In big picture, if you really look at it, the power/money structures do not want the general public to be good at finances. Look at our society- we are awkward, ashamed and it is a taboo to talk about money in our families.
Why? because we think money is secondary -the money can’t buy happiness crap.
But truth is, unconsciously we believe money is evil. We despise wealthy people as corrupt. We do not let ourselves be wealthy. So when our unconscious minds work against money, even though we want to do well, our minds won’t let us succeed, because we feel guilty.
There are many financial literacy curriculums, workshops and awareness programs running in Sri Lanka. They are run by corporates to make their staff do well, in apparel factories to help low wage earners to better manage their lives, by NGOs for disadvantages communities and in some schools as an extra curricular thing.
Middle class swear by their credit cards. Lower class pawn their gold and recycle ‘seettu’. Many are squeezed by micro credit legitimate sharks, pyramid scammers and “game poli mudalali.”
Financial literacy should help us take better decisions. But why it isn’t ?
By definition literacy is knowledge. Not application. So having knowledge about finance and practicing good financial habits are worlds apart. Practice require patience and planning.
These programs are mostly delivered to a person, not to the whole family. He gets knowledge and disappears in to the family and society. He has no leverage. He’s alone and fights the battle in his mind. He keeps financials as a secret. Most spouses do not know what is happening with their family finances.
Get the family members to talk about money. Plan together. Grow and sometimes crash together.
Our school education fragment the family, the society.
We play down real practitioners for illusion of certificate knowledge.
It’s time to get back to family, involve all of them, if you are interested in making people financially strong.
In this blog post, I will take a full circle around the current situation of global 5G roll out, what apple’s iPhone 12 will do for adoption of 5G and back to USA Govt’s ban on Huawei.
But first, what is actually 5G ?
5G is the fifth generation technology standard for broadband cellular networks, which cellular phone companies launched in 2019. It’s the next step from 4G which provide connectivity to most current cellphones.
The main advantage of 5G is that they have greater bandwidth, giving higher download speeds.
Telecom operators say that 5G offers download speeds up to 20 times faster than existing 4G, though coverage remains very limited for now.
The increased speed is achieved partly by using higher-frequency radio waves than current cellular networks. However, higher-frequency radio waves have a shorter range than the frequencies used by 4G or 3G cell phone towers.
Current 4G cellphones will not be able to use the 5G networks, which will require new 5G enabled wireless devices.
So, 5G. Is it available as yet?
The pandemic has kept consumers at home more this year, where they can use their own WiFi networks, and away from city-centre areas that often have the best 5G coverage. In Sri Lanka, only few spots have 5G in Colombo, which means I have to be in those spots to enjoy 5G.
I am using a Samsung Galaxy Note 9 right now. Will I upgrade to a note 20 ? Not a chance.
If you want to buy a new device so that you want to connect to 5G, that is not a good idea as of now.
5G will be pivotal to advancements in industrial automation, driverless cars and the “internet of things”
5G promises faster download speeds and lower latency, opening the door to entirely new kinds of applications, from self-driving cars to holographic video calls.
Which means, 5G will be more suitable for corporate and industrial market than among consumers
According to GSMA, the mobile trade body, operators are expected to spend 80 per cent of their mobile capital expenditure, or nearly $890 bn, on 5G networks in the next five years, driving unto 1.8bn 5G connections by 2025.
Meanwhile, the huge amount of capital needed for 5G, and a collapse in the share prices of some of the largest telecom operators in the industry, has put pressure on telecoms companies to justify their capital expenditure.
Should you buy a iphone 12 or any 5G enabled phone?
Even though Samsung and LG launched their first 5G handsets in mid-2019, telecom operators say that no one has yet offered the attraction of the iPhone 12.
before iPhone 12, Just 13 per cent of smartphones shipped globally in the first six months of 2020 were 5G-capable.
While the iPhone 12’s features would be not enough for a “yes” for an upgrade, telecom operators believe and pray Apple’s marketing trend and its’ fan base will make a stronger case for 5G.
Telecoms companies are pinning their hopes on Apple and its new iPhone 12 to kickstart the long-promised shift to 5G, after slow adoption of 5G among consumers over the past 18 months.
Also there is no “killer app” that will immediately attract the consumers to switch to 5G enabled smartphones.
Here’s an interesting fact: When Apple introduced their first iPhone in 2007, it did not even support 3G, this was five years after Nokia launched its first device to use what was then the fastest network available.
But iphone in 2007 had loads of killer apps and features for people to turn to iPhone and then create the android smart phone explosion.
