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Master The Innovation Equation At Tekedia Mini-MBA [REGISTER Now]

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innovation

Innovation = Invention + Commercialization.

The purpose of innovation is to improve the efficiency of the utilization of factors of production, and by doing so we fix market frictions in better ways, creating a new basis of competition that will unlock compounding competitive advantages. Innovation comes in many domains – technology, marketing, pricing, etc.

At Tekedia Institute, we make this translation easy for members. Our members do indeed master them – and they go into the market and WIN.

I invite you to register for the next edition of Tekedia Mini-MBA. Early bird deadline ends tomorrow. Begin here https://www.tekedia.com/mmba7/

You will meet me live thrice weekly in Zoom, and we will discuss business, and how we can unlock alpha in market systems. Become an innovator, attend the best school.

We have got more than 200 faculty members. The very best in the world and our members have rated Tekedia Mini-MBA “Excellent” value for money. It goes for $170 or N90,000. Experience 12 weeks of academic excursion by the best team in business education. Check these experts; you will like them to teach you https://school.tekedia.com/faculty/

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I think this definition should be Standardised in Corporate Nigeria, because it’s simply revolutionary.

It’s empirical, it’s condensed, it’s simple and indisputable as opposed to the loose and vague high-flying definition in Silicon Valley and mainstream media which basically regards every new invention as an innovation irrespective of its viability and market validity. Adding new features, churning out new products and catalogues or the number of patents a company has all count as being innovative.

Thought Leadership is critical to Innovation.

E=MC^2 propounded by Albert Einstein is just a definition for energy but in mathematical language, but it has revolutionised science ever since and in turn technology.

In that light, I also think that Innovation (I) equals Invention (V) plus Commercialisation (C), or in other words I=V+C (if I am allowed some poetic licence), can revolutionise Socioeconomics.

The Marketing and Sales of Technology/Inventions are Socioeconomically determined. This definition unites two worlds… Technology and Socioeconomics. See my point?

Evolutionists vs Black People

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There are words used to insult somebody’s intelligence, one appears in the dictionary as offensive and the word ‘offensive’ has been described by words likely to upset, insult, irritate and unpleasant to sense. (Encarta dictionaries 2009). I do like to be scientific, and science does not move around emotions which begat insult. You will be an idiot if science diagnoses you to have contracted HIV and you think it’s an insult on you. In that line of thought, I get confused about the word ‘idiot’ when I need to use it within the scope of rationality where science operates. Can one diagnose someone of being an idiot as one do for other mental related phenomena? Unfortunately, the dictionary does not support that, is the dictionary trying to be nice? If then one cannot diagnose one as being an idiot, does that mean the situation does not exist? Am sure you will agree it does, that is, there are situations where someone or a group of people have an IQ that is lower to others. If this is possible, then can that be seen as true or an insult? Comepition

Why?

We have two prominent theories for the explanation on how man came into existence, we have the Evolutionist theory and the Creationist theory. This is a black society; the largest black community is Nigeria, the country where I am writing from and that makes the big difference as a participant observer, findings here can be generalized so you can never say I am wailing from distance. In this country, 99% believe in the creationist theory. Most people are religious, unlike many other developed countries. One can say it’s the extension of our nature of being fetish.

The evolution theory is not always accepted as the scientific explanation of how we are here but it has claimed to have used the scientific method; thus, findings are not expected to be submitted with emotions, thus, insults are not to be seen as motivations behind positions during criticism. Criticism must also follow the scientific method.

Simply put, evolution theory is the explanation of how “The Big Bang” initiated life as we have it. How life began from the primordial soup that formed the first cell that evolved into the first man (Homo). The human (homo) evolution is characterized by intelligence Louis Leakey originally argued that the origin of Homo related directly to the development of toolmaking—specifically, the making of stone tools. Toolmaking requires certain mental skills and fine hand manipulation that may exist only in members of our own genus. Indeed, the name Homo habilis (meaning “handy man”) refers directly to the making and use of tools and initiated the ‘early homo’ which was followed by Homo rudolfensis. Middle Homos are Homo ergaster, Homo erectus then homo heidelbergensis, and today’s man is called Homo sapien

These scientists believe humans evolved in Africa and lived only there for as long as 4 million years or more, they then wonder what finally triggered the first human migration out of Africa (a movement that coincided with the spread of early human populations throughout the African continent).

