Fall Colors, negotiate a higher salary and a $12.6B mistake
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Market: On Friday, US stocks faced a downward trend, unable to sustain the previous day's gains, resulting in overall weekly losses for major indexes. The S&P 500 (^GSPC) closed 1.2% lower, while the Dow Jones Industrial Average (^DJI) experienced an 0.8% decline, equivalent to nearly 300 points. The Nasdaq Composite (^IXIC), dominated by tech stocks, led the decline with a significant 1.6% drop. These market movements coincided with China's report of an economic upturn last month, alleviating concerns about the world's second-largest economy. In addition, the United Auto Workers union initiated a historic strike at select Big Three automaker plants in the US.
Dear Settlewisers,
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Why Do Leaves Change Their Color?
As Fall arrives, the landscape transforms into a canvas of vibrant hues, inviting us on journeys to relish nature's artistry. Witness the gradual unmasking of hidden colors as chlorophyll production slows, igniting mountainsides and roadsides with breathtaking beauty.
Beyond the vibrant scenery, it's the allure of fall foliage that inspires travelers to embark on road trips or even long flights. The Upper Midwest, Michigan's Upper Peninsula, and the Blue Ridge Parkway offer stunning views. Colorado dazzles with golden aspens. Don't overlook the vibrant hues of the Ozark Mountains in Arkansas. It's not solely about the “pumpkin-spiced” everything either. The irresistible draw lies in the crisp, invigorating air that makes autumn one of the healthiest seasons for outdoor activities like hiking and biking. It's in the rich sensory experiences—the sounds, scents, and flavors of the harvest season.
You don't need to empty your wallet for this. Within just a short drive, you'll uncover charming destinations to explore. Consider packing a meal and planning a weekend picnic in a picturesque spot.
Timing your visit for peak foliage is key, and it's important to remember that elevation and latitude can influence the timing. For accurate predictions on when the foliage will be at its best, please refer to the website below. It's a hidden gem that can help you pinpoint the ideal weekend for your chosen destination. This website also offers more interesting details to read, such as "Why Do Autumn Leaves Change Their Color?"
2023 Fall Foliage Prediction Map
#SettleWiseStance – As you embark on these fall adventures, savor not just the leaves but the entire journey, creating cherished memories along the way. Explore flexibly with driving trips, motorcoaches, or even unconventional options like hikes, and ziplines. Layer clothing for unpredictable weather, and pack essentials including maps, snacks, umbrella/Raincoats and a trusty camera. Visiting destinations renowned for their fall foliage means embracing that part of yourself that understands the importance of seizing these precious days before winter's chill steals away the fun.
Wiser Craving
Multiple subscribers reached out expressing their interest of learning few specific topics. If you want to read about any specific topic, Please let me know in the comments or email to author.settlewise@gmail.com
#WiserCraving Topic of this edition is how to negotiate a higher salary.
Websites can help you negotiate a higher salary
These sites can help you become aware of salary ranges and negotiate a higher salary. The sites are not in any order.
LevelsFYI offers comprehensive compensation data for various job levels, locations, and companies. It also highlights unique benefits, assigning them a monetary value, such as health insurance.
Compare salaries and benefits with others in your industry, and as a bonus, they do "Best Company For…" awards for categories like Diversity, Leadership, Women, and more.
With over 8,500 reported salaries, Elpha caters to women in tech. It's also a supportive community where women discuss salaries, career advice, and more.
RepVue scores companies on a scale of 0-100 using peer feedback. Discover which companies meet their targets. If you are on sales side, explore sales representatives' earnings ranging from $60K to over $1M per year.
Formerly known as AngelList, Wellfound allows you to freely search for average salaries based on role, location, skills, and market trends using their salary calculator. A great resource to tap into the startup job market's potential.
Fishbowl provides salary 'bowls' for discussions on compensation, negotiation, and raises in various industries and roles.
Salary.com offers salary data, personalized salary reports, and a cost of living calculator to help you make informed decisions.
Glassdoor, known for salary insights, offers valuable information and a salary estimator tool, though the quality of written reviews may be debated.
Payscale provides salary tools tailored to your specific criteria like location, experience, and job responsibilities, helping you determine your ideal earning potential.
#SettleWiseStance – It's always good to have multiple data points from multiple sources. That way, you get a more accurate picture of a comp range for a role. Being informed about your job's salary range is a powerful tool for negotiating in your career. Whether it's for a new job or asking for a raise, knowing your worth is key. The worst outcome might be a "no," but on the flip side, it's about securing your financial growth. It's all about the money!
In the 1980s, this one mistake cost AT&T $12.6B... And you've probably done it too.
Back in the 1980s, AT&T made a colossal $12.6 billion mistake, one that many of us unknowingly make. It's all about "assumed constraints."
Think about elephants. When you see them at a safari or zoo, they're often held in place by a simple chain attached to a peg in the ground. Seems flimsy, right? But here's the kicker: when these massive creatures were babies, that same chain held them in place. As they grew, they remembered the pain of the chain cutting into their skin and assumed they couldn't break free. These are "assumed constraints," irrational beliefs that limit us.
Now, let's relate this to few real time examples:
1. McKinsey-AT&T: In the 80s, McKinsey underestimated cellphones, suggesting AT&T avoid them. By 2000, there were 100 million users, and AT&T had to spend $12.6 billion to catch up.
2. Uber: A valuation expert in 2014 thought Uber was worth $5.9 billion max. Today, it's valued around $95 billion. The expert assumed Uber's market was just taxis, not the global disruptor it became.
3. Computers: IBM's president in 1943 believed the world needed only five computers. Bill Gates later thought 640Kb of memory was plenty for everyone. Now, our devices are thousands of times more powerful.
4. Elon Musk: Elon Musk, the CEO of SpaceX and Tesla, is known for challenging assumed constraints in the aerospace and automotive industries. He was told that reusable rockets were impossible, but SpaceX successfully landed and reused rocket boosters. Musk also disrupted the automotive industry with electric cars when many believed gasoline-powered cars were the only option.
5. ISRO (Indian Space Research Organisation): ISRO challenged the global assumption that space exploration was the domain of wealthy nations. With limited resources, ISRO successfully launched missions to Mars and the moon, such as Mangalyaan and Chandrayaan-3, demonstrating India's capabilities in space technology.
So, how can you liberate yourself from the clutches of assumed constraints?
When faced with a challenge, begin by cataloging all your initial assumptions. Take each one and subject it to rigorous scrutiny:
Ask yourself, "Who or what is imposing this belief on me?"
Seek ways to verify the validity of each assumption.
Envision how the situation would transform if the assumption ceased to hold true.
By doing so, you'll expand your perspective exponentially. Embrace a mindset of relentless inquiry. Deconstruct problems into their fundamental components to ensure no detail escapes your attention. This approach empowers you to break free from the confines of convention and explore innovative solutions.
#SettleWiseStance – Don't let assumed constraints limit your potential. Challenge every belief, question the norm, and think beyond boundaries. In this mindset lies the key to innovation and success. Embrace the freedom to explore, for it's by breaking free from assumptions that we unlock new horizons of achievement. Dare to dream, dare to defy, and you'll achieve greatness.
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