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What People Miss About ‘Quiet Quitting’

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What People Miss About ‘Quiet Quitting’

‘Quiet quitting’ has been trending on TikTok. Managers are mad, but the ability to fulfill your day job while also having leftover energy for a side hustle is a key lever in financial independence (FI) culture.

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(This article was originally published in NextIdea, our weekly newsletter on side hustles and pursuing financial independence. Sign up for it using the box below.)

Weekly commentary for quiet quitters and loud doers alike on the state of side hustles, passive income, and pursuing financial independence.

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When the phrase “quiet quitting” burst onto the scene earlier this summer, everyone had an opinion.

“I’m not going to go extra,” noted one Generation Z employee in an interview with the Wall Street Journal, which reported on the story about a month after the term began trending on TikTok. In case you need a refresher: quiet quitting is a buzzy new phrase that young people began using on social media to indicate their plans to do the bare minimum at work.

Quiet quitting is an anti-hustle sentiment in which workers are less willing to go above and beyond for a promotion or a raise. The strategy isn’t new, but the fresh moniker has given the approach more visibility and generated lots of conversation on what a successful career looks like in our modern world. For some, the movement shines a lot on the rat race that is our modern-day workforce. Others say that quiet quitting slashes your earning potential by leaving a stable job or being unwilling to work your way up the ranks in your industry.

@scottseiss #fyp #work #bgcdramaeffect #quietquitting ♬ original sound – Scott Seiss
@weekdayremedy #quietquitting #careeradvice #careertok ♬ original sound – Emily Smith

Some managers are mad. But when it comes down to it, quiet quitting is about setting boundaries with your time and your attention, and you’re going to need bionic boundaries to get your financial independence (FI) aspirations off the ground.

In order to start pursuing your FIRE (Financial Independence, Retire Early) goals, you need bandwidth. You need to calculate your FIRE number and take a good hard look at your spending. You probably will need more income streams. And you need to know the basics of investing to ensure your excess income is pulling its weight for you in the form of passive income and compound interest.

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FIRE experts agree that preserving mental bandwidth for other income-generating efforts is a good idea. “Instead of pouring every ounce of extra energy and time into your career in the hopes of a promotion, focus on building streams of income that you enjoy doing that live outside of your day job,” says Kiersten Saunders of Rich and Regular. Perhaps a more civil interpretation of quiet quitting is that setting boundaries at work will free up energy to cultivate your financial failsafe, rather than focus only on one career ladder that could unexpectedly topple without warning.

@managermethod #quietquitting #worktok #hrtiktok #pov #worklife #workstress #corporate #hrtok #whattosay ♬ original sound – Manager Method
@corporatedropout_mom Thought I would provide a hot take on quiet quitting by generation 🤣 #corporatetok #corporatemillennial #xennial #boomer #genz #millennialsatwork #corporatehumor #quietquitting #workjokes #worktok #9to5life #workproblemsbelike #quietquit ♬ original sound – Corporate Dropout

Diversify Your Career

Here’s an example to get you inspired.

As a dentist, Jake Andersen loved helping people. But he didn’t love the parts of the job where he would be on the phone with insurance companies all day long, and he knew he didn’t want to scale. (He also has student loans — to the tune of $420,000.) Instead, Andersen and his wife hatched a side hustle: a business called Whake Studios that makes ‘bucket list boards’ using a 3D printer. The small business success has helped him downshift his dentistry to two days a week and map out a payoff plan while also raising a toddler; he says a portfolio career has greatly improved his worklife balance.

Read his story here: This Dentist’s Side Hustle Makes $10K/Month, But Not One Penny Goes Toward Extra Payments on his $420,000 Student Loan. Here’s Why

Start looking at your money today, and figure out what habits or mindsets you need to “quiet quit” in order to steer yourself in the direction of financial independence.

Weekly commentary for quiet quitters and loud doers alike on the state of side hustles, passive income, and pursuing financial independence.

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ICOs

Kim Kardashian to pay SEC $1.26M for promoting EMAX security token

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Kim Kardashian to pay SEC $1.26M for promoting EMAX security token

Kim Kardashian to pay SEC $1.26M for promoting EMAX security token Christian Nwobodo · 3 hours ago · 1 min read

Kardashian has agreed to pay up the $1.26 million charge and will refrain from promoting any crypto securities token over the next three years.

1 min read

Updated: October 3, 2022 at 3:19 pm

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Cover art/illustration via CryptoSlate

American Celebrity Kim Kardashian has agreed to pay $1.26 million to the U.S. Securities and Exchange Commission (SEC) in settlement of claims that she promoted the sale of unregistered securities token EMAX.

According to the SEC, Kardashian was paid $250,000 by EthereumMAX to promote the EMAX token to her Instagram followers (now over 330 million).

As per securities law, any celebrity who promotes a crypto asset must disclose how much they received for the promotion.

“Investors are entitled to know whether the publicity of security is unbiased, and Ms. Kardashian failed to disclose this information.” said SEC Director Gurbir Grewal

Consequently, the SEC has asked Kardashian to pay back $260,000 received for her promotion and an additional $1 million for violating securities laws.

