Time for a New Business Model!

By

-

May 1, 2023

Rethink your business model because that is the most important component to thrive as a business. As you develop whatever that you have, make sure to notice when you need to revamp and refresh your existing business model. As inflation hits families and the World Economic Forum posits that 14 million jobs may be lost due to AI, and broad digitization over the next 5 years, most business models will fade.

Time magazine got the message: not many people will pay for the content when you do not deliver financial information. Yes, while Wall Street Journal, New York Times and Financial Times can all run subscription-based business models because their products are important raw materials to many, companies like Time, Quartz and Gannett cannot execute that playbook.

So, when you put that paywall, you need to examine if your product has value on time and is also actionable. If you are writing about a great dinner experience, you have no chance to get many to pay. But if you are writing about a possible financial deal, you will have believers. So, the call by Time to remove its paywall is the right call.

Always remember the one oasis and the double play strategy. You can acquire customers via one line of business and monetize using another. Time will now have to open its playbook to see how it could become an ecosystem of knowledge. #rethink that business model.

Are digital paywalls starting to come down? Time magazine is planning to make all of its journalism free to access from June 1 in order to reach new audiences and build fresh revenue streams, CEO Jessica Sibley announced. The 100-year-old news outlet — which put its magazine content and archive behind a paywall in 2011 — isn’t the first media organization to make such a move. Quartz dropped its paywall last year and local newspaper company Gannett is making more of its articles available to non-subscribers.

Sibley said other media companies are likely to soften their paywalls as the industry seeks new business models and inflation-hit consumers develop subscription fatigue.

Understanding Shitcoins and Memecoins

By

Paul Ugbede Godwin

-

May 1, 2023

1

Shitcoin and Memecoins are two terms that are often used in the cryptocurrency space to describe coins that have little or no intrinsic value, but are driven by hype, speculation, or memes. In this post, we will explore the origins, characteristics, and risks of these types of coins. They are usually created as a joke, a scam, or a social experiment, and they often rely on hype, speculation, and manipulation to attract investors to pump up their prices.

Shitcoin is a derogatory term that refers to any coin that is worthless, scammy, or poorly designed. The term was coined by Bitcoin maximalists who believe that Bitcoin is the only legitimate cryptocurrency and that all other coins are inferior or fraudulent. Shitcoins may have various flaws, such as:

Lack of innovation or originality
Poor security or scalability
Centralized control or governance
No clear use case or utility
High volatility or inflation
Low liquidity or market cap
Susceptible to pump and dump schemes or rug pulls.

Memecoin is a term that refers to any coin that is based on a meme, joke, or pop culture reference. Memecoins are usually created for fun or satire, and do not have any serious intention or value proposition. Memecoins may have some of the same flaws as shitcoins, but they also have some unique features, such as:

High social media presence and viral potential
Strong community and fan base
Humorous or catchy name and logo
Low entry barrier and affordability
Potential for charity or social causes

Some examples of shitcoins are Bitconnect, OneCoin, and Dentacoin. Shitcoins are often created by inexperienced developers or malicious actors who want to make a quick profit by exploiting the hype and ignorance of the crypto market. Shitcoins usually have no clear vision, roadmap, or use case, and they rely on marketing gimmicks, false promises, or celebrity endorsements to attract investors. Shitcoins are highly volatile, risky, and prone to manipulation and hacking.

Memecoin is a term for a cryptocurrency that is based on a meme, joke, or cultural phenomenon. It is usually used to describe coins that have a humorous or ironic appeal, but lack any serious value proposition or innovation. Some examples of memecoins are Dogecoin, Shiba Inu, and SafeMoon.

Memecoins are often created as a parody or satire of the crypto industry or society in general. They usually have a loyal fan base and a strong social media presence, but they lack any technical merit or competitive advantage. Memecoins are also highly volatile, risky, and susceptible to market sentiment and trends.

