The Internet - The first Worldwide Tool of Unification ("The End of History")

" ... Now I give you something that few think about: What do you think the Internet is all about, historically? Citizens of all the countries on Earth can talk to one another without electronic borders. The young people of those nations can all see each other, talk to each other, and express opinions. No matter what the country does to suppress it, they're doing it anyway. They are putting together a network of consciousness, of oneness, a multicultural consciousness. It's here to stay. It's part of the new energy. The young people know it and are leading the way.... "

" ... I gave you a prophecy more than 10 years ago. I told you there would come a day when everyone could talk to everyone and, therefore, there could be no conspiracy. For conspiracy depends on separation and secrecy - something hiding in the dark that only a few know about. Seen the news lately? What is happening? Could it be that there is a new paradigm happening that seems to go against history?... " Read More …. "The End of History"- Nov 20, 2010 (Kryon channelled by Lee Carroll)

"Recalibration of Free Choice"– Mar 3, 2012 (Kryon Channelling by Lee Carroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Loose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth, 4 - Alternate energy sources (Geothermal, Tidal (Paddle wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical) 8 – Wars will be over on Earth, Global Unity, … etc.) - (Text version)

“…5 - Integrity That May Surprise…

Have you seen innovation and invention in the past decade that required thinking out of the box of an old reality? Indeed, you have. I can't tell you what's coming, because you haven't thought of it yet! But the potentials of it are looming large. Let me give you an example, Let us say that 20 years ago, you predicted that there would be something called the Internet on a device you don't really have yet using technology that you can't imagine. You will have full libraries, buildings filled with books, in your hand - a worldwide encyclopedia of everything knowable, with the ability to look it up instantly! Not only that, but that look-up service isn't going to cost a penny! You can call friends and see them on a video screen, and it won't cost a penny! No matter how long you use this service and to what depth you use it, the service itself will be free.

Now, anyone listening to you back then would perhaps have said, "Even if we can believe the technological part, which we think is impossible, everything costs something. There has to be a charge for it! Otherwise, how would they stay in business?" The answer is this: With new invention comes new paradigms of business. You don't know what you don't know, so don't decide in advance what you think is coming based on an old energy world. ..."
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)



Etiquette mavens say the book on manners must be rewritten, literally, to take into
account new technologies and social media (AFP Photo/Ed Jones)

A 2012 survey by Intel found that in several countries, a majority said they were put
off by "oversharing" of pictures and personal information on the
internet and smartphones (AFP Photo/Nicolas Asfouri)

Honouring computing’s 1843 visionary, Lady Ada Lovelace. (Design of doodle by Kevin Laughlin)
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Sunday, September 21, 2014

E-commerce to reinvent Asian cross-border trade

Want China Times, Xinhua 2014-09-21

Two students discuss the design of their online store on Taobao. (File photo/Xinhua)

Every day, peddlers throng in a bustling wet market on a remote section of the China-Vietnam border. Their daily lives may soon be changed by a new age of cross-border trade centered on e-commerce.

Before the four-day China-ASEAN Expo closed in south China's Nanning on Friday, a slew of deals on e-commerce were inked between companies from China and members of the Association of Southeast Asian Nations (ASEAN).

They include agreements over online sales programs for agricultural products from Malaysia, Vietnam and the Philippines. These schemes will provide more convenient cross-border transaction for both local sellers and Chinese consumers.

IRRESISTIBLE TREND

China and its neighbors to the southwest have a long history of cross-border trade. In ancient times, border residents bartered goods without using a medium of exchange like money.

When money was invented, cross-border trade became more frequent. But the biggest challenge offline transactions encounter lies in trade settlement.

At the Puzhai Border Zone in Guangxi's Pingxiang, three Vietnamese women place a table besides an ATM to provide currency exchange services for merchants and tourists.

In several minutes, they close a deal with two tourists from northeast China, who exchange 3,000 yuan (US$488) for 9.9 million Vietnamese dong (VND).

"Over 100 Vietnamese fruit vendors do business in the zone, and nearly all of them have directly exchanged currencies via this private currency trading emerging since the early 1990s," said Vietnamese fruit peddler Do Thi Ngan.

