#business financing challenges

[scoobydoodean]

LATER:

Supernatural | 6.12 Like A Virgin

[deeyaacademia]

june 05, 2024.

i have decided to start ‘the 100 days productivity challenge’ so as to hold myself accountable for my work as well as document my days. ALSO I HAVE EXACTLY 100 DAYS LEFT FOR THR FIRST CA FOUNDATION EXAM SO IT’S PERFECT?? wish me luck xx

[05.06.2024 to 13.09.2024]

[signode-blog]

10 Movies on Stock Markets You Should Watch

The world of stock markets is full of drama, intrigue, and high stakes, making it a captivating subject for movies. I would recommend you to watch these movies on stock markets. Here are 10 films that offer a glimpse into the thrilling world of finance: The Big Short (2015) “The Big Short” is a 2015 American biographical comedy-drama film directed by Adam McKay, based on the 2010 book “The Big…

[champstorymedia]

Inspiring Women in STEM: Leaders Making Waves in the Tech Industry

Introduction Women have been breaking barriers and making significant strides in the field of STEM (Science, Technology, Engineering, and Mathematics) for decades. As we celebrate the women who have paved the way for future generations, it’s essential to highlight the inspiring women who are currently making waves in the tech industry. These leaders are not only excelling in their respective…

[artisticdivasworld]

How to Find Brokers with a Good Reputation as a New Carrier

Navigating the trucking industry as a new carrier can feel like trying to find your way through a maze. One of the most critical steps to success is finding reliable brokers with a good reputation. Working with the right brokers can ensure consistent loads, timely payments, and a strong working relationship that supports your growth. But how do you identify the brokers that will set you on the…

[jcmarchi]

Playing a new tune

New Post has been published on https://thedigitalinsider.com/playing-a-new-tune/

Playing a new tune

For generations, Andrew Sutherland’s family had the same calling: bagpipes. Growing up in Halifax, Nova Scotia, in a family with Scottish roots, Sutherland’s father, grandfather, and great-grandfather all played the bagpipes competitively, criss-crossing North America. Sutherland’s aunts and uncles were pipers too.

But Sutherland did not take to the instrument. He liked math, went to college, entered a PhD program, and emerged as a professor at the MIT Sloan School of Management. Sutherland is an enterprising scholar whose work delves into issues around the financing and auditing of private firms, the effects of financial technology, and even detecting business fraud.

“I was actually the first male in my family to not play the bagpipes, and the first to go to university,” Sutherland explains. “The joke is that I’m the shame of the family, since I never picked up the pipes and continued the tradition.”

The family bagpiping loss is MIT’s gain. While Sutherland’s area of specialty is nominally accounting, his work has illuminated business practices more broadly.

“A lot of what we know about the financial system and how companies perform, and about financial statements, comes from big public companies,” Sutherland says. “But we have a lot of entrepreneurs come through Sloan looking to found startups, and in the U.S., private firms generate more than half of employment and investment. Until recently, we haven’t known a lot about how they get capital, how they make decisions.”

For his research and teaching, Sutherland was awarded tenure at MIT last year.

Piper at the gates of college

Sutherland is proud of his family history; his grandfather and great-grandfather have taught generations of bagpipe players in Nova Scotia, with many of their students becoming successful pipers around the world. But Sutherland took to math and business studies, receiving his undergraduate degree in commerce, with honors in accounting, from York University in Toronto. Then he received an MBA from Carnegie Mellon University, with concentrations in finance and quantitative analysis.

Sutherland still wanted to research financial markets, though. How did banks evaluate the private businesses they were lending to? How much were those firms disclosing to investors? How much just comes down to trust? He entered the PhD program at the University of Chicago’s Booth School of Business and found scholars encouraging him to pursue those questions.

That included Sutherland’s advisor, Christian Leuz; the long-time Chicago professor Douglas Diamond, now a Nobel Prize winner, whom Sutherland calls “one of the most generous researchers I’ve met” in academia; and a then-assistant professor, Michael Minnis, who shared Sutherland’s interest in studying private firms and entrepreneurs.

Sutherland earned his PhD from Chicago in 2015, with a dissertation about the changing nature of banker-to-business relationships, published in 2018. That research studied the effects of transparency-improving technologies on how small businesses obtained credit.

“Twenty years ago, banking was very relationship-based,” Sutherland says. “You might play golf with your loan officer once a year and they knew your business and maybe your employees, and they would sponsor the local softball team. Whereas now banking has been really influenced by technology. A lot of companies provide credit through online applications, and the days where you had to supply audited financial statements has gone away.” As a result of the expansion in technology-based lending, credit markets have shifted from a relationship basis to a transactional focus.

