#2022 bank jobs

[six-of-ravens]

Oh, and another thing I learned the other day: apparently the point of raising the interest rates so much was to "discourage consumer buying" which is insane bc like, "we don't want people to buy things so we're going to raise the cost of living, and then complain when people aren't buying houses and can't afford rent or utilities" is horrible logic. But also I think Millennials and Gen Z have lived through too many harsh economic times for this to work. "I'll never be able to buy a house so I'll just keep buying my little treats" is a common mindset and, frankly, a justified one. Like yeah, the cost of takeout may have gone up a few bucks, but the cost of a house has gone up thousands of dollars. I'm no closer to buying a house than I was in 2020, and if my rent goes up another $250 next spring all the skipped lattes in the world won't help, so I'm still gonna get my little treat.

[phantomrose96]

If anyone wants to know why every tech company in the world right now is clamoring for AI like drowned rats scrabbling to board a ship, I decided to make a post to explain what's happening.

(Disclaimer to start: I'm a software engineer who's been employed full time since 2018. I am not a historian nor an overconfident Youtube essayist, so this post is my working knowledge of what I see around me and the logical bridges between pieces.)

Okay anyway. The explanation starts further back than what's going on now. I'm gonna start with the year 2000. The Dot Com Bubble just spectacularly burst. The model of "we get the users first, we learn how to profit off them later" went out in a no-money-having bang (remember this, it will be relevant later). A lot of money was lost. A lot of people ended up out of a job. A lot of startup companies went under. Investors left with a sour taste in their mouth and, in general, investment in the internet stayed pretty cooled for that decade. This was, in my opinion, very good for the internet as it was an era not suffocating under the grip of mega-corporation oligarchs and was, instead, filled with Club Penguin and I Can Haz Cheezburger websites.

Then around the 2010-2012 years, a few things happened. Interest rates got low, and then lower. Facebook got huge. The iPhone took off. And suddenly there was a huge new potential market of internet users and phone-havers, and the cheap money was available to start backing new tech startup companies trying to hop on this opportunity. Companies like Uber, Netflix, and Amazon either started in this time, or hit their ramp-up in these years by shifting focus to the internet and apps.

Now, every start-up tech company dreaming of being the next big thing has one thing in common: they need to start off by getting themselves massively in debt. Because before you can turn a profit you need to first spend money on employees and spend money on equipment and spend money on data centers and spend money on advertising and spend money on scale and and and

But also, everyone wants to be on the ship for The Next Big Thing that takes off to the moon.

So there is a mutual interest between new tech companies, and venture capitalists who are willing to invest $$$ into said new tech companies. Because if the venture capitalists can identify a prize pig and get in early, that money could come back to them 100-fold or 1,000-fold. In fact it hardly matters if they invest in 10 or 20 total bust projects along the way to find that unicorn.

But also, becoming profitable takes time. And that might mean being in debt for a long long time before that rocket ship takes off to make everyone onboard a gazzilionaire.

But luckily, for tech startup bros and venture capitalists, being in debt in the 2010's was cheap, and it only got cheaper between 2010 and 2020. If people could secure loans for ~3% or 4% annual interest, well then a $100,000 loan only really costs $3,000 of interest a year to keep afloat. And if inflation is higher than that or at least similar, you're still beating the system.

So from 2010 through early 2022, times were good for tech companies. Startups could take off with massive growth, showing massive potential for something, and venture capitalists would throw infinite money at them in the hopes of pegging just one winner who will take off. And supporting the struggling investments or the long-haulers remained pretty cheap to keep funding.

You hear constantly about "Such and such app has 10-bazillion users gained over the last 10 years and has never once been profitable", yet the thing keeps chugging along because the investors backing it aren't stressed about the immediate future, and are still banking on that "eventually" when it learns how to really monetize its users and turn that profit.

The pandemic in 2020 took a magnifying-glass-in-the-sun effect to this, as EVERYTHING was forcibly turned online which pumped a ton of money and workers into tech investment. Simultaneously, money got really REALLY cheap, bottoming out with historic lows for interest rates.

