Alibaba and its Chaalis (40) choices in Pakistan | 阿里巴巴及其在巴基斯坦的40個選擇

These days its seems like not a day goes by and some one or the other publishes a picture, a leaked story, an input a whisper about Alibaba talking to some one in the country. That in it self is fantastic and super exciting. The choices for Ali Baba are literally unlimited in what they do and I have no magic ball to foretell the future. But the implications for Pakistan will either be really good or really bad.

Lets list the public rumors in place over the past week or so.

  1. Alibabas Ant Financial services to acquire stake in Telenor Bank in Pakistan.
  2. TCS putting out pictures of Alibabas visits to Pakistan
  3. Daraz not being far behind saying again some one is buying them, this has been on going since a few months after they came in to being

 

Lets evaluate the Telenor news first, minus the percentage stakes being discussed at this stage that’s immaterial to any one unless you are a shareholder, given you are not, lets focus away from the noise.

 

So if Alibaba does buy out the stake say at 40%, what happens? Look at the shareholding structure above. Whilst the news it self will be great for Pakistan(consumer confidence etc). Just my sense is, the monies wont land here post acquisition the B.V/Dutch Hold Co will probably partake in that transaction. The company is setup for tax optimization and there is nothing wrong with that either, all businesses are setup to maximize shareholder value, there should be no apology expected from Telenor for watching out for their shareholder interest.

So all this celebration of Ant Financial coming to town, could be misguided, as it may not really have any short term benefit unless the government mandates domestic injection, then it’s a different story, given our Chinese friendship that should be a baseline ask. I neither know any info nor do I want to speculate, I am analyzing the data and facts available in the public domain.

What no one is talking about what Alibaba’s entry to Pakistan will mean for digital marketing and advertising and the potential blow it will deal to OLX, Daraz,  Classifieds online and offline and Ad-Networks like FB Audience Network and Google ADX.

You are probably wondering what the sale of shares in a Microfinance Bank has to do with advertising? You cant be blamed for wondering, its simple, some thing you have never heard of, but it is a rising tiger in the world of advertising to rival Google and FB, Its called Alimama .

Launched in November 2007, Alimama (www.alimama.com) is an online marketing technology platform that offers sellers on Alibaba Group’s marketplaces online marketing services. Now that is the real Crouching Tiger, Hidden Dragon that will come to town when/if Alibaba comes here.

Coming back to our friends at Google and FB, they don’t have an office here, they don’t have a presence, the bulk of their advertising revenue are generated through product advertising, FMCGS, CPGS, Brands, Product Pushers. The success of FB viz a vi the advertising agencies they work with, is lukewarm at best, both companies have struggled to keep the conversations ongoing with counterparts in the country. Google has been more serious with boots on the ground, FB is still enjoying the consumer play of people using credit cards to buy ads.

But where is the real commitment to operate in Pakistan a market of over 200M consumers? Perhaps we shouldn’t blame them, has any one from Government really gone to FB beyond data requests and to Google beyond resetting passwords for accounts and offered them a real stake on the ground in the country from location to access to talent to tax breaks to legal protection? If not then we will continue to wait for them to show up at our door step where as other markets that welcome them will prosper.

Look at this example from Amazon,  shopping for a city to bid for amazon to come to it to build a second head quarter. That’s what government commitment is and should be if you want to attract the best.

Given what Google has done in healthcare alone, for a country like Pakistan where Chikungunya and others abound our government should be bending over backwards to invite Verily to de-bug our cities and towns if  it is not interested in the digital play, the human life play should matter.

Lets look at what will happen, when Alibaba in any form comes to Pakistan, they aren’t going to just sit idle and away from the Marketplace business which is their core. When that comes, so will Alimama, that will wipe off the entire value from product listings and classifieds businesses and thus wipe major value of AD Exchanges but wait, there is more, none of this will happen tomorrow. Some specialized verticals may continue to operate but it will be only a matter of time till they also become irrelevant or be bought out in the process.

Google and FB have to  take notice(More FB than Google). That is a fairly tough ask when Google is rightfully busy in the region with India, their interests aligned with launching payment tech (Tez) and their Next Billion obsession. FB on the other hand lacks even the commitment to operate out of market, they roll up from SG to UAE, where the hummus isn’t playing the unifier role it should between the German-Venezuelan + Pakistani mix . The UAE based leadership team responsible for PK has probably come here less than a dozen times. Credit where its due, Google guys are practically here every other week.

If FB , had they not put partnership folks and not just hired entry level talent from this country, would eat away at least 30% of other Ad Networks existing business and probably increase their pie by an other 80%, all they had to do was pay attention, there is still time if the interest level changes. Data is great, but context is the killer, it feels strange to be preaching context to Facebook.

Even beyond FB , WhatsApp related growth could potentially outpace all other business related growth in the months and years to come, no less for that you need to come to Pakistan beyond conferences and meet real businesses and hire customer advocates that have some real experience beyond trips to incubators, it has no real material output for Pakistanis beyond photo ops. Its time for the industry to grow up. Besides pretend to be grown up and promoting  self recognition.

Google is in a far better position, but I fear all their market education that had the best of intent will be ridden out by Alibaba in weeks, months and years to come. Their(Google’s) teams have really done a stellar job to educate the market. Fb is trying hard, they had a better value proposition, its easier to market on FB. Every one uses FB no new account is needed to market, any kid can do it all you need is a credit card ( what happens when the central bank decides that it is no longer cool to loose out 45m$ in FX via card or third party transaction. Invoicing becomes key.) Hence the conversation is much easier from FBs perspective with marketers; the results on the other hand are debatable as are the conversions.

The market is missing a unified sales platform and payments, when both of those arrive, any guesses as to what will happen?

This brings me to TCS/YAYVO, from a Pakistani standpoint that deal makes the most sense for the exchequer, but from a value perspective Alibaba gets more out of buying TCS for logistics and fulfillment than it does to buy Yayvo for e-commerce. (Even if it paid 3/4x Revenues it would be a sweetheart deal)

Neither the TCS Ecommerce brand nor the way the operations are structured offer any thing that 2M$ cant replicate in 6 months. That is all it takes. TCS should be courting Alibaba to offload equity in the overall entity, e-commerce is some thing they should throw in for free. Make no mistake, Alibaba is already Pakistan’s largest e-commerce player by volume, you ask how? AliExpress.

Once FTA between China and Pakistan is sorted out, none of these brands will matter every one already knows Aliexpress, at least they get their products on time. The logistics game is a serious deal, check this out Amazon building an airline/Distro hub.

In the mean while if Alibaba wants to buy some thing to just try out and experiment, its not a bad deal to get Yayvo too. But by way of technology and talent, there is no real value to be driven from Alibaba’s perspective in buying Yayvo. Every other week, some Investment banker, market broker or some one is pitching the Yayvo deal, that is an indicator that they have run out of growth capital. Any plans of grandeur they may have had are actually on hold from the looks of things. Their SKU base is stagnant. Their systems are a mis mash, the sites performance are basic at best. So this is not going to be a tech buy for Alibaba an accu-hire for mid level talent yes for sure.

Which brings us to Daraz, perhaps Alibaba should do real due diligence there. Its simple, buy 5 products a day for a month and deliver to 5 cities a day, figure out the fulfillment ratios vs order placement and go from there. In developing markets that a better test than looking at a PowerPoint deck prepared by some one else.

Daraz will be a multi country Rocket Internet deal involving Alibaba so where-in other markets Rocket may have inherent business or operations value, in Pakistan : besides burning cash on brand building, iffy customer experiences, multiple management team exits and struggling market place/drop shipper experiments they have been consistently underwhelming consumers.

A cursory glance at  FB posts or comments on paid adverts in local publications will tell part of the story. Its not easy being the first here. Just cant blame them alone, they have done more for market making than any one locally has. User sentiment abound. I am sure some one as sophisticated as Alibaba would try to get a discount on the offer given the customer toxicity. No one does “one day sales” better than Alibaba and its singles day, just apply that metric to compute GMV and if all holds true, perhaps Daraz really has value beyond what meets the eye.

Daraz is a foreign owned venture, if Alibaba does acquire Daraz / or its parent co, that money wont see the light of day in Pakistan. Again not a great deal for Pakistan or Pakistanis, the value of the transaction will unlock offshore most likely. Long term e-commerce will come, but short term No cigar.