Sutherland, who is currently an associate professor at MIT, joined the faculty in 2015 and has remained at the Institute ever since. A fan of modern art, his office at MIT Sloan includes an Andy Warhol print, which is part of MIT’s art-lending program, as well as reproductions of some of Harold “Doc” Edgerton’s famous high-speed photographs.

Sutherland has since written five papers with Minnis (now a deputy dean at Chicago Booth), and other co-authors. Many of their findings highlight the variation in lending and contracting practices in the small business sector. In a 2017 study, they found that banks collected fewer verified financial statements from construction companies during the pre-2008 housing bubble than afterward; before 2008, lending had become lax, similar to what happened in the mortgage markets, and this contributed to the crisis. In another study from that year, they showed how banks with extensive industry and geographic expertise rely more on soft than hard information in lending.

“We’re trying to understand the ‘Wild West’ in accounting and finance more broadly,” Sutherland says. “For firms like entrepreneurs and privately held companies, largely unfettered by regulation, what choices do they make, and why? And how can we use economic theory to understand these choices?”

Business, trust, and fraud

Indeed, Sutherland has often homed in on issues around trust, rules, and financial misconduct, something students care about greatly.

“Students are always interested in talking about fraud,” Sutherland says. “Our financial system is based on trust. So many of us invest on an entirely anonymous basis — we don’t personally know our fund manager or closely watch what they do with our money.” And while regulations and a functioning justice system protect against problems, Sutherland notes, finance works partly because “people have some trust in the financial system. But that’s a fragile thing. Once people are swindled, they just keep their money in the bank or under the mattress. Often we’ll have students from countries with weak institutions or corruption, and they’ll say, ‘You would never do the things you can do in the U.S., in terms of investing your money.’ Without trust, it becomes harder for entrepreneurs to raise capital and undermines the whole vibrant economic system we have.”

Some measures can make a big difference. In a 2020 paper published in the Journal of Financial Economics, Sutherland and two co-authors found that a 2010 change to the investment adviser qualification exam, which reduced its focus on ethics, had significant effects: People who passed the exam when it featured more rules and ethics material are one-fourth less likely to commit misconduct. They are also more likely to depart employers during or even before scandals.

“It does seem to matter,” Sutherland says. “The person who has had less ethics training is more likely to get in trouble with the industry. You can predict future fraud in a firm by who is quitting. Those with more ethics training are more likely to leave before a scandal breaks.”

In the classroom

Sutherland also believes his interests are well-suited to the MIT Sloan School of Management, since many students are looking to found startups.

“One thing that really stands out about Sloan is that we attract a lot of entrepreneurs,” Sutherland says. “They’re curious about all this stuff: How do I get financing? Should I go to a bank? Should I raise equity? How do I compare myself to competitors? It’s striking to me that if that person wanted to work for a big public firm, I could hand them a textbook that answers many of these questions. But when it comes to private firms, a lot of that is unknown. And it motivates me to find answers.”

And while Sutherland is a prolific researcher, he views classroom time as being just as important. 

“What I hope with every project I work on is that I could take the findings to the classroom, and the students would find it relevant and interesting,” Sutherland says.

As much as Sutherland made a big departure from the family business, he still gets to teach, and in a sense perform for an audience. Ask Sutherland about his students, and he sounds an emphatically upbeat note.

“One of the best things about teaching at MIT,” Sutherland says, “is that the students are smart enough that you can explain how you did the study, and someone will put up a hand and say: ‘What about this, or that?’ You can bring research findings to the classroom and they absorb them and challenge you on them. It’s the best place in the world to teach, because the students are just so curious and so smart.”

[techtoio]

AI-Powered Software Solutions: Revolutionizing the Tech World

Introduction

Artificial intelligence has found relevance in nearly all sectors, including technology. AI-based software solutions are revolutionizing innovation, efficiency, and growth like never before in multiple industries. In this paper, we will walk through how AI will change the face of technology, its applications, benefits, challenges, and future trends. Read to continue..

