The Futures - No. 40
Millennials forced to side hustle / The commercialization of carbon removal solutions / Google’s losing battle against plagiarized AI content
In this issue
The Quantumrun team shares actionable trend insights about Millennials being forced to take on more jobs, the urgency to scale up carbon removal technologies, Google’s unpreparedness to handle AI content, and NASA’s quiet, supersonic plane.
Future signals to watch
Google News has been found to inadvertently promote AI-generated content that plagiarizes other sources due to its focus on combating spam rather than the origin of the content. This situation highlights the opacity of Google News' ranking system and Google's unpreparedness in moderating AI-generated content in terms of quality and originality.
California’s Dos Rios State Park Ranch has been restored as a floodplain, successfully mitigating flooding and helping rejuvenate contaminated aquifers in nearby communities.
Artificial intelligence led to a 32% average increase in the return on investment for ads on Meta Platforms Inc.'s applications.
Robotics firm Figure has secured its first commercial contract, deploying its versatile humanoid robots for practical tasks at BMW's production facility in South Carolina.
Social media platforms like Facebook, TikTok, and YouTube are seeing an increase in fake videos featuring celebrities promoting fraudulent services, as observed in over 50 such videos reviewed by NBC News.
Researchers reported in ACS Central Science the assessment of a carbon-based, earth-abundant cathode material that could substitute cobalt and other rare, toxic metals in lithium-ion batteries without compromising performance.
Startups are challenging Nvidia's dominance in AI hardware by proposing innovative designs for computational chips to capitalize on the AI boom.
NASA and Lockheed Martin unveiled the X-59 quiet supersonic aircraft, an experimental plane designed to exceed the speed of sound without loud sonic booms. The X-59 aims to influence regulatory changes on commercial supersonic flight over land, flying at 1.4 times the speed of sound while mitigating the disturbance caused by traditional sonic booms.
Culturally // Trending
YouTube → Avatar: The Last Airbender // X → Martin Scorcese, the most Oscar-nominated director // Reddit → “Water bottle” // TikTok → Sephora’s youngest customers // Instagram → Schiaparelli’s extraterrestrial fashion // Spotify → “redrum”
💡 Watch Quantumrun’s trend videos on Linkedin & YouTube & Instagram & TikTok
🧑💻 Millennials are forced into side hustling
Generation Z, often associated with having multiple side hustles, is not actually the generation most likely to juggle multiple jobs. Research from H&R Block’s Outlook on American Life Report indicates that Millennials (1981-1996) hold this distinction. The report, which analyzed over 20 million tax filings, reveals that Millennials are more inclined to maintain full-time employment along with an average of two additional jobs. Furthermore, a significant portion of Millennials are drawn to app-based companies like Uber, Lyft, and TaskRabbit for extra earning opportunities, and they are also the most likely to rent out their homes for additional income.
Meanwhile, according to a June 2023 Bankrate survey, Millennials not only earn the highest average income from side hustles, at USD $1,021.83 per month, but they also express the most concern about job security, with 42% feeling uncertain in March 2023. This contrasts with lower earnings and concerns among other generations, with Gen Z earning an average of $753.48, Gen X $670.36, and Baby Boomers $645.97 monthly. Furthermore, the trend of job mobility is more prominent among younger workers, as evidenced by 17% of Gen Z and 13% of Millennials quitting their jobs between March 2022 and March 2023 compared to only 7% of Gen X and 3% of Baby Boomers.
The increasing reliance on side hustles is largely attributed to inadequate earnings from full-time jobs, particularly in the service industry where the median hourly wage is below the basic living wage. This trend is not limited to the service sector; half of North American workers feel underpaid, according to ADP's 2023 survey. Additionally, economic indicators suggest a weakening job market, driving more people towards side hustles for financial stability.
Actionable trend insights as younger generations maintain side hustles
For entrepreneurs
Entrepreneurs can develop platforms that integrates AI to optimize gig workers' schedules, balancing their multiple side hustles. This platform could use machine learning algorithms to analyze peak earning times, geographical locations, and individual skill sets to recommend the most profitable and efficient work schedules.
They can create localized communities, in person or online, where members can share tips and collaborate on local gig employment opportunities.
For corporate innovators
Corporations can create internal platforms that allow employees to engage in side projects or roles within the company in exchange for bonuses, applying their diverse skills beyond their primary job functions. This approach not only harnesses the multidimensional talents of the workforce but also increases employee engagement and retention.
For public sector innovators
Governments can create partnerships with online educational platforms to offer subsidized or free courses for citizens, focusing on skills that complement popular side hustles. These courses, tailored to regional economic needs, could range from digital marketing for small business owners to software development for tech enthusiasts.
Local governments can establish incubator hubs that provide resources, mentorship, and networking opportunities for side hustlers and small business owners. For instance, a city could set up a hub with resources for craftspeople and artists, providing not only workspace but also guidance on marketing, online sales, and export opportunities.
Trending research reports from the World Wide Web
The UK’s National Police Chief Council discusses the future of policing, including using robots and predictive modeling.
