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| | | Quote of the Day | | | "I would have to follow up with you on that one" – A forestry official, after being asked whether the Forest Service can change the Earth's or moon's orbit to stop climate change. Next question. | | | | | |
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| The Itty Bitty Bitcoin Committee |
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The Story El Salvador has made bitcoin a legal currency. Big move. The Central American country doesn't have its own currency. Since 2001, it's used the US dollar. And its economy is still recovering after more than a decade of civil war. Social inequality, a high crime rate, and reports of government corruption don't help. With bitcoin's recent rise in popularity, and since the crypto's decentralized (aka it's not controlled by banks or governments) – Salvadoran lawmakers decided to place a bet on the coin. It's the first country in the world to give it a shot. Crypto magic. Now, within 90 days, prices for goods in the country will be shown in US dollars and bitcoin. Businesses can put up their 'bitcoin accepted here' signs. And the gov plans to set up a process that would allow bitcoin to be converted into US dollars. On top of that, those who use the cryptocurrency won't be taxed on their capital gains. The gov will also promote training so Salvadorans can access bitcoin transactions. Important since 70% of the population lack access to traditional financial services. But the move is getting some mixed reviews. I had a feeling you'd say that. Bitcoin can be quite volatile. And critics say it may not be the best option for one of the poorest countries in Latin America. Some worry it could exacerbate gang problems – with many now able to turn bitcoin payments into US dollars with the gov's help. Others point to the huge impact bitcoin mining can have on the environment. But President Nayib Bukele reportedly wants to use geothermal energy from volcanoes (yes, volcanoes) for that. And says the cryptocurrency could make it easier for families living abroad to send remittances back home – which make up 23% of the country's GDP. theSkimm El Salvador's the first country to take an official bite out of bitcoin. But the move is leaving some bit-ter about the drawbacks.
Psst...got more questions about crypto? We've got answers. | | | | | |
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What's got everybody talking... This watchdog report. Yesterday, a new inspector general's report said that federal police didn't clear peaceful protesters from Lafayette Square so then-President Trump could have a photo-op. Last June, officers fired tear gas at demonstrators there who were protesting racial injustice days after George Floyd's murder. Later that day, Trump had a photo-op in front of a nearby church – which drew major criticism. Now, the investigation concluded that police removed the protesters so a contractor could install fencing – not for the former president's photo. And that law enforcement officials failed to properly communicate when it came to their use of force against the protesters. Trump thanked the IG for "totally exonerating" him. But a House committee said it will investigate why "heavily armed law enforcement attacked peaceful civilians" in the first place. | | | | | |
Who's buying a round of shots... The Biden admin. Today, President Biden is expected to announce he's buying 500 million doses of Pfizer's coronavirus vaccine. And will donate all of them to COVAX, a WHO initiative aiming to get coronavirus vaccines to poorer, developing countries. The first 200 million Pfizer doses could be sent out as soon as this year, and the remainder shipped out next year. This comes as the US and other wealthy govs that snatched up vaccine supply face pressure to step up amid dropping case numbers. But activists still want world leaders to do more – including setting up vaccine manufacturers overseas and sharing the tech to develop them. | | | | | |
What's coming to an end… The Keystone XL pipeline. Yesterday, Canada's TC Energy announced it's pulling the plug on its controversial project. Former President Trump had given them the go-ahead after the project had been stalled for years amid court challenges and protests. But on his first day in office, President Biden revoked a key permit for the pipeline (which would've carried oil from Canada to Nebraska). Canadian officials had apparently been working to get Biden to change his mind but the president said 'no backsies.' Now, TC Energy is saying it's going to coordinate with regulators, stakeholders, and Indigenous groups to safely exit the project. | | | | | |
What's been blacklisted... Alexei Navalny's organizations. Yesterday, a Russian court outlawed the opposition leader's orgs – deeming them as extremist. Navalny has been behind bars since January when he returned to Russia after being poisoned with a nerve agent. Now, people could go to prison for things like working with Navalny's orgs, donating to them, and even commenting on social media. It comes as the Kremlin has suppressed opposition groups. And ahead of next week's meeting between President Biden and Russian President Vladimir Putin. Navalny isn't standing down. He denounced the court's action and a statement on social media read "we will not abandon our goals and ideas." | | | | | |
Who's hitting the renegade… President Biden. Yesterday, he revoked former President Trump's ban on Chinese-owned apps TikTok and WeChat. Last year, Trump tried to restrict the apps saying they were threats to US national security. The whole issue got tied up in federal court, and kids still do whatever it is they do on TikTok. Now, Biden threw the ban out and instead directed the Commerce Dept to review foreign-owned apps that "present an undue or unacceptable risk" to the US. | | | | | |
Who's getting 'une petite soeur'... The Statue of Liberty. France is sending a new bronze statue that is 1/16th the size of the OG in time for Independence Day. Merci. | | | | | |
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| | Q: What does it take to save $100,000 by 25?
