09/26 |#036| It All Makes Cents Now

Good morning and welcome back.

If during a quick scroll, you think “WTF” at the absence of Finance 101, fear not: it’s simply been rebranded as Making Cents.

Because that’s what it’s all about - helping you make the right money moves so that you can build wealth little by little.

Here’s what else we want to help with this week:

🤝 Understanding the Importance of Optimism.

🦾 Finding a Balance Between AI and Self-Generated Written Communication.

💡 Being Happier (thanks, Finland!)

➕ Much. More.

Experts’ Advice 🤝

Who is Adam Grant? 

• He’s an organizational psychologist who explores the science of motivation, generosity, original thinking, rethinking, and potential.

• He is the #1 New York Times bestselling author of 5 books (Think Again, Give and Take, Originals, Option B, and Power Moves) that have sold millions of copies.

Who is Brad Stulberg? 

• He researches, writes, and coaches on health, well-being, and sustainable excellence. He’s also the bestselling author of The Practice of Groundedness and co-author of Peak Performance.

• His work has been featured in the Wall Street Journal, Washington Post, Los Angeles Times, The New Yorker, Sports Illustrated, Outside Magazine, Forbes, and other outlets.

Hustle Hub 📈 

• THEIR SUCCESS: You know the app Midjourney? The AI-image generating machine that turns prompts into images? Check out this story about its founder, David Hol.

• YOUR SUCCESS: Want AI to build your website for you? Check out Charlie Chang’s (1M+ Sub’s on YouTube) 11 minute video for exactly that.

• THEIR SUCCESS: How Drock (that’s his alias) became a millionaire by 35 with a little guidance from his mother.

• YOUR SUCCESS: This study is meant to help employers better evaluate a candidate’s critical thinking skills. Use the insights to your advantage the next time you have a job interview.

Making Cents 🤑 

What the heck is a Tax Write Off?

Short & Sweet: It is an expense that lowers your taxable income on your tax return. This lowers the taxes you have to pay.

Why It Matters: Because paying less in taxes is always a good thing, especially now.

Here are some things that are eligible to be a tax write-off (plus a story from our favorite bot). We got you… 👇️ 

• Student Loan Interest Deduction: 

• Charitable Donation Deductions: 

• Deduction for State and Local Taxes:

Cool Communicator 😎 

Finding the Balance Between Natural and Artificial Intelligence:

A gem from Psychology Today talks about the presence of AI in programs that make reading and writing - essential communication skills - easier and more efficient.

1 MAIN TAKEAWAY from the article is that it’s important to find a balance between using those tools to enhance your productivity, and using your brain - and yours alone - to maintain personal growth.

“The human mind is still essential for creating meaning, and for cultivating it in others.”

So when it comes to writing, don’t settle into a purely passive role, making minor revisions to AI-generated text. Make sure that you still set time aside to play the role of creator.

Conversation Starters 🗣️ 

• SELF-INTEREST: Talk about how you can use these tips from the happiest country in the world to improve your life.
  

• HUMAN INTEREST: Talk about Pano Christou’s incredible 19-year-rise from assistant manager of a Pret a Manger to CEO of the company.

• ARTIFICIAL INTEREST: Talk about whether or not you buy the hype surrounding AI-generated subliminal messaging.

Major Moves 🗞️ 

 🧩 LEGO:

Latest green initiative turned out terrible for the environment.

We support any company who tries to do the right thing, and we respect any who can admit when they’re wrong. Today, that’s Lego and Lego: in 2021, they promised to sell toys made from recycled plastic, but after years of tests, they decided that “the carbon footprint would have been higher” pursuing this initiative.

They’re not giving up, though: the new target for sustainability is 2032.

 ✍️ pebble:

Another X competitor - will any of them pop?

Yet another Twitter - or X - competitor has arrived. Formerly called T2, this one changed its name to Pebble and raised $1.1 million in seed funding.

“They think if they can start small, grow gradually, build a good product, and foster a healthy community, they could have a real shot at being the platform that actually succeeds in claiming Twitter’s defectors.” Check out the full interview here.

 😨 RITEAID:

Without the right aid, this might be the pharmacy’s end.

Is this the end for RiteAid? “The company has proposed to close roughly 400 to 500 stores in bankruptcy, and either sell or let creditors take over remaining operations.”

Recently, we’ve seen multiple mega brands rise from near-death, so this might not be the end, but it’s not looking good for the pharmacy giant.

🐝 beehiiv:

OTF’s bee-loved platform is buzzing after this major move.

Beehiiv, which hosts this newsletter as well as many others, has acquired adtech startup Swapstack.

“The deal supports their effort to offer ads to their clients, making Beehiiv a more attractive platform for creators to use.” Big things are coming!

Food For Thought 💭