• As war rages in Ukraine, here’s how companies are responding to compounding crises.

    McKinsey&Company

    See what’s at stake  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    McKinsey & Company
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    The rising toll
    In the news
    A swift response. Years of weighing in on divisive social issues have prepared many corporate leaders to respond quickly and decisively as problems arise. Now, after dealing with the COVID-19 crisis, companies are tackling another global crisis head-on. When the war in Ukraine broke out, hundreds of companies acted fast to protect the lives of their workers and their businesses’ reputations. More than 400 firms with a footprint in Russia have halted or cut back their operations there. [WSJ]
    Fading optimism. As the conflict continues in Ukraine, hope is fading for a quick end to the war, the effects of which are being felt worldwide. In Japan, business confidence has fallen for the first time in almost two years, according to the Bank of Japan’s quarterly survey. Business sentiment for the country’s top manufacturers slipped three points between December and March. Meanwhile, a surge of COVID-19 cases in China is intensifying concerns over a potential economic slowdown across Asia. [WaPo]
    “Prices are rising in anticipation of potential shortages. And what will happen is high-income countries will be able to pay, while lower-income countries will have access problems.”
    On McKinsey.com
    War and uncertainty. The largest war in Europe in nearly 80 years is a severe humanitarian crisis in a world already grappling with the uncertainty of a protracted pandemic. In addition to the tragedy of lives lost and disrupted in Ukraine, “the energy and food crises are pinching at the livelihoods of people across the world,” says Sven Smit, McKinsey senior partner and chair of the McKinsey Global Institute, in the latest episode of The McKinsey Podcast. Many companies are setting up crisis teams (as they did during the COVID-19 crisis) to understand how the war in Ukraine affects their people and operations.
    Months vs years of economic pain. If hostilities are resolved diplomatically in the coming weeks, assuming a modest policy response, we’d be unlikely to experience a stoppage in the supply of energy and some critical materials, says Smit. “In that case, maybe the first or second quarter of this year might look wobbly, and then we might emerge back to some form of normal trajectory.” However, if hostilities are prolonged, with economic sanctions lasting longer and at higher levels, “we could easily be two, three years under,” suggests Smit.
    — Edited by Belinda Yu   
    Understand the effects of war
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    by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:22 - 7 Apr 2022
  • How COVID-19 caused a global learning crisis

    the Daily read

    Address the impacts ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    AN ARTICLE A DAY, PICKED BY OUR EDITORS
    If you’re a parent of school-aged children, you’ve seen firsthand the pandemic’s toll on student learning and well-being—and its effects on families, teachers, administrators, and entire communities. Students around the globe are, on average, eight months behind where they would have been if it wasn’t for the pandemic. By 2040, unfinished learning due to COVID-19 could cost the global economy $1.6 trillion. So what’s the path forward for school systems? A new article explores what the global education community can do to address this unprecedented education crisis and help students get back on track. Be sure to check it out.
    — Joyce Yoo, digital editor, New York
    Image of a young student working on his laptop
     
    How COVID-19 caused a global learning crisis
    The pandemic has taken a substantial toll on students’ academic progress as well as on their mental health. School systems can respond across multiple horizons to help students get back on track.
    Address the impacts
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    “Prior to the last two years… going out to eat, getting something delivered, and having ingredients to cook your own meal were very distinct occasions. As folks have spent more time at home in the last years, they have redefined their relationship with food as an experience. For many, it was the only experience that breaks up the day.”
    —Vishwa Chandra, McKinsey partner, on the convergence of traditional restaurant delivery platforms and grocery delivery platforms in “Next on the menu for food delivery
    Chart of the Day
    Chart displaying downloads of top 40 e-health apps In Germany during the last four years
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    An inspiring conversation about aging, women in leadership, and the chance to change the narrative on old age.
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    Singapore emerges as a new-business-building hub
    Singapore emerges as a new-business-building hub
    New infrastructure and funding sources, along with established practices, are helping traditional companies launch new businesses that can scale quickly.
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    The McKinsey Crossword: All Alliterative | No. 70
    The McKinsey Crossword: All Alliterative | No. 70
    27 across: Developing discontinuously. Can you solve it?
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    by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:39 - 6 Apr 2022
  • The metaverse rises

    Re:think

    Defining the metaverse ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
    A drawing of Lareina Yee




    NEXT BIG THING?

    Signals of the metaverse


    Lareina Yee

    Internet searches for the term “metaverse” rose 7,200% in 2021. Those aren’t media mentions. That’s individual curiosity, a clear signal of how much people want to understand the term. The metaverse is a confusing term, because at this point it isn’t just one thing. For now, the metaverse is a combination of elements with the potential to create a vast virtual environment where new kinds of interactions and new kinds of B2C and B2B commerce are possible.

    This integrated physical and virtual experience will have three core characteristics: immersive, interactive environments that use technologies such as virtual reality and augmented reality to give a sense of presence and mimic the realism of the real world; a modifiable but persistent state where you can build, create, and interact similar to the way you interact in the physical world; and a digital identity that is as valuable and unique as your physical identity.

    People sometimes confuse the metaverse with the technologies that enable it. For instance, the metaverse is not virtual reality. Virtual reality is just a part of the metaverse tech stack, which has a lot of existing technologies and some that are incipient. For instance, 5G is essential for the metaverse. Great connectivity, particularly low latency, is your ticket to board the flight in, as it were. But you also need payments technology, cloud and edge infrastructure, 3-D developer tools, creator tools, security and identity platforms, virtual worlds and content, and even better devices and peripherals.

