Future Skills

The 2008 crisis was a hell-hole for the financial industry, as we all know.

What most people don’t know, however, is that it was almost as bad for the legal profession. 60% of legal graduates (J.Ds) couldn’t get a job upon graduation.

Finance and law are stereotypical industries where you are so specialized that—if the industry takes a hit—you will be in trouble. And then there's ecosystemic risk.

Industry disruption is bound to happen everywhere sooner or later; to protect yourself you should learn transferable skills.

Some top examples of transferable skills are:

• Learning how to learn,
• Social skills
• Focusing & getting into flow,
• Metacognition (thinking about how you think)
• Avoiding chronic stress
• Mastering a medium of communication

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The 4 capitals are the foundation of becoming Future-Proof. What are they?

 Financial capital (Uncle Scrooge)

 Social capital (Godfather)

 Cultural capital (Richard Feynman)

 Influence capital (Oprah Winfrey)

Tip: When you think about your progress in life, try to be concrete. A good way is to use this outline, and think of how you improved in one or many of these capitals.

Noble indulgence homework: Watch "The Defiant Ones" and consider how weird Jimmy Iovine’s career trajectory has been. Then consider it from the perspective of the 4 capitals.

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It’s a TRAP!

Once your sleep takes a hit, you can adapt to it, but it will transfer to other parts of your body’s hormones, and it will create a downward spiral that goes like this:

(1) Bad Sleep >> (2) Higher Cortisol Levels >> (3) Lower Impulse Control, Tired and Hungry >> (4) Eat Sugar and Consume Stimulants for Fast Energy and Focus >> (5) Become Fatter and More Stressed >> . . . Bad Sleep [AGAIN]. . . .

Then if you continue for more than 2-3 days, it will become your body’s new "Steady State" (Homeostasis), and you will want to remain in it.

This is a small excerpt from Ludvig’s book Breaking out of Homeostasis.

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Alexander Bard is most famous for his music career, where he's put together successful groups like Army of Lovers and Bodies Without Organs, and for being the top judge of Swedish Idol. He’s also a futuristic philosopher — one of the most well-informed when it comes to understanding how the Internet and social media is impacting the rest of the world (business, government, public debate).

Together with Jan Söderqvist, he's written the 4 books: Netocracy (recommended), The Digital Empire, The Body Machines, and Syntheism, and soon -- their new book "Digital Libido".

Here are some of the things you’ll learn in this discussion:

• The truth about online success (and how the Internet resembles a "matrical structure" similar to a kindergarten)
• What happens when the Nanny State and Consumer Society combine — and then you throw in a society that lacks proper rites of passages?
• How to find the best people for you to Collaborate with (this is the most important career advice for most people, who are not already collaborating)
• And, whether — if you know yourself — your role should be the same on *every* team you're on, or not, and how this has changed for Alexander throughout his career

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These are two different personality traits. You can think of them as being polar opposites on a spectrum. Depending on which one you are, it has a big impact on how you should manage your career and plan your days. If you’re neither, then you’re probably in the middle. That could mean you’re an Executor.

An Initiator is someone who has a lot of ideas and can begin new projects easily. An Initiator needs a team — badly. A Refiner is someone who maybe doesn’t have too many original ideas, but can improve on someone else's ideas, like an editor or an investor. And the stereotype of an Executor is someone who’s a good CEO or salesperson.

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Maximization vs satisficing: This is both a decision-making rule *and* a personality spectrum. People who are Maximizers will dig themselves deep into details and make sure what they’re doing is done properly; they are perfectionists by nature. People who are Satisficers will just make do; they’ll do the minimum for moving the project forward, and want to move forward fast. A team should consist of both types.

In this episode we cover:

-The differences between the two

-Examples of both types in the many of the big industries

-And how you should manage your time as an Maximizer

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Martin Sandquist is the founder of Lynx Asset Management, one of the biggest hedge funds in Europe. They're classified as a CTA (commodity trading advisor) and have +70 employees. Martin is no longer active in Lynx. He now spends most of his time managing money and trading on his own.

In this conversation you'll learn:

Martin's 30/30/30/10 time-management method

The 4-step formula that explains most extraordinary business success

Why Martin doesn't call people up for his trades and insists on keeping his ideas to himself

10 book recommendations

What Martin learned from George Soros (and why he keeps Alchemy of Finance on his night stand)

What Martin learned from Ray Dalio and Bridgewater

How to put together a Dream Team in finance

See link in description:

If you'd like our summary of the 27 Lessons from Martin, go here:

https://futureskillspodcast.com/martin-sandquist-ebook

Inspired by Richard Koch's 80/20 Principle book, we discuss a little-known method for becoming more creative by measuring your mood. Everyone can use it, but it will be more effective for (1) those who have wild mood swings or wide variations of energy levels and/or (2) control their own time.

Competition:

10 people will win a 15-min coaching session and will receive 3 bottles of ArcticMed (Europe's best omega-3 fish oil, which we both use). The coaching will be done by Skype and you get to pick our brains on any topic of your choosing.

To qualify, here's what you need to do:

1. Leave an iTunes review of Future Skills.

2. Take a screenshot of it.

3. Send to [email protected]

By 1st of April we will randomly select 10 winners and let you know by email (we'll ask you for a time and date for the Skype session and your physical address for the shipping).

We explain what Future Skills is about and then we discuss why you should have a commonplace. Commonplacing is a mental practice used by many of the greatest thinkers in history, and it will teach you to become a more structured thinker. We both keep commonplaces ourselves.

Competition:

10 people will win a 15-min coaching session and will receive 3 bottles of ArcticMed (Europe's best omega-3 fish oil, which we both use). The coaching will be done by Skype and you get to pick our brains on any topic of your choosing.

To qualify, here's what you need to do:

1. Leave an iTunes review of Future Skills.

2. Take a screenshot of it.

3. Send to [email protected]

By 1st of April we will randomly select 10 winners and let you know

by email (we'll ask you for a time and date for the Skype session and your physical address for the shipping)

Regards, Karl-Mikael Syding and Ludvig Sunström

FUTURE SKILLS