All these factors to one side, a real funded player in any one of these 3 domains comes to town, it will be good news long term. So heres to hoping that we at least get a true payments play first, every thing else will find its way on its own once that happens.

 

 

 

 

 

 

 

 

The Nuts and Bolts of Digital Innovation & Transformation | Part Science, Part Art & Part Fiction.

This article has been updated with the PPT used at the 021Disrupt Conference on Sat Nov4th 2017.Disrupt-Faizan Siddiqi

Digital Innovation is not easy, actually its more difficult than transformation. Because Innovation is real touchy feely stuff, transformation at its core is the vernacular of the C suite chaps who like LBOs of the 80 and CDOs of 90s invented stuff that the average person couldn’t really understand. We all fell for it, but how many of us really understand at its core what it means?

Lets try to deconstruct why Innovation is so hard “Being active in youth may change the inner workings of brain cells much later in life and sharpen some types of thinking, according to a remarkable new neurological study involving rats.​” So for the new experiment, which was published this month in eNeuro, researchers at the University of Toronto and other institutions basically distilled it down to the following premise: Moving When Young May Strengthen the Adult Brain.

If you look at it rationally organizations are looking for younger folks(generally) to run and head Digital Innovation and Transformation initiatives because at some cellular level being in their 40-50s/60s they realize that as they cope with their cognitive issues at large its best to farm this work out to some one from the right generation. They are not very wrong in this assumption but they arrived at it because they them selves cant do it and its easier to appoint a person, a function a role to take the fall when their organizations falter at the seams as they fight off the startups eating away at their margins. I understand this is a very large scale generalization but it is backed up by what we see at corporations large and small. Find me a Chief Innovation Officer in their 50s.

Until you understand the principles behind innovation, you’re going to fall short. There is no innovation “formula” that magically works for every company. Don’t settle for fad management tactics or blanket solutions that lack nuance. There is no innovation “formula” that magically works for every situation. As a baseline your need to gain a deep understanding of principles, frameworks and skills that help you see the world differently. When you learn to see the world differently, you begin to think creatively.

Given the information overload and information paralysis we go through every day, we are victims to filter bubbles.

WTF are Filter Bubbles, let me demonstrate. Imagine your average day. What do you do?You read the headlines, tap, scroll, tap, tap, scroll.It is a typical day and you are browsing your usual news site. The New Yorker, BuzzFeed, The New York Times, take your pick. As you skim through articles, you share the best ones with like-minded friends and followers. Perhaps you add a comment. Few of us sit down and decide to inform ourselves on a particular topic.For the most part, we pick up our smartphones or open a new tab, scroll through a favored site and click on whatever looks interesting.Or we look at Facebook or Twitter feeds to see what people are sharing.Chances are high that we are not doing this intending to become educated on a certain topic.

No, we are probably waiting in line, reading on the bus or at the gym, procrastinating, or grappling with insomnia, looking for some form of entertainment.

We all do this skimming and sharing and clicking, and it seems so innocent.But many of us are uninformed about or uninterested in the forces affecting what we see online and how content affects us in return.That ignorance has consequences.

The term “filter bubble” refers to the results of the algorithms that dictate what we encounter online. So how can you innovate when all you are doing is consuming stuff and re hashing it. There is no net new creativity. Most days.

Much of the content we consume, the cord cutting shows we watch, the papers we read offer personalized content selections, based on our browsing history, age, gender, location, and other data.We become the subject as opposed to becoming the subject matter expert and we fully understand that we cant innovate till we at least have some grounding as an expert in a discipline, that grounding doesn’t come only via having a Phd or classical training in a field it comes with interactions and the ability to think within the constructs of the issue at hand with a view to find a solution.

In the absence of which and by being digital consumers alone, the result is a flood of articles and posts that support our current opinions and perspectives to ensure that we enjoy what we see. We program our selves to enjoy the mundane. Even when a site is not offering specifically targeted content, we all tend to follow people whose views align with ours.When those people share a piece of content, we can be sure it will be something we are also interested in. Take this blog post for example.

That might not sound so bad, but filter bubbles create echo chambers. We assume that everyone thinks like us, and we forget that other perspectives exist, which is a cardinal sin when you are tasked with innovating.

Filter bubbles transcend web surfing. In important ways, your social circle is a filter bubble; so is your neighborhood. If you’re living in a gated community, for example, you might think that reality is only BMWs, Teslas, and Mercedes and kids going to private prep schools because that will make them scions of industry and get other perks in life.

Your work circle acts as a filter bubble too, depending on whom you know and at what level you operate at.

One of the great problems with filters is our human tendency to think that what we see is all there is, without realizing that what we see is being filtered. There in lies the core issue around why most of us suck at innovating and why we are whole heartedly engaged in hero worship or having our ideas and thoughts being shaped by the bias in every thing around us. Let me demonstrate, watch the following:

If you watched this you have a very real sense of why filter bubbles are the crux of the problem of innovation.

Filter bubbles can cause cognitive biases and shortcuts to manifest, amplifying their negative impact on our ability to think in a logical and critical manner. A combination of social proof, availability bias, confirmation bias, and bias from disliking/liking is prevalent.

We have an inherent desire to be around those who are like us and reinforce our worldview.  People form tribes based on interests, location, employment, affiliation, and other details.  Within groups (even if members never meet each other), beliefs intensify. Anyone who disagrees may be ousted from the community. Sociologists frame this as “communal reinforcement” and stress that the ideas perpetuated can have no relation to reality or empirical evidence.

Thats why when you join an organization that wants you to lead their innovation function and or digital transformation, the organizational bias that exists actually sets you up for failure. Only when the Leadership allows you to be free spirited can this be counteracted but in most cases and on most days that is not the case, hence the best of intentions to hire a hipster to innovate fails. The sum of the organizations attitudes make sure that 9/10 times that is the case.

Organizational Systems — be they people, cultures, or work groups, to name a few examples — naturally have to filter information and thus they reduce options. Sometimes people make decisions, sometimes corporate cultures make them, and increasingly algorithms make them. As the speed of information flowing through these systems increases, filters will play an even more important role.

You have to be able to see past them to really innovate. If you innovate at a steady state your transformation journey becomes easier, so my take is, without innovation digital transformation is just a fad that will have no new results when you try to solve old problems without innovating first.

Making time for deep reflection in your daily life in incredibly valuable. Do not miss an opportunity /any opportunity to simplify, clarify and get back to the essence of what it means to innovate.

I firmly believe that understanding without experience is worthless. Unless you are immersed in activities that allow you to discuss, execute workshops and practice newfound skills, rather than regurgitate them. You wont be able to innovate.

There is a  truckload of bullshit in organizational truths,  When I say [BS], I mean arguments, data, publications, or even the official policies of  organizations that give every impression of being perfectly reasonable of being well-supported by the highest quality of evidence, and so forth but which don’t hold up if you look beyond the surface.

Bullshit  has the veneer of truth-like plausibility. It looks good. It sounds right. But when you get right down to it, it stinks. So you gotta watch out for organizational BS. Before you can think at scale you cant innovate, till you can innovate you cant transform and till you cant transform you will be at the same place you started besides the fact that you’d have put on a fresh coat of lipstick on the pig.

As the programmer Alberto Brandolini is reputed to have said: “The amount of energy necessary to refute bullshit is an order of magnitude bigger than to produce it.” So even if your heart is in the right place at your organization and you are having to refute the old way of doing some thing before you can really innovate, most of your energy will be spent on refuting past truths. But there in lies the art part of my title, you must know the art of making sure you are not refuting all the time but that you have a balancing act. The fiction part is the story you must tell of a future, that by virtue of transformation will yield better results, so you have to have a truth well told. The science part is that once you get it right every one will start to believe that you have a method to the madness, hence it becomes as irrefutable as science , data and facts, because growing up we were all led to believe that most scientific truths hold true till proven other wise.

Understanding that what we see is not all there is will help us realize that we’re living in a distorted world and remind us to take off the glasses. Trust me, you need those glasses off to innovate and to transform, be it digital or other wise.

 

Disclosure: This article and every thing else on this site draws heavily from my daily filter bubbles and is a social experiment to see how many people have the same bias.

Wireless Carrier – Spammer or Innovator ? Leading from the front.

Oh Telenor I have now relied on you for 5 years why must you ruin my experience by literally spamming me daily? On an ill fated day, 27th Aug, I decided to trade in my 3g sim for a 4g sim and some how Telenor decided it had a right to offer me 100mb daily with a youtube link and then tell me my free quota had expired.