[powerexec]

Cash Advances and Loans for Gig Workers No Credit Check

Overcoming Financial Challenges: A Comprehensive Guide to Securing Loans and Cash Advances for Gig Workers and Self-Employed Individuals Introduction The gig economy has revolutionized the way we work, offering flexibility and autonomy to pursue our passions and entrepreneurial dreams. However, gig workers and self-employed individuals often face unique challenges when seeking financial…

[fastlane-freedom]

The World of Artificial Intelligence: Applications, Challenges, Future Trends

Artificial Intelligence (AI) is a field of computer science and engineering that deals with the creation of intelligent machines that work and behave like humans. These machines are programmed to learn from experience, adapt to new situations, and make decisions based on data and algorithms. AI has become one of the most important technological breakthroughs of the 21st century, transforming the…

[scoobydoodean]

[champstorymedia]

The Rise of Women in Tech: How Female Innovators are Changing the Game

Introduction In the dynamic and ever-evolving landscape of technology, the contributions of women have been increasingly making a mark. Female innovators are breaking barriers, shattering stereotypes, and revolutionizing the tech industry with their creativity, skills, and determination. This article explores the rise of women in tech and how they are changing the game. Changing the Face of…

[artisticdivasworld]

August Trucking News: A Mixed Bag for Owner-Operators

As we wrap up August, it’s been a rollercoaster month for owner-operators in the trucking industry. Here’s a rundown of ten key news stories that have made an impact, both positively and negatively. Credit: AFTdispatch.com Freight Market Struggles Continue The ongoing freight recession has intensified, with a surplus of trucks on the road and a decline in e-commerce demand leading to lower…

[jcmarchi]

SPURS Fellowships offer time out to reflect, learn, and connect

New Post has been published on https://thedigitalinsider.com/spurs-fellowships-offer-time-out-to-reflect-learn-and-connect/

SPURS Fellowships offer time out to reflect, learn, and connect

Sixteen international mid-career urban planners and public administrators recently bid farewell to the MIT campus, having completed a 10-month exploration of North American education and culture designed to expand their professional networks and infuse their work with new insights as they return to influential positions in government agencies, private firms, and other organizations throughout the developing world.

Hailing from Argentina, Bhutan, China, Egypt, Honduras, India, Kosovo, Mexico, Nepal, Pakistan, Trinidad & Tobago, Yemen, and Zimbabwe, they comprise this year’s group of MIT Special Program for Urban and Regional Studies (SPURS) Fellows. Founded in the Department of Urban Studies and Planning in 1967, SPURS has drawn from 135 countries to host more than 750 mid-career individuals who are or will be shaping policy in their home countries. Along with admitting several fellows directly into SPURS, MIT has competed successfully to be among 13 U.S. universities that also host a larger group of fellows annually selected and funded by the U.S. Department of State’s Hubert H. Humphrey Fellowship Program.

Recipients of the Humphrey Fellowship have their travel to the United States, living expenses, and other costs fully financed by the U.S. State Department. Perhaps equally valuable — and some say unique among international fellowships — is a focus that frees all fellows to explore beyond classroom teachings to learn, and advance their professional development without the pressure of earning a degree.

“This is the best reward of my life, this year at MIT and Cambridge in general,” says Carina Arvizu-Machado of Mexico, former cities director for Mexico and Colombia at the World Resources Institute and Mexico’s former national deputy secretary of urban development and housing, who is sponsored by the Humphrey Fellowship. “I think this year of stepping back and stepping out of the active life that we have as professionals and being able to reflect, to learn, to exchange ideas — it’s very useful.”

Arvizu-Machado’s sentiments are echoed by many past and present fellows, says Bish Sanyal, MIT’s Ford International Professor of Urban Development and Planning and director of SPURS since 2004.

“The fellows mention that this one year has given them a real opportunity to reflect on what they have done in the past and what they are going to do in the future,” he says, adding that the value of developing professional networks with peers in other developing countries can’t be overstated. “Some have never met colleagues from another country before. The program provides the ideal setting to reflect on professional challenges, collectively, without political concerns which stifle frank deliberation in their home countries.”

While some SPURS Fellows might not be well-traveled before coming to MIT, they are nonetheless a uniformly “very highly motivated and politically powerful group,” Sanyal says — movers and shakers in their home countries in fields such as urban planning, economics, governance, and business development. Some notable alumni include the current managing director of the International Monetary Fund, a former CEO of the World Bank, former ambassadors to the United States from Colombia and Haiti, the corporate vice president of strategic programming of Banco de Desarrollo de América Latina or CAF (Latin America’s largest development bank), and a Nepalese Supreme Court justice.

“When the Ebola outbreak happened in Africa, the person who headed the Ebola response team in Liberia was a SPURS Fellow,” Sanyal says.

The benefits of having a such an accomplished and cosmopolitan group of people on campus flow both ways, says Allan Goodman, CEO of the Institute of International Education (IIE), which administers the Humphrey Fellowship for the state department.

“It really enriches MIT … and all the places that are participating,” Goodman says. “The undergraduate and graduate students interact with the fellows, and they wouldn’t ordinarily have that chance. You have a ready-made group of international consultants who are focused on the theme of your department.”