According to the OECD’s report on the future AI-driven workforce across OECD members, it is predominantly highly educated, mostly male, and demographically similar to the overall tertiary-educated population in terms of age and national origin.
According to the latest Human Development Index Trends (1990-2021), Switzerland is consistently at the top spot in terms of its citizens living a healthy and educated life.
Deloitte thinks that European leaders are less engaged with generative AI than their counterparts in the Americas and Asia-Pacific, with over 20% of them believing their industries and organizations are underestimating its potential and implications.
An October 2023 survey revealed that 35% of game developers experienced or witnessed layoffs at their companies, with quality assurance workers being the most affected.
♻️ The urgent need to scale up the carbon removal industry
As climate change looms as one of humanity's most daunting challenges, the quest for effective solutions has never been more urgent. At the forefront are marine carbon dioxide removal (mCDR) methods, including enhancing natural processes and exploring novel strategies like seaweed cultivation, water pumping, and chemical alterations. However, Brad Ack, CEO of the nonprofit consortium Ocean Visions, acknowledges the concerns about using emerging technologies for oceanic carbon removal.
Ocean fertilization, which involves adding nutrients to stimulate plankton growth, can lead to harmful algal blooms and disrupt local food webs. There's also concern about how these interventions might affect ocean chemistry and biodiversity. In addition, many mCDR techniques are still in their infancy and lack comprehensive understanding. Nonetheless, the ocean remains the world’s largest carbon storage resource, and this potential needs to be developed.
The carbon removal industry is at a pivotal point, poised to reach gigaton scale by 2050 with the right mix of policy frameworks, public sector partnerships, and technological innovation. Drawing parallels with the development of solar panels and iPhones, this industry requires a deep understanding of the technology-development playbook tailored to the unique needs of carbon removal technologies.
Significant policy progress has been made since 2015, transitioning from a concept confined to university labs to a budding industry with substantial public and private investment. Landmark investments, such as the Bipartisan Infrastructure Law and the Inflation Reduction Act in the US, have catalyzed the sector, evidenced by the capture and storage of 2.3 million tons of carbon by 2021 and the planning of over 300 demonstration projects for 2024.
In December 2023, MIT scientists developed a groundbreaking process that converts carbon dioxide into sodium formate, a powdery fuel. This method, which involves catalysts and electrolysis, offers a safe and long-term storage solution, addressing previous challenges of high energy requirements and storage difficulties in CO2 conversion. However, the challenge remains in scaling this laboratory solution into a commercial product, a process often fraught with challenges in securing necessary space and funding.
Actionable trend insights as carbon removal solutions are commercialized
For entrepreneurs
Entrepreneurs in the agri-tech sector can create a startup that offers a specialized "Carbon Farming Kit," which includes silicate rock additives, soil testing equipment, and a mobile app for monitoring carbon capture progress. This kit could be marketed to small and medium-sized farms, providing them with a tangible way to participate in carbon removal while potentially enhancing soil quality.
Businesses in the fashion and textile industry can harness carbon removal technology by creating lines of clothing made from carbon-captured fibers. This could involve collaborating with companies that specialize in converting atmospheric CO2 into usable polyester or other textile fibers.
For corporate innovators
Companies in the construction and building materials sector can explore the development of carbon-negative building materials. One innovative approach is creating bricks or concrete that incorporate biochar, a stable form of carbon from organic waste. Firms could partner with waste management firms to source biochar, thus turning waste into a valuable resource.
Corporations can collaborate with carbon sequestration companies to buy carbon credits from their operations.
For public sector innovators
Government agencies involved in urban planning and infrastructure can integrate carbon removal technologies into public transportation systems. For example, they could invest in research and development of algae-based biofuel stations alongside bus stops or train stations. These stations would not only provide fuel derived from algae, which absorbs CO2 as it grows, but also act as active carbon capture sites.
Public sector entities can explore integrating carbon removal technologies into marine infrastructure projects. An example is constructing artificial reefs using materials that facilitate ocean-based carbon sequestration, such as bio-enhanced concrete that absorbs CO2. These reefs would serve as carbon sinks, enhance marine biodiversity, and protect coastlines from erosion.
Outside curiosities
This viral video of a Cloudflare employee being fired without her manager’s knowledge sums up the current job market.
Drought has led to a 36% reduction of ship crossings in the Panama Canal.
These smart binoculars can point out birds and other animals.
Adidas is taking vintage to the next level by selling sneakers that already look worn out.
Is TikTok helping the rom-com comeback?
More from Quantumrun
Read more daily trend reporting on Quantumrun.com
Subscribe to the Quantumrun Trends Platform (free for premium newsletter subscribers).
Corporate readers can review our Trend Intelligence Platform
Email us at contact@quantumrun.com with questions or feedback.
Finally, share your thoughts in the Substack comments below. We love hearing from you!
David Tal, Quantumrun President: Interested in collaborating with the Quantumrun Foresight team? Learn more about us here.
See you in The Futures,
Quantumrun