WHITE COLLAR | ISSUE 001
A MAGAZINE FOR THE CAREER-PERSON AND ENTREPRENEUR
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WHITE COLLAR ISSUE 001
EDITOR'S NOTE 03
BUSINESS RELATIONSHIPS 04
GRIID 07
IS BITCOIN A BUBBLE?
Contents 10
THE BOOTH 12
INTERVIEW WITH DAVID ZHAO 14
THE CUFFLINK 18
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A MAGAZINE FOR THE CAREER-PERSON AND ENTREPRENEUR
WHITE COLLAR | ISSUE 001
Editor’s Note Welcome to WhiteCollar! We’ve designed White Collar to experiment with thought and to refine how the modern career-person or entrepreneur considers an idea. Our primary intention at WhiteCollar is to inspire while challenging perspective. In the least we hope to start conversation about some crucial ideas in business, and how we relate and interact with each other. We hope to hear back from you; your thoughts and ideas matter to us. I’m excited that we get to learn together!
Emmanuel Kyama
ManuKyama
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Business Relationships: INNOVATOR AND INFLUENCER SYNERGY
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t being the month of love we decided to have a look at relationships. However not relationships in the classical sense, but business relationships and more specifically their latest step in this evolution as a result of the vast spread in technology. The vast spread in technology has changed the way people receive information and in an attempt to adapt to the changing environment businesses have done their best to adapt.
However in order to understand 21st Century Business Synergy better, we have to know the steps that came before:
1. THE FIRST STEP
In the mid 1800 in order to expand circulation of the newspapers, the printing houses collaborated with local businesses by allowing them to advertise. This was the first stage of the business relationship. The businesses could get the word out about their products or services, while the newspapers made more capital. This symbiotic relationship led to the vast growth of both businesses and the newspapers distribution because they both had a shared demographic.
The content advertised was however plain and straight to the point, more to say “we are this company and we sell this product” there wasn’t much effort to endear the client to the product. The content was mostly introductory, to inform potential clients of the existence of the products or services. In the early 1920’s radio was introduced and as an effort to adapt to the times the advertisers switched to this medium. However most of the advertising was centered on introducing products to the public. This continued with the introduction of television in the 1950’s. The relationship between media and companies persisted and benefited all the parties involved.
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BILL GATES AND STEVE JOBS
2. SECOND STEP
In the second half of the 20th century however, public relations began to be adapted by companies which now believed that the company’s image affected sales. In this era businesses were growing exponentially and began to lose their humanity. People saw a corporation and this made the organisations seem less approachable. To change the public’s image of the companies, the corporations put their founder’s in the spotlight as the approachable ‘face’ of the company. A few examples were Bill gates and Steve Jobs both of whom succeeded in humanising their companies. This method is applied up to date with personalities like Elon Musk.
They improved people’s confidence in the company and introduced the products in new and exciting ways. They inspired generations and created a halo effect around them and their companies, and in turn their companies grew to become among the largest globally. Changing how people viewed their companies, allowed them to thrive while giving them the room to make mistakes because of their perceived humanity.
ELON MUSK
Influencers shine a light on important businesses that challenge the status quo and push the envelope when it comes to innovation
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3. AND NOW
However with the introduction of the internet, the information revolution began. The public gained all kinds of information about these incredible companies and the halo effect around them faded. They were no longer seen as factories of innovation but as soulless corporations, and the great personalities were seen as the people profiting from them. An example of a piece of information is the alleged story that the working conditions at the factory where apple products are assembled are so poor that they had to install ‘suicide nets’ to curb the number of suicides.
