Take a Career Break, but Stay in the Game
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Take a Career Break, but Stay in the Game

Lay the groundwork for a return to work when you want by networking, setting boundaries and getting recruiters to come to you.

By RACHEL FEINTZEIG
Tue, Mar 15, 2022 11:39amGrey Clock 4 min

You got burned out. Your kids needed you. You became a crypto millionaire overnight.

Whatever the reason—congrats. Welcome to your career break, length TBD.

Time off by choice can be wonderful if you can swing it, a chance to recalibrate your priorities and detox from the stress of the working world. It can also be a kind of limbo. How to keep your edge without getting sucked back into corporate overwhelm? How do you know when it’s the right moment to job hunt again? And what comes next, anyway?

“It’s the ‘I don’t know what I want to be when I grow up’ kind of feeling,” says Tami Forman, the executive director of Path Forward, a nonprofit dedicated to helping people re-enter the workforce.

Those on work breaks can flounder, unsure what to do once they’ve stepped off the corporate conveyor belt that for years powered their careers, she says. And hiring managers, flooded with job applicants and their own work, often opt for the easiest choice: picking someone who’s currently doing the same job somewhere else.

Don’t be cavalier about what it will take to get back into the workforce, Ms. Forman advises. Start looking before you’re ready.

Carve out five minutes every morning to send a relevant article to two former colleagues, saying why it made you think of them. Ask that parent on the sidelines of the soccer game, the one with the cool job, if they have time for coffee. Explain that you’re on a break and not looking yet, but you’d love to learn more about their role and experience.

“People will be much more open to talking about what’s going on at their company if they don’t think you’re going to say, ‘Can you put my résumé on someone’s desk?’ ” Ms. Forman says.

Brett Delgado, 37 years old, stays in touch with former co-workers via Instagram comments, Discord video chats and online gaming. He left his job at a professional-services firm in the Los Angeles area last April, moving in with his parents in Lake Havasu City, Ariz.

Working 80 hours a week in L.A. while studying for his CPA exam had left him exhausted and anxious. He decided to take a year off to focus on passing the exam, improving his health and connecting with his parents.

So far he’s lost 60 pounds, passed three of the four exam sections (he takes the final one this month) and thought about where he might want to live next. But he won’t start looking for a job until his CPA certification comes through.

“It’s easy sometimes to become preoccupied with, what’s the future going to look like?” he says. “I’ve been trying really hard to take things day by day.”

Even if you’ve been craving funemployment, it’s normal to have some pangs of, “What have I done?” after handing in a resignation, says Ethan Kross, a professor of psychology and management at the University of Michigan.

“We like to know that we have control of things and that they’re certain,” says Dr. Kross, the author of “Chatter,” a book about the internal messages we give ourselves.

If you’re feeling adrift, talk to yourself as you would a friend, addressing yourself as “you” or by your name as you dispense advice. Think about how you might view the situation in six months or 10 years. Will you wish you obsessed more over the next entry on your résumé, or spent time with family? And set boundaries from the beginning of your career break, rehearsing how you’d react if someone, say, offered you a freelancing assignment.

Kristen Witte, 32, left her job with a healthcare software company last June after her younger daughter was diagnosed with cystic fibrosis, a genetic disorder that affects the lungs. She pulled her older daughter out of daycare, and is thankful for time spent colouring and moulding Play-Doh at her Houston home. Still, when LinkedIn job alerts land in her inbox, or she hears of others in her field receiving lucrative offers, she sometimes has second thoughts.

“Am I missing out? Is this the right time for me not to be working?” she wonders.

Taking on a 10-hour-a-week contracting gig in January has been “freeing,” she says, helping her feel as though she’s keeping one toe in the professional world, while still staying flexible for her girls.

If you’re open to jumping back in for your dream job, set up your LinkedIn profile to do the work for you, says Omar Garriott, who previously worked for the company and co-authored “Linked,” a book about using the social network.

The brief description right below your name should match your ideal job title, even if you haven’t held it yet, he says. For example, you could write, “aspiring product manager,” “future product manager,” or “taking work hiatus—seeking product manager opportunities.” In the longer “About” section, include a list of your skills, especially ones that are being used as key words in the job descriptions that interest you most, so the algorithms can find you.

Recruiters will start coming to you, Mr. Garriott says. They’re used to people saying no, he adds, so it’s fine to open your profile for them to search even if you don’t think you want a new job anytime soon. Just make sure to reply to their messages with a yes or a gracious no, and let them know what opportunities you would consider.