Each university participating in the Humphrey Fellowship program is assigned fellows based on a specific area of expertise. With SPURS housed within the Department of Urban Studies and Planning at MIT, the programmatic focus is on urban and regional planning. Sanyal remarks that this focus is deliberate and consistent regardless of whether fellows are sponsored by the U.S. Department of State or other agencies from the fellows’ home countries. One difference, however, is that Humphrey Fellows are required to be professionally affiliated for at least six weeks with U.S.-based organizations in their areas of work or interest — an engagement described as a cross between an internship and pro-bono consultancy that provides fellows the opportunity to develop professional relationships with U.S. practitioners.

Peter Moran, director of the Humphrey program at IIE, says the biggest value to fellows at MIT and other participating universities is the ability to step out of their past professional lives and reflect from a fresh perspective on their professional aspirations to serve their nations in an interconnected world. In the process, they also benefit from the relationships with other fellows and professional partnerships that last years after they return home.

“To say it broadens your perspective really undersells it,” he says. “The diversity of the fellows is remarkable. It’s a lot of the world … and we are putting them all around the table together.”

By continuing to put fellows from diverse corners of the world together for over 50 years, SPURS has sparked lasting partnerships between fellows, as well as among SPURS alumni, MIT faculty and students, and other professionals they encounter during their time in Cambridge.

Two factors are key to maintaining the high quality of the program, Sanyal says.

First, additional funding could strengthen the program, and, to that end, he envisions sponsoring financially sustainable relationships with over a dozen local, national, and international agencies as long-term partners.

The second challenge is to revise the program’s objective in a rapidly changing world. This is harder to surmount. When SPURS was established in 1967, Sanyal says, there was widely held public perception that the United States ought to look outward to help democratic nations of the world.

“I think the challenge now is that many countries, including the U.S., are looking inward,” Sanyal says, adding that this inward turn increases the importance that SPURS develops a diverse portfolio of funding sources.

As Arvizu-Machado prepared to return to Mexico this spring, she recounted myriad positive experiences enabled by her fellowship — from lectures she was invited to give and graduate courses she attended to practicing yoga with her undergraduate dorm mates.

“Most important, I think, is the people I’ve met,” she says. “This includes, foremost, the other fellows. They are just amazing people. They have become part of my family. But also, some of the faculty and the extended network which this fellowship allows you to have access to. I’m very grateful to be part of this program.”

One of Arvizu-Machado’s co-fellows, Tenzin Jamtsho, agrees that the opportunity for personal connections with other fellows as well as with faculty highly respected in their fields is the aspect of SPURS that will continue to resonate when he returns to his native Bhutan. Jamtsho, director of administration and finance at Bhutan’s Druk Gyalpo’s Institute (formerly the Royal Academy), who is sponsored by the Humphrey Fellowship, says he pursued the fellowship after colleagues at home told him it would be “life changing.” His actual experience at MIT affirmed this expectation.

Jamtsho says the MIT campus offers fellows a “free-flowing environment” for learning, with opportunities to take whatever classes they’re interested in. During his fellowship, Jamtsho says he came to appreciate different ways to approach challenges — viewing problems through a “systems lens,” which he calls “a valuable skill that I am taking back home.”

Also returning to Bhutan with Jamtsho are some less-tangible aspects of his time at MIT.

“I’ve been fortunate to interact with people who are very intelligent and passionate,” he says. “What I’m going to take home is the kindness and humility of these people.”

[techtoio]

The Impact of Big Data Analytics on Business Decisions

Introduction

Big data analytics has transformed the way of doing business, deciding, and strategizing for future actions. One can harness vast reams of data to extract insights that were otherwise unimaginable for increasing the efficiency, customer satisfaction, and overall profitability of a venture. We steer into an in-depth view of how big data analytics is equipping business decisions, its benefits, and some future trends shaping up in this dynamic field in this article. Read to continue

[mostlysignssomeportents]

The CFPB is genuinely making America better, and they're going HARD

On June 20, I'm keynoting the LOCUS AWARDS in OAKLAND.

Let's take a sec here and notice something genuinely great happening in the US government: the Consumer Finance Protection Bureau's stunning, unbroken streak of major, muscular victories over the forces of corporate corruption, with the backing of the Supreme Court (yes, that Supreme Court), and which is only speeding up!

