When we read the Indus Valley Civilisation (IVC) history (also called, Harappan), what comes out clearly is that for about 1500 years in BCE, it prospered as a model urban centre and then it disintegrated.
Friday, May 19, 2023
THE HOT PLANET
EUSTACHIUS BENEDICTUS DE LANNOY
E.B. De Lannoy was the commander of the Dutch East India company Navy that fought King Marthanda Varma in 1741 at Colechel beach, now in Kanyakumari district of Tamil Nadu, earlier part of the Travancore Kingdom.
VASCO DE GAMA - THE MAN WHO STARTED EUROPEAN COLONIALISM IN INDIA
For eons, Europeans have been getting the supply of black pepper, cinnamon & spices from India via Arab traders. They were looking for a sea route to India so that they could directly do profitable business with it, avoiding the middlemen. In those times, the GDP of india exceeded 30% of the global figure. No wonder the European were desperate to reach it.
Saturday, April 8, 2023
ETHICS IN A TECHNOCENTRIC WORLD
Ethics deals with moral principles of of right & wrong. Ethics is more concerned with what we ought to do than what we do. Ethical philosophy is exhaustive, encompassing tens of thousands of years of human thought.
As described, ethics is the innate knowledge of right & wrong, as accepted by societies. Morality is living by the principles of right & wrong. It expects sacrificing individual interest for the benefit of the society.
Law translates morality into explicit social guidelines and practices, it stipulates punishments for offenses. It is the job of the authorities
The exponential growth of technology, be it Information & Communication Technology (ICT) or Biotechnology; has created in ethical conundrum in societies, nations and the planet. These technologies & its algorithms are self-regulatory by nature. Corporates and/or individuals, being both the creator and the regulator, it is giving nightmares to societies and governments. The challenge is that algorithms think differently than human beings. Things such as artificial intelligence, machine learning, genomics etc. have not been fully understood by authorities to prepare regulations upon that. Yuval Noah Harari, the famous thought leader and author says that writing code (algorithm) is equal to writing human societies. And, these algorithm makers have no training or knowledge on ethics that stayed in the realms of philosophers whose understanding of technologies are indeed poor.
As in the case of physicians and lawyers, who have to undergo some learning in ethics as part of their studies, no computer technologist, no engineer, no programmer ever undergoes any training in ethics. These professionals who move technology at God’s speed, are neither aware nor sensitised on the application of technology on human beings. The effects of the good and bad part of technology do not bother them much as they code new disruptive technologies with adrenalin pumping excitement and applies it randomly and at times, arbitrarily. The same applies mostly on management professionals too, whose main intent are to proliferate such technologies among masses, in order to monetise it at huge profits.
Most of high-technologies invades into the human privacy. Huge databases of users, that include their specific profiles, created and owned by Social Media platforms, are indeed a threat to the people as these platforms are much more aware of the person’s movement, behaviour, relationship and living habits better than the person himself. And today, technologically, it is also possible to continuously monitor all the people, all the time. Thus human privacy is totally lost, not only that, he had become manoeuvrable by the technology platforms. An example is the experimentation of the tech consulting company, Cambridge Analytica, on the electorate in specific parts of the country during the US election that was won by Donald Trump.
So if a person’s movement and behaviour is monitored and he is mentally made amenable, what would be the effect if a bio hacking happens on him where his body insides also undergo surveillance? It is where computer science combines with biological sciences to totally map out a person’s inside, outside, movement and behaviour. Imagine, what privacy is left of him, then? The beginning of such a biometric surveillance happened during Covid, in offices, airports, rail stations and meeting places, and all of you had undergone this surveillance, be it your temperature mapping or measuring the your breath for microbes and virus, all without you really knowing…….
Just look at this scenario. You are listening to a speech of an activist on your mobile device and he speaks with full anger against the authorities and you are listening to him. As he gets angry, you too are getting angry. And a software that is hacked into your device without your knowledge sends your present state of mind to the security agencies of the authoritarian government that rules your nation. What will happen of you thereafter? Heard of a surveillance software called Pegasus?
So, with the “big brother”, be it your establishment or authorities or government, who is monitoring your inside and outside on 24/7 basis, is there any privacy left out for you to protect? Isn’t it an existential question for you? And, what if your information is sold for commercial purposes or used against you to implicate and incarcerate you?
Thus
we come back to companies that code such disruptive algorithms. In a capital
economy based system, such companies, come what may, would be tempted to
monetise the innovation as have been the case ever since technology exploded
into our lives. However we see some changes happening in the ecosystem with
NGOs & some leading entrepreneurs combinedly have asked for a pause of such
technologies, allowing governments and ecosystem players (industry bodies) to
come out with laws and appropriate ethical code of conduct to regulate them.
For example, we hear that Microsoft, one of the world’s leading tech giants, is
implementing 6 ethical codes of conduct for its employees viz. 1. Protection of
privacy, 2. Transparency, 3. Inclusivity, 4. Fairness - avoiding all sorts of
biases. 5. Safety and Security & 6. Accountability of actions. Microsoft leadership promises that every
engineer/technologist in their system will undergo training on these codes of
conduct and infringing the same will have severe punishment.
It is also important to increase the citizen / civil society activism on these matters where they involve with corporates and organisations who are making & using such technologies, in order to sensitise them and prevent dastardly acts using them. From a philosophical level, the ethics and governance should flow down to practical technology level. Authorities and governments also must work on such ethical issues on a priority basis so that laws, conventions, practices, code of conduct etc. could be made and put in place benefitting nations and trade blocks. On such matters, the involvement of European Union on tech companies indulging in pushing products that harm / affect human beings, imposing huge penalties and blacklisting etc.,is appreciable, even if it is only addressing the tip of the iceberg.
