Blue eyes, trust fund

It all started with a TikTok video by 27-year-old Megan Boni, known as Girl On Couch. Her April post, amassing about 49m views, features a singsong message: “I’m looking for a man in finance. Trust fund. 6’5.” Blue eyes.” DJs remixed Boni’s audio. Thousands of social-media users created videos with the sound or riffed on the phrase — making it a front-runner for TikTok’s song of the summer. Boni struck a deal with Universal Music Group. Adam Lyons, a professional dancer in London, choreographed flash mobs of men in matching slacks, button-ups and vests dancing around the city to promote the song for Universal.⁠ “It’s the most honest song which has been released in a long time,” he said. “No one wants to go on a date and split the bill. You want to be wined and dined by a man in finance.”

(Adapted from “It’s The Summer Of The Finance Bro,” by Hannah Miao, published on June 22, 2024, by The Wall Street Journal)

Learning new skills

If you want to shift the direction of your career, you likely need to build new skills to make it happen. But this is often easier said than done. Between your day job and personal life — how can you find the time? Here’s a tip from author Elizabeth Grace Saunders: It’s going to take more than listening to a few webinars to build the knowledge you need get to where you want to go. You must set aside a significant amount of time for self-directed learning, formal training, or even a second job to gain the skills for the big leap. Don’t sacrifice your health or most important relationships, but accept that you’ll need to shift your schedule. This may look like limiting optional activities, such as keeping up on your favourite TV shows or waking up early on the weekends.

(Adapted from “You Need New Skills To Make A Career Pivot. Here’s How To Find the Time To Build Them,” by HBR Early Career)

Dubai’s popularity

Dubai sells itself as a refuge for the footloose plutocrat. It is an easy place to do business and has convenient flight connections to just about anywhere in the world. Its streets are safer than New York’s or London’s (not to mention much cleaner). Just in case those attractions are not enough, it levies no tax on income, property or capital gains. Small wonder that the United Arab Emirates, of which Dubai is the glitzy business hub, is forecast to draw a net 6,700 millionaires this year, according to Henley & Partners, a wealth consultancy. That is almost twice as many as are expected to head to America, the historic home of the world’s rich, with 5.5m residents worth $1m or more. Long a bolt-hole for rich Russians, Indians and Arabs from neighbouring countries, Dubai is now attracting a new group of mogul migrants: Europeans fleeing rising political uncertainty at home.

(Adapted from “European Millionaires Seek A Safe Harbour From Populism,” by The Economist, published on June 27, 2024)

EV’s rocky road

Issues with charging has nearly half of electric vehicle owners in the US considering going back to fossil fuels — the latest bad sign for the EV transition. A recent consumer study conducted by McKinsey found that 46pc of US EV owners surveyed were likely to switch back to a gas-powered vehicle, compared to a global average of 29pc of EV owners who said they would likely switch back to an internal combustion engine. Respondents said the top reason for ditching their EVs was a lack of charging infrastructure. Other charging issues high on the list included a lack of charging at home and the impact of long-distance driving. Range anxiety and access to charging infrastructure have long been considered big barriers to electric-vehicle adoption, but the revelation that these same issues may drive current battery-powered car owners back into gas-powered cars is a new blow for the already rocky EV transition.

(Adapted from “EV Charging Is So Bleak In The US That 46pc Of Owners Are Considering Going Back To Gas-Powered Cars,” by Nora Naughton, published on June 28, 2024, by Business Insider)

Published in Dawn, The Business and Finance Weekly, July 1st, 2024