what's up guys today's episode is super simple but sometimes some of the simplest things that are most important and it's what is a UX designer and what do they do so i'm going to put five minutes on the clock i think it's a little bit detailed so but i'll try and grab as much information here as possible for you so UX designers work in a wide range of your companies and there's different job titles as well so i'm going to talk about UX designers specifically but there is also product designers and there's UI designers and they all focus on different parts of basically creating digital products so for UX designer normally it's the larger companies who hire specifically UX designers and that's just because they have bigger budgets the the websites are normally not that they could be quite small but they could have a lot of designers so you can focus more on specific things and that's a good thing because it allows you to really hone in on improving things but essentially what a UX designer's job is is to improve the digital product for customers and that improves the business because you're helping people along the way and you're also increasing revenue because you're improving things like how many times they might purchase a product from you that's that's what a UX designer's job is and there are different processes that we can go about improving things so the first thing we'll talk about is the UX design process so whenever you create a digital product you want to put it through something called the UX design process and that is it's essentially a way of creating something that is what people want and it helps solve problems so there's four stages in there and a UX designer can pop in and out of different stages and sometimes at like smaller companies like startups you might work on different projects at the same time so you might be in one stage of one and another stage of another and also depending on you you might like to focus on different parts depending on your skill set and you know what that's perfectly fine we're not all sheep we're not all the same and you know I embrace who you are and let's have a look at these different stages so the first one is research so some companies don't do much research some companies do normally um there's two different types of job role you'll really go into sometimes you'll be working on an existing website and sometimes you'll be creating something called a greenfield project which is a project from scratch and the different types of research really if you if you get like most of the time you probably go into a company which already has a product and the research that you'll be doing there really is talking to existing customers and it's probably better sometimes going into a company that has a product or service already in place because it's a little bit easier to talk to people who already use it the real hard work is building something from the ground up well if you first go into a company the first thing maybe depending on what they put you on but if they're quite new to UX maybe you might have a little say in this but I'd really try and talk to some customers and you know what it could be online surveys if you don't have access to them in real life nothing's better than getting them into the office even creating a schedule so you get to get like two customers in every Friday or something try and make this a part of your routine and then you can kind of figure out what you're going to talk to them about or maybe show them new stuff but get different people in talk to them but the real point of the research phase is to understand the problem that the website is trying to solve and the UX designer needs to understand that problem so they can basically create the simplest solution for that problem that's the job of the UX designer so there's different techniques you can use like we said before the surveys there's interviews there's talking the customers one on one but once you understand the problem you're trying to solve and also this could be looking at analytics as well which is something that a lot of people don't do but also if you've got some spare time as a designer this is actually where your value might come in so get google analytics installed make sure you get access to it and start looking at the analytics of the website and understand maybe you might identify a problem that you can solve really simply by changing a little bit of design on the website and I'd class that as part of the research phase but talking to customers identifying their problems and also identifying things in the actual problems of the website build and you'll only know that by looking at analytics so I'd say get google analytics installed maybe incorporate that like a lot of people companies won't ask you to do this stuff but I really believe as part of the UX designer your job is to understand fully how the website works and a lot of people don't maybe don't really know that much about metrics or don't understand how powerful it is but I'd really advise you to understand how powerful metrics are and maybe take a look at them but anyway that's part of the research phase and there's lots more jobs coming available so you might not be a UX designer you might be a UX researcher and you know what it's so meaty and it's so interesting and it's something that I didn't really appreciate until later on in my career but it's something that you can definitely get stuck into and go that route maybe for larger companies with bigger budgets they might focus more on UX researchers and maybe people from oh time's done I'll have to keep going I'm gonna put another I'm gonna put another three minutes on but maybe people from a more scientific background might be interested in going into this but anyway that's the research phase and that's part of what a UX designer does then there's also the design part and that's split up