    One big issue is that there’s no portability. What passes for the metaverse today is actually a set of microverses—you can’t move your avatar, social graph, virtual assets, and data seamlessly from, say, Fortnite to Roblox. That’s no good for the over 200 million monthly active users who spend an average of 2.5 hours per day on the services. That will have to change. Those gaming platforms are giving people—especially young people—new expectations for how they can interact online. They assume that they’ll be able to connect, create, and buy and sell in similar worlds. We’ll need a better trust architecture (which may be decentralized and very different from current models) if they’re going to do all that seamlessly across multiple platforms.

    For now, I’d say we have just the glimmer of the metaverse. Given that, companies are asking tough questions: Is this all hype and a distraction? Should I pilot an experiment to learn about it? Is this an investable thesis that I should take seriously now? Is it such a serious pivot that I should worry about my core business? And if I can’t answer those questions with confidence, what should I do now?

    For almost everyone, learning about the potential of the metaverse is a no-brainer. One great way to do so is to follow venture-capital (VC) funding. For example, Goldman Sachs estimated that there was $10 billion in venture funding for gaming and virtual worlds in 2021, more than twice the previous year. Seeing where the VC money goes can give companies a helpful perspective on what the metaverse might look like as it scales into something bigger.

    200 million monthly users spend an average of 2.5 hours a day on Fortnite and Roblox

    Experimentation can also be a great way to learn. To date, the experiments we have seen fall into three categories: brand integrations to extend existing experiences such as buying a virtual asset or NFT; ephemeral experiences such as the Gucci Garden; and persistent metaverse experiences such as we see in gaming. In the past few months alone, we have seen brands like Tommy Hilfiger, Forever 21, Ralph Lauren, Nike, NASCAR, and Warner Brothers launch metaverse plays. Experiments can be a way to open the window to the art of the possible—we may not fully know where they lead us, but we’ll certainly learn a lot in the process. 

    For experiments in the metaverse to work, companies may need to embrace open-ended investments, even small ones. In many cases, the people pushing for metaverse experimentation, who often come out of IT, haven’t tied the effort to a business case. Leaders may have to give them some leeway by expanding their tolerance for small failures. But the experimentation crowd must make more of an effort to think through the potential business value. 

    In addition, a lot of these technologies require expertise that most companies have in short supply. At this moment of sharp talent shortages, companies may not have the mix of engineering, software, analytics, and IT talent required to execute some of these ideas. Partnering with platform providers like Roblox or Decentraland can alleviate some, but not all, of this problem.

    There are many obstacles and much uncertainty. It may well take a decade or more to fully build out the potential of the metaverse. There’s no hard-coded road map. For example, while today’s hype is about consumer use cases, enterprise or B2B cases may be the ones to scale first. Just like in the early days of the internet, it was not clear where it would go and how long it would take to develop, but we knew it was an exciting direction of innovation. 

    This feels like that kind of moment. Once again, technology is driving innovation into something that’s just around the corner, that could transform our experience in some unforeseen way. It reminds me that the potential of technology is infinite. That’s so humbling, and so inspiring. 

    ABOUT THE AUTHOR

    Lareina Yee is a senior partner in the Bay Area office.

    MORE FROM THIS AUTHOR

    Confronting the early-career gender gap

    To achieve workforce parity, businesses should apply the same practices they are using against the glass ceiling.

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    Ten things to know about gender equality

    Since 2015, progress has been marginal, and now COVID-19 has hit women hard. We offer ten facts about gender equality that everyone should know.

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    IN TWO WEEKS

    Shelley Stewart on diversity commitments

    In the aftermath of George Floyd, companies made enormous efforts to diversity. Here’s how they can deepen those commitments. 

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    by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 03:22 - 6 Apr 2022
  • The microchip industry is booming. How big could it be by 2030?

    McKinsey&Company

    What’s driving demand for chips ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
     ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ .
    McKinsey & Company
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    A surging semiconductor sector
    In the news
    Supply chain choke points. To counter the global chip shortage, chipmakers have sought to increase production. But a lack of chips is choking off the supply chain itself. For example, the CEO of one large supplier of chip-making equipment has said that his company can’t find enough chips to make its tools, resulting in long lead times. The biggest chip shortages aren’t in cutting-edge semiconductors but in the less sophisticated ones—those used in industrial equipment and cars. [Reuters]
    New rules of car buying. People looking to buy a new car should expect to pay premium prices or be prepared to wait until next year. In 2021, carmakers produced about two million fewer cars than they did in 2019. Since their supply of chips is limited, auto manufacturers can’t build enough cars to satisfy consumer demand. In addition to making fewer cars, many automakers are assembling cars without advanced features like automatic parking or climate-control functions for rear seats. [MarketWatch]
    Semiconductor markets have boomed, with sales growing by more than 20% to about $600 billion in 2021, and the industry’s aggregate annual growth could average from 6 to 8% a year up to 2030.
    On McKinsey.com
    Clamoring for chips. Ongoing semiconductor shortages have highlighted how tiny silicon wafers are critical to the production of everything from cars to computers. The chip industry is booming, following a wave of technological advancements, consumer demand for innovative products, and the rapid digitization of businesses. By 2030, McKinsey estimates that the global semiconductor market could reach $1 trillion.
    What’s ‘driving’ demand. Which semiconductor segment will grow fastest? Chips for the automotive industry are likely to see the most rapid growth over the next decade, according to McKinsey analysis. Autonomous driving, e-mobility, and other advanced applications could contribute to a tripling of demand for chips used in cars. This segment could make up as much as 20% of industry growth from now until 2030. Read the full article for an analysis of future semiconductor markets and to learn which three industries will drive growth over the next decade.
    — Edited by Belinda Yu   
    See the future of semiconductors
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    by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:16 - 5 Apr 2022
  • Don’t miss Remote Connect Day 2!

