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Home Blog Page 3688

Thank You Letter from Ndubuisi; Tekedia Capital Cycle Moves To Investment & Payment Mode

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Chairman of Tekedia Capital sent this to primary emails; we’re sharing here for others, including members of investment clubs, syndicates, etc within our ecosystem.

Good People,

Thank you so much for your responses despite the economic paralysis in Nigeria, and around the world. When we opened this investment cycle, we did not know that it could be this successful. I want to thank our members for this partnership.

If you look at many indicators, our records are far better than any state government in Nigeria or any African state on FDI. In other words, we have unlocked the wealth of the diasporas and the homelands more than any non-federal government in Africa. And this year, Tekedia Capital was ranked the most active indigenous investor into African startups, only behind the governments of US, Canada and Germany.

Our sub-goal remains that no one will lose money working with Tekedia Capital. We have built many defenses to ensure risks are mitigated. Part of the playbook was when we jointly created Cinderbuild and asked experts to run the business. The position we have in Cinderbuild is largely to secure your investments. And as I write, we are doing the same in the United States, building an amazing company to also give us geographical diversification towards risk mitigation. We will tell you about it in Q1 2024, and this business has the capacity to further protect your investments. Visa and some great brands are working with us. Yes, if something bad happens in any startup [we’re lucky so far and we hope it remains that way], we can sell equities in Cinderbuild and this firm to cover the risks.

Of course, we do not hope for bad things to happen. And our founders understand that they cannot let us down. Yet, despite our confidence in them, Tekedia Capital is doing all it can to have another layer of protection. Our goal is that by 2023, we will have an organic capacity to secure any kobo or cent that passes through us, irrespective of whatever happens in the startups.  We can innovate in this business, and across many domains, we have done just that. That is why we are the largest syndicate in Africa today.

So, once the US firm is launched, we will set up a trust with our legal custodians on the strengths of these entities.  Later, we will also work out a mechanism to bring liquidity so that people can exit easily. We have many playbooks ahead.

I want to thank everyone for this partnership. We’re building together and during the harvest period, we will harvest together.For all the challenges in the world, I was touched that men and women are making these decisions, through us. We appreciate the confidence. Thanks.

The Oct-Nov 2023 cycle continues and if you have not responded, please check the recorded Demo Day video, pitch decks, overview videos, make your picks, and communicate with our team at capital@tekedia.com. The bank accounts and all the startups are here: https://capital.tekedia.com/lesson/active/ . Our custodial lawyer firm (NICCOM LLP)  has opened the investment portal and soon the master agreements will start dropping for already invested members.

Have a great week ahead and THANK YOU again!

Regards,

Ndubuisi

Nigeria Should Declare National Emergency on Japa

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What a country! It used to be techies japa’ing to Canada, US, Australia, the UK, etc. Then, we added healthcare workers. Now law firms cannot retain lawyers: “I couldn’t even imagine why lawyers would resign from a law firm which has been the dream of some lawyers to work in. To be fair, it is not just his law firm that is losing manpower, even most of the A-list law firms in Nigeria that I know of are also losing huge numbers of lawyers on a daily basis…”

Again, I do not have the authority to comment on japa or leaving Nigeria since I left many years ago. Yet, it is time for the nation to see this as a national emergency. I did some checks using the convocation document for my FUTO graduating class. I noticed that 90% of all students who graduated top of their respective departments in my set in FUTO’s School of Engineering and Engineering Technology (SEET) are living outside Nigeria. How do you build a country that way?

I challenge the government to make opportunities HAPPEN in Nigeria. We’re fading real fast across many human capital indicators. You subsidize education, and other nations then come and plug young people while you struggle.

Nigerian Lawyers Are Running Away; Japa Has Arrived in the Legal Profession

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I visited the law firm of a very senior lawyer who happens to be a close friend and as we were discussing he was intimating me on how lawyers have been leaving his firm. He said about fifteen lawyers have left his firm altogether in the three cities they have an office in Nigeria just this year; he said those fifteen lawyers relocated abroad and they are currently looking for more lawyers to employ. In fact, he asked me to help them refer some lawyers to the firm. 

I couldn’t even imagine why lawyers would resign from a law firm which has been the dream of some lawyers to work in. To be fair, it is not just his law firm that is losing manpower, even most of the A-list law firms in Nigeria that I know of are also losing huge numbers of lawyers on a daily basis. Almost every week I see law firms advertise vacancies on LinkedIn to replace a lawyer who exited the firm so as to host their manpower. 

I can tell you for a fact that lawyers are really relocating in great numbers, some are relocating to further their studies with the intent to come back to Nigeria once they have acquired additional degrees while some are relocating permanently never to look back. 

Unfortunately for the law firms, the lawyers leaving are those who have stayed long in the firm and who have mastered the job, the ones left behind are the upcoming lawyers who are still under tutelage and can’t cover up for the lawyers that exited. I even felt sorry for my senior friend as he was telling me how he himself is the one who does draft some of the court processes at the moment due to the fact that the other lawyers remaining are swamped with other engagements. 

Not just law firms are losing lawyers to the japa drive, the number of health workers relocating is outrageously high too, same with tech bro/ tech sis, same with bank and financial institutions workers, same with engineers. In fact, I often hear a joke that some Nigerian banks do resume work on Mondays to find out that the whole of their IT staff have japa’d over the weekend. 

The Japa drive is no longer a joke, it is causing a serious brain drain which is not just impacting the Nigerian economy, it is also ruining businesses and killing startups. Most businesses are losing their best staff to some European or Canadian firms. It has gotten to a point where every business owner needs to be worried. You can resume work after a weekend break and find out that your best staff or a key member of your organization have left the country in search of a greener pasture. 

