$200k remote fintech jobs, the real tech party & the $139 Billion Secret

Author

Candle Team
June 04, 2024

📰 In this issue

🔹 Insider: Exclusive for our community

🔹 Opportunity: Edge-ucation 101: Where the Real Tech Party Is (Sorry AI)

🔹 Trends: The Power of Referrals in a Broken Hiring System

🔹 Tools: Warren Buffett's $139 Billion Secret:

🔹 Sparks: $200k remote fintech jobs, rule-shattering GPT-4o, unskippable ads

🗃Insider

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🚀 Opportunity

Edge-ucation 101: Where the Real Tech Party Is (Sorry AI)

AI may be the golden child getting all the attention, but I’m pleased to announce that there are other opportunities in tech. IKR?

Let’s start with some big ass numbers. By 2030, McKinsey estimates that it could enable $5.5 trillion to $12.6 trillion in value globally, including the value captured by consumers and customers of IoT products and services. That’s a 129% growth in 5 years. There is a ton of activity in and around edge computing and the Internet of Things (IoT), which may even be creating more technology opportunities than AI currently is, if you buy off on that.

Among 1,037 IT executives and professionals surveyed by the Eclipse Foundation, control logic, also referred to as embedded automation, was cited as the most prevalent edge computing workload by 40% of respondents, narrowly surpassing AI, which was identified by 37% of those surveyed.

The Eclipse Foundation was created in January 2004 as an independent not-for-profit corporation to act as the steward of the Eclipse community. The independent not-for-profit corporation was created to allow a vendor-neutral, open, and transparent community to be established around Eclipse by over 360 members globally, the Eclipse Foundation has an established international reach and reputation.

Key points:

  • IoT development is increasing across sectors like industrial automation, agriculture, building automation, etc.

  • Java is the top language for IoT gateways/edge nodes, while C/C++/Java are most used for constrained devices.

  • Key skills needed include understanding decentralized architectures, real-time data processing, IoT integration, network security, and data analytics at the edge.

  • AI/ML are being applied for more intelligent, autonomous edge systems that can make real-time decisions where data is collected.

  • Managing large data volumes, enhanced security, data governance, and real-time analytics are critical for edge/IoT.

  • A shift in mindset is required to prioritize agility and decentralized decision-making at the edge.

The takeaway here is that edge compute capabilities could become a key competitive advantage as data at the edge grows exponentially, necessitating a shift from centralized to decentralized, edge processing.

🔥 Why You Should Care - Growing an industry by $7Trillion in 5 years - BIG!
 
🔑 Key Point - May be creating more technology opportunities than AI

📎 Related Resource

The Power of Referrals in a Broken Hiring System

The harsh reality is that online job applications have become a black hole, with hundreds, if not thousands, of résumés disappearing into the abyss for every open position. In fact, one tech recruiter received a staggering 983 applications for a single job posting, and the person who got hired wasn't even among them!

Simply put, the rise of AI tools like ChatGPT has made it easier than ever for applicants to flood job portals with automated, cookie-cutter applications. The recruiters have seen it a trillion times and are burned out on the same type AI mods.

Let’s get down to what works today. Referrals are your golden ticket, your cheat code, your secret handshake to bypass the automated gatekeepers. Data shows that referred candidates have a 50% chance of making it past the initial résumé review, compared to a crappy 12% for those who go in cold. Bottom line – even though referrals make up just 5% of the applicant pool, they account for 30% of actual hires!

So, how do you get in on this referral action? Simple: start building your network like it's a side hustle. Reach out to former bosses, colleagues, and even that quirky intern you kind of liked. Grab a coffee (or a beer, we won't judge), and pick their brains. Show a genuine interest in their lives, and when the time is right, casually mention that you're on the lookout for new opportunities or come right and say want another beer?

So now the question of the day "Does relying on referrals undermine diversity efforts?" Maybe and it’s a fair point, but here’s the reality. The goal was for online applications to democratize hiring and reduce biases, but the sheer volume of applications has forced employers to revert to the tried-and-true referral method.

To combat this, some companies have started offering bigger cash rewards for employee referrals, while others have launched new referral bonus programs. Fancy software can also identify referred candidates first, giving them a leg up over the competition.

Look, the referral system isn't perfect, but in a world where AI bots are gunning for your job, it's a lifeline you can't afford to ignore. When push comes to shove, relationships are the real currency in this game. Sure, you might be good at your job, but if you're not well-connected, you're just a cog in the machine.

So, embrace the referral game, build those connections, and maybe, just maybe, you'll land the gig while the ATS systems are still screening the other 6,759 applications. After all, a little nepotism never hurt anyone, right? (Just kidding, HR! We love you!)

🔥 Why You Should Care - AI can’t replace human interaction - bots are no referral
 
🔑 Key Point - sheer volume of applications has forced employers to revert to the tried-and-true referral method

📎 Related Resource

🚀 Tools

Warren Buffett's $139 Billion Secret: Communication is Key

You may not agree with Warren Buffett when he draws comparisons between AI and nukes or that bitcoin is a valueless, non-productive asset without intrinsic value, but it’s kinda hard to argue with a guy that’s made $139 billion.

His take on job roles - find the job that you would like to have if you don't need a job. Like, if you won the lotto, what would make you want to get you up at 5:00 am, to hop the freeway for a dose of heavy traffic? It can be easier said than done.

But seriously, his take on what might be the most important aspect in reaching your goals? Communication skills.

You can take classes or join what is probably the best organization on the planet to develop communication excellence,Toastmasters International. They are a supportive community that helps members prepare and deliver speeches, respond to impromptu questions, and give and receive constructive feedback. We highly recommend Toastmasters!

Understanding how to communicate can help you land a job or a promotion, experts say — and "communication" was ranked No. 1 on LinkedIn's Most In-Demand Skills list in February. A 2022 report published by job search website Joblist found that a quarter of participants with outgoing personalities had received promotions over the previous year — higher than any other personality group in the survey.

After graduating from Columbia Business School, Buffett said, he saw an ad for $100 for a public speaking course, and figured that paying so much money — in cash — would keep him accountable and force him to get over his fear. The impact that the class had on my life was huge."

It "gave me the most important degree I have," he said, adding: "It's certainly had the biggest impact in terms of my subsequent success."

🔥 Why You Should Care - Communications skills are the key to advancement
 
🔑 Key Point - “…Had the biggest impact in terms of my subsequent success.”

📎 Related Resource

🚀 Sparks

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