Then the tide changed with the massive inflation that struck late 2021. Because this all-gas no-brakes state of things was also contributing to off-the-rails inflation (along with your standard-fare greedflation and price gouging, given the extremely convenient excuses of pandemic hardships and supply chain issues). The federal reserve whipped out interest rate hikes to try to curb this huge inflation, which is like a fire extinguisher dousing and suffocating your really-cool, actively-on-fire party where everyone else is burning but you're in the pool. And then they did this more, and then more. And the financial climate followed suit. And suddenly money was not cheap anymore, and new loans became expensive, because loans that used to compound at 2% a year are now compounding at 7 or 8% which, in the language of compounding, is a HUGE difference. A $100,000 loan at a 2% interest rate, if not repaid a single cent in 10 years, accrues to $121,899. A $100,000 loan at an 8% interest rate, if not repaid a single cent in 10 years, more than doubles to $215,892.

Now it is scary and risky to throw money at "could eventually be profitable" tech companies. Now investors are watching companies burn through their current funding and, when the companies come back asking for more, investors are tightening their coin purses instead. The bill is coming due. The free money is drying up and companies are under compounding pressure to produce a profit for their waiting investors who are now done waiting.

You get enshittification. You get quality going down and price going up. You get "now that you're a captive audience here, we're forcing ads or we're forcing subscriptions on you." Don't get me wrong, the plan was ALWAYS to monetize the users. It's just that it's come earlier than expected, with way more feet-to-the-fire than these companies were expecting. ESPECIALLY with Wall Street as the other factor in funding (public) companies, where Wall Street exhibits roughly the same temperament as a baby screaming crying upset that it's soiled its own diaper (maybe that's too mean a comparison to babies), and now companies are being put through the wringer for anything LESS than infinite growth that Wall Street demands of them.

Internal to the tech industry, you get MASSIVE wide-spread layoffs. You get an industry that used to be easy to land multiple job offers shriveling up and leaving recent graduates in a desperately awful situation where no company is hiring and the market is flooded with laid-off workers trying to get back on their feet.

Because those coin-purse-clutching investors DO love virtue-signaling efforts from companies that say "See! We're not being frivolous with your money! We only spend on the essentials." And this is true even for MASSIVE, PROFITABLE companies, because those companies' value is based on the Rich Person Feeling Graph (their stock) rather than the literal profit money. A company making a genuine gazillion dollars a year still tears through layoffs and freezes hiring and removes the free batteries from the printer room (totally not speaking from experience, surely) because the investors LOVE when you cut costs and take away employee perks. The "beer on tap, ping pong table in the common area" era of tech is drying up. And we're still unionless.

Never mind that last part.

And then in early 2023, AI (more specifically, Chat-GPT which is OpenAI's Large Language Model creation) tears its way into the tech scene with a meteor's amount of momentum. Here's Microsoft's prize pig, which it invested heavily in and is galivanting around the pig-show with, to the desperate jealousy and rapture of every other tech company and investor wishing it had that pig. And for the first time since the interest rate hikes, investors have dollar signs in their eyes, both venture capital and Wall Street alike. They're willing to restart the hose of money (even with the new risk) because this feels big enough for them to take the risk.

Now all these companies, who were in varying stages of sweating as their bill came due, or wringing their hands as their stock prices tanked, see a single glorious gold-plated rocket up out of here, the likes of which haven't been seen since the free money days. It's their ticket to buy time, and buy investors, and say "see THIS is what will wring money forth, finally, we promise, just let us show you."

To be clear, AI is NOT profitable yet. It's a money-sink. Perhaps a money-black-hole. But everyone in the space is so wowed by it that there is a wide-spread and powerful conviction that it will become profitable and earn its keep. (Let's be real, half of that profit "potential" is the promise of automating away jobs of pesky employees who peskily cost money.) It's a tech-space industrial revolution that will automate away skilled jobs, and getting in on the ground floor is the absolute best thing you can do to get your pie slice's worth.

It's the thing that will win investors back. It's the thing that will get the investment money coming in again (or, get it second-hand if the company can be the PROVIDER of something needed for AI, which other companies with venture-back will pay handsomely for). It's the thing companies are terrified of missing out on, lest it leave them utterly irrelevant in a future where not having AI-integration is like not having a mobile phone app for your company or not having a website.

So I guess to reiterate on my earlier point:

Drowned rats. Swimming to the one ship in sight.

