‘Watch out Tesla believers’: Critics are piling on to warn the 300% stock rally will crash and burn

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  • Tesla shares have soared 300% in six months, hitting an all-time high of over $900 on Tuesday.
  • Investors, analysts, and politicians are warning investors the rally won’t last.
  • “I have no doubt it will end in tears for many people,” one investor said.
  • Visit Business Insider’s homepage for more stories.

Tesla shares have surged about 300% in the past six months, hitting an all-time high of over $900 on Tuesday. Traders, analysts, and politicians are lining up to warn investors that the run up won’t last.

“This is obviously a computer-generated rally, it’s not a reflection on the company, or on valuation. It’s just a trade,” Andrew Left, the activist short seller behind Citron Research, told MarketWatch this week.

“Yes, I’m shorting it … whoever bought it at these prices has to flush it out, and when it flushes, it’s going to flush hard,” he added.

Left’s comments came after Citron blasted the stock rally as unsustainable.

“We believe even Elon would short the stock here if he was a fund manager,” the equity-research publisher tweeted on Tuesday. “This is no longer about the technology, it has become the new Wall St casino.”

Others have warned Tesla’s rally will hurt those left holding the stock when the music stops.

“This is an incredibly dangerous place to be buying the stock and I have no doubt it will end in tears for many people,” trader and analyst Jani Ziedins wrote in a recent post on his Cracked Market blog.

“Owning a stock that’s tripled over the last few months is great, but don’t mistake serendipity for skill,” he continued. “While the fools are spending all of their time daydreaming about what they will buy when the stock breaks $1,200, smart money is selling their stock to those greedy dreamers.”

Matt Maley, chief market strategist at Miller Tabak, echoed those sentiments in a CNBC interview this week.

“This is taking Tesla well above a level that would be supported by its current fundamentals,” he said. “The stock is going to get absolutely clobbered at some point before long.”

Even former presidential candidate Ralph Nader sounded the alarm, warning Tesla could take down the entire stock market.

“When the stock market bubble implodes, it will have been started by the surge in Tesla shares beyond speculative zeal,” he tweeted.

“Watch out Tesla believers,” he added in a follow-up tweet.

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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the ‘3rd wave’ firms that are leading the next round of tech disruption

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Goldman Sachs is making it easier to plug its services into other tech platforms like Amazon or Apple’s iPhone, and an industry consultant says it shows how the bank is leading a `fundamental change’ in retail banking.

  • Goldman Sachs is in talks with Amazon about providing small-business loans to merchants who sell products on Amazon’s retail platform, according to a person with knowledge of them. The talks were first reported by the Financial Times on Monday. 
  • The partnership would be the second inked by Goldman with a large technology firm that can provide the scale and distribution for Goldman’s products that it can’t get itself. 
  • The partnership, and another one with Apple, is an example of banking-as-a-service, though some insiders have taken to calling it Goldman Sachs-as-a-service. 
  • “If Goldman can pull off an embedded banking deal somewhere else besides Apple Pay … that’s a leading indicator of a fundamental change in retail banking,” according to independent consultant Richard Crone.

Goldman Sachs is close to inking a second high-profile deal to offer banking services in partnership with a large tech company, and it’s a sign of what may be a fundamental change in retail banking. 

Goldman is in talks with Amazon to offer small business loans to merchants who sell products on Amazon, according to a person with knowledge of the discussion. The Financial Times first reported the talks on Monday. Goldman’s small business loans may feature the bank’s name and begin as soon as March, the newspaper said. 

A spokesman for the bank declined to comment. 

If the deal is signed, it would become the second Big Tech partnership for Goldman Sachs after it launched a credit card last year with Apple last year. Goldman CEO David Solomon has called the Apple Card the most successful credit card launch of all time, without providing details to back up the claim. 

But it would also be a sign of something much more ambitious: Goldman Sachs moving quickly and aggressively to leverage those characteristics that make it uniquely a bank, with a license that allows it to offer banking products and a balance sheet where it can fund loans cheaply being just two prominent examples. 

The company has been sinking hundreds of millions of dollars into building out its technology capabilities, including APIs (application programming interfaces), to make it as easy and seamless to plug such services into the technology platforms of others, whether that’s Apple’s mobile devices, as with the Apple Card, or Amazon’s retail platform. 

At an investor day last week, execs referred to it as banking-as-a-service, but some insiders have taken to calling it Goldman Sachs-as-a-service. 

Stephanie Cohen, Goldman’s chief strategy officer, appeared on stage last week at the bank’s investor day alongside Marco Argenti, the co-chief information officer who recently joined the bank after several years as a senior exec at Amazon Web Services.

Cohen said the bank is looking for ways to use technology to embed the types of things that Goldman can do well, such as risk management, or loan underwriting.

Cohen cited the Apple Card, which is a Goldman-designed product delivered on Apple’s devices, as one such example. 

