| | | | Welcome to your October 8 newsletter! A British expat recently criticized China's intense '966' work culture after being laid off, sparking discussions about extreme work environments. '966' refers to working from 9 a.m. to 9 p.m., six days a week, a practice common in China's tech sector. Meanwhile, a JP Morgan executive has also voiced concerns, rejecting Wall Street's toxic work culture, where long hours and high pressure are often the norm. | | | |
 | | | In the Fast Lane of Business... > Jack Forsdike, a 28-year-old British expat, experienced the demanding "996" work culture while working at a tech company in China, which involves 12-hour days, six days a week. Initially excited about the challenge, Forsdike soon became overwhelmed by the intense schedule, which affected his health and personal life. After enduring months of grueling work, he was laid off in May 2024, feeling both devastated and relieved. Now, Forsdike is calling for the tech industry to reconsider the 996 culture, arguing it leads to burnout and decreased productivity in the long run. > Kristin Lemkau, CEO of JPMorgan Wealth Management, rejects Wall Street's "work until you drop" culture, emphasizing the importance of sleep and balance in leadership. After realizing that lack of sleep led to poor decisions, she committed to healthier habits, aiming for seven to eight hours of sleep each night and avoiding caffeine after lunch. Lemkau encourages JPMorgan employees to prioritize self-care, sharing her own experiences balancing work, family, and wellness. She believes that being well-rested and leading a full life makes for better leadership and job performance. > Samsung Electronics expects a weaker-than-anticipated profit for the third quarter, projecting an operating profit of 9.10 trillion won, which is a 274% increase from last year but below analyst expectations. The company attributes the decline in its memory business performance to inventory adjustments and increased supply of legacy products from Chinese competitors. Samsung also faced delays in shipping high-bandwidth memory (HBM3E) chips, further impacting its results. Additionally, Samsung has instructed staff reductions in some divisions as its stock has dropped 22% year-to-date. | | | |
| | Unique Business Idea For You A professional who has been deep cleaning restaurant floors for five years shares insight into this niche business. Restaurant floors accumulate grease and require regular deep cleaning for safety, appearance, and to eliminate bad odors. The cleaner typically charges $0.60 per square foot, earning at least $100 per hour, with minimal overhead costs. They emphasize that there's a lot of opportunity in this overlooked industry, offering a lucrative living for those willing to put in the hard work. | | | |
 | | | Side Hustle You'd Be Crazy Not to Try Dr. Leila Powell transitioned from astrophysics to cybersecurity in 2015, seeking a career with more direct impact on people's daily lives and better pay. Now the lead security data scientist at Panaseer, she hires team members based on their skills rather than specific backgrounds, encouraging career changers to explore cybersecurity. The industry, facing a shortage of professionals, values analytical, communication, and problem-solving skills, which are often transferable from non-IT roles. People like Calum Baird and Rebecca Taylor successfully transitioned from policing and humanities, respectively, demonstrating that cybersecurity is about much more than technical expertise. | | | | Personal Finance News > Monique Geter, a Gen Z content creator, regularly tracks deals at stores like CVS, Walgreens, Harris Teeter, and Food Lion for her online followers. Using platforms like Instagram and Facebook, she shares tips on couponing and how to get the lowest prices at popular discount retailers. Geter, along with other influencers, is part of a growing online couponing community that helps shoppers save money through digital platforms, as traditional coupon clipping has transitioned online. Influencers like Geter post curated deals and advice, while retailers like Dollar General and Walgreens cater to couponers with mobile apps showcasing daily promotions. > A New Jersey court ruled that a couple, John and Georgia McGinty, who were injured in an Uber accident, cannot sue the company due to an arbitration agreement they accepted when using Uber Eats. The McGintys argued that their daughter had accidentally agreed to the terms, but the court found the agreement valid and enforceable. Despite the McGintys' claims of severe injuries, the court upheld that disputes must be resolved through arbitration. The couple expressed disappointment, feeling that Uber used hidden terms in service agreements to avoid legal accountability. > Experts agree that picking up the phone is often the best way to resolve issues with colleagues, as demonstrated by U.S. Transportation Secretary Pete Buttigieg's call to Elon Musk regarding Hurricane Helene relief. Phone conversations help prevent misunderstandings that can occur through digital communication, making it easier to convey emotions and intent. Career coaches suggest that phone calls allow for clearer, more personal discussions, building better relationships in the long run. However, experts caution that in emotionally charged situations, starting with written communication or using empathetic language can help avoid conflict. | | | |
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