    Don’t miss Remote Connect Day 2!

    You can still register and watch Day 1's on-demand recording!

    Hi MD,

    What a whirlwind of a first day! Our attendees can’t stop raving about the talks with Adam Grant and Arianna Huffington, and all of the great discussions on distributed teams.

     

    It’s not too late to join the fun! See great Day 2 content April 6, 2022 at 7:00am UTC or 16:00 UTC, including discussions with Michael C. Bush and Priya Parker, insights on crypto, CEO panels, and more!

    We’ll see you there!
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    by "Remote" <hello@remote-comms.com> - 07:02 - 5 Apr 2022
  • Game on! Why your computer learns faster and games better than you think

    the Daily read

    The latest McKinsey for Kids ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    AN ARTICLE A DAY, PICKED BY OUR EDITORS
    Are you smarter than your computer? Strides in technology and artificial intelligence mean there are now machines that can solve some problems better and faster than humans can. And games—from checkers to chess and beyond—have played a surprising role in teaching computers to think like humans. The latest edition of McKinsey for Kids looks closer at how and includes a few short quizzes, a feature on training a robot dog through reinforcement learning, and a peek at how this technology helped a sailing team win the Americas Cup. Don’t miss it, whether you’re young or just young at heart.
    — Joyce Yoo, digital editor, New York
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    McKinsey for Kids: Game on! Why your computer learns faster and games better than you think
    Computers can solve some problems better and faster than humans can—but only after humans train the machines to use artificial intelligence. Let’s explore the world of gaming to figure out how.
    The latest McKinsey for Kids
    Quote Quote
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    “One of the best compliments I’ve gotten was that, as a female leader in board meetings or executive meetings, I tend to feel less of a need to fill the room. I step back a bit more and observe the room and see what could be a win–win for everyone. As women leaders, we all need to celebrate the fact that we add quite a bit of inspiration to the room because of the diversity and the energy that we bring.”
    Violet Chung, McKinsey partner, on diversifying leadership in “Accelerating diversity in insurance”
    Chart of the Day
    chart of the day
    See today’s chart  
    Also New
    Amy Zegart
    Author Talks: Open season for intelligence gathering
    Open-source intelligence means spying isn’t just for governments anymore—anyone with an online connection can gather troves of information.
    Follow the data   >
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    The semiconductor decade: A trillion-dollar industry
    The global semiconductor industry is poised for a decade of growth and is projected to become a trillion-dollar industry by 2030.
    Look ahead   >
     Futuristic city with group of people
    How can corporate functions become more agile?
    Faster decision making, better interdepartment coordination, and a sharper focus on business priorities are much more possible with the thoughtful adoption of agile models.
    Stay on your toes   >
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    by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:13 - 5 Apr 2022
  • Kubernetes monitoring made simple

     

    Microservices are awesome, but monitoring them can be...not awesome.

    As you break down your monolithic application into microservices, or build brand new cloud-native applications, your teams gain more autonomy, speed, and freedom.

    But troubleshooting containerized environments gets increasingly difficult as infrastructure is abstracted away from the people actually responsible for shipping and maintaining code.

    Fortunately, New Relic One Kubernetes cluster explorer provides multidimensional views in a curated UI that simplifies complex environments and enables you to view, troubleshoot, and alert on the most important parts of your cluster.

    new relic

    To set up Kubernetes monitoring within New Relic One today, follow our Getting Started guide to activate your integration.

    Happy Monitoring,
    Max
     

    by "Max from New Relic" <mfrancisco@newrelic.com> - 12:01 - 5 Apr 2022
  • BIAN + SmartBear: Enabling Open Banking Adoption and FinTech Innovation
    Don't miss out! Join us to hear about SwaggerHub + BIAN
    Hey Abul,

    It’s your last chance to register for Thursday’s webinar, BIAN + SmartBear: Enabling Open Banking Adoption and FinTech Innovation. 
     
    Don’t miss the opportunity to join an informative and interactive discussion regarding the role of APIs in the financial services industry and how robust standards developed by BIAN support increased security and innovation. 
     

    We will cover: 

    • Standards & governance trends in the Fintech API development space
    • Benefits of open banking and partner ecosystem connectivity
    • A live demo of the BIAN model and landscape APIs using SwaggerHub


    We hope to see you there—if you can’t make it, register anyway to receive a copy of the recording.

    Molly Farmer
    Senior Marketing Specialist at SmartBear



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    by "Molly from SmartBear" <swaggerhub-team@smartbearmail.com> - 10:50 - 5 Apr 2022
  • Remote raises $300 million Series C!

    Remote raises $300 million Series C!

    Valued at almost $3 billion, Remote is the fastest-growing company for supporting distributed workforces.

    Hi MD

     

    I am excited and proud to announce Remote’s $300 million Series C round, led by SoftBank with participation from existing investors Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, and Gaingels.

