FTX process pressure launched when Sam Bankman-Fried seems in courtroom

Former FTX chief Sam Bankman-Fried (C) arrives to plead before U.S. District Judge Lewis Kaplan in federal court in Manhattan, New York January 3, 2023.

Ed Jones | AFP | Getty Images

The Manhattan U.S. Attorney’s Office said Tuesday it has established an FTX task force to track down and recover assets from victims of the cryptocurrency exchange collapse and conduct investigations and prosecutions related to the company and other businesses.

The announcement comes as Sam Bankman-Fried, founder and former CEO of FTX, appeared in U.S. District Court in Manhattan to plead not guilty to his criminal case in which he faces multiple counts of financial fraud and campaign finance crimes confess

“The Southern District of New York is working around the clock to respond to the FTX implosion,” Manhattan U.S. Attorney Damian Williams said in a statement.

“It’s a moment when all hands are on deck,” Williams added.

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“We are establishing the SDNY FTX Task Force to ensure this urgent work continues, supported by all of SDNY’s resources and expertise, until justice is done,” he said.

Williams chief deputy Andrea Griswold will lead the task force, which will consist of prosecutors from the securities and commodity fraud, public corruption, money laundering and transnational criminal corporations divisions.

The Securities and Exchange Commission has estimated that clients have lost more than $8 billion to fraud at FTX and Alameda Research, Bankman-Fried’s hedge fund.

When FTX filed for Chapter 11 bankruptcy protection in November, it claimed it had more than 100,000 creditors and liabilities ranging from $10 billion to $50 billion, compared to assets of an identical magnitude.

Bankman-Fried, 30, is at large but is under house arrest at his parents’ home on a $250 million personal acknowledgment bail set following his extradition from the Bahamas late last month.

Two of his lieutenants pleaded guilty to multiple counts of fraud in Manhattan federal court before he was extradited: Caroline Ellison, 28-year-old former CEO of Alameda, and FTX co-founder Gary Wang, 29.

Both Ellison and Wang are cooperating in investigating Bankman-Fried and related FTX matters.

The US data 100 million Covid circumstances, however greater than 200 million People have possible had it

The US recorded more than 100 million officially diagnosed and reported Covid-19 cases this week, but the number of Americans who have actually had the virus since the pandemic began is likely to have more than doubled.

Covid-19 has easily infected more than 200 million people in the US alone since the pandemic began – some people more than once. The virus continues to evolve into more transmissible variants that elude immunity from vaccination and previous infections, making controlling transmission incredibly difficult in the fourth year of the pandemic.

The United States officially recorded more than 100 million cases as of Tuesday, almost a third of the total population, according to the Centers for Disease Control and Prevention. The data isn’t perfect and likely vastly undercounts the true number of infections, scientists say. While it counts people who have tested positive more than once or been infected multiple times with Covid, it does not count the number of Covid patients who were asymptomatic and never tested or tested at home and did not report it.

dr Tom Frieden, former CDC director under the Obama administration, estimates that the reported data represents less than half the actual total.

“There have been at least 200 million infections in the US, so this is a small fraction of that,” Frieden said. “The question really is whether we are better prepared for Covid and other health threats in the future and the jury is out on that,” he said.

The CDC estimated last spring that nearly 187 million people in the United States had contracted Covid at least once as of February 2022, more than double the officially reported cases at the time. The estimate was based on a survey of commercial lab data that found about 58% of Americans had antibodies as a result of Covid infection. The survey did not take into account reinfections or antibodies from vaccinations.

The CDC subsequently registered more than 21 million confirmed cases from March to December 21 this year, although that’s an underestimate because people who use rapid tests at home aren’t included in the data.

The more than 21 million additional confirmed cases, on top of the CDC’s February estimate of about 187 million total infections, gives a lower estimate of more than 208 million infections since the pandemic began.

“It’s really hard to stop this virus, and that’s one of the reasons we’ve shifted the focus to hospitalizations and deaths rather than just counting cases,” said Jennifer Nuzzo, epidemiologist and director of the Pandemic Center at the Brown University School of Public Health.

The US has made significant strides since the darkest days of the pandemic. Deaths have fallen by about 90% since the pandemic peaked in January 2021, when more than 3,000 people succumbed to the virus every day before widespread vaccination. Daily hospitalizations are down 77% from a peak of more than 21,000 in January 2022 during the massive Omicron surge.

