Welcome back, folks to The Itinerant on mirror.xyz!

Here’s your weekly dose of what I’ve been exploring and contemplating.

TL; DR

Why you should start developing a side-hustle yesterday;  how you should navigate the recession whether as the CFO of your company or of your family; Google Ventures turns off its algorithm for picking startups; why you should check out Saudi Arabia as a travel destination; what I’m looking for at the intersection of Artificial Intelligence and Healthcare; Intel’s latest advances in Quantum  and neuromorphic computing; physicists are reconsidering whether time really flows; why ‘extreme’ sports become normal – and how the lessons apply to our regular lives; and lessons from a successful businessman about how business is a privilege.

Stay curious this week.

Let’s go!

~Ben

As always, please give me feedback. Which area this week was your favorite? Which did you like the least? What do you want more or less of in general? Please let me know.

Email me, leave a comment, tweet / cast / or clout @BenErsing and put #TheItinerant at the end so I can find it.

Business Insider [Article] – Businesses Should Worry About Side Hustles Not Quiet Quitting

• “Gen Z has more avenues than ever to make money with side hustles…Young people can get paid better elsewhere, so they're "never applying in the first place….Companies are going to have a tough time getting people in for under $100K when there's so many options for these kids to make money on the internet” - GaryVee

• In a March survey of 1,000 teenagers, about 60% of respondents said they were more interested in starting their own business than working a traditional job….And the US's independent workforce has risen 34% since 2020”

• GaryVee has arguably the best pulse on Gen Z of anyone, however his perspective here extends to everyone and anyone that dedicates the time and energy to learn how to leverage the new internet.

• There are so many opportunities for people willing to put in the work and be diligent; and it is only going to increase in the coming years.

• We are living through a structural shift in the way careers and work are done, and it is only going to change faster as web3 evolves, and adoption deepens.

Chief Executive [Article] – Uncovering Opportunity In A Recession

• “you can survive economic crisis and emerge stronger…CFOs that prepare thoughtfully for what’s coming will be positioned to capitalize on opportunities for growth and scale, even as they brace themselves for potential challenge”

• This article has some excellent advice for anyone helping to steer a company through the current macroeconomic climate.

• It’s also equally applicable to our home lives: if you prepare thoughtfully for what is to come (and it’s not too late to prepare, because it’s going to get worse IMHO), cut down on expenses, and live frugally, there will be life-changing opportunities to invest in and acquire assets at steep discounts.

Axios [Article] – Google Ventures shelves its algorithm

• Algorithmically driven sourcing and investment allocation within Venture Capital, Private Equity and Real Estate is something I have been interested in for a number of years and have spent a fair amount of time digging into.

• The potential is there, but the main theme I’ve seen is that the nuances of what determines a ‘winner’ vs a ‘loser’ are too complex and multifaceted to be predicted accurately by an algorithm over the long term, at scale. So while it is an interesting prospect and potential tool to aid in the sourcing and diligence process, it is unlikely to ‘automate’ and displace alternative asset investment professionals such as myself.

• So I was naturally intrigued when I saw this article indicating that Google Ventures will be relying less on its algorithm in its investment decision-making process.

TravelIndustryWire [Article] – Saudi Arabia is the Fastest Growing Tourism Destination in the G20

• It has now been 5+ years since I spent time working in Riyadh, Saudi Arabia, but the country’s rapid growth and the genuine, incredibly bright young people I met there, left an impression.

• Such a strong impression, that I have been looking for a way to get back there before it has completely developed into the next Dubai. I’ve also been poking around for opportunities to deploy capital there.

• The TL; DR -> it’s still a challenging place to invest unless you can afford to be there in person a few times a year. Maybe someday that’ll be possible for me, but not right now.

• So it’s not surprising when I see that Saudi Arabia has recorded >121% growth in international tourism over pre-pandemic levels.

• If you have any interest in visiting the Middle East, I would strongly recommend you put Riyadh on your list, as it is one of the last places just beginning to be touched by modernization.

