Blockchain + Crypto Primer

(Photo credit @theshubhamdhage)

These are the days that I wonder why I live in upstate NY, when it’s been in the negative deep freeze conditions for days. When my big Black Lab tells me it’s too cold to go outside (even in her cute little winter jacket), you know it’s hit ‘ridiculously cold’ levels. Instead, I’m distracting myself with more opportunities to speak with many of you! 

#announcements

1. I’ve kicked off the Pivoting into Tech Workshop Series, happening on Fridays between 12-1pm ET. Sessions 1 & 2 are already over, but you are welcome to join me for Sessions 3-5! 

   1. Session 1 was ‘Understanding the Tech Industry’ - click here to check out the video replay. 

   2. Upcoming Sessions:

      1. Tech Resume Revamp: Jan 28

      2. Develop your 30-Second Tech Networking Pitch: Feb 4

      3. Finding the Right Tech Contacts: Feb 11

   3. You can register for any of these workshops here: lu.ma/lizarnold AND newsletter subscribers get $5 off so subscribe to my newsletter HERE to take advantage for future workshops!

   4. You are welcome to share this public link with anyone who you think could benefit from these workshops! 
      

#techsoundbite

After I shared multiple predictions in my last newsletter, I got a question asking me to help explain NFTs. But in order to explain them, I have to take a step back to define a few other terms. So this week, I’ll introduce a brief primer on blockchain & crypto, so that in the next newsletter, I can get to NFTs & DAOs. 

The easiest way I’ve found to start navigating through all of this is to remember this: blockchain is a technology used to facilitate the existence of cryptocurrencies, of which Bitcoin is just one kind. So let’s unpack this sentence a bit. 

Blockchain: “A blockchain is a digital ledger of transactions maintained by a network of computers in a way that makes it difficult to hack or alter. The growing list of records, called blocks, is linked together using cryptography. Each transaction is independently verified by peer-to-peer computer networks, time-stamped, and added to a growing chain of data. Once recorded, the data cannot be altered.” (Nerdwallet) If it helps, I sometimes visualize these as strings of Legos blocks to show the distinct edges of each transaction. Note: there is not just one blockchain - there are tons of them, many of which operate independently of each other. If you’d like to deep dive further into understanding how blockchain technology works, here are 2 well-written guides: BlockGeeks What is Blockchain? and WTF is the Blockchain.

Now, since blockchain tech helps facilitate tracking transactions digitally, it means we can now develop currencies that exist only digitally too, aka cryptocurrencies. A cryptocurrency is an internet-based medium of exchange (or form of payment) that bypasses a central banking authority (like a government or a bank) & instead uses cryptographical functions to conduct financial transactions. A big mouthful. Basically, when you buy something with a paper USD dollar, the US government is backing that transaction to say your piece of green paper is worth what it says it is. A cryptocurrency does all of that with a digital system (and thus far, many have also tended to be highly volatile without that central backing). Two crypto guides you can check out include: BlockGeeks Crypto 101 and Ben Yu’s Crypto 101 (which also discusses Bitcoin).

Bitcoin is a term tossed about all the time as being synonymous with blockchain & crypto - but it’s not. Bitcoin is the most popular of all the thousands of cryptocurrencies out there (tho DogeCoin continues to try to win). It is a highly volatile, fully decentralized currency that exists only on the internet, which means there are 3 main ways to acquire it: generating your own bitcoins via mining, purchasing existing bitcoin, or earning bitcoins in exchange for services. Mining requires technical know-how & hardware, so at this point, it’s unlikely that most will go this route. That leaves purchasing it or earning it. Huge buyer beware - crypto is not for the faint of heart given its volatility (aka the huge change in the rate of exchange at any given moment in the day). Bitcoin ranged in value from $21000 to $69000 in 2021. Two Bitcoin guides include: Coinbase’s What is Bitcoin and CoinTelegraph Bitcoin 101.

If you really want to nerd out further, A16Z has compiled a huge list of articles, podcasts & other resources to understand all of the terms above. 

Side note: blockchain technology is most often referred to in the context of financial transactions, but there are many other applications for using this technology (such as in supply chain or adtech). 

#random

Maybe it's because it's so darn cold outside, but I cannot stop looking at the disaster recipes that exist on The Vulgar Chef. A few disgusting key examples: Gushers Grilled Cheese, Mayoritos Pie (yes, that’s Mayonnaise + Doritos), Spam Cake Pops

Top 5 Favorite 2022 Tech Predictions

(Photo credit @sunlifter)

Happy New Year to all of you! I can’t quite believe that we’re already in 2022. It’s a great time to consider whether a new year means a new job/career for you. 

#announcements

1. If you would like to drop in to say hello or ask a quick tech/career Q, please subscribe to the newsletter - and you’ll get the Q&A registration link!
   

2. I’m also launching a series of short workshops to help you jumpstart your job searches! Based on the LinkedIn poll I did, multiple workshop topics are appealing! (There’s still time to vote if you want to push one forward to the top.) I’ve decided to offer the first one as a free session on understanding tech, and then 4 other paid workshops related to tech resume revamp, job search strategizing, developing 30-second pitches, and finding contacts. 

