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Tag: Facebook

  • That’s so Meta, Dude!

    That’s so Meta, Dude!

    The adage that whatever you see in science fiction, you will witness in reality, seems to ring true more than ever in the 21st century. In fact, Facebook founder, Mark Zuckerberg is probably one of the biggest believers having bought the virtual reality company, Oculus as far back as 2014.

    Now, he and people from all walks of life are embracing the creation and adoption of a “Metaverse”. 

    But is this a buzz term or a new reality, and are the ultra-rich throwing money at it because they are trying to entertain themselves? Or is it because they actually want to ‘augment’ hundreds of millions of peoples’ senses of reality with beneficial technology? 

    Like many things in life, the truth isn’t black or white in this regard. While multi-dollar billionaires including Elon Musk and Jeff Bezos have looked to build cities in space that we can escape to when the world becomes overpopulated or uninhabitable, others are developing the ‘Metaverse’ as a complementary set of enhancements and parallel spaces for our lives on earth.   

    What is The Metaverse?

    Is the Metaverse more than just ‘sales speak’ for a bunch of sales-speak-for-tech companies? It has been bandied about throughout 2021 but Zuckerberg has been even more brazen, having announced at the end of October that Facebook would be rebranded as Meta. Rather cheeky!

    But what is this swanky new world we may soon be living, and maybe thriving in? I’ve been called Mr. Anderson for over 20 years, so it feels like a fitting time, with the release of the fourth Matrix movie, to ask: “What is the Metaverse(Matrix)?” 

    The Metaverse is a hypothesised iteration of the Internet, that supports persistent online 3-D virtual environments via conventional personal computing, as well as virtual & augmented reality headsets.

    Wikipedia

    It’s still being given a concrete definition but essentially it is an advanced version of the Internet wherein we can become immersed. You don’t just look at the Internet; you are ‘digitally immersed’ in it. Instead of just looking at a 3D object on your PC using a mouse to scroll up and down to see it from different angles, in the Metaverse your brain will convince you that you are in the same world as that object.

    Metaverses, in some limited form, were already present on platforms like VR-Chat or video games like Second Life. These suggest that we have been moving toward living in a Metaverse for years. But why should we care so much now about the Metaverse then?

    Why The Metaverse Matters

    The Metaverse has the potential to bring fulfilment, economic opportunity and equity to people. But, for this to happen, we would probably need a situation where a handful of companies – here’s looking at you Zuckerberg – are prevented from dominating it. The virtual world could overcome the shortcomings of the physical one which humanity has lived on for millennia. Digital environments could become actual places where people don’t only live; but also thrive.

    It is for these reasons that we believe Metaverses will be pervasive across our lives from a young age until our retirement.

    Images courtesy of the respective companies

    For example, the gaming platform, Roblox might be unknown to well, adults, but this 13-year-old platform is booming. Children and teenagers use this platform to play existing games together but also to create new games. It also sports a marketplace where users can sell those experiences and other products like online outfits and personalized avatars. Another incredibly popular online multiplayer game Fortnite is well poised to switch its huge user-base into ‘Metaversians’. Two upcoming multi-billion dollar gaming platforms built on Blockchain technologies are Decentraland and The Sandbox.

    The former made the news recently when a tech company bought a patch of virtual real estate in the Decentraland metaverse for 618,000 MANA (its native currency) – valued at $3.2 million.

    Virtual ‘land’ and other items (digital assets) in Decentraland are sold in the form of non-fungible tokens (NFTs), which are a class of crypto assets. All of these are authenticated using a Smart Contract component of the blockchain.

    Play-to-earn is another incentive to getting onto the Metaverse. You will now be able to earn virtual tokens (with monetary value) while emersed in your favourite game. This no-brainer strategy has seen an explosion of Blockchain play-to-earn games in the last quarter of 2021.

    Other Use Cases

    Back in the “real working world” virtual productivity platforms are also growing as companies’ employees use MS Teams, Zoom and other platforms to be able to communicate easily and at any time.

    You will be able to now have online offices and attend online conferences in virtual conference centres while represented by avatars. No more suiting up or wasting time on perfect makeup! So, while one can’t stop people from spending time in a cyber world, we can, however, enhance their experiences using cutting-edge technology.

    The opportunities for business and revenue generation will not be limited. Simulations for building and engineering projects will make presentations almost real – without having to travel to the actual sites. Online gambling/shopping companies will also look to capitalise by offering virtual casinos and stores in the Metaverse.

    Marketing Spin-offs

    There are even talks that companies may sell apparel and clothing and are designing virtual versions thereof. Virtual shoes could become status symbols which is rather bizarre but perhaps fun for the nouveau riche. Joke if you want but brands like Gucci, Adidas, and Nike are prepping (with partnerships) to board the Metaverse for obvious marketing opportunities.

    People are rapidly immersing themselves in virtual and augmented reality (VR/AR) worlds. Headsets are becoming more affordable and an assortment of AR/VR programmes are being written daily. These include entertainment programmes for PlayStation 5 as well as for pornography apps (another billion-dollar industry).

    Soon the Metaverse will become a tool that improves our lives and will go beyond being just an entertainment novelty.

    It doesn’t stop here. There is a little-known Metaverse company currently worth $2bn, that has made some major breakthroughs using Blockchain tech. They have actually created a device to scan entire people and objects to immerse them into the digital world.