Despite these advances, deaths and hospitalizations remain stubbornly high given the widespread availability of vaccines and treatments. Around 400 people still die from the virus every day and around 5,000 are hospitalized every day. The virus is still circulating at levels that would have been considered high earlier in the pandemic, with an average of nearly 70,000 confirmed cases per day, a clear undernumber due to at-home testing.

More than a million people have died from Covid in the US since the pandemic began, more than in any other country in the world.

“I think people have gotten used to it,” Frieden said of Covid’s toll. “Covid is a new bad thing around us and it’s likely to be here for the long term. We don’t know how this will develop, whether it will become less virulent, more virulent – we have years that get better and worse. “

White House Medical Advisor Dr. Anthony Fauci, who is stepping down this month, said the US could consider the pandemic over if Covid hospitalizations and deaths return to levels similar to the flu burden.

For one thing, the two viruses circulate at high levels at the same time. From October to the first week of December, the flu killed 12,000 people, while Covid killed more than 27,000 during that period.

“We’re still in the middle of it — it’s not over yet,” Fauci told the Conversations on Health Care radio show in November. “400 deaths a day is not an acceptable level. We want to get it much lower.”

Frieden said 95% of people who die from Covid are not up to date on their vaccinations and 75% of people who would benefit from the antiviral Paxlovid are not getting it.

“We should celebrate these great tools that we have, but we’re not doing a good job of getting them into people and that would not only save lives but also reduce the impact of Covid,” he said.

dr Ashish Jha, the coordinator of the White House Covid task force, said people who are up to date with their vaccines and are treated if they have a breakthrough infection are at almost no risk at this point in the pandemic dying covid. Jha has particularly urged older Americans, who are more susceptible to serious illness, to get empowered so they have more protection during the holidays.

“There are still too many older Americans who haven’t updated their immunity and haven’t protected themselves,” Jha told reporters at the White House last week.

Michael Osterholm, a leading epidemiologist, said new Covid variants would pose the greatest threat to US progress in 2023.

In response to widespread social unrest in the fall, China eased its strict zero-Covid policy, which has been used to try to quell outbreaks of the virus. Infections in the country are now rising sharply, raising concerns that Covid now has even more room for mutation.

The virus has continued to mutate into increasingly transmissible versions of Omicron over the past year, while immunity from vaccination or previous infections has waned.

“We want to believe that after three years of activity, all the immunity we should have acquired either through vaccination or previous infection should protect us,” said Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota. “But with the immunity going down and the variants – we can’t say that.”

The publicity of Ginni Thomas is among the final nice acts of patriotism by the 1/6 Committee

The 1/6 Committee showed the spirit of Ginni Thomas by posting text messages that can be described as conspiratorial at best.

Thomas texted Mark Meadows:

Normal stuff pic.twitter.com/ixAjSBPzXB

— Aaron Rupar (@atrupar) January 2, 2023

Let’s take a deep breath and slowly read the text by Ginni Thomas. The wife of a sitting Supreme Court Justice claimed Biden, his family, journalists and others had been arrested and were being held on military ships outside of GITMO so they could be tried by a military court on sedition charges.

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The problem is that being deranged and believing conspiracy theories is not a crime.

Nothing Thomas wrote was true or based on reality. The only potential incitement committed was carried around by the likes of Ginni Thomas working to overthrow an election that Donald Trump lost.

Anyone who takes Ginni Thomas seriously in the media or propagates her as a ruler exposes himself and his prejudices. Ginni Thomas sounds like a dangerous weirdo. She is also a symbol of intellectual rot within the Republican Party.

GITMO ships and conspiracy theories have replaced intelligent and principled conservatism.

Intellectual root rot has engulfed the Republican Party. Donald Trump is the most toxic manifestation, but he is not the originator.

One of the most important acts the 1/6 Committee did for the nation was to go beyond investigating the attack on the Capitol to expose the dangerous anti-democratic, conspiratorial mentality of Ginni Thomas and other trailblazers involved in the attempted destruction of the Democracy for Trump were involved.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

Ex-NFL star accuses ‘racist’ boss of molesting him for intercourse

A former NFL star has accused the CEO of a New York-based Metaverse company of sexually harassing him and another black employee, alleging she used racial slurs, subjected him to bizarre pick-up lines and made indecent references to his sex life, two recent filings allege Complain .

