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Home Blog Page 5108

Tesla CEO Elon Musk Pauses Hiring

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CEO of Tesla, Elon Musk freezes hiring at Tesla in all factories worldwide, as he plans to cut about 10% of salaried staff. This is coming after he stopped remote work at Tesla, ordering staff to return full time. Due to the news about a possible recession likely to occur, Elon Musk is trying to do things necessary to ensure that the company thrives regardless.

Tesla shares fell 9% in the US Trade, which has seen Elon Musk slash the salaries of his staff by 10%, as it became over staffed in many areas. In a mail sent to employees, it reads “There will be reduction in salaries headcount by 10%, as it has become over staffed in many areas, but hourly headcount will increase. Note that this does not apply to anyone actually building cars, battery packs or installing solar”.

Musk has on several occasions warned about the possible risk of recession, but the mail where he ordered a pause in hiring at Tesla as well as the slashing of staff members salary by 10% was the most direct and high-profile message of its kind.

Analysts have disclosed that the forecasting of a recession by Elon Musk would carry high credibility. So far, at Tesla, the demand for its cars and other vehicles has remained strong and many traditional indicators of a downturn, including increasing dealer inventories and incentives in the United States have not materialized.

At Tesla factory located in Shanghai China, it has struggled to restart production due to the covid pandemic lockdown that forced costly outages. A lot of analysts have also forecasted slower deliveries of Tesla Motors to the Chinese lockdown which affected its loss of output at Tesla’s Shanghai plant.

It is revealed that the Shanghai plant in China accounted for just over a third of Tesla’s global deliveries in 2021. This is likely one of the reasons why Elon musk had to stop remote work at the company. He demanded that every staff member spends a minimum of 40 hours in the office per week, as failure to show up will pass a message to the company that they have resigned.

Elon musk might not necessarily hate remote work, but with the recent crisis the company is faced with and also the forecasting of a possible recession, I think remote work might give him the feeling that his staff members will be laid back. This is no doubt a period where all hands must be on deck to keep the company afloat.

Often, when organizations are faced with different challenges, it can bring about a change in the workplace structure, which is obviously what Elon Musk is doing at Tesla. It is so serious that he had to slash the prices of team members by 100%.

Logically, no organization will enjoy paying its staff their usual amount of salary while the company’s revenue dwindles. Few analysts have also described Musk abolishment of remote work as a disguise to layoff staff, without having to have a direct layoff, because by doing so, Musk knows that there is a percentage of workers who will likely not come back.

Northern APC Governors Endorse Sourthern Presidency

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The 11 northern governors of the All Progressive Congress (APC), have unanimously decided to support the controversial zoning arrangement by asking President Muhammadu Buhari to focus the search for his successor on the Party’s candidates from Southern Nigeria.

The development, which now settles the dust of zoning in the ruling party – killing the suspense that it has locked Nigerians in, took place during the APC’s presidential primary election in Abuja.

A statement signed by Aminu Bello Masari, governor of Katsina state; Abubakar Sani Bello, governor of Niger; Abdullahi Sule, governor of Nasarawa; Babagana Zulum, governor of Borno; Nasir El-Rufai, governor of Kaduna among others, pointed to the withdrawal of Abubakar Badaru, governor of Jigawa state, from the presidential race as evidence of their support for the Party’s presidential from the South.

“APC governors and political leaders from the northern states of Nigeria today met to review the political situation and to further support our Party in providing progressive leadership amidst our national challenges.

“During our discussions, we welcomed President Muhammadu Buhari’s invitation to governors and other stakeholders to contribute to the emergence of a strong presidential candidate for the APC.

“After careful deliberation, we therefore wish to strongly recommend to President Muhammad Buhari that the search for his successor as the APC Presidential Candidate be limited to our compatriots from the Southern states. We appeal to all aspirants from the Northern state to withdraw in the national interest and allow only the aspirants from the south to proceed to the primaries. We are delighted by the decision of our esteemed colleague His Excellency Gov Abubakar Badru to contribute to this patriotic quest by withdrawing his presidential aspiration,” the statement reads.