A more enlightened approach is required of governments, corporates & citizenry to curb such ethical issues. Collective wisdom, avoiding parochial nationalism, continuous learning & powerful laws are the key to make the world a better place to live.
Sunday, September 4, 2022
REQUIEM OR RESURGENCE FOR THE CONGRESS PARTY ?
It all began in 1885 when some 70 odd delegates of eminence came together in Bombay (now Mumbai) to form a movement by name Indian National Congress (INC) against the British imperialism that the people of the country had been undergoing so badly. It included men from all over india such as Dadhabhai Naoroji, Ramaswami Mudaliar, WC Bonnerji, Badruddin Tyabji, and a former British Civil servant AO Hume. Though history credited the founding to Mr Hume, the underlying ethos were simply Indian who were suffering the British Raj.
Wednesday, June 15, 2022
UNICORNS & HEAVENLY VALUATION
There is something brewing up in Byju’s. The news is not authenticated yet by the company or auditors or the investors. If rumours are true, it will not only hit Byju’s badly but tarnish the shaky Indian ‘edtech’ sector. We have also been reading such news about Vedantu, Unacademy etc.
Byju’s’ has an expensive edtech course which is sold to customers who cannot afford to purchase it by onetime payment. Therefore, it ties the customers with financing companies to facilitate a loan, to be repaid trough EMIs.
In Byju’s case, due to variety of reasons, there are huge EMI default by its customers. Normally lenders, who finance customers to buy products, try to validate the capability of the individual to pay back the loan. For risky loans, they make stringent approval criteria or raise the interest rates. But if the company that sells the product guarantees to repay some or all of the loan in case its customers default, the financing company would loosen its terms, thus facilitating more sales. This guarantee is called the first loss default guarantee or FLDG.
Byju’s (and its Indian peers) gained immensely from this arrangements. This drove the company’s sales in India northward.
The challenge has been that the households that are barely making ends meet, have often not been to repay the loans. And there are hundreds of thousands of defaulters now that were compensated by Byju’s to the financiers.
Byju’s has a challenge to show these refunds in the book and due to this, Deloitte, the auditors of the company is not signing its 2020-21 balance sheet (it is more than 15 months now). This has now triggered panic amongst the edtech’s investors and rival edtech leaders.
It is for these reasons that RBI wants to clamp down on FLDGs. If that happens, lots of edtech loans might come on the radar. That is the major risk for Byju’s. This also would affect the impending IPO of Byju’s, and that can have serious ramifications for the investing companies.
Apparently, FLDG has the same characteristics of the Sub Prime Lending of 2008 that started a global economic collapse.
One tend to argue that like most of the Unicorns is in the country, Byju's is also a flawed case of valuation. It is not different from what happened during dot com bubble. Our penchant for "Unicorns" is heading us for another financial disaster. One is still wondering how some of the Indian startups could become a unicorn in just 6 months.
The astonishing figures of losses these companies make are often shoved under the carpet and VCs make merry by selling them among each other and finally selling to unsuspected primary market investors to their peril ! In fact in Kerala, we are criticised for not having "valuable" unicorns but only profitable companies. It is hoped that proponents of startup ecosystem will soon come out of the mythical world of heavenly unicorns, most of whom are nothing but lame donkeys with an artificial overgrowth
Friday, May 6, 2022
LIFE IS A RIVER
Who said the river flows smoothly? Seldom it does. When it rains, it goes into spate. On its way, there are thousands of rapids trying to break its flow and tear its body into pieces and then, there are deep falls that it is forced to jump. Yes, the river has a lot to tell about its journey, the ups and the downs. In spite of it all, it flows and reaches its destiny, of dissolving into the sea.
Life is also like that. Who said life is a bed of roses? At best it is a sinusoidal wave and at its worst, it is like a river in spate facing multiple rapids and forced to jump! Like an all in one!
There are good times in life that we enjoy and there are bad times too that we hate to face. Often when it is bad, many struggles come together to test our strength, our patience and our life. People with weak mind start wilting. Too bad!
We all want to be hale & hearty and successful. But our best learnings come from our failures, our setbacks and our challenges. Theses learnings stand in good stead for us to face the next of bad times with a peaceful thought, ‘this too will pass’.
When we have difficulties, we start blaming others and the situations. We think the world has come together to kick us on the butt. Just realise this, there are things in our control and there are things out of our control. We can only address things in our control which let us do. The rapids, the falls are out of control, let us face them. But let us not yield to those. Let us face them with grit and win over it. There are so many examples of that.
The advice here is, do not give up fast. Sometimes you may say, ‘it is coming repeatedly’. Let me assure you, it will not stay long, it may be there a while but it would go way. Transience, that is the law of nature. It comes, it goes. Guaranteed that it will.
Strengthen your mind. Pray, meditate or reflect. Find some exclusive time for yourself. Let the happening go though your mind as a trailer but PLEASE DO NOT BE JUDGEMENTAL. That is the key. By itself, it is an inside oriented therapy. It soothes, it cools, not only that, it removes ambivalence, it brings better clarity and above all, it consolidates relationship with near and dear. Try it out, please.
Remember, TOUGH TIMES DON’T LAST, TOUGH PEOPLE DO.