Teyo Johnson — a former tight end for the Oakland Raiders — says Everyrealm CEO Janine Yorio created a toxic work environment, including a remark in which she threatened to “swap” Johnson if he didn’t comply with her requests, the New York Post reports.

Racism and sexual harassment lawsuit filed by former NFL star and former Everyrealm employee

The lawsuit, filed in federal court in Manhattan, named Yorio and Everyrealm as defendants, the latter of which has backers including Silicon Valley venture firm Andreessen Horowitz, which has celebrity backers including Paris Hilton, Will Smith and The Weeknd and more.

Johnson also claims he was pushed into “sexually harassing games” where colleagues and clients were encouraged to sleep together.

He claims Yorio told him about a “sex-related game that she had encouraged employees to play” during a business trip to the SXSW (South By Southwest) festival in Texas in March.

The lawsuit further states that “KYP”, an acronym for “know your personal” or “KYC” – “know your client” – are “euphemisms for sex or meeting with colleagues and business partners”.

DENVER – 2007: Denver Broncos’ Teyo Johnson poses for his 2007 NFL headshot at photo day in Denver, Colorado. (Photo by Getty Images)

White female CEO allegedly urged Johnson to sleep with co-workers, calling him a ‘stupid black person’

The female CEO, who is white, told Johnson that “the way to pay for the game” is “to get laid by a colleague on a business trip,” according to the lawsuit.

Johnson, whose job involved managing celebrity accounts, said Yorio reportedly asked him if “he would do KYP,” a comment that left him “stunned” by the proposal, before “politely letting her know that.” he’s really been ‘close to someone’.”

On the same night, the former NFL star claims Yorio “tested the waters” with him when he entered his hotel room and “in no uncertain terms indicated that she believed he was ‘cheating’ on his girlfriend “to play the company’s KYP game to participate”.

Johnson also claimed Yorio made offensive remarks about his girlfriend’s menstrual cycle, reportedly calling him a “stupid black guy” and “the whitest black guy.”

Yorio allegedly used other insults against Johnson, including “d***,” “big swinging d***,” and “f***ing d***,” the lawsuit says.

When the Post reached out to him for comment, a spokesman for Everyrealm called Johnson’s “lies” and tried to characterize him as an incompetent and lazy employee.

When two Web3 divas cross paths. @ParisHilton pic.twitter.com/Ea2hoJQNpu

— janineyorio (@janineyorio) March 16, 2022

“As we found in our court filings, this employee worked with the company for just three months and was terminated for poor performance, expense account abuse and falling asleep on the job,” the spokesman said in a statement.

Everyrealm denies allegations despite another similar lawsuit filed by a second former black employee

In her own lawsuit, Everyrealm also alleged that Johnson “openly and routinely belittled the mother of his child and demanded that Everyrealm pay a portion of his wages in cash to avoid garnishment for child support payments.”

The company added that it denied Johnson’s alleged request for cash.

“Johnson made various inappropriate comments at work about other women in his life, berated and referred to a junior employee, calling her a ‘beginner’ and refusing to meet her [Everyrealm co-founder Julia] Schwartz as ‘that bitch’ and Mrs. Yorio as ‘that crazy bitch,'” the company claimed in its filing.

However, Yorio faces similar allegations from another former black employee in a lawsuit filed last month.

Introducing our keynote speaker, Janine Yorio(@janineyorio), who will be speaking on a Gateway to the Metaverse at #KBW2022.

Janine Yorio is CEO of EVERYREALM(@everyrealm), one of the most active investors and developers in the Metaverse real estate ecosystem. pic.twitter.com/BitWesburt

— Korea Blockchain Week (@kbwofficial) July 4, 2022

Gatsby Frimpong, who previously worked as a product manager at Google, Microsoft, Apple and Cisco Systems, claims he was paid far less at Everyrealm when a white technical director was offered for nearly the same job.

Frimpong added that Yorio refused to consider him for a promotion after he allegedly turned down her sexual advances, reports The Post.

The company has described lawsuits as “extortionate,” while it is reportedly filing lawsuits of its own against the plaintiffs

Attempting to defend Yorio again, an Everyrealm spokesman told The Post: “These allegations are absurd. This former employee (Frimpong) worked remotely and Ms. Yorio only interacted with him a couple of times on video calls.”

