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(BUSINESS) GameStop is the newest business in town to start capitalizing on the Metaverse by creating a corporate division for NFTs and cryptocurrency.
After all the ups and downs of GameStop stock this past year now they are pivoting into NFT’s and Cryptocurrency markets. What can we learn from this move?
If psychology has taught us anything it is that behavioral economics are a part of everyday choices and as an entrepreneur, these subjects should be understood as a basis for selling products, services, and ideas. Psychology Today defines behavioral economic theories as “used to explain most everyday decisions, such as what people buy, how they manage their finances, and whether or not they make healthy lifestyle choices.”
You might be wondering why this stuff matters with GameStop, but I’m here to tell you NFT’s are all about the flex of ownership.
According to Psychology Today, “A key prediction of behavioral economics is that ownership of something increases its value in the owner’s eyes.” In other words, if you buy something you inherently apply more value to it because YOU bought it. Applying behavioral economics makes sense considering that NFTs are fundamentally worthless. That is, until someone decides to spend their life savings on a jpeg that they can right click and save as to “own”. It sounds crazy until you examine the value of ownership placed on the housing market in Austin, Texas.
The more people that find value in a thing the more valuable it becomes. This move then should come as no surprise when, according to the Wall Street Journal, the marketplace, OpenSea, has raised $300 million in venture capital and is now valued at $13.3 billion. GameStop intends to open its virtual doors as an NFT marketplace later this year.  According to the Wall Street Journal, the gaming industry is expected to be among the first to infuse blockchain technology in order to incorporate cryptocurrency and NFTs. This idea is likely due to the fact that a handful of publicly-traded video game companies have launched or announced plans to sell NFTs. So, it’s not without merit, but what exactly would they be selling? Some are talking about virtual real estate as well as videogame collectibles. Having character-specific items such as a specific outfit or weapons are other ideas floating around. In today’s world where subscriptions rule, NFTs only help make uniqueness more effortless.
As an entrepreneur, it’s your job to understand the value you pass on to your clients. Not all of us will have the publicity that comes with the attempted populist movement that GameStop experienced, but we can all learn from their choice to reevaluate where they are headed in the future.
No one plans for the downfall of their company, but that’s a key takeaway here. In a worst-case scenario, how can your business veer in a new direction? The answers aren’t always crystal clear when imagining the future, but it’s always a good idea to consider options for other ways to persevere. What will you do if your supply chain is interrupted, customers stop coming in the door, or [insert disaster here]? preys on desperation, discrimination for referrals
Can you reasonably expect to be sued for roasting your job on Glassdoor?
Jessica Martin escaped from Texas to Austin to receive her degree in English from the University of Texas. When she isn’t writing, you can find her outside playing with her kids, camera in hand.
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(BUSINESS) As if scammy employee referral sites couldn’t get any worse, bribes people pay or fundraise for job referrals.
While it would be nice to never have to deal with awkward job interviews again, didn’t exactly create the innovation they thought they did! The site allowed job seekers to match with jobs, then get sponsored by former coworkers to “skip the interview” and be automatically hired. CEO Chris Evans (no, not that Chris Evans) claimed he created the website to prevent discrimination against candidates who do not interview well, but he created a pay-to-play system that all but guarantees discrimination.
Although the entire hiring process can be difficult for all parties involved, with many candidates fumbling with the interview portion, is not the solution.
The candidates can “crowdsource” money from former coworkers for them to skip the interview. The minimum donation is $50.
It is not a small sum of money that they expect candidates to raise, either.
You get to start as soon as you raise the funds, which, conceivably, could be never in many situations and the website doesn’t mention what happens to the funds if a candidate never reaches their crowdsourcing goal. If the candidate stays at the company for longer than two months, the sponsors get double their money, and if not, they lose everything.
Not only does this feed into an unfair pay-to-play system, but companies with toxic work environments can leverage social pressure (like not wanting to lose all your former coworkers’ money) to keep their employees there and slow down the turnover rate.
Job searching is never easy, and to make matters worse, many candidates are just trying to get in the door when their competition often has internal referrals or connections. feeds into the unfair advantages and exclusive clubs that certain, more well-off candidates are already a part of.
Below are some screen grabs from the old site, one of them asking for ELEVEN THOUSAND DOLLARS before a candidate could skip the interview and start working for a company as a full stack developer.
Many unemployed people, especially those who are unemployed for long periods, become desperate to find employment, and this website (along with others we’ve shared with you in the past) is preying on that desperation, especially since it conveniently launched when many people were out of work as a side effect of the devastating worldwide pandemic.

The good news? Twitter users got wind of this less-than-great idea and roasted Evans and his company so badly that he temporarily took his site down until he “spoke to many more people.”
Evans alluded to coming back after further research and development, however, he doesn’t appear to be back after changing his startup’s status from active to “only taking feedback” and “refining his pitch.” Though the site still appears when searched, it thankfully does not appear to be operational.
You can find more image captures of the site from Internet Archives here.