At this point, there can be two possibilities of insinuations. It is either that evolution stopped on homo sapien so everyone can go home and enjoy the intelligence brought with time or ‘the reason the first human left Africa’ is the part expressing another upgrade in evolution. As one can easily notice, that the graph of evolution is not drawn horizontal but vertical. We are not here to review the evolution theory but to make sense of the facts and connotations that affect the blacks as a race. So let’s dive. 

The Story of Ota Benga: The famous black under the lens of the Evolutionists

Ota Benga was captured in 1904 by an evolutionist researcher in the Congo. In his own tongue, his name meant “friend”. He had a wife and two children. Chained and caged like an animal, he was taken to the USA where evolutionist scientists displayed him to the public in the St Louis World Fair along with other ape species and introduced him as “the closest transitional link to man”, you note here that black people are not really referred to as ‘men’. Two years later, they took him to the Bronx Zoo in New York and there they exhibited him under the denomination of “ancient ancestors of man” along with a few chimpanzees, a gorilla named Dinah, and an orang-utan called

Dohung. Dr William T. Hornaday, the zoo’s evolutionist director gave long speeches on how proud he was to have this exceptional “transitional form” in his zoo and treated caged Ota Benga as if he were an ordinary animal. Unable to bear the treatment he was subjected to, Ota Benga eventually committed suicide. In no means am I condoling maltreatment of other men just because they have low intelligence, not even under scientific activity? And when I leave apologies here then I will wonder if a black man will do the same if they are in their shoe. I won’t complete that thought before I ask if black people can ever be in that shoe.

‘Pretence’ is not scientific so no need pretending the fact here that ‘scientifically’ the whites understand blacks has been lowly intelligent. Furthermore, This claim was popularly emphasised, professed by James Watson, winner of the 1962 Nobel price in biology. He talked himself into the eye of the storm on October 14, 2007, during an interview to the Sunday Times of London. James D. Watson, 79, co-discoverer of the DNA helix and winner of the 1962 Nobel Prize in medicine, told the Sunday Times of London that he was “inherently gloomy about the prospect of Africa” because “all our social policies are based on the fact that their intelligence is the same as ours — whereas all the testing says not really.”

Before you attack the part he said “…all the testing says not really” to throw the baby out with the bathwater, remember that we can’t argue this. Though things have not been running so well for him after this pronouncement, however, I will like to believe he is being victimized by people that are sympathetic with black people and those that his word will hurt their business because making Blacks be aware of their intelligence state might wake the blacks up.

Here is the fun part. My last week black experience was excitingly sealed with a feature story written by Dr Adesina Lukman of the University of Ilorin mass communication in the department newspaper: Unilorin Watch. It was a week where I slid into my Instagram account and had an interesting discovery. I have seen most of the white people I followed up to purposeful experiences in their videos and pictures and the blacks I followed had a video where they are ‘tweking’ (a seductive dance that is done by throwing the buttocks up&down in rhythm to a music) or taking a picture where the subject tries so hard to attain perfect display of the robustness of their buttocks. It was also the week I found out the Instagram name of a girl I liked so much for her shape is ‘mz Endowed’; a name emphasizing the largeness of her buttocks; I just had to unfollow her, it is apparent it is only the ‘butt’ she is bringing to the table.

This got me thinking on how the black female existence surrounds her buttocks. And with enough scare, we can’t but refer back to the works of John Philippe a British born psychology professor at the University of Western Ontario in Canada, most widely known for his work on intelligence and racial differences, particularly his book “Race, Evolution and Behaviour. He is a Fellow of the American Association for the Advancement of Science, and the American, British, and Canadian Psychological Associations. Rushton’s academic position is clear – Blacks are intellectually inferior due to genetic make-up; the size of their brains happen to be smaller; they have larger genitals – making them more promiscuous than whites or other groups.

