  

  What an incredible application of the future of work for good.

• Other great resources HERE.

• If you know of more, please comment or reply and we’ll make sure to post.

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For the win, from Global Changemaker Stephanie Nadi Olson, founder of We Are Rosie 🙌

🌹 Stephanie Nadi Olson @StephanieNOlson

One of our agency clients happily supported a Rosie who needed to take a month off to care for her ailing grandmother. This is the industry change we want to see!

For the loss 👎

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Important Updates:

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1. 😔 Inflation

   • While inflation is actually around 10%, quality of goods is significantly down (down 5.2%) because of supply chain issues and worker shortages.

   • Average gas prices in California reach record-high of $4.72 per gallon, experts say it’ll pass $5 per gallon within months.

2. 🤔 How is top talent reacting to our new normal?

   • Almost 33% are starting a new business.

   • I’d bet this newsletter more than 30% of these workers are starting freelance businesses (to be technical, B2B service based businesses).

3. 💻 How are top leaders reacting to our new normal?

   • 71% are turning to contingent contractors according to SIA.

   • What’s the difference between a contingent contractor and freelancer?

4. 💰 Do you own crypto? 61% of millennials with income over $100k do.

   • Pretty interesting chart from Zhu Su 👇👇👇

   • Challenge though: Crypto should be just one piece of your Human Cloud portfolio. Instead of the financial advice of working at the same company, saving 10%, then retiring at 65, the Human Cloud unlocks numerous and creative types of income streams.

     • We define these income streams as freelance opportunities, W-2 opportunities, products, and investments.

     • Skip to ‘Our Take’ 👇👇👇 to learn more or join our paid leadership portal.

       Zhu Su 🔺 @zhusu

       61% of millenials with income over $100k now own crypto 41% of all millenial parents 47% of all urban millenials

       

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🦮 Luca Pic of the Week

Guess who crushed a 2 hour flight?!?!?

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🚀 For Paid Subscribers - Our Take On Each Update 🚀

Reply to this email and we’ll answer within 48 hours.

1. Inflation most likely will only increase in the next 1-3 years (supply chain, great resignation, and labor shortage seem to be key drivers). Under this assumption, small businesses with high churn, high fixed costs, and low customer retention will disproportionately be affected.

   • Solution:

     • Prioritize employee retention, specifically scrappy, low cost/effort yet high return activities. Our episode with Lesa Edwards provides great frameworks for this.

     • Prioritize elastic talent. Start by shifting your mindset from job descriptions to project/outcome descriptions.

     • Prioritize long term contracts and subscription based offerings.