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ANAND PARTHASARATHY’S TECH BLOG |
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| In Cyberia, it seems, nobody’s perfect! |
In Cyberia, it seems, nobody’s perfect! That famous last sentence in that classic 1959 comedy film “Some Like It Hot” – ‘Well. Nobody’s perfect’ – seems particularly prescient today, albeit in a totally different context -- the working ways and business ethics of those who lead the world’s biggest Internet-Age corporate entities.
In our wide eyed wonder at the technological wonders they have brought us , we in India tend to be uncritical fans and consumers of what Google and Facebook, YouTube and Twitter offer us. As lay users, we may be excused our naiveté; the sad thing is most sections of the media , particularly the print media, bring a similar touching innocence to their coverage of these technology giants – it’s always an easy option to fill space with syndicated stuff from so called American newspaper biggies, and Western wire agencies.
So, many of our so called tech-friendly media maharajas possibly missed a disturbing article by Rob Cox, in Newsweek magazine in March this year, entitled “The Ruthless Overlords of Silicon Valley” http://www.thedailybeast.com/newsweek/2012/03/11/the-robber-barons-of-silicon-valley.html which suggested that the so called saints of American Capitalism were rapidly morphing into something else -- the industrialist robber barons of the late 19th century. Cox cited the case of Apple that was rapped by the US Justice Department when it allegedly colluded with several publishers to set unreasonably high prices for e-versions of books . Google and Zynga, makers of the phenomenally successful game, Farmville, set a dubious trend where they segregated investors putting down the same amount of money, during their IPOs into first and second class, with vastly different voting rights.
In April Google founder Larry Page and Sergey Bin unveiled plans to issue new shares that would create a vastly enlarged shareholding base with no voting power at all ( there are already two types of shares, one with less voting power) – in effect ensuring that the founders and chairman Eric Schmidt, retained most of the voting rights. The new proposal comes up for vote at Google’s annual meeting this week, on June 21 – and indications are it will be passed without murmur. Institutional investors in such cash-rich corporates, in fact, lineup to surrender their own voting rights in favour of founder-members saying in effect : ‘Do the thinking and voting for us – as long as you make lots of money for us’. http://business.time.com/2012/04/13/google-founders-exert-control-with-stock-plan-as-profit-soars/
The same thing happened at the recent much-hyped Facebook IPO where the shares held by founder Mark Zuckerberg had ten times the voting power of equivalently priced shares bought by the aam janatha or lay population which fell over itself to buy Facebook stock. Such ethically grey operations no longer excite the attention of market regulators in the land of the free and the home of the brave.
Within this cosy coterie of owners who place themselves arrogantly above the rabble investors who sustain them, there is interestingly little mutual love. In an interview with The Guardian of London, the billionaire co-founder of Google, Sergey Brin, had the cheek to say Web freedom was facing its greatest threat from entities like Apple and Facebook which created restrictive ‘ app’ models within walled gardens. http://articles.timesofindia.indiatimes.com/2012-04-17/internet/31355251_1_larry-page-sergey-brin-facebook-and-apple
As it happened the Facebook IPO was not quite the Vasuki-like money-churning machine it was expected to be... and the overpriced stock settled into a more realistic price within hours of the opening. In fact, some analysts, watching the 27 percent nosedive of the Facebook share price, in the days since the IPO was floated, suggest that the social media model is already a has-been phenomenon – and that tomorrow belongs to whoever can monetize the gigantic global base of mobile phone users.
What is the lesson for us in all this? I believe we can must use all the empowering tools that these companies offer us – but we must not be blind to their own myopia when it comes to acceptable standards of corporate governance. It is arrogant in this fast paced technological era for any one person, or agency to assume he, she or it, is indispensable or above the principles of fair play.
Indian companies now compete at the top of the global IT table. The leaders have good reputations for corporate governance and ethical practice. But I am uneasy when I have to report that Infosys selects a member of the selection committee himself, as its new Chairman, thus making nonsense of his neutral role as an outside expert; I am not enthused by media reports last week quoting Wipro’s founder chairman hinting that his own son might succeed him in a few years, without any suggestion of a due diligence to find a successor. http://www.business-standard.com/india/news/premji-says-his-son-rishad-may-succeed-him-eventually-/474974/
Our IT icons must not just compete with the best and brightest – they must show the world a superior and very Indian, corporate ethic that one day, will be held as an example to all --and that includes the Googles and the Facebooks who bend the rules of fair play, as and when it suits the bottom lines of their charismatic founders.
PS: My apologies for the break in sending this newsletter for some weeks. We have some unexpected problems in our task of migrating to a new server with increased capacity to fuel our upcoming Video channel. Things are sorted out – almost -- and we will be back on our regular schedule I promise! |
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IT HAPPENED IN INDIA |
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Danish supermarket leader opts for Infosys e-commerce solutionInfosys digital commerce solutions will underpin the retail commerce experience of customers of Denmark’s largest retail group, with over 1,300 stores Denmark, Sweden, Germany and Poland -- Dansk Supermarked. http://indiatechonline.com/infosys-e-biz-solution-for-dansk-supermarked-778.php
CMC's container handling system to drive London Container Terminal: The Tata enterprise, CMC, is to provide infotech muscle to the London Container Terminal (LCT) .