“We will defend ourselves against his false allegations. These lawsuits are filled with false allegations by former employees seeking multimillion-dollar severance packages,” the company spokesman added. “Our company works hard to promote a supportive, inclusive workplace and we will continue to defend ourselves against these lawsuits.”

Everyrealm has reportedly filed its own lawsuits against Johnson and Frimpong — they are currently seeking to have the lawsuits dropped from litigation and submitted to arbitration.

The company also accused the plaintiffs of pursuing a $1.9 million “extortionate” settlement claim, according to The Post.

Retailers are gearing up for more durable occasions and extra thrifty prospects in 2023

A shopper browses shirts at the Old Navy children’s department in Denver, Colorado.

Brent Lewis | Denver Post | Getty Images

January is usually an overlooked month for retailers.

Buyers accept returns and exchanges. They come into stores with gift cards. And they can search for workout clothes or other items to make their New Year’s resolutions come true.

But this year, January brings higher stakes. The next few weeks, as many retailers close out their fiscal year, could help determine whether the holiday quarter is a win or a bust. It’s also an important time to help stores clear excess inventory. January could also set the tone for 2023 – when some economists and retail observers expect the US to slide into recession.

So far, pre-holiday results have been better than some economists and retailers feared. Sales rose 7.6% from Nov. 1 to Dec. 24, according to data from MasterCard SpendingPulse, which measures retail sales in-store and online across all payment types. The number includes restaurants and is not adjusted for inflation, which rose 7.1% in November from a year earlier.

However, there are signs that buyers may be running out of gas. Credit card balances have increased. The savings rate of private individuals has fallen. And sales of large items like jewelry and electronics have slowed.

Also, Americans’ spending spree in the earlier years of the pandemic, fueled by stimulus money, boredom and slack savings, has drawn harsh comparisons.

A crucial January

Retailers are heading into 2023 expecting store traffic to lag even during the peak weeks of the holiday season.

At six retailers — Walmart, Target, Best Buy, Nordstrom, Kohl’s and Macy’s — foot traffic fell by an average of 3.22% year over year in the weeks leading up to Christmas week, according to data from Placer.ai, distributed to analytics firms, which uses anonymized data from mobile devices to estimate total visits to sites. It also declined by nearly 5% compared to pre-pandemic patterns.

Now retailers are more nervous.

“It seems like many brands are anticipating a bigger hit in January,” said Stacey Widlitz, president of SW Retail Advisors, a consulting firm.

She’s noticed that more and more retailers are leaving gift cards hanging around to increase sales. For example, Urban Outfitterss-owned retail chain Anthropologie on Friday offered $50 off a future purchase for online shoppers spending $200 or more. But this bonus money must be used by January 31st when the company’s quarter ends.

Widlitz said these deals are focused on getting shoppers to shop at a time when there’s often a post-holiday lull. It’s also the last chance for retailers to sell excess inventory and start the new fiscal year in a cleaner position.

“It just seems like they’re trying to push people to go to the stores after the New Year,” she said.

But for some, a more budget-conscious consumer could be an opportunity.

At an earnings call last month, Walmart CEO Doug McMillon said he expects sales to surge as consumers feel overwhelmed by holiday spending. Like many other retailers, Walmart’s holiday quarter spans January.

“Sometimes those quarters work where late December and January get stronger when people are particularly price sensitive,” he said. “So that’s kind of what I’m expecting.”

The discounter has already attracted wealthier shoppers with its cheaper groceries and household items. Over the past two quarters, about 75% of grocery market share gains have come from households earning more than $100,000 per year.

And yet like competitors Goal and Costcohas had a more difficult time selling consumables, which tend to generate higher profits, than selling milk or paper towels.

What does the new year bring?

Economists are closely watching consumer indicators as the year begins.

On the plus side, said Michael Zdinak, economist at S&P Global Market Intelligence, unemployment is low and the job market is still very tight. There are signs that inflation has cooled, with prices rising less-than-expected in November, the latest month of available federal data.

On the other hand, he said food prices are still high, retail demand is weakening and savings are not as resilient.