She said that doing business with Chinese is a good choice, but trading the Chinese currency Renminbi, or yuan, for the VND is not easy. Since exchanges have until recently had to be conducted via the US dollar in local banks, the procedure was very complicated and extra fees were involved.

Good news is an Agricultural Bank of China branch in Dongxing established a currency trading center in April, which allows direct convertibility of the yuan and the VND.

But the border merchants may need more than that. They need a safer and more convenient way to do business. E-commerce may lead them to the dream.

China has been accelerating e-commerce cooperation with the ASEAN by encouraging cross-border transaction settlement in yuan and establishing online payment platforms.

Yao Songtao, deputy head of the financial office in the Guangxi government, said local authorities plan to start approving renminbi settlement accounts set by foreign institutions in the region.

Gao Hongbing, senior vice president of Alibaba Group, the largest e-commerce player in China, said the company has already prepared payment platforms for cross-border transactions.

The United Overseas Bank (China) has also developed a suite of cross-border renminbi solutions, said Eric Lian Voon Fui, the bank's president.

The combination of renminbi cross-border settlement and e-commerce will shorten the distance between China and other countries, prompting fast transactions and saving costs, Yao said.

E-COMMERCE IN THE AIR

E-commerce has gained great popularity in China among enterprises and individuals. Young Chinese are increasingly inclined to shop by clicking their computer mice rather than by selecting in shops.

The combined transaction volume of e-commerce in the Chinese mainland jumped 29.8% from a year ago to 5.9 trillion yuan in the first half of 2014, data from China's Ministry of Commerce showed.

Hutama Sugadhi, president of Indonesia-based Pt Aneka Coffee Industry, came to the China-ASEAN Expo to seek an e-commerce partner to explore the Chinese market. "The market will be broader and e-commerce will inject new vitality," he said.

Like Sugadhi, Chinese e-commerce enterprises are likewise eager to take a share of the emerging ASEAN market after great success domestically. The ASEAN shows huge potential, with around 200 million Internet users in the region, a third of its total population.

Alibaba has turned its attention to ASEAN e-commerce by investing US$249 million in the Singapore Post in May to jointly establish a platform for international e-commerce logistics.

Lee Chee Leong, Malaysia deputy minister of international trade and industry, said there is a clear emerging trend for China-ASEAN trade evolving into electronic cooperation.

China is aiming to elevate bilateral trade with the ASEAN to US$500 billion by 2015.

Related Articles:

Saturday, September 20, 2014

Newly listed Alibaba to apply to run internet bank

Want China Times, Staff Reporter 2014-09-20

The front desk of Alibaba's headquarters in Hangzhou, Sept. 15. (Photo/Xinhua)

Chinese internet company Alibaba, which went public on the New York Stock Exchange on Friday and saw its market value rise to US$231 billion on its first day of trading, will soon file an application to set up a micro-savings and micro-loans private bank, similar to its ongoing plan to set up a purely internet-based bank, the Beijing-based Economic Information Daily reports, citing an executive from the company.

China's top banking regulator, the China Banking Regulatory Commission (CBRC) announced on July 25 that it had approved the establishment of three private banks, though Alibaba's name did not figure among the approvals this time around.

During a company meeting in late August, Yu Shengfa, vice president of Alibaba's Microfinance Service Group, said this is because Alibaba has been proceeding with its bank building plan at its own pace and because the bank will offer some special services compared with the three other banks, requiring the company to devote more effort to improving and optimizing the plan.

Yu also said Alibaba has completed its plan for setting up the private bank and will soon submit its application to the CBRC, which is expected to make a final decision as to whether the application gains approval in late September.

Internet banking provides a comprehensive range of online transactions conducted entirely in online mode and without the need to establish offline physical banks.

China currently has no such banks and has no regulations governing this sector. The existing banking regulations require that banks should set up physical outlets, where customers can go to resolve any banking related issues.

Industry insiders are of the view that if Alibaba's internet bank is approved, relevant regulations will have to be amended and the regulator will need to consider how internet banks and traditional banks can be linked.