“That last capability is the consumer version of our platform strategy,” Cohen said. “It allows us to take products and services that we build for our own clients and then give it to other clients so that they can embed financial products into their ecosystem. This strategy will drive top-line growth, and it will create scale efficiencies.”

Goldman isn’t the only large bank that’s working with Big Tech companies. In November, Google announced a partnership with Citigroup to provide checking accounts to the tech firm’s customers. 

And yet, Goldman is probably doing it better than anyone because it has developed a suite of APIs that it can take off the shelf and plug into other platforms, according to Richard Crone, an independent consultant. 

“Goldman Sachs, when they write the history books, will be noted as the one who invented or perfected embedded banking, where you embed your financial services through the user interface, or at the edge, of someone else’s network,” Crone said. “If Goldman can get this right with Amazon, I would expect them to go to Facebook next or any other online platform of substance that provides them a large distribution channel.”

Goldman is leaning on many of the lessons it learned in its partnership with Apple, known as an incredibly demanding partner, Crone said. Most notably, the ability to offer instant issuance to a set of customers that have already been pre-validated, multi-factor authenticated, Know-Your-Customer credentialed by the large tech firms. 

“They already know the customer, but they have met the regulatory requirement in advance before they hand it over,” he said. 

The product will likely look similar to what small merchants are getting from Square Cash or PayPal Working Capital. 

Goldman has bigger ambitions. At last week’s investor day, the bank presented a slide that showed a product called Marcus Pay, which talked about point-of-sale solutions for merchants based on its digital consumer bank. 

This is just another example of how embedded banking is here to stay, which can be hard for a lot of bankers to understand because they want to service customers through their own app, Crone said.

But “no financial institution can reach the scale that’s required to compete electronically” with the large platforms if they only do it through their own app, he said.  

“If Goldman can pull off an embedded banking deal somewhere else besides Apple Pay, or if Citigroup can pull off Google Cache, that’s a leading indicator of a fundamental change in retail banking.”

See also: Goldman Sachs just unveiled hundreds of slides laying out the future of the company. Here are the 10 crucial slides that show how it plans to transform into a bank for everyone.

See also: Inside Goldman Sachs’ first investor day, where avocado toast and crab apples were served with tech talk, 3-year plans, and a surprising trading mea culpa

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Facebook stops plans to put ads on WhatsApp

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In 2019, it was announced at the Facebook Marketing Summit that advertisements would be appearing in WhatsApp Status. Recently, Facebook disclosed it has quit plans to start posting ads on WhatsApp.

WhatsApp will bring Stories Ads in its status product in 2020. #FMS19 pic.twitter.com/OI3TWMmfKj

— Olivier Ponteville (@Olivier_Ptv) May 21, 2019

According to a report by The Wall Street Journal, the team that was set up to work on integrating ads to the app were dissolved and as a result, their work was “deleted from WhatsApp’s code”. Though the app up to this time is ad-free, Facebook still plans to harmonise ads into WhatsApp’s Status feature.

The report further said that Facebooks’s plan to monetise WhatsApp is part of what made WhatsApp co-founder Jan Koum exit the company in 2018 and closely followed months after by his fellow co-founder Brian Acton.

Also, the drawback in putting ads on WhatsApp has led Facebook to alternatively focus on WhatsApp features that will “allow businesses to communicate with customers and organize those contacts.”

Acquired for $22 billion (₦7,974,956,000) in 2014 by Facebook, WhatsApp is one of the most used social media platforms in the world and in Nigeria especially, according to a report. And with new features been added to the Facebook-owned apps, it may seem that the company is unrelenting in making its platform indispensable.

It can be recalled that in 2019, Facebook introduced ‘catalogs’ to its WhatsApp Business app and also Facebook Pay to the market. Although, these features are yet to be available in the African market.

Presuming that ads on WhatsApp would be ultimately launched, the WhatsApp status feature which was copied from Snapchat stories might be carrying ads in between the status just like Instagram stories.

On a brighter note, ads in between WhatsApp stories would be of an advantage to small business owners who already use their WhatsApp status as a tool to market their services. Additionally, these businesses could also create ads to target their prospective customers on the app.

It would also be another huge source of revenue for Facebook as WhatsApp is yet to be monetised while Facebook and Instagram are already generating revenue for the company via customer replies through its new WhatsApp Business API, Facebook Marketplace, ads placement on Instagram and so on.

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Woman in Tech | I write about social media and internet culture | Photography enthusiast.

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Sotitobire: 37-year-old man nabbed over Ondo missing child from Ondo church – Daily Post Nigeria

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The Ondo State Police Command has confirmed the arrest of a 37-year-old man identified as Elike Chubuzor, over the disappearance of one-year-old Gold Kolawole from an Ondo church.

