When he speaks, everyone pays attention. Japan’s SoftBank CEO does not write codes, making his promise to create technology systems which are smarter than humans in multiples fascinating: “Masayoshi Son, the billionaire CEO of SoftBank, is aiming for a new technology adventure called Artificial Superintelligence (ASI)…Over the years, Son has made bold investments in startups poised to revolutionize industries, cementing his reputation as a risk-taker with a keen eye for innovation.”

So, you may ask: which one is more important – the skill or the capital? Son thinks with his money he can assemble the human element to get what he wants. That explains that in the ranking of the factors of production, you need to pay attention to capital. Of course, this is not to posit that capital is ahead of humans, since knowledge, a factor of production, is there, besides labour and the entrepreneur.  Of course, knowledge comes from humans!

Here is the knowledge from Son: “SoftBank was founded for what purpose [ASI]? For what purpose was Masa Son born? It may sound strange, but I think I was born to realize ASI. I am super serious about it,” Son told shareholders at an annual meeting.

So, with his unalloyed boldness and confidence, I will rank the factors of production for the ASI future as follows: Knowledge, Entrepreneur, Capital, Labour and (Land). Good People, a man or a woman with Knowledge is a factor in this world. Upon knowledge will the empires of the future be built upon. And dreaming to create knowledge systems 10,000x better than humans assumes that  humans will even know that such a thing has happened since it is 10000x ahead of us!

SoftBank’s Masayoshi Son Vows to Create Technology 10,000 times Smarter than Humans: Artificial Superintelligence (ASI).

President Bola Tinubu has given the green light for the immediate implementation of the National Construction and Household Support Programme across Nigeria’s six geo-political zones. This initiative aims to bolster agricultural productivity, invigorate the economy by creating opportunities in agriculture, manufacturing, and construction sectors, and provide urgent economic relief to Nigerians.

A significant focus of the programme is the development of the Sokoto-Badagry Highway, which will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states. This highway is prioritized due to its strategic importance to agricultural sustainability in Nigeria. The corridor includes 216 agricultural communities, 58 large and medium dams across six states, seven Special Agro-Industrial Processing Zones (SAPZs), 156 local government areas, 39 commercial cities and towns, and over one million hectares of arable land.

Other prioritized infrastructure projects include the Lagos-Calabar Coastal Highway and the Trans-Saharan Highway, connecting Enugu, Abakaliki, Ogoja, Benue, Kogi, Nasarawa, and Abuja.

Railway Projects

The programme also encompasses full counterpart financing for critical railway projects. The Port Harcourt-Maiduguri Railway will traverse Rivers, Abia, Enugu, Benue, Nasarawa, Plateau, Bauchi, Gombe, Yobe, and Borno. Additionally, the Ibadan-Abuja segment of the Lagos-Kano Standard-Gauge Railway will cover Lagos, Ogun, Oyo, Osun, Kwara, Niger, Abuja, Kaduna, and Kano.

Additional Support Measures

The National Construction and Household Support Programme includes several measures to provide immediate relief and boost local economies:

• A one-off allocation of N10 billion to each state and the Federal Capital Territory for procuring buses and supporting the CNG uplift programme.
• N50,000 uplift grants to 100,000 families per state for three months.
• Provisions for labour unions and civil society organizations.
• Deployment of N155 billion for purchasing and distributing assorted foodstuffs nationwide.

Presidential Address at NEC Meeting

During the National Economic Council (NEC) meeting in Abuja, President Tinubu emphasized the urgency of boosting food production and improving infrastructure. He urged state governors to collaborate effectively to meet citizens’ needs, promising federal support for mechanizing agricultural processes and providing high-quality seedlings and solar-powered irrigation facilities.

“Our states must work together to deliver on the critical reforms required of us to meet the needs of our people. Time is humanity’s most precious asset. You can never have enough of it. It is getting late,” he stated.

He further highlighted the critical role of the Sokoto-Badagry Highway in connecting key agricultural states and facilitating food export through Badagry.

“There is nothing we are doing that is more important than producing high-quality food for our people to consume, buy, and sell. We create jobs in the production of it. And that is before we generate wealth by exporting the excess. It is not beyond us to achieve this for Nigerians,” he said.

Tinubu concluded by calling for immediate action and collaboration, asking governors to report back with their needs within seven days to ensure the swift implementation of the programme.

Economists’ Concerns

Despite the ambitious scope of the programme, economists have raised concerns about the disbursement of funds for food purchase and distribution, in this case, N155 billion. Many believe that this approach could inadvertently exacerbate food insecurity in the country, as it involves mopping up the scarce foods in the markets.

Against this backdrop, economists warn that deploying such a large sum to mop up the limited food supply in markets could further stoke food inflation. With an already insufficient food supply, buying up what little remains could drive prices even higher, making food less affordable for the average Nigerian.

Moreover, the strategy of disbursing money to a select few among many is seen as insufficient to address the deeper economic issues. While short-term relief is necessary, experts contend that it does not tackle the root causes of the country’s economic challenges. They call on the government to address fundamental issues such as insecurity, which severely impacts agricultural productivity and overall economic stability.

Economists suggest that a more sustainable approach would involve comprehensive reforms to improve the security situation, enhance agricultural productivity, and foster a more conducive environment for economic activities. By addressing these underlying issues they said, the government can create lasting solutions that benefit a broader segment of the population.

Amazon’s market capitalization reached $2 trillion for the first time, attracting more attention from investors and traders. Since the beginning of the year, Amazon stock price has surged 27.5%, significantly outpacing the Nasdaq 100 index’s growth and making the company highly attractive investment.

The company’s Q1 reports indicate the recovery of the Amazon Web Services cloud business after a period of customer cost-cutting. Amazon management is confident that the boom in artificial intelligence systems will generate additional revenue in the future, which encourages investors. AWS remains a leader in cloud computing, with continued investments in this segment providing an additional income stream.  Moreover, Amazon is investing in new technologies such as artificial intelligence and autonomous technologies, strengthening its market position and creating new growth opportunities.

Amazon’s stable and efficient management boosts investor confidence, allowing the company to continually grow and develop.The market views the post-pandemic layoff of 27,000 employees as an effective cost-saving measure, contributing to the company’s stock growth. Although Amazon has previously reached the $1 trillion capitalization mark twice, this is the first time it has hit $2 trillion. Amazon stock price dynamics are slower compared to other tech stocks like Microsoft, Nvidia, and Apple.

Currently, only four companies have a market capitalization above $2 trillion: Nvidia, Apple, Alphabet (Google) and Microsoft. These companies hold top positions in the world rankings, attracting investors with their innovative solutions and stable growth.

Amazon, primarily focused on technology and online commerce, has rapidly developed areas such as cloud computing, media services, and artificial intelligence in recent years, strengthening its position and attracting new investors.

All companies with a $2 trillion market capitalization share a commitment to innovation, tnew technology development, unique product and service creation, and AI integration into their services and processes. Each company also has its unique features and long-term plans that enable it to compete successfully in the global market and attract new investors.

Amazon reaching the $2 trillion mark is just the beginning of its growth journey. Potential investors may see the company as a promising player in the technology and cloud services market, capable of generating profits and further energizing the market.