Cult Creative secures US7,500 seed funding from The Hive Southeast Asia to develop its creator collaboration platform

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New business model aims to revolutionise the creator collaboration landscape
Claims to have calidated creator model with over $60,200 in payments over 12 months

Cult Creative, a Malaysian creator economy company bridging the gap between nano and micro creators, announced US$107,500 (RM500,000) in seed funding from The Hive Southeast Asia. This investment follows…Continue Reading

Hitachi court petition to wind up Fusionex, reveal grim picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior leadership

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Great depth of detail of all irregularities and alleged wrongdoings
Suspicious transactions to V-Circle, Convedge for ‘development costs’

Despite it being the Christmas/year-end period when many corporate leaders take a break, tech CEOs, some as far away as in Chile, bombarded me with questions when Malaysian business weekly, The Edge, broke the story on…Continue Reading

Valley visionaries put personal profit over tech progress

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In the last few years, technological advancement has brought fame and enormous money to people like Elon Musk, Steve Jobs, Mark Zuckerberg, and Jeff Bezos. They are the people behind the technology and advertising that so many of us rely on, and they are frequently hailed as giants.

They can be contentious at times. The extent of their impact is occasionally questioned.

However, they also gain from a widespread folklore that improves their standing. This myth holds that executive “visionaries” in charge of enormous corporations are the forces behind crucial innovations that are too ambitious or contemporary for weak people institutions.

Because some people believe that the private sector is much better equipped than the common market to address significant issues. For an ideology is embodied in businesses like OpenAI. While synthetic intelligence is very important to be left to corporations only, the public sector is just unable to keep up, according to the premise of this prosperous company.

The strategy is connected to a social philosophy that supports the notion of trailblazing businessmen as role models who advance culture through individual talent and tenacity.

However, the majority of contemporary scientific foundations—like car batteries, place rockets, online, smartphones, and GPS—came about as a result of publicly funded research. They were not the universe’s business master ‘ original ideas.

And my research raises a further disconnect: the profit motive that permeates Silicon Valley ( and elsewhere ) often hinders development rather than advancing it.

For instance, attempts to make money off of the Covid vaccine had a negative effect on exposure to the medication globally. Or think about how new space tourism initiatives appear to place a higher value on experiences for extremely wealthy people than on less profitable but more beneficial missions.

More generally, restrictions on intellectual property tend to limit collaboration between ( and even within ) companies due to the desire for profit. There is also proof that short-term investor demands distort genuine creativity in favor of financial gain.

Allowing executives who are only interested in making money to set industrial agendas can also cost the government money. Dealing with the dangerous low-earth circle dust brought on by space commerce or the intricate regulation negotiations involved in defending individual rights around AI is expensive.

Graphic of rubbish surrounding Earth.
Who foots the bill for the cleanup? Photo: Shutterstock / Frame Stock Footage via The Talk

Therefore, there is a definite conflict between the demands of income and long-term technological advancement.

And this helps to partially explain why significant historic inventions came from public sector organizations that are largely immune to immediate economic pressures. Seldom do marketplace forces only produce revolutionary innovations like place programs or the internet.

Business dominance that is excessive has different dimming effects. Researchers appear to spend a lot of time looking for funding that is influenced by company objectives. Additionally, they are being encouraged more and more to enter the lucrative personal business.

Here, the skills of those scientists and engineers may be used to assist advertisers in much retaining our attention. Or they might be tasked with figuring out how to use our private data to generate more revenue for businesses.

Less likely to become the target are initiatives that could solve global inequality, public health, or climate change. Additionally, research suggests that through business partnerships, college laboratories are transitioning to a “science for income” model.

Digital fate

Real technological innovation, however, requires organizations and individuals who adhere to values that transcend economic opportunities. Luckily, there are locations where they can find help.

Software cooperatives and “open understanding institutions” place a stronger emphasis on innovation for the good of the group than for personal glory. Governments could help and engage in these kinds of businesses significantly more.

If so, healthier technology ecosystems that transcend corporations and their executive branch may emerge in the ensuing decades. For true cultural gain, they would foster an environment of assistance rather than competitors.

The eccentric “genius” of Musk, Zuckerberg, and their brother Silicon Valley entrepreneurs will still have a place. But it’s a mistake to design and control technological advancement using their swollen companies.

Genuine discovery and advancement may be based on the ideas and motivations of a select group of well-known men. It entails investing in organizations with a strong foundation in politics and sustainability, not just because it is more honest but also because, over time, it will be much more successful.

Peter Bloom teaches control at the University of Essex.

Under a Creative Commons license, this article is republished from The Conversation. Read the original publication.

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East Ventures consistently races in the perfect storm: 2023 recap & 2024 outlook

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90% of growth-stage startups: 30% on path to profitability, 60% profitable & 10% adapting
Anticipate SEA digital economy is well-positioned to excel in the next economic recovery cycle

The tech industry weathered an intense “perfect storm” of crises these past two years. The global economy is in a complex state characterised by uncertainty, making caution…Continue Reading

Khazanah Nasional, CGC Digital invest in Singapore’s Funding Societies to broaden financing access to MSMEs

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aims to increase protection to regions besides KL, Selangor, Penang, and Johor.Give energy development more cash flow management options over time.Funding Societies | Modalku, the largest integrated small and medium business modern financing platform in Southeast Asia, has been invested in by Khazanah Nasional Bhd and CGC Digital Sdn Bhd in…Continue Reading

Will ‘magnificent seven’ tech stocks ride as high in 2024?

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Seven gunfighters defend a town from thieves in the 1960 northern The Magnificent Seven. At the end of the film, just three are left to ride out of town.