According to the state’s Police Public Relations Officer, PPRO, CSP Femi Joseph, who disclosed this on Friday, said that the self-acclaimed abductor is currently in the custody of the police.

Speaking on the arrest of the suspect, the PPRO emphasized that Chubuzor, who claimed to have the baby was arrested by police detectives in Port-Harcourt.

Recall that Gold went missing at Sotitobire Praising Chapel, Solagbade street, Oshinle quarters, Akure, the Ondo State capital, on the 10th of November, 2019 during a Sunday service.

The situation has led to the arrest and subsequent remand of the founder of the church, Prophet Alfa Babatunde and six other church members at a Correctional Facility.

It was gathered that Chibuzor, who claimed to be ‘Adamu’ had allegedly confessed that two popular clergymen commissioned him to kidnap the missing boy to blackmail Prophet Alfa.

Chibuzor was reportedly tracked down in Port Harcourt, Rivers State after fleeing Imo State following a text message he sent to the phone of Prophet Babatunde.

Counsel of the Sotitobire founder, Olusola Oke, who disclosed also confirmed Chiba Zoe’s arrest, said he has thrown up hiding revelations over the incident.

Oke said, “On December 14, 2019, Prophet Alfa Babatunde received a text message on his phone from one Adamu who claimed to have abducted Gold Kolawole from the premises of Sotitobire church for the purpose of setting the prophet up.

“It was based on the text message that detectives from the state police command tracked the phone line and traced the sender to Imo State, but he was eventually nabbed in Port Harcourt, Rivers state where he flees to. He is currently helping the police on their investigation on the missing boy.”

“Let me also tell you this very important message; the police are closed on the perpetrators of this drastic act, and I can assure you that the outcome will shock everyone, and it will shake the whole structure of this city to it foundation. That is when we will all appreciate the good job done by the police and not the fire brigade approach of men of DSS.

“There are many questions begging for answers by men of the DSS; one of them is why have they refused to arrest and interrogate the father of the missing boy, Mr. Kolawole, especially on how he came about the balance of sixteen million naira found in his account, and what happened to the money, thereafter? I promise you, we are going to unravel all these puzzles very soon.

“It beats my imagination that this kind of wanton killings of innocent souls, including a police sergeant on lawful duty, and setting ablaze the auditorium, several other buildings, cars and other properties belonging to Prophet Alfa Babatunde and Sotitobire Praising Centre, all because of the missing one year old boy; It’s only pointing to one fact that this is a hi-tech conspiracy against the man of God from several sources in politics, from higher temples of God, security agents and a section of the media.”

Oke, however, appealed to the people of the state to keep their peace and allow the law enforcement agents to conclude their investigations on the matter, adding that the outcome will surely take many by surprise, while the innocent or otherwise of the man of God would be proven beyond reasonable doubt.

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Facebook keeps policy protecting political ads | ABS-CBN News

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Facebook logos are seen on a screen in this picture illustration taken Dec. 2, 2019. Johanna Geron, Reuters/file

SAN FRANCISCO — Defying pressure from Congress, Facebook said on Thursday that it would continue to allow political campaigns to use the site to target advertisements to particular slices of the electorate and that it would not police the truthfulness of the messages sent out.

The stance put Facebook, the most important digital platform for political ads, at odds with some of the other large tech companies, which have begun to put new limits on political ads.

Facebook’s decision, telegraphed in recent months by executives, is likely to harden criticism of the company heading into this year’s presidential election.

Political advertising cuts to the heart of Facebook’s outsize role in society, and the company has found itself squeezed between liberal critics, who want it to do a better job of policing its various social media platforms, and conservatives, who say their views are being unfairly muzzled.

The issue has raised important questions regarding how heavy a hand technology companies like Facebook — which also owns Instagram and the messaging app WhatsApp — and Google should exert when deciding what types of political content they will and will not permit.

By maintaining a status quo, Facebook executives are essentially saying they are doing the best they can without government guidance and see little benefit to the company or the public in changing.

In a blog post, a company official echoed Facebook’s earlier calls for lawmakers to set firm rules.

“In the absence of regulation, Facebook and other companies are left to design their own policies,” Rob Leathern, Facebook’s director of product management overseeing the advertising integrity division, said in the post. “We have based ours on the principle that people should be able to hear from those who wish to lead them, warts and all, and that what they say should be scrutinized and debated in public.”

Other social media companies have decided otherwise, and some had hoped Facebook would quietly follow their lead. In late October, Twitter’s chief executive, Jack Dorsey, banned all political advertising from his network, citing the challenges that novel digital systems present to civic discourse. Google quickly followed suit with limits on political ads across some of its properties, though narrower in scope.

Reaction to Facebook’s policy broke down largely along party lines.