For all the things Telenor has gotten right this is making me rethink my decision.

This is brutal. 5:42 AM Spam. I dont know what tech is messed up but seemingly every time I go in and out of a 4G zone I have to deal with a text message. What is a consumer to do? What the hell is wrong with these companies? Nahin daikhney mujhay apni man passand videos on youtube. Not sitting idle all day to go view on your que especially not at 5am.  Cant fathom what is wrong with these guys. But always ready to market random acts of kindness when they cant even get basic service right.  Even without underwater trouble they seem to be smoking some really good stuff.

This only added insult to injury as over the summer(June 19th) I wanted to get voice mail, a very basic service else where in the civilized world, one which I had used off an on in the past but I called the call center and after a 15 minute activation ordeal I was told we no longer offer this service. But I am not sure, your account rep will call you. He called and asked me to share what measures id taken up to that point. So I responded via text msg as below:

On que, 30 mins later I get a call “Boss, kaisay hain aap, yaar I was told apko voice mail chaye hay” I humored the gentleman as he had taken the liberty of calling back and seemingly wanted to help.

He said he will “inquire” and let me know. True to his word, he calls back and says “Boss, we discontinued the service, magar aap kareen gay kia voice mail ka?”

Fantastic customer support no less:) The guy went from being my account rep to being the average Pakistani phuppo. Why must I defend my desire to use a service.  More so https://www.telenor.com.pk/help-support/faq/voice-mail is still out there albeit void of any info. I am struggling to understand why the disconnect across channels. Perhaps I expect too much. Or perhaps these guys have gotten fat and lazy. Or they are too busy focusing on other initiatives as opposed to basic customer satisfaction.

It didn’t end there, I also realized on a recent visit to a franchise in my desire to get an other number for an IOT device, that once I ran my bio metric, I could not access any other feature/update/sim replacement prior to 8 hours because the Nadra verification had a time lock. So I am standing there dumbstruck being told I need to come back. It was a rare treat for me to be there in the first place the thought of dragging my self back still doesn’t appeal to me.

I am struggling with the back end systems lack of design and untested use case of authenticate once and keeping the session live while the customer is on premise and ensure all their transactions are complete before the authentication key is let go. Who in their right mind would come back in 8 Hours and continue to keep on doing so if you happen to be one of the lucky ones with multiple sims/numbers.

I wonder where the technical innovation is?  why is customer service so difficult? why are the systems untested? I guess like every one else Telenor is caught up in the startup frenzy.  They got lucky with easy paisa and it truly revolutionized an industry. Credit where its due.

The next guy with greater marketing muscle to come in, can and will disrupt even that space. It seems most companies here are one trick ponies, just because they did some thing right once, they have a right to consistently delivery crappy services for life.  With Google payments(supposedly launching) in India this week. It takes one market force of change to destroy the status quo. Cant wait for a real payments company to come out of the domestic talent or to show up with VC money to put all of the telcos in place.

The larger challenge is why every one puts up with shoddy service and how the CEOs of these companies parade their CSR and Best Employer regimens to un suspecting Facebook users. These guys should be made to use their own service with out preferential treatment and go stand in line at a service center to understand the plight of the consumers that fuel their growth.

If these copycat CEOs must borrow a page from a play book, I encourage them to go read this and try to emulate 5% of  what this guy is doing:

http://read.bi/2x32kfT

 

 

 

 

Pakistani banks have nothing to fear when it comes to Fintech!

You read that right, but what you missed was that they are barely mobile and or digital to really fear the paradigm shift that is essentially Fintech.  Fintech wont take down Pakistani banks, they will try to totally blame that(in time), but what will take these banks down are the 50-60 Yr old CEOs lack of understanding around what digital is or means and the industry hero worship around “aray falanay sahab to baray puranay IT kay admi hain” 🙂 .

Exactly my point, you cant teach a “Purana admi” new tricks.

This lack of understanding also extends to the board members of these banks too. You ask why? because these guy do not use their own services digitally(ever), they are not the net new consumer so they can never understand why it sucks so bad. They call their admin, who calls the bank manager…you get the picture.

The first step to solving any major problem is the recognition that a problem exists. In the case of these mis guided banks and many other tech centric businesses in Pakistan is that they compete with each other and do not get out of their own comfort zone. Or they buy technology from global vendors without knowing what it is, because every one of their peers are doing the same.

When you compete with at the bottom rung of the ladder in terms of innovation and technical innovation all you end up with is a site/app/system whose success is measured by how many times your CEO sees the AD on TV about his/her product. Mis guided benchmarks about mis guided items demonstrated by more misguided people.

The best story I ever heard as to why the chief digital officer of a bank refused to buy online ads was as follows. He told me, that they wanted to go and acquire female customers between the age of 25-45 and ran an online adwords and fb campaign across the networks in Pakistan. Their CEO called and said you have spent 50k USD on this, I have browsed every major site in the country all week yet to see a single ad online but I see ads for “unani nuskhas” all over the internet, any site that I go to. The irony of targeted marketing was lost on the CEO. Where in both Google and FB delivered on those campaigns the CEO didn’t understand why he didn’t see the AD because he always saw it when he spent 50k USD on TV. Has any one ever measured how many millions of customers have banks signed up after every major TVC?

I will stay away from acceptable service levels of the technical initiatives of the banks but what I will talk about is the thinking behind digital and what is an acceptable baseline  by way of mobile banking in the year 2017. I will further not go down the security exposures rabbit hole,  because that doesn’t warrant a public disclosure of the weakness of the systems in place (of which there are a few dozen examples if not more). We will focus on the basic nuts and bolts of their front end customer sites/ digital customer engagement and the evolution of mobile banking or the lack their off.

I am selecting these banks in no particular order. Lets start with the mind set of digital and servicing banking customers in the age of technology.

Let me demonstrate how UBL is handling customer engagement on the Google Play Store.

 

This has to be a world first, an Eid Mubarak message within play store comments responses. Before the trolls start about oh we should be proud of Eid and whats wrong with wishing people on Eid, absolutely nothing. This just demonstrates the mindset of the person replying to these messages and the mind set of the folks who run or comprise  the digital function at UBL. Perhaps its not their fault either as the strategy arms of these banks are forcing down digital as a department vs trying to instill digital across the enterprise as an activity of transformation.  The image that comes to my mind is that of a an uber sweet 50+ uncle at UBL who has been assigned the task of responding to these messages after 30 years at the bank(BCCI Era) and with a view to give him his final pre retirement role. You dont believe me? See the an other example below.

A lovely message before Sehri. I mean talk about keeping it professional. What I am trying to get at is the fact that before Fintech destroys traditional banking in Pakistan, the traditional banking IT/Digital/Strategy guys would have already helped the cause fueled by their respective CEOs desire to “be digital” without knowing what the hell it means.

In the year 2017, the least I’d like to see is a functional mobile site. Lets see Bank Al Falah’s latest and great foray into this space. First of all half the text on the site is not legible due to bad font selection and sizing. Secondly the site barely cuts as a responsive site. Let us not even get started on thematic and lay out mistakes and the color red.

 

Trust me there is no way you can read the font the arrows are pointing towards. In this day and age of responsive, this design in it self is circa 1998 at best. Who makes sites like these? let alone banking site, where consumer education is key and information clarity is the difference between engagement only and engagement + conversion. This truly sucks.

One could over look a few UI/UX items but this site is riddled with them. No call to action any where, when a consumer comes to the site they come online to BANK or to Interact with the services. The drones who are building these sites are using them as a corporate/marketing site. There in is the issue, these rock stars of digital have not figured out the difference between a corp site and a consumer site.

I think a basic pre-requisite should be spell check.

But I digress. See this:)

In the year 2017 it should be a crime to have an info scroll menu being cut off (see the arrows).The slider box contents have to slide right to be displayed on mobile. I rest my case, if you cant pass on your information on a mobile platform let alone in a single interaction, why are you even in business? Is no one asking what the cost of rolling out these sites + the cost of the digital departments is, in relation to the online conversion and reduction to 1st level call center support. They should be directly proportional, first call resolution services should see a decline of 20% if an online site is capable of doing that for consumers.

But the best is yet to come.