After dominating US investment markets in 2023, the seven tech companies just dubbed the beautiful seven have much better odds. However, there are issues that may surprise some of these businesses in 2024.

In 2023, US securities have risen thanks to Apple, Alphabet, Microsoft, Amazon, Meta, Tesla, and Nvidia. They now account for almost a third of the largest listed US companies ‘ S&amp, P 500 measure, which has increased by more than 20 % since January.

By the middle of November, these tech stocks had given shareholders a whopping 71 % return, while the other 493 names had only added 6 %.

Michael Hartnett, an analyst for Bank of America, named these businesses the wonderful seven earlier this year as a result of this outstanding achievement. Shortly after, Goldman Sachs declared their enormous outperformance to be the “defining feature” of the 2023 ownership industry.

However, despite how dramatic this performance has been and the fact that they are all essentially tech companies, do n’t mistakenly believe that all of them are the same. In fact, there are conflicting expectations for the beautiful seven in the coming year, especially in light of anticipated changes in their primary markets.

The EV industry is becoming more competitive.

This begin with the unfavorable information. Tesla Motors, a manufacturer of electric vehicles ( EV ), will continue to lose market share in 2024.

Over the first three quarters of this year, Tesla’s US market dominance decreased from 62 % to just over 50 % of the market, while CEO Elon Musk has been dealing with advertising issues on X ( previously Twitter ), one of his other businesses. Mercedes-Benz Autos and the BMW Group have both increased their traces.

And over the coming years, the expanding size of Taiwanese manufacturers on a global scale appears to be difficult to match. In 2022, Chinese EV players like BYD, Nio, Wuling, and Xpeng produced nearly 60 % of the world’s electric vehicles ( EVs ), and they did so at a very low cost.

The average price of an EV in China in the first half of 2023 was$ 33, 000, which is more than twice what the$ 70,700 and$ 72, 000 spent on them in Europe and the US, respectively.

By 2032, nearly two-thirds of all new vehicles sold in the US will be energy, according to a tight new car pollution control proposal put forth by US President Joe Biden. However, the price of EVs will need to decrease if they are to be popular in the large industry.

A grey Tesla model S driving on the road with the sun setting in the background.
Photo of a Tesla Model S: CanadianPhotographer56 / Shutterstock via The Talk

Optimal future for sky computing

Two-thirds of the cloud computing industry, which has seven people and is dominated by Amazon, Microsoft, and Alphabet, will continue to expand in 2024, though perhaps not quite as much as in the past.

However, it is anticipated that the market for sky equipment companies will grow from$ 122 billion in 2023 to$ 446 billion by 2032. In recent years, some customers have concentrated on using the cloud more to reduce costs as a result of worries about the economic environment, though this has yet to include any discernible effect on revenues.

Additionally, there are some unanswered questions about Amazon’s future. Although its sky business is still strong, its original e-commerce business has just faced increasing competition, particularly from rival wholesale behemoth Walmart, which is squeezing into its US operations.

According to my calculations, holding Amazon stock has yielded an annual profit of 16.7 % over the last two years as of early December.

Unstoppable AI

California-based chip manufacturer Nvidia Corporation, which is also connected to the cloud computing sector, has been the resounding victory of the beautiful seven this year. This is entirely attributable to its dominance in cloud-based AI workload control. Nvidia graphics processing units ( GPUs ) are primarily used by cloud players.

Although its two-year transfer of 43.3 % is the most spectacular of the seven technology firms, there are potential rivals that may eat up some market share.

AMD, Nvidia’s closest rival, attracted attention with its most recent chip offering in 2023 and predicts that the market will be worth$ 400 billion by 2027. Numerous other start-ups are also creating cards for specialized AI areas.

You Nvidia keep its hegemony? If it does, AI’s development may cause its revenue to soar. However, the AI market will continue to grow for years even if it loses some business communicate.

Jen-Hsun Huan, NVIDIA's founder, president and CEO, talking about the chipmaker.
Jen-Hsun Huan is the creator, president, and CEO of NVIDIA. Jamesonwu 1972, courtesy of Shutterstock via The Talk

The unusual

That only leaves two more people of the beautiful seven, for those who are keeping track.

According to my calculations, Apple Inc., the largest company in the world by market capitalization, has consistently produced strong results over the past two decades.

The only member of the group to have demonstrated an basically flat property market performance over the past two years is social media firm Meta, the owner of Facebook, Instagram, Threads, and WhatsApp.

Although Meta’s revenues and income have consistently exceeded expectations this time, the company is still in danger from anti-trust laws in the US and Europe, as well as from a declining advertising business. The profit outlook for Meta for the upcoming year could be negatively impacted by both of these problems.

The beautiful seven have all made it out of town by the end of 2023, but it is obvious that not everyone will enjoy a leisurely ride on horseback in 2024. Get on your horses, companions!

International Institute for Management Development ( IMD) Professor of Finance KarlSchmedders

Under a Creative Commons license, this article is republished from The Conversation. read the article in its entirety.

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APU wins Shell Selamat Sampai Varsity Challenge 2023

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The project aims to improve motorcycle safety and solve serious traffic safety concerns.In a contest that is dominated by people universities, win marks the first for the private university.The Shell Selamat Sampai Varsity Challenge, a road safety program for students pursuing primary schooling, came to an end on December 7, 2023,…Continue Reading

In boost to investor confidence of social enterprises, Accelerate Global initiates buy back exercise at 20% premium

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Build track record as purpose driven, investor friendly social enterprise
Gearing up for next fundraising focusing on infra, community, human capital

Ending 2023 on a high note, youth-led social enterprise Accelerate Global Sdn Bhd, which in Nov 2021 raised US$102,400 (RM470,000) from 69 investors via equity crowdfunding with Ethis Malaysia, stayed true to…Continue Reading