into two so the first part of being a UX designer is it's kind of like low fidelity mock-ups so once you know what your what your task is to make you can then make a digital version of that so I always say it's best to sketch first because you can get through loads of ideas nine of them out of ten will probably be rubbish let's be honest I certainly happens like that for me through those ones where I choose the good one then you can work with people to make sure it solves the problem you know what you can do this you can do this on a computer if you want I certainly used to love doing stuff on the computer but then it's just quicker to do it on paper and you don't you don't need to but it's just I'm just trying to save you some time but then when you have a something that solves the problem you want and this could be a problem on your website or it could be a bigger problem and this could be the journey of how a user signs up for a website or something once you've worked through that make sure you work through that first before putting detailed designing because it's just quicker to change but once you've got something that meets the criteria that you need you can do two things you can put a wireframe together which is a basically design with no like it's just like times new roman and some squares you know there's no images or anything like that and that's basically so you can really actually think about what you're doing and don't think about design so you could go that way lots of people do that way lots of people also work for companies which have a design language and that's something like the design won't change so the buttons will be the same the fonts will be the same the colors will be the same even things down to like the images and backgrounds will be the same so you could actually it's not popular say this but you could skip that phase and actually make it in the UI language if it's easier and it's already built and it's not going to change you could actually make your page like that it's personal preference at the end of the day um but that's also the job of the UI designer so some companies have UX UI designers some companies have like UI designers the person who puts the visual detail in like I just said like the um like the design language the fonts and colors so sometimes this is one job role sometimes um so product designer could be one job role normally the smaller companies you'll do more but that's also exciting because you get to impact the business a lot more but yeah then you put it like that and then the next important thing for UX designer so once you so that's that's the design part of your job so you got your research your design and then also like just as important as the testing part and this is how you prove that the thing actually works so again customers into into the lab a few places I've worked I've been lucky where they have like an actual room setup so you can bring them in and talk to them and like um you can like record your sessions and stuff and this is normally the bigger companies where they have more budget but it's also like such a man I'm going over time today I'm just gonna stop this now I don't even know why I timed these anyway probably so I make it a bit more concise so I don't go on like this but this is a super important lesson but yeah you get customers in you talk to them and you test what you're doing so part of the design phase you'll make a prototype and you can do that in Adobe XD and Figma sketch envision all these different tools make the prototype actually observe people using it because I've thought I've designed something amazing for yeah we all get big headed when we design something and then to see people like you're using it and tearing it to shreds effectively is um is interesting and if you're humble enough you'll be able to change the design if you're quick enough you can change it and test it again with more people on the same day if you can think on your feet because you will see the same thing come up and up again and you might be like oh no one can see that button because it's blue on a blue background it'll be obvious when you see people using it you might think it looks nice but then you'll just notice people not being able to use your product so be humble accept the changes and then at the end of the day once your testing's done and that could be in person online milling different ways you'll have something that you can release and you know how it's going to perform because you know you've tested it and it's gonna you've seen people using you know it's going to perform well so there we go research design testing and then once it's done and released look at your analytics and go back into the research phase because this is the most exciting part because you can actually change like what like I said like you know we adapted on the fly one we were doing testing you can also do that when it's released if you look at the analytics and notice that 99% of people are bouncing on your home page change your home page man just like just just lucky analytics this is en masse how your website's performing the scorecard and your job as a designer is to suggest the easiest things to make the biggest improvements because they're the things that are going to get done and they're the things that are going to bring you the books at the end of the day and also make your customers happy because all you're doing is looking at what how people are using it's like you know when you have a path and then you'll see a path go on the mud off to the side if that was analytics it's obvious just build another path there because then that's the route people want to take so make people happy and improve your business and improve everything else at the end of the day guys I hope you enjoyed that lesson if you want to watch more of the videos they're coming up now let me know in the comments what you think you might completely disagree but I really think it's down to personal preference like who you are as a designer like I might be more UI focused because that's where I came so maybe I might skip out wire frames and do some more stuff like that but really depends on the company I've worked in like five or six different places where they're entirely different and no one's right or wrong it's all personal preference I hope that helped UX design guys until next time keep designing and take care


