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Entertainment From The Editors Humor

100 Years of Fashion

Fashion by definition is Fashion is a popular style or practice, especially in clothing, footwear, accessories, makeup, body, or furniture. Fashion is a distinctive and often constant trend in the style in which a person dresses. It is the prevailing styles in behavior and the newest creations of textile designers. Throughout centuries Fashion has been altering the social, economic and political landscapes benefitting and stimulating our society and during the process has promoted creativity.

Fashion in its earliest days was quite different than what it is now mainly because of the cultural diversity; but now that owing to the modern technologies the world has become a modern village fashion trends around the world can be observed to be quite similar.

The 1910s

1910 fashion - TimelyBuzz
1910 fashion – TimelyBuzz

The 1910s were known as the Era of the Nouveau Styled figure, meaning the “new style” and fashion back then was very conservative characterized by tall, stiff collars and broad hats. Materials like silk, linen, cotton and wool were quite common. In the year 1908, the stereotypical “S” shaped figure of women pulled into place by corsets was replaced by a much straighter and a natural look and the frills and the flounces of the previous decade were replaced by the hobble skirts which were a trend until late 1915.

On the right is quite popular Hobble Skirts of the early 1910s. Later on, the Fuller Skirts took the women by storm and replaced the Hobble skirts with their cut just above the ankles which made them more appropriate for both casual and outdoor wear.

1910s Outdoor wear

In the year 1914, the first world broke out altered the fashion trends of the 1910s and the dresses were now designed more by necessity than fashion. With the war came the neutral colors of wartime and particularly black which was quite common in the dress modes highlighted the need to mourn to mourn the increasing numbers of dead.

A poster highlighting the role played by the women during the first world war.

For the men, the fashion trend in the 1910s was not much different from what it is today. The crisp shirts, high collars, and bold stripes were a typical style with short, well-groomed hair was the popular look. The fabrics were all wool with hints of striping, checks, and plaid. The sack suits worn by men in the 1910s were long, plain, loose fitting (some might say baggy) suit jackets with wide lapels and a one to three button closure, a little similar to the modern suits which are slightly fitted and a little shorter in length. It was also a trend to wear a matching waistcoat or vest along with the suit. Topping a man with a hat was the last bit of fashion a well-dressed man required. The trendy colours in the era for the men were dark navy, grey, green and brown.

The 1920s

1920 fashion TimelyBuzz
1920 Skirt Style – TimelyBuzz

After the end of the first world war in 1918, the United States Of America benefitted from its role in the war. The optimism brought along by the end of the war relaxed the social customs and morals and the economy boosted. The fabrics used during this decade were wool, silk, cotton, rayon, georgette, and knits. During the Roaring ’20s, the style was a bit looser, with sleek, clean lines. The most memorable fashion trend was “the flapper” look. The flapper dress was functional and flattened the bust line rather than accentuating it .The straight-line chemise topped by the close-fitting cloche hat became the trending dress. The women were cutting their hair into bobs and wore iconic cloche hats. In the year 1925, “shift” type dresses with no waistline emerged breaking the norms and towards the end of the decade, dresses were being worn with straight bodies and collars.

The trending Chemise Dress that hung from shoulder to just below the knee with the waist dropping to the hips.

For the first time in centuries, women’s legs were seen with hemlines rising to the knee and dresses becoming more fitted. A more masculine look became popular, including flattened breasts and hips, short hairstyles such as the bob cut, and a more boyish figure.One of the first women to break the norms and wear trousers, cut her hair and reject the corset was Coco Chanel. She is believed to be the most influential woman in a fashion of the 20th century, Coco Chanel  and is said to do much for the liberation of women’s fashion.

Chanel wearing a sailor’s jersey and trousers breaking the typical norm of women wearing dresses in the 1920s.

Chanel-sailor-jersey-trousers
Chanel Sailor’s Jersey Trouser – TimelyBuzz

In the dapperness of the Roaring ’20s the men’s fashion was the start of the menswear as we all know it today. In the dapperness of the Roaring ’20s the men’s fashion was the start of the menswear as we all know it today. An essential part of the men’s wear throughout the course of time has been his suit. The distinctive qualities about the men’s suit during the 1920s were the fitting and the quality of the suit.Suits were mostly made of thick wool or a wool tweed and pants made of wool based flannel which made them heavier than today’s suit materials but lighter than the previous decades. Suit jackets were either single or double breasted and featured 3 or 4 buttons up the front. The top button came to the center of the heart giving way to notch lapels. The highness of the suit lapels is what really sets 1920’s suits apart from suits of other eras.