The Trump campaign, which has been highly critical of any attempts by technology companies to regulate political advertising and has already spent more than $27 million on the platform, largely supported Facebook’s decision not to interfere in targeting ads or to set fact-checking standards.

“Our ads are always accurate so it’s good that Facebook won’t limit political messages because it encourages more Americans to be involved in the process,” said Tim Murtaugh, a spokesman for the Trump campaign. “This is much better than the approaches from Twitter and Google, which will lead to voter suppression.”

Democratic presidential candidates and outside groups decried the decision.

“Facebook is paying for its own glowing fake news coverage, so it’s not surprising they’re standing their ground on letting political figures lie to you,” Sen. Elizabeth Warren said on Twitter.

Warren, who has been among the most critical of Facebook and regularly calls for major tech companies to be broken up, reiterated her stance that the social media company should face tougher policies.

The Biden campaign was similarly critical. The campaign has confronted Facebook over an ad run by President Donald Trump’s campaign that attacked Joe Biden’s record on Ukraine.

“Donald Trump’s campaign can (and will) still lie in political ads,” Bill Russo, the deputy communications director for Biden, said in a statement. “Facebook can (and will) still profit off it. Today’s announcement is more window dressing around their decision to allow paid misinformation.”

But many Democratic groups willing to criticize Facebook had to walk a fine line; they have pushed for more regulation when it comes to fact-checking political ads, but they have been adamantly opposed to any changes to the ad-targeting features.

On Thursday, some Democratic outside groups welcomed Facebook’s decision not to limit micro-targeting, but still thought the policy fell short.

“These changes read to us mostly as a cover for not making the change that is most vital: ensuring politicians are not allowed to use Facebook as a tool to lie to and manipulate voters,” said Madeline Kriger, who oversees digital ad buying at Priorities USA, a Democratic super PAC.

Other groups, however, said Facebook had been more thoughtful about political ads than its industry peers.

“Facebook opted against limiting ad targeting, because doing so would have unnecessarily restricted a valuable tool that campaigns of all sizes rely on for fundraising, registering voters, building crowds and organizing volunteers,” said Tara McGowan, chief executive of Acronym, a non-profit group that works on voter organization and progressive causes.

Facebook has played down the business opportunity in political ads, saying the vast majority of its revenue came from commercial, not political, ads. But lawmakers have noted that Facebook ads could be a focal point of Trump’s campaign as well as those of top Democrats.

Facebook’s hands-off ad policy has already allowed for misleading advertisements. In October, a Facebook ad from the Trump campaign made false accusations about Biden and his son, Hunter Biden. The ad quickly went viral and was viewed by millions. After the Biden campaign asked Facebook to take down the ad, the company refused.

“Our approach is grounded in Facebook’s fundamental belief in free expression, respect for the democratic process and the belief that, in mature democracies with a free press, political speech is already arguably the most scrutinized speech there is,” Facebook’s head of global elections policy, Katie Harbath, wrote in the letter to the Biden campaign.

In an attempt to provoke Facebook, Warren’s presidential campaign ran an ad falsely claiming that the company’s chief executive, Mark Zuckerberg, was backing the reelection of Trump. Facebook did not take the ad down.

Criticism seemed to stiffen Zuckerberg’s resolve. Company officials said he and Sheryl Sandberg, Facebook’s president, had ultimately made the decision to stand firm.

In a strongly worded speech at Georgetown University in October, Zuckerberg said he believed in the power of unfettered speech, including in paid advertising, and did not want to be in the position to police what politicians could and could not say to constituents. Facebook’s users, he said, should be allowed to make those decisions for themselves.

“People having the power to express themselves at scale is a new kind of force in the world — a Fifth Estate alongside the other power structures of society,” he said.

Facebook officials have repeatedly said significant changes to its rules for political or issue ads could harm the ability of smaller, less well-funded organizations to raise money and organize across the network.

Instead of overhauling its policies, Facebook has made small tweaks. Leathern said Facebook would add greater transparency features to its library of political advertising in the coming months, a resource for journalists and outside researchers to scrutinize the types of ads run by the campaigns.

Facebook also will add a feature that allows users to see fewer campaign and political issue ads in their news feeds, something the company has said many users have requested.

There was considerable debate inside Facebook about whether it should change. Late last year, hundreds of employees supported an internal memo that called on Zuckerberg to limit the abilities of Facebook’s political advertising products.

On Dec. 30, Andrew Bosworth, the head of Facebook’s virtual and augmented reality division, wrote on his internal Facebook page that, as a liberal, he found himself wanting to use the social network’s powerful platform against Trump.

But Bosworth said that even though keeping the current policies in place “very well may lead to” Trump’s reelection, it was the right decision. Dozens of Facebook employees pushed back on Bosworth’s conclusions, arguing in the comments section below his post that politicians should be held to the same standard that applies to other Facebook users.

For now, Facebook appears willing to risk disinformation in support of unfettered speech.

