DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 4244

A little help for an OG Tekedian

0

Help is often a rewarding activity when it is quick and easy to do, and most importantly, doesn’t cost anything… (well, perhaps it might burn a very small bit of online data for those who are not unmetered!) but it should not take long.

I’ve been using Chat GPT a bit recently to find how exposed it is to different brands and products, and to examine in what way it influences commercial ecosystems.

I had been asking a few questions about Web3 and Blockchain. Then I asked this question:

Disambiguate ‘9ja Cosmos’ from ‘Cosmos’

Though I had become a bit concerned about some replies about other things it had said earlier.

It seemed to regularly contradict itself. For example:

I asked it a question about its capability to use online resources:

Replies Truncated

But in a similar context later when asked the same, it said:

When a friendly Discord Channel member asked cold, he was told:

But here’s the thing… There isn’t even a ‘9ja Cosmos FC’. It doesn’t exist. There isn’t even a ‘Naija Cosmos FC’.

Excerpt from a list of Nigerian Football Clubs.. There is no ‘9ja Cosmos FC’ or any club name that starts with a number. There is no ‘Naija Cosmos FC’ and as the excerpt shows, there is no ‘Cosmos FC’

 

So for those who can access Chat GPT, I would like you to pose this to it:

Disambiguate ‘9ja Cosmos’ from ‘Cosmos’

and see what other strange results it can come up with. Testing ‘Information Markets’ is important. If you get the opportunity to try, please share any responses! Thanks.

 

9ja Cosmos is here…

Get your .9jacom and .9javerse Web 3 domains  for $2 at:

.9jacom Domains

.9javerse Domains

All reference sites accessed between 12/04/2023

nigerianinfopedia.com/nigerian-football-clubs-list-football-clubs-nigeria/

chat.openai.com/auth/login

 

 

 

 

 

 

Leave Downstream, Go Upstream and Capture More Value in Markets

4

Companies win by accumulating capabilities. From Google to Flutterwave to Dangote Group, when companies accumulate capabilities, they operate in domains that generate higher value (usually upstream) compared with where most typical firms operate (usually downstream). Dangote Group can deploy massive assets and technical know-how in cement production, making it harder for new entrants and rivals.

Google uses its datasets to win on search. By holding the first-scaler advantage on search, it enjoys the virtuoso circle of network effects which keep compounding, making Google better.

And Flutterwave delivers an unmatched scale within the African fintech space, making it a layer upon which many companies run on. Indeed, its greatest capability is that it has unified the US, China, Europe and Latin America on API-based payment, from the lens of Africa.

Like in the oil industry where they speak the language of upstream and downstream, here is the message: leave downstream positions in your sector, go upstream and capture more value in markets. Sure, only the few can make that upward transition,  but the few which do, do unlock great opportunities that make them category-kings. #DreamIt

Apple Plans to Open First Physical Stores in India as it Seeks to Boost Sales

0

Giant tech company Apple is set to open its first physical stores in India next week, as it seeks to boost retail sales of its products and its manufacturing activity locally.

The tech giant will open a store in Mumbai, the commercial capital of India, and one of the predominant port cities in the country, on the 18th of April and in the Indian capital Delhi on the 20th of April. Reports disclosed that Apple executives have been visiting India quite often, while noting that an unspecified but key iPhone enclosure quality executive has reportedly been relocated to India from China.

Apple’s plan to open stores in India underscores the company’s CEO Tim Cook’s bullish view on the country, which is the world’s fifth largest economy. The tech giant has just a 5% market share in India’s smartphone market, but Cook has long seen India as a potential area for growth.

Cook during a February earnings call this year, had disclosed that he is very bullish on India, after observing the record iPhone revenues in the country, while noting that the number of regional iPhone users increased to double digits. In his words, “We’re bringing retail there and bringing the online store there and putting a significant amount of energy there. I’m very bullish on India. Apple is putting a significant amount of energy in India.”

Last year, Apple began assembling its flagship iPhone 14 in India, which was the first time Apple produced its latest model in India so close to its launch. The company is aiming to make 25% of all its iPhones in India. Apple intends to ship directly from India with the launch of the iPhone 15 series. This denotes the gradual growth of Apple’s supply chain.

Although Apple has only gotten a small number of orders for India made iPhone 15, reviews of the quality have been largely positive. Apple’s manufacturing push to the Asian country is coming as it seeks to reduce its reliance on China, where it currently makes the majority of its iPhones while diversifying its supply chain.

The tech giant currently produces more than 90 percent of iPhones in China, through factories owned by Taiwan-based Foxconn. However, frequent Covid lockdowns and worker protests at Foxconn’s major factories in China in 2022 led the company to reconsider its supply chain approach and accelerate its shift away from China.

According to a Bloomberg report, Apple made more than 6.5 million iPhones in India in 2022. Following 2023’s anticipated 10 million, unspecified sources reportedly involved in the process, estimate that 2024 will see 15 million iPhones.

Meanwhile, a JPMorgan analyst disclosed via a note that Apple could make 25% of all iPhones globally in India by 2025. The analysts expect Apple to move 25% of other product lines outside of China, which includes the Macbook, Apple Watch, Airpods, and iPad.