     

    Remote’s growth since our Series B round last year has been incredible. Our globally distributed team now includes around 1000 people in 65 countries. It is thanks to the diversity of our team and the strength of our asynchronous, fully remote culture that we have been able to grow so quickly.

     

    Remote’s mission from day one has been to help create a world where every person and business truly belongs in the global market. This significant show of support from investors along with the rapid growth of our business is proof this need is not only palpable but the vision and solutions we offer are first-in-class.

    Job van der Voort
    CEO, Remote

    Ready to go global, but not sure how?
    We've got you covered.

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    by "Job van der Voort" <hello@remote-comms.com> - 07:30 - 5 Apr 2022
  • Do you see getting older as a chance to thrive? Here’s how to better care for seniors.

    McKinsey&Company

    What healthy aging means ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
     ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ .
    McKinsey & Company
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    On aging well
    In the news
    Isn’t it ironic? Discriminating against older workers is an “unfair paradox”: employees are penalized after spending decades gaining experience. Globally, more than six million cases of depression are linked to ageism, per the WHO. Unfortunately, age bias is common: in a 2021 survey, nearly 80% of older workers stated that they have seen or experienced age discrimination. If you’re an older worker, strategies to combat ageism include confronting your own fears about aging and being prepared to respond to bias (for instance, by touting your technology skills). [CNBC]
    The vanishing home-care worker. The thought of moving into a nursing home can fill some older adults with dread. A majority of Americans wish to be cared for at home as they age, but all over the country, home-care workers are hard to find, even as the population of US adults aged 65-plus is set to double by 2040. One report found that home-care staffers are quitting the field over low salaries and a lack of benefits. In most counties in one US state, home-care workers make $13.20 an hour—less than fast-food workers. [NYT]
    “If you think of old age as an opportunity for all of us to have a dignified life, then we are going to invest in services for older individuals.”
    On McKinsey.com
    Not a burden, but a blessing. We need to change how we think about aging, says Ursel J. McElroy, director of the Ohio Department of Aging, in an episode of the McKinsey on Healthcare podcast. “Old age cannot be seen as a burden because we will tend to focus on things that are limited to cost containment,” McElroy says. However, if we view aging as a privilege, we’ll be “willing to invest in long-term strategy rather than short-term fixes,” she adds. Supporting healthy aging means understanding what older individuals desire from their lives and addressing their diverse needs and preferences.
    Quality over quantity. Amid the COVID-19 pandemic, older adults are facing threats to their health, living arrangements, and social interactions. At the same time, we have the opportunity to make meaningful changes in how we care for our aging populations. “It’s not just about increasing the amount of time you’re on this earth; it is about the quality of time you have while you’re on this earth,” McElroy says. Read the full interview for three changes that would improve the experience of aging for us all.
    — Edited by Belinda Yu   
    Reframe aging
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    by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:12 - 4 Apr 2022
  • How to handle your work jerk

    the Daily read

    Deal with discomfort ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
     ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ .
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    Daily Read
    AN ARTICLE A DAY, PICKED BY OUR EDITORS
    Have you ever worked with a freeloader or a micromanager? Then you know just how toxic some work jerks can be. In a new Author Talks interview, Tessa West talks about her new book, Jerks at Work: Toxic Coworkers and What to Do About Them, and explores difficult work relationships and how best to counter them. Rather than agonizing over the idea thief or backstabber, learn more about why it’s important to tackle office conflicts head on. Read more to take advantage of effective strategies for foiling bad behavior, including your own. Now get to work!
    — Emily Adeyanju, digital editor, New York
    Tessa West headshot
     
    Author Talks: How to handle your work jerk
    Half of the battle against toxic behavior is identifying your own inner jerk.
    Deal with discomfort  
    Quote Quote
    Quote of the Day
    “Technology isn’t just for commercial use. New technologies are inherently dual use, and they also have military applications. This is a new era where there has to be more collaboration, more discussion, and more partnership between tech companies and the US government—and that’s challenging. Their incentives are not perfectly aligned, and it’s a work in progress.”
    —Amy Zegart, an academic and political scientist, on data collection in the government and the private sector in a new Author Talks interview
    Chart of the Day
    chart of the day
    See today’s chart  
    Also New
    Close-up of metallic chain breaking
    The rising toll of the war in Ukraine
    Lives lost and upended. Soaring food and energy prices. Supply chains at risk. Much is at stake as the war continues.
    Understand the crisis   >
    Accelerating diversity in insurance
    The picture of diversity in insurance varies across markets and companies. In this podcast episode, McKinsey experts explore the challenges of increasing diversity and the best places to start.
    Tactics for progress   >
    Next on the menu for food delivery
    Next on the menu for food delivery
    Even as revenue soars, profitability is still a challenge. How can platforms and restaurants get their fill, and what does the future hold for all players in this complex ecosystem?
    Understand the evolution  >
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    by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:04 - 4 Apr 2022
  • Last chance - Biggest first annual conference: Remote Connect 2022 😍

    Last chance - Biggest first annual conference: Remote Connect 2022 😍

    Hi MD,

    Remote Connect 2022 is tomorrow! Join us to gain insights and bold ideas to help us all build better, grow together, and level up in today’s competitive job market.