    The ambitious project, MetaHero will be paying people a decent amount to have their avatars made and used in games from January 2022. Sounds absurd but perhaps you need to take a look yourselves.

    Final Word of Caution

    Bear in mind that the Metaverse may exacerbate problems faced by humans because of the Internet. We need a better grasp of managing data rights, data security, misinformation, the radicalisation of morally wrong ideas such as racism and vaccine hesitancy as well as platform power.

    Somebody needs to rein the likes of Facebook, um I mean Meta, in. We should not just allow the Metaverses to distract millions of us with a ‘wonderful’ cyber world.

  • 2019 in Tech

    2019 in Tech

    This year may have felt like it was dominated by political shenanigans, but technology also had its wild ride.

    The USA vs Huawei

    A story that has persisted throughout the year is the heat around Huawei in the US. The Americans have stopped Huawei phones from being sold in their country because they say the Chinese mobile phone maker has stolen technology from American companies and has spied on them.

    The tussle began in 2018 but kicked into gear in 2019. Nevertheless, some American companies and organisations are still doing business with Huawei despite the ban by US President Trump’s government.

    The President of Microsoft, Brad Smith, also wants to the US government to offer more evidence to back up its Huawei ban. 

    The core issue with Huawei has been around concerns with Huawei’s close relationship with the Chinese government and fears that its equipment could be used to spy on other countries and companies.

    Huawei has also hit back at US ‘bandwagon followers’ and recently threatened to boycott Germany’s Auto industry if the European powerhouse banned them from offering 5G (broadband) in the country.

    Not a great year for big tech

    Big technological companies like Facebook, Alphabet, Google and Uber have faced a barrage of probes in 2019 be it around anti-competitive behaviour, spying on customers or their staff abusing customers. We also haven’t seen many new companies graduate to super-size status.

    After a long drought of big-name tech IPO (initial public offerings), 2019 promised to be a banner year. A crop of highly anticipated, highly valued tech companies — with hot marquee names such as Lyft, Uber, Pinterest, and Slack listed on the public markets. The idea was to allow you to take a stake in their business.

    Their reception, however, was truly tough. These companies’ stocks have not gained momentum and being listed has attracted greater public scrutiny.

    The biggest disappointment, however, must be WeWork’s failed proposed listing and its subsequent business fallout.

    The hottest things in tech

    Artificial Intelligence (AI) – We’ve been talking about this for decades since Terminator came out but scientists are managing to harness the technology especially in manufacturing and medical fields.

    Most of the top tech companies (Microsoft, IBM, Amazon, and Google) have already embraced AI. Many tout it as one of the main distinguishing features to set them apart competitively.

    A little of this tech has gone into robotics with much fanfare and fear over their capabilities and propensity to ‘initiate a judgement day’. Check out Boston Dynamics

    Bitcoin
    Bitcoin

    Blockchain – Bitcoin may be highly volatile and not the get rich quick scheme people thought it could be, but it is still out there. Clever people are finding ways of making commerce more efficient.

    There are however several practical and use-cases for Blockchain-based tokens and tech other than for payments and investments.

    Robotic Process Automation (RPA) – this is a technology that could explode in 2020. Right now, only large enterprises are using RPA but it could become more affordable and workable for smaller businesses in 2020. RPA is the process of automating mundane tasks such as taking data from one file and entering it into a business application like CRM software.

    It’s about computerizing repetitive tasks that are an inefficient use of time, so it makes our lives more efficient. 

    RPA is not a physical robot. It is also an approach to working across multiple business applications and entering, maintaining, migrating, integrating, mining and testing data on spreadsheets.

    These tasks are prone to human error which is why computerizing them makes so much sense.

    amazon web servies edge computing ad

     Virtual Reality and Augmented Reality – VR made strong progress in 2019. This was most useful in gaming, real estate companies, pornographic entertainment and for people with disabilities.

    For you gamers – it is best to buy an Oculus Quest for your PC. Sony’s VR headset is still the best and only gaming set.

    Look after my data – or not!

    The first fines around the General Data Protection Regulation (GDPR) were lodged in parts of the EU. The GDPR was promulgated in 2016. It is a regulation in EU law on data protection and privacy for all individual citizens of the EU and the European Economic Area.

    It also addresses the transfer of personal data outside the EU and EEA areas. GDPR was enforced because of concerns about data breaches and attacks on privacy by the likes of Facebook and Google.

    Then there were concerns our banks, insurance, and other data keepers were selling or losing our data to dangerous entities.

    The types of personal data exposed included your names, addresses, phone numbers, email addresses, and even passport numbers.

    Lessons learned

    The Marriott hotel group’s data breach of 2018 resulted in the exposure of 339-million customer records. Around 30-million of the records belonged to European Union citizens, and therefore they were subjected to a GDPR fine.

    Facebook seems to love controversy and had been found to have allowed a massive 247 million user (mostly Americans) data leak.

    Back home in Berlin, on October 30th the Berlin Commissioner for Data Protection and Freedom of Information issued a €14.5m fine on a German real estate group, die Deutsche Wohnen SE. This was the highest German GDPR fine yet. The infraction related to the over retention of personal data.