In Northwestern Canada, U.S. and Canadian engineers are rushing trucks, supplies and road-building equipment for the new Alaska Highway, pushing across the frozen Peace River before the river thaws. Here from a tent city in the heart of the wilderness, the Army wages a war against nature and the elements. In 30 below zero temperature, they're blazing a trail for the construction of a 1,500-mile military highway from the United States to Alaska. Factors crash through the forests of Virgin Timber, rolling ahead at a pace that will see the road open within a year. To Alaska, for the nation that controls this strategic outpost holds the gateway to the world. In California, the speedboats race against a backdrop of oil wells. After working all day on their war jobs, daredevil amateurs find relaxation behind the wheels of their roaring little motors. Today, they breeze around the nautical course in a regatta for the championship. No slowing up for the turns and somebody gets a ducking. This is what you call real rough riding, and the spills are all a part of the thrills when the speedboats race for the gold trophy, fleets of giant air, big enough to carry troops and mechanized equipment to the far corners of the world. Those, the first of the mammoth airliners, is tested by the Army. Just how many soldiers it can accommodate is a closely guarded secret of the U.S. Air Force. But this gives you a pretty good idea, infantry of the air flying direct to the scene of battle. Inside, they sit on specially built seats with parachutes for their cushions. There's still plenty of room for additional equipment. Rolling right through doors big enough to admit a tank. Per engines, might hear than any ship in commercial service, speeding 25 tons across land and sea as fast as a combat plane, planes that will change completely the timetables of the world. The capital of Suriname, South American outpost of the free Dutch, now cooperating with the United States and Brazil. Here, Netherlands Marines form the nucleus of a rapidly growing military force. In American built tanks, they patrol this vital gateway to the Caribbean, alert for any attack from sea, land or air, or the Germans scuttled a ship near the river's mouth in an effort to block navigation. For down this little stream comes ships from the important box-side mines in the interior. But the destruction of that vessel was in vain, and daily traffic increases as freighters plie back and forth through tropical wilds, bringing out the vital aluminum ore so necessary to the manufacture of war machinery. Crews keep their weapons ready. Every possible precaution is taken to speed unhindered the flow of the precious metal. The box-side is brought to the river by train. From heavily guarded plants, it pours into the holes of United Nations ships, bound for the aircraft plants of North America, and as the free Dutch work day and night to further the United Nations war effort, their Queen Wilhelmina of the Netherlands rides with President Roosevelt to the Washington Navy Yard. Here by the President's order, under terms of the Lend-Lease Agreement, a new submarine chaser named for the Queen is presented to the Dutch Navy. Her majesty goes aboard and finds a crew of her own countrymen, veterans of the Netherlands fleet which so valiantly fought the first Japanese attack in the Southwest Pacific. Ready for battle, the little warship is ordered for service with the U.S. Navy. Loudly flying the flag of a people who have vowed to their Queen, no surrender. Here's the folks at home, a sample of what it's like to be a soldier. On the double quick, they stage a show of thrills. Scout car is taking the spotlight before thousands in a great Detroit arena, being into space. Infantry putting on a sham battle that's almost like the real thing. Flamethrowers staging a spectacle of the Army's weapons. Promotion day at a U.S. Army flying field, somewhere in the west. Promotion day for a record force of aerial gunners, newly elevated to wear the stripes of staff sergeant. The commanding officer, General Robert Olds, impresses his air marksman with the importance of their jobs. For in their sharp shooting eyes lies the safety of the bombers from attack by fighter planes. Squeezing into blisters or gun positions, they prepare to go aloft. The planes bear names which only their crews understand. They man the weapons that put the sting in the bomber's tail, trigger fingers itching to let them have it. Now in token salute to the new gunners, the big ships roar across the sky. The famous American Kitty Hawk fighters are gaining quite a name for themselves with Australian aces. Here at a secret base somewhere down under, veterans of campaigns over England and the Middle East give fledglings a demonstration of what the Kitty Hawks really can do. Looking off from runways hewn from the jungle, they roar aloft. The camera plane recording their dramatic flight in aviation seems rarely equal. Above the clouds, they gather in the tight formation pursuit planes use for safety, quadrupling their firepower as they dive to the attack. Victory roll, the flyer signal to his home field that he has met and downed an enemy plane in combat. Now swooping across the air drum at incredible speeds, they stage a show that in peacetime would be sensational. Today it's all a part of the grim, deadly job of war, Australian aces writing history in the skies.


