Organizations exist to fix frictions in markets. In other words, when you put that signpost that you are open for business, you are announcing to the world that you have the capacity to solve some problems which the market wants solved. Solving those problems will mean building and creating products and services.
But how do you create products and services? You need to combine and recombine factors of production. That translation is very important because three cardinal things are at play: the PEOPLE, the processes and the tools. The People is the pivot upon which any organization can execute its mission.
Join Tekedia Live tomorrow as our Faculty, Ibironke Tolu-Ogunpolu, Chartered FCIPD, SPHR , educates on how we can develop an effective PEOPLE Management System in firms. Our Faculty is a leading thought-leader in this domain. A Director – People in M&A Transactions and Restructuring- in one of the finest knowledge organizations in the world and a founder of a non-profit which makes PEOPLE better. Come and learn how to win with #PEOPLE.
Tekedia Mini-MBA >> learn from the best. Zoom link in the class board.
It works like that, and America is always good at executing that playbook: may the best win, whether it is coming from a government or a private company. In the age of Rockefeller, his Standard Oil’s standards became most of the national standards in the US oil and gas sector. Carnegie executed a similar playbook in the steel sector. Simply, where the idea comes from does not matter, what matters is the quality and adoption by markets.
We’re seeing that right in the electric vehicle industry as the sectorconverges on Tesla’s North American Charging Standard for charging EV vehicles. Rivian, a small rival EV car company, just joined the network. Other traditional companies like GM and Ford are already on board. And just like that, the world’s finest car company, Tesla, has a new revenue source: charging network and making it available to competitors.
Tesla’s charging network continues to gain ground. Rivian has become the latest electric vehicle maker to adopt Tesla’s North American Charging Standard. The move — which follows similar announcements from Ford and General Motors earlier this year — will allow Rivian owners to access the Tesla Supercharger network starting in 2024. NACS “is rapidly becoming the industry standard,” Bloomberg notes, and not only boosts Rivian’s appeal, but helps Tesla cement a revenue stream selling power to EV drivers other than Tesla owners.
Tesla opened up its formerly proprietary charging network in November, in part to qualify for federal funding earmarked for EV charging infrastructure. Hyundai is also weighing NACS adoption, Reuters reports.
Tesla is taxing the world of automakers by selling some carbon credits (that enable most to keep making hydrocarbon-powered cars) and nowcharging networks. Of course, those car brands will happily come along since where to charge an EV is one of the core factors people consider when buying one. Many do not have many charging locations and customers avoid those brands. If Tesla can help fix that friction, they will be happy to tell their customers to check the next Tesla charging location.
May the best Win! Every nation needs to learn this.
Comment 1: True capitalists want to make money but they really also want to make a difference. They want to solve problems and make things better. Most of the men who built America like Vanderbilt, Rockefeller, Carnegie, Ford etc are typical examples. They have faults but they seem to have done way more good than evil. They build quality products, lower prices and cumulatively give way more to society than they take. Africa needs people like these and not people who just look for ways to reap off the public through false capitalism and pretentious entrepreneurship.
And talking about Elon and Telsa, at the core, he is more focused on doing good even as he does well financially. Have followed him since circa 2011 and while he may not be a saint on many levels, I think he is overall more of a blessing to humanity
The study by UK financial services provider CMC Markets analyzed Google data to establish the number of searches for each S&P 500 stock and its symbol in each UK area, determining which is the most popular. The S&P 500 index is one of the most widely followed benchmarks for the US stock market. It tracks the performance of 500 large-cap companies that represent various sectors of the economy. Many investors use the S&P 500 as a proxy for the overall market and compare their returns to it.
Coming in at number one is the electric car manufacturer Tesla (TSLA), with 260,180 Google searches a month on average in the UK. The American multinational automotive and clean energy company is headquartered in Austin, Texas, with Elon Musk as its CEO. According to Tesla’s latest financial reports, the company’s current revenue is $86.03 billion, a $4.57 billion increase from 2022.
Number two on the list is META (META), formally known as Facebook, with 84,310 searches a month on average and current revenue of $117.34 billion, $31.31 billion more than Tesla. The American multinational technology company has Mark Zuckerberg as the CEO and is based in Menlo Park, California. Business Insider claims that Meta’s CTO said that the leaders were spending most of their time on generative AI earlier this month.
In third place is NVIDIA (NVDA), which is searched 58,250 times a month. Nvidia Corporation is one of the biggest developers of graphics processors and chipsets for personal computers and game consoles. As of 2023, NVIDIA has just over 26,000 employees worldwide and has a revenue of $26.97 billion, a decrease of $1.59 billion from last year.
