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What is the calculation of the super-rich Nigerian and why don't they run to the hills whenever there is an economic crisis?

I think because each crisis presents new opportunities with loopholes to gain advantage. I’ve once said that Nigeria is the world’s opportunity capital.

 What Nigeria produces in abundance is opportunists. We don't do capitalism or socialism in Nigeria, we do opportunism.

Opportunism doesn't think long term about anything. It takes lemons and makes lemonade, then tries to create a lemonade monopoly to have outsize sales margins.
This is why we import when things are scarce. We trade when we are broke. Importation and trade are very short-term value creation processes without long-term upside. It is why our wealthy people are ”low-quality” according to @DoubleEph 😂

There is generally no production depth
Our banking system is also complicit in supporting this charade. It is why most of the nonperforming loans have been made to these same opportunists masquerading as the ”super-rich”. I missed the opportunity to add quotes in my first tweet. Their so-called wealth is qualified.
Something is fundamentally wrong when an economy is almost completely transactional. Yes, I have made money from fintech but I also see the long term damage of the current fintech hype. Nigeria as a country has been in one long hype cycle. This is why I keep saying it isn't real.
Nigeria is not a real country. It is a transaction. We were born there to learn opportunism and make money. This is why Nigeria is not growing. Opportunists do not think about the society, they think only of themselves. The way our ”super-rich” live is proof of it all.
Please, make no mistake about the intent of this thread. I don't blame anyone who has made money from the Nigerian opportunity to pretend to have a conscience. It is a tragic flaw to have a conscience in Nigeria. It shortens your life expectancy.
Nigeria is an extreme experiment in economics. We push the boundaries of rational economic behaviour to irrationality.
When a Nigerian person talks about becoming a Billionaire I am not worried as they will never become one. True ”Nigerian billionaires” make money together in cult-like silence. Extreme opportunism is never loud. Their money speaks for itself. It is their excesses that become loud
Once again, ”What Nigeria produces in abundance are opportunists.” We see opportunity and take advantage of it even when it seems we are helping others. The typical Nigerian is NEVER altruistic. Caveat Emptor!

More from Osaretin Victor Asemota

Osaretin Victor Asemota
Osaretin Victor Asemot...
@asemota
There are many Africans with a free $50k to $100k lying idle somewhere than we think. They keep cash as a contingency for many reasons. Anything can happen. Positively or negatively. Cash is sometimes worse than a dead asset. They keep it anyway. Most likely outside Africa.

I was having a chat with my best man about African investments and I could have tried to teach him ancient Sumerian instead. Dude’s mind is closed to Africa. He would rather invest in Dubai as it made more sense. Problem is there are African investments with much better returns.

I think Africa has a massive PR problem. The problems are real no doubt but the opportunities are also real. The news about the problems overshadows the details about the abundance of opportunities. I still can't forget the lady at @Ashesi who told me about African abundance.

I have seen magic done in 2001 with $285m raised all locally in a month for a deal. Over 20 years later, African startups are still hustling in a demo day abroad for thousands of dollars that other Africans already have to give but don't or can't. It is a complete mindfuck.

There is a reason African people don't believe too much of the good news. They have been brutalized and conditioned so much with bad news that it becomes their frame of reference. Where else can a train track be attacked twice in two days and nothing is said by the government?
ALL
Osaretin Victor Asemota
Osaretin Victor Asemot...
@asemota
One thing I am grateful about is the ability I have always had to keep living my life on my own terms without being drawn into trends. I am an obsessive extremist. I don't do middle ground obsession. When I love something, I don't do half measures. I can also do dislike that way.

What I have learned is that there are some trends you can't avoid even when you don't like the hype around them. One of those trends is crypto.

My boss @osuide ALWAYS without fail, predicts big things in tech. He introduced me to the Internet with my first infoweb account.

He introduced me to crypto too in spite of my misgivings. I bought $300 bitcoin and promptly lost it. The fact that I could lose something valuable that easily was my pain. I didn't at first see the bigger picture of custody aggregation. This was before coinbase became a thing.

I had actually searched for the domains ”bitbase” and ”coinbase” and maybe I even owned one of both domains at some point, I can't remember. I was, however, a very early adopter who dropped off when it seemed to become a fad. I was even on some ICO advisory board at some point.

I remember I wrote to @iaboyeji and @TechProd_Arch to take it seriously at Flutterwave. I also had a chat with one of the founders of the local exchanges about not using the .ng domain and using .africa to avoid the Nigerian government and their potential issues.
LIFE
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Osaretin Victor Asemota
Osaretin Victor Asemot...
@asemota
I am in a meeting now that is so annoying but I want to take my mind off things that upset me to talk about love and marriage.

I have been listening to people talk in many @joinClubhouse rooms about what they expect from potential partners and laugh very hard each time.

