A Look Inside Straits Clan -- Singapore's Newest Private Members Club
Singapore's Newest Private Members Club, Straits Clan, is a community of curious and passionate change-drivers and multi-hyphenates, hoping to connect with inspiring people they never otherwise would have met, under one roof.
KUALA LUMPUR (Aug 17): Kejuruteraan Asastera Bhd (KAB) surged as much as 5.5 sen or 22% to 31 sen after the electrical and mechanical engineering specialist reported that second quarter net profit more than doubled to RM3.27 million from RM1.34 million a year earlier.
KAB said net profit for the first half ended June 30, 2018 (1HFY18) rose to RM5.62 million from RM3.23 million a year earlier.
At 10:24am today, the stock pared gains at 28.5 sen with some 21 million shares exchanging hands.
Two well-meaning Facebook vigilantes are in a battle against scam accounts, and Facebook‘s response seems to be “Yeah, good job. Now keep doing it.” Kathy Kostrub-Waters and Bryan Denny are spending some of their precious free time finding fake accounts on the site — not the kind created by Russian trolls during the fake news blitz a few years ago, but the kind that use stolen photos to convince lonely hearts to send money to people they’ve never met. Kostrub-Waters and Denny told Buzzfeed they regularly present Facebook with their findings, and each time are disappointed to find Facebook hasn’t changed their… This story continues at The Next WebOr just read more coverage about: Facebook
Bill Gates believes the rules of supply and demand are changing faster than people and governments are adapting. We live in a world where an increasing number of products are “intangibles,” or products you can’t touch–like software and other digital content.
This kind of product is very different than the physical products our basic economic theory was built around. Intangibles scale differently. Once a developer has paid for the upfront costs of developing a piece of software, for example, they need only make as many copies as the market demands, and the copies cost virtually nothing. For a more traditional, physical type of product like a car–to use Gates’s example–the “copies” cost at least as much as the materials needed to make each one.
Gates outlined this distinction in a recent LinkedIn post–a review of a new book on the subject by economists by Jonathan Haskel and Stian Westlake called Capitalism Without Capital.
“What the book reinforced for me is that lawmakers need to adjust their economic policymaking to reflect these new realities,” Gates writes. “For example, the tools many countries use to measure intangible assets are behind the times, so they’re getting an incomplete picture of the economy.”
He points out that the United States didn’t start including software in its calculation of the gross domestic product until 1999. Haskel and Westlake, meanwhile, show in their book that the number of “intangible” products contributing to the economy began arcing upward around 1994, a trend that has accelerated in the 21st century. “Even today, GDP doesn’t count investment in things like market research, branding, and training–intangible assets that companies are spending huge amounts of money on,” Gates adds.
How to accurately measure economies is just one question. Other traditional beliefs should be rethought, says Gates. For instance:
Should intangible products be patented and trademarked using a different set of rules than physical products?
Should they be taxed differently?
Should competition be defined differently in markets for intangible products?
The concept of “intangibles” is nothing new, of course. What Gates and the authors of the book are suggesting is that governments must move faster to get in a position to regulate economies where “intangible” products are dominant.