Fast forward to the report by Vanguard in 2015, on a survey that surfaced, listing countries with most unfaithful wives in the world. The survey conducted by condom manufacturer, Durex, had them (Nigerian women) topping the list and beating 35 other countries, including Western countries, sampled in the marital infidelity test. This is not surprising of a race that their women have being shaped by their environment and simple western indoctrination to bring nothing to the table than the big sexual features. The royal wedding did not go viral like it is expectations. Sanity, simplicity was a hallmark. So black people saw nothing interesting in it so they let it be. That the bride did not come out partially nude is not a topic of a sound society. But this is a feature of a good wedding in black nations; look around you. You can almost pay the bride to put clothes on. Well, I am very much aware of the Nigerian situation. The royal wedding did not trend much in Nigeria because partial nudity which is an extension and feature of emptiness/ low IQ was not a feature of the classic event. Buttocks and cleavages are the highlights of class in our mentality, if you think am kidding, switch on the TV and watch for a few minutes.

Moreover, in furtherance to the latter point of discussion, the article by Dr Adesina inspires this one you are reading because of how it exposes another evidence that clearly identifies the low IQ of black people as part of fundamental evolution theory. I have read much about the evolution of homos, then his article exposed a point that has always being hidden from me. If it is true that the whites are more evolved than the blacks then the science book should have identified that, however, skipping that part of in most of the books can only send the idea to the world of doubt. However, I have discovered the link, thanks to Dr Adesina. I shall now quote from this piece.

“The beginning of the entry for the word “Negro” in the 1798 Encyclopedia Britannica describes Negroes in a very disheartening, derogatory and stereotypical manner. Negroes are described as Homo pelli nigra,” a name given to a variety of human species, who are entirely black and are found in the Torrid zone, especially in that part of Africa which lies within the Tropics”. As the entry continues to disparagingly describe Negro, it adds that “In the completion of Negroes we meet with various shade; but they likewise differ far from other men in all the features of their face. Round cheeks, high cheek-bones, a forehead somewhat elevated, a short, broad, flat nose, thick lips, small ears, ugliness, and irregularity of shape, characterize their external appearance. The Negro women have their loins greatly depressed and very large buttocks, which give the black of the shape of a saddle”.

But the part of the description of Negroes in the entry, which saddens me more frequently and excruciatingly, is the devaluation of denigration of Negroes’ moral architectures. In a very pungent and demeaning manner, the entry continues to describe Negroes as people who are grossly engrained with all forms of vices. As the entry puts it, “vices the most notorious seem to be the portion of this unhappy race; idleness, treachery, revenge, cruelty, impudence, stealing, lying, profanity, debauchery, nastiness [pettiness, slyness, fetishes, power-hungriness] and intemperance, are said to have extinguished the principles of natural law, and to have silenced the reproofs of conscience. They are strangers to every sentiment of compassion, and are an awful example of the corruption of man when left to himself”.

Homo pelli nigra

Wow, before now, I can only trace the word ‘negro’ back to the slavery era, but now there is a root to it. We cannot miss the fact that the word ‘nigga’ which is used by black people to refer to one another and considered offensive if used by other races came from the word ‘negro’. You will see the sense of ownership in blacks when they refer to themselves as a nigga, a word that comes from homo pelli nigra which clearly signifies the inferiority in a race. That means black people have accepted this tag, if not they do use these words in ignorance and ignorance is a feature of homo pelli nigra.

Ignorance… how many pages will contain how guilty we are of this? But before you argue, let’s focus on our educational sector that hasn’t make any landmark since inception. In Nigeria, our curricula feed the workforce with unemployable youths and now it is just better one have a handiwork so that the joke of our education won’t be on them.

Do you also notice that, the best government we had are on the time close to the colonial era? From the explanation of what a negro is, we got: “They are strangers to every sentiment of compassion, and are an awful example of the corruption of man when left to himself”. I shall skip the ‘corruption’ part in this article, it is self-explanatory.

The Big Question

“Are we really less intelligent?” First and foremost, let us remember the question is not ‘are we really not intelligent?”. Which question I should be asking is a matter of choice for me because I have faint faith in not wanting to believe black people are not intelligent, however, there is no a conviction to support that anyway but one has to be positive. In my experience, black people never ponder on this question, even though it is apparent that there is not a developed black nation or concentration anywhere. An average black just want to be entertained’ “suffer and smile”. Asking the question can mostly earn one insults or being ignored like advancing a complex mathematical formula to a monkey. The ‘comebacks’ are weak and pathetic. You get the responses like ‘you have been damaged by white propaganda and brainwash’ if I am truly intelligent, how can I be jinxed by white imperialism so badly that I will stay to hallucinate that I am an idiot? If this is actually true, then liberate me.