(BUSINESS NEWS) If you leave a nasty review of your former employer on Glassdoor, and share it across social media, can you be sued for a million dollars?
One of the more clearly understood parts of capitalism entails letting consumers decide based on their available choices, and – should their decisions have a negative impact on your business – living with the consequences. But when a former employee levies criticism that can inspire those same deleterious effects, the correct course of action becomes a bit less clear. This lack of clarity is what inspired LoanStreet, a New York fintech startup, to file a $1 million defamation lawsuit against a former employee who left a scathing Glassdoor review.
While the lawsuit has yet to lift off, it raises a serious question: Can you reasonably expect to be sued for roasting your old job?
Wyatt Troia, a software engineer who worked for LoanStreet, claims that he was fired after assessing another employee’s code and reporting some mistakes. He also refers to LoanStreet using disparaging terms (The Hustle quotes him as calling the company “a raging dumpster fire”) and alleges that he never received the $100,000 in equity that he was promised.
The Hustle also reports that Troia’s reviews were published on Reddit and Blind, with LoanStreet alleging that these reviews were made more visible to passersby courtesy of Google Ads for which Troia paid.
LoanStreet also maintains that Troia was fired for routine reasons (i.e., poor performance) and that his allegations are incorrect, setting the stage for their defamation lawsuit against him.
In the grand scheme of things, reviews such as Troia’s can have devastating implications for businesses – not just for their clients, but for prospective hires as well. The Hustle references this study in which a marketing firm found that up to a third of employees have turned down positions due to negative reviews.
But LoanStreet sets a dangerous precedent with this lawsuit, suggesting that employees who leave on poor terms cannot criticize the way they were treated in an online space without severe financial repercussions.
When faced with the option to critique (and possibly be fined heavily for it) or remain silent, most employees can’t afford to do anything but take the second choice.
It is worth noting that similar lawsuits have been thrown out in the past, with Glassdoor ducking a potential fine for refusing to remove negative reviews on account of Glassdoor simply being the intermediary rather than the author. While Troia is both the author of the offending posts and the target of the lawsuit in this case, he may benefit from Glassdoor’s record.

(BUSINESS) After losing 13 people to addiction-related deaths, DV8 Kitchen is a restaurant and bakery staffed 100% by recovering substance users.
The United States has been fighting a drug epidemic for decades. According to the CDC, the number of drug overdoses has significantly increased since 1999. From 2018 to 2019, even though heroin-involved death rates decreased by 6%, opioid-involved deaths increased by 6%, and synthetic opioid-involved deaths increased by 15%. Although the government keeps throwing money toward drug addiction and recovery, the problem doesn’t seem to be going away. After losing 13 people to addiction-related deaths, a Lexington, Kentucky restaurant decided to focus on giving employees a second chance. DV8 Kitchen is a restaurant and bakery staffed 100% by recovering substance users.
Second chance employment
According to its website, “DV8 Kitchen was developed and operates as a second chance employment opportunity for people who are trying to redirect their lives.  People in the early stages of substance abuse recovery often find it difficult to find employers willing to take a chance on them.” It’s working. The company opened a second location to give more people a chance to thrive. Other restaurants and employers can learn from them through training and modeling. DV8 Kitchen isn’t just changing recovering substance users, but they’re changing the restaurant industry by teaching those working in it how to combat addiction.
How big is the problem?
A recent report from the Substance Abuse and Mental Health Services Administration (SAMHSA) reveals that 20.4 million people aged 12 and older experienced substance use disorders in 2019. Another 2.1 million people in the U.S. suffered from an opioid use disorder related to prescription opioids. Employment is an important part of recovery. Studies show that individuals who are employed are less likely to have parole violations and criminal activity. There are higher rates of abstinence from substance abuse when a person is employed. Recovering addicts often face many hurdles in finding employment, from criminal history to scheduling conflicts with treatment, and poor work history. Being employed significantly contributes to a positive quality of life and helps individuals transition from addiction treatment back into the community.
Help those in recovery
Rob Perez, one of the founders of DV8 Kitchen, a 501c3 organization, says, “if every American business decides to hire one person that only wanted a job, but really needed it, we could make a massive difference in this country.”

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20 bullsh*t buzzwords that need to be banned from tech forever
How to work with someone who is always stressed (or is it you?)
4 things to remember when things look bad for you as an entrepreneur
Here’s why receiving big funding doesn’t guarantee startup success
Hustle culture glorification needs to stop
Positive self-talk can improve your performance
Don’t want to show your room on Zoom? How to change your background
5 questions to consider when deciding to buy or lease an office space
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