    Despite the turbulent year for tech companies and consumers, we look to 2020 with breathless anticipation. We also ponder on which of the mentioned technologies will stick out and make a positive impact on our lives.

    Pictures courtesy of Pixabay

  • Digital Dribs & DApps!

    Digital Dribs & DApps!

    We have barely scratched the surface with the Internet (from the early eighties) and it is already seemingly being threatened with the competition. A possible replacement by a new phenomenon.

    Well, for lack of a better word, “replaced” has connotations of a dying Internet. This is far from accurate. This new phenomenon – fostered by blockchain technology, will change the way we use and consume the Internet as a service.

    So, what is this new Internet-like system creating waves online? And why is it making online marketers quiver at the prospect of them losing out on the exponential revenues they have previously enjoyed?


    Well, without hyping it up any further, it is called Distributed Applications or ‘DApps’ for short.

    A brief history of Apps

    Before we delve further into its meaning and use in the cyber world, perhaps some background context is required.


    The way we use online or mobile applications software or “Apps” has changed how we consume products and services online. Companies jumped onto the bandwagon when they discovered that we mostly use Smartphones for the Internet.

    App developers were then subsequently sought after to create mobile Apps for practically anything.  What started as something mainly for gamers moved quickly onto applications for practically any commercial activity.


    We now use Apps for our shopping; fitness; traveling; online bookings and banking. Developers now create customized software to help us with practically, anything.


    In addition, we now have App stores for every significant tech provider – Microsoft, Google, and Apple to mention a few. This has naturally fattened the pockets of software companies and created an additional stream of income for them.

    The ‘catch’ for using mobile apps is that even though it costs you nothing to download, using them still requires you to register with your personal details. You can also do this by linkingyour existing social media accounts.

    The benefit to App providers

    These Apps, which are integrated with social media services, create a data goldmine for marketers to study and track browsing habits. Through them, marketers can gain valuable insights into your interests and then customize their products/services to sell to you.

    The impetus behind a distributed application system is that it serves to distribute plow some of the wealth garnered from your data via application providers back to you.

    Data mining has become more lucrative and accessible because of Artificial Intelligence (AI) and Machine Learning. Do you ever notice how after browsing online or having a conversation or a chat application like WhatsApp or Facebook Messenger? You go online later, and you see Ads displaying the items you discussed? Creepy isn’t it? Well, that is the future of Web 4.0 for you!

    Staying ‘woke’

    Luckily for us, there is a school of knowledgeable and security-conscious programmers who are not ‘giving in’. They help us understand how the Internet has become a cesspool for marketers to harvest our data. Social media platforms, search engine providers, and mobile application providers facilitate them immensely with this.

    Image Courtesy of blockgeeks

    Imagine getting paid to surf the web for hours. The way you get paid for taking on a survey, partaking in a social experiment, donating an organ or sperm?


    This is the way distributed apps are touted to work. They reward you for the use of specific applications (in a peer-to-peer review setting) with cashable tokens. Seems only fair right?


    Now you can imagine how companies like Cambridge Analytica would react to having to pay you for their use of your data. They would surely be reluctant and that’s why they preferred to work clandestinely. But if they could pay companies like Facebook for the use of data, why not pay us directly?

    Early adoption

    Joining the ‘DApps revolution’ is a no-brainer. Those at the forefront of building and supporting DApps will end up with a more substantial chunk of the market.

    DApps primarily provide you with the use of payment systems. These are specifically known as Smart Contracts and Proof of Work systems.


    There are currently also web-browsers (built as DApps on blockchain platforms such as Ethereum or EOS) that will reward you for merely using their DApps.


    For instance, you are rewarded in cashable tokens to surf the net over applications like Google Chrome, or Mozilla Firefox.


    It is only a matter of time that this form of Internet-browsing and use of applications becomes the norm.


    The Internet revolutionized the way we communicate, socialize, learn, shop, and do business online. DApps however, will determine the way you get compensated for doing the things you love to do online.

  • Digital Fundraising

    Digital Fundraising

    The latest abbreviation in the finance and crypto-world is ‘ICO’. This word, however, gives global financial authorities like the U.S. Securities and Exchange Commission (SEC) nightmares for several reasons.

    250x250

    Not to be confused with Initial Public Offering (IPO) which is used by firms to raise cash through the issuing of shares to the public. An ICO (Initial Coin Offering) works like crowdfunding, but for digital currency and tokens.


    We recently covered a feature on raising funds and capital for a business but missed out on one relatively new method. Many companies are using ICOs to raise capital for their businesses.

    Why ICOs?


    The concept of an ICO works similarly to how a company raises capital through shares in that it is all based on contrived value.


    Funding raising in effect boils down to sales! If your actual product or service has nothing substantial or intrinsic to offer a client base, then it is nothing more than a scam.


    Launching an ICO is quite easy, and to an extent, many tech companies are now catching onto it.

    An ICO is the cryptocurrency space’s rough equivalent to an IPO in the investment world. ICOs act as fundraisers of sorts; a company looking to create a new coin, app, or service launches an ICO.

    Investopedia

    If you still do not believe it is possible, just listen to this testament from someone who did it after unsuccessfully knocking on the doors of conventional funders.


    The alarming spurt rate of ICOs often brings with it a scourge of potential scammers. The SEC and other institutions have to step in to monitor and regulate them.

