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Home Blog Page 5528

The Lessons from Failure, for Success

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Source: Titanium Success

Whenever you have a setback, besides looking at the outcomes, spend more time on the processes that lead to the failures. The biggest failure is NOT fixing things that lead to failures.

Comments from LinkedIn Feed

Comment #1 – If you are not failing, you will not still have a good understanding of what success looks like, you acquire depth from your failings, and not your successes. Nobody thinks at the highest level when everything is fine and rosy, rather it’s when it’s bumpy and uncertain.

Comment #2 –  In the words of Winston Churchill “success consists of going from failure to failure with no loss of enthusiasm”.

LinkedIn is Winding Down Chinese Version, to Set Up InJobs Instead

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Microsoft-owned professional social network, LinkedIn, is winding down in China, the company has announced on Thursday. The decision to wind down follows increasing censorship rules by the authorities in China, which have made it difficult for the company to uphold rights to freedom of expression.

Last month, LinkedIn blocked profiles of researchers and journalists in China over ‘prohibited content’ that is considered offensive to the country’s Communist Party. The professional social network told affected users that it has an obligation to adhere to the requirements of the Chinese government in order to operate in China.

In 2014, LinkedIn launched a localized version in China in strict adherence to requirements of the Chinese government on Internet platforms. The company said it took the approach in order to “create value for our members in China and around the world.”

LinkedIn has succeeded in being the only Western social media company allowed to operate in China. A feat the company said it achieved by establishing a clear set of guidelines to follow in case there is a need to re-evaluate the localized version of LinkedIn in China. But things have changed significantly since then.

“While we’ve found success in helping Chinese members find jobs and economic opportunity, we have not found that same level of success in the more social aspects of sharing and staying informed. We’re also facing a significantly more challenging operating environment and greater compliance requirements in China,” the company said in a blog post.

“Given this, we’ve made the decision to sunset the current localized version of LinkedIn, which is how people in China access LinkedIn’s global social media platform, later this year.”

LinkedIn came under heavy criticism after its censorship update on publishers’ profiles last month, with many journalists and researchers accusing the company of “choosing profit over truth” and freedom of expression. Several journalists and writers shared the email they received from LinkedIn in September, pointing out the reasons why their profiles were removed.

A journalist, Greg Bruno told Insider that his book, “Blessings from Beijing: Inside China’s Soft-Power war on Tibet,” was listed on his profile, and could have been the reason his profile was blocked. Another journalist, Melissa Chan posted her email on Twitter, explaining that her profile might have been blocked because it contains some publications that the Chinese authorities don’t want to see.

“Could be many things – from this year’s piece about Uyghurs in exile, to my essay on democracy,” Chan said.

China has been facing widespread criticism over gross human rights abuses, especially the recent persecution of Uyghur Muslims. The Asian country has denied all allegations but has kept tightening its firewall, a censorship technology that prevents information not approved by the government from going in and out of China.

However, LinkedIn said it would continue to work for the interest of professional communities in China in line with its vision to build a global economy that delivers more prosperity and progress to people all over the world. The company said it will launch a new platform that will replace the localized LinkedIn – but strictly for jobs.

“Our new strategy for China is to put our focus on helping China-based professionals find jobs in China and Chinese companies find quality candidates. Later this year, we will launch InJobs, a new, standalone jobs application for China,” LinkedIn said in a statement. “InJobs will not include a social feed or the ability to share posts or articles. We will also continue to work with Chinese businesses to help them create economic opportunity.”

Flutterwave To Eclipse $3 Billion Valuation With New Funding – Bloomberg

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I maintain an excel sheet which I use to track many things. In one sheet, I track India and Africa, and specifically the startup ecosystems. India and Africa have about the same population and GDP! What that tells me is this: if Indian startups are becoming double and triple unicorns (a unicorn has a valuation of at least US$1 billion), anyone that can unite African economies can generate the same. More so, when I see a business model, I try to see how that performed in India, to ascertain its viability. Many things are common if you look deeper. 

Yes, if India’s largest fintech, Paytm, is worth close to $30 billion, Africa’s largest fintech companies should be worth at least $10 billion, discounting the inefficiency from the disparate African economies.

So on that basis, the news that Flutterwave is hitting $3 billion makes sense. As I have said many times, this is a cambrian moment, and if that happens, Flutterwave will become the largest financial institution in Africa, overtaking OPay which was last valued at $2 billion. The banks have since made ways for the future.

Flutterwave Inc., a Nigerian payments firm, is seeking fresh funding at a valuation of $3 billion or more, a figure that would roughly triple its last valuation, according to people with knowledge of the matter.

