With the end of his junior year of college in sight, Jonah has been spending hours studying the job boards at his university. He’s looking for a paid summer internship and also getting a feeling for what’s waiting for him after graduation.
The opportunities for non-STEM folks are slim right now. He applied to the few listed jobs, but hearing nothing. He did an unpaid remote internship last summer, so he doesn’t need to do that again. Restaurant work is always an option, if he just wants to pull in some dollars.
I’ve told him to keep an eye on that job board. I think that things are going to change soon, now that people are getting their shots and leaving the house. Why am I so optimistic? I’ve been whispers from here and there about the fact that folks with major cash are starting to spend again.
Rich people like to spend money. They like to spend money on themselves, but this year they couldn’t go on lavish vacations or buy status items to show off their wealth. They also like to spend money on investments that will multiple their money, but those investments were in hibernation this year. That’s all going to change very quickly.
One whisper came from my dental hygienist. As she scraped my teeth (ugh), she told me that one of her sons was building a new travel app to compete with Kayak. She said that he said he was able to attract major, major money from investors.
Another whisper came from a friend who has two sons who graduated this year with a BAs in computer science. Their first year salaries are in the six figures. One had an internship last summer that paid $12K per month.
Another whisper has come, weirdly enough, from the gossip blogs. Worried about Ian’s post-high school plans, my insomnia kicked into high gear this week. So, I’ve been reading crap about the Pitt-Jolie divorce and Harry and Meghan. There’s been lots of buzz about Harry’s new job as Chief Impact Officer at BetterUp, a mental health app that sounds like Noom, but for people who want to feel happy.
Some of the gossip revolves around the fact that Harry, who barely finished high school, is approaching these guys who have MBAs from Harvard and computer science degrees from MIT and demanding a seat at the table. Those guys must be pissed about this, because they told everyone about it. Apparently, BetterUp isn’t the first company that he hit up.
Other gossip involves this company itself. It apparently isn’t a nice place to work. And they, too, have been getting buckets and buckets of money from investors.
Maybe monetizing mental illness is going to be very profitable. The article that I just did on boys and mental health at Edutopia has been on their “most popular” list all week. Educators and school administrators are projecting a major disaster, when schools open up this September.
But maybe we’re looking at another tech bubble. People investing just because they sat on money for too long, and they want to get in on the ground floor of the Next Big Thing.
That picture above is from an old department building in Philadelphia, when all the cities boomed during the Industrial Revolution. Are we approaching a similar economic boom?
So, what am I doing with these whispers and hunches? What advice am I giving my kid and nieces who will be on the job market in the next 12 months?
If a paid internship doesn’t open up for Jonah this summer, I’m going to steer him away from the quick money at a restaurant and towards computer science, business, and mental health classes at the local community college. So far, he’s been taking traditional liberal arts classes at his college. Businesses will need people with word and language and thinking skills, so that liberal arts degree is very valuable. He doesn’t need to be a computer programmer to take advantage of the coming job boom, but it might be help him to say that he understands that world. Since the number of college graduates, particular boys, won’t be plentiful this year, he’ll have even more advantages.
The travel and mental industries are clearly going to see major growth next year. What else? I think anything to do with private education; too many parents left public schools for good. I’m not sure if the work-from-home thing is going to stick — Steve’s office never downsized, though he’s still home for now — so I’m not sure if companies like Zoom and other remote-work platforms will expand. Um. Not sure. Curious what you all think.
If you had buckets of money, what industries would you invest in?