    See you soon,

    Remote

    FEEL CLOSER, GROW FURTHER REQUEST A DEMO

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    by "Remote" <hello@remote-comms.com> - 08:02 - 4 Apr 2022
  • Tackling complex problems: A leader’s guide

    Leading Off

    Mental muscle ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
     ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ .
    McKinsey & Company
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    Leading Off
    ESSENTIALS FOR LEADERS AND THOSE THEY LEAD
    Problems, big and small, abound in business, society, and our personal lives. The ability to answer the seemingly simple question, “What should I do?” is becoming increasingly difficult as our environments grow more uncertain and complex. As a result, problem-solving skills are in great demand. McKinsey research shows that organizations that have top-quartile problem-solving capabilities earn 3.5 times higher total shareholder returns than those in the bottom quartile. This week, let’s explore some structured approaches that can improve your problem-solving aptitude.
    AN IDEA
    Illustration of a cone above a square
    Clearly define the problem before rushing to solve it
    Albert Einstein once said, “If I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it.” Before you start thinking about solutions, you first must understand and clearly articulate the problem. In this episode of The McKinsey Podcast, Charles Conn, former CEO of Oxford Sciences Innovation and Rhodes House, describes a seven-step problem-solving process that can provide the structure and clarity needed to (perhaps counterintuitively) encourage creativity. The first step is to dedicate sufficient time to exploring and defining the problem and why it needs to be solved. The team can then disaggregate the various components of the problem, prioritize which of those have the biggest impact, and begin their analyses. Shortchanging this critical first step could lead to wasted time and resources (for example, if those resources are allocated to solving the wrong problems).
    A BIG NUMBER
    85
    That’s the percentage of survey respondents across Asia–Pacific Economic Cooperation (APEC) countries who identify problem solving as the most relevant 21st-century skill, according to Wiley’s Digital Skills Gap Index 2021. The World Economic Forum’s 2020 Future of Jobs report reveals similar sentiments among employers globally: critical thinking and complex problem solving top the list of skills of the future. In fact, four of the top five skills on the report’s “top ten skills of 2025” are directly linked to problem solving, indicating that employers believe these skill sets will only grow in importance.
    Quote Quote
    A QUOTE
    “Rookie problem solvers show you their analytic process and mathematics to convince you that they are clever. That’s sometimes called APK, the anxious parade of knowledge. But seasoned problem solvers show you differently.”
    That’s McKinsey alumni Charles Conn and Robert McLean in a McKinsey Quarterly article on six problem-solving mindsets to crack even the most complex problems under uncertain conditions. To start, they recommend channeling your inner four-year-old by staying curious and recognizing the power of asking questions. Next, embrace ambiguity, widen the aperture through which you view the problem, be willing to experiment, and crowdsource diverse perspectives to improve the ideas generated. And finally, return to an elementary-school activity: “show and tell” the problem-solving process and the logic behind the potential solution to drive decision makers to action.
    A SPOTLIGHT INTERVIEW
    A photo of Angela Hwang, Pfizer’s head of biopharmaceuticals
    Few businesses have experienced the need for effective problem solving as intensely as vaccine developers did during the COVID-19 pandemic. While pressure can sometimes feel debilitating, many pharma and biotech companies rose to the challenge. In this interview, Angela Hwang, Pfizer’s head of biopharmaceuticals, discusses how the company was able to develop and begin distributing a vaccine within eight months. “When the goal is so clear, what happens next is incredible problem solving that allows you to find the ‘white spaces’ and identify what you can remove to anticipate potential barriers,” she says. “Changing our goal setting and problem solving to match the issue at hand were probably the two greatest adaptions in leadership practices on this entire journey.”
    BUST YOUR BIASES
    Illustration of a sphere on top of a blue wave shape
    When it comes to problem solving within a team, take extra care to not fall prey to individual biases and collective behaviors that may thwart efforts to come up with great solutions. One bias that may manifest itself in a brainstorming session is people’s desire to conform or avoid conflict. Anonymous brainstorming and silent voting are two ways to ensure that all ideas are considered and to prevent mediocre ideas from taking the spotlight. Similarly, drawing on analogies can spark inspiration—unless that analogy is only superficially similar to the problem at hand, in which case it can lead to futile solutions. To avoid this trap, set up exercises to map the similarities between the two problems, past and present, and the conditions under which the solution would work in the new context.
    Lead by first defining, then solving, problems.
    — Edited by Dana Sand, an editorial production manager in McKinsey’s Cleveland office
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    by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:06 - 4 Apr 2022
  • Do you video chat with your doctor? See the ten biggest trends in healthcare delivery.

