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Facebook, Instagram, WhatsApp Outage Defines Mark As Tech King

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Facebook, Instagram, WhatsApp Outage Defines Mark As Tech King
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Facebook, Instagram, WhatsApp Outage Defines Mark As Tech King

At about 16:00 GMT on Monday, October 4, smartphone users around the world noticed a lull in Facebook, Instagram and WhatsApp updates, the second time in 2021. In Nigeria, many initially thought it was the periodic outage of network services. There is high data usage in the country of 200 million people but telcos and internet providers are generally criticized for slow data connection.

Amid the confusion, phone owners restarted their device(s) in a bid to “find network”. Within an hour or two, information spread that Airtel, Etisalat, Glo and MTN were not guilty as charged in this instance. Facebook, Instagram and WhatsApp were down! Family, friends, colleagues and neighbours were left with no option but to fall back on “normal call”. The phrase was coined and made popular after the launch and subsequent dominance of WhatsApp voice and video calls.

I jokingly told a pal that telecommunications companies in Nigeria would be happy “now that people must buy call credit”; I’m sure they made hundreds of millions that day. I further observed that despite confirmation of the social media platforms dormancy, users were jittery about the chats, documents, images and information in their accounts. “An ongoing hack”, some fumed.

Eventually, the downtime, which affected around 3.5 billion people, was fixed at about 22:00 GMT. Mark Zuckerberg has apologized for the internal technical issue. “Sorry for the disruption today. I know how much you rely on our services to stay connected with the people you care about”, he said in a post.

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News about his loss of $6billion in Facebook shares-dive went viral. A Facebook user in Nigeria, King Prestige, contested the figure. “It’s a lie. If this man makes such, per some number of hours, what stops him from being the richest man? The richest is worth 200bn dollars if am not mistaken.” The comment generated more than 50 interesting replies in 5 hours.

The debate of whether Mark Zuckerberg lost $6billion in 6 hours or did not will continue. One thing we can at least agree on is that the American tycoon, internet entrepreneur and philanthropist is the Tech King of his generation. The fact that he founded, cofounded, purchased or invested in the three apps that shut out close to half of the world’s population – including his “rivals” – would make him an unopposed member of the “Planet Earth Board” if there was one.

Facebook currently has a market cap of over $1trillion and 2.8 billion active users monthly. Instagram, worth an estimated $100billion, has 1.3 billion active users monthly. Facebook acquired IG for $1billion in 2012. WhatsApp, the most popular messenger app in the world with 1.6 billion active users monthly, was worth $5billion in 2020. In 2014, Facebook bought the startup from Jan Koum and Brian Acton – two former Yahoo! executives – in a $19 billion deal.

The ingenuity, rise and influence of Mark Zuckerberg and the likes should serve as a reference for countries, especially in Africa. They must heavily invest in education to boost the capacity and knowledge of hundreds of tech gurus yet to be discovered. The laxity of governments on the continent is the major factor causing brain drain.

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In November 2017, President Muhammadu Buhari presented the N8.6trillion 2018 ‘Budget of Consolidation’ 2020 to the National Assembly; Education got N605.8billion (7 per cent). As expected, Nigerians complained it was below the United Nations Educational, Scientific and Cultural Organization (UNESCO) “recommendation”.

Defending the allocation, Education Minister, Adamu Adamu told reporters that UNESCO never fixed a benchmark. “I led the Nigerian delegation to UNESCO and the issue came up. UNESCO said they never, at any fora and under any circumstances, suggested 26 per cent as the optimal level of funding for education for any nation.”

However, a UNESCO report, titled ‘Education for All 2000-2015: achievements and challenges’, notes: “Direct aid to education plus 20% of general budget support (aid provided to governments without being earmarked for specific projects or sectors) to represent the estimated 15% to 25% of budget support that typically benefits the education sector.”

Also, the United Nations Children’s Fund (UNICEF) Eastern and Southern Africa Regional Office Social Policy and Education Working Paper December 2020 provides that for the Sustainable Development Goal (SDG) 4 to be achieved, all countries have the responsibility to sustain a certain level and quality of public investment in education.

Facebook, Instagram, WhatsApp Outage Defines Mark As Tech King

“While external support is critical in the short term, domestic revenue mobilization is the most sustainable way of investing in education. If anything, COVID-19 should strengthen the resolve of ESA governments to keep education on top of their spending priorities by meeting or exceeding the 20% minimum education spending as a percentage of total government expenditures or 4-6% of their GDP”, it reads.

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The Nigerian government must increase budgetary allocation to education if it is truly interested in global competition. Those in positions of authority should stop gaslighting the young citizens with the “youths are the leaders of tomorrow” line. It will only make sense if adequate resources are earmarked to help them grow intellectually.

I urge the federal government, 36 states and the Federal Capital Territory (FCT) to start/renew the establishment of Special Schools. These institutions, which can be tuition-free or highly subsidized, will take in kids exceptional in different fields such as architecture, building, engineering, environment, health, information technology, natural and physical sciences.

I maintain that the insistence of being the ‘Giant of Africa’ will remain lip service without conscious effort to aggressively upgrade all facets of the economy. It’s like football: games are not won based on club status, players’ names or statistics, they are won by tactics, cohesiveness and determination.