The award for sloppiness, and lack of imagination goes to this main page, which has not one 1 menu, but see the arrows, 2 menus. Had the bank like a billion new exciting digital features that they wanted people to discover I’d get excited about this cardinal design sign. But it even the content is the same/similar in both menus.

Head of digital much? This is a question for basic common sense.

This stuff didn’t happen over night, nor can it be fixed over night. Banks give rise to  the most un imaginative breed in this country. To look at mobile evolution, you have to look at web evolution. I couldn’t resist going back to way back machine and look at HBL. I will let you decide, how far they have come in their evolutionary journey.

 

From 2008-2013 literally nothing changed online for HBL.

Lets look at 2017

Not much has changed either visually or operationally, same center image construct, with a menu on the right/in this case its kept with technical advancements:), same/similar top menu. So since 2013 what is the innovation that happened here? How can the largest bank in Pakistan innovate if the custodians of digital cant even get the basics right.

They arent doing any better on the Mobile banking side either.

As a consumer, when I come online to the Banks site the first thing I should be able to do is login to my account. Every single one of these so called digitally innovative or leading edge banks have failed at the first call to action(Login). I wonder how their CEOs judge the KPIs of their digital folks. How can you in this day an age build a banking website that doesn’t have a logon item front and center.

Interestingly as I browsed through various banking sites in my effort to find one decent example, I wasnt let down. Perhaps there are many others, but in terms of size scale and resources Summit bank actually had a call to action/LOGIN and an URDU button visible on mobile + their UAN and email address.

Alfalah and HBL both had it post one click meaning within an other menu. Summit also had the 2 menu problem(see next to the Urdu icon) but luckily one menu is just a CSS mistake and doesn’t do much on responsive:) But clearly there is no QA any where.

Coming back to UBL. They seem confused, their site opens up with a site selector on mobile to select region. It clearly doesn’t look responsive, it looks like a mobile ready site no less:) from 2001.

It should pick up your ip and take you to where you need to go, that stuff is free to implement and reduces one click.

When you do get to your so called mobile site, the following disappointment awaits you.

I mean look at the dead space. This has to be criminal in this day and age to have a mobile site that looks/works like this.

This stuff is followed up by the following stunts and I quote from the Banks own PR. http://bit.ly/2y0YIKt

KARACHI, PAKISTAN – 21 August 2017: IBM (NYSE: IBM) today announced that United Bank Limited (UBL) has selected IBM to support its digital transformation journey by establishing a Digital Design Lab, the first of its kind in Pakistan, to weave a seamless digital banking experience into customers’ daily lives. The lab will provide an environment for UBL’s interdisciplinary teams as well as its network of start-ups, fintechs, ecosystem partners, and academia to develop personalized and engaging digital customer experiences.

I dont know who should be more ashamed, the Banks CEO, IBM(for being an opportunist) or the banks Head of Digital, if they have one. For a bank that cant make decent responsive website the above sounds like hot air at the least and misguided adventure at best.

I hope the bank sees the irony in the disconnect. IBM Pakistan must be lauded for their foresight to make some money off folks who are clueless about what the digital journey means. This market and these banks are ripe for the taking.

In the same spirit. Lets talk about speed and some basic form of technical serviceability bench marks. In the mobile space to leapfrog from mobile to fintech to consumer fintech the one thing every one must get right to get the unbanked on to your platforms and services is speed and delivery of your technical site(payload)/service in the least amount of data streams as the consumer is conscious of their data spend. Lets look at how most of the banks in the country perform on the speed to performance co efficient. In no particular order.

 

 

Lets not go too far to compare. The first bank that came to my mind in India ICIC bank. I ran the same test on.

 

It has a 30 + point lead as compared to our banks on average. Its a mind set thing, you don’t have to be 100 on the scale to be great. You just have to work towards improving. What I have seen so far is a lot of mis guided non sense labelled as digital strategy.

I dont claim to know every thing, heck the intent of this blog post is from the point of a consumer who wishes to use mobile banking, I am happy to sit down with any one who has the wherewithal to recognize that a problem exists and then work on trying to find a solution so that this eco system of Fintech’s can actually benefit from the banking players(due to regulatory hurdles), who at this stage first need to get their own house in order to even remotely be competitive as banks let alone against Fintech companies.

Its a matter of time only, as the regulations ease out, the Fintech’s wont need the banks, the banks will be a dying breed looking to partner with Fintech’s to stay alive. Right now the banks have an unfair advantage viz a vi regulation, it is their hour to exploit it to their benefit. Sooner rather than later all this Digital strategy stuff will go down the drain and shareholders of these banks will be left without knowing what hit them.

If you are the head of digital at a bank, hopefully the CEO of your bank doesn’t read blogs and you can dismiss this as what ever you want to dismiss it as, if you are the CEO of any of the banks I mentioned, you need to sit down with your chieftains and figure this basic stuff out, before you are mis led in to believing numbers and indexes and kpi’s that were invented to make these digital types look good, you have a real issue on your hands. If you dont innovate fast enough its over.

 

 

 

Hello Developers….Are you building for the Onavo mindset?

So I was wondering how Facebook identifies upcoming companies, startups , products and competition. How did FB decide to acquire Whatsapp? How does it see traction? What tell tale signs is it mining for? Beyond trends there has to be hard data and user attribution that is allowing it to completely destroy the competition or rather either acquire or copy them.

The secret weapon is Onavo. They came to FB via a 2013 Acquisition.

Onavo was founded in 2010 by Guy Rosen and Roi Tiger; it raised $13 million from Sequoia Capital and others. It provides mobile data usage analytics and helps companies see how their usage stacks up against other companies.

So the stated acquisition goal was to help bolster its internet.org initiative as the underlying sorcery Onavo was doing at the time was measuring and controlling data usage etc. Simplistically speaking, plus it gave FB its first office in the Holy Land, not that they couldn’t go to and build an office in Tel Aviv.

But the added value of the data apps that they built, was what was under its belly, the analytics biz, which gives app makers the ability to gauge how their apps fare on the open market, as well as giving more insight into how people actually use the apps after they’ve downloaded them.

Imagine, Facebook can use that download and user activity data to spot trends in apps that are up and coming, potentially spotting at a very early stage the types of apps that are gaining traction with the public and what the end intent of that app or service or network is.

FB is doing a great job at it, they are approaching potential threats faster, doing more acquisitions faster and also they are not shy any more of copying features once they identify them.

From a Corp Biz Dev standpoint that’s the nirvana of information dis partiy. Facebook’s corporate development team can then check out these companies and enter partnership deals early on in the game — or perhaps just outright buy and hold them .

So my fellow developers from Pakistan, what you need to be working on is stuff that scales and build traction, FB is apparently watching. So instead of focusing our time on Meme Forwarding, we need to figure out how we commercialize a 56m+ internet audience + active daily users to satiate FBs interest. Remember it doesn’t have to make money yet, it only has to have an audience and active user base at scale. They could care less if it makes money. So stop. Pause , calibrate and think. Perhaps you have an idea that by design you can make-work.

Today when I look at Onavos, new and improved app and check out their privacy policy, I can be certain that they are enjoying the oodles of data we are all providing them.

We do not share or sell your personally identifying information to third parties except if we have received your consent or given you notice, or in limited circumstances described in this Policy. For example, we may share personally identifying information with third parties and “Affiliates” (businesses that are or become legally part of the same group of companies that Onavo is part of, including but not limited to Facebook, Inc.) to operate, maintain and enhance the Services, or for other purposes as described below. 

Pretty freaky stuff if you are paranoid about privacy. But if you use FB today you already gave up most of those rights.

Some argue the market size is not large enough and FB really isn’t interested in Pakistan. On the contrary, FB at the moment has product teams working on analyzing the data and insights its getting from FB users from Pakistan as is evident from country specific items showing up within FB. Small subtle hints like Urdu text appearing in shared FB links, the FB OG tags them selves have new undertones supporting some product localization efforts.

Rest assured they are trying to figure out all kinds of sharing habits, they have enough meta data. I wouldn’t be surprised if they become the largest (original) news/information/content source in Pakistan in months and years to come given they have exacting level details on every target demographic and their sharing and consumption habits. Keep this in perspective, every time a marketer sets up a FB campaign for a client, FB has access to that data, they can almost in real time track the full lifecycle of that activity. Similarly the single biggest nugget of information FB has is access to political sentiment data. We will leave it at that, but the Trump campaign apparently relied on FB to Swing voter sentiment. So just saying, imagine the real power FB has with this data at play.