Good day fellow investors and welcome to the traditional stock market weekly news with a fundamental twist. Today we're going to discuss Janet Yellen resigning. We're going to discuss the Fed minutes. Very important to read them at least once in your life if you haven't. Then we're going to discuss youth unemployment and human capital and the effect of human capital on the wealth of nations. Let's say on development and on future potential and of course stock market returns and then we're going to conclude with house prices in relation to stock prices to discuss a little bit how stock prices move much sooner than something actually happens and much faster than house prices which is very very interesting and then I will end with a question for you whether there are any entrepreneurs watching this video. Let's immediately start. Janet Yellen said she will leave the Fed board even if she was expected to be there until 2024. Of course I have already been discussing this 71 years old moral hazard if what she has been doing was wrong and it proves to be wrong in the next 10 12 15 years she couldn't care less. She says ask Alavista I'm retiring I'll be teaching doing some speeches and have a nice life whatever happens. So just a question just something to think about we really tend to think that the older a person is the wiser the person is thanks to experience. However somehow I come to the conclusion that the older the person is the more in a powerful position the person is just means that the person didn't make that much enemies during a lifetime. They are incredibly smart people however they think a little bit different than the majority and they would do a great job perhaps painful in the short term but great in the long term in such positions. Unfortunately such persons will never be presidents will never be politicians will never be central bank leaders because that would hurt in the beginning and that's something that creates enemies people don't like it nobody likes it. We are all wired for immediate gratification and not long-term gratification. So it's very interesting how it works who is put in which position and who makes the calls on what will happen in our lives because it's all about our future usually 60 70 year olds. I don't know if that is smart nevertheless something to focus on and something to really read if you haven't ever read are the Fed minutes it's a 10 12 sometimes it goes to 20 pages sometimes there are pictures sometimes there aren't however it's what the Fed members have discussed in their Fed meeting when they announce whether they will raise or lower the interest rate they just tell what are their conclusions in the Fed minutes they tell what are their worries what are their uncertainties and by reading those minutes you can see okay the Fed isn't that certain about what's going on there are fears there are mistakes and so so let's dig into the Fed minutes just a few points to see what you can get there and what you can learn from there that's very important for anything that will happen in the next 10 20 years. Now the big change in the attitude is that many participants observed that there was some likelihood that inflation might remain below 2% for the longer than they currently expected so now suddenly change in environment inflation might remain below 2% why because secular influences such as the effect of technological innovation disrupting existing business models that is likely offsetting cyclical upward pressure on inflation and contributing to below target inflation. And here I want to discuss reflexivity again low interest rates a lot of companies borrow at Daimler in Europe borrows at negative interest rates it means that their cost of capital is below zero it means that they can really be competitive around the world and produce cheaper cars and force other producers in the world to produce cheaper cars so everything is cheaper also thanks to interest rates I wonder why the Fed doesn't get it that there is potential correlation between low interest rates and low inflation even if economic theory would say that low interest rates would have to spur inflation higher however there's so much competition the world yes is shifting from producing goods to services where you don't have so much demand for hard goods and then of course services cars technology software everything is cheaper because cost of capital is cheaper perhaps when we will actually see higher interest rates we will also in the long term see healthy inflation however the Fed doesn't get it because those in those boards are those people who haven't pissed off anybody during the last 50 years in their careers and they have slowly slowly came to that position if you piss off somebody by saying something different by doing something contrarian you won't become a Fed member so that's life so again they are really sticking to economic theory instead of looking at new ways new things that could disrupt that economic theory one of my ideas is that low interest rates created still holding low inflation what's also very important in their comments regarding financial markets participants generally judged that the financial conditions remain accommodative many forget that but the economic environment we are living in Europe Japan United States is still accommodative is still an environment of easing if we feel well if we look at how much consumers are going to spend for black friday everywhere there is craziness about black friday netherlands where i live in the states and then nobody is worried about the economic environment because there is so much money and everything is good however people forget to realize that it is all thanks to central banks being still accommodative that's something to really remember if and when the tide turns if it will ever turn it will be a completely different ballgame however the Fed participants are a little bit worried about a potential buildup of financial imbalances thanks to high valuations but then immediately the conclusion was it was noted however that elevated asset prices could be partly explained by a low natural rate of interest which doesn't lead to potential reversal in valuations so the stock market and high valuations high asset prices are really fueling the economy because people are wealthier they feel wealthier they spend more which does well for the economy and even the Fed is now worried that a reversal in valuations would affect the economy not just the stock market but the economy and therefore we can be assured that the Fed will keep backing the SAP 500 because that's their goal as long as they can do it they will try to control it and keep stocks high which is very good for those invested and for those who know how to take advantage of the situation now something