    Social media platforms like Facebook and Google – which house a bounty of users (potential investors) have banned ICOs ads due to possible prey on unsuspecting investors; exposing them to con artists.

    Basically, the scammers use fancy websites, laden with impressive figures and terminology to con users into buying into their coins or tokens.

    Though the tokens barely even cost a cent, it adds up if they have millions of people buying in.  Once they have reached a certain amount in funding – they close shop and disappear!

    To create a new digital coin:

    Create a product concept or Business Plan for the coin or what is called a Whitepaper. This describes in great detail what the coin or token aims to do; the core technologies behind it; the team and their qualifications; the product’s lifecycle/growth path etc.

    Once completed and water-tight, the whitepaper would be submitted along with an application to one of the best Cryptocurrency Exchanges for review.

    Naturally, you would need some initial working capital for liquidity. Some of this is raised through your savings and others through institutions (via loans etc).

    You must then assure your investors of a solid return on investment (ROI) and deliver – which goes back to sales. Unless your offering is a scam, you actually need to do some work!

    This assurance comes via regular updates (marketing campaigns can have a tremendous or adverse impact on the uptake and price) on milestones reached.

    The updates are also necessary to keep your investors abreast with progress and might convince them to increase funding.

    Growing interest and the addition of more funds create demand for the coin/ token which, in turn, drives up the price and market capitalization.

    Most successful ICOs of all time

    NEO:

    Known as “China’s Ethereum”, and backed by Microsoft, Alibaba and the Chinese government, NEO uses smart contract applications. It does so, however, with the addition of decentralized commerce, digitized assets and identification.
    It enjoyed a considerable hike in token value from $0.03 to $88.20, NEO has big things coming with a 294,000% ROI.

    Ethereum:

    Unlike Bitcoin, the second-most valuable cryptocurrency in the world has more functionality than just being a coin. Its ledger technology is used to build and deploy decentralized applications a.k.a. “smart contract” technology.
    Ethereum’s ROI has been nothing short of jaw-dropping at 230,000%. Having sold its tokens at $0.31, an Ether token now sits at a whopping $713, second in value only to Bitcoin.

    Spectrecoin:

    The “premier privacy-focused cryptocurrency” enables users to send and receive currency worldwide with total anonymity. It is currencies like SpectreCoin that have most government tax offices quaking in their boots.
    If you had repurchased a token in November 2016, that puny $0.001 would be worth $0.64 today, or an ROI of 64,000%.

    Ark:

    With Ark, collaboration is the name of the game. The platform’s SmartBridge is a lightning-fast ecosystem designed to integrate other cryptocurrencies into its blockchain.
    Investors were eager as any to buy in, and they have made a 35,400% gain given today’s token price of $3.54.

    DigixDAO:

    DGD, which stands for Digix Decentralized Autonomous Organization, is a self-governing community. It gives out grants to different projects which will promote the growth of the DGX network.
    At a current value of $346.88 per token, this gives them a return of 10,722%.

    Quantum (QTUM):

    QTUM is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform.
    They hosted a highly successful ICO in March 2017, and since that time has seen an ROI of 6,400%.

    Source: investinblockchain.com

    In conclusion

    The prospect can be daunting for a cryptocurrency investor looking to make money off new investment opportunities while remaining cushioned from fraudulent ICOs and dodgy coins and tokens.


    As there is no guarantee that any cryptocurrency or blockchain-related start-up will be genuine or successful.

    You simply need to be vigilant and take steps such as getting to know the core team, poring over the whitepaper with a big magnifying glass. Naturally, you should be monitoring the progress of the token sales.


    Most importantly, you must just use common sense to gauge just how feasible the project is to ensure that you’re not falling for a scam.

    Remember, if it’s too good to be true, then it isn’t true!

  • Data (Gold) Mining

    Data (Gold) Mining

    Let’s face it, if you really were going to quit Facebook, you would have a few years ago. Fact is, you should have asked the serious questions when the ‘free’ social media platform started turning over billions of dollars.

    No free service can generate that amount of money out of goodwill and thin air. So much that they could list on the stock exchange. So, we are not quite sure why everyone is acting amazed or why the knee-jerk #DeleteFacebook campaign is only now coming to light.


    There really is no such thing as a free lunch. If you believe that all these online social platforms would keep it that way, then you are as naive as they are hoping you to be.


    Think about it, the companies behind the platforms, actively recruit in pretty much tens and hundreds of cities globally.


    And the simple fact of the matter is that in order for them to pay all their staff of programmers, developers, executives, lawyers, and other stakeholders. They need to be paid!

    What your data means

    Facebook, Google, Twitter, Snapchat, and any social media platform that has over 100 million users sit on a goldmine for advertisers.

    The commodity, however, is not just what their users wish to own in the short term, or their purchasing power directly for that matter.

    The commodity is simply you, the user. So, your preferences, habits, and views along with their personal data are analyzed via machine-learning systems to study behaviours and habits.


    The data, in turn, is used for constant revenue maximization. In some extreme cases, it is used for political, psychological, and social manipulation!

    “Your ‘payment’ on a social media platform is your consent to have your information used for marketing purposes. Opting out of marketing would give you true ‘free use’ of the service. But no profiteering company offers you that privilege today. The best you can get is a month’s free trial.”