“If black people have the same opportunity as whites then they will do better”. What opportunity are we talking about here, are you saying your God created white earlier and gave them all the technologies and later create the blacks? We even have better lands and resources, so how can this be a tenable comeback?

“White people came to destroy and stole from us so we won’t survive”, if you are equally wise, then you will have two scenarios. You have created security mechanisms so that that couldn’t have happened and if that had failed then you go after them since you know them and collect the stolen goods back, OR you rise again. It is only a loser that spends a lifetime destroyed because he got visited by thieves.

“Our government is bad and theirs is good”, is this because white people rule us and black people rule them? As far as I can see, we created our government.

“you can’t say that because I can mention 100s of Black individuals doing great”: well, individuals don’t make a race. Of course, the world will keep recording exceptions, like ladies that have won over men in war front in history but we wont because of that populate our army with women because eit is not their nature. I wont say intelligence is not our nature at this point, I am just saying, when it comes to generic study, individuals doesn’t count.

To Hear From a Creationists

As a black creationist, I also believe that all fingers are not equal; no one has the complete package. We all have to use what we have to get what we want and thank God. And God won’t give you perfect shape, great genitals, good land and also give with the best IQ. So, practically, the creationist ideology doesn’t support equivalent IQ in humanity, thus, Black might have been created not intelligent. 

A Prophet of Doom?

Scientific or not, this has not been a happy ride for blacks. Scientific or not, the biggest truth does not come as sweet. If a man has children, it is safer for him to determine their abilities and not base judgment on the wish that every child is equal. To be successful one has to understand oneself, the strength and flaws before one can work towards what really matters. It is only when we know the problem that we can start evoving and solving, however, solved or not, the truth is priceless.

One Question: Where do I belong?

It took me just a way to compile these report but this part of this work took me more than a month because to continue because it gets me to confuse on how to conclude and where to stay on this topic as a black man. Should I stay with my race or the facts? However, I have to run back when I found the perfect analogy. We are all born empty as the philosopher said. This world exposed us and we learnt. I might have to be a protagonist of education from black nations (esp in Nigeria) because of retarding nature and how it has underdeveloped it students ( find my article, ‘NUC: The Nation’s Nightmare’ and ‘EntrepreneurShit’ ), yet education is a way of building the mind. So, as blacks, we need to understand our nature, our bad environment and everything set on us that keeps us deluded and unaware of our failures then we can grow from there. Because if you do not find your problem, then you can’t solve it. If education can build a man from the state of zero, then a black man can dance less and learn to join the fast-moving world fast leaving him in Stone Age and unproductive danger.

I had created a movement called #theNewBlack, #Evolveromblackness to draw a line that ends a careless past and walking into an intelligent future. Forget the greatness of the past that they told us how great and literate we were contrary to what whites want us to believe, we can’t live in those past again if they truly exist (though, no traces,  library of them around). Let us focus on the future to come. Be a conscious black. Be new.

 

REFERENCES

BOOK

Evolution Deceit by Harun Yahya

JOURNAL

Unilorin Watch Oct 2018 Vol 10 No1.

WEB

https://www.vanguardngr.com/2015/01/nigerian-women-unfaithful-wives-world/ Nigerian women most unfaithful wives in the world? ON JANUARY 3, 201512:21 AM

Click here

India Moves to Ban Bitcoin: What Could It Mean for the Crypto Market?

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India is considering legislation to ban cryptocurrencies, following the step of China as the central bank aims to develop and promote its own digital currency.

In the bill called Cryptocurrency and Regulation of Official Digital Currency Bill, announced late Tuesday, parliament is pushing to ban private cryptocurrencies and create a framework to develop and promote a central bank digital currency (CBDC).

It will be put before the lower house in next week’s session, according to a bulletin of parliament’s upcoming business.

India, like China, has been critical about cryptocurrencies as they seek to protect traditional financial institutions from its growing impact. The two largest economies in Asia are now towing the same path after China declared all cryptocurrency transactions illegal in September.