“Ultimately, we don’t think decisions about political ads should be made by private companies,” Leathern said. “Frankly, we believe the sooner Facebook and other companies are subject to democratically accountable rules on this, the better.”

2020 The New York Times Company

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19 of the Best Tech Companies to Work in the U.S. in 2020

19 of the Best Tech Companies to Work in the U.S. in 2020

If you’re looking for a job in the technology sector, you might want to look at these companies.

By 
Trevor English

Glassdoor, one of the world’s top employment rating websites, recently released its annual list of top places to work for 2020. For those of you who don’t know, Glassdoor is a site where you can go and rate your employer, see what other people are getting for financial benefits, and basically learn as much as you’d like to about a company’s culture without actually working there.

All of this data is user-submitted, and it gives the site access to a high degree of employee sentiment for companies across the U.S. and the world. Their list of the best places to work for 2020 is based on user-submitted reviews in the previous year. It takes into account compensation data, culture data, and virtually anything a user provides to create a holistic ranking structure.

While the list includes companies from any industry in the U.S., if you weed out companies only in the tech space, you’re left with the best technology companies to work for in the U.S. Let’s take a look and see just who those companies are. 

19. Yardi Systems

Top Company Ranking: 53

Rating (stars out of 5): 4.3

Industry: Computer Hardware & Software

What employees say: “This company truly cares about its employees, everything from great benefits and perks to encouraging a wonderful work/life/fun balance.”

18. CDW

Rating (stars out of 5): 4.3

Industry: IT Services

What employees say: “Working with CDW has provided many opportunities to expand my knowledge and skillset while working with phenomenal co-workers.”

17. SAP

Rating (stars out of 5): 4.3

Industry: Computer Hardware & Software

What employees say: “Incredibly well organized, great communication, good pay, and very professional colleagues.”

16. AppFolio

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software

What employees say: “Great work-life balance, friendly management, fantastic training, dog-friendly, fun culture.”

15. Adobe

Top Company Ranking: 39

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software

What employees say: “The workplace is nice – the gym is top-notch, the cafeteria is great, and other amenities which make it an enjoyable work environment.”

14. VMWare – Part of Dell Technologies

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software

What employees say: “Work/Life balance is good, and people are smart and supportive.”

13. Kronos Incorporated

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software

What employees say: “Amazing organization and overall management structure with great benefits and an incredible work-life balance.”

12. Salesforce

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software 

What employees say: “The people are great, the culture is amazing, and the workspaces have everything you could ever need!” 

Rating (stars out of 5): 4.4

Industry: Internet

What employees say: “Employees are truly empowered, respected, and supported. Lots of opportunities to learn from smart, engaged people.”

10. Compass

Top Company Ranking: 32

Rating (stars out of 5): 4.4

Industry: Enterprise Software & Network Solutions

What employees say: “You are encouraged to participate and share your opinions and experience to help continue to make Compass the pinnacle of the industry.”

9. Facebook

Rating (stars out of 5): 4.4

What employees say: “No day is ever alike, and I get to tackle challenging problems surrounded by the best and brightest minds.”

8. Microsoft

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software 

What employees say: “I love the culture and the people here. We are always learning and have a can-do attitude.”

7. Nvidia

Top Company Ranking: 20

Rating (stars out of 5): 4.4

Industry: Computer Hardware & Software

What employees say: “Amazing culture, great work-life balance, and a strong drive to succeed in every area makes NVIDIA one of the best places I’ve ever worked.”

6. MathWorks

Rating (stars out of 5): 4.5

Industry: Computer Hardware & Software

What employees say: “They care about training and ensure that everyone is treated well with amazing little benefits from fruits in the morning to free Wednesday breakfast.”

5. LinkedIn

Top Company Ranking: 12

Rating (stars out of 5): 4.5

Industry: Subsidiary or Business Segment

What employees say: “Super invested in employee development, great work/life balance, great benefits for working mothers and maternity/paternity leave.”

4. Google

Rating (stars out of 5): 4.5

Industry: Internet

What employees say: “Work/life balance, benefits, compensation, autonomy, and the quality of your co-workers are unmatched.”

3. Ultimate Software

Rating (stars out of 5): 4.5

Industry: Enterprise Software & Network Solutions

What employees say: “The unlimited PTO, amazing benefits, and feeling like part of a big family are my favorite parts about Ultimate.” 

2. DocuSign

Top Company Ranking: 3

Rating (stars out of 5): 4.6

Industry: Computer Hardware & Software

What employees say: “They treat their employees fairly, are dedicated to the success of their employees, have great work-life balance, and very responsive management.”

1. HubSpot

Rating (stars out of 5): 4.6

Industry: Computer Hardware & Software

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Meet the Nigerian developer that runs free online digital skills training on Facebook and Slack

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Martha (not real name) had no choice but to stay with her sick mum in hospital, but this didn’t mean much until it was clear her stay would run into a year. For Martha, it meant placing her life on hold as she wouldn’t have time to do anything else.

