Hey, Remote Insiders, today I have a very special email for you! We are testing some new layouts and an extended Deep Dive & Word on the Web section to help you get better informed faster!

Here’s what you’ll find in today’s email:

• how SVB collapse might impact remote work

• Brexit is back but the complete opposite

• science agrees with us: cubicles suck, here’s why

• and we share a little use case for “reflective UI”

But before we jump into that, here is an overlooked skill that many people are missing, yet has a high correlation with top earners & how to improve at it 👇

💡 TIPS & TRICKS

How to Become an Expert Collaborator and Earn Big $$$

According to a Harvard Business professor and researcher, being a great collaborator is an overlooked skill that is nonetheless shared by a high percentage of high-earning professionals.

And interestingly is particularly rare among men 🤔

Here are 3 ways to become a better collaborator & secure your next promotion:

1. Be inclusive: If you’re put in charge of assembling a team, always pick people from different backgrounds. It signals that you want people that think differently to work together in order to find the best answers.

2. Ask for help: If you’re in charge of putting together a weekly report, and always do it on your own it signals that you think you know best. Instead, reach out to experts to get their opinions and share their names in your report. It will make your points more compelling & credible.

3. Show appreciation: Someone smart once said “no man is an island” and yet, researchers found that during job interviews workers, especially men, often take their network for granted. Claire Hughes Johnson, a former Google VP, said this was a deal breaker when looking at potential hires since it shows a lack of self-awareness. Always acknowledge the help you received along the way!

🔬 DEEP DIVE

Will SVB Collapse Effect Remote Work?

Unless you’ve been living under a rock, by now you know that last week Silicon Valley Bank, or SVB for short, basically imploded.

In case you don’t know the details here’s a quick rundown:

• SVB is one of the main banking partners of many tech startups

• SVB took customers’ money & invested it in (likely more aggressive than advised) long-term government bonds

• When the Fed raised rates it put a strain on SVB

• Whispers started popping up all over Silicon Valley about possible liquidity issues at the bank

• Fueled by social media these concerns caused a bank run and SVB was unable to cover the requested withdrawals

• SVB is FDIC insured, however, that only protects up to $250K and 98% of depositors (tech cos) had more than that in their accounts 😬

Here’s a great graphic by Visual Capitalist explaining the general timeline:

Thankfully, the US government stepped in and said it will cover depositors’ money in full in order to stop a full-blown financial crisis from occurring.

While it seems like financial armageddon has been avoided, there could still be lasting effects.

Several other banks have since shut down including Silvergate and Signature Bank (both popular with crypto businesses) due to fears over the stability of the banking system.

How this could impact remote work

Remote work and tech go hand in hand.

Many remote workers are employed by tech companies and startups, freelance for tech clients, or may run businesses that cater to startups.

If these businesses can’t access funds, then there is no money to pay remote workers.

Thankfully, this scenario seems to have been avoided, but the longer-term concern is a continued bank run that could then trigger a full-scale recession.

Recessions & remote work

Now, some researchers have suggested that a recession may actually have a positive effect on remote work since it helps reduce business costs, and it could boost freelancing.

Similarly, many digital nomads are more financially diversified than their in-office compatriots both in crypto (which is seeing a boost, after some concerns) and possibly in international banks which should be better insulated from this US-based situation.

The good news is that it seems like the worst has been avoided, but it’s good to know that even if this were to cause a recession, remote workers may fare better than in-office workers.

Also proud to say that remote companies like Remote stepped up and did the right thing in these stressful times:

Bravo Remote… bravo 👏👏👏

🚨 WORD ON THE WEB

🏖️ A different Brexit: Last year 11% of UK workers decided to work remotely abroad. According to a new study by Finder, this year that number could be as high as 21% as workers look for sunnier climates & a better lifestyle.

❌ Cubicles suck: We all know it, but now science agrees! Developmental biologist John Medina says that a good workspace is one that agrees with our ancient survival instincts & shares a few useful tips on how to achieve that.

🧑‍💻 Virtual first: 2 years after going “virtual-first” Dropbox has shared a few things they’ve learned including why you should meet in person quarterly and the best WFH setups.

🤑 UHNW digital nomads: Recent report by Knight Frank found that 13% of ultra-high-net-worth individuals ($30m or more) are interested in acquiring a 2nd citizenship. Applications are surging in places like Turkey, Dubai, & Singapore.

🛵 Bye-bye scooters: Bali’s governor announced this week that tourists will no longer be allowed to rent scooters, and must instead use car services.

📆 UPCOMING EVENTS:

February 13-17: Convite [📍 Ponta do Sol, Portugal] - digital nomad conference exploring the movement’s impact on Macaronesia

April 25-26: Running Remote [📍 Lisbon, Portugal] - Largest remote work conference in the world for enterprises and SMEs

May 24-28: Vivel [📍 Multiple Locations, Turkey] - networking meets music at this one-of-a-kind conference for location-independent professionals

June 16-19: Camp Indie [📍 Kent, Connecticut] - adult summer camp & conference for digital nomads & those living an unconventional life

June 25-July 2: Bansko Nomad Fest [📍 Bansko, Bulgaria] - for digital nomads, freelancers, and founders in the mountains of Bulgaria

🤖 TECH

Reflective UI is Our New Favorite Thing & You’ll Love it Too!

Reflective UI uses your phone’s selfie camera to create the illusion that certain items on your phone are reflective, like a CD for example.

⭐️ This Week’s WFA Job:

RageCreate Project Manager

Our friends at RageCreate are hiring for a part-time Project Manager to help speed up processes and projects!

The position will include scheduling projects & deadlines, managing internal systems & content creation schedules, and helping come up with new product ideas.

Required skills include a fiery personality that’s not afraid to keep people accountable and some prior experience with project management.

This is an hourly contract position with pay rates depending on experience level and the ability to work from anywhere!

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That's it from us this week, hope you have an amazing day!