Welcome to the Education Corner, A Daily Outsider Property Working to Help transform our Conversation About Our World: http://ordinaryfaces.business.site
Saturday, December 31, 2022
Notations From the Grid (Special Edition): Out & About w/ @BarackObama in 2022
Saturday, December 24, 2022
Monday, December 19, 2022
On Our "Virtual Route 66" This Week: As The Year Comes to a Close
Wednesday, December 14, 2022
Monday, December 12, 2022
On Our "Virtual Route 66" This Week: #RandomThoughts For the Week
Making the Case for Community College Baccalaureates
In this new brief, Debra Bragg and Tim Harmon explore the methods and results of a supply and demand analysis conducted in two Midwest states, Ohio and Illinois, to inform future decisions on Community Colleges Baccalaureate degrees.
Building Financial Structures to Support Community College Bachelor’s Degrees
A new brief by Ivy Love and Iris Palmer presents the trade-offs states must navigate when deciding how to most appropriately and effectively fund CCB programs.
Improving Language Access in Early Childhood Programs
Nicole Hsu highlights a recent report that explores language access policies in four major early childhood programs.
Who Will Be the Voice for ECE In Your State Government?
As governors consider their appointments for the term ahead, Elliot Regenstein explains why ECE advocates should articulate the importance of having ECE expertise in cabinet-level positions.
Principals Support Early Education Programs in Schools, But Need Support to Lead Them Effectively
Michael Little, Lora Cohen-Vogel, and Tim Drake highlight their findings from a recent survey of principals and assistant principals in North Carolina.
In one of the most watched videos on the Daily Stoic YouTube Channel this week, Ryan Holiday shares 100 things he’s learned from the book he’s read over 100 times: Marcus Aurelius’ Meditations. Ryan has put so many miles on various paperback and hardcover copies of Meditations that most of his copies are now held together by tape. So he decided to create a leather edition to stand the test of time (check it out here), which is one of the lessons from Marcus himself:
Watch the full video: 100 Things Ryan Holiday Learned From Marcus Aurelius’ Meditations
PODCAST TAKEAWAY OF THE WEEK:
In one of the most listened to episodes of the Daily Stoic podcast this week, Ryan Holiday speaks to Roman historian Josiah Osgood about his new book Uncommon Wrath: How Caesar and Cato’s Deadly Rivalry Destroyed the Roman Republic, the complicated legacy of Cato, what today’s leaders can learn from the Shakespearean virtues and vices of both Cato and Caesar, and the Stoic lesson embedded in Cato and Caesar’s fatal showdown:
Listen to the full episode: Josiah Osgood on the Long-Lasting Effects of Rivalry
WHAT RYAN HOLIDAY IS READING:
— Boyd: The Fighter Pilot Who Changed The World by Robert Coram
YOUR STOIC WEEKEND REMINDER:
Do everything as if it were the last thing you were doing in your life.
In the kitchen at Per Se, one of the best restaurants in the world, there is a sign. All it says is: A Sense of Urgency. That’s what a great chef, a great service staff, a great organization has. A great person needs it too.
Yet far too many of us lack this. In Meditations, Marcus Aurelius chides himself for acting as if he’s going to live forever, as if he has unlimited time. “You could be good today,” he writes, “instead you choose tomorrow.” He tells himself he needs to concentrate like a Roman and do the task in front of him as if it was the last thing he was doing in his life.
In short, he needs to attack everything with a sense of urgency. We all do.
(For more Stoic reminders to start your day with, watch this video!)
THIS WEEK'S BEST SOCIAL MEDIA POST:
EMAIL OF THE WEEK:
The Violence Of The Dog Days (Listen)
Friday, December 9, 2022
Wednesday, December 7, 2022
Friday, December 2, 2022
On Our Virtual Route 66 This Week (Special Friday Edition) : A Political History of Contemporary Iran
Monday, November 28, 2022
On Our "Virtual Route 66" (Final Month-End Edition): #RandomThoughts On Our World
For many Americans today, President John F. Kennedy’s assassination on November 22, 1963, represents a dramatic break from what came before. Lee Harvey Oswald’s bullets hacked a chasm between an idyllic Camelot and the chaos and division of the modern era.