Apple has mentioned mobile gaming as one key use case for 5G, introducing a new iPhone version of the popular multiplayer game League of Legends. But confusions over the Apple App Store’s commercial terms have prevented popular games streaming services such as Microsoft’s xCloud, Google’s Stadia and Facebook Gaming from launching on the iPhone so far. This further reduces the iPhone 12’s attraction even for gamers.
The war on 5G
The launch of global 5G networks is becoming a massive trade war with increased pressure from USA officials to governments around the world to block Huawei because of lingering fears over the company’s links with the Chinese government and military, and concerns that its technology could be used for spying. Huawei has denied such allegations.
Huawei is the world’s largest telecoms equipment supplier.
This slowed 5G roll outs in some countries, including the UK.
Here’s a another statistic: In Europe,a major prospect for 5G, in JULY, just under 2 million 5G devices were sold.
That is a higher percentage than earlier in the year but, it is still just 11 per cent of total smartphone sale in Europe. It is slow adoption.
Apple might be looking to app developers to produce new experiences, such as augmented-reality games, that can take full advantage of 5G.
The current state of 5G globally is in introductory stage, with only 24 countries globally is live with 5G.
5G will come and change the way we live, work and basically everything.
But it will not be in this year, it will take until 2025 to see wider adoption. But rest assured we will get 5G slowly.
As consumers, at this moment you will have limited utility by purchasing a 5G enabled phone at a very high price tag.
But for industrial automation and corporates this will be a wonderful opportunity to get on the next wave of technology and be an early adopter to explore new value additions.
Life is good, If we throw away the need to be right all the time If we unburden our selves from the titles and knowledge If we reflect that I have a fair chance of dying today If we can do things just because we can If we can get away from the obsession to make things perfect, and expect things to be perfect If we acknowledge we will always have haters, we can let them be If we reflect everything that is good in life will pass. Also bad things will pass If we ponder that happiness/peace is right here right now for us to grab. That no one need to give us permission. Yet why we do not give us the permission ? If we realise that my success does not come at the expense of others’, and vice versa.
Career is defined as a series of upward moves with steadily increasing income, power, status and security. Perks, corner office, company maintained vehicle, insurance and pension were the things people looked up to. Not that they will lose their attraction in our minds, but both employers and employees had to make lot of adjustments. And it will never go back to what it was.
Losing jobs is bad on paper. But there are thousands of new jobs created with less supply. You can lose a job just because that is how jobs are now. It was not your fault. Likewise finding a new job at regular intervals is becoming a norm.
The new jobs are revolving around ‘customer needs’. Advances in technology and society are frequent, pandemics happen, and our skills need to be upgraded and aligned. The safety of work now has to come from inside of a person, not from his office, because there’s no such thing as a secured job.
Getting a degree, then adding qualifications to your resume every 5 years not going to cut it . Even public sector is acknowledging this, but will take more time for their wheels to move.
People are supposed to learn on the go now. No time to sit and learn for few months and come back. If you do, there will be no job for you.
If things are changing so frequently how a person is supposed to align ?
3) Work in multiple projects at one time. To check what works and what not. Do side hustles in your spare time to test drive your ideas. Have a mindset to provide a valuable service people want, and deliver it consistently.
4) Get mentored by people who are doing well. By doing well I mean, who are genuinely happy and contented, plus have created wealth for them and others. Find what you are good at. A good mentor can see what you cannot see. It’s life changing.
5) Make a security safety net for you and your family by your self. Getting a good life and health insurance early in your life, so that you don’t hang on to employers handouts. Save money for rainy days. This gives a peaceful mind for you to explore the unknown and get rewarded. because in places where skills are in high demand and in short supply, the reward is usually 10X higher.
I think we need to discuss the ‘career’ thing. Because many young people ask me ‘career’ advise. I know you get these requests too.
I am very careful in dispensing advise to young people, especially when I do not know them enough.
There are few reasons
1) Youth, especially Gen Z ( born after 1997) have placed mental health problems and bullying at the top of their issues list, according to the economist. They are exam obsessed, spend lot of time on social media. This is what the world they were born offered them. Parents want their children to have the best. They grow up with abundance. Many options in life. That just confuses them a lot. Attention is a scarce resource.
3) Gen Z is creative and smart. I am amazed by their performances. Workplaces and schools are not equipped to serve them. Yeah, that’s on us too.
So what is the solution ?
There are many, but these solutions need patience and attention in to individual aspirations. We need to get the basics right.
First place to start is there no such thing as a ‘career’. It’s gone. Yeah, that might seem a radical place to start. But it is the truth we are trying to avoid.