else I want to discuss today is the youth unemployment rate the youth unemployment rate if we go from the lower line 2017 now we have Germany very low close to 7 percent then we have China India below 10 percent US at 11 percent Brazil at 25 percent and Italy close to 40 percent youth unemployment measures unemployment among those looking for a job between 16 and 25 years old now why do I mention this is very important because look at Italy 40 percent of youngsters are unemployed imagine the human capital development gap that is created there because as they don't work they don't develop the skills they don't develop the competitiveness they don't develop what will lead the country in the future as we know for example Italy in 10 years 40 percent of the population will be above 65 but the young population will be unable to lead the country into better times so if you really want to invest in the long term I think youth unemployment and human capital is very very important to watch the quality of human capital how many languages people speak what is their education level what is their global competitiveness from a human capital perspective very very important if you invest accordingly you will see that you will profit in the long term I'm very happy to see that China and India are doing amazingly on that field just a quick story on human capital two countries similar countries Jamaica and Singapore both countries became independent in the 1960s 1960s free I think from the Commonwealth now Jamaica had agriculture some mining resources great position tourism position great location close to the US and decided to develop tourism take depth invest and base their economy on somebody else tourists from the US Singapore instead decided to develop human capital Singapore was smaller than Jamaica no natural resources a lot of lowly skilled immigrants from India from other Asian countries that used to work in the docks when it was under British rule and then Singapore decided okay will this develop human capital Jamaica decided we will develop tourism just to make the story short if we look what happened later Jamaica they started with a GDP per capital of five hundred dollars 50 years forward Jamaica is close to five thousand Singapore 50 years forward is close to 50 000 difference between human capital development and something else however what is very interesting if we look here from 1963 when they became independent we can see that Jamaica was leading in the first four or five years and then Singapore simply took off this is because investments in tourism yes they improved the country immediately but they like to improve the human capital which is essential for long-term economic development so really focus on human capital also on a personal note if you develop yourself continuously you have nothing to worry about recessions about stock market crashes finding a job creating a life the more you value as Buffett would say the best investment is always the one you make in yourself so not so related to the stock market but very very interesting to see how that works and how that affects the whole economic system let's go to home prices and stock market this is the home price index in blue and the stock market as you can see from 2008 the stock market crashed extremely fast the home price index was crashing at a much much slower rate okay stocks crashed from 1500 points to 750 points 50 percent the home price index just about 20 percent and there is a big difference if you look stocks bottomed in 2009 march 2009 home prices bottomed in march 2012 so there is a free year difference between the bottoming of stocks and home prices then home prices slowly started to recover following what happened in the stock market and this is very interesting because it shows how stocks react very very quickly because they are very liquid and a lot of speculators own stock a lot of people try to speculate with stocks however real estate there are different fundamentals and there really a lot of economic fundamentals are shown jobs how many people can get the mortgage what is the interest rate what is the debt burden on the community and so so it's extremely interesting to follow how stocks and the stock market anticipates what's going on and what will happen in the economy and reacts really irrationally but how home prices really rationally slow down in a recession fall and then pick up as economic activity and monitor monetary easing speeds up so it's a very interesting time difference and something to really take advantage if you're thinking about diversifying from real estate into stocks or from stocks into real estate to really take advantage of difference between the effect the economy has on different asset classes the same thing happened in the Netherlands we can see that the home price index peaked in 2008 going into 2009 and then slowly slowly declined until 2015 when you know who bought his real estate property in the Netherlands since then prices have really recovered especially around Amsterdam yay and I want to finish today with the question if there are any entrepreneurs there we are discussing on this channel stock market where I share my fundamental my macroeconomic research with some stock picks now stock market investing is not so motivating not so inspiring you don't even know but I have been teaching entrepreneurial finance for three years at university and I loved the subject the only problem was that my students didn't want to become entrepreneurs when I would ask how many of you would like to become entrepreneurs one out of 30 would say maybe so I don't know how that comes that 20 year olds 21 year olds don't want to become entrepreneurs or it was just in my school where I was teaching nevertheless if there are any entrepreneurs here I was thinking just for the motivation just to do something really positive once twice a week to start an entrepreneurship channel where I would share my personal entrepreneurship part as I convinced myself from my teachings to quit my job and become an entrepreneur what I learned being an assistant professor in entrepreneurial finance will and so share a little bit science a little bit knowledge a little bit fundamentals and then try to motivate anybody who wants to become an entrepreneur not become the next next facebook but become financially independent let me know what you think about the entrepreneurship idea just to shake a bit my life to make it positive stock market investing is mostly about risks stock market analysis and calculations entrepreneurship is all about heart so let me know if you'd like to watch videos about entrepreneurship in the comments thank you for watching click like if you like the content subscribe if you haven't yet and I'll see you in the next video