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Ageism: Does it Exist or Is It a Form of ‘I’m a Victim!’ Mentality? [ Part 1 ]

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Get over your victim mentality. Be honest with yourself.

This is the first of a 4-part series dealing with ageism while job hunting.

Many job seekers, young and old, play the ageism card. This card, sometimes along with others, is used to avoid accountability. People look for excuses when they don’t get what they want or feel entitled to.

“This happened to be because…”

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“I’m not getting opportunities because…”

Egos sabotage job searches. Egos kill careers. Egos create narratives that create limiting beliefs and that biggest turnoff of all, a sense of entitlement.

The truth is everyone has an “ism,” sometimes several, which either needs to be overcome, spun as a strength, or simply accepted. Another truth: Employers have the right to do what they feel is best for their business—to protect their self-interest.

When you lose any sense of feeling entitled—that you’re owed—most of your self-limiting beliefs disappear. As a result, you see there are opportunities all around you, with one caveat—you must earn them.

Your age, gender, sexual orientation, political ideology, religion, race, and what you believe don’t play as significant a role in an employer’s hiring decisions as you’ve been led to believe. However, this doesn’t mean the workplace is a level playing field.

In a holistic sense, the workplace was never intended to be a level playing field. How can it be when every employer’s survival depends on generating and maintaining revenue? Every employer-employee relationship is based on what every business needs to survive: creating a profit. Thus, understandably employers place a higher value on employees whose work directly impacts their revenue (generates, reduces costs, increases efficiency, retains customers) than on employees whose ROI isn’t easily quantifiable.

Since all employers are profit-seekers, job hunters who demonstrate an undeniable track record via their result-oriented resume and LinkedIn profile of influencing their previous employer’s bottom line rarely encounter perceived “isms.”

As regular readers of my column know, I base my pragmatic job search advice on four truisms:

  1. Employers don’t owe you anything and aren’t responsible for keeping the workforce employed.
  2. Employers own their hiring process. Employers define their culture and therefore have the right to hire whomever they want.
  3. Applying to job postings is equivalent to playing the lottery; you’re expecting a stranger to hire you.
  4. Job seekers tend to overestimate their value to employers. (Rare is the employee who can quantify their value to their employer.)

All “isms” exist because of a perceived risk. When it comes to ageism, which undoubtedly exists for ALL AGES, a candidate’s age isn’t the issue. (READ: concern) The various “risks” that are believed to come with the candidate’s age, whether 33 or 53, is the issue. A hiring manager may assume older candidates are less technologically savvy, want a higher salary, or have health issues. In contrast, the same hiring manager may assume younger candidates, especially recent graduates, don’t have enough experience, are too demanding of employers, or don’t have a strong work ethic.

There are hiring managers who prefer young candidates, and there are hiring managers who prefer mature candidates. Long overdue is a non-judgmental conversation if perceived “age risks” are valid.

Job seekers conveniently forget that when the hiring manager green lights a candidate, the entire company sees their hiring decision. From the hiring manager’s perspective, you can see that minimizing hiring risks and being seen as competent when it comes to hiring are reasonable goals. Hiring managers are human and therefore, without exception, incorporate their biases into hiring decisions, hoping to minimize hiring risks.

Hiring is choosing. Choosing requires discriminating against those not selected, which means there’s an architecture to all “isms,” especially when it comes to an across-the-board “ism” such as ageism. We all have one undeniable commonality, everyone gets old. This human fact makes ageism ironic. One day, the hiring manager practicing ageism will be the candidate’s age or was once the candidate’s age looking for a break.

Aging is a natural part of life. It’s not a problem to be solved. It’s a blessing to grow old gracefully while enjoying relatively good health. Who doesn’t hope to live a long and healthy life?

What’s never discussed is what’s keeping ageism alive—other “isms” have their own reasons for staying alive—and what, if anything, can be done about it. Such a discussion requires looking at the employer’s side of the hiring process, which I’ll discuss in my next column. Maybe it’ll start that long overdue conversation I mentioned earlier. For now, I’ll leave you with the following truism: Employers are risk averse (more so these days). Therefore, when job hunting, no matter your age or whatever “ism” you believe you have against you, always present yourself as the least risky hiring option.

______________________________________________________________

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send Nick your questions at artoffindingwork@gmail.com.

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Tesla Promises Cheap EVs by 2025 | OilPrice.com – OilPrice.com

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Tesla Promises Cheap EVs by 2025 | OilPrice.com



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Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.

The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.

Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.

Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.

Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.

The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.

Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.

By Charles Kennedy for Oilprice.com

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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