I laugh because those expectations are what keep a lot of people single. Being single is also not a bad thing as I have been more single in my lifetime than I have been in relationships. I also learned a lot about what kept me single for all those years. It was largely idealism.

Let me digress a bit to one of the pivotal encounters in my life when someone literally came out of the darkness to evangelize to me.

He deliberately ran towards me to deliver a message as if he had been sent on an errand. He told me that God doesn't want perfection.

He said, God wants us to strive towards perfection but knows we will never attain it. He said I should not beat myself up whenever I don't measure up but I should remain trying. It is the act of trying that is desirable. God is the only perfection and we strive to be like God.

I became an Atheist after that conversation. I took the opposite direction in search for perfection. In a roundabout way, it led me back to faith.

That is also my story of love and relationships. The best came at my most skeptical moment after I gave up on everyone else.
WORLD
Osaretin Victor Asemota
Osaretin Victor Asemot...
@asemota
Sometimes I wonder if we should be building certain types of African organizations with obvious gaps in people resourcing?Then I remember what my uncle and his friends did for the financial sector with MAYO and PTC.

Edtech has actually been in Africa longer than we think.

MAYO/PTC was actually the first Ed-Tech company in Nigeria and also the first place I worked and did my NYSC. We took UK accountancy and banking institute materials and used tech to modify and republish local versions of study text for students preparing for professional exams.

We also provided prep classes and corporate training. This was how we also started @SwiftaSystems, it was initially from tech training before we moved to product development and services.

For tech, we were self-taught but we created a new market for ourselves with education.

Education ALWAYS comes first before adoption when it comes to tech. We aren't doing nearly enough at the moment. Everyone wants to build products for the educated market and ignore the uneducated market. Uneducated doesn't mean formal school, it is about industry and paradigms.

Current Ed-Tech initiatives are focusing on basic education but market education is a significant opportunity. No matter how simple you think your product is to use, there will be many who will not use it until they understand the fundamentals and why it exists at all.
WORLD
Osaretin Victor Asemota
Osaretin Victor Asemot...
@asemota
There is this inertia that most people in business who think they are successful have that prevents them from acting on things until it is too late. It is why they are caught unawares by change.

I read ”Only the paranoid survives” and I am seeing it play out in real life again.

Constant paranoia doesn't mean acting like a crazy person or even a mean and greedy person. It means that you are constantly aware that adverse change can make you irrelevant very quickly. The speed of irrelevance is much faster now and it largely depends on team types.

Some teams can be deluded. They believe too much in themselves because of past glory that it clouds their ability to see future danger. When the unexpected finally happens, they turn on each other and blame themselves and abandon the ship. They have always been living a lie.

Some teams can be totally ignorant of what is happening around them and can have tunnel vision. They end up working on products that have become irrelevant before they finish. They still believe somehow that others will adapt to them and csnf understand why failure happens.

Some teams can have extreme keyman risk. One person knows most of what needs to be done and nothing works well when that person is not in the picture. This type is more prevalent than we can imagine. Once one person takes more initiative, others just become passive.
LIFE

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அன்பெழில்...
@anbezhil12
#ஆதித்தியஹ்ருதயம் ஸ்தோத்திரம்
இது சூரிய குலத்தில் உதித்த இராமபிரானுக்கு தமிழ் முனிவர் அகத்தியர் உபதேசித்ததாக வால்மீகி இராமாயணத்தில் வருகிறது. ஆதித்ய ஹ்ருதயத்தைத் தினமும் ஓதினால் பெரும் பயன் பெறலாம் என மகான்களும் ஞானிகளும் காலம் காலமாகக் கூறி வருகின்றனர். ராம-ராவண யுத்தத்தை


தேவர்களுடன் சேர்ந்து பார்க்க வந்திருந்த அகத்தியர், அப்போது போரினால் களைத்து, கவலையுடன் காணப்பட்ட ராமபிரானை அணுகி, மனிதர்களிலேயே சிறந்தவனான ராமா போரில் எந்த மந்திரத்தைப் பாராயணம் செய்தால் எல்லா பகைவர்களையும் வெல்ல முடியுமோ அந்த ரகசிய மந்திரத்தை, வேதத்தில் சொல்லப்பட்டுள்ளதை உனக்கு

நான் உபதேசிக்கிறேன், கேள் என்று கூறி உபதேசித்தார். முதல் இரு சுலோகங்கள் சூழ்நிலையை விவரிக்கின்றன. மூன்றாவது சுலோகம் அகத்தியர் இராமபிரானை விளித்துக் கூறுவதாக அமைந்திருக்கிறது. நான்காவது சுலோகம் முதல் முப்பதாம் சுலோகம் வரை ஆதித்ய ஹ்ருதயம் என்னும் நூல். முப்பத்தி ஒன்றாம் சுலோகம்