Nigeria has many more hidden Iyinoluwa Aboyeji (Flutterwave), Ezra Olubi and Shola Akinlade (Paystack) and other young techpreneurs, their potentials must be harnessed. Millions of youths were delighted when Stripe’s acquisition of Paysatck for $200million made headlines in mid-October 2020. Interestingly, it was during the End SARS protest against police brutality.

The story of how Mark Zuckerberg attended the prestigious Harvard University and later dropped out of the Ivy League school to focus on his dream is not new. He remained loyal to his dream and is a success story. Married to Priscilla Chan, the 37-year-old is now worth $123billion. Take a bow, Mark.

Dailytrust.com

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Crypto crashes because of black Friday discount

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Crypto crashes because of black Friday discount

Cryptocurrency prices are tanking this morning, with some of the biggest coins recording double-digit percentage drops as the global Black Friday discount shopping event gets underway and fears over a new Covid “variant of concern” spread. The combined crypto market has dropped under $2.5 trillion, down from a peak of around $3 trillion earlier this month.

24-hour crypto market snapshot
Bitcoin (-7%) $53,793
Ethereum (-10%) $3,959
Avalanche (-18%) $103.12
Cro (-19%) $0.6518

The bitcoin price is this morning off by over 7%, with ethereum down by 10%. Bitcoin is quickly falling towards $50,000 while ethereum has edged below the closely-watched $4,000 level. Bitcoin’s price fall comes amid a sharp dip in its hash rate, a measure of the computing power directed at the bitcoin network. Quantum Economic’s Jason Deane spotted the decline.

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Fidelity Leaderboard
Ethereum rivals Binance’s BNB, solana, cardano and polkadot are all down by more than 10% with recent big gainers Crypto.com’s cro and avalanche down by almost 20% since this time yesterday.

Expect a lot of “buy the dip”-style advice from price boosters on Twitter and YouTube today and over the weekend amid claims of a crypto “Black Friday sale.”

Metaverses, the idea that we’ll all soon be living in a virtual world accessed via the likes of social media giant Facebook and VR headsets, could eventually create $1 trillion in annual revenue across the advertising, digital events, e-commerce and hardware industries, research from crypto investment company Grayscale has found.

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It matters because as people’s lives move more online, digital scarcity, smart contracts and online ownership created through bitcoin, other cryptocurrencies, and non-fungible tokens (NFTs) will help form the foundations of the virtual economy. Video games are already embracing tokenization and Facebook’s rebrand under the Meta umbrella has kicked off a wave of interest in how digital assets will fit into the new virtual economy.

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Igbo Girl Becomes Pilot After Dad Said He’ll Jump Off Plane If He Sees Female Pilot.

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23 Year-Old Igbo Girl Becomes Pilot After Dad Said He’ll Jump Off Plane If He Sees Female Pilot.

Meet – Miracle Izuchuwu, 23-year-old Nigerian born Private Pilot, Commercial Pilot (candidate) and Flight Attendant at American Airlines. She recently joined the elite group of 7% of females and 1% of black female Pilots in the world.

Hear her story...

I grew up in a society that did not encourage young girls to dream big, career-wise.

In 2019, I had an encounter with an Airline Pilot while working as a customer service rep. He opened my eyes to the possibility of becoming a Pilot. A few weeks later, I went on a discovery flight that sealed it for me..

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I came home that day, called my father, and told him I was considering becoming a professional Pilot.

He said, and I quote: “if he gets on a plane and sees a woman as the Pilot, he would get off the plane”

words cannot explain the pain and confusion I felt. I needed that validation.

What if, in raising children, we focus on ability instead of gender?

In a world that wants us to whisper, I choose to shout.

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Electricity Consumers Not Required To Pay For Meters Under NMMP – NERC

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Electricity Consumers Not Required To Pay For Meters Under NMMP - NERC
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Electricity Consumers Not Required To Pay For Meters Under NMMP – NERC

The Nigerian Electricity Regulatory Commission says under the National Mass Metering Programme electricity consumers are not required to pay directly for the meters issued to them.

This is contained in a statement NERC issued in Abuja on Monday.

“We wish to reiterate that the NMMP designed to provide all consumers of electricity with meters is a policy intervention of the Federal Government supported by the Central Bank concessionary loans to Electricity Distribution Companies (DisCoS).

“This laudable initiative is still very much on course as a total of over 900, 000 units of meters have so far been installed under the takeoff scheme without any payment by benefiting consumers.

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“While this doesn’t cover many of the unmetered customers, we are pleased to inform electricity consumers that the next phase under which about four million units of meters would be procured from local meter manufacturers has commenced,” it said.

NERC and electricity albatross
The Commission further stated that pending the conclusion of the NMMP procurement processes and the commencement of manufacturing and installation, consumers may decide to acquire a meter from the Meter Asset Programme, the News Agency of Nigeria reports.

Electricity Consumers Not Required To Pay For Meters Under NMMP – NERC

NERC said that the regulatory framework approved by the commission under MAP/NMMP Regulation provides for refund of the cost of meter through energy credits to the customer at the time of vending.

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The commission said that the recently issued notice by the commission on the adjusted cost of the meter was designed to protect consumers from arbitrary pricing by MAP.

According to NERC, this is in the context of recent changes in macroeconomic parameters affecting the cost of production.

NERC advised that clarification be made from its Public Affairs Department on any regulatory matter to avoid misinforming innocent consumers.

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