Related Article:


Sunday, September 14, 2014

Apple a decade behind Japan mobile payment curve

Yahoo – AFP, Karyn Poupee, 14 Sep 2014

Sony's prototype model of a smart card with a NFC chip (R) which has a LCD display
 enabling users to check the account balance, electronic coupon and other electronic
 information and a wrist watch shaped device, seen in Tokyo, on July 17, 2014 (AFP
Photo/Yoshikazu Tsuno)

Tokyo (AFP) - Apple's proud announcement that its new iPhone could be used to buy goods in a single swipe left customers non-plussed in Japan, where mobile contactless payments have been normal fare for a decade.

A type of Near Field Communication (NFC) chip, known in Japan as FeliCa, was introduced to the Japanese mobile market in June 2004 and has been been implanted in almost all phones sold in the country since.

The iPhone has been one of the few chip-less exceptions -- something that will change when the new models hit Japanese shelves on September 19.

Apple CEO Tim Cook shows off the new
 iPhone 6 and the Apple Watch at the Flint 
Center for the Performing Arts in Cupertino,
 California, on September 9, 2014 (AFP
Photo/Justin Sullivan)
Ten years ago the charismatic Takeshi Natsuno, who was then multimedia services director of Japanese mobile operator NTT Docomo, extolled the benefits of swapping cash for cell phones.

"When I leave my house in the morning all I take with me is my phone, which lets me do everything -- pay, take public transport -- simply by swiping a special reader in shops, stations or airports," he said at the time.

FeliCa was conceived by Sony way back in 1989 and first used in the Hong Kong underground railway system in 1997 -- in a card known as Octopus -- inspiring cities around the world to use similar technology in their own contactless transport cards.

Japan adopted an electronic payment system for trains in 2001, starting with the JR East network, which serves the Tokyo region.

The transport cards' success led to the integration of contactless chips into Japanese mobile phones and lifestyles with the creation of a group of apps known as the "mobile wallet" by NTT Docomo in 2004.

Thousands of readers are now installed in convenience stores, on vending machines, in office buildings and at stations and airports in Japan.

Contactless payments are a normal part of everyday life for many Japanese people, said Michael Au, president of the South Asia and Japan branch of digital security firm Gemalto.

"Japan has the most developed contactless infrastructure in the world and customers are already familiar with using their mobiles for contactless services," he said.

Sony, which said it has delivered more than 530 million FeliCa chips for cards and 245 million for mobile phones, is now responsible for making around a hundred various services based on the technology compatible with each other.

'Galapagos syndrome'

NFC was approved as a standard in 2003, as the fruit of cooperation between Sony and Dutch company Philips Semiconductors (now known as NXP Semiconductors).

"NFC has not reached the level of popularity or integration into current systems that FeliCa has in Japan. FeliCa paints a picture of NFC's goal and how to get there," says a site providing information about NFC.

The huge success at home that has not translated into sales abroad is a common theme in Japan, where companies have tended to focus on the large home market and its particularly fussy consumers.

This has led to a phenomenon dubbed the "Galapagos Syndrome". Like the distinct evolution Charles Darwin catalogued on the remote Galapagos Islands, technology in Japan has a tendency to develop without reference to other parts of the planet and is then incompatible with foreign market standards.

The most well-known example of this is the mobile phone, where Japan was initially streets ahead and had polyphonal, full-colour flip-top mobile phones in the late 1990s.

These units were Internet-capable as far back as 1999.

But the technology ossified and Japan was a relative late-comer to the smartphone market.

This "Galapagos-ization" has also been remarked in the video game, car and audio markets, with products such as the MiniDisc, compact cars and manga-inspired games all failing to make the same headway overseas as in Japan.

Natsuno, who is now a professor at Keio University in Tokyo, says Japan should have looked into overseas expansion of its cutting edge contactless payments system much sooner.

The fact that "we didn't extend this concept to the rest of the world" means that now Japan "can't do anything" about Apple's bragging over their innovative iPhone 6 with an NFC chip, he said.

China's internet regulator warns foreign firms

Want China Times, Xinhua 2014-09-14

Chairman and CEO of Qualcomm, Paul Jacobs, speaks at a conference in
Las Vegas. (File photo/Xinhua)

A senior official with China's internet regulator Wednesday warned that foreign firms should not harm the country's interests and security while making big money from this market.

