Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

Wednesday, June 05, 2024

Oya, do something 😜




music: 
Do Something, by Koker
and
Bottom Belle, by Omawumi
💌OPEN

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Tuesday, February 07, 2023

It's Febuhari hahahaha #notreally

















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Sunday, October 03, 2021

do the work-life thing the way you wanna

A READING LIST 


2. “More artists are succeeding in the streaming economy...”

3. African FOODS, Cuisines, Delicacies, and Recipes 

4. Professionals: see the best-paid careers in Nigeria 





Nigerians, do you miss Twitter?


Section on Multitasking and Grindmaxxing - Turn down for what now?  

Musical project: We Got Love (Love Is The New Money)
with Teyana Taylor, Kanye West, Ms Lauryn Hill, ...



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Thursday, July 01, 2021

half-year don koja, we still dey carry go... #Quizzes #ThisLife #MoneyLife #CareerPlan #Business #CashFlow


Aside: Remember this song? Four Years, by Styl Plus






JOKES! 

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Monday, October 21, 2019

Comment on this guy

Techlead is an Ex-Google Ex-Facebook Ex-husband multi-millionaire living in Silicon Valley. 

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Tuesday, January 09, 2018

Megachurches - Pros and Cons

Reading list:

Eat, pray, live: the Lagos megachurches building their very own cities ... 


Nigeria's 'megachurches': a hidden pillar of Africa's top economy 


Nigerian pastors 'living like celebrities' in London | TheCable



Related:

List of pastors in Nigeria - Wikipedia


Gallery of web-famous Nigerian pastors

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If you like words, Pros and Cons are not just the positives and negatives of the matter, they could also refer to professionals vs. confidence artists.  :)

Monday, January 16, 2017

An agenda for better wealth



Davos is this week, and the agenda is exciting:

What will the assembled agree to do about crippling inequality?  I am very eager to see.

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Wednesday, October 26, 2016

I'm black and I'm a member of the 1%


In the U.S. today, the average African-American household owns just 6
cents for every $1 of wealth held by the typical white household, and
blacks make up just 1.7% of the top 1% of wealthy Americans. But there
are black members of the 1% who are working to change that. 


In this short feature, CNN's Tanzina Vega
investigates the historical and contemporary racial barriers to wealth
creation in the U.S.




If you love this, spare the time to also watch Born Rich

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Tuesday, May 31, 2016

Earning and Ego in the African family

Long time ago in a galaxy far, far, away...
Not really :)
Men hunted, gathered, warred, and brought home an alien sliced and salted bit of pig meat called bacon.
Women cooked this thing, cleaned house meticulously, supported man unflinchingly, all the while dressed neatly and attractively in mellow yellow shirt and single-row of pearls.
Everyone lived happily ever after.
https://www.google.com/search?q=bringing+home+the+bacon&client=firefox-b-ab&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjh96qDtoTNAhWDAsAKHbKkDOgQsAQIOw&biw=1366&bih=667
Nowadays, we have a new fable: 
Women march off to work and often win a delightful prize called bread, which many in these parts would rather have than bacon.
https://www.pinterest.com/mothersmilkcoop/breastfeeding-funnies/
As before, men are free to hunt, gather, war, and bring home various cuts of meat, bearing in mind that physicians say fish and lean beef, as part of a low-fat, low sodium diet, are better for overall health.
 Now,
winning great quantities of bread is a good thing UNLESS this winner is a married woman.  Marriage interacts with earning in such a way that everybody does not live happily ever after.
http://msb.georgetown.edu/newsroom/news/who-should-bring-home-bacon-professor-tinsley-tackles-attitudes-women-workforce
Homie, we still cool? . . .  No, we are definitely not cool.