MARQUES K. BROWNLEE
In the face of these allegations, the companies struggled to maintain a positive brand image through CSR and other charitable projects. Throughout this period with the vast spread of the internet and different modes of social media, certain personalities started to pop up across social platforms. These personalities influenced the rest and their word could be trusted because they weren’t a part of these ‘soulless corporations’. The brands supported but these influencers received attention because their perspective is seen to be unbiased. Upon learning this, corporations started to see endorsement from these influencers. However these influencers had the freedom to pick and choose who they would work with. They exercised this freedom often, only clinging to companies that they ‘believed in’. This fact emphasised the influencer’s authenticity and a credible and unbiased source of information. Relationships between these social influencers and the personalities that they support, started to pop up all over
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the world. In Kenya we have the media power-house Jeff Koinange and Xtian Dela, In Dubai we have the billionaire sales expert Saygin Yalsin and influencer Mo_vlogs, In America we have Billionaire Elon Musk and Youtuber MKBHD (Marques Brownlee). The influencers shine a light on important businesses that challenge the status quo and push the envelope when it comes to innovation. The influencer’s access to these innovators is an avenue to represent the masses and ask for better quality devices, cars and tech. Integrity plays a big role with these influencers because in a way they act as representatives of the customer base. There’s tremendous amount of responsibility with any public representative and in the same way, influencers. The prominent business personalities must pay the price of perpetual innovation for a chance at the access that the influencer provides. In that way there is balance and a win for the influencer, businessman and customer-base. ◊ ◊ ◊ ◊
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A
rtificial Intelligence (AI) is at the cutting edge of modern day technology. We have seen some of the world’s leading companies use it to disrupt certain industries for example Amazon disrupting the supermarket industry with their ‘check-out’ system, Amazon GO. It automatically detects which products are taken from -- or returned to -- the store’s shelves and keeps track of those goods in a virtual cart. When you’re done shopping, you leave the store, and your Amazon account gets charged automatically (and you’ll get an emailed receipt). That’s pretty impressive stuff, right?!
Griid uses advanced mapping techniques to help self driving cars move from one destination to another and even find parking on their own. This incredible piece of technology is the result of a lot of hard work by the team at Griid which consists of mapping specialists, software developers and marketers. Griid is a company that’s ahead of its time and having the first mover’s advantage is a blessing but it can also be a bit of a burden. “The old-school businessmen didn’t really
JEVON FRANK
Well, Griid is in the same line of innovation, but has the flexibility and freedom of a start-up. It is the brain child of its co-founders Jonathan McCollin and Jevon Frank, two of the brightest minds in the Caribbean Island of Trinidad and Tobago. Jevon, a linguistics major at the University of West Indes, wanted to solve Trinidad and Tobago’s parking problem by creating a mobile application. When meeting and brainstorming with Jonathan, a mapping enthusiast with previous work experience at the Coastal Zone Management Unit in Barbados, they discovered the trends in autonomous vehicles and that they could provide solutions to the parking issues faced by autonomous vehicles, and thus Griid was formed. The idea has evolved quite a bit and the team at Griid has remained flexible, “I guess you can say our business model has changed over the last months. From pursuing a B to C (business to consumer) model to our latest iteration of a B to B (business to business model)” explained Jonathan.
: GRIID
MEET THE CARIBBEAN START-UP LEADING THE CHARGE ON ARTIFICIAL INTELLIGENCE. A MAGAZINE FOR THE CAREER-PERSON AND ENTREPRENEUR
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"It’s incredible to see and be a part of the change that is currently happening in the automotive industry, to know that you can make the lives of people easier"
understand what we were doing and so investment was really difficult to come by” says Jevon Co-founder at Griid. Their Journey has not been the easiest but they continue to defy the status quo and keep innovating. “It’s been difficult acquiring and curating such a large dataset. Also creating a model of operation that complies with the strict safety measures required with autonomous vehicles” started Jonathan, co-founder at Griid “especially with the outrageous price of computers needed to do this.” The Team at of 8 at Griid have proved to be effective and set the pace on destination to destination autonomous driving. However their main area of specialisation is tackling the parking issue. Griid applies navigational mapping to allow for parking with surprising accuracy. “We are currently curating datasets from major cities all around the world in order to make autonomous parking and driving a reality as soon as possible” said Jevon.
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JONATHAN MCCOLLIN The team seems to have incredible confidence and is focused “It’s incredible to see and be a part of the change that is currently happening in the automotive industry, to know that you can make the lives of people easier. Also the chance to one day be an inspiration to the younger generation. These are the things that keep us going.” The Team at Griid is actively considering investors and different partners in the automotive industry and will continue to do so for the rest of 2018. ◊ ◊ ◊ ◊
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Is Bitcoin a Bubble? T
hat’s one of the questions on everyone’s minds. But before we move forward we first have to understand what a bubble is.