[jobsindia-governmentjobs]

ASSISTANT MANAGER IN IRDAI RECRUITMENT 2023

Latest all India job alert from IRDAI. The Insurance Regulatory and Development Authority of India published the most recent announcement for the hiring of Assistant Managers on April 11, 2023, through the Advt. No. HR/Recruitment/Apr/2023. On the website irdai.gov.in, eligible applicants can submit an online application for the IRDAI Assistant Manager Position 2023. The following information relates to the IRDAI Assistant Manager Recruitment 2023.

[mass-convergence]

Nothing travel related fazes me after the shit show that was Dallas.

Nothing.

[jobtamizhan]

AAI Recruitment 2022 53 Senior Assistant Vacancy

AAI Recruitment 2022 53 Senior Assistant Vacancy #jobtamizhan #govtjobs #governmentrecruitment #centralgovtjobs #tnpsc #upsc #ssc

AAI – Airports Authority of India Recruitment 2022 Inviting the Application for the Following Posts Senior Assistant. Totally 53 Vacancies are Available for This Job. Candidates Need to Apply Offline Via Posts for These Posts. the Work Location is All Over India, Central Government Official Release The Notification Interested and Eligible Candidate Please Must Check Full Notification Details,…

[rojgarkitalash]

Bank of Maharashtra Recruitment 2022

Bank of Maharashtra Recruitment 2022

Bank of Maharashtra Recruitment 2022: We Inform You On Behalf of Bank Job In India, The Bank Of Maharashtra has announced the official notification for the recruitment of Generalist Officiers In Scale-II and III Project 2023-2024. So Eligible Candidate can fill the online application form through the official notification www.bankofmaharashtra.in. All the details related to Bank Of Maharashtra…

[bestgovtjobworld]

NCL Recruitment 2022 | 405 Mining Sirdar & Surveyor Posts Recruitment Live Now.

NCL Recruitment 2022 | 405 Mining Sirdar & Surveyor Posts Recruitment Live Now.

NCL Recruitment 2022: Apply 405 Mining Sirdar & Surveyor Posts across India!! Northern Coalfields Ltd has advertised a notification for the recruitment of 405 Posts, Northern Coalfields Ltd has advertised a notification for the recruitment of 405 Posts Candidates who want to get Central Govt Jobs in MP State Kindly use this chance. It has now circulated a new notice…

[marilynngmesalo]

Trust Bank Limited Job Circular 2022 | স্নাতক পাসে চাকরি দেবে ট্রাস্ট ব্...

[probablyasocialecologist]

Activists are “shoplifting” from supermarket shelves and dumping the proceeds straight into the stores’ food bank bins in a “redistributive action” to protest the cost of living and the climate crisis.

[...]

“The reason we’re doing this is that supermarkets in this country have been raising their prices ahead of the rate of inflation, essentially stealing from ordinary people in order to line their packets with profits.

“We’re acting against this in order to deliver food and necessities to the people of the community that need it the most in the middle of the cost of living crisis.”

The activist is seen ripping the security tag off a tub of baby formula. He says: “This is a basic need for every family with babies and it’s £18 in Asda, which is an immense price tag. […] Supermarkets are prioritising their profits over the safety and health of families in the community.”

Xander Cloudsley, 29, a community food co-ordinator and member of This Is Rigged, the campaign group behind the actions, said: “In my job, I’ve seen the lived reality of the cost of living crisis […] while corporate giants like Tesco are boasting astonishing profits year in and year out. I’m taking action because this disparity is sickening and profoundly unfair.”

The protest comes as food bank usage – already prevalent following austerity – has surged alongside spiralling inflation.

Many supermarkets now have collection bins for food banks. In 2018, Sainsbury’s trialled dedicated shelf-edge labels alerting customers to items that food banks need. In 2022, Tesco gained positive media attention for launching a “reverse food bank” where shoppers could buy and donate goods.

Meanwhile, supermarkets have also been accused of driving inflation. Analysis from trade union Unite shows the top three supermarkets – Tesco, Sainsbury’s and Asda – have taken advantage of increased food costs and doubled their profits to £3.32bn in 2021, up 97% on 2019. Unite’s general secretary Sharon Graham has called this “greedflation” – something supermarket bosses deny.

Ironically, supermarket workers, often poorly paid themselves, are amongst those forced to turn to food banks. One supermarket worker accused Tesco of “forcing us to use food banks, while using food banks to look good.”

[kaile-hultner]

Help me dig upward: the Tumblr post

In which I talk a little bit about the hole I’ve been in for a hot minute—and what I want to do to dig out of it.