FB like Google has no office in PK perhaps they don’t need to. Their recent VP level engagement with the government shows that they are intrigued enough to come out to protect their interests. They just don’t know with the political climate at play, what side to join. Like Google they can get most of their stuff done remotely. Or hire third party contractors to provide local context to data without actually telling the poor data analysts what the end outcome of this data collection will yield. If they were smart(which they clearly are) they would be pairing psychometric and demographic info an adding a contextual layer to it to basically understand both market trends and growth opportunities. Given at their scale the total market growth opportunity for them in Pakistan is probably worth investigating but not action up on yet.

If they were to launch their marketplace feature in Pakistan, they would wipe clean every single Craigslist variant in the market, Kaymu etc folding in to their parent are fairly good examples of times to come. It would also completely clean house on the private seller groups on FB as there would be a natural tendency for people to move to the market place model, as you add secure payment on top of it, it would essentially clean up the mid market e-commerce folks also. Don’t know what FBs grand plans are in that space but clearly a lot of hustle is happening. Facebook is getting stingy about Pakistan based content producers accounts to be verified also, in its mind as the smaller guys who own large market views will become a big challenge if they are verified. Hence there is no clear policy on verification and based on market sentiment, private small publisher who have 10-20M Page views are constantly being denied the proverbial gold standard, albeit the blue verified status.

I am sure from mom and pop sellers to folks selling scorpions on FB are clearly trends worth exploring. The moral of the story is, there are many ways to stand out especially if you have a product, service or content play that can attract X-Million active users in Pakistan. The larger the scale and larger the active user demographic, with a compelling idea or product, you will be noticed by FB. Make sure you have a Delaware corporation that your are tied to, else the legal formalities of either investing in you or acquiring you will be a larger pipe dream than actually building a product that gets acquired. Lots of good things are happening in this space, keep your eyes out, build products that scale fast build market traction and will remain locally relevant. FB will come calling.

Digital Displacement Camp | PROGRAM OVERVIEW

Experience the highs and lows of a startup and entrepreneurship in |1| Day.

 

Who is this #BC (Boot-Camp) for?

  • An entrepreneur or any serious entrepreneur.  What you should be thinking before you think about coming. I have an early-stage startup or aspire to start one. I want to get on a path to a paying customer and want to understand the mind set to build, grow and scale.
  • A corporate entrepreneur- (Intrapreneur ). I work at a growth-stage startup or established enterprise. I want to help my company innovate. At the Boot Camp I will learn new tools and will learn from ideas and innovation around me to take new learning’s and a new mindset back to my company. Hopefully they will change or I will do some thing with my time that brings change and focus on launching some thing my self.
  • A team or group of folks. You want to work with us to develop a rigorous business plan, pressure-test your processes and become a better team but don’t know where to get started? Then you must come.
  • Any one who feels he/she is underwhelmed by life and wants to do some thing about it,  a retired professional or  a wealthy individual or a retired wealthy individual , who doesn’t know what to do, but has the inkling to do some thing, also has some ideas perhaps some reserve funds, or a fantastic product that they’d like to commercialize or get involved in a cause that helps others around them by either their time, experience or money, you are welcome to register.

Here’s how you can still register

https://goo.gl/RG7n7k

 

Challenge Yourself

Entry to spend a fully day at DDC is highly selective because time is precious; we only want to bring those who have committed to building their own Displacement Capital TM. Many will apply. Only a few will make it through to the initial bootcamp. Its all about mind set, if you didn’t bother to fill out the form beyond a few lines, you need to do better next time.

 

Window into You

Learn more about your own strengths and weaknesses. Working with “randomly selected” teammates who are the same but completely different, not only helps you become a better listener but also more open-minded and trying to learn to de construct problems and get a window into seeing your self from a distance and interpret the best and worst of your self for better future outcomes.

 

Key Challenge + S

At the end of the day, attendees will identify a key challenge to solve, present their solution and receive specific, and actionable feedback not a pat on the back, in fact the idea is to make you recognize failure and success so you can either re calibrate and move on or scale and grow.

 

What can I possibly Learn in a Day? (at least one thing more than you knew coming in)

– Team Dynamics & Conflict Resolution
– How to think about innovation , Identification of problems & Ideation
– Establishing Product Market Fit
– Scaling for Exponential Growth and thinking BIG

 

What are the Stretch Goals of the session?

– Learn to solve challenges in a disciplined & systematic way.
– Experience the challenges of 2-3 years of startup life in 1 day
– Develop a can do attitude and take things head on
– Believe in your self and your idea(s)

When is this happening?

SAT 19th of August

Where is this Happening?

Karachi, confirmed participants will be given location details 6 days in advance.

How long does this last?

It runs from 9am to 6pm. Its free to attend , Lunch will be served.

Who will run the session(s)?

The primary session/day long activity will be run by Faizan Siddiqi (www.linkedin.com/in/faizansiddiqi ) http://blog.chinookstrategy.com

There will be guest appearances through the day for 30 mins each, which we will confirm to the participants once we make final selections given the sheer volume of interest we want to make sure we invite meaningful speakers to maximize the utility of every ones time. Keep an eye out for this space, I will be sharing speaker updates here.

 

Happy Learning.

 

No way Out! Zero Sum Game.

Dynastic politics is killing us, it is killing our youth it is killing every thing in its path. The only way out is to stop caring and stop following them and stop voting for them and best of all stop watching and discussing them. Period.

We have 2 varieties in the last 5 years or so, the twitter media cell type and the non national language speaking, reading off a Roman Urdu tele-prompter type. Worse than the a** that says skoority(security). These 2 types are the self professed leaders of our past present and future. Even in death they are f***i*ng zinda. Wonder why the religious zealots haven’t come out in droves giving fatwas on the “still alive” statuses of the various cult groups.

After the Panama drama nothing has happened really, besides the fact that some other scandals to either divert attention or to keep busy, its becoming a national occupation to tie up peoples mind in meaningless banter and to reduce the national IQ far below pre partition. As Ive stated in the past, As a country, three businesses have survived the test of time in Pakistan. Politics, Military and Religion (PMR).

Where as, in the grand scheme of things we should worry about running the country. We literally have nothing to show for the last 70, we are here in spite of these moronic so called leaders, not because of them. If it was up to them we’d be bankrupt, just like they are; morally and ethically bankrupt the country would be too, so we must do some thing worth while to make the next 70 count.

I have come to the conclusion that we are too lazy for revolutions because it means getting out of our comfort zone and hoping some one else comes and does it for us. The the three pillars of PMR (Politics, Military and Religion) have basically been self balancing as they out maneuver each other for their own survival thus as a consequence the country has remained, because they need the country for their cause, but their cause is not the country.

Todays post is about the genuine problems the government and so called other powers be must look to solve or for you to read and understand that irrespective your

Irrespective of your Political alignment , you are being f**d and have been consistently f**d because no government ever or any political party has done any thing to focus on the country. The country is like a private stage where warring political factions sling mud on each other and the numb “riaya” chants them on whilst the (MR) plays referee because we let them. Just like I give startups ideas and suggestions on what problems to solve or build startups around, I am compelled to direct the attention of the idiots in power to solve the following and their followers to understand the gravity of cluster f**k we are all in.

Items that are beyond race, religion or creed that need immediate attention are:

  1. Clean Drinking water
  2. Counter measures to DAMs being built by India
  3. Internal food security before allowing the Big C(hina) or others Farm Access
  4. Power independence and short fall mediation (read non Qatri LNG)
  5. Disease Management (beyond fake plastic health cards)
  6. Industrial Pollution and Long term health damage due to an inefficient EPA (beyond handing out masks to traffic wardens)
  7. Implementation of CNIC based TAX reforms across the board(unlike selective score settling)
  8. Tax on Agriculture (so that the rich from behind bullshit stops)
  9. Figuring out foreign policy by having a foreign minister who knows some thing about foreign affairs besides having lived in a foreign country and worked at a bank till the 90s, I digress we also had a PM who was a banker, seemingly cut fantastic deals for him self in the process/*Allegedly before his PR teams start taking shots at the blog.
  10. Having some one who knows some thing about technology and has built some thing of value besides their reputation using local media to be in charge of our technology policy and be a steering force for the youth as opposed to being a mythical character yearning for the love of the PMR crew. (read selfies with politicians and of prayers and brandishing guns to show relevance to all three)
  11. Access to open market to compete against the industrial complex owned by various Pillars of PMR.