In response, Southern Governors Forum, headed by Ondo State governor, Rotimi Akeredolu, issued a statement applauding the decision of their northern counterparts. Southern governors had last year, agreed that for equity to be served, the next Nigerian president must come from the Southern part of the country.

“We received with utmost joy the news of the resolution of the 11 Governors from the Northern Region.

“We did not expect anything short of this heart-warming decision from our colleagues, great patriots and reliable partners in the collaborative efforts geared towards the attainment of nationhood for our dear country. This is indeed another landmark achievement in our quest for understanding, rapprochement and continual engagements for mutual beneficence.

“We acknowledge this courageous stance for equity and moral rectitude. We applaud the zeal and determination of our brothers to engage realistically and honestly. We salute this uncommon resolve to confront issues militating against the march towards nationhood and ultimate greatness. By this gesture, we are convinced of the seriousness of our colleagues to join other patriots in ensuring that the ascendant march towards stability, progress and prosperity is not truncated by indiscretion.

“We congratulate our brother Governor, Abubakar Badaru, for his exemplary conduct. Posterity will remember him for good. We thank the leadership of the Northern Governors’ Forum for the patriotic zest displayed at this crucial moment. We look forward to conducting a hitch free Convention which will culminate in the election of a suitable candidate who will hoist the flag of the party with a sense of mission,” the statement signed by Akeredolu said.

This trims the APC 23-man presidential aspirant list and means that the search for Buhari’s successor will now be narrowed to only Southern candidates. The major opposition party, the Peoples Democratic Party (PDP), had last week chosen former vice president Atiku Abubakar, a northern candidate to be their flag bearer. Report from Abuja said some APC’s aspirants are stepping down as Buhari calls for a consensus candidate.

Nigerian Radio Stations, Audience and Arrival of Elon Musk’s Starlink

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On October 31, 1959, when the Western Nigerian Government built the first television station in Ibadan, Sub-Saharan Africa, like other sub-continents and regions around the world, began broadcasting its own news and programme contents. Since then, governments, private individuals, and communities have focused on the creation of broadcast stations (radio and television) from Johannesburg to Nairobi, Lagos to Dar es Salaam, as well as Accra, with the goal of disseminating constant information to people for personal development and making significant contributions to society in terms of effective participation in civic activities.

According to several sources, the broadcast industry is thriving in Nigeria, Ghana, Kenya, South Africa, and Egypt, owing to constant changes in people’s preferences for content and governments’ interest in disseminating developmental information to the people. Information has it that private individuals and organizations are interested in establishing broadcast media establishments as a result of technological advancements that are making content development and transmission easier and more accessible to the general public.

There is no doubt that technological advancement and rapid adoption are creating favorable conditions for the usage of television and radio as information providers. Radio, in particular, has a reputation for reaching people in both urban and rural locations more effectively than other forms of mass communication. The increased use of radio as a source of information in many African countries can be attributed to a number of factors. Nigerians in the north, for example, have long been known to be enthusiastic about listening to radio because of the abundance of local content and production of news and programs relevant to their daily needs.

Starlink and the New Dawn for Radio Broadcast

Despite the fact that the Federal Government’s early 2000s transformation policy facilitated the establishment of digital-oriented stations (radio and television), as well as creativity in content production and ingenuity in content dissemination, many audiences still find it difficult to access content due to factors such as low internet penetration, high costs of purchasing internet systems and data subscription. However, since the Nigerian government approved Elon Musk’s Starlink satellite, a lot of professionals in the ICT industry and others have been discussing and revealing potential opportunities  that firms and individuals could pursue. The discussion has centered on the fact that Starlink facilitates fast internet connection because it “Rather sending internet signals through electric cables, which must be physically laid down to reach far-flung places, satellite internet works by beaming information through the vacuum of space, where it travels 47% faster than in fiber-optic cable.” While the swiftness of the product is highly recognised, the high cost of subscribing to it remains another issue to majority of Nigerians in the rural areas.