But why?
And what can be done?
Read this:   
http://thenakedconvos.com/6-things-happen-female-breadwinner-nigerian-home/
Join the conversation at nakedconvos.com

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Wednesday, May 25, 2016

Change

https://www.google.com/search?q=naira+rate+2016+cbn&client=firefox-b-ab&source=univ&tbm=nws&tbo=u&sa=X&ved=0ahUKEwid6tTIw_TMAhUoJ8AKHesfDKUQsQQILQ&biw=1366&bih=667
 Flexible exchange rate regime announced by the Central Bank of Nigeria.  Current rates?  Still, the CBN "would retain a special window to fund critical transactions in foreign exchange, which would likely attract a concessionary rate."  Good luck. 

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Monday, May 11, 2015

Yet another tantalizing critique of Piketty's book

The English-language mondediplo.com site of Le Monde Diplomatique has Why Piketty isn't Marx. Well, of course I clicked and was rewarded with these gems of economics, scholarship, and criticism:
1.
We should not ignore the book’s merits. Every commentator must be impressed by the scale and quality of Piketty’s statistical work. But its principal virtue lies in the fact that it is a book. Most economists, driven by the need to publish, have unlearned the skill of writing books. Instead, they produce technical papers (not longer than the 15 pages allowed by academic journals) so standardised that they lose all meaning. Capital in the Twenty-First Century is the thousand-page culmination of 15 years of dedicated toil. The usefulness of social sciences is never so clear as when they contribute to the political debate with solidly established facts.
But all the methodological rigour in the world will not make up for the most basic deception, so obvious that it has passed unnoticed: the title. Piketty tells us he is going to discuss capital. He is aware that a well-known author has written a book about it before him. He seems to think “I can get away with this”. Unfortunately, it does matter: it’s fine to call a new book Critique of Pure Reason provided you are not writing about, say, herbal medicine.
Just what is capital? Piketty, not having really read Das Kapital, is only able to give a very superficial definition: the wealth of the wealthy. To Marx, capital was something else entirely, a mode of production, a complex social relationship which, crucially, adds employment relationships to the monetary relationships of simple market economies. These are based on private ownership of the means of production and on the legal myth of the “free worker”, who is deprived of any means of making a living independently and therefore forced to hire himself out to survive, and to submit to domination by an employer.
... That is what capital is, not just the Fortune 500. In the narrow sense of wealth, capital affects ordinary people through the obscene spectacle of wealth inequality. But as a mode of production and a social relationship, it affects them far more through the slavery it creates — an eight-hour working day takes up half their waking day. Redundant workers probably suffer less from seeing the rich parade their wealth than from the way their lives have been wrecked by the iron law of financial valuation. The same goes for those in work, who suffer under the tyrannical demands of productivity and profitability, constant threats of mass layoffs, delocalisation, restructuring — the energy-sapping precariousness and brutal nature of employment. None of this is even mentioned in the book.
The form and intensity of this slavery are determined by the historical circumstances under which capitalism is manifested — for in practice, there are many different kinds of capitalism. And it is the inseparably linked, changing economic and political factors that continually steer capitalism in new directions. But Piketty is quite unable to see things in a light that would show up the specifically political factors in the history of capitalism.

2. 
Piketty may repeat over his thousand pages that inequality increases when r(rate of return on capital) is greater than g (growth rate), but he has explained nothing because he doesn’t describe the factors that determine rates of return and growth in each era. These depend on the organisation of structures in the particular era, the result of political struggles — of class struggles.
3.
He is ill-equipped to tell the story.  Nothing in his career has prepared him for it: he cannot go overnight from a social-democratic, organic economist to being the Marx of the 21st century.
[La République des Idées, RI, for instance,]... has consistently taken great care never to raise any indecorous issues... talked about inequality for many years, weeping over the sufferings of the workers, but has blamed rapid technological innovation and lack of training, and praised the virtues of academic research. What about free trade and the devastation it brings? Or the tyranny of shareholder value? Or the EU, now in the final stages of neoliberalism? Not a word. RI thinks all these are our destiny. It has a strategy of evasion — and sleight of hand. Those who claim to be serious and are keen to maintain their influence and their reputation in the media never mention such things.
...
 Finance has been globalised and nobody had taken any notice, but it is now clear that everything is not rosy. The economist Daniel Cohen, like Piketty, after decades of silence on this, has suddenly realised that the design of the EU’s monetary union was “faulty from the start”... Their belated rectifications will have very little effect. Long-term intellectual and political habits are hard to overcome. Capital is riddled with them; Piketty skips over the political and social history that
...
The logical consequence of the strategy of evasion is that taxation becomes the only remaining tool available. Giving up on trying to change structures means taking palliative measures. Taxation has never been anything more than a social-democratic palliative — if we can’t tackle the causes, let’s at least try to alleviate the effects. Piketty, torn between the immediate problem and his desire not to disrupt anything fundamental, would like taxation to have greater virtues than it does, even the ability to regulate international finance. It’s hard to see what kind of tax could substitute for the necessary major assault on the structures of liberalised finance. What tax could replace bank separation, closure of some markets, a ban on securitisation?