This list can have dozens of additions but a baseline is to get these 11 addressed or start a meaningful discussion.

The question to ask is that are we collectively stupid? We all know that the XYZ Minister ka bhanja whose car you like, neither paid the duty on it nor has he earned an honest days wages to understand the value of buying the car from his personal equity let alone the fact that he lives rent free.

Whilst his “rich from behind ass” rents their land to the most marginalized in society to farm a piece of land yet pay no taxes on the accrued income built on the sweat, blood and tears of the most poor. Yet we continue to hero worship and idolize these bozos. It also applies to the uncle-business man down the street whose middle name is under invoicing but he is at the forefront of the construction of the muhallay ki masjid, whilst his sons Facebook wall reads like a hustler memoir.

This must stop and the youth must stop idolizing these guys, we need better role models, not necessarily rich but who have a sound ethical grounding and are not morally bankrupted. We need to call out this bullshit where we see it. Starting from the morons who beat the lines in a Bank queue to pay bills to the guy who cuts line at airport check in because he has some uniformed dude with him. Raise your voice, no one else will, try it, its not civil dis-obedience its your right. Exercise it ask questions. Don’t become the moral police though and dont have visions of grandeur.

This culture of entitlement, waasta, juggar, hawala has to stop. Some one must step up to call it out. It must be you. We must encourage our kids to admire their teachers, their mentors and offer to be role models in every thing we do as parents, colleagues, friends, neighbors and family. As opposed to opulence, wealth, television fame etc being their role models. Till we fix that, this will remain a zero sum game for all times to come.

Sadly the generation before us was too afraid to engage with these type and because nothing was said, nothing was done(because of their own sharafat), they remained silent so first these morally bankrupted moved in to our  Cities, then Muhallas and utilimately in to our lives. This culture of badmashi and speeding cars with guards brandishing guns must stop. Cant the oh so honorable establishment not take action on limiting access to guns and display of such. They do a good job of making rules for various clubs they run, like you cant wear slippers and shorts in the clubs. Clearly this stuff is more dangerous right in the neighborhoods and streets our children call home. The likelihood of getting assaulted or harmed by nicker wearing middle aged man with slippers is far less than a thug with assault rifles carried by guards high on shit.

We must also select product to market fit in government and all other elements of the state, starting from hiring people who know what they are doing and clean up the messy system we have, because its broken from top down and bottom up.

We must also rely on market forces to allow companies to compete and grow. A cursory look from a Senate hearing in July 2016 where in newspapers of the country reported that every major commercial space had some form of the welfare trust participation in it. Take a look for your self, how will the youth of this country compete against such an  industrial complex be gainfully employed in with out an “M-background” of sorts.

So from Horse breeding, to seeds, to aircraft services, to oil, gas , power, fertilizer, cereal, food, housing schemes, leasing , insurance, education, medical , foreign direct investment outside of Pakistan  the list goes on. Can you imagine the US Marines retired or other wise or the Canadians for that matter running a horse breeding business and making breakfast cereal, so instead of Kellogs wed have Marine Cereal ? Yet we grew up eating

How did all this happen? Did we get inspired by General Mills.

The popular joke from the 60s goes that when  when Golda Meir  met with President Nixon, he told her that he would trade any three American generals for General Moshe Dayan. “Okay,” she said, “I’ll take General Motors, General Electric, and General Dynamics.

Such was the lust for the American Generals of Industry. Other versions of the story claim that he said he would trade 4  Generals and she asked for “General Mills, General Dynamics, General Motors & General Electric”. What ever the case may be it makes for an interesting story.

Was there no one else available to launch commercial businesses? Thats what I some times wonder. Clearly they are being run well at least as they are profitable and typically in a monopolistic position and making acquisitions. But I rest my case. The issue always has been that a chosen few are in control of the destiny of a lot of others , but you have the opportunity to change that. By working your way via innovation and disruption in tech. Not the political disruption, the time for that is over. But since you were wondering, here’s a LIST of all those businesses.

 So nothing is perfect, far from it, we have every conceivable business advantage going to the political types who by force or by bending the rule of law evade taxes and get undue benefits and continue to exploit information disparity in their favor; where in Gwadar will XYZ be built, then proceeding to buy land around it or getting their cement brand being sanctioned for a government project , the ways and methods are many, so how can any one else get a chance in this crony system? Its tough, but we must think it has to start somewhere, by calling out shit when we see it. For example why the f**k dont I have an oil exploration concession or and LNG Pump or Pump(s) or what about a Sugar Mill?

I am not old enough to know the historical context in person but I do have the right to find out why some thing the way it is. As do you. Without accepting the status quo.

Albeit in 1953 this was all the start of a welfare corporation to support those who had served. Zero contest on that point we must take care of our own especially who those who serve and protect. Always and forever till life eternal but no one has the right to tell me what to believe and what questions to ask or not ask.

How did a welfare trust in 1953 result in 50 commercial enterprises. Most of it by an obscure yet very powerful act namely the THE CHARITABLE ENDOWMENTS ACT, 1890.

Yup you read that right 1890. Not 1980. I mean we have to modernize and move on.

Even if that was the case then, why now  can  they not be run by a public private partnership where operationally they must be expanded like a reverse nationalization project but this time for the welfare of the masses?

If this industrial complex produces a couple of billion $s then imagine if we took our brightest, infused it into it, we would build national companies that would create un surpassed employment and innovation at scale and not be monopolistic in nature but pure enterprises benefiting all and sundry.

Now that is a proposition that would truly make us a welfare state when we have enough cash in the coffers via such private enterprise funding the rest of us. The welfare of the state before any one else, so we must work on some thing that course corrects our current state for the next 70 years. Just a thought, if welfare is the premise then all citizens are created equal.

If that is a past item in history then why must I not, the average citizen of Pakistan have the first right to apply for the right to be the CEO or Board Member of these firms ? Does welfare mean patronage on both ends of spectrum? Land allocations in service and other subsidies, and corporate jobs post retirement?

Were these companies created to provide post retirement value addition services in a country where there are youth who are un employed by the hundreds of thousands. Agreed the state must provide for post retirement benefits of service men. But through commercial enterprise. A great example is to setup a pension fund perhaps one comparable to Veterans Pension or  OTTP or OMERS

88m$ of OUR  national forex sent to Morocco to start a plant? Could those funds be used on education or health care in my own country? If welfare is the crux of the system, what about welfare for all of us , domestically?

But its all out there in the public domain, I’m neither referring to some thing new or asking a new questions the thing is, our collective memory is so short, we don’t remember any thing and we get back to our national past time of watching political stupidity on television and never come to core issues long enough to ask or inquire and or to get answers.

This stuff is available in print and online and these organizations are the fiber of our national economic activity(which by the way on its own is good for the economy at large, creating jobs and supporting trade) Just that public debate beyond text messages should be undertaken on every thing in the land that affects every one in the land.

The list of questions goes on and the answers not as much, because no one really gives a damn to ask we are so tied up with our collective misery to give a rats a**. Further any items on this have their own repercussion’s because god forbid any critique or asking questions is the equivalent of loss of valor and patriotism. All that too is in the minds of the people and the stories being sown via text books from an era gone by, in 10 years with information parity and some form of education displacement I am hopeful we will focus on building unicorns as opposed to believing in them:)

But for now for us to succeed in business at home in our families and in life at large we must call out the bullshit being served to us, we are neither indebted to any one or enslaved to one political mind set or an other, I owe nothing to any one, it is as much my country as any one else’s and I hope yours too, thus I urge you to take a stand, it has to start some where. Stand does not mean a grand stand. It means to focus your energy on productive items.

Let it start by asking the right questions and by giving up hero worship and by un-following every one on FB/Twitter/Instrgram you follow because of wealth(mostly ill gotten) because its great to see their vacation pictures or their “friends” etc. That shit is short lived, fake and at best marred with inter family and inter communal jealousies and hatred to last a life time. Its not the stuff of legends lets focus away from it. There is better stuff to be done with our time.

