Dr. Diane Hamilton's Blog

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The PayPal Mafia: What is a Serial Entrepreneur?

The PayPal Mafia refers to a group of individuals who created multiple companies that created a frenzy of growth in the Silicon Valley.  The entrepreneurs created PayPal before they set out to develop other multiple successful technology-based companies.  These men are serial entrepreneurs or individuals who, “continuously come up with new ideas and starts new businesses. As opposed to a typical entrepreneur, who will often come up with an idea, start the company, and then see it through and play an important role in the day to day functioning of the new company, a serial entrepreneur will often come up with the idea and get things started, but then give responsibility to someone else and move on to a new idea and a new venture.”

To learn more about some of the individuals associated with the PayPal Mafia check out the following members and how their initial success led to other serial successes:

For a more complete list of the PayPal Mafia members and their accomplishments, click here.

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How to Avoid Paying 85% Tax on Social Security

 

Baby Boomers (those born between 1946 and 1964) have found out some hard lessons recently about how easily their retirement money can disappear.  One thing they may not have counted on is how much they may be taxed on Social Security benefits.

According to the Social Security Administration Website, the guidelines for paying taxes on social security include:

  • file a federal tax return as an “individual” and your combined income* is
    • between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
    • more than $34,000, up to 85 percent of your benefits may be taxable.
  • file a joint return, and you and your spouse have a combined income* that is
    • between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
    • more than $44,000, up to 85 percent of your benefits may be taxable.

Many adults receive social security as their only form of income. If that is the case, there income level would be low enough that they would not have to pay taxes or even file a tax form.  See topic 423.

For individuals who are lucky enough to have saved a few bucks for retirement, check out the following articles for help to avoid having to pay this high percentage:

  1. When Uncle Sam Wants His Money Back
  2. Avoiding the Social Security Tax Trap
  3. History of Taxation of Social Security
  4. AARP: Social Security and Taxes
  5. How Much Social Security Benefit May Be Taxed

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Genetics Impact on Intelligence

 

Was Einstein a genius because he inherited good genes?  That is just one of the questions some new research may be able to determine.  According to the article A Genetic Code for Genius in the Wall Street Journal, “In China, a research project aims to find the roots of intelligence in our DNA.”

There is no denying that emotional intelligence has become a buzz word in HR.  Employees’ emotional quotient or EQ may sometimes be more important than their IQ.  However, the roots of many personality and intelligence issues like IQ still remain a mystery.  According to the Wall Street Journal article, “Studies show that at less half of the variation of intelligence quotient, or IQ, is inherited. Truly important genetics that affect normal IQ variation have yet to be pinned down.”

The average person has an IQ of 100 and Nobel laureates have an average IQ of 145. In a study of intelligence in China, the researchers are looking at individuals who have an IQ of over 160.  To date, studies have not been large enough to give very useful information about IQ and genetics.  This latest study “will compare the genomes of 2,200 high-IQ individuals with the genomes of several thousand people drawn randomly from the general population.”  The problem is finding the people with such an extremely high IQ.  The researchers likened it to finding a bunch of people over 6-foot-9 inches tall.

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Top Business and Career Trends for 2013

 

Potential entrepreneurs often look for the next big idea.  With changing technology, it is important to have foresight.  It is not always necessary to be the first company to offer a product or idea.  Facebook is an excellent example of this. Sometimes an idea can be improved upon or tweaked.

Once an entrepreneur comes up with an idea, they must create a feasibility study.  After creating a viable plan, there are some unique ways entrepreneurs may obtain financing.  Crowdfunding and microlending are just one of the latest trends.  Check out the Top 7 Ways for Entrepreneurs to Obtain Funding.

Some experts have tried to predict the next big areas for innovation. There are even sites like Trendhunter that offer trend reports to help with predictions. For those interested in getting ahead of the game, check out some of the top articles on business and career trends for 2013:

  1. Top 4 Career Trends for 2013
  2. Consumer Trends for 2013
  3. Top HR Trends for 2013
  4. 2013 Trend Customers Will Be In Your Face
  5. Mobile Payments Trends for 2013
  6. Mobile Trends 2013
  7. 2013 Trends Affecting Businesses
  8. Biggest Trends in Business 2013
  9. Lean Start-Ups and Connected Economy Trends 2013
  10. 5 Business Trends to Ignore in 2013

The last article is an interesting one, because sometimes people look at trends as positive things.  That may not always be true.  An important point was made in that article.  Bringing value to customers should be a primary goal.

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Generation Ali Passes the Torch to Millennial Generation

 

Muhammad Ali has been called the most recognizable man on earth. While he is still considered the champ from his boxing days, he has continued to inspire people around the world.  His belief that others can achieve greatness led to his most recent venture the Generation Ali Global Citizenship Scholarship Program.  This program, due to launch December 7, 2012, is aimed at the millennial generation. According to the Generation Ali site, the program is about “Fostering tomorrow’s leaders to achieve personal greatness, contribute positively to their communities, and change the world for the better.”

According to Alltech, Donald Lassere, president of the Muhammad Ali Center stated, “Muhammad Ali has proven that one person can be a spark that lights the flame of inspiration and change the world. Generation Ali will take up the torch and continue Muhammad’s legacy by inspiring a new generation of leaders to create better lives, better nations, and a better world.”

In order to apply for this program, applicants must

  • Be a high school senior or graduate or post-secondary undergraduate.
  • Plan to enroll or are currently enrolled in full-time undergraduate study at an accredited United States two- or four-year college, university or vocational technical school.
  • U.S. and international students encouraged to apply.

Ali’s Facebook site shows a graphic that mentions $10,000 scholarships. Ali stated, “This is it! The Greatest Scholarship of All Time is here! Start spreading the word. Online application starts December 7th! U.S. and international students encouraged to apply.”