However, this changed when she came across Tech Skills Hack (TSH), an open Facebook group where people get free training on diverse digital skills ranging from graphic design to data analysis to content creation.

Martha joined the group, attended training religiously, and soon discovered she could become a certified digital skills expert running her personal creative agency.

Iniobong Udoh, the brain behind TSH, would be overwhelmed by a sense of fulfillment hearing this testimonial because it is clearly fulfilling the startup’s mission.

“Tech Skills Hack is a platform dedicated to equipping Nigerians with the in-demand and futuristic digital skills to curb unemployment and help businesses scale free of charge,” she says.

Demystifying digital literacy

There is a belief that people in the tech space are a bunch of code-writing geeks. However, Udoh thinks it’s only a myth.

“The tech ecosystem is a large community that includes all digital skills, ranging from graphic design, data analysis, content creation, that has nothing to do with writing code.”

Her mission was clear; to bridge the gap that exists between employers of labour and applicants without basic skills. And she does this by compiling curated digital skills resources and sharing on the various training platforms used.

To her, “Digital skills literacy means possessing skills you need to live, learn, and work in a society where communication and access to information is [sic] increasing through digital technologies like the online platforms, social media, and mobile devices.”

If anything, Udoh’s experience as a Google Certified Android developer and a certified UX expert came in handy as she brought the startup to life in February 2019 — a year after she got the idea but was held back by funds to either rent a hub or acquire equipment for physical training.

“I had to use the available platform and it was Facebook for me. Aside from programming, we train undergraduates on basic or foundational skills like Excel, PowerPoint, Canva, Google Sheets, and social media usage.”

TSH’s offering is twofold: solving the challenge of affordable training and acquiring the basic equipment to practise – a laptop. The aim is to assist young people to acquire relevant digital skill sets via their smartphones at no fee at all. Unfortunately, it wasn’t an encouraging first outing for her.

“I felt bad when we sent out the ad inviting people to learn and the response wasn’t impressive as thought [sic], but 50 people responding to our ad was fair.”

To build trust, Udoh made the platform open for interested individuals to join instead of adding people randomly. With time, the platform would have a good number of open-minded, willing, consistent, and determined members.

Apart from Udoh who is the founder, TSH’s team includes Nzaki Ekere who doubles as the CTO and in-house developer who takes web development classes and Anthony Eyo as the digital marketer. Extra help for on-site training also comes from volunteers, some of who have gone through training on the platform.

A social enterprise

“Tech Skills Hack is a non-profit venture. We’ve been running this for 9 months and it’s been self-funded. It is not too capital intensive because I use a free platform (Facebook) and get free volunteers. I get to search top-notch courses from organisations like Google, Udemy, and Coursera for free, so we don’t pay for these courses, except with our time, because I need to go through every course before sharing them on our platform,” Udoh explains.

With no change of business model in view, Udoh affirms that TSH will retain its non-profit social enterprise status for the next two years, but it will need as much help as it can get.

“Our aim is to equip every Nigerian with a digital skill at no cost or low cost, and we would appreciate support from people to achieve that.”

In over 9 months of operation, the startup boasts of more than 1000 users on both Facebook and Slack. It has also assisted 30 budding Small and Medium-scale Enterprises (SMEs) to design logos and business cards for free. Lately, it conducted two free offline trainings in two Nigeria cities, Lagos and Uyo, in partnership with a Ghanaian tech hub, iSpace; and Directorate of Microfinance and Enterprise Development, Akwa Ibom State, respectively.

At a point when incorporating offline training is needed because online classes do not fully capture the startup addressable market, the founder admits that TSH is greatly in need of funds.

“We would appreciate financial and hub support. We need founders to allow us to use their hubs and gadgets for our trainings. We’ll also love free publicity so that more people can hear about what we are doing and get to join.”

Undeterred by challenges

Apart from funding, Udoh names trust issues as another challenge some people have because the belief is that with free trainings, the quality of content is usually bad.

She said they may not be able to change this perception, but the reviews, testimonials, and feedback received from students, who have gone ahead to get their certifications and even begin their own creative agencies, are enough motivation for the TSH team.

“I’ve lost count of the reviews and tags we get once a student learns a skill. Not only the testimonials but students using the skills they’ve learnt to better their lives and also pass down this knowledge to others is also what we use to measure our success and this we’ve been able to achieve in a short span of our existence.”

With another physical training program in the offing, the team is presently working on integrating an eLearning site with better and friendly learning features to further expand coverage.

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Scammers target Kiwis: Annabel Langbein the latest focus for Facebook fakers | Stuff.co.nz

person

Chef Annabel Langbein is the latest target of an online scam, which has used the names and faces of at least half a dozen famous Kiwis.