In Defense of Electoral Petitions, INEC Nigeria Said Electoral Act Does Not Mandate Compulsory Electronic Transmission of Results

0

The Independent National Electoral Commission (INEC) has denied breaking any law in the conduct of 2023 elections, dismissing allegations that it failed to follow electoral guidelines.

It is the first time the electoral umpire is responding to the series of legal cases emanating from the outcome of the presidential election.

Days ago, the All Action Peoples Party (APP) joined the Peoples Democratic Party (PDP) and the Labour Party (LP), to challenge the process and the outcome of the election, which they alleged to have breached the Electoral Act 2022. The parties have all filed the cases before the Presidential Election Petitions Court (PEPC) in Abuja.

INEC lawyer, Abubakar Mahmoud, in a statement said the conduct of the election was free and fair and that the process followed electoral guidelines.

“The election was free, fair, credible and in compliance with the constitution and the Electoral Act, 2022 and other relevant laws and guidelines,” he said.

The electoral body also urged the tribunal to “dismiss or strike out the petition” filed by the LP for being “grossly incompetent, abusive, vague, nebulous, generic, general, non-specific, ambiguous, equivocal, hypothetical and academic.”

The applicants’ argument has been based on INEC’s failure to transmit the results from polling units to its iRev portal in real time.

But in its defense seen in a court document, the electoral commission dismissed the argument as a basis to declare the conduct of the election illegal. It said paragraphs 50 to 55 of the regulations and guidelines for the conduct of the 2023 presidential election allow the commission to use alternate means for collation.

“There was no collation system of the 3rd respondent (INEC) to which polling unit results were required to be transmitted by the presiding officers…the prescribed mode of collation was manual collation of the various forms EC8A, EC8B, EC8C, EC8D and EC8E in the presidential election,” INEC said.

The commission also dismissed the allegation that results were doctored by its officials to favor a particular political party’s candidate or that there was over-voting.

In their petition, the applicants had pointed out that while it was not possible for presidential election’s results to be uploaded, electoral officials were able to upload to Senatorial and House of Reps results, indicating that the system was compromised.

But according to its defense filing, INEC stated that its online result viewing portal became erratic at the point of collation and members of its Information and Communications Technology (ICT) team were called in to rectify the problem, because the presidential results were not immediately uploaded.

“It was observed that while the result sheets were being successfully uploaded through the e-transmission system to the iRev portal in respect of the Senatorial and House of Representatives elections to their respective modules, the e-transmission was not processing and uploading the result sheets to the iRev portal in respect of the presidential election. The system was encountering glitches and was extremely slow.

“The 3rd respondent’s (INEC) technical team took every step to restore the application to functionality…five application/patches updates were created and deployed immediately with the aim of fixing the error,” it said.

The electoral umpire said it will use testimony from its ICT department and two INEC official witnesses as evidence at the tribunal.

Other parties who filed petitions challenging the presidential election include the Action Alliance (AA) and the Allied Peoples Movement (APM). The tribunal is yet to fix a date for the hearing.

Silicon Valley Bank Chief Risk Officer Resigns Months After Joining The Bank

0

Recent reports reveal that Silicon Valley Bank’s (SVB) new Chief Security Officer CRO Kim Olson has resigned months after joining the bank.

Sources familiar with the news disclosed that Kim who joined SVB in January 2023 alongside the chief audit executive and one other executive are leaving the bank.

The departure comes just two weeks after about $72 billion in assets from the failed Bank was bought by First Citizens Bank. The recent departure is on top of a string of executive exits, including former CEO Greg Becker and CFO Daniel Beck who left the collapsed bank when it was taken over by regulators.

Kim Olson was appointed as Silicon Valley Bank Chief Risk Officer (CRO) in January this year, after taking over from Laura Izurieta who stepped down from her role as CRO of SVB financial group in April 2022. Laura Izurieta walked away with over $7.1 million last year after she oversaw a bond-buying spree that left it vulnerable to a frenzied bank run that led to the collapse. She however managed to exit the bank unscathed before it collapsed.

In a Securities and Exchange Commission (SEC) filing, Silicon Valley Bank stated that it approached Izurieta about terminating her job early last year after she sold $4,176,354 of her stock in the company on December 6, 2021. SVB is yet to comment on Olson’s departure, as employees at the newly combined institution do not yet know who the new Chief Risk Officer will be. There are claims that a potential successor is First Citizens’ CRO Lorie Rupp who has been in the role since 2017.

It is interesting to note that before Kim was appointed as CRO, Silicon Valley Bank was without a Chief Risk officer for eight months, a role required by federal regulations, which got people perplexed at how the bank managed risks in the interim period between the departure of one CRO and appointment of another, while it faced a difficult transition in the Venture Capital market the industry the bank services closely.

Analysts at Wall Street Journal (WSJ) stated that any strong Chief Risk Officer should have prevented Silicon Valley Bank from collapsing. It is however interesting to note that talent moves are sure to continue as a natural part of SVB’s transition to new ownership after HSBC Holdings plc’s U.S. unit hired dozens of Silicon Valley Bank bankers led by David Sabow, who most recently led the technology and healthcare banking segment for the California-based bank that collapsed last month.

HSBC USA said in a statement that the hiring will help the bank establish a dedicated banking practice focused on serving companies in technology and healthcare, as well as investors who support them. HSBC has initially assembled a team of more than 40 bankers in the San Francisco Bay Area, Boston, and New York City as part of this initiative.