4.
Piketty provides a scientific consecration, not only of the public perception that monetary inequality exists, but also of the theme around which the discussion of capitalism will revolve — around which it already revolves: even The Economist has had years of articles on monetary inequality, which will be the weakest link in the diagnosis, the point where the most inoffensive critiques converge. Monetary inequality has a great virtue: it makes it possible to avoid talking about the other inequalities created by capitalism, which are not accidental, but fundamental and constituent — the political inequalities in the true sense of hierarchical subservience in employment; that in business, some give orders and others must follow them. No tax, not even a global tax, will ever be able to address this.
To ask questions about this inequality, which is ultimately about the way lucrative property (capital), controls our lives, and of the pressure to be employed, is to ask the key question that the real Marx asks about capital. Or anyway the key question about capitalism’s current configuration, which a global financial tax (that will never happen) could do nothing about. Only a resumption of the struggle for popular sovereignty, by a single nation, or several nations together, according to political circumstances, would be able to do anything — by changing, through the transformation of structures, the balance of power that allows capital to hold society to ransom.
Piketty’s critique of wealth inequality touches on none of this. 
Isn't it funny how I've studied all these essays with pleasure and I still haven't read the book in question (Capital in the Twenty-First Century) yet.  I have, I should mention, studied Marx's Capital (usually known as Das Kapital) at least once.  I do not endorse every idea that I re-publish here, but I do endorse rigorous debate and critique.  To what extent does economics/business not know what the hell it's doing?  Do we even care?  (The usual answer is of course not.)  I think it is interesting too that this money blog (UpNaira / Money Talk) is becoming in some ways an anti-money blog, have you noticed?  

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References:
- Quotes 1-4 above taken from "Why Piketty isn't Marx", written by Frédéric Lordon in Le Monde Diplo May 12th 2015 (link)
The introduction/summary: Thomas Piketty’s thousand-page economics bestseller reduces capital to mere wealth — leaving out its political impact on social and economic relationships throughout history.

- Workers, a painting, by Olumide Oresegun

- Flower seller, and other paintings of labour(ers), by Diego Rivera

- What does Capital in the Twenty-First Century, the book, look like? 

Friday, January 16, 2015

Motivation: Leading CEOs, Leading tech billionaires, Leading websites, ...

From this best CEOs of 2014 list :
5. Andrew Wilson, Electronic Arts
What did Wilson do? First and foremost, Wilson spearheaded a corporate culture change centred on being “Player-First”. This translates into a strategy that is more in line with customer expectations by offering more free-to-play games with in-app purchase opportunities.
4. John Martin, Gilead Sciences
...an $84,000 drug will get all sorts of people, and governments, upset about price gouging, 
...but the net-net is ... $8.5bn in sales during its first nine months. 
In a tough business environment, Martin managed to lead Gilead via value-based pricing strategies, successful drug launches and a promising drug pipeline.
3.  Jack Ma, Chairman of Alibaba
...the largest IPO the world has ever seen, raising $25bn in the process. 
...the world’s biggest e-commerce company, generating 2014 sales double that of Amazon and eBay combined
...also on the way to becoming one of the biggest banks in China through its Alipay app.
2. Kevin Plank, Under Armour 
...four straight quarters of more than 30% growth and 18 straight quarters of more than 20% growth.
... just surpassed Adidas, now second only to Nike in the US
1. Elon Musk
Heads two innovative companies: Tesla and SpaceX
Tesla electric-cars are more and more popular, while SpaceX cut down the price of satellite launches to $100m, got a $2.6bn contract from NASA to carry US astronauts to and from orbit, after demonstrating several successful missions in 2014

