Hey <<First Name>>
This week in the aftermath of the US Presidential debates I was struck by a realization - the global political narrative is moving away from globalization and moving towards nationalism.
Along this line of thinking, I set out to understand why this change is taking place and what the consequences to global businesses and individuals will be.
Why Globalism is Dying and Giving Way to Nationalism -
Over the past decade, there were several critical economic events that resulted in a change to the global political narrative.
These events created an environment where policies of domestic protectionism and nationalism thrive on a global scale.
- 2008 Great Financial Crisis,
- the Euro Zone Crisis,
- Trump's Election, and
The rise of nationalism across "the West", combined with historically aggressive China and Russia make it exceedingly unlikely that we see further global integration. At least anytime soon.
In short: nationalism is on the rise and globalism is dying.
This article explores why these events are leading to the end of globalism.
8 Interesting Ideas that Will Influence the Digital Future -
In this article, I explore ideas that I believe will play a big role in shaping the future. These ideas range from cognitive biases to theories on how the world works.
As an example, by studying the concepts of foundational and keystone species, we can see how technologies like VR and AR might evolve to create technology ecosystems. AR & VR are seen as critical to the evolution of the world's digital interaction and will be elements of the next phase of the internet known as the Metaverse.
In this article, I reference the Metaverse which is a frontier tech topic I plan to explore through this newsletter. It represents a critical shift in how people will interact online and a concept that I believe is important to follow.
For now, I'll leave you with a definition:
"The word 'metaverse' is a portmanteau of the prefix 'meta' (meaning beyond) and 'universe'; the term is typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe."
A Roundup From Around the Web
Google Asks Workers Who Went Abroad For Covid to Return Home - Google was one of the first companies to permit employees to work remotely. Recently, they asked workers that moved abroad to return home.
Their reasoning is unclear but potentially includes increased productivity of in-person work, as well as the tax and legal implications of a global workforce.
Other large companies, such as the bank JP Morgan have been vocal critics of the Work From Home/ Remote Work model saying, "The bank has noticed the productivity decline among “employees in general, not just younger employees,” JPMorgan spokesman Michael Fusco.
But productivity may be irrelevant as the second wave of COVID-19 threatens and schools remain remote. Most businesses still seem to favor remote work when possible. This policy decision will more than likely hold at least through winter into early next year. But Google's shift is worth following as it marks a change in this trend.
What the Myth of Faust Can Teach Us - A Faustian Bargain or "making a deal with the devil", is when a person makes a compromise between sacrificing their morals or standards for something that they desire. It's agreeing to a short term gain regardless of the long-term consequences.
This article provides a history of the term and historical examples throughout pop culture.
I like this article because its a reminder that in life, we are constantly faced with Faustian bargains. Decisions that often pit our moral compass against our wants and needs. In many situations, we are forced to find a compromise that leaves us conflicted.
“what good will it be for a man if he gains the whole world, yet forfeits his soul?”
Gemini crypto exchange adds shielded withdrawals for privacy coin Zcash - The crypto-asset exchange founded by the Winklevoss twins is allowing users to withdraw funds using the built-in privacy features of Zcash. Mainly, it allows the user "to encrypt and hide transaction data like sender, receiver, as well as the amount sent."
This is a great development that supports both pseudo and total anonymity online. It's a little surprising that no regulatory issues have been raised at this point.
How Not to Die - Paul Graham is one of my favorite writers. A Silicon Valley veteran that writes frequently long but very well written stories and philosophies on startups. I particularly enjoyed this essay covering his thoughts on startups and how they live and die.
"So I'll tell you now: bad shit is coming. It always is in a startup. The odds of getting from launch to liquidity without some kind of disaster happening are one in a thousand. So don't get demoralized. When the disaster strikes, just say to yourself, ok, this was what Paul was talking about. What did he say to do? Oh, yeah. Don't give up."
See you next week.