Time to f**ing move on and do some worth while as opposed to wait for some one to hand you an opportunity or by trying to hang around these losers in hope of getting dealt some favor or some contract or some access or some material information that will let you make a buck. Scr**w all of that, in technology you have the single largest equalizer, put your mind to good use, do some thing worth while, I guarantee all these guys will line up around the block to hang out with you. So don’t get impressed easily, write off  these *nouveau riche  as the barometer of success and take a stand for your rights starting from today, mostly by asking questions and focusing your energy on building some thing at scale. There is a way out, you must want it badly enough! Also its not an iqama in Dubai or Saudia. Onwards and forwards to building Unicorns.

 

“Wherever they may have come from, and wherever they may have gone, unicorns live inside the true believer’s heart. Which means as long as we can dream, there will be unicorns.”

Bruce Coville

Bring your ‘A’ game Pakistan

The Valley is always a unique experience. But this time around it is proving to be a fairly eye opening one. There is more capital than opportunities, for VCs to put money in. LATAM to Central Europe to China to India, to South East Asia there is a VC gold rush. No one wants to miss out and be fired in the process.

The level of fake BS is also on the up and up. Every VC I’ve met so far is focused on AI, ML in emerging markets. A vast majority of these guys are lip servicing because one or more of their peers are operating in this new space.

Frankly it sucks to see this over abundance of capital in these markets whilst there is little to none in ours. Interestingly enough the reason for this capital or the ecosystem is due to the fact that the startups of yesteryears are now the VCs. Thus solidifying the belief that we need to promote startups as best as we can to grow and scale. Plus these countries are well represented in the valley and one common thread amongst the markets where these startups come from, Google pretty much has a presence every where locally i.e an office.

Pakistan not as much. There is representation, there is interest, but some how the needle is stuck as us being a sales destination or net consumer of Google tech /service as opposed to a net producer destination. Google isn’t to blame for any of this, if any thing they are the net positive contributor to Pakistan even getting a seat at the table. Not because we don’t have interesting companies but because there is a lot to be desired with the optics. Every one I’ve met this week, was surprised that I hail from Pakistan, that there are tech startups in Pakistan, that my last Company IPOd at LSE , that we have built technology featured across Google I/O and that there is a Google supported incubator in Karachi. So far so good. The thing missing is a large scale disruptive story out of Pakistan and I do not mean political, I mean a startup story of success.

The thing is, after multiple mentorship sessions and interacting with diverse startups from across the world, the one theme that is clear, startups every where want one thing , “they want to change the game” and it starts and ends with the team at play. Ideas come and go, the people who can execute them are the real game changes, so we need to promote the right teams and enable people to think big.

An other notable thing here is camaraderie, there are clusters of close relationships, people help each other and we must borrow a page from that manual. The other not so surprising thing is the age of the founders and companies. Compared to both our ecosystem and the typical businesses heroes we celebrate in Pakistan, we need a wholesale change. Tech, really is the only thing that can create Displacement Capital and empower gains larger than the cost of input. Till we start displacing old money and old capital by creating new money and new capital at scale we are doomed. We need to think big and dream big.

(To get started with this exercise I will run “DCC- Displacement Capital Camp” in Karachi in August and get the ball rolling on this).

Our startups are no less smart and no less driven, but we need to think about solving global problems as a starting point. I met some one on the sidelines who told me they wanted to build a 5b$ company. Call it crazy talk but he got my attention, you cant build billion dollar companies if you are looking to raise 50k$. The scale has to change. The thinking has to change. Most of all the mentors and role models need to change. The ecosystem needs to get more examples of actual doers rather than self promoters, don’t get me wrong plenty of those around in the valley too. No shortage any where in the world of those types.

The thing is, resources are scarce competition is tough, for our startups to scale and grow we need to bring our ‘A’ game to the table else we will be irrelevant in the business of Unicorns.

Why you should care about Allen and Company & not Raiwind and Company

You can and will be forgiven if you didnt know any thing about Allen and Company before today. But only this once. It tells me a few things about you, the amount of online hours you are spending need a new cause, as what ever you are doing online is clearly not half as bad-ass as you think it is.

Every summer, the the tech, media, and business titans assimilate in the resort town of Sun Valley, Idaho. You ask why, they are there for investment bank Allen & Co.’s week-long conference which has been an annual ritual for 30+ years. It took them 30 years to be an overnight success no less.

This year too,  brought some of the wealthiest and most powerful people from around the world to Sun Valley once again.    Deals forged at the event in the past have included Amazon founder and CEO Jeff Bezos’ purchase of The Washington Post, and Time Warner’s ill-fated merger with AOL.

To give you an idea, the billionaires summer camp attendees’ parking lot is Friedman Memorial Airport, which was packed to capacity with 100s of Millions of dollars’ worth of jets as of midday Wednesday as the event was kicking off .

With around 85 jets, many of them Gulf Stream G650 and Bombardier Global Express models boasting wingspans of almost 100 feet and prices of $45 million to $65 million each, the airport is a private gateway to Sun Valley for most attendees, whose nondescript aircraft typically carry no logos and are often fractionally owned. Did I say this was an invitation only event?

This time around the two that stood out were  Nike and Sprint , their jets’ flashy graphics featured company logos and left no doubt as to who was in attendance. I guess if you have your own Jet you can be forgiven for this type of opulence.

The gathering is put on by the investment bank and is closed to press. It attracts an impressive array of moguls. Warren Buffett, CBS CEO Leslie Moonves, Snap Chairman Michael Lynton, Viacom Vice Chairman Shari Redstone, and Discovery CEO David Zaslav are among the names who have flocked to the resort and in the coming weeks many many more names will surface.

The gathering  included panel discussions on the state of the economy, the political divide in America, the drug epidemic, and scientific breakthroughs. Bill Gates spoke on  philanthropy.

Other speakers include Nike co-founder Phil Knight, Colombia President Juan Manuel Santos, King Abdullah II of Jordan, and General Lori Robinson, who oversees North American Aerospace Defense Command and U.S. Northern Command. (So yes it is a big deal) Past gatherings have included talks from the likes of Argentinian President Mauricio Macri, Canada Prime Minister Justin Trudeau, and former Secretary of Defense Ash Carter.
While in a parallel universe the entire machinery on our side of the planet is either trying to prove or disprove who is innocent or not. Where is our Allen and Co? We have industries and industrialists that pre date Allen and Cos 1922 foundations but thats exactly the problem.  The industries and industrialists  lack smart capital and an even worse we have a lack of companies, tech or otherwise who have either the scale or the gravitas of what is required to be globally competitive. We have some great companies, but we must not fool our selves of their paltry success against the S&P 500.
To give you perspective, here is the list of the companies with the highest Revenue Per Employee of 2016. Yes this is the revenue one employee contributes in that firm (hypothetically total revenue divided by employees). Some of our largest companies do not have total revenue equal to RPE of these firms let alone tech companies.

The table above shows the top 50 companies by Revenue Per Employee in 2016 in S&P 500.

 

This is why the Allen and Company Billionaire camp is note worthy, a host of these companies were represented there. We need our own camps, we need to start some where, it most certainly cant be f***  Raiwind. We have to get past our national obsession with “small people”, be it politicians or the forces or media personalities, we have to create our own billionaires club and not one which is created on the back of *allegedly looting innocent citizens.(* matter being           sub judice) . To create such a club we first need to dream and have ambition, that too kosher ambition , the halal variety that is not an outcome of robbing some one.

Also we have to park our national obsession of saving money vs generating money, these people did no become billionaires by saving X% of their income, they did amazing things that lead to amazing companies that led to amazing fortunes, you can not save a  7 or 8 or 9 figure net worth.  The best return on your time if you invest it in making money instead of saving money.

I see startups, people, businesses,  moms and dads, spending 30-40  hours per week doing simple household tasks, looking for deals, driving all over town and working their asses off to save  Rs 15000. Before you write me off as heartless, lets look at the flip side of the coin, If they would spend that same time and ingenuity working to generate money, they could easily lock down a potential promotion at work, if self employed add money to the bank by growing revenue using the same ingenuity and time, as I said before we need to be hustlers. All of us. Thats whats missing from our DNA, we have enough “juggar” hustle, but its real economic mind set hustle that we need.

That’s the real difference between a scarcity mindset and abundance mindset. All our lives every thing has been so scarce in our life that we have become hoarders, we hoard water, power, fuel, food and every thing in between albeit due to the likes of Raiwind and Co types, leashing economic hell for decades,  we have to totally and completely stop working so hard to hold on to a tiny slice of pie. We need to start  working on making the god damn slice bigger.  But we cant be blamed entirely as we have been conditioned this way.