Which sites were popular in 2014?
http://news.bbc.co.uk/2/hi/technology/8562801.stm
Click to see the top 100 websites

Also from the BBC, how many internet billionaires are there?  More than 20 are profiled here.
http://news.bbc.co.uk/2/hi/technology/8562379.stm

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Friday, November 28, 2014

Six Questions with musician Le'mmon

Le'mmon may be (just) under-30 but he is already an accomplished vocalist, songwriter, and producer.  With his silky smooth voice, fun-but-mature themes, and classic R&B aesthetic, this Nigeria-based musical artiste may just become one of your favourite.
https://twitter.com/lemmonchukwu
Twitter: @lemmonchukwu
A brief history of Le'mmon: A true Lagosian, born to an Igbo father and Yoruba mother.  Real name Vincent Osuagwu.  A former church boy, was in the choir at eight.  Won Most Creative Student In Art award in school.  Le'mmon is notable for stubbornly producing different flavours of Rhythm and Blues music throughout the 21st century.  He will make you listen! 
Listen to Vintage Le'mmon.  I love That's All.
Q1: If you couldn't be a musician...
I would still be in the art world. Fine arts.  Or maybe military.

Q2: Best and worst things about your job?
Imagine a world without music!  The best thing is that my work touches people's lives everyday.
Also, music is a profession, so personal growth and career satisfaction are the other best things about my job.
Live at the Civic Center
The worst thing, however, is that in Nigeria there isn't enough support - opportunities, mentoring, management, and resources - for talented artistes.  Nobody wants to build from scratch with a talented nobody... It's different overseas.
Also, instead of perceiving a newcomer as a source of inspiration and fresh ideas, most established and successful artistes who ought to help these newcomers see them as a threat and in turn refuse any call for help.
Past EP projects: Rejected By All, Heart On Paper, and more. I have two dozen Le'mmon tracks and keep discovering more.

Q3: Studio Rat or Stage Bunny?  Lol.
 I consider myself more of a studio rat because it's a world that knows no limit in terms of creativity and production especially in this part of the world where we don't have the best technology for stage/analog production.
Q4: Tell us about the album...
 I have no album for now but I'm putting out a mixtape titled #10,000hours in early or mid 2015 which is a compilation of carefully selected songs showing my prowess as a songwriter, producer and a sound engineer from the start to the present.
Coming soon: #10000HOURS

Q5: Your top 5 artistes? 
John Lennon  
because of how he'd make a song so simple with his lyrics and he was a rule breaker and therefore changed music without knowing he was. 
Fela Kuti  
for stamping it hard on musicians especially from Africa and Nigeria  that music knows no language.
Frank Sinatra 
for his timeless voice and "never give up" spirit through his rejected times coming up as a back up vocalist.
2face idibia 
for being a great source of inspiration to Nigerian artiste who celebrate his longevity and ability to move along trend as they change over the years in the industry.
Robin Thicke 
for his strong will to succeed in a pop-dominated music industry that saw him work hard for 17yrs before he got his big break with the hit song "lost without you"

Q6: Three rules you live by? 
Mom, Music, Money and in that order too..it's self explanatory..those are the things I devote my heart to and love as I grow as a person...They keep me grounded...
http://notjustok.com/2013/09/11/lemmon-heart-on-paper-ep-download/
Listen to Le'mmon Heart On Paper
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Monday, July 28, 2014

"But the German way with money is to keep it quiet"

"It is not the kind of place then to approve of young millionaires roaring around in expensive cars - they may make the Porsches and the BMWs but it's for others to rev them up and show off."

