This newsletter may take a slightly different turn from those I’ve written before. One thing I try to do in my writing is to make intangible concepts feel practical and approachable. But this might take some extra imagination, because it hasn’t been done. We all hold the collective hope for building a better world, but we have no idea what that looks like or how to start. I was inspired to share my thoughts after a post from Chelsea Jewel talking about 2023’s Astrological Highlights. The thing that stuck out was that Jupiter (the planet of luck and expansion) is entering Taurus (representing money and resources), in May of this year. The questions she asked followed a similar theme of many one-on-one conversations I’ve had about these topics, which was very validating. I could just keep it to myself, but for some reason it felt important to put it out in the open. So enjoy the forthcoming brain dump, and I’d love to hear your thoughts and ideas! I have a feeling I’m not alone.
“When you think about it…isn’t it kind of f**ked up that our retirement accounts are dependent on corporations’ continuous growth and profitability? At what point does that stop? It’s not sustainable or realistic to expect that kind of growth forever, is it?”
I’m not sure exactly when it was, but I said some version of this to Bryan in one of our many philosophical discussions over the years. That realization has stuck with me ever since, because I still don’t have a good answer for it. Sure, some companies continue to grow, some companies fail, others take their place, and still others are more stable and quietly profitable. But the overall formula is much the same.
With the way our system currently works, companies are incentivized to make decisions that benefit the bottom line—and ultimately shareholders—at the expense of the humans who enable that profitability. They “squeeze the lemon” to cut costs: they opt for high-deductible health plans, reduce 401k matching, buy back shares, and lay off hundreds or even thousands of people. This is rewarded with an increase in stock price or appearing more attractive to potential investors and buyers. In other words, they become lean and mean, emphasis on the mean. Shareholders love it, and employees hate it; but what can they do? Their 401k and/or company stock relies on continuous growth, so their future is invested in a system that decreases their quality of life. As we know from the ugly history of slavery, in the U.S. and other powerful civilizations since the dawn of time, success is usually built on someone’s back.
The pandemic showed us a glimpse of what’s possible when people have more flexibility, and perhaps what the future of work may look like. When people don’t spend time commuting to a physical work location, many companies who were able to adapt experienced unprecedented profitability and growth. Obviously this isn’t true for everyone, or all industries. But even now, recent trials and studies are showing that companies shifting to a 4-day work week without reducing pay increases profitability and employee satisfaction.
Yet, we see many companies fighting change by forcing employees back to the office, as the demand for remote work continues to grow. LinkedIn recently stated that while only 14% of jobs available on their platform are fully remote, they account for 50% of all applications. People are waking up to the idea that you don’t always need to be in person to be productive, and that amazing things happen when you trust adults to do their jobs without constant supervision. Regardless of location, people thrive in an environment with psychological safety, autonomy, trust, and support.
The tech industry is also reaching a tipping point. Tech companies are laying off parts of their workforce that helped them achieve unprecedented success during the pandemic when digital advertising and online shopping were at an all-time high. Now, as inflation reduces spending and a recession looms, they’re attempting to get ahead of the curve and cut costs again. It’s somewhat understandable risk mitigation for now, but there are more potential challenges ahead: With growing technological innovation, there’s concern that AI will automate many professions in years to come, further complicating the job market.
As many look to “return to normal,” it’s clear that people are no longer willing to accept the old terms. Especially with recent layoffs, it appears that knowledge workers are feeling betrayed and realizing that full-time employment isn’t as stable as it seems. Many are looking to make the shift away from full-time employment, seeking self-employment and freelancing instead.
All of these shifts lead me to ask: What if there was another way? What if success looked less like crabs in a bucket clawing to get to the top and more like those with a solid foundation boosting others up and supporting each other? There’s a saying that a rising tide lifts all ships. What if we believed that there’s plenty to go around, that someone else’s success empowers everyone instead of threatening or taking away from our own success? What if we viewed automated technology as a tool to reduce administrative burden and free our time to do more impactful work, or—Gasp!—work less hours and live our lives?