    McKinsey&Company

    The future of care delivery ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
     ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ .
    McKinsey & Company
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
    Delivering health
    In the news
    Workplace wellness. Digital health start-ups—companies that connect employees to mental-health services—are challenging traditional providers of employee assistance programs at a time when anxiety and depression are spiking. In 2021, investments in these companies doubled to $5.5 billion. The switch to virtual care during the COVID-19 crisis has enabled the rise of digital health platforms that offer a range of services, including sleep apps and mindfulness coaching. [Bloomberg]
    DIY health. There is an abundance of do-it-yourself (DIY) healthcare tools to help people take control of their health. But wading through the glut of apps, at-home test kits, and gadgets can be tricky: for example, consumers can choose from some 350,000 health apps to screen or monitor symptoms. Doctors say that although these tools can help users determine when to seek in-person care, people should be wary of using at-home tests to self-diagnose, since DIY tools can’t provide the comprehensive information that a medical exam would. [WSJ]
    US consumers take proactive steps to manage their own health and well-being, spending between $300 billion and $400 billion out of pocket on health expenses every year.
    On McKinsey.com
    Trading the whole person. US healthcare delivery is changing fast. Ten major trends are shaping the future of care delivery, according to healthcare leaders and McKinsey experts. One of these trends is “patient centricity”: healthcare that is convenient, transparent, and personalized. Recent McKinsey surveys show that people who use patient-centric providers are more likely than those who don’t to report greater satisfaction with their healthcare experience: they are 28% less likely to switch providers and five to six times more likely to use additional services.
    Virtual visits. Consumer interest in digital healthcare has increased dramatically since the COVID-19 pandemic began. McKinsey analysis shows that virtual health visits grew by a staggering 38 times between February and April 2020. Booming investment and favorable consumer views will contribute to continued growth in virtual health: McKinsey estimates that about $250 billion in spending could be shifted to virtual settings. Explore the next frontier of care delivery and the actions that industry leaders can take to ride the next wave of innovation.
    — Edited by Belinda Yu   
    Explore healthcare’s evolution
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    by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:48 - 4 Apr 2022
  • The week in charts

    the Daily read

    Cybersecurity spending, the value of a clean-fuels system, and more ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    The Week in Charts
    ALL THE WEEK’S DATA THAT'S FIT TO VISUALIZE
    Our Charting the path to the next normal series offers a daily chart that helps explain a changing world—during the pandemic and beyond. In case you missed them, this week’s graphics explored organizations’ increasing cybersecurity spending, the resources companies need to lower their carbon footprints, the biggest priorities for chief human resources officers, why consumer packaged goods companies are behind on their autonomous supply chain planning, and the potential infrastructure shift for gas utilities.
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    by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:16 - 2 Apr 2022
  • The war in Ukraine and navigating an uncertain future

    McKinsey&Company

    Plus, how to achieve higher-quality life ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    Monthly Highlights, April 2022
    The Russian invasion of Ukraine is causing the greatest humanitarian crisis in Europe since World War II. Thousands of lives have been lost, and millions of livelihoods have been disrupted. This month, our featured stories offer an initial framing of the challenges caused by the war, a perspective on the short- and midterm disruptions, and scenarios for the potential impact on livelihoods in the eurozone. Other highlights in this month’s issue include the following topics:
    • how humanity could add as many as 45 billion extra years of higher-quality life over the next decade
    • employees who left a job without another in hand, who returned and why, and how companies can begin to bring more workers back into the fold
    • ten things the world has learned through the course of the pandemic
    Editor’s choice
     
    Damaged wall surface after hit
    War in Ukraine: Lives and livelihoods, lost and disrupted
    As uncertainty weighs on decision making, scenarios can provide guidance.
    Understand the implications   >
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    Close-up of metallic chain breaking
    The rising toll of the war in Ukraine
    Lives lost and upended. Soaring food and energy prices. Supply chains at risk. Much is at stake as the war continues.
    Understand the crisis   >
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    THIS MONTH’S HIGHLIGHTS
    People gathered around a group
    Adding years to life and life to years
    At least six years of higher quality life for everyone is within reach. Aim high
    A brown egg balanced on two forks
    Gone for now, or gone for good?
    Nearly half of the employees who voluntarily left the workforce during the pandemic aren’t coming back on their own. Employers must go and get them. Here’s how to start. Understand employee priorities
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    Ten lessons from the first two years of COVID-19
    On the second anniversary of the pandemic, we take stock. Look back
     
    A big wave swallows the building
    Here comes the 21st century’s first big investment wave.
    A surge of investment in hard assets will pressure already strained supply chains and project delivery systems. CEOs who transform their capital strategy fast—and first—may win a competitive edge. Prepare for big changes
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    IoT comes of age
    McKinsey research shows that adoption of IoT technologies has increased exponentially the past five years—but successful implementation still eludes some. Here’s how to get it right. Connect physical and digital worlds
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    Private markets 2022
    The private markets comeback that began in the second half of 2020 gained momentum in 2021, yielding a year of records. Read the report
     
     
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    From risk management to strategic resilience
    Repairing the broken rung on the career ladder for women in technical roles
    Author Talks: How to handle your work jerk
    The five zeros reshaping stores
    Building next-generation B2B sales capabilities
    The role of the board in preparing for extraordinary risk
     
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    by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:54 - 2 Apr 2022
  • A playbook for more responsible manufacturing