Forbes [Article] – AI In Healthcare Still Has A Long Journey Ahead

• As long-time readers are well aware, The Itinerant is intentionally multi-sectoral focused because I believe the best, most transformational opportunities emerge at the intersection of multiple industries, often from converging trends. The only way to be able to spot them, is by being well read across a range of topics.

• The impact of AI within healthcare is without a doubt transformational, but it still has a very long way to go before it is really transformative at scale.

• This article highlights a few of the challenges, and underscores some of the areas I am actively looking at:

                                 I.            Anything that cleans and structures unstructured data

                               II.            Programs that test training data sets for bias

The Quantum Insider [Article] – Intel Shows Off Advances In Quantum, AI and Neuromorphic Computing

• Last week, Intel shared details about its latest strategic initiatives related to Quantum Computing and Neuromorphic computing. We’re still years away from seeing these solutions available at scale and at a relatively reasonable price-point, but it’s important to be tracking them closely given the massive disruptive potential.

• Here’s an overview of a few key points:

  • The Beta version of Intel Quantum SDK is live. It is designed to help developers learn to program quantum algorithms. Intel expects to have quantum resistant cryptography by 2030. This means they expect quantum to reach scale and broad-enough adoption by then to require security features that can protect against being hacked.

  • All this is being developed in the cloud, in an open-ecosystem approach, catering to ‘Quantum-as-a-Service’ and / or ‘Neuromorphic Computing-as-a-Service’ in the future.

• More and more companies are opening-up the latest cutting-edge technologies to developers in an easy-to-use manner. It has already had a monumental impact on the business landscape, and will continue to do so.

• As we think about the future of work, markets, investing, and our ‘entrepreneurial careers’, trends like this are vital to stay on top of.

• If we project-out 10 years this type of technological development and adoption, it is easy to see how the nature and type of work will radically change for the majority of us.

• This is not new news, nor is it intended to be alarmist. I cannot stress strongly enough how important it is in today’s age, for each of us to take a long-term view on our careers, and plan now for the future economic and work environment that we will experience.

• Off the top of my head, a few capabilities that will be required to be successful in that new economy are clear:

  • 1. The ability to continuously generate new, creative ideas to feed into Ais and quantum computers. Those who can ask the best questions, will outperform.

  • 2. The ability to effective input those ideas into AI, via plain text. Meaning, having a very strong grasp of communication and the ability to effectively communicate concepts to the AI.

QuantaMagazine [Article] – Does Time Really Flow? New Clues Come From a Century Old Approach

• Einstein wrote in 1955, weeks before his death, “the distinction between past, present and future is only a stubbornly persistent illusion.”… The timeless, pre-determined view of reality held by Einstein remains popular today

• However, “if somebody is called on to reflect a bit more deeply about what the block universe means, they start to question and waver on the implications.”

• Mysteriously, individual measurement outcomes are random and unpredictable, even as particle behavior collectively follows statistical patterns. This apparent inconsistency between the nature of time in quantum mechanics and the way it functions in relativity has created uncertainty and confusion.

ExtremeSportsX [Article] – When Extreme Sports Become Normal

• Even if you are not interested in sport or so called “extreme” sports like kiteboarding, skydiving, back country skiing etc. - there are lots of good lessons in this article that are applicable to business and life.

• Here are a few:

  • “For those who stick with [extreme sports] for a while, the boundaries alter, and the once-unthinkable becomes the standard” – this is true of anything in life

  • “The intensity of limit-pushing can occur on a variety of scales. What one person considers to be excessive is often just the right amount for someone else” – Also a good reminder. We are each on our own journey here, and our perspectives are relative to our lived experience.

• Check out the article for many more good tid-bits.

ChiefExecutive [Article] – Lessons From A Legacy: George Weyerhaeuser And The Idea of ‘Business Is A Privilege’

• Awesome quick read. It is always grounding and helpful to hear an accomplished business leader’s perspective about operating from a place of humility and servanthood.

• His take: “business is a privilege granted by society. We have a license to operate from society…as a steward, we think in 20-year increments and are not distracted by daily market fluctuations.”