Most people that are still in Nigeria are in Nigeria because they are stuck; maybe they cannot afford to relocate, once they can afford it or have gathered enough money to cater for the relocation they are gone.

 

Tesla Launches API For Its AppStore to Support Third-Party Apps to Integrate With Its Systems And Data

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Giant EV maker Tesla has officially launched a new Developer API, providing third parties access to integrate with Tesla vehicle systems and data.

Tesla’s new API tier is called “Discovery Tier”, and while it is currently free, this is expected to change in 2024, although Tesla is yet to provide details of the price plans for additional tiers.

All third-party apps are going to have to go through the new API starting next year. Starting 2024, most vehicles will require sending commands via Tesla Vehicle Command SDK”, Tesla wrote on its website.

The newly launched developer API allows secure linking between the Tesla platform and external apps. It allows third-party service providers to establish connections and interactions with Tesla vehicles.

This means that developers and companies can create applications and services that can be seamlessly integrated into Tesla’s automotive ecosystem, enhancing the capabilities and functionalities of electric vehicles.

Also, with owner’s permission, third-party services can check things like location, vehicle status, charge levels, and more.  Apps can also enable remote commands like door locks, HVAC temperature, charging control, and more, which is explicitly with the owner’s approval. Owners can control which third-party apps are linked to their Tesla account and vehicle.

Permissions can also be revoked at any time through the Tesla mobile app. By providing API access, Tesla enables broader innovation built on top of its award-winning technology stack. App developers can leverage Tesla’s market-leading EV infrastructure in creative ways approved owners would like.

This could lead to better third-party apps for finding chargers, route planning, vehicle automation, and much more. An official Tesla app store may also be in the works to distribute approved third-party apps.

Tesla’s release of a developer API represents a strategic move by the EV company to promote innovation and further expand the possibilities for Tesla owners to customize and personalize their driving experience.

The move underscores Tesla’s commitment to fostering innovation within its vehicle platform. It also opens up opportunities for developers to create new and exciting features that can be accessed and used by Tesla owners through the app store.

This development is expected to bring a wave of innovative and convenient services to the Tesla community, further solidifying Tesla’s position at the forefront of automotive technology and connectivity.

Tesla’s roll-out of developer API is not only about opening up possibilities but also about building a community of innovators and problem solvers who aim to create a more connected and efficient driving experience for Tesla owners.

By allowing third-party apps to plug into its advanced systems, Tesla promises to keep delivering the most seamless, futuristic EV experience.

How the Internet Transformed Lives of the Deaf and Hard of Hearing Community

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The deaf and hard of hearing (DHH) community has faced many challenges and barriers throughout history. From social isolation and discrimination to lack of access and opportunities, the DHH community has often been marginalized and excluded from mainstream society. However, with the advent of the internet and digital technologies, the DHH community has experienced a remarkable transformation in their communication, education, employment, and empowerment.

The internet has enabled the DHH community to communicate with each other and with the hearing world in unprecedented ways. Through video calls, instant messaging, social media, and online forums, the DHH community can connect with people across distances and time zones, share their experiences and perspectives, and participate in various online communities and movements.

The internet has also facilitated the development and dissemination of sign languages, which are the natural languages of the DHH community. Through online platforms and resources, the DHH community can learn and teach sign languages, preserve and promote their linguistic and cultural diversity, and advocate for their linguistic rights and recognition.

The internet has also transformed the education and employment opportunities for the DHH community. Through online courses, programs, and platforms, the DHH community can access a wide range of educational content and materials, from basic literacy and numeracy to specialized skills and knowledge.

The internet has also opened up new possibilities for employment and entrepreneurship for the DHH community. Through online platforms and networks, the DHH community can showcase their talents and abilities, find and create jobs that suit their interests and needs, and contribute to the economic development and social progress of their societies.

The internet has also empowered the DHH community to challenge the stereotypes and stigma that they face in their daily lives. Through online campaigns, petitions, and movements, the DHH community can raise awareness and educate the public about their issues and concerns, demand their rights and respect, and celebrate their achievements and contributions.

The internet has also enabled the DHH community to collaborate and cooperate with other marginalized groups and allies, such as people with disabilities, LGBTQ+ people, racialized people, indigenous people, etc., to fight for social justice and inclusion for all.

However, despite these positive changes, the DHH community still faces some challenges in accessing and benefiting from the internet. Some of these challenges include:

Lack of accessibility: Many websites, apps, videos, podcasts, etc., are not designed or adapted to be accessible for the DHH community. For example, they may not have captions, transcripts, sign language interpretation, or visual cues that can help the DHH community understand the content.

Lack of affordability: The cost of internet access and devices can be prohibitive for some members of the DHH community who may have low income or live in remote areas.

Lack of awareness: Some members of the hearing world may not be aware of or sensitive to the needs and preferences of the DHH community when communicating or interacting online. For example, they may use jargon, acronyms, slang, or idioms that can be confusing or misleading for the DHH community.

Lack of representation: The DHH community may not have enough representation or influence in the decision-making processes that shape the internet policies, standards, regulations, etc., that affect their lives.

Therefore, there is still a need for more advocacy, education, collaboration, and innovation to ensure that the internet is truly inclusive and accessible for everyone. The DHH community has shown that they can overcome many obstacles with their creativity and resilience. With more support and opportunities from the hearing world, they can continue to thrive in the digital age.

The internet has indeed revolutionized the lives of the DHH community. From “deafening silence” to digital revolution, the DHH community has demonstrated their resilience, creativity, and potential in overcoming the obstacles that they face in a hearing-dominated world. The internet has given them a voice, a platform, a tool, and a hope for a better future.