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Home Blog Page 4014

This Ant Is Really Big and Strong – Fined $984 million and Still Alive!

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Good People, when an “Ant” can pay a $984 million fine, you know you have a really big economy. Yes, “Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector.” Jack Ma, China giveth and China taketh.

Shares in Alibaba Group opened 5.4% higher in Hong Kong on Monday after Beijing imposed an almost $1 billion fine on Ant Group, the e-commerce company’s fintech affiliate, for violating laws on consumer protection, among other infractions. Investors hope the massive penalty indicates that China’s crackdown on big tech companies—which arguably started when regulators derailed Ant’s IPO in 2020—is now ending. Ant is offering a buyback program with shares valued 70% lower than its scrapped IPO. Reuters

What is your regulatory strategy in Nigeria? Do not just think it does not matter anymore. It seems governments around the world are fining companies with reckless abandon these days. In the US, they can fine in the morning, and settle in the evening, reaping massive revenue for the government. 

Nigeria has picked up on that playbook, focusing on customer data and privacy violations. Some banks are already in the crosshairs.  Yet, we hope no one will get close to what a special Ant in China will endure as fines.

The penalty amounts to one of the largest ever fines for an internet company in China.

Ant and its subsidiaries had violated laws and regulations in areas including corporate governance, financial consumer protection, payment and settlement business, as well as anti-money laundering obligations, the People’s Bank of China (PBOC) said in a statement.

Ant said it had completed its rectification work. “We will comply with the terms of the penalty in all earnestness and sincerity and continue to further enhance our compliance governance.” It closed Xianghubao in 2021.

“Mberede ka eji ama dike” [You know who a brave man is when he is confronted with unforeseen problems and is able to tackle it]

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Every day you wake, your number one prayer point for that day should be for God (or for whatever you worship) to keep you away from troubles because just one problem is enough to have all your life savings wiped out, put you in an unrecoverable debt and get your life messed up forever.

I have seen people run into problems that they spent millions of naira solving and they never bounced back or recovered from it. Some had to spend their life savings, sell all their properties, and she even had to borrow to sort out themselves. You may never fully relate until you have been there. 

I am currently handling a case of a client that had N25M in savings as of earlier this year with a flourishing business, as of this moment she’s even struggling to feed. All the savings are gone, she even sold her properties and borrowed more money just to sort out this pending problem; She naively got involved in some fraudulent transactions. She did not just lose all the money she put in, she was also arrested, and detained and she had to refund monies she had no idea how it came about. The case is still in court and all she wishes for is for the whole thing to go away so she can pick up the pieces of her life and start the rebuilding process.

Details of the case of this my client reminded me that the unfortunate thing about life is that even when you do not go looking for problems or even when you are on your own trying to maintain your peace, manage yourself and mind your business, some problems will come looking for you. It is the way that you are able to maneuver and have it sorted that counts and adds a feather to your cap. Old Igbo proverbs say “mberede ka eji ama dike”,  which when loosely translated to English means “You know who a brave man is when he is confronted with unforeseen problems and is able to tackle it”. 

This is why you need to make sure to always have emergency funds for contingencies and also have a good lawyer on standby in case troubles come knocking so you can start tackling them immediately before it becomes too late or blows out of proportion. 

It is part of life that sometimes troubles and tribulations will come even when you do not look for it, you cannot avoid problems in life, it’s part of the roller coaster that makes life bitter-sweet. All we can ever do is hope and wish that the problem that comes is not bigger than us or something too big for us to handle, or what will consume us, if it does not kill you, it will definitely make you stronger.

HR Tech Startup Propel, Secures $2.74 Million Fund to Build Ecosystems to Power The Future of Work

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Berlin-based Nigerian HR-tech startup Propel has secured $2.74 million in seed investment to build ecosystems to power the future of work.

The funding round was led by Amsterdam-based No Such Ventures, with participation from APX (an accelerator by Axel Springer Digital Ventures and Porsche Digital), Golden Egg Check, and Future of Learning Fund.

