Comparing Alibaba vs Amazon

Ponderables

 

A Primer on the Financial System

The Bank of England has produced a very helpful pamphlet entitled Your Money and the Financial System, which explains how the financial works, how it is regulated by the Bank, and the roles of the Bank's Financial Policy Committee and the Prudential Regulatory Authority. This pamphlet is a useful primer for students and anyone with an interest in the workings of the UK financial system.

Source: www.theguardian.com

UBER Assessed (Posted on 29 June 2014)

Now the shit stirs!!!
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Uber Technologies Inc is known as Everyone’s Private Driver. Uber operates an on-demand car service used all over the world. With the touch of a button from your phone, you can experience your own private driver.

Working as an Uber driver is one of the buzziest careers in America. With uberX, essentially anyone with a car can sign up to be a driver. And Uber makes it pretty easy to do. The first step is to head on over to this website. If you’re at least 21 years old, have a license, personal auto insurance, and a four-door car in good condition, you can sign up to be a driver. The next step is passing Uber’s background check. You’ll need to provide the company with standard information like your address, driver’s license number, and social security number. If you pass the background test, Uber requires you to take an online training course that covers standard operating procedures, how to get 5 stars, and what not to do. Upon completing the course, Uber will send you a phone. From start to finish, the registration process takes about two weeks.

Opinion: UBER just went for a fund raising among PE funds at a valuation of $17bn, yes thats amazing for a relatively simple app. UBER is now a big buzz not just in the US but even in Malaysia. This is a disruptive technology. The buzz is dying down slightly in the US because the real effective earnings of UBER drivers were not so hot. Available data showed that they gross around $15 an hour. But accounting for tolls, Uber’s 20% cut, gas, car insurance, vehicle financing, and self employment taxes, the driver really only made $54.50 for 12 hours of driving. So that’s just $4.54 an hour — far below minimum wage. 

Its still a good alternative to get that UBER spot for part timers or people who like to work when they want/need to. That's in developed nations.

 

UBER will be a lot more disruptive in developing economies with near pathetic taxi service, such as Malaysia and Indonesia. What UBER provides more readily: speed, clarity, safety, cleanliness, a workable rating system that truly incentivise the drivers, and a pay scale that is more than decent. UBER is akin to a private drivers' service that is a lot cheaper than those "private car bookings" from hotels.

The rise and rise of taxi apps in Malaysia is only reflective of apps helping the taxi system to "be more like UBER". Its a long slog but methinks in many countries the taxi drivers will be up in arms against UBER and will protest and seek the government's help to turn the tide.

What is UBER really in Malaysia... it basically legitimises the private taxi touts and louts at airports and malls. Unfortunately owners of taxi licenses in Malaysia are well connected politically, and soon we will see a clampdown on UBER.

 

As an open country that is so called MSC, MDC ... centric ... we must be open to even disruptive technologies. Yes, it may disrupt and even change the current status quo, but it is notching efficiencies and delivering a service that is "unserviced", meeting a demand that is not met, or creating new demand out of the blue. It is not all cannabalism of an existing industry. Existing taxi drivers would do well to try and be an UBER driver now. All the while, the taxi license owners will be knocking on doors of powerful politicians and crying wolf.

Top Tourist Scams

As the world gets to be more mobile with travel becoming more and more affordable, we need to be careful of the usual modus operandi by street smart gangs.

The “Found” Ring: An innocent-looking person picks up a ring on the ground in front of you and asks if you dropped it. When you say no, the person examines the ring more closely, then shows you a mark “proving” that it’s pure gold. He offers to sell it to you for a good price — which is several times more than he paid for it before dropping it on the sidewalk.

The “Friendship” Bracelet: A vendor approaches you and aggressively asks if you’ll help him with a “demonstration.” He proceeds to make a friendship bracelet right on your arm. When finished, he asks you to pay a premium for the bracelet he created just for you. And, since you can’t easily take it off on the spot, you feel obliged to pay up. (These sorts of distractions by “salesmen” can also function as a smokescreen for theft — an accomplice is picking your pocket as you try to wriggle away from the pushy vendor.)

