Day: July 5, 2022

What Does It Take To Be Wealthy in America?

This post is by Marcus Lu from Visual Capitalist

net worth milestones

What Does it Take to be Wealthy in America?

The goalposts of wealth are always shifting due to inflation and other factors.

For example, someone with a net worth of $1 million several decades ago would have been considered very wealthy. According to recent survey results, however, $1 million is only enough to feel “financially comfortable” today.

In this infographic, we’ve visualized several money milestones to give you a better idea of what it really takes to be wealthy in America.

Net Worth Milestones

This table lists the data used in the above infographic.

It covers data on what it takes to get into the top one percent for wealth in key states, along with broader survey results about what net worth thresholds must be crossed in order to be considered “comfortable financially” or even “wealthy”.

MilestoneSourceAs of DateNet Worth (USD)
What it takes to be in California’s top 1%Windfall2020$6.8M
What it takes to be in America’s top 1%Knight Frank2021$4.4M
What it takes to be in New York’s top 1%Windfall2020$4.2M
What it takes to be wealthy in AmericaCharles Schwab survey2022$2.2M
What it takes to be in the UK’s top 1%Knight Frank2021$1.8M
What it takes to be financially comfortable in AmericaCharles Schwab survey2022$774,000
What it takes to be in Mississippi’s top 1%Windfall2020$766,000
The average American’s net worth (median)Federal Reserve2019$122,000

According to Charles Schwab’s Modern (Read more...)

Progress vs. Categories

As humans we like to put things into categories. It makes communicating and thinking easier. Scratch that. It makes communicating and thinking possible. Categories go hand in hand with words as providing us with crucial compression of reality. Just like a 1:1 map is completely useless (it is the terrain itself), so would be a need to describe every detail of every person or object before being able to make a point. We would never get anywhere.

Not surprisingly then, categories are everywhere. For instance in venture we tend to put things into boxes such as “B2C” or “enterprise software.” Or in academia people study a discipline like “physics” or “chemistry.” The government classifies workers as “contractors” or “employees.” But here’s the tricky part: the world isn’t static and progress undoes categories.

The admonition to “think out of the box” when it comes to innovation is apt. Such thinking is both a source of progress and necessitated by progress. Here are just some examples. As we have deepened our understanding of what matter consists of, some of the historic boundaries between chemistry, physics and biology have stopped making sense. With computers dispatching labor we have erased many of the distinctions between contractors and employees. Self-service consumer grade software is taking over the enterprise market with product-led growth companies outperforming sales-led companies.

If you are trying to invent the new (or fund it), it helps to let go of existing boxes, instead of trying to jam innovative ideas into them. One (Read more...)

Next Gen Sports Media with Dan Porter of Overtime

This post is by MPD from @MPD - Medium

On today’s episode I chat with Dan Porter, Co-Founder and CEO of Overtime.

Overtime is the leading brand for the next generation of sports fans. Dan and his team at Overtime identified that the traditional sports media players were (and still are) heavily invested in the old infrastructure like cable deals. That left an opportunity to create an agile sports media brand that would cater to the younger generation utilizing new technology such as social platforms.

What started as an app turned into a community and has now morphed into creating and managing sports leagues. They currently operate two leagues OTE and OT7, one basketball and football.

Dan is a startup guru. He’s sold a few companies before starting Overtime and teaches entrepreneurship at NYU. If you’re interested in media, the business of sports or entrepreneurship this episode will have something for you. Enjoy.

Listen via your preferred platform here.

Show Links:

Next Gen Sports Media with Dan Porter of Overtime was originally published in @MPD on Medium, where people are continuing the conversation by highlighting and responding to this story.

How Ending Tropical Deforestation Can Keep Global Warming Below 1.5°C

The following content is sponsored by The LEAF Coalition.

How Ending Tropical Deforestation Can Keep Global Warming Below 1.5°C

How Ending Tropical Deforestation Can Keep Global Warming Below 1.5°C

In the case of global warming, a few degrees make all the difference.

The United Nations’ latest IPCC report emphasizes that the Earth is on a collision course with catastrophic climate change—that is unless, in line with the 2015 Paris Agreement, the global rise in temperatures can be limited to 1.5°C.