Blake Lawson, of Costa Mesa, Calif., initially turned down a job offer he got from a tech company in December. A few months into a career break prompted by burnout and the desire to try something new, he was intent on learning improv, earning his pilot’s license and laying the groundwork for his own consulting business.

Then the hiring manager came back with a 19% pay bump from the initial offer, plus the opportunity to learn skills that Mr. Lawson was eager to expand. He said yes.

He started the new job, leading a product team, in January, and likes having more structure in his days. But he misses the time and freedom that came with not having a 9 to 5 and says he’s intent on seeing his side hustles through.

“There’s been a little bit of sadness in knowing what I left behind,” he says.

Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 14, 2022.

 



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This Company Won Big With Bitcoin and AI. Why It’s Now Favoring One Over the Other
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Austin, Texas, company Core Scientific went from bankruptcy to stock market darling this year by betting on two technologies: Bitcoin mining and AI data centers. Shares are up 400%.

But if given the choice of whether to invest more in one business over the other, executives answer without hesitating: the data centers.

“We really just value long-term, stable cash flows and predictable returns,” Chief Operating Officer Matt Brown said in an interview. The company began life as a Bitcoin miner. Even though Bitcoin has been a great asset lately, it’s very volatile. By comparison, Core Scientific can earn steady profits for years by hosting servers owned by companies that sell cloud services to AI providers, Brown said.

This year, you couldn’t go wrong betting on either. Bitcoin is up 116%, and data centers are in high demand because tech companies need them to power their AI applications.

The two technologies seem to have little in common, but they both depend on the same thing: access to reliable power. Core Scientific has a lot of it, operating nine grid-connected warehouses in six states with access to so much electricity they could serve several hundred thousand homes. Other Bitcoin miners have similarly transitioned to data center hosting , but few with quite so much success.

Core Scientific’s business didn’t look quite so good at the start of the year. The company started 2024 under the shadow of bankruptcy protection. It had too much debt on its balance sheet after going public through the SPAC process in 2022 and succumbed to a Bitcoin price crash. But the company’s fortunes quickly turned around after it emerged from bankruptcy on Jan. 23 with $400 million less debt.

The company started the year focused entirely on crypto mining, but quickly pivoted as it saw demand surge for electricity for AI data centers.

In June, the company signed a deal with a company called Coreweave to lease data center space for AI cloud services. Coreweave has since agreed to lease 500 megawatts worth of space. Core Scientific says it will get paid $8.7 billion over 12 years under the deal.

Privately held Coreweave is one of the fastest-growing companies behind the AI revolution. It was once a cryptocurrency miner, but has since transitioned to offering cloud services, with a particular focus on artificial intelligence. It’s closely connected to Nvidia , which has invested money in Coreweave and given the company access to its top-end chips. Coreweave expects to be one of the first customers for Nvidia ’s upcoming Blackwell GPUs.

Core Scientific’s quick success in this new world has surprised even the people who are driving it.

“Every once in a while I need to pinch myself, to see I’m actually not dreaming,” Brown said.

Core Scientific’s success does create a high bar for the stock to keep rising. The company is expected to lose money this year, largely because of a change in the value of stock warrants—an accounting shift that doesn’t reflect underlying earnings. Analysts see the company becoming profitable in 2025, when more of its data center deals start to hit the bottom line. They see EPS jumping tenfold by 2027. Shares trade at about 13 times those 2027 estimates.

The data center opportunity should only grow from here, as tech companies build more powerful AI systems. Of the 1,200 megawatts worth of gross power capacity Core Scientific has contracted, about 800 megawatts are going to data center computing deals and 400 megawatts toward Bitcoin mining.

Brown said the company has good relationships with its power suppliers and can potentially add more capacity without having to buy more real estate. It expects to be able to secure about 300 more megawatts worth of power at existing sites, perhaps by the end of the year.

It’s also in the hunt for new sites, including at “distressed” conventional data centers that have lost their tenants. Core Scientific has figured out how to quickly spiff up bare-bones data centers and turn them into high-tech sites with resources like liquid cooling equipment and much higher levels of electricity.

A single server rack in a standard data center might need 6 or 7 kilowatts of power. A high-performance data center can use as much as 130 kilowatts per rack; Core Scientific is working on increasing capacity to 400 kilowatts. The company likens the process of upgrading the warehouses to turning a ho-hum passenger vehicle into a Formula One racing car.

Core Scientific’s transformation from a broken-down jalopy to a hot rod has been a wild story. Its fate next year will depend on just how quickly the AI revolution unfolds.

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