Our analyst points out that with the approval of the product, rural residents with Internet-enabled phones will be able to listen to urban radio stations that have been restricted by the government’s regulatory bodies due to limited frequency modulation bandwidth ranges assigned to them via social media, particularly Facebook (which remains the most used social medium for live streaming radio content in Nigeria).

In recent research, our analyst and another researcher, it was recommended the deployment of 5G network and installation of more network masts with strong bandwidth due to weak Internet broadband connectivity, which is threatening the sustainability of Facebook-radio convergence in Oyo State. However, according to our analyst, the coming of Elon Musk’s product is a mixed opportunities for broadcast stations and audience in Nigeria.

While listeners in urban regions would be able to easily access radio content due to the Starlink satellite’s rapid nature in facilitating effective Internet access, listeners in rural areas would be unable to do so due to the high cost of subscription. Listeners in urban areas, particularly those with a high level of economic power (income), would be able to afford the $99 monthly subscription and $499 for the Starlink kit, and enjoy the convenience of listening to radio material quickly. For urban broadcast stations, having Starlink means reaching a larger audience in rural areas, especially for those who can rely on financial assistance from family members and friends in urban areas.

The Bola Tinubu’s “it is my turn” and Greek’s Oedipus Tyrannus

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“If not for me that stood behind Buhari he wouldn’t have become the president. He tried the first time, he failed, the second time, he failed, the third, he failed, he even wept on national television and vowed never to contest again but I went to meet him in Kaduna and told him he will run again, I will stand by you and you will win, but you must not joke with Yorubas and he agreed.

“Since he became the president, I have never got ministerial slots, I didn’t collect any contract, I have never begged for anything from him, it is the turn of Yoruba, it is my turn.” Bola Tinubu, a former governor of Lagos State and APC Presidential aspirant.

For context, go back and read Ola Rotimi’s The Gods Are Not To Blame or the Greek’s Oedipus Tyrannus to understand politics, alignment and promises. Odewale had the false sense of security but when the gods sneezed, it was over. Rotimi brilliantly made a case that despite those trails, you cannot blame the gods!

As I watch APC, I connect back to one of the finest novels I have ever read;  Isi Akwu Dara N’ala  [a shortened form of an Igbo proverb – when the palm nut falls to the ground, it picks sand] by Tony Ubesie is a masterpiece and is one of the all-time best Igbo novels. Sure, it was written in Igbo and not popular but if you track Chike and Ada, you will see what is playing out in APC: betrayals.

Next week will be super-amazing; I am ready for the convention. As Tony Ubesie in another classic Ukwa Ruo Oge Ya O Daa [when the breadfruit matures, it falls down] posits, next  week’s convention will explain everything because the time has come.

APC is scheduled to hold its presidential convention on June 6-8 2022.

Never run a digital business on guesswork – measure, improve and thrive

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In every edition of Tekedia Mini-MBA, we take time to decide on the Featured Photo. We pick them from the internet on fair use. For our 8th edition, we initially picked photo A. Initially, the registration conversation rate (how many visit the page and how many register, weekly) did not do well, but we did not know the specific reason. We had compared the rate of the same time last year (and last edition) to the current ; edition 8 was underperforming.

Then, our team member suggested we change the photo with B. They did and within a week, the conversion rate improved significantly. That improvement remains sustained.

Good People, do not run a digital business on guesswork. Form a habit of measuring things because if you do not measure, you cannot improve. The Igbo Nation will say that “uwa bu ahia” [the world is a market]. Interestingly, only those who understand what the market needs thrive.

Measure., Improve. Advance. You can check live photo B here  .