இந்தத் துதியால் மகிழ்ந்த சூரியன் இராமனை வாழ்த்துவதைக் கூறுவதாக அமைந்திருக்கிறது.
ஐந்தாவது ஸ்லோகம்:
ஸர்வ மங்கள் மாங்கல்யம் ஸர்வ பாப ப்ரநாசனம்
சிந்தா சோக ப்ரசமனம் ஆயுர் வர்த்தனம் உத்தமம்
பொருள்: இந்த அதித்ய ஹ்ருதயம் என்ற துதி மங்களங்களில் சிறந்தது, பாவங்களையும் கவலைகளையும்


குழப்பங்களையும் நீக்குவது, வாழ்நாளை நீட்டிப்பது, மிகவும் சிறந்தது. இதயத்தில் வசிக்கும் பகவானுடைய அனுக்ரகத்தை அளிப்பதாகும்.
முழு ஸ்லோக லிங்க் பொருளுடன் இங்கே உள்ளது https://t.co/Q3qm1TfPmk
சூரியன் உலக இயக்கத்திற்கு மிக முக்கியமானவர். சூரிய சக்தியால்தான் ஜீவராசிகள், பயிர்கள்
ALL
Amit Schandillia
Amit Schandillia
@Schandillia
[THREAD: HISTORY OF THE HINDU TEMPLE]
1/102
Four hours south of Aswan in Lower Nubia, right by the Nile, is a region dotted with temple complexes built more than 3,000 years ago. Some like the temples of Amada, Derr, and Beit el-Wali go as far back as 1500 BC.


2/102
A little further south, not far from the border with Sudan, is another complex dedicated to Ramses II, Hathor, and Nefertari in the village of Ipsambul, better known locally as Abu Sunbul and internationally as Abu Simbel. These go back to the 13th century BC.


3/102
Djeser-Djeseru, also known as the mortuary temple of Hatshepsut in Upper Egypt also dates to 1400 BC. Over 500 years older is the nearby Mentuhotep II, also a mortuary temple. Both were dedicated to the cult of Amun Ra, besides their respective pharaohs.


4/102
Far older is the Ġgantija complex of Malta. Going as far back as 3600 BC, this one comprises of two temples entirely made of stone and enclosed in a stone wall. From the figures therein, it's understood to be a site of some kind of a fertility cult worship.


5/102
Dating from the same period are the limestone megaliths of Ħaġar Qim and Mnajdra, both said to have once hosted ritualistic sacrifices as part of the same fertility cult worship as found in the Ġgantija complex. Malta has some of the oldest temple complexes in Europe.
RELIGION
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Ankur Patel
Ankur Patel
@AnkurPatel59
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Max Fagin
Max Fagin
@MaxFagin
November is here, and that means a massive shift is coming. And by "massive" I am of course referring to the redefinition of the kilogram unit of mass that the world has been building up to for more than 100 years. Let me explain:


1/ I've had an unhealthy fascination with metrology (the study of measurement) ever since my 2nd year as a physics major when I took a class devoted to duplicating historic physics experiments, so please indulge me for going into heavy detail (get it?) about the kilogram.

2/ So what actually *defines* a unit of measurement? If you're American, you probably know a mile is 5280 feet and a foot is 12 inches and an inch is 2.54 centimeters etc. But where does this chain of definitions end? Is it turtles all the way down?

3/ It's actually not! For all units (even the imperial units used in America) the answers all end with the Système International (SI) unit definitions established and maintained for over 100 years by the Bureau International des Poids et Mesures (BIMP) in France.

4/ At the base of this tower are the SI base units. Just 7 SI base units define every other unit in existence. They are:

Kilogram, kg (mass)
Meter, m (distance)
Second, s (time)
Kelvin, K (temp)
Ampere, A (electric current)
Candela, cd (luminous intensity)
Mole, mol (quantity)
SCIENCE
David Rothkopf
David Rothkopf
@djrothkopf
If there is one thing I have learned it is that people love bullshit. They buy bullshit stories from professional bullshit artists, accept bullshit philosophies, purchase bullshit how-to-books, vote for bullshitting politicians.

At first, I resisted believing this because it is illogical and dumb and frankly, doesn't reflect well on the human race of which I am a member (and thus have long been hopeful that it is more of a distinction than it actually turns out to be.)

But if you actually are interested in facts you begin to notice how little most people care for them. Sometimes it is because they are heard to learn and bullshit is so much more widely and easily available. Sometimes it is because facts make them uncomfortable about themselves.

Sometimes it is because just one tiny fact will upset a whole worldview that has grown as comfortable as an overstuffed chair. (Settling into such worldviews is a lot like settling into chairs like that because the longer you're there and the deeper you sink...

...the harder it is to hoist yourself up and out of your fat-assed intellectual laziness.) But I actually think the reason people have such an appetite for bullshit goes deeper, goes to an aspect of ourselves we just can't accept.
LIFE