An economic bubble is a phenomenon where an assets price escalates quickly and exceeds its value, and this is followed by a sudden deflation of price, as the price moves closer to the asset’s value. Bitcoin certainly has a few of the markers of a bubble, namely:
A rapid escalation of price: The price of bitcoin has grown exponentially, because it has been driven by a ferocious demand from all over the world. At the start of 2017 Bitcoin cost about $900. By around mid November, the price passed the $10,000 mark for a single bitcoin. The price kept moving up until it crossed the $18,000 price point and even reached $20,000 in December 17th, this is a staggering shift in price for any asset and the fact that it all happened within the space of a year is even more astounding.
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It has a limited quantity:
Only 21 million bitcoins were created by Satoshi Nakamoto (the inventor of bitcoin). Given their finite number, and the overwhelming demand for bitcoin, the prices skyrocketed. Demand can determine the price of a particular asset but as a factor to determine intrinsic value, it is not accurate.
A similar demand-frenzy was seen in Europe during the Tulip mania in the 1600’s, where the price of the tulip soared. This was emphasised by how rare and limited the flower was. I believe in some ways the Tulip Mania and Bitcoin Frenzy are similar, especially looking at how demand inflated the price. To some extent it is expected that Bitcoin will correct (return to its true value), and once stable it can be used as a digital currency.
Derivative traders quickly adopted it: Derivative traders are brilliant when it comes to finding new ways to profit. In the 1600’s they created a kind of options trading to allow them to trade on tulips even when tulips were out of season. Derivative traders rarely have the interest of the market a heart, and may inflate prices through overspeculation.at times.They were quick to create different avenues to trade bitcoin. Trading bitcoin through options and futures can affect its volatility.
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the market. Bitcoin continues to fall at it breached the $9000 mark of the eve of February. This comes as a reaction to the new wave of hacks that left a Japanese exchange devastated after losing $534 Million, and allegation of price manipulation. This state of affair is tragic for the cryptocurrency investor as bitcoin lost $44 billion in market value in a singlemonth. Could there possibly be a silver lining in all this?
Therefore, if it looks like a bubble, talks like a bubble and might even walk like a bubble, but is it really a bubble? The safer option is to treat it as one and monitor it before investing in it. In the least you might learn how to spot ‘winners’ when making investments in the future.
WHAT NEXT
The price of bitcoin is steadily dropping and it went below $12,000 on January 16 th 2018. There’s a lot of speculation on what might be causing this steady drop in price. Some say that the first group of people to invest in bitcoin are offloading it in large sums and that’s what pooked
A MAGAZINE FOR THE CAREER-PERSON AND ENTREPRENEUR
Well in order to encourage spending a currency’s value has to be stable, this reduces the chances of hoarding with the expectation of a price increase. As the price of bitcoin returns to its true value, the currency will stabilise and allow for spending. This has always been the vision behind Bitcoin and other cryptocurrencies, free spending. The time to make money off bitcoin through rise in value might be coming to an end. But it’s time to pivot and prepare for the next stage in the evolution of bitcoin and other cryptocurrencies. Bitcoin was intended to be a currency that wasn’t dependent on any government or institution. It was also intended to revolutionise the way
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money transfer and remittances happened. To reduce corruption and theft because each transaction is recorded and securely stored using blockchain(a network that’s virtually impossible to hack). However the rapid increase in price discouraged spending and to add to that, there weren’t many outlets that accepted bitcoin as payment for goods or services offered. At first bitcoin was mostly used in the darkweb for unscrupulous purchases for example drugs. Despite losing the PR battle at first, the tide is slowly changing and many brave small businesses are accepting bitcoin. Tech leaders like Amazon and Facebook are also adapting. Mobile applications like KIK are also setting up infrastructure to accommodate bitcoin exchange and commerce. Those smart and brave enough to accommodate cryptocurrencies just might outlast the rest. But despite the currency revolution, cash is still King. It’s wise to still have cash and not put all your financial eggs in the cryptocurrency basket. There might be a few boom and bust cycles before cryptocurrencies stabilise, and a lot of money will be made and some lost as well. This will happen as cryptocurrency penetration increases over the next few years. But we must remember that at its heart cryptocurrency was intended to disrupt how we use approach e-commerce and reduce dependence on banks which haven’t exactly had the best track record. One interesting mention is Africa’s first cryptocurrency Nurucoin developed by Mr. Isaac Muthui nd the team at Nurucoin. They are currently raising capital, but note that they don’t have the Capital Markets Authority’s approval to raise funds from the public. So it would be best to observe this one from a distance for the time being.