Wednesday, November 23, 2022
On Our "Virtual Route 66" This Week (Special Thanksgiving Eve Edition)
As we go dark through Thanksgiving here in the United States, our world reached a milestone: 8 Billion People!!
We present the following #RandomThoughts on our World in line with the mission of our Education Property to present insights into our World. The following are courtesy the Visual Capitalist , Conbase & Robinhood.
Happy Thanksgiving to all!!!
Crypto winter has taken a harsh turn in the wake of FTX’s collapse. We’re breaking down what you need to know. [Image via Adam Chang]
Price changes are for the past week, ending on Nov 17, 2022 at 03:27 AM UTC
4 key questions about the impact of FTX’s collapse
Last Friday, the beleaguered crypto exchange FTX filed for bankruptcy after a stunning five-day collapse of the once-$32 billion dollar crypto empire. The company is now facing investigations in both the Bahamas and the U.S. for its handling of users’ assets.
FTX’s books revealed the exchange had more than $9 billion in liabilities, but less than $1 billion in liquid assets the day before its bankruptcy filing. And after an apparent hack drained $477 million of the company’s remaining assets on Friday night, customers are facing long odds of ever recovering much of their deposits. At least $1 billion in customer funds are unaccounted for, and FTX may owe as many as one million creditors.
As the business world tries to keep pace with this fast-moving story, we’re attempting to answer a few bigger picture questions about FTX’s collapse and its implications for the crypto industry. Let’s dive in.
How have crypto markets and businesses been affected?
- Crypto’s total market cap has dropped below the $1 trillion mark since FTX’s trouble started early last week, and sits near $826 billion as of Wednesday morning. After the firm’s Friday bankruptcy filing, BTC sank nearly 25%, dropping below $16,000, before slightly recovering; ETH fell by more than 30% in the same span.
- Market contagion and liquidity issues have spread to a growing number of crypto businesses, from lenders including Genesis Global Capital, BlockFi, and Voyager to web3 VCs like Paradigm, Ikigia, and Galois. On Wednesday, Genesis, a leading lender in the crypto industry, suspended redemptions, citing “extreme market dislocation … caused by the FTX implosion.” Last week, BlockFi halted withdrawals and cited “significant exposure to FTX.” They are now planning to file for bankruptcy. Voyager, a bankrupt lender that FTX had planned to purchase for $1.4 billion, no longer has a buyer, meaning its customers might not be able to recover funds.
- FTX’s collapse has also disrupted the Solana ecosystem. The exchange was heavily invested in SOL and many of Solana’s DeFi projects were also allegedly backed by FTX. The token lost more than 60% of its value in the week after rumors of FTX’s insolvency began.
Have larger investors and traditional firms been impacted?
- Since its founding in 2019, FTX raised nearly $2 billion in capital from sources like venture capital firms and pension funds, and its bankruptcy means that many of its investors will likely need to write their investments off as losses.
- SoftBank, Tiger Global, and Sequoia Capital are among the many well-known firms who made now-worthless bets on FTX. Last Wednesday, Sequoia sent a letter to investors that the firm was marking its $213 million stake down to $0.
- The impact isn’t limited to venture capital firms either — the Ontario Teachers Pension Fund lost $95 million investing in FTX’s funding rounds and athletes like tennis star Naomi Osaka and NFL quarterback Tom Brady are among the individuals who had equity stakes in the company.
What does this mean for the future of crypto regulation in the U.S.?
- In the wake of the exchange’s collapse, there has been a chorus of calls from business leaders and lawmakers regarding the need for greater oversight of the crypto industry. U.S. Congressman Patrick McHenry, the top Republican on the House Financial Services Committee, said last week: “It’s imperative that Congress establish a framework that ensures Americans have adequate protections while also allowing innovation to thrive here in the U.S.”