Foreign scam artists have been exploiting Facebook’s lax policy on adverts for some time, in a bid to rip off New Zealanders.

Langbein said scammers had made fake news articles, which said she was quitting her job because of a new skincare company. 

“It’s all fake. The very worst thing is that my followers and supporters are being conned and losing money and I am powerless to stop it,” she said on Instagram.

Facebook does not fact check the adverts it promotes, which has meant peddlers of fake news, conspiracies and scams have been able to reach users on the platform.

But a spokesman said it had removed and blocked pages that featured fake celebrity endorsements from New Zealanders.

“We do not allow these scams on our services and we take swift action to remove them as soon as we become aware. These scammers are well resourced and use sophisticated cloaking technology to mask content,” he said.

Tech companies such as Facebook and Google collect data about their users, including where they live and what their interests are. Companies, scam artists, governments and lobbyists can then pay the tech giants to target anyone in the world.

For more than a year, a group of scammers have been targeting New Zealand celebrities and forging endorsements for adverts such as skincare and bitcoin.

A Facebook spokesman said these scammers worked across the internet, but the company was investing in automated technology to better detect false news and endorsements. He said the company employed more than 35,000 people to work in its security team, which dealt with these issues.

” The damage and cost to our business far outweighs any ad spend or benefit as this kind of misleading content,” he said.

CHRIS MCKEEN/STUFF
Annabel Langbein is warning her followers that scam artists are faking stories about her.

These scammers often create fake news websites, made to look like legitimate news sites such as the BBC, Stuff and NZ Herald, to publish fake stories about how one of the celebrities is “quitting their job” after discovering the wonders of a get rich quick scheme.

 it was launching a reporting tool in New Zealand to combat these “celebrtiy-bait ads”.

The tool was first rolled out in the UK, after television presenter Martin Lewis launched legal action against Facebook when his name was used in a similar scam. He dropped the lawsuit when Facebook promised to dedicate resource to anti-scam initiatives. 

Facebook’s director of product management, Rob Leathern, told Stuff last month that the company did take legal action to stop scam artists when their posts were reported.

“It’s kind of a cat and mouse game we’re constantly playing,” he said.

Facebook is asking Kiwis to report click bait advertisements on the platform.

The company has faced mounting pressure to stop the spread of fake news, scams and conspiracies.

Actor Sacha Baron Cohen made headlines last month, calling social media companies “a sewer of bigotry and vile conspiracy theories”.

“Zuckerberg said that social media companies should live up to their responsibilities,” he said.

“But he’s totally silent about what should happen when they don’t. By now, it’s pretty clear they cannot be trusted to regulate themselves.”

Facebook, however, has been clear that it would delete scam accounts and block their accounts once it was notified.

 “Often, we’ll go beyond rejecting the ad; we’ll remove the ability of the accounts and people behind them to advertise with us in the future,” Leathern said.

Chef Nadia Lim, journalist John Campbell, Prime Minister Jacinda Ardern, broadcasters Mike Hosking and Hayley Holt have also been featured in similar scams.

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FRSC Clarifies its Stand on Use of Google Maps While Driving After Nigerians React on Twitter – Technext

cell phone person

Reactions broke out on Twitter after the sector commander of the Federal Road Safety Corps (FRSC), Mr Ayuba Gora, was quoted to have said that using Google maps while driving was a serious traffic offence.

Gora made the statement at the 2019 Ember Months Campaign which was held in Abuja by the Lugbe Unit on Wednesday.

The campaign was made with the aim of sensitizing people about the need to drive safely and be conscious of other motorists during the busy and festive month remaining in the year.

Haba. So what about in car navigation? Must we advertise our ignorance in this country?
FRSC has become an MDA in government that does the opposite of their name.

— Odjugo E C (@EretareCO)

This headline is really embarrassing and shameful… You see why some westerners still think we swing around through trees? Headlines like this have far reaching implications

— novo abere (@novorious)

This is a country that is about to launch 5G network and claims to be the first to do so in Africa. The statement by the FRSC official shows how backward Nigerians think. It’s so sad that we still think the use of tech to aid driving is an offence. Are we ready for the new age?

— OjoOluwa Ibiloye-Ohjay (@OjooluwaIbiloye)

Nigerians’ reactions to the FRSC official’s message expressed their disappointment in the disposition of Mr Ayuba Gora and therefore the FRSC to the use of technology in navigation.

FRSC Clarifies

In announcements made on its official twitter account, the FRSC through its Public Education Officer, Bisi Kazeem, said that its spokesperson must have been misquoted and misinterpreted.

“The Corps wishes to state that the Sector Commander must have been misquoted and his statement outrightly misrepresented because the Federal Road Safety Corps as a technology driven organisation is not and has never stood against the use of google map by motorists.”