The startup intends to use the funds raised, to drive the roll-out and adoption of its community-as-a-service platform and drive €1 million in revenue generated for communities by the fourth quarter (Q4) next year.

Speaking on the funds raised, co-founder of Propel Sunkanmi Ola said,

“We realized communities are the building blocks of any tech ecosystem, particularly emerging market ecosystems, but nobody has been building for communities and the distribution layer for the tech talent pipeline had been missing. Most tech communities build their pool and upskill, but the last mile where you convert these talents to jobs is missing and communities struggle in that regard.”

Also commenting, Co-founder and Head of Strategy at Propel, Seun Owolabi said,

At Propel, we’re championing more responsible and regenerative ways of hiring/building talent pipelines. Rather than deploying opportunistic practices like headhunting or poaching, we participate deeply in ecosystems, using proprietary technology to find the best talent within communities.

“And when we place people in jobs, our revenue is shared with the community they belong to, which is reinvested into programs and initiatives needed to get more people into tech. In summary, Propel is where ambitious companies come to find the talent that is just right for their needs and crowd-solve tech challenges while doing good at the same time.”

Founded in 2020 by Sunkami Ola, Seun Owolabi, and Abel Agoi, Propel is powering tech talent communities and connecting them to the global workforce, thereby tackling the global skills shortage.

The startup enables high-growth companies to move at super speed, by supporting their hiring needs, and matching them with tech talents, which enables them to focus on what matters.

By coupling smart assessment protocols with its tiered Work-Experience Model, Propel can drive deep data profiling on every individual in its ecosystem, to make intelligent matching decisions for companies across the world.

In exchange for providing last-mile infrastructure, Propel plugs into the diverse pools of talent within these tech communities spanning multiple skill sets, from design to software development, data science to no-code, and other digital skills. The HR tech startup makes its revenue from hiring and placement fees and rebates.

Propel is trusted by 100+ tech communities and has worked with top companies like Mercedes, Stepstone, Porsche, Orange Telecoms, and Farfetch. The startup has a presence across 15 countries in the world, serving over 400,000 members. Notably, it has placed more than 550 people into job roles across multiple countries.

The company’s goal is to grow to 500 communities with 1 million members across the board in 2024 and generate millions in revenue for communities through commissions from jobs, perks, and finance on the platform.

As the number of unfilled tech jobs rises, Propel seeks to mitigate this problem by connecting tech talents to a community where they can get jobs easily. Hence, the need to build more ecosystems to tackle the global skills shortage.

The startup’s unique, community-focused approach to driving the open talent economy has set them apart and is a solid addition to the Future of Work category.

Twitter Traffic Declines as Threads Continues to Gain Traction

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Microblogging platform Twitter is currently experiencing a decline in traffic, as Meta’s newly launched Threads continues to gain traction since its launch.

According to IT service management company that provides content delivery network services and Cloud cybersecurity, Cloudflare, it disclosed that Twitter’s website is currently tanking.

On Sunday, co-founder and CEO of Cloudflare Matthew Prince posted a graph on Twitter, showing radar rankings, which reflected how popular domains performed recently.

Twitter was spotted in the 37th position in the domain ranking, a decline from its 32nd position in January 2023. The microblogging platform traffic visibly tanked, as it is expected to decline further, following the launch of rival platform Threads.

This traffic report disclosed by Cloudflare, is coming after Twitter CEO Elon Musk tweeted in June this year, that the microblogging platform had hit an all-time record in user seconds.

Meanwhile, Meta Threads has reportedly garnered over 100 million users in just a few days after its launch, surpassing the record of the OpenAI tool, ChatGPT for the fastest-growing consumer app.

The increase in Threads user base, which has reportedly led to the drastic decline in Twitter traffic has been linked to Musk’s “unpleasant” changes on the platform. Musk revamps since taking over the company last year October, has prompted users to seek alternative platforms like Mastodon and Bluesky, as well as the recently launched Threads by Meta.