- Coinbase CEO Brian Armstrong noted in an op-ed for CNBC on Friday that the U.S.’s confusing array of existing regulations have failed to provide a workable framework for how crypto services “can be offered in a safe, transparent way.” As a result, users have been engaging with risky, offshore platforms like FTX that have little regulatory oversight and are largely outside the protection of U.S. regulators.
- The solution, said Armstrong, is to create smarter regulation that protects consumers and makes the U.S. a more attractive place for crypto companies to operate. “Those of us who care about the future of crypto want to create sensible regulation for centralized exchanges and custodians in the U.S. and other regions,” he said.
What should I know as a Coinbase customer?
Coinbase has a clear approach to transparency, risk management, and consumer protection, as outlined in a recent blog post by CFO Alesia Hass. Here’s the TLDR.
- Coinbase has very little exposure to FTX and our customers are not in any direct danger of liquidity or credit risk.
- There can never be a “run on the bank” at Coinbase because we hold all consumer assets 1:1, which can be reviewed in our publicly filed, audited financial statements.
- Coinbase is extremely well capitalized, with $5 billion in cash and cash equivalents.
- Our risk team has decades of experience managing trading and credit businesses across a range of economic cycles. Our prudent approach to risk management is part of how we keep customers safe.
Additional resources from around Coinbase
- There has been a surge in questions this week around how to safely and securely transfer assets to Coinbase. Here’s a guide to doing so. And if you’re looking for an alternative to import your self-custody wallet, check out Coinbase Wallet. You can import today following these steps and pay no gas fees along the way.
- Brian Armstrong will be hosting a Twitter Spaces with Ryan Selkis, co-founder and CEO of Messari, on Wednesday November 16 from 11am-12pm PT to talk about the FTX news and where we go from here. If you miss the chance to listen live, you can find a recording of this conversation through our Around the Block podcast on Thursday via Spotify or YouTube.
- Coinbase’s Institutional Research team has published a new report that looks at how the FTX bankruptcy could continue to impact the crypto industry.
How U.S. midterm election results could impact crypto regulations
According to a recent survey conducted by GMI PAC, a crypto-focused group, 44% of U.S. voters are “crypto voters,” which pollsters define as owning or considering owning digital assets. With the U.S. midterm results nearly settled, and calls for clear crypto regulation mounting in the wake of FTX’s collapse, a group of newly elected, and re-elected, politicians in Washington will likely play a pivotal role in shaping the regulatory conversation. Here’s a quick look at some of those politicians.
- Rep. Harriet Hageman: A newly elected Republican from Wyoming, a state that has taken a leading role in proposing crypto-friendly laws, Hageman is a proponent of limiting the federal government’s influence over parts of the industry, like mining operations. Crypto is “an important states’ rights issue,” she said over the summer. Sen. Cynthia Lummis (R-Wyo.), a vocal crypto advocate and co-author of the Responsible Financial Innovation Act, called Hageman “an excellent teammate” to have in Washington.
- Rep. Jonathan Jackson: An incoming Democrat from Illinois, Jackson was propelled to office in part due to a swath of donations from crypto-related political groups including Three PACs, DAO for America, Web3 Forward, and Protect Our Future. Jackson has said he supports regulations that promote innovation “and add clarity and protection for those entering this burgeoning arena.”
- The Congressional Blockchain Caucus: Several representatives in this bipartisan group won re-election, including chairs Tom Emmer (R-Minn.) and Bill Foster (D-Ill.), and caucus members Josh Gottheimer (D-N.J.), and Richie Torres (D-N.Y.) The congressional group says that it supports a “light touch regulatory approach” and is focused on blockchain technology applications like “identity management, asset tracking and ownership, healthcare records management, [and] intellectual property rights.”
Why it matters… As calls for regulatory clarity grow from business leaders and politicians alike, the 118th U.S. Congress will likely face increased pressure to formulate clear laws to guide the crypto industry in the U.S. A possible starting point? Three key bills proposed earlier this year are already awaiting congressional action in 2023.
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