Tori Dunlap: [I boosted my income and savings in three ways…]
A side hustle: My first year of freelance social media marketing made me quite a bit of cash that I could immediately save. I was also able to establish both a SEP IRA and a fully-funded emergency fund with my earnings.
Investing: I wanted to start investing early to have my money work for me. Once I started my first big-girl job, I opened my first Roth IRA. Starting to save for retirement at age 22, I was able to max out my Roth each year and also contribute to the SEP IRA and a non-retirement investment account.
Negotiating: Negotiation was always part of my life. I grew up with parents who knew how to do it [and I watched and learned]. So, when I was offered my first social media freelance gig, I negotiated for $10,000 more than they offered. And after achieving a 20% bump at my first 9-to-5, I negotiated $20,000 more than what was offered at my next job. And $10,000 more at the next job.
Read the rest of our Q&A with Tori, founder of "Her First $100K." And for more As to your money Qs, sign up to get our Skimm Money newsletter in your inbox every Friday. | | |
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| | As people throughout the country and the world prepare to return to work, millennial women are still facing the consequences of another 'once-in-a-lifetime' crisis, aka the shecession. Our co-founders and co-CEOs Carly Zakin and Danielle Weisberg opened up about how the pandemic is affecting working women. Plus, what policies and opportunities need to be in place for women to make the "Great Return" the "Great Her-Turn" after a year filled with job loss, career changes, growing families, and a deeper look at mental health. Read more here. | | |
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| | Here are today's recs to help you live a smarter life…
1. Pants for when you don't feel like wearing pants. Aka always. The Brooklyn Ankle Pants by Athleta are soft, lightweight, and stay wrinkle-free. And they come in neutrals that pair easily with tanks or tees. Hi, endless on-the-go looks. Shop on.*
2. A delicious alternative to your second (or third) coffee. These vegan bars are 90 calories and have as much caffeine as an espresso. Sans jitters. And you can try four of their best flavors (like pumpkin spice latte) for less than $1. Welcome bar-istas.*
3. Mother Earth-approved shower products. This brand's new shampoo and conditioner set is made with all-natural ingredients. And it's designed to reduce plastic waste, one aluminum bottle at a time. Use code SKIMM35 for 35% off the hair care set. Reduce. Reuse. Rinse. Repeat.*
4. Wearable tech that can help you destress. This wristband trains your nervous system to be, well, not so nervous. It uses touch therapy to help your body calm down, relax, and fall asleep faster. PS: Skimm'rs get 10% off. Sweet dreams.*
5. A brush that'll collect pet hair like a pro. So you got a dog during the pandemic and now your home is covered in fur. This roller can remove hair from couches, beds, comforters, blankets, and so much more. Once it's full, just empty the dust compartment and restart. Good as new.
PS: Like what you see here? Make sure you're signed up to get more picks like these in your inbox every Thursday. We've got exclusive shopping recs, streaming ideas, life hacks, and more. | | | *PS: This is a sponsored post. | | | |
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| | We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community.
Dynamic duo...Beth G (CO). Her company Threads Worldwide has continued to support women through pandemic shutdowns by providing them with sustainable work. And she gets to do so with the help of her 17-year-old daughter. Learn more.
Career moves...Carol Anne S (NY). She's been promoted to be a clinical professor at the University of Rochester. There, she is a director of reading, literacies, and a fierce fighter for literacy.
(Some) Birthdays...theSkimm's Elyse Steinhaus (NY), Graham Maxwell Schneider (NY), Heather Shapiro (FL), Gabi Richter (NY), Kelly Dineen (GA), Iryna Kokovskyy (CT), Jordan Gargasz (OH), Blanche Reese (GA), Jennifer Goodman (NC), Marybeth Lambert (PA), Christine Nogueira (CT), Andrew Scrugham (TN), Gleeson Cox (NY), Beth Rupp (IN), Sara Velasquez (FL), Martha Spangler (NE)
*Paging all members of theSkimm. Reach out here for a chance to be featured. | | |
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| | Looking for other smart ways to spend your time? -
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| Skimm'd by Rashaan Ayesh, Maria del Carmen Corpus, Mariza Smajlaj, Clem Robineau, and Julie Shain | |
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