The Informal Job Market - And Why It Matters.
Michael Ellsberg is the author of The Education of Millionaires: It’s Not What You Think, and It’s Not Too Late, out Sep. 29th, 2011 from Penguin/Portfolio, and The Power of Eye Contact: Your Secret For Success in Business, Love and Life, from HarperCollins. He also writes a blog on entrepreneurialism, career development, and education at Forbes.com.
The Education of Millionaires is a bootstrapper’s guide to investing in your own human capital. Ellsberg interviewed some of the most successful people on the planet who didn’t complete college and who educated themselves in the real world, to deconstruct their secrets and create a “Syllabus for a Successful Life” based on what he learned from them.
The book features interviews with self-educated billionaires Phillip Ruffin and John Paul DeJoria, Facebook co-founders Dustin Moskovitz and Sean Parker, WordPress creator Matt Mullenweg, fashion designer Marc Ecko, Pink Floyd lead guitarist David Gilmour, and marketing experts Eben Pagan, Frank Kern and Joe Polish. It also features the insights of experts including Seth Godin, “Rich Dad” Robert Kiyosaki, and PayPal co-founder and Facebook angel investor, billionaire Peter Thiel.
The Education of Millionaires has been sold into Korea pre-release, and The Power of Eye Contact has been sold into China, Russia, France, Korea, Vietnam, Poland, the Czech Republic, and Brazil. The latter was featured in the Washington Post, and on Tim Ferriss’s Four-Hour Workweek blog.
Ellsberg is the creator of Eye Gazing Parties, a series of social events based on eye contact which attracted feature press coverage from the New York Times, Associated Press TV, CBS News, CNN, Good Morning America, MSNBC, Regis & Kelly, Current TV, Yoga Journal, the San Francisco Chronicle, San Francisco magazine, the BBC, the Times of London, Match.com, Nerve.com, Agence Press France, German and Canadian national television, and in Tim Ferriss’s #1 New York Times andWall Street Journal bestseller The Four-Hour Workweek. Elle magazine called Eye Gazing Parties “New York’s hottest dating trend.”
Ellsberg collaborated with Dr. Marc Gerstein on Flirting With Disaster: Why Accidents Are Rarely Accidental, which was reviewed in the Wall Street Journal. Ellsberg’s work has also been featured in the Harvard Business Review online and on Digital Book World.
Ellsberg was born in San Francisco i
Michael Ellsberg: There is something called the informal job market versus the formal job market. The formal job market is the one you hear about where you see job ads and it says—usually it will say “Bachelor’s required; Master’s degree preferred.” So you see that and you think, “Oh well, I need a Bachelor’s degree to get a job.” Well, that is happening on what is called the formal job market, which is really only about 20% of hiring.
Most people who track this believe that about 80% of hiring happens on what is called the informal job market, which is essentially . . . somebody knows somebody, the boss needs a position filled, they ask their employees who would be good to fill this position, and the employees have referrals. And in that vastly larger informal market, traditional
credentials are much, much less important than who you know, and usually the notion of job requirements is highly negotiable. If you know somebody who knows somebody who works in an organization that is hiring, you can get a referral and it doesn’t really matter what your GPA was or how you did on your tests or your credentials. What matters is that you have a great resume of results that you have gotten in the real world and that you’re a good networker, that you know people.
So I would say to young people, the things you should really be focusing on are learning how to become a great networker. That, to me, is the number one skill, and of course also learning the skills of the area that you want to do business in, to have a career in, which you’re unlikely to learn in college.
Directed / Produced by
Jonathan Fowler & Elizabeth Rodd
80% of hiring happens on the informal job market, says Michael Ellsberg. His advice for job-seekers? Network, network, network.
The controversial herbicide is everywhere, apparently.
- U.S. PIRG tested 20 beers and wines, including organics, and found Roundup's active ingredient in almost all of them.
- A jury on August 2018 awarded a non-Hodgkin's lymphoma victim $289 million in Roundup damages.
- Bayer/Monsanto says Roundup is totally safe. Others disagree.
Can dirt help us fight off stress? Groundbreaking new research shows how.
- New research identifies a bacterium that helps block anxiety.
- Scientists say this can lead to drugs for first responders and soldiers, preventing PTSD and other mental issues.
- The finding builds on the hygiene hypothesis, first proposed in 1989.
Are modern societies trying too hard to be clean, at the detriment to public health? Scientists discovered that a microorganism living in dirt can actually be good for us, potentially helping the body to fight off stress. Harnessing its powers can lead to a "stress vaccine".
Researchers at the University of Colorado Boulder found that the fatty 10(Z)-hexadecenoic acid from the soil-residing bacterium Mycobacterium vaccae aids immune cells in blocking pathways that increase inflammation and the ability to combat stress.
The study's senior author and Integrative Physiology Professor Christopher Lowry described this fat as "one of the main ingredients" in the "special sauce" that causes the beneficial effects of the bacterium.
The finding goes hand in hand with the "hygiene hypothesis," initially proposed in 1989 by the British scientist David Strachan. He maintained that our generally sterile modern world prevents children from being exposed to certain microorganisms, resulting in compromised immune systems and greater incidences of asthma and allergies.
Contemporary research fine-tuned the hypothesis, finding that not interacting with so-called "old friends" or helpful microbes in the soil and the environment, rather than the ones that cause illnesses, is what's detrimental. In particular, our mental health could be at stake.
"The idea is that as humans have moved away from farms and an agricultural or hunter-gatherer existence into cities, we have lost contact with organisms that served to regulate our immune system and suppress inappropriate inflammation," explained Lowry. "That has put us at higher risk for inflammatory disease and stress-related psychiatric disorders."
University of Colorado Boulder
This is not the first study on the subject from Lowry, who published previous work showing the connection between being exposed to healthy bacteria and mental health. He found that being raised with animals and dust in a rural environment helps children develop more stress-proof immune systems. Such kids were also likely to be less at risk for mental illnesses than people living in the city without pets.
Lowry's other work also pointed out that the soil-based bacterium Mycobacterium vaccae acts like an antidepressant when injected into rodents. It alters their behavior and has lasting anti-inflammatory effects on the brain, according to the press release from the University of Colorado Boulder. Prolonged inflammation can lead to such stress-related disorders as PTSD.
The new study from Lowry and his team identified why that worked by pinpointing the specific fatty acid responsible. They showed that when the 10(Z)-hexadecenoic acid gets into cells, it works like a lock, attaching itself to the peroxisome proliferator-activated receptor (PPAR). This allows it to block a number of key pathways responsible for inflammation. Pre-treating the cells with the acid (or lipid) made them withstand inflammation better.
Lowry thinks this understanding can lead to creating a "stress vaccine" that can be given to people in high-stress jobs, like first responders or soldiers. The vaccine can prevent the psychological effects of stress.
What's more, this friendly bacterium is not the only potentially helpful organism we can find in soil.
"This is just one strain of one species of one type of bacterium that is found in the soil but there are millions of other strains in soils," said Lowry. "We are just beginning to see the tip of the iceberg in terms of identifying the mechanisms through which they have evolved to keep us healthy. It should inspire awe in all of us."
Check out the study published in the journal Psychopharmacology.
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