The startup, which has offices in Lagos, Nigeria and San Francisco, recently held discussions with potential investors, the people said. Terms of the funding round haven’t been finalized, and it’s possible they may change.

Led by Chief Executive Officer Olugbenga Agboola, the company in March said it had achieved unicorn status after raising $170 million in a round led by Avenir Growth Capital and Tiger Global Management LLC. Other participating investors in that deal included DST Global, Greycroft, Insight Partners and Salesforce Ventures, the company said at the time.

By 2025, these startups will do to the “new generation banks” what they did to the old banks in Nigeria: displacement. At Tekedia Capital, we are very excited on what we see – the future is full of abundance.

X-raying The Intrigues Of Internet Hacking

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Internet/computer hacking constitutes the most recent cyber-crimes. The act, best described as a monster, has over the past decade been of great concern to the teeming cyber subscribers.

Prior to the invention of the internet, criminals had to dig through people’s trash or intercept their mails to steal their personal information. Now that all the required information is available online, criminals presently use the internet to steal people’s identities, either via trick or infecting their devices with malware.

Most cyber-crimes are committed by individuals or small groups, though large organized criminal groups also take advantage of the Internet. These so-called professional criminals find new ways to commit old or ancient crimes. They treat cyber-crimes like a business and form global criminal communities.

Criminal communities share strategies and tools and can combine forces to launch coordinated attacks. They even have an underground marketplace where cyber criminals can purchase and sell stolen information or identities.

It’s very difficult to track cyber criminals down, because the internet makes it easier for people to do things anonymously and from any location on the globe. Needless to say that many computers used in various destinations have actually been hacked and are being controlled by someone far away.

For hackers who want to come clean and turn away from crime out of pretence, one option is to work for the people they used to torment by becoming their security consultants or employees. These sets of hackers are referred to as “Grey-Hat hackers”.

In the past, they were addressed as “Black-Hat hackers” who used their computer expertise to break into systems and steal information illegally while posing as a friend or dedicated employee/consultant.

But presently, some of them are acting as “White-Hat hackers” who specialize in testing the security strength of their clients’ information systems. If the interest of this set of hackers is to be paid, they will attempt to hack into a company’s network and then present the affected company with a report detailing the existing security loopholes of the establishment and how those anomalies could be tackled.

The advantage of the white-hat pattern is that they can use their skills for a good cause and help stop other cyber criminals, since keeping up with security and cyber criminals is a full-time job and many companies can’t afford financially to have someone totally dedicated to it.

Another recent devastating aspect of internet hacking is the “social engineering” routine. Social engineering is a tactic used by cyber criminals that use lies and manipulations to trick people into revealing their personal information. The attackers under this pattern frequently involve very convincing fake stories to lure victims into their trap.

Some of these tricks include: sending victims an email that claims there’s problem with their account and has a link to a fake website, trying to convince victims to open email attachments that contain malware, pretending to be a network/account administrator and asking for the victim’s password to perform maintenance activity, as well as claiming that the victim has won a prize but must give their credit card information or bank account details in order to receive it, just to mention but a few.

The recent antics of cyber criminals, which are barbaric and inhumane, call for constant and consistent update of advanced anti-hacking computer software by software producers, and the adequate dissemination of the said software to the apt quarters.

Presently, most developing countries across the global community are less-privileged in regard to advanced anti-hacking or anti-malware software. In view of this, they are expected to act fast in this regard.

These mostly affected nations, such as Nigeria, could boast of world class experts on software programming. This set of professionals, especially the young ones, needs to be encouraged by the government by setting up an industry that would enable them to commercialize their expertise.

The Communication agency of the countries is supposed to have a thoroughly equipped internet-based communication unit comprising well experienced experts and consultants. Such a unit, meant to function as a spy, would help to checkmate activities being carried out by every internet user at all nooks and crannies of the country on a daily basis.

Legislation must equally be used to checkmate the daily ugly activities of the criminals. Hence, the legislators in the concerned nations are required to sit up towards doing the needful.

There would be a need to set up a special court to be made up of uncompromising judicial custodians to prosecute anyone accused of any form of cyber-crime, particularly internet hacking that has hitherto countless countries a colossal economic loss.

Most importantly, every computer/internet firm owner ought to endeavour to engage an expert on Ethical Hacking. Our various schools at all levels, the tertiary institutions in particular, should on their part take teachings on internet hacking more seriously in the ongoing general studies on Computer Literacy.

The fact remains that if the relevant authorities commence from the foundation level to educate the young ones on the needful as regards the lingering Information Technology (IT) menace, when they eventually become in-charge of any enterprise in the future, they wouldn’t be taken unawares.