The savings rate of private individuals has fallen significantly. According to the US Bureau of Economic Analysis, the percentage of disposable income people save was 2.4% in November. That’s down from an average of 6.3% before the pandemic, according to S&P Global Market Intelligence, which compiled the numbers from 1991 through 2019.

Zdinak said that a low interest rate is unsustainable, especially as consumers have been spending money deposited in their savings accounts in the earlier months and years of the pandemic.

Economists at the market data company expect a recession to start in the first quarter of 2023 and last for two quarters.

Zdinak said the downturn will be fueled by reduced orders and less production as many retailers clear unwanted inventory after consumer preferences changed abruptly in 2022.

Then there are headwinds for consumers. The reality could soon hit families who are on budget for gifts or holiday trips, said Widlitz of SW Retail Advisors.

“Everyone gets through the holidays in denial and February 1st when you get yours [credit card] Statement or January 15, whenever it comes, it’s like ‘Oh!'” she said.

— Caitlyn Freda contributed to this report.

The UK and France say no plans presently to comply with Italy with Covid testing for arrivals from China

People wait in the arrivals area of ​​Terminal 5 at Heathrow International Airport.

Carlos Barria | Reuters

LONDON – Britain and France said Thursday morning they had no current plans to reintroduce mandatory Covid-19 testing or additional requirements for travelers entering the country.

Britain’s Defense Secretary Ben Wallace said Thursday afternoon he expected “some clarification” on new rules for arrivals from the country’s Department for Transport on either Thursday or Friday.

It comes as several nations announced new measures in response to China’s easing of Covid restrictions amid a suspected rise in infections but reduced domestic testing. Beijing ended its quarantine on arrival on Monday, prompting many to book their first overseas trips in years.

Italy, the center of the first outbreak in Europe in early 2020, became the first country in the region to announce on Wednesday that mandatory antigen swabs would be required of all travelers from China.

On a December 26 flight from China to Milan’s Malpensa Airport, 52% of passengers tested positive for Covid, la Repubblica reported.

European Union health officials were locked in talks Thursday to try to coordinate a response.

“From a scientific point of view, there is no reason at this stage to reintroduce border controls,” said Brigitte Autran, head of France’s health risk assessment committee COVARS, according to a Reuters report on French radio Classique.

German, Portuguese and Austrian officials also seemed reluctant to introduce new measures.

However, Italian Prime Minister Giorgia Meloni told a press conference that her country’s testing measures may be ineffective if not implemented across the EU, as many travelers enter Italy via other Schengen countries.

She said preliminary testing showed Covid-positive travelers from China were aware of Omicron variants, Reuters reported.

Italy’s National Institute for Infectious Diseases reportedly called for an increase in testing for people arriving from China. “It would be better if the surveillance was coordinated at European level,” the institute said, according to a translation of the Ansa news agency.

“Italy cannot be the only country implementing anti-Covid checks at airports for people arriving from China,” Italian Transport Minister Matteo Salvini said on Twitter.

The US said from January 5 all arrivals from mainland China, Hong Kong and Macau must present a negative Covid test taken within two days of departure.

There is good reason to believe that China is recording more Covid deaths than reported

India will require a negative test from passengers arriving from China, Japan, South Korea, Hong Kong and Thailand, with passengers being quarantined if they test positive or exhibit Covid symptoms.

Japan and Taiwan will conduct tests upon arrival of passengers from mainland China.

While the UK government said there were no plans to reintroduce Covid testing or additional requirements for arrivals in the country, it said it would monitor the situation until Thursday.

It could herald a change in policy, particularly if a wave of other European countries reintroduce testing.

Officials have cited a lack of published information from China about new variants as a reason for increased precautionary measures.

Beijing says its latest outbreak is due to the highly transmissible but less deadly Omicron variant. But a lack of data and the country’s track record of obscuring reality has led many nations to tread cautiously.

Trump taxes detailed in new congressional report

Former U.S. President Donald Trump speaks at a rally for Senator Marco Rubio (R-FL) at the Miami-Dade Country Fair and Exposition November 6, 2022 in Miami, Florida.

Joe Raedle | Getty Images

The amount of earnings, deductions and taxes former President Donald Trump has paid or repaid to him while he was on duty at the White House has been detailed in a new report released Tuesday night.

