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As sent by the thoughtful investor

A bit long but worth a read..leaves you with a thought for yourself and for your generation ..

Thomas Friedman, the Pulitzer prize-winning author and New York Times columnist, believes the three big trends that will shape the 21st century are the three Ms: markets or economic globalisation; Mother Nature, including climate change, biodiversity loss and population pressure; and Moore's Law, that is the impact of technology. Given everything is changing, how can we equip our children – and ourselves – for the jobs of the future?

But the emphasis on technical skills is overdone. Technology is changing so rapidly that you can't possibly equip schoolkids with the hard skills of the future, because they'll be obsolete before they reach the workforce. The only way to equip children for the future of work is to develop their imagination, creativity and emotional intelligence. If the world is changing, the best thing you can do is equip them for change. They need to be emotionally resilient with a habit of self-directed lifelong learning. Friedman agrees soft skills are more important than hard skills, and cites his recent trip to Appalachia, where employers favour farm kids and veterans because they know how to show up and work hard. He believes five mindsets will be needed this century, especially in the world of work.

1. Think like an immigrant, because we are all immigrants to the age of acceleration. You need to be a paranoid optimist – you believe there are opportunities, but take nothing for granted.
2. Think like an artisan. Don't settle for being a cog in the machine, like Adam Smith's division of labour in the pin factory. Instead take such pride in the outcome that you want to carve your initials into it.
3. Think like an innovator. If you think of yourself as a "finished product", you're finished. Consider yourself in "permanent beta", like a software release. Be a lifelong learner and always be ready to reinvent, re-engineer or reimagine your job before someone does it to you.
4. Think like an entrepreneur – even if you're waiting tables. Even if you don't control much, used what you have to do something extra that would make a difference.
5. Think of equation PQ + CQ = >IQ. That means that passion quotient plus curiosity quotient beats intelligence quotient.

Friedman says his advice applies equally to people who've been in the workforce for a few decades. I posit that many people will have the passion and openness when they're young, but it can fade as they settle into life. This is not an unfounded stereotype, it's what the psychological research reveals, as I wrote in a recent column on generational differences in the workforce. Friedman agrees: "There's a whole group of men and women aged 45 to 60 who are really caught in that vortex, their jobs have been disrupted and disintermediated but they don't have the predisposition to go out and learn something else. It's a real challenge for all developed societies." But as someone who has dealt with change for most of my career, I think you can lean into it at any age and get used to the discomfort. Your comfort zone is a trap.

Sent from my iPhone


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