In the twitter address, Kazeem went on to re-emphasize the stand of the FRSC on the use of mobile phones while driving.

She said motorists could be distracted while driving if they were handling their mobiles for any reason which include setting a location on their google map. Such distractions cause accidents on the road, hence FRSC’s warnings on the use of mobile phones while driving.

“We therefore call on all motorists who intend to deploy the use of google map on their phone especially during the festive season when traffic density is high, to activate such before setting the vehicle in motion so as to ensure 100 percent concentration on the wheels.”

From FRSC’s clarification, use of Google maps while driving is not an offence, however, it should be set before the journey commences.

As an aid, while driving, mobile phones can be held by the car phone holder and the voice control activated so directions can be read out from the phone.

In spite of the reactions to Mr Ayuba’s misinterpreted statement, the FRSC campaign holds goodwill towards Nigerians and the safety measures being emphasized should not be ignored, especially regarding mobile phone use.

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Week in Review: Apple’s rebirth as a content company has a forgettable debut – TechCrunch

teddy bear

Hey everyone. Thank you for welcoming me into you inboxes yet again.

Hope you all had a wonderful Thanksgiving. After dodging your inboxes for a couple weeks as I ventured off to China for a TechCrunch event in Shenzhen, I am rested up and ready to go.

If you’re reading this on the TechCrunch site, you can get this in your inbox here, and follow my tweets here.

The big story

When Apple announced details on their three new subscription products (Apple TV+, Apple Arcade and Apple News+ — all of which are now live) back in March, the headlines that followed all described accurately how Apple’s business was increasingly shifting away from hardware towards services and how the future of the company may lie in these subscription businesses.

I largely accepted those headlines as fact, but one thing I have been thinking an awful lot about this week is how much I have loved Disney+ since signing up for an account and just how little I have thought about Apple TV+ despite signing up for both at their launches.

It’s admittedly not the fairest of comparisons, Disney has decades of classic content behind them while Apple is pushing out weekly updates to a few mostly meh TV shows. But no one was begging Apple to get into television. The company’s desires to diversify and own subscriptions that consumers have on their Apple devices certainly make sense for them, but their strategy of making that play without the help of any beloved series before them seems to have been a big miscalculation.

At TechCrunch, we write an awful lot about acquisitions worth hundreds of million, if not billions, of dollars. Some of the acquisitions that have intrigued me the most have been in the content space. Streaming networks are plunking down historic sums on series like Seinfeld, Friends and The Big Bang Theory. The buyers have differed throughout these deals, but they have never been Apple.

That’s because Apple isn’t bidding on history, they’re trying to nab directors and actors creating the series that will be the next hits. And while that sounds very Apple, it also sounds like a product that’s an awfully big gamble to the average consumer looking to try out a new streaming service. Why pick the service that’s starting from a standstill? Apple has ordered plenty of series and I have few doubts that at least one of the shows they plan to introduce is going to be a hit, but there isn’t much in the way of an early favorite yet and for subscribers that haven’t found “the one” yet, there’s very little reason to stick around.

Other networks with a half-dozen major series can afford a few flops because there’s a library of classics that’s filling up the dead space. Apple’s strategy is bold but is going to lead to awfully high churn among consumers that won’t be as forgiving of bad bets. This is an issue that’s sure to become less pronounced over time, but I would bet there will be quite a few consumers unsubscribing in the mean time leaving those on freebie subscriptions responsible for gauging which new shows are top notch.

Apple has also made the weird move of not housing their content inside an app so much as the Apple TV’s alternative UI inside the TV app. One one hand, this makes the lack of content less visible, but it also pushes all of the original series to the back of your mind. If you’re a Netflix user who has been subconsciously trained never to use the TV app on your Apple TV because none of their content is housed there, you’re really left forgetting about TV+ shows entirely when using the traditional app layout.

We haven’t received any super early numbers on Apple News+, Apple Arcade or Apple TV+, but none of the three appears to have made the sizable cultural splashes in their debuts that were hoped for at launch. Apple’s biggest bet of the three was undoubtedly TV+ and while their first series haven’t seemed to drop any jaws, what’s more concerning is whether the fundamentals of the service have been arranged so that unsatisfied subscribers feel any need to stick around.

Send me feedback
on Twitter @lucasmtny or email
lucas@techcrunch.com

On to the rest of the week’s news.

Image via AMY OSBORNE/AFP/Getty Images

Trends of the week

Here are a few big news items from big companies, with green links to all the sweet, sweet added context:

GAFA Gaffes

How did the top tech companies screw up this week? This clearly needs its own section, in order of badness:

Disrupt Berlin

It’s hard to believe it’s already that time of the year again, but we just announced the agenda for Disrupt Berlin and we’ve got some all-stars making their way to the stage. I’ll be there this year, get some tickets and come say hey!

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