    Your likes, spending habits, music preferences, political views, location and working habits enables marketers to present their goods and services.


    They can position their offerings (sometimes subliminally) into spaces where you are likely to indulge in them.


    Social media platforms, in this case, become the marketplace for them to ‘mine’ data to use.

    Social network sites worldwide as of January 2018, ranked by the number of active users (in millions).
    Most famous social network sites worldwide

    Source: © Statista 2018

    How the mining works

    text-mining-icon-2793702_640


    Data mining is not a new idea and completely legal if presented transparently in the terms and conditions of any service. The terms get longer by the day (small print) that we don’t bother to read them.
    Microsoft envisioned this a decade ago and changed the way its operating systems work (with its Windows 8 series).

    Its operating systems are now more of a social, interactive, and information gathering system. Allegedly designed to “help you” organize things better.
    This is fostered by a voice-activated app called Cortana – all under one Microsoft account.


    Amazon has its own ways of data mining via your shopping habits and Alexa – is its own voice-activated search and information-providing device.
    Google (owned by Alphabet company) has the biggest stranglehold of the lot. They must, therefore, be the most cautious when it comes to data privacy and security.


    This applies especially with its partnership with Android, which makes it a requirement for you to use for all their devices to link all your data.


    These include phone contacts, emails via Gmail, pictures via GoogleDrive, apps (music, movies, etc) orders via the Google (Play)Store, and social media (Google+).


    You can even have your search fields stored and synced onto your devices – from your laptop to phone and tablet via Google.


    You are now having to give up your personal details to unknown affiliated marketers and partners of tech giants. They get first dibs on this data – and paying good money for it.

    Read more about Affiliate Marketing here

    Required by regulation

    The main violation by Facebook, therefore, might not even be non-consensus selling of data to marketers. Such things could be countered with a clause.
    They may have strategically stuck one in while you were busy posting selfies and liking random videos of cats.


    The real issue is the potential use of the data for political or advanced manipulation of data for fraudulent purposes. This can be facilitated by the use of artificial intelligence to influence you without your knowledge.

    Read more about the uses of Artificial Intelligence here

    250x250

    It is possible for you to have full data privacy and absolute freedom from advertising on social platforms. This, however, comes at a ‘cost’.

    This was reiterated recently by the COO of Facebook who admittedly confirmed that ‘opting out’ would mean you will have to pay to use Facebook in the future.
    They had just not put this in place but will now forcibly have to make it a clearly visible option.

    The fact of the matter is we are in an era of Big Data, the Internet of Things (IoT), and AI. All of these require your data to ‘operate’.

    Data mining is here to stay

    Though many were reluctant at first, pretty much every company now has a Facebook, Twitter, or Instagram page. It serves as a platform to showcase and communicate with thier clients via the newly termed phrase ‘social engagement’.

    This has turned out to become a strong branding and marketing tool for them.


    And if you think you are out of it by leaving one platform, just remember this: Facebook owns WhatsApp & Instagram; Google owns YouTube; Microsoft owns LinkedIn, and so on.


    There is, in fact, nowhere to hide if complete online privacy is important to you. And let’s not forget your web-browser: Not many of us actively use ad-blockers: but your browsing data is being scanned and processed by external third-parties companies.


    If you aren’t using a Virtual Private Network (VPN), you should seriously consider it! Along with some good plug-ins to help secure your online browsing from all types of behind the scenes snooping and ransomware.
    It will be interesting to see the outcome and verdict of the probe into the Facebook case.

    Rest assured, many other heavily used platforms will be deleting and removing ties with data mining marketers. Especially ones that have had a similar agenda to what Cambridge Analytica was accused of conducting.

    A change in the verification of marketers, data storage and data security laws (such as the new GDPR law) were long overdue. Facebook will now be the scapegoat to enforce data security laws on social media.
  • Data (Gold) Mining

    Data (Gold) Mining

    Let’s face it, if you really were going to quit Facebook, you would have a few years ago. Fact is, you should have asked the serious questions when the ‘free’ social media platform started turning over millions and even billions of dollars in revenue. No free service can generate that amount money out of goodwill and thin air – so much that they could list on the stock exchange. So, we are not quite sure why everyone is acting amazed or why the knee-jerk #DeleteFacebook campaign is only now coming to light.

    There really is no such thing as a free lunch and if you believe that all these online social platforms – who may have started off with sole intentions to provide a free service, would keep it that way, then you are as naive as they are hoping you to be. Think about it, the companies behind the platforms, actively recruit in pretty much tens and hundreds of cities globally. And the simple fact of the matter is that in order for them to pay all their (global) staff of programmers, developers, executives, lawyers and other stakeholders – they need revenue.

    Facebook, Google, Twitter, Snapchat and pretty much any social media platform that has over 100 million users, therefore, sit on a goldmine for advertisers. The commodity, however, is not just what their users wish to own in the short term, or their purchasing power directly for that matter. The commodity is simply you, the user. So, your preferences, habits and views along with their personal data are analysed via machine-learning systems to study behaviours and habits for constant revenue maximization or in some extreme cases: political, psychological and social manipulation!

    “Your ‘payment’ on a social media platform is your consent to have your information used for marketing purposes – opting out of marketing would give you true free use of the service. But no profiteering company offers that privilege today – the best you can get is a month’s free trial.”