The Booth “We stared the booth, an unconventional platform for Entrepreneurs, Creators , artists, designers and misfits who want to start something." Bringing good conversations around the topic of navigating the entrepreneurial journey The Booth offers the chance to listen to a myriad of experiences from community icons already up and running.
"Entrepreneurship is often sugar coated... The Booth is transparent and bullshit free” Alex Mativo, Founder at The Booth.
Word to the wise, given the quick adoption of cryptocurrencies, and the fact that they provide a cheaper alternative to any other mode of money transfer or remittances, it’s evident that they are here to stay. ◊ ◊ ◊ ◊
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A MAGAZINE FOR THE CAREER-PERSON AND ENTREPRENEUR
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Interview with
DAV DAVID ZHAO Meet David Zhao, the 23 year old business prodigy and CEO of NXT factor. He is also a managing partner at NXT group which controls a group of companies and investments from a luxury auto-club to a chain of restaurants. In total his businesses bring in an estimated 30 million dollars a year. To accomplish this is nothing short of remarkable. He masks his intellect with his easy going demeanor and sense of humor, both of which make him approachable and easy to talk to. We find out the secret to how David ‘sees the matrix’ in this exclusive interview.
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So, Who is David Zhao? I’m a 23 year business man and college student, born in China but grew up in the US. I head NXT factor and love partnering and growing with businesses.
Was there anything that set you on this course? Anything from your childhood? Certain personality traits stood out from when I was younger, I’ve always loved to organize things and also found it easy to work with people and help them get organized as well. But I didn’t know that it would lead me becoming an entrepreneur. I mostly dreamed of becoming a lawyer like most kids at that time but a part of me always looked up to my father, who is a businessman. He made it possible for me to come to America and come across the tremendous opportunities that I encountered here.
So how’d you get started? Well, believe it or not I started out on YouTube. I used to make videos and in the process of trying to get word out about my videos, I learnt about marketing. I started to help people with similar projects and it slowly grew into a business where I offered these services to people. By the time I was going into High School I was averaging about $3,000 a month. With each passing project I got more and more experience. By the time I was going into college we were helping local business set up shop, market and make sales over the internet. We had plenty of repeat customers who kept referring new clients to us and we grew even more. By this time we had just passed the $30,000 dollar a month mark.
strengths and grew to the point where we made between $1-3 million dollars a year.
Your age stands out, how has being young affected your business? Back in high school, I had a bit of a hard time with new clients because being that young and inexperienced we had a hard time proving credibility. When starting out you have to be okay with providing cheap labour or even sometimes working for free. It seems like you’re working for free but some of the network I built during that time played a major role in my success. Also after providing quality services I would get referred to higher paying clients. So it works out.
What contributed to your growth? Over a period of 6 years, there are a lot of factors that came into play but some of the biggest ones are; having the right partners: No matter how brilliant you are or how much you can do alone, you need partners who can complement and add to your skillset. A good CFO will help you raise capital or take your company public, if you lack expertise in that area. This ability to combine different resources makes a big difference. Work ethic is important as well, you have to operate with a certain level of discipline and your team will do the same. Having a good understanding of the business you’re about to get into. If you think you might be lacking, then get a partner who understands it down to the day to day , like I always thought that a restaurant was all about good food, but I came to learn that good food accounts for only 1020% of it the rest is a lot more complicated.
Some of these companies that we helped with the marketing started to ask us if we could be investors, and that’s how NXT group was formed, to help manage all these new investments. We continued to build on our
You have to be okay with failure, because not everything will work out or succeed.
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How do you approach race and diversity at NXT factor? I’ve seen first-hand how incredible diversity can be. Having grown up in China and moved to America I believe my diversity has given me an edge. I’ve been able to bring a bit of that culture with me in the form of Chubby Cattle, a restaurant that serves authentic Mongolian dishes. Also I’ve taken the technology and lessons I learn here and applied them in China so it works both ways. I’ve also had amazing conversations with my college room-mate who is from Tanzania. These conversations have helped broaden my thinking. I have often seen how much diversity can help build perspective.
students and people I’ve met at school. That’s also how I discover new ideas, through the interesting new people that I meet or learn with.