Hey y’all,

For the second time in a few years I’m starting a GoFundMe. This time, though, it’s not for the site, at least not explicitly. It is to help me get out from under the weight of debt that I’ve been carrying for more than a decade at this point, but which has finally gotten so bad that it’s affecting everything from my sleep patterns to my overall mental health and ability to do the thing that you likely already support me for: this website. 

If you’ve been wondering why the posting has decreased here, or reduced in quality, or why we started 2024 off publishing other writers and then just as suddenly stopped doing that again, this is why: I am out of money, I am in debt, and it feels like I’m living every day in pure, basic survival mode. 

This GFM, in which I’m asking for $10,000, is a moonshot, a Hail Mary. I don’t expect it to raise anything; it will be the last time I ask the Internet for money, whether it works or it doesn’t. If it works, obviously it’ll mean I’ll be able to post more and maybe my mental health will improve and I won’t feel like every moment is a countdown to a terrible ending, and I’ll be able to think of compelling angles to talk about video games again. If it doesn’t work, maybe I’ll figure something else out. Bankruptcy, probably. I don’t know. 

I hate doing this. I hate being in this position. I hate that I’ve already asked for money this year and people have been extremely generous and it just feels like all that generosity just went into a hole. I wish I had something to show for that generosity, or proactively for anything I gain from this campaign. So, if there is something you want me to cover or talk about or look at in exchange for your support on this campaign, just shoot me an email with proof of your donation, no matter how small. It’s kaile@noescapevg.com. I can’t promise I’ll write a bunch of magnum opuses at your request but I will do what I can just simply to show appreciation for your support. 

Anyway, this feels bad to me and I’m already starting to regret it, so I’m going to wrap this up by saying thank you in advance and I owe you my life. I wish that was figurative.

Edit: here is the text of the GFM I posted. 

Hi y’all,

My name is Kaile Hultner. I am an online cultural critic who has been running the video game criticism website No Escape since 2019. My work has been featured in other places like PC Gamer, Polygon and Bullet Points Monthly. And like a lot of people, I have been deeply in debt for years. 

Debt is a very strange phenomenon. As anthropologist David Graeber demonstrated in his book Debt: The First 5000 Years, it is a phenomenon that imparts a kind of moral valence on a person; whether or not that person can pay their debts is a sign of their trustworthiness or virtue as a member of polite society. Yet you can’t go without debt: at some point, at least in the United States, you have to pick up a form of debt – credit – to establish your credit score, without which you can’t rent an apartment, buy or lease a car, or, in some cases, even get a job. Being debt-free can harm this score, as can having a credit history that is “too young.” 

I’ve been in debt for a long time. I’ve been managing my debt for over a decade. Every year for the last six or seven years in particular it feels like I’m losing progressively more and more ground. Seven years ago I had a car; I could do things like deliver Uber Eats and DoorDash and make extra money whenever I ran out. It broke down in my driveway in 2022 and I couldn’t afford to take it to a mechanic to get it fixed. I sold it for $200. I haven’t been able to replace it. I don’t know what I’ll do if I ever need a car for anything. Luckily my day job is WFH. 

Recently, I’ve been fighting with my old bank over charges it erroneously applied to my account in excess of $1000, causing it to go deep into the negatives. I’ve been slowly, slowly digging myself out of that hole thanks to some close friends and some very kind folks who follow me on the Internet. But it’s caused other debts to exacerbate. And tonight I realized that I am at the end of my rope. I can’t do this anymore. I won’t sit here and say that I’ve done everything right; certainly, more than one bad decision made out of desperation has put me here. I won’t make excuses for that. But I’m tired of being here, in this position. I’m tired of waking up in the middle of the night with heart palpitations because I got an alert from my bank that I’m in the negatives. I’m tired of getting emails and phone calls from debt collectors. I’m tired of living in basic survival mode with no discernible path forward. I’m tired of being tired, of not having the energy to be creative and do the work I’ve built an online presence around for five years. And paradoxically, I’m tired of asking people on the internet for money. 

So I’m going to ask people on the internet for money, one final time. 

I’ve set the goal at $10,000. This is far more than I’m honestly expecting to get, but if I get even a fraction of that I could finally obliterate my debts in a meaningful way. I do have specific milestones that I basically need to meet, otherwise this GFM doesn’t hit its maximum effectiveness, but otherwise the sky is the limit. If I reach the whole amount… I don’t really know what I’ll do. Cry, maybe. 