    Knowing your likes, spending habits, music preferences, political views, personal information including location and working habits is enough for any company or institution to cater their goods and services and position them (sometimes subliminally) into spaces where you are likely to indulge in them. Social media platforms, in this case, become the marketplace for them to ‘mine’ data to use.

    Most famous social network sites worldwide as of January 2018, ranked by number of active users (in millions).

    Most famous social network sites worldwide

    Source: © Statista 2018

    text-mining-icon-2793702_640

    Data mining is not a new idea and completely legal if presented transparently in the terms and conditions of any service – which are getting longer by the day (and smaller in print) that we don’t bother to read them. In fact, Microsoft envisioned this a decade ago and changed the way its operating systems work (beginning with its Windows 8 series), to more of a social, interactive and information gathering system – designed to “help you” organize things better. This is fostered by a voice-activated app called Cortana – all under one Microsoft account.

    Amazon has its own ways of data mining via your shopping habits and Alexa – is own voice-activated search and information-providing device. Google (owned by a group called the Alphabet company) has the biggest stranglehold of the lot and must, therefore, be the most cautious when it comes to data privacy and security.

    This applies especially with its partnership with Android, which makes it a requirement to use for all their devices (phones and tablets) to link up all your data including phone contacts, emails via Gmail, pictures via GoogleDrive, apps (music, movies and games) orders via the Google (Play)Store and social media via Google+. You can even have your search fields stored and synced onto your devices – from your laptop to phone and tablet via Google.

    You are now having to (almost mandatorily) give up your telephone number, location, and other preferences indirectly to unknown affiliated marketers and partners of the tech giants who are getting first dibs on this data – and paying good money for it.

    The main violation by Facebook, therefore, might not even be non-consensus selling of data to marketers, because such things could be countered with a clause they may have strategically stuck in while you were busy posting selfies and liking random videos of cats making funny faces. The real issue is the potential use of the data for political or advanced manipulation of data for fraudulent purpose with the use of sophisticated and artificial intelligence to influence you without your knowledge.

    Read more about the uses of Artificial Intelligence here

    N26_banner-300x250-EN

    Full data privacy, though not conceivable, and absolute freedom from advertising on social platforms is possible – but at a cost. This was reiterated recently by the COO of Facebook who admittedly confirmed that opting out of the terms to have your data sold or used would lead to you having to pay to use Facebook in future. They had just not put this in place but will now forcibly have to make it a clearly visible option.

    250x250The fact of the matter is we are in an era of Big Data, Internet of Things (IoT) and AI – all which require data to analyze. These platforms are thus here to stay and still serve their specific functions well. More importantly, they’re also the livelihood for many small-to-medium-sized businesses. Though many were reluctant at first, pretty much every company now has a Facebook, Twitter or Instagram page to showcase and communicate with their clients via the newly termed phrase ‘social engagement’ – a strong branding and marketing tool.

    And if you think you are out of it by leaving one platform, just remember this: Facebook owns WhatsApp & Instagram; Google owns YouTube; Microsoft owns LinkedIn and so on – there is nowhere to hide if complete online privacy is important to you. And let’s not forget your web-browser – not many people actively use ad-blockers unaware that even their browsing data is being scanned and processed always by external third-parties companies.

    If you aren’t using a Virtual Private Network (VPN), you should seriously consider it along with some good (some free) plug-ins to help secure your online browsing from all types of behind the scenes snooping and ransomware.

    It will be interesting to see the outcome and verdict of the probe into the Facebook case and rest assured, many other heavily used platforms will be deleting and removing ties with data mining marketers that have had a similar agenda to what Cambridge Analytica was accused of conducting.

    A change in verification of marketers, data storage, management and data security laws (such as the new GDPR law targeting businesses coming in May 2018 to the EU region) were long overdue, and Facebook will now be the scapegoat to enforce data security laws on social media.

  • Piggybacking on company shares

    Piggybacking on company shares

    It is clear that the business of share trading and its intricacies still create a dark cloud for many of you. This is, however, a rather unnecessary element of sophistication.

    It is only fair to, therefore, delve in and break it down by discussing not just the way to trade, but the whole point of it.

    While trading may seem like something only smart people engage in, this is, however, not the case.

    What are shares?

    The first thing to understand is that shares (referred to as stocks) entitle the holder to have part ownership in a company.

    So, if you own a share in, Amazon, Manchester United, or a Cryptocurrency company like Ripple – you literally OWN a part of that company.

    You are basically co-owning with other stakeholders of the company. This with the hopes that the people who run it will increase the monetary value of your shareholding by making the company a success.

    Now your share will determine what level of control (decision-making) you have when it comes to the company’s operations.

    Naturally, owning just one, ten, or even 1000 shares of Amazon (a hefty $1400 each today), still does not entitle you to have a say in how it is run.

    As the majority shareholder, you would probably be the company owner (chairman/founder) or one of its board of directors. To gain such a majority shareholding and full control of a company, the minimum number of shares you would need would be 51% of all shares issued. Good luck obtaining that many!

    The rationale for issuing shares

    But let’s take a further step back and unravel why shares are issued in the first place. Your company (hopefully) has value because of its ability to generate revenue. This makes it a constant target for investors in a capitalistic market.  Wealthy individuals carefully monitor its value to brace for a potential takeover or for just a piece of the pie.