Welcome back, folks to The Itinerant on mirror.xyz!

Here’s your weekly dose of what I’ve been exploring and contemplating.

TL; DR

Why you should start developing a side-hustle yesterday;  how you should navigate the recession whether as the CFO of your company or of your family; Google Ventures turns off its algorithm for picking startups; why you should check out Saudi Arabia as a travel destination; what I’m looking for at the intersection of Artificial Intelligence and Healthcare; Intel’s latest advances in Quantum  and neuromorphic computing; physicists are reconsidering whether time really flows; why ‘extreme’ sports become normal – and how the lessons apply to our regular lives; and lessons from a successful businessman about how business is a privilege.

Stay curious this week.

Let’s go!

~Ben

As always, please give me feedback. Which area this week was your favorite? Which did you like the least? What do you want more or less of in general? Please let me know.

Email me, leave a comment, tweet / cast / or clout @BenErsing and put #TheItinerant at the end so I can find it.

Business Insider [Article] – Businesses Should Worry About Side Hustles Not Quiet Quitting

• “Gen Z has more avenues than ever to make money with side hustles…Young people can get paid better elsewhere, so they're "never applying in the first place….Companies are going to have a tough time getting people in for under $100K when there's so many options for these kids to make money on the internet” - GaryVee

• In a March survey of 1,000 teenagers, about 60% of respondents said they were more interested in starting their own business than working a traditional job….And the US's independent workforce has risen 34% since 2020”

• GaryVee has arguably the best pulse on Gen Z of anyone, however his perspective here extends to everyone and anyone that dedicates the time and energy to learn how to leverage the new internet.

• There are so many opportunities for people willing to put in the work and be diligent; and it is only going to increase in the coming years.

• We are living through a structural shift in the way careers and work are done, and it is only going to change faster as web3 evolves, and adoption deepens.

Chief Executive [Article] – Uncovering Opportunity In A Recession

• “you can survive economic crisis and emerge stronger…CFOs that prepare thoughtfully for what’s coming will be positioned to capitalize on opportunities for growth and scale, even as they brace themselves for potential challenge”

• This article has some excellent advice for anyone helping to steer a company through the current macroeconomic climate.

• It’s also equally applicable to our home lives: if you prepare thoughtfully for what is to come (and it’s not too late to prepare, because it’s going to get worse IMHO), cut down on expenses, and live frugally, there will be life-changing opportunities to invest in and acquire assets at steep discounts.

Axios [Article] – Google Ventures shelves its algorithm

• Algorithmically driven sourcing and investment allocation within Venture Capital, Private Equity and Real Estate is something I have been interested in for a number of years and have spent a fair amount of time digging into.

• The potential is there, but the main theme I’ve seen is that the nuances of what determines a ‘winner’ vs a ‘loser’ are too complex and multifaceted to be predicted accurately by an algorithm over the long term, at scale. So while it is an interesting prospect and potential tool to aid in the sourcing and diligence process, it is unlikely to ‘automate’ and displace alternative asset investment professionals such as myself.

• So I was naturally intrigued when I saw this article indicating that Google Ventures will be relying less on its algorithm in its investment decision-making process.

TravelIndustryWire [Article] – Saudi Arabia is the Fastest Growing Tourism Destination in the G20

• It has now been 5+ years since I spent time working in Riyadh, Saudi Arabia, but the country’s rapid growth and the genuine, incredibly bright young people I met there, left an impression.

• Such a strong impression, that I have been looking for a way to get back there before it has completely developed into the next Dubai. I’ve also been poking around for opportunities to deploy capital there.

• The TL; DR -> it’s still a challenging place to invest unless you can afford to be there in person a few times a year. Maybe someday that’ll be possible for me, but not right now.

• So it’s not surprising when I see that Saudi Arabia has recorded >121% growth in international tourism over pre-pandemic levels.

• If you have any interest in visiting the Middle East, I would strongly recommend you put Riyadh on your list, as it is one of the last places just beginning to be touched by modernization.