The bottom line of the Chinese government concerning the management of internet is national interest and the interests of Chinese consumers, said Lu Wei, director of the State Internet Information Office, at 2014 Summer Davos in the north Chinese city of Tianjin.

"We welcome all foreign companies to do business in China if they stick to this bottom line," Lu said at a sub-forum about the future of internet business.

"What we can not allow is that you undermine the country's interests while doing business in this market and profiting from it."

When responding to a question about China's ongoing anti-trust probes, Lu said the probes do not target any specific company and China is always open to foreign firms.

"But we also would like all foreign companies to understand that they should abide by Chinese laws," he said.

Lu stressed that the fast development of internet businesses in China proved that the country's industrial policy is open, and domestic IT firms are also open to cooperation with foreign counterparts.

The creativity of Chinese IT firms and high-quality regulation of the Internet also contributed to the development, he added.

China is conducting anti-monopoly investigations against Microsoft, Jaguar Land Rover, and Qualcomm. Paul E. Jacobs, executive chairman of Qualcomm, attended the forum with Lu.

The National Development and Reform Commission confirmed in February that it is conducting an antitrust investigation into the US mobile chip maker.

Jacobs refused to comment about the anti-trust probe but stressed that the company's cooperation with Chinese firms is important, mutually beneficial and has great potential.

Friday, September 12, 2014

US judge fines HP $59 mn for bribing Russian officials

Yahoo – AFP, 12 Sep 2014

According to a negotiated plea bargain, executives in an HP Russia subsidiary
 created a multi-million-dollar slush fund, from which money was used to bribe Russian
officials who awarded the company a $45 million contract (AFP Photo/Brendan Smialowski)

San Francisco (AFP) - A judge on Thursday ordered US computer giant Hewlett-Packard to pay $58.8 million for bribing Moscow government officials to win a big-money contract with Russia's prosecutor general's office.

Northern California US District Judge Lowell Jensen hit HP with the fine after the company pleaded guilty to violating anti-bribery and accounting provisions of the Foreign Corrupt Practices Act, the US Department of Justice said in a release.

According to a negotiated plea bargain, executives in an HP Russia subsidiary created a multi-million-dollar slush fund, from which money was used to bribe Russian officials who awarded the company a $45 million (35 million euro) contract with the Office of the Prosecutor General of Russia.

A judge orders US computer giant Hewlett-
Packard to pay $58.8 million for bribing
Russian government officials to win a big-
money contract with the prosecutor
general's office in that nation (AFP Photo/
Hector Mata)
"Hewlett Packard's Russia subsidiary used millions of dollars in bribes from a secret slush fund to secure a lucrative government contract," principal deputy assistant attorney general Marshall Miller of the Justice Department's Criminal Division said in a release.

"Even more troubling was that the government contract up for sale was with Russia's top prosecutor's office," he said.

Bribes in Russia, Poland, Mexico

The plea deal came as part of an agreement by HP in April to pay a total of $108 million to settle investigations that it paid bribes to win public contracts in Russia, Poland and Mexico.

The settlement covers criminal and civil investigations under the Foreign Corrupt Practices Act, according to a statement from the US Securities and Exchange Commission.

According to authorities, the California company's subsidiary in Russia paid more than $2 million in bribes through agents and various shell companies, using two sets of books and secret spreadsheets to keep track of affairs.

"For more than a decade HP Russia business executives participated in an elaborate scheme that involved paying bribes to government officials in exchange for large contracts," FBI Washington field office assistant director-in-charge Andrew McCabe said in a release.

In Poland, gifts and cash bribes worth more than $600,000 were paid to a Polish government official to obtain contracts with the national police agency.

And in Mexico, HP paid more than $1 million in commissions to a consultant to win a software sale to Mexico's state-owned petroleum company Pemex, and some of that money was funneled to a company official.

SEC investigators in April said HP lacked internal controls and allowed the bribes to be recorded "as legitimate commissions and expenses."

According to US officials, the bribes in Mexico were paid from 2008 to 2009, in Poland from 2006 to 2010 and in Russia from 2000 to 2007.

HP acknowledged the settlement in a separate statement in April and noted that it calls for "certain compliance, reporting and cooperation obligations."