A little background. The CFPB was created in 2010. It was Elizabeth Warren's brainchild, an institution that was supposed to regulate finance from the perspective of the American public, not the American finance sector. Rather than fighting to "stabilize" the financial sector (the mission that led to Obama taking his advisor Timothy Geithner's advice to permit the foreclosure crisis to continue in order to "foam the runways" for the banks), the Bureau would fight to defend us from bankers.

The CFPB got off to a rocky start, with challenges to the unique system of long-term leadership appointments meant to depoliticize the office, as well as the sudden resignation of its inaugural boss, who broke his promise to see his term through in order to launch an unsuccessful bid for political office.

But after the 2020 election, the Bureau came into its own, when Biden poached Rohit Chopra from the FTC and put him in charge. Chopra went on a tear, taking on landlords who violated the covid eviction moratorium:

https://pluralistic.net/2021/04/20/euthanize-rentier-enablers/#cfpb

Then banning payday lenders' scummiest tactics:

https://pluralistic.net/2022/01/29/planned-obsolescence/#academic-fraud

Then striking at one of fintech's most predatory grifts, the "earned wage access" hustle:

https://pluralistic.net/2023/05/01/usury/#tech-exceptionalism

Then closing the loophole that let credit reporting bureaus (like Equifax, who doxed every single American in a spectacular 2019 breach) avoid regulation by creating data brokerage divisions and claiming they weren't part of the regulated activity of credit reporting:

https://pluralistic.net/2023/08/16/the-second-best-time-is-now/#the-point-of-a-system-is-what-it-does

Chopra went on to promise to ban data-brokers altogether:

https://pluralistic.net/2024/04/13/goulash/#material-misstatement

Then he banned comparison shopping sites where you go to find the best bank accounts and credit cards from accepting bribes and putting more expensive options at the top of the list. Instead, he's requiring banks to send the CFPB regular, accurate lists of all their charges, and standing up a federal operated comparison shopping site that gives only accurate and honest rankings. Finally, he's made an interoperability rule requiring banks to let you transfer to another institution with one click, just like you change phone carriers. That means you can search an honest site to find the best deal on your banking, and then, with a single click, transfer your accounts, your account history, your payees, and all your other banking data to that new bank:

https://pluralistic.net/2023/10/21/let-my-dollars-go/#personal-financial-data-rights

Somewhere in there, big business got scared. They cooked up a legal theory declaring the CFPB's funding mechanism to be unconstitutional and got the case fast-tracked to the Supreme Court, in a bid to put Chopra and the CFPB permanently out of business. Instead, the Supremes – these Supremes! – upheld the CFPB's funding mechanism in a 7-2 ruling:

https://www.scotusblog.com/2024/05/supreme-court-lets-cfpb-funding-stand/

That ruling was a starter pistol for Chopra and the Bureau. Maybe it seemed like they were taking big swings before, but it turns out all that was just a warmup. Last week on The American Prospect, Robert Kuttner rounded up all the stuff the Bureau is kicking off:

https://prospect.org/blogs-and-newsletters/tap/2024-06-07-window-on-corporate-deceptions/

First: regulating Buy Now, Pay Later companies (think: Klarna) as credit-card companies, with all the requirements for disclosure and interest rate caps dictated by the Truth In Lending Act:

https://www.skadden.com/insights/publications/2024/06/cfpb-applies-credit-card-rules

Next: creating a registry of habitual corporate criminals. This rogues gallery will make it harder for other agencies – like the DOJ – and state Attorneys General to offer bullshit "delayed prosecution agreements" to companies that compulsively rip us off:

https://www.consumerfinance.gov/about-us/newsroom/cfpb-creates-registry-to-detect-corporate-repeat-offenders/

Then there's the rule against "fine print deception" – which is when the fine print in a contract lies to you about your rights, like when a mortgage lender forces you waive a right you can't actually waive, or car lenders that make you waive your bankruptcy rights, which, again, you can't waive:

https://www.consumerfinance.gov/about-us/newsroom/cfpb-warns-against-deception-in-contract-fine-print/

As Kuttner writes, the common thread running through all these orders is that they ban deceptive practices – they make it illegal for companies to steal from us by lying to us. Especially in these dying days of class action suits – rapidly becoming obsolete thanks to "mandatory arbitration waivers" that make you sign away your right to join a class action – agencies like the CFPB are our only hope of punishing companies that lie to us to steal from us.

There's a lot of bad stuff going on in the world right now, and much of it – including an active genocide – is coming from the Biden White House.

But there are people in the Biden Administration who care about the American people and who are effective and committed fighters who have our back. What's more, they're winning. That doesn't make all the bad news go away, but sometimes it feels good to take a moment and take the W.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/06/10/getting-things-done/#deliverism