Forbes [Article] – AI In Healthcare Still Has A Long Journey Ahead

• As long-time readers are well aware, The Itinerant is intentionally multi-sectoral focused because I believe the best, most transformational opportunities emerge at the intersection of multiple industries, often from converging trends. The only way to be able to spot them, is by being well read across a range of topics.

• The impact of AI within healthcare is without a doubt transformational, but it still has a very long way to go before it is really transformative at scale.

• This article highlights a few of the challenges, and underscores some of the areas I am actively looking at:

                                 I.            Anything that cleans and structures unstructured data

                               II.            Programs that test training data sets for bias

The Quantum Insider [Article] – Intel Shows Off Advances In Quantum, AI and Neuromorphic Computing

• Last week, Intel shared details about its latest strategic initiatives related to Quantum Computing and Neuromorphic computing. We’re still years away from seeing these solutions available at scale and at a relatively reasonable price-point, but it’s important to be tracking them closely given the massive disruptive potential.

• Here’s an overview of a few key points:

  • The Beta version of Intel Quantum SDK is live. It is designed to help developers learn to program quantum algorithms. Intel expects to have quantum resistant cryptography by 2030. This means they expect quantum to reach scale and broad-enough adoption by then to require security features that can protect against being hacked.

  • All this is being developed in the cloud, in an open-ecosystem approach, catering to ‘Quantum-as-a-Service’ and / or ‘Neuromorphic Computing-as-a-Service’ in the future.

• More and more companies are opening-up the latest cutting-edge technologies to developers in an easy-to-use manner. It has already had a monumental impact on the business landscape, and will continue to do so.

• As we think about the future of work, markets, investing, and our ‘entrepreneurial careers’, trends like this are vital to stay on top of.

• If we project-out 10 years this type of technological development and adoption, it is easy to see how the nature and type of work will radically change for the majority of us.

• This is not new news, nor is it intended to be alarmist. I cannot stress strongly enough how important it is in today’s age, for each of us to take a long-term view on our careers, and plan now for the future economic and work environment that we will experience.

• Off the top of my head, a few capabilities that will be required to be successful in that new economy are clear:

  • 1. The ability to continuously generate new, creative ideas to feed into Ais and quantum computers. Those who can ask the best questions, will outperform.

  • 2. The ability to effective input those ideas into AI, via plain text. Meaning, having a very strong grasp of communication and the ability to effectively communicate concepts to the AI.

QuantaMagazine [Article] – Does Time Really Flow? New Clues Come From a Century Old Approach

• Einstein wrote in 1955, weeks before his death, “the distinction between past, present and future is only a stubbornly persistent illusion.”… The timeless, pre-determined view of reality held by Einstein remains popular today

• However, “if somebody is called on to reflect a bit more deeply about what the block universe means, they start to question and waver on the implications.”

• Mysteriously, individual measurement outcomes are random and unpredictable, even as particle behavior collectively follows statistical patterns. This apparent inconsistency between the nature of time in quantum mechanics and the way it functions in relativity has created uncertainty and confusion.

ExtremeSportsX [Article] – When Extreme Sports Become Normal

• Even if you are not interested in sport or so called “extreme” sports like kiteboarding, skydiving, back country skiing etc. - there are lots of good lessons in this article that are applicable to business and life.

• Here are a few:

  • “For those who stick with [extreme sports] for a while, the boundaries alter, and the once-unthinkable becomes the standard” – this is true of anything in life

  • “The intensity of limit-pushing can occur on a variety of scales. What one person considers to be excessive is often just the right amount for someone else” – Also a good reminder. We are each on our own journey here, and our perspectives are relative to our lived experience.

• Check out the article for many more good tid-bits.

ChiefExecutive [Article] – Lessons From A Legacy: George Weyerhaeuser And The Idea of ‘Business Is A Privilege’

• Awesome quick read. It is always grounding and helpful to hear an accomplished business leader’s perspective about operating from a place of humility and servanthood.

• His take: “business is a privilege granted by society. We have a license to operate from society…as a steward, we think in 20-year increments and are not distracted by daily market fluctuations.”