"The misconduct described in the settlement was limited to a small number of people who are no longer employed by the company," said John Schultz, executive vice president and general counsel for the company.

US threatened Yahoo with huge fine over surveillance

Yahoo – AFP, 11 Sep 2014

Civil liberties activists hold a rally against surveillance of US citizens at the
Justice Department in Washington on January 17, 2014 (AFP Photo/Nicholas Kamm)

Washington (AFP) - US authorities threatened to fine Yahoo $250,000 a day if it failed to comply with a secret surveillance program requiring it to hand over user data in the name of national security, court documents showed Thursday.

The documents, made public in a rare unsealing by a secretive court panel, "underscore how we had to fight every step of the way to challenge the US government's surveillance efforts," Yahoo general counsel Ron Bell said in a blog post.

The documents shed new light on the PRISM program revealed in leaked files from former National Security Agency contractor Edward Snowden.

The program allowed US intelligence services to sweep up massive amounts of data from major Internet firms including Yahoo and Google.

Bell said 1,500 pages of documents were ordered released by the Foreign Intelligence Surveillance Court in the case dating from 2007. He said that in 2007, the government "amended a key law to demand user information from online services."

"We refused to comply with what we viewed as unconstitutional and overbroad surveillance and challenged the US government's authority," he said.

Yahoo's court challenge failed and it was forced to hand over the data. The court records were kept sealed.

"At one point, the US government threatened the imposition of $250,000 in fines per day if we refused to comply," Bell said.

Since the Snowden leaks, Yahoo and others have been seeking to make public these court documents to show they were forced to comply with government requests and made numerous attempts to fight these efforts.

The opening of these court dockers to the public "is extremely rare," Bell said, adding that the company was in the process of making the 1,500 pages publicly available online.

"We consider this an important win for transparency, and hope that these records help promote informed discussion about the relationship between privacy, due process, and intelligence gathering," Bell added.

But he said that "despite the declassification and release, portions of the documents remain sealed and classified to this day, unknown even to our team."

Thursday, September 11, 2014

Schiphol airport tests cameras which can pick out unusual behaviour

DutchNews.nl, Thursday 11 September 2014

An emergency room of the military
police at Schiphol (NOS/ANP)
The police at Amsterdam’s Schiphol airport are to test out intelligent cameras which can pick up on unusual behaviour in travellers, the NRC reports on Thursday.

The cameras can not only identity obvious gestures such as wild arm movements or people who run through a departure lounge but more subtle behaviours such as ‘spending too long in the toilet, a group of people which divides up or someone who leaves a suitcase unattended,’ the NRC said.

This, the police hope, will allow them to trace criminals and prevent attacks.

The cameras are being installed by The Hague company Qubit Visual Intelligence using research carried out by the Dutch TNO institute.

US defence department

The NRC says TNO has been researching intelligent cameras for years on behalf of the US defence department. Neither company would comment on the reports.

Publically available information gives some insight into how the cameras work. ‘We know that pickpockets often hover at the back of the same queue at a ticket machine several times without ever buying a ticket,’ TNO has said in a paper.

TNO is also researching techniques to identify if people are nervous using heat sensitive cameras and radar – such as a raised heartbeat or cold nose. It is not clear if this technology will be used at Schiphol, a spokesman said.

The justice ministry would only state: ‘we are continually involved in improving monitoring and security together with Schiphol. We are trying to do this more intelligently so that staff can do their jobs better’.

A similar project is to start at another location in the Netherlands soon but the location is being kept secret, the NRC said.

Wednesday, September 10, 2014

What makes Internet giant Alibaba so successful?

As Chinese e-commerce giant Alibaba prepares for what is likely to be the biggest IPO of a technology firm in the US on record, analyst Yan Anthea Zhang speaks to DW about the secrets behind the company's success.

Deutsche Welle, 9 Sep 2014


Chinese e-commerce giant Alibaba is planning a record initial public offering (IPO) on the New York Stock Exchange. The company, a rival of Amazon.com and eBay, plans to offer more than 320 million shares sometime this month at a price between 60 and 66 USD. This would give the company - which could raise as much as 21 billion USD in its IPO - a total market value of 163 billion USD. In comparison, Facebook raised 16 billion USD in 2012, the most for a technology IPO so far.