The bill “seeks to prohibit all private cryptocurrencies in India,” but would allow “for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”

The bill would also “create a facilitative framework for [the] creation of the official digital currency to be issued by the Reserve Bank of India,” it said.

Another country that has taken a similar step is Nigeria, though not through parliamentary action. In February, the Nigerian central bank banned all regulated financial service providers from offering crypto-related services. The central bank has gone ahead to launch a digital currency called eNaira.

India set the pace as early as 2018. In April 2018, the Reserve Bank of India (the central bank) had banned banks and entities regulated by it from supporting crypto transactions. Though the decision was overturned by the Supreme Court in March this year, the government’s concern about the use of virtual currencies in India remains.

The RBI had said the use of private cryptocurrencies posed a threat to India’s macroeconomic and financial stability and it is deeply concerned.

“Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint,” the central bank chief Shaktikanta Das said at an event earlier this month.

“The government is actively looking at the issue and will decide on it,” Das was quoted as saying by the Indian Express newspaper. “But as the central banker, we have serious concerns about it, and we have flagged it many times.”

In the same vein, Prime Minister Narendra Modi said cryptocurrencies need to be closely policed, adding that they pose a risk to young people and could “spoil our youth” if they end up “in the wrong hands.”

Since the Supreme Court’s February ruling, India’s crypto market has seen more than 600% growth amidst increase in global institutional adoption.

What could the bill mean for bitcoin?

Bitcoin plunged after China took a swipe on cryptocurrency miners. For months, the leading crypto coin along with altcoins witnessed massive selloffs that plummeted the crypto market, cutting its value by half. Eventually, the market shrugged off China’s impact, and bounced back to hit all-time highs.

China was a bigger crypto country than India, having the largest percent of the mining. Therefore, the impact of the Chinese ban on the crypto market was expected. However, bitcoin shrugging it off within a short period indicates that a possible Indian ban will have less effect on the cryptocurrency market.

Tuesday’s announcement did not affect the general price of bitcoin, though prices of major cryptocurrencies on domestic exchanges fell sharply overnight. Bitcoin went down by around 18.53 percent, Ethereum fell by 15.58 percent, and dollar-pegged Tether plunged by 18.29 percent, according to data from Indian crypto exchange CoinSwitch Kuber.

Tekedia Capital Is Structured for IPO In The Future

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I respect traditional Venture Capital (VC)  firms but I hate their business models. How can you find a great startup, fund it and because you are required to return money to your limited partners (“the VC’s investors”), in years, you exit even before the company begins life?

Yes, you got in when the startup was worth $200m and it went public for $2 billion. You rejoice because within a 7-10 year span, you have made say 10x returns. But wait for just 10 more years, the same startup which IPO’d at $2 billion is now worth $30 billion. But you had since gone!

What would have been bad if the VC had held its positions without any constraint of time? That way, instead of capturing value within $2 billion within a decade, it opens itself for value capture within $30 billion  in the window of decades. And you allow LPs which desire to exit to go.

That is why I did not design Tekedia Capital as a typical VC firm. I did the math and discovered that more than 90% of VCs are leaving money on the table because of artificial constraints of time they created. They become operators at the center of the smiling curve instead of at the edges. For all the backers of Facebook or Tesla, the greatest winners are the investors who got in early when they went public. The VCs who exited within the first 10 years of this company life  left value on the table.

(Some funds are structured to have expiration dates, typically 7-10 years which the fund must close and return money to limited partners.)

By removing time, Tekedia Capital investors will capture not initial opportunities but also latter day opportunities in our companies. In a cambrian moment, restricting boundless opportunities by time does not seem right. Tekedia Capital will play at both the center and the edges. And we want to ring the bell in a public market, unrestricted by time.

This is my destination: in the future, and because we have no constraints of time, as our startups mature, we can stay the course and capture compounding value by taking Tekedia Capital public. That seems like a great business model even for a business that focuses on analyzing business models from startups.

