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How to Plan for the 4th Industrial Revolution

Hi there! You new here? We love that you found our gay little corner of the web. Here at Debt Free Guys, we’re all about helping queer people live lives they truly love inside and out. We think happiness is a 360-degree experience (purpose, love, money, wellness, and lifestyle) that you also deserve. After reading our article below, see how we can help you more here.

How will the fourth industrial revolution impact the LGBTQ community?

Are you prepared for the fourth industrial revolution? If previous industrial revolutions are any guide, LGBTQ must prepare to be blamed for this inevitable change. Find out why and how on this Queer Money®. Meanwhile, get your free guide for the  5 Building Blocks of a Happy Gay Life here.

Hear Paul Donovan’s to conquer times of change

Fight the prejudice and economic upheaval in the coming industrial revolution

Paul Donovan serves as Managing Director and Chief Economist at UBS Global Wealth Management, where he does research and writes about a wide range of macroeconomic and policy issues. His key areas of interest include income inequality, the impact of prejudice on economic growth and the intersection of politics, economics and financial markets. Paul is also the author of the new book Profit and Prejudice: The Luddites of the Fourth Industrial Revolution.

On this episode of Queer Money®, Paul joins us to discuss the emerging fourth industrial revolution and explain why prejudice grows in times of economic turmoil. He weighs in on how the queer community can counteract the prejudice that might come our way, challenging us to be visible and tell our stories. Listen in for Paul’s advice on navigating the fourth industrial revolution successfully and learn how to find a company with a true culture of inclusion.

Topics covered on industrial revolutions

How Paul defines the fourth industrial revolution

  • Structural upheaval in the economy, transform the way the world works
  • The democratization of communication, robotics, AI, automation

Paul’s insight around the original Luddites

  • British group formed in late 1700’s to protest mechanization
  • Blamed Presbyterians and Catholics for loss of livelihood

5 Building Blocks of a Happy Gay Life

Why people fight industrial revolutions

  • Hard to reconcile long-term positive gain with loss of status
  • Resent watching neighbor’s status improve (loss aversion)

The appeal of prejudice in times of economic turmoil

  • Job loss not your fault, minority group to blame
  • Provides a sense of superiority and community

The concept of restorative nostalgia

  • Just need to restore the past to make everything okay again
  • Turn back change and get rid of certain groups

How credit masks the wealth disparity

  • The illusion that the standard of living higher than actually is
  • Demonstrate success to win approval, leads to debt

The queer community’s role in the fourth industrial revolution

  • Visibility of the LGBTQ community means the risk of prejudice
  • Parasocial contact shows others we’re NOT less than

How the LGBTQ+ community can counteract prejudice

  • Make people ‘just a little bit’ uncomfortable
  • Be visible and tell our stories

Paul’s advice for those of us looking to break into a new industry

  • Large companies more likely to have a culture of inclusion
  • Leverage LGBTQ+ online professional networks

What we can do to succeed in the fourth industrial revolution

  • Accept that the current role will evolve and be flexible
  • Find something you truly enjoy

Paul’s perspective on formal and informal prejudice

  • Rate of prejudice 2x higher than people willing to admit
  • Victims keep quiet about experiences and self-censor

The challenges of measuring inclusiveness in corporate culture

  • Genuinely embrace diversity vs. box-ticking exercise
  • Can’t capture signals on an index (e.g.: sign amicus brief)

Connect with Paul

Resources for your finances

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