Number four is Alphabet Google (GOOG), which is searched 35,840 times a month. The headquarters is in Mountain View in Silicon Valley, and Sundar Pichai is the company’s CEO. Google’s current revenue is $284.61 billion, a $1.78 billion increase from last year.
Finally, in the UK’s fifth most googled stock is Amazon (AMZN), with 27,720 times a month on average. The Jeff Bezos-founded company is led by Andy Jassy as a CEO, and has current revenue of $513.98 billion, which is larger than the combined revenues of the UK’s top four most googled companies.
A spokesperson for CMC Markets said: “With more and more people having more access to the latest information about stocks in easily digestible forms via social media platforms like TikTok, it has become easier than ever to delve into the world of trading, and this data offers a fascinating insight into which companies attract the most interest from the British public.
Technology companies are prominent among the UK’s most googled stocks, and as the focus on artificial intelligence continues to intensify, it will be interesting to see how each company’s share price fluctuates depending on how they react to advances in the technology, and how it might disrupt their respective industries.”
These five companies are among the most innovative and influential in their respective industries, and have been making headlines for their achievements, challenges, and controversies. They also represent some of the largest and most valuable companies in the world, which may explain their popularity among UK investors.
The report also shows that Tesla was the most searched S&P 500 stock in every region of the UK, except for Northern Ireland, where Apple took the lead. Tesla’s popularity among UK investors is not surprising, given its strong performance and innovation in the electric vehicle and clean energy sectors.
However, before you decide to invest in any of these stocks, you should do your own research and analysis, and consider your risk appetite and investment goals. Remember that past performance is not indicative of future results, and that stock prices can fluctuate significantly due to various factors.
The cryptocurrency market is constantly evolving and expanding, with new innovations and challenges emerging every day. However, one of the biggest barriers to entry for institutional investors has been the lack of a reliable and regulated platform that can offer them access to the crypto space without compromising on security, liquidity, or compliance.
EDX Markets, a new cryptocurrency exchange backed by some of the biggest names in traditional finance, has officially launched in the U.S. The exchange is a joint venture between Citadel Securities, Fidelity Digital Assets and Charles Schwab, and aims to provide a secure and reliable platform for trading digital assets.
EDX Markets is different from other crypto exchanges in that it does not directly handle customers’ digital assets or serve individual investors. Instead, it operates as a matching engine that connects brokers, institutions and other market participants who want to trade cryptocurrencies. EDX Markets also leverages the expertise and infrastructure of its backers, who are well-established players in the securities industry.
EDXM offers trading in four major cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Unlike other crypto platforms that hold clients’ digital assets during trading, EDXM works with a third-party custodian that ensures the safety and integrity of clients’ funds. This way, EDXM can focus on providing best-in-class execution, liquidity, and market data for its clients.
EDXM is led by Jamil Nazarali, a former senior executive at Citadel Securities who has over 20 years of experience in electronic trading and market structure. EDXM also has the support of leading venture capital firms such as Paradigm, Sequoia Capital, and Virtu Financial, as well as additional investors such as Miami International Holdings, GTS, GSR Markets, and HRT Technology.
EDXM is not only a game-changer for institutional investors who want to tap into the crypto market, but also a catalyst for the growth and maturity of the crypto industry as a whole. By adopting the rules and investor protections that exist in traditional finance, EDXM aims to bring more trust, transparency, and legitimacy to the crypto space.
The launch of EDX Markets comes at a time when the crypto market is facing increased regulatory scrutiny and challenges from authorities. Two of the largest crypto platforms, FTX and Binance, are facing lawsuits from the Securities and Exchange Commission (SEC) for allegedly violating securities laws and offering unregistered products. EDX Markets, on the other hand, claims to be fully compliant with all applicable regulations and standards. The exchange also offers various trading features and tools, such as limit orders, market orders, stop orders, margin trading and advanced charting.
Tekedia Capital is super excited to congratulate our portfolio company, Revna Biosciences, for securing Sub-Saharan Africa’s first approval to the NeuMoDx™ 96 diagnostics platform supplied by the global biotech company QIAGEN, which has hitherto been available only in Europe, the Middle East, and North America. We congratulate Team Revna led by Dr Derrick Akpalu for this major milestone.
At Tekedia Capital, we’re funding the pillars of Next Africa and we’re very proud of what Revna Biosciences has accomplished. Many teaching hospitals, clinics, etc across sub-Saharan Africa depend on Revna for vital tests and we’re leading the future of biomedical and biomolecular sciences. The destination: #defeat diseases.