    To get listed on a stock exchange your company will decide how much of its equity to publicly issue as shares. You can even issue shares to raise more capital to help grow your business.

    This form of equity will be backed against your total assets (and its debts) on the balance sheet. So hypothetically, a company with 100 Euros worth of assets and liabilities has 100 Euros worth of (owners) equity.

    This basically enables you to determine its net worth at a given point in time.

    The easiest way to remember this is through this basic accountant’s formula:

    Total Owner’s Equity (OE) = Assets (A) + liabilities (L).

    The shares are accounted for in the OE and are issued in denominations based on various factors. This helps to provide you with an indication of the relative strength (or weakness), or potential growth rate of the company.

    What do they tell us?

    The (snapshot) total value of the company is thus determined by its share price multiplied by total number issued. This is referred to as its market capitalization. There are several other measures and tools to evaluate the general health of a company.

    Rising share prices, though always good, does not always necessarily mean that the company is great value for money. This is because share prices can also be undervalued or overvalued.

    Shares for large companies are naturally offered in millions and via an initial public offering (IPO) from as little as one cent (penny stock), or much more (depending on its valuation). Thereon, it can rise astronomically to what was quoted for Amazon earlier.

    Where to get them

    The open market or local bourse is where you can buy and sell shares at specific times depending on side of the world it is located.

    Obtaining shares come with additional costs (brokerage fees, commission, interest payments in cases of leverage buying, etc.). Depending on the terms and conditions in the overall market (regulations), but more specifically, on the company or broker offering you access to shares.

    A good company share will also give you a return on an annual dividend. This is basically a share of the company’s profits over and above its share price.

    It is a good idea to include high dividend-yielding shares like Coca-Cola, in your trading portfolio – if you can afford them.

    Influencers

    Once you purchase your stake in the company, you will naturally, even if you don’t have a controlling say in how the company is operated, take a keen interest in the company’s activities.

    Everything it does whether internal operations or outside for that matter, will have an impact on its valuation.

    Naturally, investors follow the age-long rule of common sense: buy when the price is low. If you missed the IPO and the price dips, you can always get in at a good (low) price. The stock market runs like a rollercoaster – you just need the right time to hop on!

    “Unless a company goes belly-up, a share-stock price that is going down is actually going up – in the long run.”

    Obviously, the price (trend) is not always upward and one must be prepared to weather such storms. You shouldn’t have to be continuously focusing on the price after thorough due diligence on your chosen company.

    Read more about Due Diligence here

    Choosing a good stock and leaving it to work is the best advice you will get. This is because you can become emotionally attached to the performance of the shares and that can affect your mood.

    There are also a lot of trading tools to help prevent a total meltdown if the company folds-up. This can be due to external factors like fraudulent scandals or government intervention. Keep tags now and then – this is important.

    The recent events and scandal faced by Facebook saw it lose a significant amount (billions of dollars) in it the value of its share price.

    Read more about investing here.

    Short-selling of shares/stocks

    There are also ways to “have your bread buttered both ways” in investing. This is where the concept of short-selling comes in.

    So, while we all inclined to bet on a company’s stock to go up – there are groups of investors who bet the other way. They have the hopes (based on indicators) that the price will rather drop.

    This seemingly dubious form of trading is perfectly legit but comes, naturally, with an even higher level of risk. If the price increases in favour of all ‘normal’ long-term investors – the short position starts losing money. You may even have to fork out more to cover the amount borrowed to make the short-sell in the first place.

    Short-selling is, therefore, if you are inexperienced and ill-informed!

    So, you “buy” or rather borrow (leverage) the future value of the share/stock price usually at its apparent peak and hope that it will drop. You will continue to profit from the bet by as much as the share price continues to drop.

    Earlier in the year, one such investor dubbed “50 Cent” bagged 200-million-dollars in a major shorting stint.

    Shorting a stock is a complex, risky but highly lucrative method of balancing out a portfolio. A seasoned trader will, therefore, have several positions including some “buy” and “sell” positions on their chosen shares.

    You should have various mechanisms (take profits and stop losses) set in place to execute their trades based on those positions.

    Naturally, you wouldn’t just short a stock if you didn’t know something about what factors were to lead to a sharp/large drop in the share price.

    But getting this right is often an exercise that straddles a fine line between being well-informed and intuitive and blatant insider trading.

    The bigger picture

    So, in summary, shareholding generally occurs when you acquire a stake in a business. You can own intellectual capital, founding rights, or be s a funder/seed investor to help start the business.

    So why do companies issue out shares to the public again you might still ask?

    Think of share listing as a way for your company to hold itself publicly accountable. is the ultimate branding weaponry in its arsenal and quest to exponentially increase its profits.

  • Piggybacking on company success

    Piggybacking on company success

    After having several conversations which clearly highlight the fact that the business of share trading and its intricacies still create a dark cloud to many, and an unnecessary element of sophistication at that, it is only fair to (in true debunqed.com fashion) take a step back, delve in and break it down by discussing not just the way to trade – but the whole point of it. It can seem like something only smart people engage in. This is, however, not the case.