The report reveals that Trump reported negative income on his federal tax returns in 2015, 2016, 2017 and 2020 and that he paid a total of $1,500 in income taxes for 2016 and 2017.

On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and requested a $5.47 million refund, according to the report by staffers at the Joint Committee on Taxation.

The report was posted online shortly after the Ways and Means Committee decided to release redacted versions of Trump’s complete income tax returns and those of eight related companies for tax years 2015 through 2020.

These full returns are expected to be released in the coming days.

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A separate report released by the Ways and Means Committee revealed that the IRS had begun an audit of just one of Trump’s tax returns while he was serving as president, despite an internal policy requiring incumbent presidents’ tax returns to be annual being checked.

The 39-page report from the staff of the Joint Committee on Taxation provides an overview of highlights of Trump’s joint tax filing with Melania during his tenure and the two years that he was first running for president.

The report identifies several areas the staff said needed further investigation, such as documenting nearly $506,000 in charitable donations claimed by the Trumps in 2019.

Report highlights include:

  • In their 2015 federal declaration, Trump and his wife reported negative income of $31.7 million on taxable income of $0. The couple paid $641,931 in federal income taxes.
  • His 2016 tax return reported negative income of $32.2 million with taxable income of zero. The Trumps paid $750 in taxes.
  • The 2017 tax return reported negative income of $12.8 million with $0 in taxable income. The couple paid $750 in taxes.
  • The 2018 tax return reported total income of $24.4 million with taxable income of $22.9 million. The Trumps paid $999,466 in federal income taxes.
  • In 2019, the Trumps reported combined income of $4.44 million and taxable income of $2.97 million. They paid $133,445 in taxes.
  • The 2020 return shows negative income of $4.69 million on taxable income of $nil. The tax paid by the Trumps was $0 and they sought a $5.47 million refund.

Correction: Trump’s 2016 tax return shows negative income of $32.2 million. A previous version incorrectly stated the figure.

Read the report on Trump’s annual tax returns here.

Will Nick Cannon Have A Vasectomy After Child #12? He says…

Nick Cannon welcomes baby number 12

Nick cannon might be open to have more children.

During his appearance on CNN’s New Year’s Eve special, the Wild ‘N Out host, who recently welcomed his 12th child, revealed the co-host Andy Cohen and Anderson Cooper that he has no “endgame” when it comes to expanding his family.

“Obviously I don’t have a plan,” said Nick, 42, with a laugh. “Honestly man it’s really just so much joy and exhilaration to have the family that I have and I hug them and I love them but I have no plan. That should have been clear from the jump.”

When asked if a vasectomy was in Nick’s future, he replied: “Is that what you want me to have? This is my body, my choice.”

Nick’s comments come just days after him and Alyssa Scott welcomed their second child together, a little girl named Hello Marie Cannon. The duo’s first child Zendied of a brain tumor in December 2021.

A 39-year-old making $160,000/month in passive earnings shares his finest recommendation

When starting a business it is sometimes difficult to know what to prioritize and doing it alone can be overwhelming. But there are strategies you can use to avoid common pitfalls.

My mission is to teach people how to make money from their passions. It’s what I did: I went from grocery stamps to building two online businesses.

Today I run a music blog, The Recording Revolution, and an entrepreneurship coaching business. I work just five hours a week from my home office and earn $160,000 a month in passive income.

Here’s what I tell my 3,000 clients to think about in the first 30 days of starting a business:

1. Be clear about how you want to spend your time.

Many new business owners I meet only know one thing: how much money they want to make.

While this is a good starting point, it is incomplete. Your business should serve your life, not the other way around. So make sure it aligns with your hopes, dreams, and goals.

Ask three questions to get clear about the kind of business and life you want:

  1. What does a perfect day look like for you? Don’t just think about your typical work day. Think about other life activities that you would like to incorporate into your day, such as exercising or spending time with family.
  2. How many hours would you like to work a week? You don’t have to stick to the standard 40-hour week. Knowing exactly how many hours you want to work will help you prioritize tasks.
  3. How important is free time? Some people don’t care if they take time off as long as they love what they’re doing. Others appreciate longer breaks. In order for money to flow when you’re not working, you need to have some form of passive income.

2. Simplify your business model.

When I started my music education business, people told me I needed to test my sales pages, host launch parties, and pre-record a bunch of ads in order to grow.