If you work in this space and are exploring partnerships (clinic, sample collector, etc), visit https://revnabio.com/ and reach out. There is no need to send those samples to Europe or North America; we have them in Ghana. A new expansion is coming to Nigeria.
ACCRA, Ghana, June 21, 2023/ Ghana-based precision medicine company Revna Biosciences (RevnaBio) (https://RevnaBio.com/) has received historic approval from the Food and Drugs Authority of Ghana (FDA) to use the NeuMoDx™ 96 diagnostics platform supplied by the global biotech company QIAGEN. The registration comes in addition to FDA permissions for RevnaBio to conduct its first set of complex tests for the Ghanaian/West African region.The FDA approval secures RevnaBio as the first biomedical company to register/deploy the NeuMoDx platform in Sub-Saharan Africa, hitherto mainly available in Europe, the Middle East, and North America. The three-step NeuMoDx 96 Molecular System extracts and isolates the target nucleic acids and conducts a real-time polymerase chain reaction. In addition to its self-developed tests, RevnaBio will also use QIAGEN tests for blood-borne viruses and assays covering sexual and reproductive health.
Co-Founder and CEO of Revna Biosciences, Dr Derrick Akpalu, was thankful for the positive outcome of the biomedical company’s regulatory submission to the FDA. He reiterated RevnaBio’s intention to work with QIAGEN to ensure the practical usage of the NeuMoDx 96 system to further its goals to champion precision medicine for all. Dr Akpalu said:
“We are pleased by the FDA’s approval of our usage of the NeuMoDx 96 system. We are grateful for the trust, partnership, and privilege of bringing this ground-breaking molecular system to the doorsteps of patients in the region. As we transition to impact lives with the NeuMoDx,we look forward to the furtherance of our relationships with our international and local partners. Thank you to the FDA and QIAGEN for this impactful opportunity.”
On the approval of the first set of diagnostic tests on NeuMoDx by the FDA, Dr Akpalu added:
“We’re also thankful to the FDA for the test approvals, which position RevnaBio to deliver high-quality diagnostic tests with the shortest turnaround times. We also look forward to introducing additional tests and novel technologies as we push to address the region’s lack of diagnostics penetration. Finally, we reiterate our commitment to localising advanced molecular diagnostics to impact lives. This is a first step towards executing translational and clinical research in multiple disease cohorts as we drive to discover novel therapies and diagnostics.”
This is a first step towards executing translational and clinical research in multiple disease cohorts as we drive to discover novel therapies and diagnostics
Board Member of Revna Biosciences, Dr Sylvia J. Anie CSci FRSM FRSC, also commented on the feat, saying:
“We continue to champion precision medicine, a landmark outcome for us. We hope to move from the traditional one-size-fits-all medicine to a more preventative, personalised, data-driven disease management model that achieves improved patient outcomes and cost efficiencies. The regulatory approval we have received is a boost towards achieving this. We will continue to move forward collaboratively and in partnership with key stakeholders on this journey.”
Dr Akpalu
The FDA is the government agency with the mandate to regulate health products and health-related technologies, including diagnostics, cosmetics and household chemical substances, food, tobacco, and tobacco products and conduct clinical trials in Ghana. Speaking on the approval process, the Chief Executive Officer of the FDA, Dr Delese Darko, said:
“Based on the evaluation of information RevnaBio presented and our successful on-site audit inspection, we concluded that the NeuMoDx™ medical device system and tests are safe for use. However, as is our mandate, we will continue to work with RevnaBio in our regulatory capacity to ensure the appropriate usage of the systems. We wish them well on their journey to advance precision medicine through international-standard diagnostics and therapies.”
Simona Grandits, Senior Director, Head of Sales, and Marketing EMEA at QIAGEN, said the company is firmly committed to working with RevnaBio to deliver its mission to advance precision medicine in Africa. She said:
“We proudly support Revna Biosciences as they advance molecular diagnostics and therapeutics discovery in Africa and beyond. At the heart of QIAGEN is a vision for making life improvements possible. Together, we champion precision medicine for all, revolutionising healthcare and improving patient outcomes.”
RevnaBio has invested in QIAGEN-led training sessions for its biomedical engineers and laboratory scientists to ensure the NeuMoDx 96 advanced technology is effectively localised. They attended workshops on the QIAGEN system’s hardware and software application in Ankara, Turkey and Hilden, Germany.
In other news, RevnaBio is conducting commercial lab testing at its Adjiringanor facility, with an upcoming collection point at Korle Bu in Accra.
Distributed by APO Group on behalf of Revna Biosciences.