    the Daily read

    Try a different approach ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    Daily Read
    AN ARTICLE A DAY, PICKED BY OUR EDITORS
    Supply chain resilience and local manufacturing are increasingly important in today’s geopolitical context. But how can organizations bolster their operations, while also engaging their workforces and driving sustainable operations? Innovation, leadership, and inspiration will be needed—and a playbook for driving responsible industry transformation is coming together, powered by insights from the 103 members of the Global Lighthouse Network (a World Economic Forum initiative in collaboration with McKinsey). Dive deeper on the six crucial enablers of transformations toward responsible production in a new article, and be sure to sign up for a Lighthouses Live event on April 6 for even more insights.
    — Joyce Yoo, digital editor, New York
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    Lighthouses reveal a playbook for responsible industry transformation
    The advanced factories of the Global Lighthouse Network show how sustainability and workforce engagement can accelerate and scale Fourth Industrial Revolution transformation—responsibly.
    Try a different approach  
    Quote Quote
    Quote of the Day
    “Looking to the future, retailers should consider more novel ways to incorporate data and analytics into the merchandising universe. They should also seek a more diverse set of data sources instead of an overreliance on historical data. Nearly a quarter of merchant leaders cited as a top long-term priority the use of advanced analytics and AI to influence product development and to rapidly test concepts before they go to market.”
    —Navigate the complexities of modern retailing and the importance of data in "Six strategic priorities for modern merchant leaders"
    Chart of the Day
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    Bridging the labor mismatch in US construction
    US construction projects are short-staffed today, and the problem is set to get worse. Here’s what the sector can do to close the gap.
    Reimagine an industry  >
    The $773 billion question: Inflation’s impact on defense spending
    The $773 billion question: Inflation’s impact on defense spending
    How will the Defense Department deal with possible long-term inflation and price increases for its most important programs?
    Understand the effects  >
    Aerial image of rural area
    Rural rising: Economic development strategies for America’s heartland
    There is no one-size-fits-all economic development strategy for rural communities. How can local leaders—including governments, businesses, and individuals—put rural regions on track to thrive?
    Strategies to thrive   >
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    by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:48 - 1 Apr 2022
  • The rising toll of the war in Ukraine

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    Understand the crisis
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    New from McKinsey Global Institute
    Close-up of metallic chain breaking
    The rising toll of the war in Ukraine
    Lives lost and upended. Soaring food and energy prices. Supply chains at risk. Much is at stake as the war continues.
    Understand the crisis
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    Related Reading
    Damaged wall surface after hit
    War in Ukraine: Lives and livelihoods, lost and disrupted   >
    A master class from the world’s best CEOs   >
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    by "McKinsey & Company" <publishing@email.mckinsey.com> - 04:58 - 1 Apr 2022
  • Create custom dashboards for faster troubleshooting

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    by "Max from New Relic" <mfrancisco@newrelic.com> - 12:00 - 1 Apr 2022
  • It’s time to update your company’s cybersecurity defenses