Many will say that this is just the way capitalism works, but I disagree. Don’t get me wrong—there are definitely downsides to capitalism, but there are good things, too. Other systems may seem appealing in theory, but history shows that they’re rarely as good as they aim to be, and don’t necessarily result in the equitable outcomes we desire. Governments wielding too much power are no better than corporations doing the same, and they’re often less efficient. Rather than throwing it out altogether, I think what we seek is a balance of power, prosperity, and compassion, a human-centered approach to doing business.
What we see now is a bloated version of capitalism that incentivizes companies to continue growth at all costs. Large companies spend large sums of money to lobby government officials to pass legislation for their benefit and find all the right loopholes to pay little to no effective tax. You’d think that this would amount to more job creation, which may be true in some cases. Unfortunately, that cost savings doesn’t often “trickle down” to the employees as much as we’d like. Because the system wants us to keep growing, keep making more money, that excess capital is dedicated to rewarding shareholders and repeating the same practices to ensure continuous growth. The tax burden is then shifted to small businesses who would see massive benefit from tax breaks to reinvest and create jobs in their local economy.
The biggest benefit of true capitalism is the freedom to innovate. So what if we took a risk? What if more businesses committed to sustainability vs. exponential growth? What if the government rewarded companies for investing in people? What if small businesses had the same growth opportunities? I believe we’d see unprecedented levels of prosperity, even if the means of getting there seems counterintuitive at first. Smart business decisions don’t have to be limited to short-sighted cost-cutting measures. If the people that work for you are the reason you succeed, wouldn’t you want to invest in retention for continued success?
I recognize that there are businesses out there trying to change the game, give back, and reward their people with competitive compensation and benefits as much as they can. There are entrepreneurs showing the world that it is possible to have a career that you enjoy, make good money (the definition of which is different for everyone), and have a life outside of work.
Are these thoughts naive and overly optimistic? Maybe. But we’ve been able to create and do things that no one thought possible years ago.
What if it’s not so crazy after all?
The Overshare Zone
Feeling: A bit of a vulnerability hangover after the above brain dump. Those who interact with me IRL know that I’m an open book about a lot of things. Or the fact that I have an Overshare Zone in this newsletter should have given you a clue. :) There’s something about putting your thoughts on the internet for all to see without knowing how it will be received. I always feel a little bit of this anxiety whenever I put anything out there, especially if the topic feels weighty, vulnerable, or slightly controversial. This newsletter is a practice in remembering that what other people think is none of my business.
Loving: My new frankincense incense that my dear friend Atika gifted me for Galentine’s Day. As a kid, I used to go to a hippie store in the nearest shopping mall 45 minutes away and buy Sex on the Beach incense (which smelled like the fruity cocktail) and check out all the tie-dye t-shirts and Grateful Dead memorabilia. So lighting incense for the first time in years brought back memories and made my heart happy. It’s the little things.
Proud of: Myself for trying new things. I recently completed a personal tarot project by making a bridge-sized tarot deck on plastic cardstock using Make Playing Cards, a print on demand service. I’m not a graphic designer, but I was able to figure out a way to make it work with some help and advice from others. It was a really fun creative outlet, and I’m already dreaming up new iterations. I also recently started dipping my toe into the world of Instagram reels. Yes, I know I’m late to the party, but better late than never. I avoided it for so long because I thought it was overly complicated, and the contrarian in me didn’t want to do something just to cater to the whims of the algorithm and whatever’s currently trending. Eventually I realized I was being a curmudgeonly elder millennial and decided to give it a try before I wrote it off forever. To my delight, I discovered that it’s actually kind of fun! So I’m having a moment with it and brainstorming new content ideas.
Pondering: Setting boundaries around my social media/phone use. Yes, I know I just talked about having fun with creating content and wanting to do more of that, but I also recognize the need for reasonable limits. I’ve mostly curated my feed to be filled with people I either keep in touch with or love to learn from, but I also realize how much time is lost scrolling through stories, which takes away from other creative pursuits or simply being in the present moment. Has anyone else out there set social media/phone boundaries? What worked for you? Let me know!