Milestones – bolded are high-priority

Milestone reached! $750 – gets my old bank account out of the negatives. Eliminates one vector of harassment, allows me to close that account and move on. 

Milestone Reached! $1800 – does the above and allows me to fully pay any late or past-due loan payments missed as a result of the bank issue.

Milestone Reached! $6000 – does the above and allows me to fully pay off all installment loans 

$8000 – does the above and allows me to pay off any remaining debts. 

$10,000 – does the above and allows me to start saving. 

$10,000+ – basically a moonshot, I have no idea what I’ll do with extra. 

I fully do not expect you to donate to this. There are people trying to escape genocides, much more abject poverty, crushing medical debt, and so much more that feel – at least to me – so much more worthy of your attention and money. But just know that if you dodonate something, you have my undying appreciation. I will quite literally owe you my life. 

I’m going to post this now before I get too emotional or lose my nerve entirely, but again: thank you. Even if all you do is read this. 

—Kaile

[am-i-the-asshole-official]

WIBTA if I continued to use my mom’s card even though I have one of my own?

💳💳💳 <- to find later

When I (25F) was 15, my mom (55F) gave me a credit card with my own name that was attached to her bank account. This way, I wouldn’t have to carry cash around to places.

Since then, I’ve used that card when was buying someone a gift or when I hung out with my friends at the mall or doing any kind of shopping. I’ve always warned her beforehand what I was purchasing and at no point did I use it to purchase something I couldn’t afford (the most expensive purchase made with this card was a Nintendo Switch for my 18th birthday).

Ever since I got a job in late 2022, I have my own credit card that I use for essentials like bills and groceries, but I eventually use my mom’s card to buy treats like a book from my favorite author or a gift for a friends’ birthday or anything “unnecessary”.

I never felt any guilt towards this until a couple of months ago where I overheard a conversation between my mom and my aunt, where my mom said something along the lines of “when I retire, I’ll need to cut down living costs” and I couldn’t help but wonder if my purchases fit this into this category.

I then asked my mom if she felt I was spending too much money. She said that my purchases were all fine and that she would “figure things out” when it comes to cutting expenses from her life.

Even with this dismissal, I still feel guilty looking at the card. WIBTA if I continued using it?

[jobtamizhan]

AAVIN Kanyakumari Recruitment 2022 01 Veterinary Consultant Vacancy

AAVIN Kanyakumari Recruitment 2022 01 Veterinary Consultant Vacancy #govtjobs #upsc #ssc #currentaffairs #gk #ssccgl #ias #jobs #governmentjobs

AAVIN Kanyakumari Recruitment 2022 Apply 01 Veterinary Consultants Vacancies » Official Notification Released. Tamilnadu Government Official Release The Notification Interested & Eligible Candidate Please Must Check Full Notification Details , Education Details , Salary Details , Age Relaxation , Vacancies Details, Address Details Next Strat The Apply Process Eligible Candidate Apply Vacancies…

[indizombie]

Indian media's collapse has meant that serious issues such as unemployment do not get the attention they deserve. Joblessness is not framed as a question of political accountability but is couched in technocratic language and buried in a maze of data and conflicting claims. Those who intruded into parliament reportedly told the police they were upset about high rates of unemployment. Youth unemployment in India is at around a staggering 23 percent, the highest for any major global economy and nearly double that of neighbouring Pakistan and Bangladesh. For graduates under 25, a report by the Azim Premji University estimates, this number rises to 42 percent. IT firms such as Infosys, Tata Consultancy Services and Wipro have announced they will reduce the hiring of engineering graduates by 30 percent-reducing it by 40 percent from the prestigious Indian Institutes of Technology-leaving thousands of freshly graduated students without jobs. Since the onset of the 2022 funding winter, 34,785 employees have been laid off by just 121 Indian startups, with 15,247 of them fired by 69 Indian startups so far this year. An improvement is unlikely. Pranjul Bhandari, the chief India economist at Hongkong and Shanghai Banking Corporation, estimates that while India will need to create 70 million jobs over the next decade, it will only end up with 24 million. Put simply, India's demographic dividend has turned into a demographic disaster.

Sushant Singh, ‘Fire and Smoke’, Caravan