 

Comment: Not an area I understand very well, but certainly one that I am keenly interested in. I do think it is a risk reward thing for VCs. Yes, they take the biggest risks in the life of a new business venture, but they tend to do so often with a sit on the board, and thus exercising reasonable control over how things are done. The key objective is always to hit the right traction and make the business look as good as it possibly can. After IPO, especially for overhyped (or over-pumped) companies with unrealistic valuations, what tends to happen? The statistics is that 60% of IPOs lose value, falling below their pre IPO valuation within the first 5 years. Calculating the expected loss for a VC based on these realities, I can guess, is the reason they jump out at IPO. A few firms do go on to achieve astronomical growth, but on a probability expectation basis, I think I do understand why VCs behave as they do

My response: Your data is possibly based before the innovation age. I do think there was an inflection point from 2016 as cloud computing, mobile internet and software converged. Adjusting the impact of covid-19, most tech-firms have outperformed in the public market over that 5-year window. I used that data as I made the decision to setup my firm.

What happened in 1980, 2000 , etc could have made sense then, but now, I do think the innovation age offers new opportunities with new business models. I am bullish on the promises of this cambrian moment and we are just at the early phase of it.

There is only one movement: upward!

Beijing Approves Baidu’s Robotaxi for Commercial Use

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China’s Baidu robotaxi will start charging ride fees from Thursday, the self-driving vehicle startup has told CNBC, marking a new era in the cab industry.

Baidu, like its U.S. counterparts, Waymo, Tesla and Cruise, has been working on the technology to produce trustworthy driverless vehicles that can be approved by regulators.

Chinese regulators approved Baidu to operate in Beijing ahead of U.S. companies when local authorities in the U.S. are still working to set the driverless taxis rolling in U.S. cities. Baidu’s permit for commercial autonomous vehicle operations covers a 60 square kilometer area, including a town called Yizhuang that’s home to many businesses such as JD.com’s headquarters. The region is about half an hour’s drive south of central Beijing, CNBC said.

Baidu’s Intelligent Driving Group told CNBC in an exclusive interview that the approval sets precedent for other Chinese cities.

“It sets the stage for other cities like Shanghai, Guangzhou and Shenzhen to do the same,” says Wei Dong, vice president and chief security operation officer, at He, adding that he expects those cities to act later this year or early next year.

Self-driving cars have been on trials in China’s cities for long, with focus on efficiency. The approval for Baidu to operate commercially in Beijing means the trials have reached a satisfying stage. But then, it may disrupt the transport market.

The “How much will it cost?” the question has been an integral part of robotaxis’ rollout, since the cost of rides will form a large part of its success. CNBC analysis took a dig at the question.

Effective Thursday, Baidu’s Apollo unit that runs the robotaxi business can collect fares from passengers taking one of 67 self-driving cars in Beijing’s suburban district of Yizhuang.

While the company did not disclose exact pricing, it said fares would be comparable with the premium level ride-hailing charges available through apps like Didi, which can cost twice as much as ordinary rides.

Baidu has offered free robotaxi rides in Yizhuang since October 2020. As of Wednesday, the robotaxi app, branded “Luobo Kuaipao,” showed a sample fare of 34 yuan ($5.31) for a 3-kilometer ride (1.86 miles) from a Sam’s Club in Yizhuang to a nearby subway station.

The same route costs about 14 yuan ($2.19) through Didi’s basic express car service. Didi’s sample premium level fare for the same route is 27 yuan.

So far, the novelty of a free, self-driving taxi has drawn a number of regular users in Yizhuang. Wei said more than 20,000 users each take at least 10 rides a month. It’s unclear how many will keep using the service when they have to pay for it, but Wei aims to get an additional 100 robotaxi cars verified each year.

Though trust in the capability of the robotaxi is growing, consumers are still largely skeptical. This means, a lot of commuters would choose a manned cab over self-driving one. And that poses a challenge to the profitability of the emerging market.

In the past few years, there has been an uptick in the push to develop robotaxis, in China and the United States. It has created a spontaneous competition between the two superpowers, and China, with this Baidu’s commercial operation approval, is winning.

The Beijing city government has made Yizhuang a testing site for autonomous driving by allowing companies to trial their projects there, just as some local governments in the U.S. have done to accelerate production.

With many of the companies, including AutoX, Alibaba-backed autonomous driving vehicle, nearing the last stages of their trials in China, the manned taxi market will soon have the robotaxis to compete with.