The main difference between shitcoin and memecoin is the intention behind their creation and the perception of their value. Shitcoin is a negative term that implies that the coin is worthless and fraudulent. Memecoin is a neutral or positive term that implies that the coin is fun and entertaining. Shitcoin is created to deceive and exploit investors. Memecoin is created to amuse and engage users. Shitcoin has no value beyond speculation. Memecoin has some value as a form of social currency or cultural expression.

However, these terms are not mutually exclusive or fixed. A coin that is considered a shitcoin by some may be considered a memecoin by others, depending on their perspective and preferences. A coin that is initially a memecoin may evolve into a shitcoin or vice versa, depending on its development and performance. A coin that is neither a shitcoin nor a memecoin may become one or both over time, depending on its popularity and reputation.

Therefore, it is important for investors and traders to do their own research and due diligence before investing in any cryptocurrency, especially those that fall under the categories of shitcoin or memecoin. While some of these coins may offer high returns in the short term, they also carry high risks in the long term. They may also have ethical and legal implications for their creators and users. Investing in shitcoin or memecoin requires caution, skepticism, and diversification.

Shitcoins and memecoins are not mutually exclusive categories. Some coins may be considered both shitcoins and memecoins, depending on the perspective of the observer. For instance, some people may view Dogecoin as a legitimate memecoin with a loyal community and a fun spirit, while others may view it as a worthless shitcoin with no technical merit or innovation.

The main appeal of shitcoins and memecoins is the possibility of making huge profits in a short period of time. These coins often experience massive price surges due to hype, FOMO (fear of missing).

It’s Graduation Week for Tekedia Mini-MBA Edition 10

By

Ndubuisi Ekekwe

-

May 1, 2023

0

Good People, it’s graduation week – and Tekedia Institute Mini-MBA edition 10 will conclude this week. It has been a great academic excursion on the mechanics of market systems. Over the last 12 weeks, more than 80 faculty members have led those excursions across different topics and domains.

We have mastered the fundamental constructs of business, and acquired skills and knowledge systems from executives in leading global and local companies, on innovation, business growth and operational execution.

For this week’s Live sessions, we will begin with “The Journey to Growth” to be followed by “The Call to Business Execution”. On Saturday, we will have the finale with “Building Category-King Companies and Winning in Business”. Zoom links in the Board. I will lead all the sessions this week.

Our learners are having many graduation parties across cities; do so respectfully as you meet. These events are independently organized and we do encourage them. #Ready2Lead

To join the next edition of Tekedia Mini-MBA, go here and register.

Prof Ndubuisi Ekekwe
Lead Faculty, Tekedia Institute

Notable Provisions of the CBN Guidelines on Web-Based Payments in Nigeria

By

Emmanuel Ifeanyi Ogbuka

-

May 1, 2023

0

The Central Bank of Nigeria CBN released the Guidelines on Web acceptance services as a means of providing a regulatory framework for supervising the safe operation of Web-based card acceptance services in furtherance of e-commerce and digital payments.

This article will be specifically focused on the provisions of the Guidelines regarding :-

– The applicability scope of the guidelines

– The objectives of the guidelines

– The stakeholders of the Web-based card acceptance value chain and their roles and responsibilities.

– Consumer Protection/Dispute Resolution

– Charge back period for Web-based transactions

What is the applicability scope of the Web-based card transactions guidelines?

The guidelines shall be applicable to all forms of transfers of monetary value on the website of a merchant or a payment aggregator in fulfillment of consideration for the purchase of goods and services on the internet.

What are the objectives of the guidelines?

The objectives of the guidelines are :-

To provide minimum standard requirements for the processing of transactions on the web.

To promote the safety and effectiveness of web acceptance services and thereby enhance user confidence in the service.

To identify the roles and responsibilities of stakeholders.

To encourage the development of effective, low risk, low cost and convenient payment and financial services to customers and businesses through the internet.

Which entities are named by the guidelines as stakeholders in web-based card transactions and what are their respective roles and responsibilities?

Issuer