Founded by former English schoolteacher Jack Ma, Alibaba accounts for about 80 percent of all online retail sales in China, where Internet usage is expanding. Yan Anthea Zhang, professor of strategic management at Rice University in the United States, says in a DW interview the secret to the company's success lies in a mixture of factors she sums up as AHIS - availability, habit, infrastructure and scale.

Zhang adds that once Alibaba is listed in New York Stock Exchange, transparency will be improved as the firm will need to disclose more information to the regulators and investors.

DW: What makes Alibaba so successful?

Yan Anthea Zhang: The company's successes can be summarized with the letters AHIS. "A" stands for "availability." With two flagship websites - Taobao for consumer-to-consumer and later Tmall (or "Tianmao" in Chinese) for business-to-consumer, Alibaba makes e-commerce very accessible to consumers in China.

Zhang: 'As Alibaba gets bigger, it becomes
 harder for other firms - online or offline - to
compete with it'
For instance, many private store owners at Taobao offer their merchandise part-time - or at least they started as part-time before their businesses took off. The reason for this is that sellers don't need to pay Taobao to set up an Internet store there. However, if store owners want to stand out among the millions of Taobao sellers, they have to pay the website for advertisements.

So given the low set-up cost, Taobao attracts many people willing to give it a try and sell a vast array of products there. The fact that there are millions of people selling a variety of products at Taobao increases the "availability" of merchandise and generates traffic to the website. This large traffic then allowed Alibaba to successfully launch Tmall for businesses to set up stores at the Alibaba website.

What do the other letters stand for?

"H" stands for "habit." The wide "availability" of products at Taobao and Tmall attracts buyers to these websites. To many consumers, when they want to buy something, they - especially the young generations - search on Taobao and Tmall, instead of going to bricks and mortar stores.

In this sense, Alibaba has not only the functions of Ebay or Amazon, but also takes the (product) search function of Google in China. This variety of functions builds consumers' "habits" of searching and shopping at Alibaba websites.

"I" stands for infrastructure. The huge amount of product transactions at Taobao and Tmall calls for the support of infrastructure. Two types of infrastructure are particularly important: online payment system and fast delivery system.

Alibaba Group owns China's largest online payment system - Alipay (or "Zhifubao" in Chinese). Indeed, Alipay has become one of the most important assets in the Alibaba Group, which is hard for other competitors to match or imitate. Alibaba also works closely with the major fast delivery companies throughout China to make sure that logistics will be carried out smoothly, particularly during holidays.

"A", "H" and "I" together contribute to "S", which stands for "scale". A large scale in transactions at Taobao and Tmall further attracts more sellers and buyers to these websites, leading to a positive reinforcing effect on "A," "H" and "I." As a result, the industry becomes a situation where the "winner" takes all. As Alibaba gets bigger, it becomes harder for other firms - online or offline - to compete with it.

Once Alibaba is publically listed, transparency will improve as the firm will
need to disclose more information, says Zhang

How transparent is Alibaba in the way it conducts business as compared to, say, Amazon, eBay or PayPal?

Once Alibaba is listed in New York Stock Exchange, transparency will be improved as the firm will need to disclose more information to the regulators and investors. Nevertheless, Alibaba's business is more complex than Amazon or Ebay, partially due to its recent acquisitions. It would be hard for analysts and investors to understand its businesses and find an appropriate comparison group.

What is your long-term outlook for the company?

Jack Ma is the visionary leader, the image,
and the ambassador for Alibaba, says Zhang
With such a high valuation, investors would expect Alibaba to continue to grow. However, e-commerce in China and the US is hyper competitive. The company would need to find new paths for growth. Some of the recent acquisitions can allow Alibaba to experiment in new businesses and new geographic markets.

As for company founder Jack Ma, I believe he will continue to play an important role. Although Alibaba has successfully groomed a team of leaders, nobody at this stage seems to be able to replace him. Jack Ma is the visionary leader, the image, and the ambassador for Alibaba.