    The first thing to understand is that shares (referred to in the US as stocks) entitle the holder to have part ownership in a company. So, if you own a share in, Amazon, Deutsche Bank, Coca-Cola, Manchester United or a Cryptocurrency company like Ripple – you OWN a part of the company. You are basically co-owning with other stakeholders of the company with the hopes that the people who run it will increase the monetary value of your shareholding by making the company a success.

    Now your share/ownership will determine what level of control (decision-making powers) you have when it comes to the company’s operations. Naturally, owning just 10 or even 1000 shares of Amazon (which cost around a hefty $1400 each today), still does not entitle the owner to have a say in how it is run. The majority shareholder – which would probably be the company owner (chairman/founder) or its board of directors, depending on how the company is structured, will still have the overall say.

    To gain a majority shareholding and therefore full control of a company, the minimum number of shares one would need would be 51% of the total issued…good luck obtaining that many!

    But let’s take a further step back and unravel why shares are issued in the first place. A company has a value and within that context will always keep tags on the capitalistic market and carefully monitors its value to brace for a potential takeover or a consideration to sell.

    So, to get listed on a stock exchange a company will decide how much of its equity to publically issue as shares and might even use it to raise more capital to help grow the business.

    This form of equity will be backed against its total assets (and its debts) on its balance sheet. So hypothetically, a company with 100 Euros worth of assets and liabilities has 100 Euros worth of (owners) equity – which basically enables one to determine its worth at a given point in time.

    The easiest way to remember this is through this basic accountant’s formula:

    Total Owners Equity (OE) = Assets (A) + liabilities (L).

    The shares are accounted for in the OE and are issued in denominations based on various factors to provide an indication of the relative strength (or weakness), or potential growth of the company. The (snapshot) total value of the company is thus determined by its share price plus number issued and referred to as its market capitalization. There are several other measures and tools to evaluate the general health of a company.

    Rising shares, though always good will not always necessarily mean the company is great value for money as share prices can also be under- or overvalued. Shares for large companies are naturally offered in millions and via an initial public offering (IPO) from as little as one cent or more (depending on its valuation upon listing on the market) and rise to what was quoted for Amazon earlier – which along with the price of certain commodities are one of the highest per share currently available in the open market.

    The open market of local bourse is where shares can be bought and sold at specific times depending on side of the world it is located – just like in a traditional marketplace.

    Obtaining shares may come with an additional cost (brokerage fees, commission, interest payments in cases of leverage buying etc.) depending on the terms and conditions of the market but more specifically, on the company or broker offering access to the shares.

    39373_160x600

    A good company share will also offer its holders in return an annual dividend – which is basically a share of the company’s profits over and above the share price. So, it is a good idea to include dividend-yielding shares in your trading portfolio if you can afford them.

    Once you purchase your stake in the company, you will naturally, even if you don’t have a controlling say in how the company is operated, take a keen interest in the company’s activities as everything it does within its operations or outside ops for that matter will have an impact on its valuation, and therefore, the price of the share you own.

    Naturally, investors follow the age-long rule of common sense and buy when the price is low. If you missed the IPO and dip in, the price is always a good time to even top-up for the long and eventual rise.

    “Unless a company goes belly-up, a share-stock price that is going down is actually going up – in the long run.”

    But the price as we know does not always go up and one must be prepared to weather such storms by not continuously focusing on the shares once you have done your due-diligence and purchased for the long haul. Playing blissful ignorance is the best advice you will get as one can become emotionally attached to the performance of the shares and have it affect your mood.

    There are also a lot of trading tools to help prevent a total meltdown if the company folds-up due to external factors such as fraudulent scandals or government intervention – so keeping tags now and then is still required. The recent events and scandal faced by Facebook saw it lose a significant amount (billions of dollars within weeks) in it the value of its share price.

    Read more about investing here.

    There are also ways to “have ones’ bread buttered both ways” and this is where the concept of short-selling comes in. So, while we all would bet on a company’s stock to go up – there are groups of investors who bet the other way with the hopes that the price will rather drop.

    This seemingly dubious form of trading is perfectly legit and comes, naturally, with a higher level of risk – that is if the price increases in favour of all ‘normal’ long-term investors – the short starts to lose money and will even have to fork out more for the amount borrowed to make the short-sell in the first place – not for the inexperienced and ill-informed!

    So, you “buy” or rather borrow (with leverage) the future value of the share/stock price usually at its apparent peak (or bubble bursting price level) and hope that it will drop for you to profit from the bet by as much as it continues to drop. Earlier in the year, one such investor dubbed “50 Cent” bagged 200-million-dollars in a major shorting maneuver.

    Shorting a stock is a complex, risky but highly lucrative method of balancing out a portfolio. A seasoned trader will, therefore, have several positions including some “buy” and “sell” positions on their shares for long and short terms with the various mechanisms set in place to execute their trades based on those positions.

    One wouldn’t just short a stock if one didn’t know something about what was to come or what factors were to lead to a sharp and large drop in the share price. But getting this right is often an exercise that straddles a fine line between being well-informed and intuitive and blatant insider trading.

    So, in summary, shareholding happens naturally when you acquire a stake in a business through ownership of its intellectual capital, founding rights, or status as a funder or initial investor to help start the business.

    So why do companies issue out shares to the public again you might still ask… think of share listing as a way for a company to hold itself publicly accountable and thus is the ultimate branding weaponry in its arsenal and quest to exponentially increase its profits.

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