The number of technology companies in the Fortune 500 has steadily increased since 1955, and this sector saw the second highest revenue growth during this period.It is also no surprise where companies are from. Take a look.

The  table above shows the growth rates of the 47 companies in this sector.

 

We need our California, we had it once in Karachi, but its been pillaged and run dry. We need a place that fosters growth, the arts, music, literature, tech and a general sense of freedom and an open and tolerant mind set in what we do and how we do it. We need to move away from minding others peoples business to using our minds to grow our own business.

We need to move away from thinking when the power going to be cut off to worrying about if our AWS account will be cut off . Its a paradigm shift that wont come, irrespective of how much electricity Raiwind and Co generate. We still have a Minister who thought Calibri like Black Berry was was a phone and not a font on national television and still kept on arguing to make his point. He is presently Minister for Law, Parliamentary Affairs and Public Prosecution.

They say a picture is worth a thousand words so for a change Ill share some for you to make up your own mind as to why the Allen and Co camp matters and why we need our own rival.

Rupert Murdoch, executive chairman of Fox News, and Lachlan Murdoch(son), co-chairman of 21st Century Fox
The Wizard of Omaha Mr Warren Buffet
Apple Ceo Tim Cook and Sr. VP of internet software and services Eddie Cue
Amazon founder Jeff Bezos
Mark Pincus CEO of Zynga
GoPro CEO Nick Woodman
SNAP Chairman Michael Lynton
CEO Ycombinator Sam Altman
Twitter COO Anthony Noto
Former Ebay CEO John Donahoe
GM IBM Watson David Kenny
CEO Discovery Communications David Zaslav
CEO GM Marry Barra
Stewart Butterfield CEO Slack
Kleiner Perkins Partner-Bing Gordon
Ceo RRE Ventures Jim Robinson
Mr Facebook
Ceo of Warner Bros Kevin Tsujihara
CEO of NextDoor Nirav Tolia and Wife Megha
Jerry Yang of Yahoo Fame

Want to know what was happening in Pakistan around the the same time whilst Allen and Co sessions were kicking off. Raiwind sessions were kicking off. Ill leave it at that and one picture to sum it up.

Raiwind and Company

Interestingly enough with all that was happening in the White House these two still made it and were taking calls from the sidelines.

Ivanka Trump and Jared Kushner on the sidelines of the Billionaires Camp

 

This is how they make sure that the show must go on. Not like our Raiwind and Co who are  obsessed with their own Incestual shit to give a damn about the rest of us. So its time we step up to the plate. No one will come and give us our Allen and Co it must rise from within. In the process clean the ( tax evading, bank loan defaulting, ECL listed, under invoicing, duty avoiding, politically motivated, morally bankrupt) filth that occupies the seat at the table in the corridors of business today and hand the reigns to those who will treat Pakistan and her subjects in a better state than they got them.

 

 

 

The End of Apps : OK Google, Alexa.. From AMP to PWA to AI

 

Play First, watch for about a minute then read on.

In 2016 Vani Kola, MD, Kalaari Capital asked Rajan Anandan, MD, Google SE and India, at the Kstart Digital Marketing Summit to share his thoughts. In retrospect when I watch this(he did know some thing) clearly the rest of us are only finding out.

If you watch the video, he categorically said if you are building apps you are toast. He wasn’t wrong really, he was actually so very right. So if you are a young scrappy developer in Pakistan and you are building Apps, for the most part, just don’t do it. You need to up skill your self and get on the new-age band wagon.

Google and FB are obsessed about bringing every one online because when you the user come online you will spend time in front of their ads and hence GF (Google and FB or your Digital Girl Friend) will make money on advertising eye balls. Like the proverbial girl friend, GF are also only happy when money is spent on them, albeit their platforms or when they make money, the online equivalent of investing in any relationship.

So why re invent the wheel? Cash in on that obsession. That obsession can only be fueled by fast access to data, super clean interfaces, offline content access(PWA) and converting the slow web(to AMP- Accelerated Mobile Pages, Or Instant Articles based) items.

So ask your self, why aren’t you already on this bandwagon, why aren’t you picking up this skill and adding it to your repertoire? I can think of a couple of reasons; if you develop for the domestic market, Your average client is an idiot, your boss is probably an even bigger idiot, if you work for an FMCG your boss or marketing leader is obsessing about Likes and shares(tragic) if you work for a development shop then you are probably building for the ecosystem around you, neither is benefitting your cause. If you work for an e-commerce player, you are still trying to figure out what it is that your employer actually does and how broken your systems really are. You need to step back and re evaluate where you are as a developer.

But your primary resource is knowledge and information both accessible online and free, you need to see past the so called nonsensical thought leaders domestically and try to grasp what’s happening and how up-skilling your self will increase your marketability and keep you relevant. They only care about doing Banking Summits, Ecommerce Summits, Mobile Payment Summits , Advertising Summits and give awards to each other. When I see what the average person/organization is working on, I feel the IQ in the room dropping collectively by a 100. We need to be innovating, the first pre requisite for that is to be on the stack, technologies and methods that are making waves across the world. Not what we learnt in programming class or what our egg head “team lead” says or does. Nine times out of ten I can bet, they are just happy in the fact they know more then their boss who is probably in their 60s and they are happy to be the “technical” guy at work that their boss leans to for support. In that sort of eco system you will always remain mediocre. So step away.

The world doesn’t end with AMP, it’s a starting point, get all the worlds information to load faster, So that’s happening weather you like it or not/same with instant articles(albeit inside of FB), Next come PWA(progressive web aps, the antithesis of real aps, it’s the evolution of the web, a website that works like an app, wow, what a cool concept. The thing is, you are already late to the party if you have not starting working on this for your client facing work. So you have super fast pages ala google cdn, you click you come to a PWA site that’s light weight, works in offline mode and doesn’t need you to get a 25mb app to do the same thing. Wow?

Whats the use case, in our part of the world(which is the fastest growing part of the digital world at the moment) the average user has a $32.26 USD smart phone, with limited capabilities, they delete apps daily to make room for others, but as data prices fall they can add to home screen a PWA and viola, no need to install un install, for content based apps which is the bulk of use in our region. Just like an app needs internet connectivity so does a PWA, what the PWA does is, it uses less data to actually cache every thing. So the user experience is fast, it off loads the processing online with keeping space free for camera and other user needs.

So the use case is brilliant. Further as most of the lower spec phones do not have a licensed play store, this is the fastest way to deliver your content. Also fear the wrath of Google when and if they brick the phones or dis-able app installs on unlicensed android devices. Will PWAs be your savior?

So you are still un sure, then see the second part of the clip from above, just watch for 10 seconds or so.

Moral of the story, stop building for the NOW, start building for the future and the future is closer than you think. The thing is, for all its advances in AMP and PWA the next level of growth or client engagement will be voice driven and AI based, OK Google to Alexa to Siri perhaps. But there are still ways to go before native support for URDU arrives, Google is hard at work(or maybe not), perhaps not really realizing how big the offset will be the minute the focus is on Urdu. But till we can communicate with AI in Urdu, AI wont be able to communicate back. Localization and discovery are 2 aspects every one must start working on today.

A third of the local mobile smart phone users, only play games and don’t consume text content, they do consume video, but cant search, so they rely on links forwarded to them, they operate the device on visual cues because they can neither read nor write. But they click links sent to them. Now imagine if they can originate the links if they had access to a discovery service?

So imagine the power of combining visual cues + discovery platform + AI. Or even starting point, Visual Cues + Discovery Platform + Fast Loading + No App install. The possibilities are endless. You have to start building for the future, the future is showing us that video will be all the rage. So you must get every thing in order, to manage that reality and to capitalize on it. It also shows the convenience will be all the rage. It shows us that we will offset our tasks, needs, action items to a voice in the cloud. Are you building for that challenge? or you still stuck in appeasing your boss, your client, your company and yourself. You need to be working on Google Actions and Alexa Skills and what ever else shows up in this space relevant to the ecosystem. The time is now. Stop wasting your time, re calibrate and do your self a favor.

Pro tip: If you are a young freelancer and work on android or ios, your work is typically a commodity at 25-30$/h if you are half decent, the average free lancer specializing in AMP/PWA/Google Actions/Alexa Skills is over 50$/h. The choice is yours.