To achieve this however, the world will need to significantly reduce its carbon emissions. Today’s graphic from The LEAF Coalition highlights how protecting forests is essential to this process.

Tropical Deforestation: A Carbon Emissions Culprit

According to the World Economic Forum, to keep to a 1.5°C pathway by 2030, we’ll need to cut greenhouse gas emissions in half. For this trajectory to be maintained in 2050, emissions need to be completely eliminated.

However, tropical deforestation accounts for 10% of global carbon (CO₂) emissions today, which is comparable to the emissions outputs of entire countries.

 Est. Annual CO₂e Emissions
🇨🇳 China12.4 Gt/year
🇺🇸 U.S.6.0 Gt/year
🌳 Tropical tree cover loss5.3 Gt/year

In fact, combined emissions from tropical tree cover loss, including activities of deforestation, rival annual emissions from major emitters, coming in third just after China and the United States.

Protecting Forests is Key

The urgency of ending tropical deforestation to curb emissions cannot be understated. If in the previously mentioned 2030 scenario, it is assumed that emissions have already dropped steeply, deforestation today would still need (Read more...)

5 Megatrends Fueling the Rise of Data Storytelling

This post is by Nick Routley from Visual Capitalist

Do you believe that Data > Opinion?
Help us build the data storytelling ecosystem by backing the VC App.

Infographic explaining the Rise of Data Storytelling

Infographic: The Rise of Data Storytelling

Humanity is creating more data than ever before, and more of that data is publicly accessible.

While “data is the new oil” has almost become a cliché, the impact that data abundance is having on the world is undeniable. All of the world’s most valuable companies are heavily reliant on data for their continued success. Even oil giant Saudi Aramco, the world’s most valuable company, runs a 6,000 m² data center, and is partnering with Google Cloud.

In a world where nearly everything is quantified, communicating insights from that data becomes a massive opportunity. This is where data storytelling comes in. In simple terms, it’s the difference between simply making a chart, and actually explaining what it means, why it’s important, and how it fits into the broader context. This style of data-driven communication is cropping up everywhere, from newsrooms to corporate communications.

Here, we examine five megatrends fueling the rise of data storytelling.

① Information Overload

It’s estimated that between 2015 and 2025, the world will see a 16-fold increase in data.

  • The bad news: The rising tide of information is growing faster than our ability to harness it
  • The good news: This growing universe of data holds the promise of more insight, if properly utilized

Thankfully, data storytelling is an emerging field that thrives on information abundance.

(Read more...)

Reid Hoffman | Talking Politics

This post is by Greylock Partners from Greymatter

A re-broadcast of our episode with Greylock general partner Reid Hoffman and his Blitzscaling co-author Chris Yeh discussing when, how, and why CEOs should speak publicly about political or social topics. Once considered strictly off limits to business leaders, speaking out about politics and social issues has become much more common. In fact, it’s now often expected for a CEO to make a statement that communicates their company’s values and position even on the most highly-charged or controversial topics. But getting it right requires careful consideration, as Reid and Chris discuss in detail. This conversation was recorded in 2020. You can read an essay from the conversation here:

Momentum Monday – If You Have Nothing Good To Say…

This post is by Howard Lindzon from Howard Lindzon

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

I hope everyone had a wonderful 4th of July weekend.

The only good news about the market is I have nothing good to say about the markets.

What has me worried this week is the rising spread in high yield credit which we have seen before previous market meltdowns…

The question this summer is how far will the technology crash spread.

As always, Ivanhoff and I tour the market to discuss in detail what we are seeing in the form of momentum. You can watch/listen on YouTube here and subscribe on YouTube if you want an alert each time I do a video. I have also embedded it below:

Here are Ivanhoff’s thoughts:

If we judge by the most constructive charts currently, we can say that the market is pricing a potential recession at some point this year. Look at what is setting up near the 52-week highs list: consumer staples like General Mills (GIS), Dollar General (DG), Post Holdings (POST), Campbel Soup (CPB); auto parts chain Autozone (AZO); online education Stride (LRN); health insurance Humana (HUM); big pharma Merk (MRK) and Eli Lilly (LLY), etc. These are not the type of stocks that (Read more...)