Salesman in Distress: A well-spoken, well-dressed gentleman approaches you and explains that he’s a leather jacket salesman, and he needs directions to drive to a nearby landmark. He chats you up (“Oh, really? My wife is from Chicago!”) and soon you’ve made a new friend. That’s when he reaches in his car and pulls out a “designer leather jacket” which he’d like to give to you as a thank you for your helpfulness. Oh, and by the way, his credit card isn’t working, and could you please give him some cash to buy gas? He takes off with the cash, and you later realize that you’ve paid way too much for your new vinyl jacket.

Money Matters

Any time money changes hands, be alert, even when using ATMs. When dealing with the public, keep your cards in your sight, or much easier and safer, pay cash. But even paying with cash can have its challenges.

Slow Count: Cashiers who deal with lots of tourists thrive on the slow count. Even in banks, they’ll count your change back with odd pauses in hopes the rushed tourist will gather up the money early and say “Grazie.”

Switcheroo — You Lose: Be careful when you pay with too large a bill for a small payment. Clearly state the value of the bill as you hand it over. Some cabbies or waiters will pretend to drop a large bill and pick up a hidden small one in order to shortchange a tourist. Get familiar with the currency and check the change you’re given: The valuable €2 coin resembles several coins that are either worthless or worth much less: the 500-lira coin (from Italy’s former currency), Turkey’s 1-lira coin, and Thailand’s 10-baht coin.

Talkative Cashiers: The shop’s cashier seems to be speaking on her phone when you hand her your credit card. But listen closely and you may hear the sound of the phone’s camera shutter, as she takes a picture of your card. It can make you want to pay cash for most purchases, like I do.

Meeting the Locals

The Attractive Flirt: A single male traveler is approached by a gorgeous woman on the street. After chatting for a while, she seductively invites him for a drink at a nearby nightclub. But when the bill arrives, it’s several hundred dollars more than he expected. Only then does he notice the burly bouncers guarding the exits. There are several variations on this scam. Sometimes, the scam artist is disguised as a lost tourist; in other cases, it’s simply a gregarious local person who (seemingly) just wants to show you his city. Either way, be suspicious when invited for a drink by someone you just met; if you want to go out together, suggest a bar (or café) of your choosing instead.

Oops! You’re jostled in a crowd as someone spills ketchup or fake pigeon poop on your shirt. The thief offers profuse apologies while dabbing it up — and pawing your pockets. There are variations: Someone drops something, you kindly pick it up, and you lose your wallet. Or, even worse, someone throws a baby into your arms as your pockets are picked. Assume beggars are pickpockets. Treat any commotion (a scuffle breaking out, a beggar in your face) as fake — designed to distract unknowing victims. If an elderly woman falls down an escalator, stand back and guard your valuables, then...carefully...move in to help.

The “Helpful” Local: Thieves posing as concerned locals will warn you to store your wallet safely — and then steal it after they see where you stash it. If someone wants to help you use an ATM, politely refuse (they’re just after your PIN code). Some thieves put out tacks and ambush drivers with their “assistance” in changing the tire. Others hang out at subway ticket machines eager to “help” you, the bewildered tourist, buy tickets with a pile of your quickly disappearing foreign cash. If using a station locker, beware of the “Hood Samaritan” who may have his own key to a locker he’d like you to use. And skip the helping hand from official-looking railroad attendants at the Rome train station. They’ll help you find your seat...then demand a “tip.”

Young Thief Gangs: These are common all over urban southern Europe, especially in the touristy areas of Milan, Florence, and Rome. Groups of boys or girls with big eyes, troubled expressions, and colorful raggedy clothes politely mob the unsuspecting tourist, beggar-style. As their pleading eyes grab yours and they hold up their pathetic message scrawled on cardboard, you’re fooled into thinking that they’re beggars. All the while, your purse or backpack is being expertly rifled. If you’re wearing a money belt and you understand what’s going on here, there’s nothing to fear. In fact, having a street thief’s hand slip slowly into your pocket becomes just one more interesting cultural experience.