   1. You can register for any of these workshops here: lu.ma/lizarnold

   2. You are welcome to share this public link with anyone who you think could benefit from these workshops! 

#tech+careersoundbite

It is incredibly popular to do predictions around this time of year. Rather than add to the noise, I thought it would be useful to share 5 of my favorite tech+career predictions for 2022 & add my own commentary. I’d love to hear what you think! 

1. “The next generation of top talent will have “Polygamous Careers,” transforming the corporate world as we know it.”  – Scott Belsky, Chief Product Officer, Adobe.

   1. I love this one for likely obvious reasons. It’s great for creative types who have many interests & career goals, and helps to elevate side hustles from an auxiliary activity to one critical piece of your career/skill portfolio. It’s not really a new concept but I love the thought of it becoming more mainstream within many organizations. 

2. “NFTs will become mainstream and attract far more diverse consumers.” – Nicole Quinn, Partner at Lightspeed

   1. When I read this, it convinced me that I need to take NFTs more seriously: ‘NFT trading volume hit $13bn for 2021, which was a yoy increase of 43,000% (!!).’ I’m fascinated by how this tool can help creators of all types to better monetize their artwork, and at the same time, how brands can leverage the usage of unique NFTs in the new metaverses being developed. Your avatar could wear a piece by a designer or you could own a unique copy of a song from a new artist - and these are verified by the blockchain. More to come on NFTs in a future newsletter!

3. “The Zuckerverse Is the Biggest Tech Fail of 2022” – Scott Galloway, NYU MBA Professor & Founder, Section4

   1. Ready Player One has shown us that one company designing a metaverse game can easily go horribly wrong, and Meta (aka Facebook) is no different. They have already hosted 3 concerts that were poorly attended. And while I have no doubt that some will be attracted to their metaverse, if it is siloed off from other virtual worlds, it’ll likely die on the vine. 

4. “The spirit of Silicon Valley continues a spread outward.” – Tomasz Tunguz, Managing Partner, Redpoint Ventures

   1. The dispersion of tech talent from Silicon Valley to remote locales & the conviction of Theranos’ disgraced CEO Elizabeth Holmes is part of the subtle dismantling of a power concentration in Silicon Valley. It will always retain an allure & plenty of power due to all the company HQ’s – but it has been fascinating to watch other cities like Miami & Austin suck talent to them. I will be very curious to see what will happen in the coming months as hybrid/remote work becomes more commonplace. 

5. “Precision medicine is imperative to scaling care delivery amidst rising demand.” – Aike Ho, Principal, Acme Capital

   1. We need continued innovation in digital health to support the rising demand for healthcare services (hello neverending pandemic!) coupled with the decline in the number of healthcare professionals here in the US. The only way to scale services is via tech-enabled healthcare services. Tho as there are some worrisome trends about AI bias that could cause some unintended consequences, we & the growing health tech startups need to remain vigilant. Many of the communities that require tech services are in low-income and rural areas that are losing healthcare workers at higher rates. 

#random

Forget the metaverse - instead, contemplate the existence of the Multiverse. The TV show Fringe delved into this topic if you want to nerd out on a very weird yet binge-able show. 

Dusting off your LinkedIn profile as a covert job seeker

(Photo credit @nathanareboucas)

#careertip

Some of my current clients are looking for a new job while they are still working at the current one. It’s a common occurrence for many of us - but the challenge arises when you are trying to network, but don’t want the current employer to know your plans. How do you update your LinkedIn profile without spooking your manager? Here are 4 steps to take: 

1. Turn off the feature that broadcasts your profile updates to your network! 

While it can be a useful feature when you want everyone to know about your promotion or job change, it’s not helpful at this stage of your job search. Here are directions on how to find & turn off that feature. 

2.  Turn on the ‘Open to Work’ feature - but *only* for Recruiters. 

LinkedIn added a feature called ‘Open to Work’ - you’ve likely seen some profile pictures with this hashtag surrounding the picture. That is visible if you have indicated you want ALL of LinkedIn to view your job-seeking status. If you only want Recruiters to know you’re seeking, make sure to select that option. Here are directions on how to turn on/off the Open To Work feature. 

3. Consider what skills your new roles(s) will find relevant

If you are pivoting to a new industry or new type of role, you need to update the content & messaging of your LinkedIn profile for both humans AND algorithms. Browse a few job descriptions for the role(s) you want to pivot into. Then write down the keywords & skills they emphasize to give you a solid list of words you should be including somewhere on your profile. 

4. Change these 3 items now: Headline, About Me/Summary, and Skills. 

• Your headline should reflect what you want to do (not just what you currently do). It may also reflect your personality or the way you interact on a team. Here are a couple of sample headlines to help guide you: Product Manager, Data | Musical Prodigy in my mind | Extroverted Introvert OR Product Marketing Manager | ECommerce Nerd | Marathon Runner

• Your ‘About Me’ section should at a minimum include a 3-line summary of your bio. Make sure to include the keywords for the role(s) you want to pivot into (as they are searchable too). 

• Think of your Skills section as the keywords that recruiters will be searching for to find candidates like you! Make sure to select the Skills you want to appear at the top of your profile.