Above all, people either as individuals or entities are advised to set strict passwords, change them regularly as well as never endeavour to share any of the passcodes with whosoever toward averting any form of regret or trauma. 

Facebook Research Leak Ignites Campaign for Private Data Legislation

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It has been more than a week of adversarial events for Facebook, and not better days appear to be ahead. The social media giant has been caught in allegations of moral deficiency, after a leak revealed it deliberately chooses profit over public safety. Now there is an uprising that may mar its ad-based business empire.

Common Dreams reported on a new campaign calling for federal action to “shut down Facebook’s surveillance machine” including passing legislation to ensure strong data privacy protections.

“The best way to stop Facebook’s harms for the whole world is to cut off the fuel supply for its dangerous machine,” says the How to Stop Facebook campaign, launched Wednesday by a diverse coalition of over 40 organizations.

Frances Haugen, Facebook’s former product manager, recently leaked documents of the social media’s internal research that reveals it knows how much harm the platform causes but chooses to ignore it. She had testified before a Senate Committee and suggested tighter regulation as a way to keep the social media platform in check.

The How to Stop Facebook campaign is touting a tighter private data legislation, arguing that the fuel driving Facebook’s business model is the trove of user data the company amasses to power algorithms that generate ad revenue and corporate profits.

“The problem with companies like Facebook and YouTube is not that they host user-generated content, it’s that they use surveillance-driven algorithms to pick and choose what content goes viral and what content no one sees, in order to keep us all on the platform clicking and scrolling to maximize advertising revenue,” said Fight for the Future director Evan Greer.

Facebook did put out a rebuttal. CEO Mark Zuckerberg, in a statement issued last week, following Facebook’s recovery from its six-hour outage, refuted Haugen’s allegations.

“We care deeply about issues like safety, well-being and mental health. It’s difficult to see coverage that misrepresents our work and our motives. At the most basic level, I think most of us just don’t recognize the false picture of the company that is being painted,” he said.

However, this attempt to tell the Facebook side of the story has failed to calm the avalanche of criticism that has greeted the leak, forcing Facebook to take extra steps to address the matter.

Last year, a similar campaign against Facebook took off following the death of George Floyd in the hands of the US police. A coalition of rights groups and companies had started a movement, urging advertisers to boycott Facebook until it addresses the rising concerns that its platform is aiding racial injustice and is upholding moral decadence.

But the campaign failed as Facebook posted more revenue than expected. That means, even though many companies joined the calls to boycott Facebook by halting their ad purchases, Facebook was neither hurt nor deterred.

Now the new coalition whose members include Fight for the Future, Win Without War, Media Justice, Public Knowledge, and United We Dream are taking a different approach.

According to Sara Collins, policy counsel at Public Knowledge, “The harms described by Ms. Haugen are fueled by unrestrained data collection and data use.”

A petition linked to the campaign lays out a number of recommendations:

Congress must pass strong data privacy legislation, and the FTC should move forward with rule making that prohibits companies from collecting, purchasing, or otherwise acquiring user information beyond what is needed to provide the service requested by the user, and from using this information for another purpose or to transfer it to another company without the user’s explicit, opt-in consent. There should also be clear guardrails around what companies can do. People shouldn’t have to pay more if they assert their privacy rights, using a service shouldn’t be conditioned on turning over personal information that is not necessary, and technology companies should not be able to discriminate against people in ways that would be illegal in the physical world or that undermine the intent of existing civil rights laws.

A further recommendation is for lawmakers to use their subpoena power and begin a full investigation into “Facebook’s harms.”

As Myaisha Hayes, campaign strategies director of Media Justice, sees it, the need to address the sweeping harms is urgent.

“Facebook’s surveillance capitalist business model is fundamentally incompatible with basic human rights,” she said, “and disproportionately harms Black and brown communities by silencing our voices while artificially amplifying racist and harmful content.”

The company’s “surveillance machine,” she added, “is putting our communities and our democracy in danger. It’s time for lawmakers to cut off their fuel supply by passing a strong data privacy law.”

Besides issuing a rebuttal, Facebook has extended an invite to Haugen to speak with the content moderation Board. The Board said it hopes to “gather information that can help push for greater transparency and accountability from Facebook through our case decisions and recommendations.”

Advertising is Facebook’s major means of revenue. The company was deeply hurt earlier in the year, after Apple implemented a new iOS policy prohibiting it from harvesting private data for targeted ads from unconsenting users. A tighter private data legislation will likely see Facebook’s revenue plummet – a jeopardy for its growth.