Meanwhile, it is understood that Twitter is threatening to file a suit against Meta for launching Threads, which its referred to as a “copycat” version of Twitter.

In a cease and desist letter sent to Meta, Twitter alleges that the social media company poached its laid-off employees to create Threads, which is a typical replica of Twitter.

In the letter sent to Meta CEO Mark Zuckerberg, Twitter lawyer, Alex Spiro, accused the company of engaging in systematic, willful, and unlawful misappropriation of Twitter’s trade secrets and other intellectual property.

However, Musk’s threat to sue Meta following the launch of Threads, indicates that the newly launched platform is so far, the greatest threat to Twitter. With Meta resources and grit, Threads stands a chance to displace Twitter in the microblogging space.

Threads is also finding it easier to garner users because it is directly linked to Instagram, which has more than one billion regular users.

The app which is still new and fresh doesn’t yet support most common social media features that users look out for. Hashtags, for example, haven’t been implemented on the platform. However, Meta will likely add new features in the coming weeks and will also introduce other features lacking on Twitter.

Threads’ imminent achievement of surpassing 100 million user sign-ups, coupled with Twitter’s decline in traffic, marks a significant shift in the social media landscape.

As Meta’s latest venture gains traction, it demonstrates the demand for platforms that provide a distinct alternative to traditional social media while catering to specific community preferences. Whether you’re a creator or a casual poster, Threads offers a new, separate space for real-time updates and public conversations.

From Static to Editable: Transform Your PDFs into Word Documents in Seconds

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PDFs have become the go-to format for various types of documents, ranging from presentations to annual reports. While they have several benefits, such as being secure and preserving the original layout, PDFs can also pose a significant challenge when the content needs to be edited or updated. In such cases, converting them to Word documents is an appropriate solution. Looking for a reliable solution to convert your PDF files to Word? Look no further than https://www.foxit.com/pdf-to-word/, where you can effortlessly transform your documents with ease.

However, manually transcribing PDFs into Word documents can be a time-consuming and tedious task, especially if there are multiple pages or layouts to deal with. Fortunately, there are several tools available that can help transform PDFs into editable Word documents quickly and efficiently.

In this blog post, we will explore some of the best methods and tools for converting PDFs into Word documents in seconds. Whether you need to edit a contract, update a resume, or extract information from a report, these techniques will save you time and effort. From using online converters to downloading specialized software, we will cover various options that cater to different needs and preferences.

Converting PDFs to Word effortlessly

Converting PDFs to Word documents can be a time-consuming and often frustrating task, especially for those who regularly work with large numbers of documents. Fortunately, there are now a variety of easy-to-use tools available that make this process significantly simpler and more efficient. By using these tools, you can quickly transform static PDF files into fully editable Word documents in just a few seconds, without losing any of the formatting or layout of the original document. In this document, we will explore the various options available for converting PDFs to Word, and provide guidance on how to choose the right tool for your needs. Whether you are a busy professional, a student, or just someone looking to streamline your workflow, you’ll find that converting PDFs to Word has never been easier or more accessible.

A smarter way to work

One of the biggest challenges of working with PDF documents is that they are often static, making it difficult to edit or make changes without the right tools and software. However, with the rise of digital technology and innovative solutions, there is a smarter way to work with PDFs. By converting PDFs into editable Word documents, businesses and individuals can streamline their workflow, save time and increase productivity. With the right tools, it is now possible to transform your PDFs into Word documents in seconds, allowing you to make necessary changes and updates easily. This can be especially useful for businesses that deal with large volumes of data and documentation, as it allows for faster and more efficient collaboration and communication among team members. By embracing this smarter way of working, individuals and businesses can achieve greater efficiency and productivity, leading to better outcomes and success. Brands like sodapdf.com offer tools for such high performance and productivity.