Forth Ports Limited, owner of the Port of Tilbury, announced on Monday that its new acquisition, LCT, will deploy CMC’s Marine and Container Handling (MACH) system as part of a new and comprehensive Terminal Operating System. http://indiatechonline.com/cmc-system-for-london-container--terminal-777.php
Nissan looks to Chennai-based Defiance Technologies for a dedicated social media command centre. Defiance Technologies a Hinduja group company providing product engineering and enterprise solutions, has launched what is arguably a global first for the automobile sector: a dedicated Social Media Command Centre for Japan-based auto giant Nissan. http://indiatechonline.com/it-happened-in-india.php?id=772
Airtel buys out Qualcomm wireless broadband biz in India to acquire pan-India footprint. India-based global telecomcompany Bharti Airtel has acquired in the Indian broadband wireless access (BWA) entities of mobile technologies leader, Qualcomm. This will give Airtel access to Qualcomm’s licenses to roll out broadband wireless in the metros Delhi and Mumbai and the states of Haryana and Kerala. http://indiatechonline.com/it-happened-in-india.php?id=765
Bhaji on the beach? We are like that only, say Indians: Expedia study. While the quintessential global traveller relaxes on a beach, Indiansprefer beach vacations with ‘new experiences’. They also take friends and parents along. They lead the world when it comes to massage, surfing or beach dining on their sand filled holidays.
These are some of the eyebrow raising findings of a survey and analysis of the of behavior and preferences among beachgoers in Asia, North America, South America, Europe and Australia, conducted by Expedia, the world’s largest online travel agency. http://indiatechonline.com/it-happened-in-india.php?id=763 |
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IT’S FOR YOU… IT NEWS YOU CAN USE |
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Nokia's super camera-phone comes to India.Nokia has brought its latest smartphone -- Nokia 808 PureView—to India, a phone that is more camera than communication. With a 41 megapixel sensor, Carl Zeiss optics and Nokia’s own Pure View technology, the 808 seems to be pushing the imaging experience as its USP. http://indiatechonline.com/nokia-pureview-808-454.php
Idea woos 'upwardly mobile' buyers with a dual-SIM 3G smartphone. India’s no 3 mobile service provider, has followed up on its launch of own brand 3G phones last year, with an Android-based dual-SIM smartphone this week – the ID-981. http://indiatechonline.com/it-for-you.php?id=456
UK-crafted, Indian inspired KloudPad tablet debuts in Kerala. Yet another Tablet PC – this time fuelled by Indian innovation in the UK. The Shikky brothers Abhishek and Aromal, with roots in Kerala, crafted the KloudPad in Canterbury, UK, with help from the Chamber of Commerce in Kent. It claims to be the first with a built in 3G SIM slot. http://indiatechonline.com/it-for-you.php?id=442 |
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AVAILABLE IN INDIA: PRODUCT REVIEW |
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Amkette's EvoTV helps 'smarten' your TVIndian storage and multimedia technology leader, Amkette, the has launched – EvoTV -- a first-of-its-kind television accessory device that lets users put ‘smart’ features including Internet into non-smart TVs. http://indiatechonline.com/amkette-evotv-129.php
Bladeless fan: an elegant option for computer-tethered professionals. An elegant new table top fan that is available in India, mostly through online buy sites and shops selling "imported" gadgets will make for a --literally--cool new accessory on the desks of professionals . For that matter it will be a silent and nice looking bedroom gadget as well -- providing a uniform curtain of air, without the noise and jerky operation of conventional balde-based table fans. http://indiatechonline.com/dyson-bladeless-fan-128.php |
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INDIA IT… THE NUMBERS THIS WEEK |
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The India numbers from our exclusive Snapshot -- as on June 16 2012:
Total no. of phone subscriptions: 966 million
Mobiles 935 million
Landlines: 31 million
Total no. of PCs: 70 million
Internet accounts: 70 million (fixed); 25 million (on mobile phones)
Broadband: 14 million
Active Internet users: 200 million fixed + mobile Internet 40 millionTV owning houses: 116 million ( digital: 30 million)
Indian Media & Entertainment Industry 2012 FICCI-KPMG report http://www.indiatechonline.com/indian-media-&-entertainment--industry-report-2012-732.php |
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EVENT WATCH |
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TECHIES TIMEPASS |
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Book Review:Peddlers of Information: Indian Non-Government Organizations in the Information Age: By Tanya Jakimow; Kumarian Press /Stylus Publishing 2012 ( www.kpbooks.com ) paperback $ 24.95; e-book: $ 19.99.A disturbing, if timely take on how the tools of IT can bde used -- or misused -- by voluntary agencies. http://indiatechonline.com/it-for-you.php?id=449 |
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POSTED 2012-06-16
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