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It’s Time to Shorten the Workweek

The U.S. government began tracking workers’ hours in 1890. At that time, the average full-time manufacturer employee put in a staggering 100 hours a week!

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For many people today, especially those who have salaried positions or are in management, the 40-hour workweek is an elusive myth. Unpaid overtime is common, and today’s technology gives employers easy access to employees at all hours. This blurs the line between work and home life.

This is being played out now with many white collar jobs forced to work from home due to Covid-19. Between worker furloughs and layoffs, those still employed are shouldering the load to keep businesses functioning. And many jobs that continue to be eliminated due to this historic economic crash are unlikely to return .

How we got to the 5-day, 40-hour workweek

It was a long fight and drawn-out fight that got us to where we are today. In 1866, the new National Labor Union was the first to push Congress to pass a law mandating the eight-hour workday. Although it failed and the union dissolved, other groups picked up the banner.

In 1867, Illinois passed it into law, but employers refused to follow it. This led to a huge strike in Chicago that became known as “May Day.” On each May Day thereafter, more strikes and demonstrations took place in support of the shortened workweek.

Two years later, President Ulysses S. Grant issued a proclamation that included instituting an eight-hour workday for government workers. Private-sector workers, especially manufacturing employees who put in long hours, began pushing their employers to adopt it.

Employers, workers and government tussled over the issue for decades and pressure slowly mounted. A 44-hour workweek act was passed in 1938. Then, in October 1940, the Fair Labor Standards Act went into effect mandating 40 hours as the standard workweek.

Four-day workweek vs. decrease in hours

The Covid-19 crisis has many Americans questioning the country’s obsessive work culture—and they want change. According to The Harris Poll, four out of every five workers support switching to a four-day workweek. However, you’d still be working 40 hours.

It sounds good when there are enough jobs to support it—but what if there isn’t? A better step, which will be needed in the coming years, is to decrease what a full-time, standard job means.

Automation and AI will eliminate the need for many jobs

The biggest question the government will face in the coming decades is a permanent reduction in human workforce need. The Brookings Institute released a 2019 study citing that more 109 million jobs are at risk for high or medium exposure to automation by 2030.

This doesn’t mean all of the impacted jobs will cease to exist. However, as more and more automation is brought on, the logical conclusion is less human labor will be needed.

It’s also important to note this study was done prior to the current economic crash. Thanks to Covid-19, which has gutted huge swaths of the economy, automation will likely come much faster than companies, and certainly the Federal Government, has planned.

It took well over a century to get to today’s standard 5-day, 40-hour workweek. We won’t have that luxury this time around. Technology will replace many repetitive and mundane job functions, and then move onto the jobs themselves. The U.S. will need to shift to less hours per worker to keep everyone employed and money moving throughout the economy.

Business efficiency and progress won’t be stopped. And why would we? If we can create a new work culture that is healthier and more balanced, while getting everyone back to work, it’s time to get moving.

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Business

What Are Non-Fungible Tokens (NFTs)

Ever heard of Bitcoin, Ethereum, and the various altcoins? There’s a new cryptocurrency type on the block and it’s called a Non-Fungible Token or NFT for short.

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What Are Non-fungible Tokens

Ever heard of Bitcoin, Ethereum, Litecoin, and the thousands of altcoins that make up the cryptocurrency world? Well, there’s a new kid on the block and it’s called NFT or short for Non-Fungible Tokens. If you’ve been following the cryptocurrency space in the last few months you know what I’m talking about. For the uninitiated, get ready to be rocked.

What Is a Non-Fungible Token (NFT)? 

Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.

Source: https://www.investopedia.com/non-fungible-tokens-nft-5115211

How Are NFTs Used?

The distinct construction of each NFT has the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets.

In fact, in the last several months there have been several large art sales happening with the most expensive (at the time of this post) being the Beeple sale of $69 million. Yes, you read that right. As crazy as that might sound, the NFT marketplace is booming with some crazy digital art sales.  Here are 11 of the highest NFT sales.

As NFTs gain in popularity, so are the amount of NFT marketplaces growing in numbers. According to the guys at Influencer Marketing Hub, these are the top 10 Marketplaces for buying and selling non-Fungible Tokens (NFTs):

NFTs in a Nutshell

What you need to know about NFTs

Source: https://www.investopedia.com/non-fungible-tokens-nft-5115211

If you’re an artist or a digital media creator it wouldn’t hurt to try your hand at selling some of your artwork on one of the many NFT marketplaces. Who knows, maybe it just might be a life-changing experience with life-changing rewards.

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Business

Using Fiverr to Generate Over $300k

There are a growing number of people using Fiverr to generate over $300k per year doing what they love almost anywhere in the world. Learn How.

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Making $300k per year with Fiverr

Nowadays there is no shortage of ways to make money at home with the skills you already have or new skills you can acquire in a short amount of time. One of the biggest platforms fueling the freelance economy is Fiverr. In fact, there are a growing number of people using Fiverr to generate over $300k per year doing what they love almost anywhere in the world.

So what exactly is this Fiverr we speak of? Fiverr is one of the world’s largest marketplaces where freelancers can provide digital services to consumers and businesses alike. The price of services freelancers provide varies from $5 to $10,000 with the ability to upsell faster turnaround time and better quality services. At any given point, their databases contain millions of gigs freelancers can secure to earn as much income as they can handle. 

Alex Fasulo $300 Fiverr Freelancer

The guys over at The Iced Coffee Hour interviewed Alex Fasulo , a Fiverr freelancer making over $300k per year off Fiverr gigs. Check out the interview above.

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Business

Feds Give $25,000 Down Payment on Your First House

Biden administration proposes a $25,000 down payment assistance grant for first-time home buyers.

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Feds give $25k to first home buyers

2021 has been an interesting year so far for the real estate market. Clearly, it’s a seller’s market as property prices continue to skyrocket across the nation as inventory become scarce and droves of people migrate from densely populated cities in the North East and West Coast to Southern and Mid-West regions. The Feds are also noticing this shift and are proposing a $25,000 grant for first-time homebuyers to use as a down payment.

Say what you will, but I think that’s pretty awesome and will be a major help for some people that’s always wanted to own their own house for quite some time but never had the money to put a 10-20% down payment. Let’s learn more about how this Federal grant/credit would work.

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