How do you keep going? How do you stay motivated? When starting out I wanted to accomplish a lot and that fueled my drive. But now it’s different, now I’m not working for just me, I’m working for the employees that the businesses support. For example Chubby Cattle has about 200 employees. I’m thinking about all of them! It’s a classic case of Motivation vs Habit.
What are you most proud of so far? So far I’m really proud of my team. I’m glad that I get to do what I love with the people that I love. That makes it that much more exciting to keep working. Also despite the hurdles, I’m glad that I kept my optimism and sense of humor throughout.
Any lessons you’ve learnt that you want to pass on to our readers? First, whatever it is you’re thinking of doing, start now. Don’t wait for perfection. Learning as you go along is part of the fun.
Why are you still in college, despite making a few million dollars a year? It’s not easy going to classes every week and balancing that with work. But when you’re working for yourself you approach school differently. Most people want to finish school and get a good job, but I value being around the smartest most innovative minds and learning from them. Some of the most important networks I’ve built are with the
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I’m working for the employees that the businesses support. For example, Chubby Cattle has about 200 employees. I’m thinking about all of them! It’s a classic case of Motivation vs Habit.
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Also everything you see around you is produced by an entrepreneur and of they could do it so can you. You have to be okay with failure, because not everything will work out or succeed.
What missed opportunities do you wish you could’ve taken advantage of ? BITCOIN! I’ve watched some of my friends become millionaires because they had the foresight to buy in early. But I believe it’s a fallacy to think that if placed in the same position that I would’ve done anything differently. We are who we are because of the decisions we make.
It’s not been a perfect journey, what obstacles have you faced? Most obstacles popped up in the day to day running of the business. Dealing with clients isn’t an exact science and so learning how to manage their expectations and how to deliver was a bit tricky at first. Also contracts were a bit hard to grasp at first. You need the right contract for every situation.
What’s next for David Zhao? Before I can think about what’s next I first want to return the investment made on Chubby Cattle to the investors. Once that’s done, we’re going to raise a whole new round of funding, possibly around $100 million and were going do some more investing. In the future I would love to go deeper into tech and pharmaceuticals. But that’s all I’ll say about that for now. I would also like to go the non-profit route and work with underprivileged kids in China. I want to inspire and change lives, I mean, don’t we all? ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊
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The Cufflink
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here are many pieces of jewellery that have been adopted by the modern day gentleman, but today we look at one piece in particular that has stood the test of time. The cufflink is a piece of jewellery fashioned out of precious metals like gold and silver, and in some occasions precious stones can be added as well. One would wear the cufflink with a tailor made suit and shirt, preferably with a dinner jacket. As such it’s reserved for special occasions like weddings or coronations. The cufflink can be used to show a family sigil, or political inclinations, however the modern gentleman may use it to reflect his unique style.
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HISTORY
It is known that the cufflinks can be traced back to ancient Egypt. This discovery was made by historians after studying ancient Egyptian paintings. The modern day version of the cufflink however was first made in the 17th Century, before which the shirt was either buttoned or tied to the wrist in a bow.
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At first the cufflinks were exclusively worn by the aristocrats and they were made from gold and the finest gems to reflect their status. During the 19th Century however there was the Industrial revolution, which changed the economies and allowed for the rise of the bourgeoisie (the middle class) who could afford to dress well. This led to increased popularity of the cufflinks and led to the development of the longue suit, which is a shadow of the modern day suit. The industrial revolution also led to cheap production of cufflinks which opened up a whole new demographic to cufflinks. Cufflinks became a must have accessory for the modern day gentleman. They became the perfect gift for the gentleman. Around this time the jeweler George Krementz foresaw the surge in demand for cufflinks and fashioned a cufflink making device from a cartridge making device used in the war. He later proceeded to patent it and start production of cufflinks. Krementz and Co went on to become one of the largest jewellery manufacturers of all time. Cufflinks never really go out of style and the older they are, the more exclusive they seem, which in turn makes them more expensive. So the next time you’re looking for the perfect father’s day gift, or aim to impress at a dinner gala or black tie event, consider the cufflink. Add a dash of style to your suit. ◊ ◊
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