Save time and resources

One of the biggest benefits of converting your static PDF documents to editable Word documents is the ability to save time and resources. With PDFs, making changes can be time-consuming and frustrating, requiring you to either retype the entire document or make handwritten notes on a printed version. Converting your PDFs into editable Word documents allows you to quickly and easily make changes, without the need for manual transcription or formatting. This saves you time and resources, allowing you to focus on more important tasks, such as analyzing the content of your document or collaborating with colleagues on its development. Whether you are a small business owner or a large corporation, this transformation can lead to increased efficiency and productivity across your organization.

Easy, fast, and accurate

Transforming static PDF documents into editable Word files can be a daunting and time-consuming task, but it doesn’t have to be. With the right tools, the process can be easy, fast, and accurate. By using advanced software solutions, users can quickly and seamlessly convert their PDFs to Word documents in seconds. The conversion process is straightforward, requiring only a few clicks to produce a fully functional, editable Word file. Additionally, these software solutions offer superior accuracy, ensuring that all the content from the original PDF is retained and presented correctly in the Word document. The end result is a professional-looking, fully editable Word document that can save users hours of manual data entry and formatting.

No more manual retyping

The manual retyping of PDF documents can be a tedious and time-consuming task. However, with the advancement of technology and software, this process can now be eliminated. With the help of PDF to Word conversion tools, you can transform your static PDF documents into editable Word documents in seconds. The process is simple and efficient, allowing you to save valuable time and effort in the retyping process. Additionally, this conversion process ensures that the original formatting and layout of the PDF document is preserved, resulting in a high-quality, editable Word document that can be easily modified and updated. By adopting this technology, you can streamline your document management processes and improve productivity, while reducing the risk of errors that can occur during manual retyping.

Preserve formatting and layout

When converting documents, it is important to preserve the formatting and layout of the original file. This is especially true when converting from a PDF to a Word document, as the formatting and layout can be complex and difficult to recreate. Fortunately, there are tools available that can help ensure that your converted document looks just as professional and polished as the original. By using advanced algorithms and intelligent text recognition technology, these tools can accurately identify and recreate even the most complex formatting elements, such as tables, headers, and footers. By preserving the original formatting and layout of your PDF, you can save time and effort in editing and formatting your document, and ensure that your final product looks just as professional as the original.

A streamlined workflow solution

One of the key challenges businesses face when dealing with important documents is managing workflows efficiently. This is where a streamlined workflow solution can make a significant difference. By automating repetitive tasks and eliminating manual input, businesses can save time and increase productivity, while reducing the risk of errors. A streamlined workflow solution can also help businesses maintain compliance and ensure that documents are processed accurately and securely. With the ability to convert static PDFs into editable Word documents in seconds, businesses can further streamline their workflows and simplify document management. The resulting editable documents can be easily updated, shared, and collaborated on, saving valuable time and resources. In short, a streamlined workflow solution that includes the ability to convert PDFs into editable Word documents can help businesses improve their efficiency, productivity, and accuracy.

Unlock the full potential today

Unlock the full potential of your PDF documents today by transforming them into fully editable Word documents in seconds. With the help of modern technology, you can now convert static PDFs into dynamic and interactive Word files that allow you to edit and modify the content as per your requirements. This transformation not only saves you time and effort but also enhances your productivity and efficiency. By unlocking the full potential of your PDFs, you can easily collaborate with your colleagues and share information seamlessly across different platforms. So why wait? Upgrade your PDFs today and take advantage of the many benefits of editable Word documents.

Conclusion

Converting PDFs into Word documents has become easier than ever. With the availability of online tools and software, you can transform your static PDF files into editable Word documents in a matter of seconds. This process can save you valuable time and effort, especially if you frequently work with PDFs. By converting PDFs into Word documents, you can edit and customize the content as per your requirements and share them with colleagues and clients in a more convenient and accessible format. With this technology at our fingertips, we can streamline our workflow and improve our productivity.