"In the US and Britain, business people are part of public life. Warren Buffett gives press conferences. Bill Gates tours the world, banging the drum for measures to prevent disease. Every American city has a museum or a medical research centre or a university department named after a local moneybags."

In Nigeria, ... , never mind.

Enjoy Germany's super-shy super-rich, by Stephen Evans, for BBC News. 
This article is my source for the quotes above, and is reprinted below.

Karl Albrecht and the shop in Essen started by his mother
Karl Albrecht and the shop that began the Aldi empire
Nobody could accuse the richest people in Germany of flaunting their wealth, quite the opposite.

With the death of Karl Albrecht, there was no announcement for nearly a week, and not until the small, private funeral was over. He and his brother, Theo, had turned their mother's small grocery store in the Ruhr into Aldi, one of the world's biggest supermarket chains, but the habits and thoughts of this mega-business mogul were unknown.  For the obituaries the German papers could only trace bland statements he had made in 1953 and 1971.
This was not a chatty public figure.
He grew orchids, apparently, and played golf - but on his own, private golf course. In the absence of a public presence, a legend grew around him.
The brothers, ex-employees said, would keep accounts using stubs of old pencils, almost too short to hold. It is said that they once told architects designing a new store that they were using paper that was too thick.  

It was this frugality which set the Albrecht brothers on the road to super-rich status.
Interior of the original Albrecht family shop
The Aldi chain began after Theo and Karl Albrecht took over their mother's grocery shop in the Ruhr
After the war, they took over the grocery store and set up a company called Aldi after Albrecht Diskont.  They pared the costs to the bone, dispensing with advertising and relying on the reputation for low prices. They sold what sold quickly, only 300 items initially.  Even shelves were thought to be too extravagant - after all shelves had to be stacked and that meant stackers and that meant wages. Instead, the goods were deposited, in the stores on the pallets on which they arrived.
Even today, Aldi stores usually offer no more than 2,000 products compared with the 45,000 products for other chains.
Food tended to be in tins because fresh food cost money to store. Managers had no telephones - they were told to use the nearest pay phone.

When Theo was kidnapped in 1971, Karl negotiated - over some days, according to the German media - and then paid the ransom which, legend has it, he tried to offset against tax. 

If Karl Albrecht was reclusive, the head of the rival Lidl chain is positively invisible.
There are only two photographs in existence of Dieter Schwarz, and one of those is in black-and-white. He may be the 25th richest man on the planet but nobody outside his closest circle knows anything about what he thinks or does. 

It is the same with the Quandt family which owns BMW. The product may be a symbol of conspicuous consumption but they are a symbol of inconspicuous taciturnity.
Take the case of Susanne Klatten, the daughter of the industrialist Herbert Quandt, the man who made BMW the luxury-car colossus it is today. She was left 12.5 % of BMW.
With her other business interests, she is the 44th richest person in the world, but a woman with a low profile. When she started in business, learning at the bottom, as an apprentice, she worked at a BMW factory under a false name.
The man she married never knew her real identity until the romance was solid.
Susanne Klatten
Susanne Klatten is Germany's richest woman
It would be tempting to draw big conclusions about the reticence of Germany's super-rich. 
 
In the US and Britain, business people are part of public life. Warren Buffett gives press conferences. Bill Gates tours the world, banging the drum for measures to prevent disease. Every American city has a museum or a medical research centre or a university department named after a local moneybags. 

But the German way with money is to keep it quiet.

It is partly because frugality is a virtue, a matter of morality and not just of wise behaviour. And maybe, after the experience of Theo Albrecht, privacy means you're less likely to get kidnapped.
It is not the kind of place then to approve of young millionaires roaring around in expensive cars - they may make the Porsches and the BMWs but it's for others to rev them up and show off.

The figures show that private wealth in Germany is more unevenly distributed than in any other country in the eurozone. While the richest 1% have personal wealth of just short of one million euros on average, a quarter of adult Germans have no wealth or even owe money.
But because those with the money keep their heads down, it doesn't always show.

Previously on UpNaira

 

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