Appearances Can Be Deceiving

The sneakiest pickpockets look like well-dressed businesspeople, generally with something official-looking in their hand. Some pose as tourists, with day packs, cameras, and even guidebooks. Don’t be fooled by looks, impressive uniforms, femme fatales, or hard-luck stories.

Fake Charity Petition: You’re at a popular sight when someone thrusts a petition at you. It’s likely a woman or a teen who, often pretending to be deaf, will try to get you to sign an official-looking petition, supposedly in support of a charity (the petition is often in English, which should be a clue). The petitioner then demands a cash donation. At best, anyone who falls for this scam is out some euros; at worst, they’re pickpocketed while distracted by the petitioner.

Phony Police: Two thieves in uniform — posing as “Tourist Police” — stop you on the street, flash their bogus badges, and ask to check your wallet for counterfeit bills or “drug money.” You won’t even notice some bills are missing until after they leave. Never give your wallet to anyone.

Room “Inspectors”: There’s a knock at your door and two men claim to be the hotel’s room inspectors. One waits outside while the other comes in to take a look around. While you’re distracted, the first thief slips in and takes valuables left on a dresser. Don’t let people into your room if you weren’t expecting them. Call down to the hotel desk if “inspectors” suddenly turn up.
The Broken Camera: Everyone is taking pictures of a famous sight, and someone comes up with a camera or cell phone and asks that you take his picture. But the camera or cell phone doesn’t seem to work. When you hand it back, the “tourist” fumbles and drops it on the ground, where it breaks into pieces. He will either ask you to pay for repairs (don’t do it) or lift your wallet while you are bending over to pick up the broken object.

The Stripper: You see a good-looking woman arguing with a street vendor. The vendor accuses her of shoplifting, which she vehemently denies. To prove her innocence, she starts taking off her clothes — very slowly. Once she’s down to her underwear, the vendor apologizes and she leaves. Suddenly all the men in the crowd find out that their wallets have “left,” too, thanks to a team of pickpockets working during the show.

 

Some Nostalgic Childhood Treats & Games (Ahead Of National Day Celebrations) - Our Shared Memories, Our Shared History

Property: Sell-Then-Build (STB) vs Build-Then-Sell (BTS)

It's been a hot discussions ever since many years back. Which one is better? Benefiting developers or house buyers?

To be announced during Budget 2015 ?

When comes to housing, current practice by various developers were the STB method. The key advantage for developer is the 10% deposit (placed by house buyers) can be used to offset a portion of interest being charged by banks for the construction costs. Moreover, it can helps developers to minimize the cash flow problem during construction period, and better still channel the funds to other housing projects. In return, the selling price during launching date might be lower to attract buyers.

However, house buyers are subject to higher risks such as untimely delivery of house, defect issues, and worst still abandoned project. These are the price that house buyers of STB method need to bear.

Anyway, given the current good economy environment and favorable interest rate, very few abandoned projects being seen for the past few years. This feel good factor implying that the risks mentioned seems to be forgotten by optimistic buyers. Please bear in mind that good times may turn into bad times, if global economy goes under water.

The Opportunists...

Due to STB method, property prices tends to run up along side with the completion date of a project. In view of the current loose liquidity, it attracted opportunists, instead of genuine buyers, to buy properties during launch date and sell it off once completed for a profit. Opportunists here refers to syndicate buyers and speculators. This had been identified as one of the reasons why property prices escalating rapidly.

The Solution is BTS ?

In order to curb these group of opportunists, some argue that BTS method was the solution. And, it can eliminate the various risks associated during construction period. In contrast, the advantages of STB mentioned above were gone. Developers would need to bear a higher risk now, and do you think that the property selling price will tick up? Definitely... This may not help, but worsen the affordability of house buyers. If BTS to be announced during Budget 2015, what's your reaction then?

Question: In your opinion, which method is better?