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Home Blog Page 6467

Amazon Goes Double Play With “Just Walk Out”

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This is another double play innovation: “Amazon on Monday announced it will now offer its cashierless store technology, called “Just Walk Out,” to other retailers. The technology uses a combination of cameras, sensors, computer vision techniques and deep learning to allow customers to shop, then leave the store without waiting in line to pay. This is the same technology that today powers the Amazon Go cashierless convenience stores and Amazon’s newly launched Amazon Go Grocery store in Seattle.”

Just like it introduced AWS, Amazon has another product it can “tax” retailers just as it got them into its cloud business after making them see a hopeless future of physical retail in U.S unless you are Target, Bestbuy or Walmart. Yes, if you are a retailer and use this technology, Amazon is very sure that as you grow, it has a portion secured because you will need more of Just Walk Out!

You run an ecommerce operation, and your cloud services come from Amazon. You run a digitized retailing system, and the services come from Amazon. Think of the power of double play strategy working on you!

This is the ATM machine of retail. Yes, just as banks eliminate those special people to save money in front offices, Amazon has put a steroid on job destruction in the retail sector.

Just Walk Out technology enables shoppers to simply enter a store, grab what they want, and just go. Born from years of experience at Amazon Go, Just Walk Out uses a combination of technologies to eliminate checkout lines. We now offer retailers the ability to leverage this technology in their stores to help bring fast and convenient checkout experiences to more shoppers.

In Just Walk Out-enabled stores, shoppers enter the store using a credit card. They don’t need to download an app or create an Amazon account. Our Just Walk Out technology detects what products shoppers take from or return to the shelves and keeps track of them in a virtual cart. When done shopping, they can just walk out and their credit card will be charged for the items in their virtual cart. If shoppers need a receipt, they can visit a kiosk in the store and enter their email address. A receipt will be emailed to them for this trip. If they use the same credit card to enter this or any other Just Walk Out-enabled store in the future, a receipt will be emailed to them automatically.

Nigeria Has Been Downgraded by Standard and Poor’s (S&P)

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Perception and Reality:

Recently, the International credit rating Agency Standard and Poor’s (S&P) announced that it had lowered Nigeria’s credit rating to “negative” from “stable” due to it declining foreign exchange reserves.

Foreign exchange reserves levels have fallen from $45 billion at midyear 2019 to $38 billion at the end of 2019 and $36.5 billion in February 2020. With the S & P outlook change, all the three international rating agencies have a negative outlook on Nigeria’s sovereign credit rating.

The issues highlighted befalling the Africa’s largest economy include, the nation economic growth remain weak, slower than it several peers at similar rating level, government sizable debt, strong dependence on oil revenue, and external pressure, signal by dwindling foreign exchange reserves, owing to the late passage of the budget in 2019, resulted in increased financing from central bank through overdraft facilities.

The reality is that the tougher economic condition in the country is likely to worsened by declining oil prices, triggered by COVID-19 pandemic and compliance with OPEC quotas of 1.77mb/d ( with other possible cuts).

Certainly the negative credit rating signaled a possibility of costlier debt should Nigeria proceed with its Eurobonds, foreign investors could demand higher premium on the back of perceived risk rating due to the downgrade. Amid increasing pressure on oil revenues with increasing instability of the global economy, a broadly defensive foreign exchange policy stance and rising FGN debt obligation, perception seem rather than agreement with reality.

“The Rise of ALL” – The Message from a Virus

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In the past, the philosophy was the rise of the few, because the world was largely disparate in many ways. Provided my wine continues to taste great in New York, London or Berlin, I do not care what happens in Beijing, Nairobi and Santiago. Yes, all their problems would end there!

Unfortunately, the new world is totally different because the world is more integrated and intertwined that no one can disconnect nations easily despite any travel ban or restrictions. Today, coronavirus is normalizing global leaders to understand the reason to push for the RISE OF ALL, and not Just The Few (watch my national TV address on the Platform where I made the case for the Rise of All).

The U.S. Commerce Secretary, Wilbur Ross, could not hold his emotions when he thought that coronavirus would provide a competitive advantage to the United States as China deals with the demons in this virus. Unfortunately, today, the virus is ravaging everything on its path, and that bull that makes Mr Ross happy is getting drowned as Wall Street money men are running for safety. The Dow, a U.S. stock index, lost more than 2,000 points today.

May the world leaders pursue the Rise of ALL because in today’s economic infrastructure, nothing else makes sense. This virus is educating and normalizing many leaders who thought it was a great idea to cut a few $millions the United States was sending to foreign countries to build capabilities to prevent infectious diseases. These leaders failed to understand that spending the millions to save hundreds of billions of dollars now lost in stock markets, productivity, etc is chicken change.

The Dow Jones Industrial Average closed over 2,000 points lower, coming back from a point drop of more than 2,150 points, or 8.2 percent, at session lows while the S&P 500 and Nasdaq Composite were lower by 7.9 percent and 7.2 percent, respectively.

Monday’s sharp selloff, which caused the major averages to be temporarily halted due to volatility, caused the New York Federal Reserve to increase its daily cash injections into the banking system to $150 billion from $100 billion.

The stock-market’s steep slide comes after a production dispute between OPEC members, led by Saudi Arabia, and Russia sent West Texas Intermediate crude oil, the U.S. benchmark, plunging by as much as 33.8 percent, the most since the outbreak of the 1991 Persian Gulf War, to a low of $27.34 a barrel in overnight trading. The energy component finished the day down 24.59 percent at $31.13 a barrel

Our Portfolio Expands With Investment Entity and Smart Gaming Startup (Lagos, and Florida)

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Last week I joined an amazing investing advisory entity in Lagos as a shareholder and a Board member. Today, I joined a Florida-based gaming company which does in-game and in-entertainment advertising as a Board member and a shareholder; the firm has a bigger vault from external funding also. As our founders get ready to be introduced to the community, I am letting our community know that our portfolio has expanded in these domains. The gaming firm is also starting operations in Lagos and Nairobi, and our team is on ground already: let’s help to take your message further. Connect with my team on click here as we are ready to serve your market frictions.

Investment advisory. Smart gaming. >>> Fixing market frictions.