    The Shortlist

    Plus, operational tools CEOs can use to tackle rising prices ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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    The Shortlist
    Our best ideas, quick and curated | April 1, 2022
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    Given the geopolitical tensions surrounding the conflict in Ukraine, it’s a good time to remind companies that cybersecurity planning is crucial. Plus, new funding that could help quench US water needs, and a McKinsey senior partner and heavy-metal guitarist on the lifelong joys of rock ‘n’ roll.
    Image of eyeballs suggesting surveillance
    It’s the call that CEOs dread. A ransomware attack has been launched against the company, vital files have been encrypted, and paying a hefty ransom is the only way out. What used to be considered a fringe threat is now anything but. According to some estimates, ransomware costs could reach $265 billion globally by 2031.
    A four-part strategy. In the United States, ransomware attacks on supply chains rose by 42 percent in the first quarter of 2021, while security threats against industrial control systems and operational technology more than tripled in 2020. To ensure that they remain resilient in this perilous new environment, companies should focus on ransomware prevention, preparation, response, and recovery strategies now rather than later. The payment or nonpayment of a ransom could depend on whether an organization has mastered the basics of these four strategies.
    Sounding boards. Fortunately, leaders are not alone in this fight. Boards can act as a partner. They can engage in regular conversations with company leadership on cybersecurity issues, making sure the executive team is preparing the whole organization for the eventuality of an attack, not simply leaving it to the chief information officer and the technical team.
    The experts are evolving too. Companies and their boards are not the only ones being forced to pivot in the face of more sophisticated cybersecurity challenges. Leading cybersecurity providers have found that they must do the same, adjusting their strategies and their product and service offerings to meet new security objectives. These areas include perimeter security, next-generation identity and access controls, remote access, security automation, and security training.
    Walking the talk. While organizations in most industries have been focusing on cybersecurity for some time, the maturity of their approaches is not uniform. In 2021, McKinsey assessed the cybersecurity-maturity level of more than 100 companies and institutions in a number of industry sectors and learned that while some in banking and healthcare have achieved fair progress, most organizations—in all industries—still have a ways to go to protect their information assets against threats and attacks.
    Practice good digital hygiene. As former US congressman Will Hurd explained to McKinsey last year in a podcast about cyber resilience in the federal government, it all comes down to digital hygiene. “We shower. We brush our teeth. We comb our hair. We do all those things in our personal hygiene, and we should be doing those basic things in our digital hygiene, too.” For government, upgrading antiquated IT infrastructure to meet today’s threats is hard enough, let alone anticipating future attacks. Recognizing the cybersecurity skill sets needed across the federal government is a crucial step.
    Building resilience. Creating and updating a strong cybersecurity strategy is part of a broader attitude toward resilience. The global economy has demonstrated significant resilience through the COVID-19 pandemic, bouncing back faster than expected. Economic momentum remains strong, but organizations are encountering cross-currents in supply chains, workforce availability, inflation, and more. It’s worth underscoring that the foundations of future growth are often laid as societies respond to the weaknesses crises expose. History shows that in times of disruption, resilience depends on adaptability and decisiveness.
    — Heather Byer
    OFF THE CHARTS
    Water, water projects everywhere
    Aging water systems in the United States are in need of significant upgrades. The $1 trillion infrastructure bill passed in late 2021 allocates $55 billion to water initiatives over the next five years. This funding will address dire needs in communities where network pipes are nearly 50 years old and where some cast-iron pipes were installed more than a century ago.
    Chart of the Bipartisan Infrastructure Law investments
    Check out our chart of the day here.
    Starz CEO Jeffrey Hirsch
    INTERVIEW
    The future of streaming is borderless
    Jeffrey Hirsch, the CEO of Starz, discusses what technology means for the future of streaming, how inclusive programming has been good for business, and why most shows are going to be borderless. “The shows that we’re developing in Spain, we see there’s a great role for them in the US and in Latin America, and in Europe, the Middle East, and North Africa,” he said in a recent interview. “And it is the same with the shows we’re developing in India, where we’re using global casts because we feel those stories can play everywhere.”
    MORE ON MCKINSEY.‌COM
    How business operations can respond to price increases | Companies can rethink their response to cost increases by going beyond conventional commercial levers to controlling costs and reducing the impact of volatility across an organization’s full spectrum of activities.
    Fix them first: Executing regulation-driven separations | Executives can improve their management of a large merger or acquisition by better understanding the remedies that antitrust regulators may hand down.
    How telcos can succeed in launching new businesses beyond connectivity | The barriers that once hampered efforts by telecommunications companies to launch new ventures beyond connectivity are weakening. Selecting the right business-building approach can help ensure that more flourish.
    a photo of Scott Keller, McKinsey senior partner
    a photo of Scott Keller, McKinsey senior partner
    THREE QUESTIONS FOR
    Scott Keller
    Scott Keller, a senior partner in McKinsey’s Southern California office, is a coauthor of CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest. He is also a heavy-metal guitarist and songwriter who has recorded original music with members of Whitesnake, Testament, and Stone Sour.
    Let’s just say that your background is not typical for a management consultant. In your role as a CEO counselor, have you ever thought about whether rock or metal musicians would make great CEOs?
    Despite the fact that rock ‘n’ roll rebels against the 9-to-5 lifestyle, keeping a band together for decades of successfully writing and touring requires levels of collaboration, teamwork, and innovation that most business leaders would envy. I actually cowrote a McKinsey piece about this very topic called “How to Make Your Team R.O.C.K.” We spoke with Nancy Wilson of Heart, who talked about the importance of role clarity. Paul Stanley of Kiss talked about the need for both vision and execution. Roger Daltrey of The Who waxed lyrical about how crucial communication is. And Sammy Hagar talked about the core role of teamwork. I loved his observation about ego: “When someone, or everyone, thinks their ‘thing’ is the most important thing, it all falls apart. When mutual respect is there, magic can happen.”
    As part of the “research” for that article (often a jam session and a drink together), the drummer Matt Starr (who was playing for Mr. Big at the time) made a direct link to being a CEO. “Every serious musician is the CEO of themselves,” he said. “You find others who share the same objectives, get organized, pay attention to details, and prioritize where you spend your time to make it happen. I wonder how many employees in companies have the same drive?” That’s an interesting question to reflect on.
    You were featured in “Rock Camp: The Movie,” which follows campers as they attend Rock ‘n’ Roll Fantasy Camp with some of the legends of the genre, such as Jeff Beck, Alice Cooper, Slash, and Lita Ford. How did that come about?
    I was interviewed for the documentary because I had helped the CEO, David Fishof, when he was trying to improve the performance of his business. The film crew was interviewing me at home, and in the middle of the recording my special-needs son, Jackson, came home from school. Like many with special needs, he has a way of endearing himself to people. He started asking a lot of questions and then, out of the blue, he said: “You know what my new goal is? To play bass at Rock ‘n’ Roll Fantasy Camp!”
    Jackson didn’t play bass at the time, but for fun we walked over to my guitar rack and I tried to show him a few things (very unsuccessfully, I might add). Little did we know that we were being caught on film. A few months later I got a call from the documentary producers informing me that Jackson was far more interesting on film than I was and requesting that he come play bass at a Rock ‘n’ Roll Fantasy Camp being held two weeks later. During that time our whole family lived and breathed helping Jackson learn how to navigate the fretboard and play in time. When we got to camp, to borrow Sammy Hagar’s phrase, “magic happened.”
    You’re one of only a few hundred people to have visited every country in the world. How did you get started on that quest, and has music played a part in those experiences?
    My first adventure overseas was spending a semester of college in Santiago, Chile. I became involved in the heavy-metal scene there (shout-out to Gabriel from the band Dogma!), and when I traveled outside of Santiago, I always brought a charango (a mini-Andean guitar with five strings) with me. It was a great way to meet and entertain people.
    Later, when I started at McKinsey, every time I left the country on a work trip I’d tack on a visit to a new country. I always brought a travel guitar with me, and I learned about a lot of local bands and scenes I wouldn’t have explored otherwise (shout-out to the Spanish band Zenobia!). Over time, I wanted to share the experiences with my growing family, so the guitar was left behind and every vacation was “to somewhere dad hasn’t been yet.” I remember once getting a call from my oldest son’s elementary school asking why he was telling people he went to North Korea on spring break. Even though it was true, I’m not sure they ever believed it.
    In terms of what the journey has taught me, I think the best lesson has come from observing how my children embrace new people, cultures, and surroundings with insatiable curiosity and very little judgment. I strive to be childlike in that way (in addition to my childlike love for heavy metal!).
    — Edited by Barbara Tierney
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