Monday 27 February 2017

Podcast

Podcast is one of the contemporary excuses for not reading a book. 

I managed to listen in to Podcast (two of them) from BBC – 50 things that made the economy (also a book with the same name by Tim Hartford).

The Podcast is a work of Tim Hartford (an Economist, who contributes to Financial Times as Undercover Economist and a writer i.e. Undercover Economist, Messy, and Adapt etc.) along with BBC.

I have always enjoyed reading Tim Hartford articles and read his book Adapt.

This Podcast covers some of the important contributions that have impacted economic growth of the world. Some of them are Disposable Razor, Clock, Google etc.

Selections are based on contributions made to world of commerce and not in terms of impact on evolution of human being.

My personal favorite is Plumbing, which does not get attention that it deserves. Please read 10 reasons, listed by Plumbing Manufacturers International, on why Plumbing matters.

Link for Podcast is provided below and is worth a try in understanding contributions made and the people involved with it especially Disposable Razor and Insurance.


Remember “The more that you read, the more things you will know. The more that you learn the more places you'll go.”  Dr Seuss.

References:
The book Fifty Inventions That Shaped the Modern Economy is expected to be published on August 2017.

Friday 17 February 2017

Power of Analogy

Analogy helps in transmitting significance of a concept to the reader which hitherto may have been overlooked. Here the case in point is influence of Blockchain in securities trading.

Defining Blockchain (Fortune Magazine):

“…..the blockchain is actually a way to structure data, and the foundation of cryptocurrencies like Bitcoin. This coding breakthrough—which consists of concatenated blocks of transactions—allows competitors to share a digital ledger across a network of computers without need for a central authority. No single party has the power to tamper with the records: the math keeps everyone honest.”

Now coming back to impact of Blockchain in securities trading, I will reproduce a section from the article “The Truth About Blockchain” by Marco Iansiti and Karim R. Lakhani (HBR January-February 2017 Issue”:

“For example, a typical stock transaction can be executed within microseconds, often without human intervention. However, the settlement—the ownership transfer of the stock—can take as long as a week. That’s because the parties have no access to each other’s ledgers and can’t automatically verify that the assets are in fact owned and can be transferred. Instead a series of intermediaries act as guarantors of assets as the record of the transaction traverses organizations and the ledgers are individually updated.

In a blockchain system, the ledger is replicated in a large number of identical databases, each hosted and maintained by an interested party. When changes are entered in one copy, all the other copies are simultaneously updated. So as transactions occur, records of the value and assets exchanged are permanently entered in all ledgers. There is no need for third-party intermediaries to verify or transfer ownership. If a stock transaction took place on a blockchain-based system, it would be settled within seconds, securely and verifiably. (The infamous hacks that have hit bitcoin exchanges exposed weaknesses not in the blockchain itself but in separate systems linked to parties using the blockchain.)”.

The above example is an indication with respect to impact of Blockchain in completion of a transaction in a swift and reliable mode.

Reference:

Sunday 12 February 2017

Ability To Take Action

The above heading is from the movie National Treasure:

“Ben: A hundred and eighty years of searching, and I'm three feet away. Of all the ideas that became the United States, there's a line here that's at the heart of all the others: "But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security." People don't talk that way anymore.

Riley: Beautiful, huh? No idea what you just said.

Ben: It means, if there's something wrong, those who have the ability to take action have the responsibility to take action. I'm gonna steal it.”

The above quote is with reference to the article “Silence of the superstars: Why our Sachins & Rajinis are useless as rebels” by Manu Joseph (The Times of India , February 12, 2017).

The writer states “Celebrities are often too close to power to take the side of ordinary folks. It is as though good life holds them hostages in a paradise”.

It is very much true that celebrities want always from everyone and does not want to offend anyone in power.

Here I beg to differ about Rajnikant since in 1996 elections he famously said "If Jayalalithaa is voted back to power, even God cannot save Tamil Nadu."

I think the author missed that part of Rajnikant contribution in politics. But I completely agree about Sachin Tendulakar and Rahul Dravid:

“Rahul Dravid, who is still celebrated by the suave middle class for appearing educated and conscientious, in short for being one of them, has never challenged his corrupt bosses who ran Indian cricket. He has not done that even after retirement. Sachin Tendulkar never spoke ill of the cricket board or even about betting and other issues that might embarrass the board. In my only interview with Tendulkar, he threatened to end the session if I persisted with questions on the nexus between cricket officials and betting.”

It is shocking that Tendulkar played many Test and One Day matches with Azharuddin, Ajay Jadega (both Azhar and Jadeja were implicated then) but Sachin never ever spoke about betting. He shared dressing room with Azharuddin for more than 350 days approx. (considering around 47 test matches and around 160 one days Tendulkar and Azhar have played together).

Another classic case is the Indian Premier League team Chennai Super Kings. Chennai Super Kings was banned for 2 years for Spot Fixing but the captain of the team M S Dhoni , S Raina , R Ashwin maintained stoic silence. 

Remember Gurunath Meiyappan, I think MS Dhoni might not remember him now at least officially.

This reminds of the famous statement by Prime Minister Narendra Modi:

“Bathroom mein raincoat pehen kar ke nahana,
yeh kala to Doctor Saab hi jaante hain aur koi nahin jaanta hai”

I think above statement applies to Cricketers, Actors (for black money and casting couch).

Further, at one point writer strayed, which I disagree with him:

"As Aamir Khan learned in 2015 when he spoke his mind about the feeling of `intolerance' that was prevalent among the minorities at the time."

I think this statement endorses that Intolerance was there at time which is incorrect. Instead it could have been written as intolerance that was perceived by select elite members of the society.

Compliments to Manu Joseph for taking a subject and naming Sachin and Rahul in an article ( even though we know that Sachin, Rahul and Rajnikant are no more stars what they were a decade back).

Note: Irrespective of stoic silence by Sachin and Rahul, respect for their game will never diminish. 

Reference: