Diary of a Madman, Page 54
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I. Featured Analyses
- Use Fortune 500 Tools to Acquire New Tools [Sean Everett]: learn to use the same tools as the big boys.
- To These Women, Remote Work Is The Cure to Corporate Burnout [Tom Kuegler]: digital nomadism is a real trend, you just have to figure out the living situation part.
- Vegetable Oils Promote Male Infertility [P. D. Mangan]: how can something so pervasive be so dangerous?
- Need Help With Your ICO, Here’s 4 Great Tips [FundYourselfNow]: these tips go deep, including how to secure everything.
- A Genius Reveals How To Be Creative [Jimmy Soni]: from Claude Shannon’s 1952 speech.
II. News To Get You Ready for What’s Coming
Instead of only emerging tech, and only once per week, why not expand to all topics so you can read them every day. Penned by yours truly, we cover every aspect of learning from tech to science to life, sports, and health. In this week’s episode:
- August 4: ontology, CRISPR, mech battles, VR therapy, honey badgers.
- August 3: cue up YouTube for your toddler, then go buy a ‘healthy’ hot dog with some Bitcoin Cash.
- August 2: biologic fat burning switch, oil efficiencies, video subs, implantable key cards, Snap selfie drones, fake news made real.
- August 1: Zealandia, melatonin, Buffett’s American experiment, Westworld Season 2, Escher’s cube, Y Combinator for office.
- July 31: sci-fi writing for corporates job, Beltre’s 3K, money bot, box office business, auto weed, climate heat.
III. Dear Diary: Building Tools & Free Work
Lately it seems everyone wants free work. It’s happening more and more to the agency business, consultants, creative directors, product and sales people. Everybody wants something for nothing.
So I decided to add up how much my brain has cost me over the last 20 years of working professionally:
- Formal Education: forget K-12, but instead focus on college and grad school. For learning math, actuarial science, and business, it cost $250,000.
- Informal Education: everything learn from daily self-directed study. Just the time alone is at least $250,000.
- Self-Funded Startups: the knowledge gained from spending your own money and time building things to learn about them from consumer app, artificial intelligence, enterprise and industrial grade software, international trade, growth hacking, scientific endeveours and the investment into a professional network is worth at a minimum $500,000
- Opportunity Cost: giving up nights, weekends, vacations, and then having a nice cushy corporate jobs where you collect a check for checking Facebook and get cheap benefits, free vacation, etc and we’re at another $250,000. Pretty small amount if I asked you how much money it would take for you to give up your personal life for a decade.
- Experience: call it another $250K of miscellaneous experience gained as real knowledge between the gaps of all the other stuff. Call it the price of failing.
- Interest: how about interest on all of this time and money. Using a small rate like inflation of 3% rather than credit card rates of 20%+ and you’re at $50K per year * 10 years conservatively equals $500,000.
You’re at $2M as the cost of your brain. If you price this out as a monthly mortgage at a standard 3.92% interest rate, your monthly price is $9,500.
A mortgage for your mind will cost you nearly $10,000 per month. In order to meet that monthly payment, you have to make $10K mortgage * 12 months = $120,000. But that’s after tax because the government has to take their cut. Which means you need to make $200,000 per year in salary to cover the cost of your mental mortgage.
But in terms of an hourly rate for an AI expert, it’s going to cost you $250 per hour for a $10K minimum project. That doesn’t even include the expertise needed to build a product around the AI, the business knowledge necessary to market it and the relationships required to make it successful. So if you want all that, it’s going to cost you at least double.
Call it a cheap lawyer with a much bigger benefit. $500 per hour for someone to rent your mind just like they would pay to rent your house. You’ve still got a mortage to cover, after all. Only this one is for your mind.
Consulting is a business model.
Don’t give away your mind, nor your work, for free. Know your worth.
Read The Rest
Page 53, 52, 51, 50, 49, 48, 47, 46, 45, 44, 43, 42, 41, 40, 39, 38, 37, 36, 35, 34, 33, 32, 31, 30, 29, 28, 27, 26, 25, 24, 23, 22, 21, 20, 19, 18, 17, 16, 15, 14, 13, 12, 11, 10, 9, 8, 7, 6, 5, 4, 3, 2, 1
Humanizing Tech is a premium technological think tank for building humanity’s future. It covers autonomous robotics, self-learning AI, superhuman augmentation, personal hedge funds, editable DNA, SAAS space platforms, personal power stations, and video as an app. It recently joined forces with The Mission. This newsletter is a peek inside the Editor’s mind.
from Stories by Sean Everett on Medium http://ift.tt/2vcFkLU