Instead of overwhelming myself with things that didn’t make sense to me, I kept it simple and focused on three things: creating weekly content for my blog and YouTube channel, growing my email list from that audience and promoting the paid products I created to this list.

If you’re just starting out, develop content around your expertise to engage an audience. It doesn’t have to be perfect. You can iterate over time and design new products based on what your customers want more.

3. Cut out unnecessary daily tasks.

Identify which daily activities help you earn more. Don’t waste time or burn out by focusing on unimportant tasks.

It can feel good to hit inbox zero or change the color of the buttons on your site, especially in the early days when you want to feel like you’ve achieved a goal. But none of these things will make you any money.

Before beginning a new task, ask yourself three questions:

  1. What is the expected result for this task?
  2. Does it make more money?
  3. Can I point to a direct link between this task and earning income?
  4. What does it cost to do this instead of something else?

4. Prioritize fun.

People can tell if you’re doing something just for the money or if you really love what you’re doing. This authenticity will connect you more deeply with your customers and support you in the long run.

You don’t want to burn out because you’ve wasted all your time doing things that didn’t matter to you.

I always give my students this framework as they begin their entrepreneurial journey: build a business around something you want to do and enjoy for the next 10 years.

Graham Cochrane is the founder of The Recording Revolution and author of How to Get Paid for What You Know. He has helped more than 3,000 people start and grow their own businesses. Follow him on Instagram and Twitter.

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The danger of a harmful new Covid variant in China is “fairly low,” says the US well being skilled

A fever clinic converted into a high school is seen here on December 28, 2022 in Fuzhou, Fujian province.

Wang Dongming | China news service | Getty Images

BEIJING – A dangerous new variant of Covid-19 is unlikely to spread in China, said Dr. Chris Murray, director of a health research center at the University of Washington in Seattle.

His Friday comments on CNBC’s “Squawk Box Asia” come as US health officials this week warned of the possibility of a new variant of Covid emerging in China’s nationwide outbreak – and how Beijing’s lack of transparency is delaying identifying public health risks could.

Murray, director of the Institute for Health Metrics and Evaluation, pointed out that there have probably been billions of omicron infections worldwide this year, but no new Covid variant has emerged, only subvariants of omicron.

“So I would rate the risk that there is a dangerous new variant in China as quite low,” Murray said. He noted that “some very special properties” are required for a new variant to emerge and replace Omicron.

The variant was first detected in South Africa more than a year ago. Omicron is far more transmissible but causes less severe disease than when Covid first appeared in late 2019 in Wuhan, China.

Unlike much of the world, China’s Covid wave this month is affecting a population of 1.4 billion, most of whom are becoming infected for the first time. Only domestically produced vaccines are widely available for local people.

Beijing suddenly eased many Covid-related movement restrictions this month. Authorities also announced on Monday that they would lift entry quarantine from Jan. 8 and resume passport processing for Chinese citizens who wish to travel abroad for tourism purposes.

The US, Japan and some other countries responded this week by announcing new Covid testing requirements for travelers from China.

Need for hospitalization, dates of death

Murray said a total travel ban, if proposed, “wouldn’t make sense” and that it “wouldn’t have any testing requirements”.

“The argument being made is that we need more transparency about what’s happening in China,” Murray said.

“The earliest sign of a new variant is actually going to be a change in hospitalizations or the death rate associated with Covid, and not just a lot of infections because we know Omicron is doing that,” he said.

Read more about China from CNBC Pro

China’s National Health Commission said Sunday it would halt the daily release of information on Covid infections and deaths. However, the Chinese Center for Disease Control and Prevention has been running daily reports – which, together with hospital discharges, show only thousands of new Covid infections per day and a handful of deaths. Covid tests are no longer mandatory in China.

Publications on the China Disease Control Center’s website show that its director, Shen Hongbing, held online meetings with his US counterpart and the head of the UK’s health security agency this month.

Covid risks

As for the theory that viruses adapt to keep their hosts alive, Murray cautioned that it holds “over a fairly long period of time, not months or years.”

Genomic research shows it’s still possible for a mutation to arise that causes more serious disease, Murray said. “I think it would be unwise to just assume that all variants will be like Omicron.”

A study published in Nature Medicine in November also found that contracting Covid-19 more than once increases the risk of organ failure and death.