Yan Anthea Zhang is a professor of strategic management at the US-based Jesse H. Jones Graduate School of Business, Rice University. Dr. Zhang's areas of specialization include CEO succession and dismissal, and foreign direct investment and technology entrepreneurship in emerging

Saturday, September 6, 2014

Internet tycoon trio are richest men in China: report

Want China Times, Staff Reporter 2014-09-06

Robin Li. (File photo/CNS)

Jack Ma, founder of e-commerce giant Alibaba, is now China's richest person, with net assets of US$21.8 billion, followed closely by two other internet tycoons, Tencent chairperson Ma Huateng and Baidu CEO Robin Li, according to foreign media reports.

Tycoons in the internet industry often started off as the founders of startups, but have now left their days working as impoverished programmers behind them and have become the major beneficiaries of China's internet boom, which has secured a prominent role in the nation's economy.

Industry veterans believe that by taking advantage of the huge domestic market, China's internet industry will likely catch up with its US counterpart over coming years.

Shanghai's China Business News reported that many people in China have made fortunes with the emergence of the internet industry.

Baidu, China's main search engine, was listed on the Nasdaq in 2005, for instance, making some 300 staffers of the company, out of a total of 750, rich overnight, including eight with assets worth 100 million yuan (US$16.3 million), 50 with 10 million yuan (US$1.6 million), and 240 with 1 million yuan (US$163,000), while Alibaba's Hong Kong listing in 2007 made 1000 company staffers rich.

Most of these staffers earned their money from options to subscribe to their companies' shares, granted to them as an incentive. Tencent recently announced a plan to float 19.5 million new shares as incentives for employees, for example. 4,997 staffers at the company will benefit from the new-share issuance, worth 1.9 billion yuan (US$309 million) in total, each gaining shares worth 380,000 yuan (US$62,000) in value on average.

Chen Tianqiao, founder of Shanda Corporation which operates a gaming and publishes books, announced recently that it would give eight of its executives shares worth 100 million yuan (US$16.3 million) each. In 2013, e-commerce giant Jingdong Mall gave out shares as incentives to employees worth 3.8% of its gross profits, another e-commerce firm Jumei gave out shares worth 16.5% of its gross profits in the same year and vip.com gave out 3.1% of its profits by issuing shares.

Related Article:


Thursday, September 4, 2014

3DHubs Raises $4.5 Million To Make Local 3D Printing Global

TechCrunch, John Biggs, 3 Sep 2014

3DHubs, a 3D printer matching service, has raised a $4.5 million Series A to help bring their local 3D printing system to the world. The service, which allows you to find and order 3D prints from printers in your area, is similar to other services like MakeXYZ and 3DLt but is already available overseas.

Founded by former 3D Systems employees Brian Garret and Bram de Zwart, the site was one of the first global 3D printing solutions. They’ve processed over 30,000 3D prints and have about 7,100 printers in 140 countries. To use the service, you simply choose your area, upload a model, and ask for a quote. The 3D printer owner then prints things out and gets it to you via post or sneaker net.


It’s a tough market but the team prides themselves on speed.

“We’re very fast and average delivery time has dropped to 1.2 days from submission to pickup/shipping,” said Garret. “Competitors like Shapeways still take about a week for their fastest materials, and much longer for special materials.”

They’ve also worked up some excellent partnerships and are already embedded as a service provider for some 3D modeling products.

“We’ve got partnerships in place with Autodesk (direct print button to our API) as well as consumer brands like Fairphone. Through these partnerships we drive about 40% of our orders, this is where we see most of the growth in the coming year,” said Garret.

“Bram and I started 3D Hubs out of frustration that existing 3D printing services weren’t living up to the promise of 3D Printing. As soon as we launched, the idea really resonated with printer owners around the world who enjoy printing, but often run out of things to print for themselves,” he said. “3D Hubs offers them a way to earn money and collaborate on cool maker projects.”

The Series A is led by Balderton Capital. Mark Evans, General Partner at Balderton Capital, will join the 3D Hubs board. The company is opening new offices in New York at the Brooklyn Navy Yard and will improve its API penetration. “We are developing new features that will make the experience of ordering a personalized 3D print similar to traditional e-commerce platforms,” said Garret.

Printing and selling small batch hardware is going to be the future. These guys are right at the cusp. It’s definitely a crowded space, though, so it looks like they’re going to have to put all four million of those Series A dollars to work.