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Kardashian has agreed to pay up the $1.26 million and will refrain from promoting any crypto securities token over the next three years.

SEC chairman Gary Gensler advised investors not to make their investment decisions based solely on promotions by influencers.

“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto-asset securities, it doesn’t mean that those investment products are right for all investors.”

Gensler added:

“Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities.” 

The SEC has an ongoing case against another influencer Ian Balina, who allegedly promoted unregistered SPRK securities tokens to his social media followers in 2018.

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adoption

MicroStrategy seeks to hire Bitcoin Lightning Software Engineer

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MicroStrategy seeks to hire Bitcoin Lightning Software Engineer

MicroStrategy seeks to hire Bitcoin Lightning Software Engineer Christian Nwobodo · 6 mins ago · 1 min read

The software engineer will work with the team to build out its Lightning Network-based Software-as-a-Service (SaaS) platform.

1 min read

Updated: September 30, 2022 at 5:50 pm

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Cover art/illustration via CryptoSlate

Michael Saylor-led MicroStrategy is looking to expand its Bitcoin Lightning Dev team by hiring a new software engineer.

MicroStrategy’s R&D team has been working to develop a suite of Lightning solutions, including Lightning wallet, enterprise servers, and enterprise authentication.

According to the job posting, the software engineer will work with the team to build out its Lightning Network-based Software-as-a-Service (SaaS) platform.

The Lightning solution will help enterprises manage data for thousands of employees, combat cyber-security challenges, and enable new eCommerce use cases.

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Expectedly, the ideal Engineer should have experience building on the Bitcoin blockchain as well as contributing to Bitcoin Core and other open-source projects.

MicroStrategy’s Chairman Michael Saylor earlier mentioned that once the Lightning infrastructure rolls out, it will bring Bitcoin adoption to over 10 million customers.

Saylor bullish on Lightning network

As a vocal Bitcoin Maximalist, Saylor has argued that the Bitcoin Lightning Network is the most important technology being developed in the world of technology.

According to Saylor, Lightning Network helps developers get the best from highly scalable dApps while leveraging the trusted security of the underlying Bitcoin layer.

‘The ethos of bitcoin is to go very carefully and not move fast on the base layer without the universal consensus, but in Lightning, you can move much more aggressively developing functionality and take more risks with the applications than you can with the underlying Bitcoin layer.

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Analysis

ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects

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ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects

ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects Oluwapelumi Adejumo · 7 hours ago · 2 min read

Lark continually claimed that he doesn’t get paid for his promotion of these projects despite being offered “truck loads of money daily to do so.”

2 min read

Updated: September 29, 2022 at 8:03 pm

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Cover art/illustration via CryptoSlate

Self-proclaimed on-chain sleuth ZachXBT alleged that popular crypto influencer Lark Davis made over $1 million while promoting low-cap crypto projects and dumping them on his followers in a Sept. 29 Twitter thread.

1/ An investigation into how crypto influencer @thecryptolark promotes low cap projects to his audience just to dump on them shortly after.

Let’s dive in. pic.twitter.com/gzTuGHNdvv

— ZachXBT (@zachxbt) September 29, 2022

ZachXBT cited eight instances where Lark promoted low-cap projects before dumping them on unsuspecting members of his community.

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The first case was in February 2021, when he promoted $UMB. According to ZachXBT, an address connected to Lark had received 62,500 UMB tokens and then dumped them almost immediately after his promotion, making a profit of $136,000.

Lark allegedly repeated this format for $DOWS on March 1, earning $56,000 after dumping the tokens he promoted hours earlier.

Lark allegedly shilled other tokens, including $SHOPX, $BMI, $PMON, $XED, and $APY. In all of these cases, he promoted the tokens immediately after they launched and then sold off the portion of the tokens he received for the promotion.

10/ On November 9, 2021 Lark Tweeted out he doubled his position in BMI.

While it is entirely possible he has an alt wallet from his main wallet it is clear he did not double his position from his main wallet.

(unfortunately can’t ask him since he blocked me months ago) pic.twitter.com/aTivN16rgd

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— ZachXBT (@zachxbt) September 29, 2022

In Larks’ promotion for $BMI, he tweeted that he had doubled his position in the token, but ZachXBT revealed that the crypto influencer’s main wallet did not show that he had done as he said.

Meanwhile, Lark continually claimed that he doesn’t get paid for his promotion of these projects despite being offered “truck loads of money daily to do so.”

ZachXBT also pointed out that all the projects Lark promoted had poor tokenomics. According to him, this is why they “went to zero before the bear market even began. Also no decent VCs really ever touch them.”

Lark Davis did not respond to CryptoSlate’s request for comment as of press time.

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The crypto sleuth added that there is no crime for an influencer to participate in seed rounds or talk about projects they liked as long as this is done in a transparent manner.

Lark is not the first crypto influencer ZachXBT had investigated and accused of dumping on his followers. Earlier in the year, the crypto investigator accused Logan Paul of promoting several pumps and dump schemes.

Popular crypto YouTuber Ben Armstrong, aka BitBoy Crypto, was recently accused of dumping on his followers by another YouTuber Atozy. BitBoy filed a defamation lawsuit against the accuser but later dropped the case after pressure from the crypto community.

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