I am creating a framework for a module to help find purpose at an individual level through a workshop for GenZ. If you are interested to jump in with your ideas, energy, leads, or anything at all, drop a comment or email me at firstname.lastname@example.org
Sri Lanka is doing pretty well on COVID19. People are back on to everything, going back to what it was like before. Masks are fast disappearing, social distancing…well what is that ?
Good thing is people hit hard by the lockdown can now get back on their feet. Bad thing is going back to what it was, negate our learnings of the pandemic. Because…
IT IS NOT OVER.
Today’s ( Sep 15) Covid update:
USA, India and Brazil are hotspots. Global deaths are closing on that ominous number of 1 million. Just let that sink in. 1,000,000 lives lost. We are now immune to numbers. Numbers do not move us. The severity of the pandemic is like a bygone.
Our ways of living and trading have changed. What if there’s another wave ?
Which is why we need to get in to digital ways of life, with care.
If companies need to stay relevant in this VUCA world you need to get your business models digital, not just the marketing.
Universities, you need to get your courses online, fast.
Governments, there’s no better moment than this to make your e-gov services accessible to all.
There are good examples. But it should not stop there. It needs to get better.
In a SPRINT workshop I facilitated, there was a group that had participants with in the same domain but coming from different organisations. So the group had to select a real problem of only one organisation and design solutions for it. So there was just one problem owner and I requested others to work like consultants, consultants with fresh pair of eyes.
That did go well.
I saw the problem owner struggle with his emotions, judgments, attitude and trying to defend old ways of work patterns. The heaviness of him ‘owning’ the problem was a burden to move forward.
Others, with their consultant hats on, were doing really well coming up with creative solutions and persuading those ideas with the team.
Those fresh perspectives were very helpful for the problem owner. I was glad to see he was able to make good use of the team effort.
This is why it is easy for us to give someone else a life advise, but we cannot do what we told them when the exact same thing is required of us in our lives. The difference is the ownership of the problem.
“It is easy for you to say”
is actually true. :). It is indeed easy to solve someone else’s problem, but painfully hard when it’s our problem.
A simple way to solve my problem is to remove my self from it. Approach the situation as if I am solving someone else’s problem. Sounds ridiculous. I have practiced this approach nevertheless and happy to say it works most of the time.
It is ironic that I am watching a documentary about social media addiction on netflix, which is again an addiction platform.
Of course Netflix is different from social media. 1) Netflix is a paid service. Netflix is not serving users with third party ads or recommendations. 2) We make a decision to see Netflix by paying for subscription. Hence user is not the product unlike in free social media services. You stop paying, you lose access to the service.
‘if you’re not paying for the product, you are the product’
Many say ‘I am different, I am not addicted’. You will be surprised to see how much time you spend on social media, if you actually measure time with tools like rescue time. (I measured few years back. I was shocked)
You will understand how deep the social media companies go to “extract your attention”. These companies are in the business of “mining your attention”
Also in the documentary at the start of the credits the creators mocks us by saying ” follow us on social media. We are kidding ! “
But when I went to their website, they are using social media channels anyway.
While we hope The Social Dilemma will inspire people to spark conversations “IRL”, we believe it is especially important to reach people where they need to hear it most – on social media.
In service of that goal, we plan to use social media to advance our impact campaign while adopting and modeling the principles of humane technology. Our focus will be on getting the film out to new audiences that might not otherwise seek it out, increasing the public’s understanding of the dilemma faced by our increased reliance on technologies that have become exploitative and extractive, and providing tools and resources to realign our relationship with these platforms.
For what is worth ‘the social dilemma’ is a must watch. It makes you think, reflect and adjust.
‘The social dilemma’ is a must watch. It left me shaking my head on a Saturday. I already made steps to scrape whatever time spent on social media. In fact it got me thinking about deleting some accounts for good.
The attention extraction business model is not a healthy way for humanity. You need to watch this amazingly curated documentary.
Also they have a nice website to reflect more on the dilemma.
A social service organisation dug up a drinking water well right in the middle of a very remote village.The team was so happy they could provide clean water to villagers. Before this new well, villagers used to travel 5 kilometres to fetch water. Donor agency was happy too. They came, launched the well with a ceremony, took smiling pictures with villagers and left. A month later the team was baffled to witness that no one is using the well. They found why. Husbands of the village used to paddle early in the morning in their cycles to fetch water. Not just water, but also to fetch the daily dose of village gossip. The well 5 kilometres away was the meeting point for husbands of neighbouring villages. Social interaction trumped convenience.
Question: Did the social service organisation fail to do the community needs assessment right ?
Another question : Why employees in 2020 spectacularly misuse the opportunity given by their employers to work from home. ?