1930s

Double Breasted Overcoats - TimelyBuzz
The double breasted overcoats trending in the 1930s.

In the 1930s the waistline made a comeback to the fashion trends. Also, the Great depression led to fabric rations, therefore, dresses were slimmer with more movement. Fur and floral patterns were quite trending during that era and makeup was an important element in getting dressed up. Shoulder pads were the new trend until the late 1930s. Trending in the menswear was sporting fedoras and double-breasted overcoats.

1940s-1980s

The Utility Suit.
In the 1940s the women’s fashion had wide padded shoulders, nipped in high waist tops, and A-line skirts that came down to the knee trending. With the start of the second world war, there was a strict rationing on the fabric which leads to the shortening of the dresses up to the knee length. Even the pants had a similar shape and the 940s fashion was mainly about wide shoulders tiny waists and full hips. In the 40s Utility, suits became a thing so women could, therefore, mix and match different components to wear.

Utility Cloth Fashion 1943 - TimelyBuzz
Utility Cloth Fashion 1943 – TimelyBuzz

Following the war, in the 1950s the fashion trends saw a resurgence of haute couture. And the trends varied greatly, many of the old school styles from the 1920s made a comeback while there were also some new trends introduced.

In the early 1960s, the trend was more like conservative and restrained and towards the classy style while the drastic change in trend made it completely opposite in the late 1960s with the bright swirling colours, psychedelic, tie-dyed shirts and long hair and beards were trending hot.

 

Women were observed to be wearing short skirts while menswear included capes and tunics.

1980 Double Press Suit - TimelyBuzz
1980 Double Press Suit – TimelyBuzz

In the early 1970s, the trend of bright colours on polyester continued and men and women were seen wearing tight fitting pants and platform shoes. By 1973 some women were also wearing high cut boots and low cut pants.

Tunics, culottes, and robes were all very popular. The trending fashion included chest hair, medallions, butterfly collars, bell bottoms, skin-tight T-shirts, sandals, flower patterned dress shirts and tennis headbands. By 1979, the colour almost disappeared and shades like gray, white and black were back in full force.

1980’s was the time of double press suit. Army, officers, teachers all were seen wearing the double press suit.

Bright colored accessories like the sunglasses, bangles, and hoop earrings were a necessity of the 1980s. Teased hair, loud makeup, and neon were trending. For the men, the clothing was snug fitting and comfortable. Soft fabrics were used everywhere.

Vintage Suit Fashion
Vintage Suit Fashion – TimelyBuzz

1990s-2000s

Fashion trend in the 1990s was loose fitting and colorful. Tapered pants, big T-Shirts, and extra long shorts were a thing back then. Boys and Girls both had the trend of wearing baseball caps in different ways. Clothes worn by many hip hop singers was quite trending. Opposed to this was the grunge or the punk look which saw color as its enemy. The clothing style in the 1990s is not much different from what it is now, back then as well as now singers and designers had a major influence on what people wore.

1990s Famous Grunge Style - TimelyBuzz
1990s Famous Grunge Style – Source

The 2000s fashion is described as being a ‘mash-up’ of different styles from the previous decades, the Hip Hop fashion culture being the most famous. Now in 206, almost anything you wear works up as the fashion trend, just don’t forget to take a selfie.

The 2000s trend of selfies
The 2000s trend of selfies – TimelyBuzz
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From The Editors

Creating a Culture of Gender Equality

Ever since god created the universe and created Adam and Eve the question of man and woman being equal has become increasingly debatable. It is the official start of gender equality issue. Many men argue that if women were superior or equal to men then god would have made woman first.

As time progressed women took on a more subservient role first that of a daughter , then a loyal and faithful wife and then as a loving and caring mother.

Her work involved performing all domestic chores, cleaning, washing, cooking  and maintaining the house in proper condition.

Women had no say in worldly  matters, politics, government, commerce which for  centuries was the domain of the man.

Of course, there have been exceptions where women of royalty or privileged backgrounds have  dominated the world stage such as Isabella of Spain whose patronage of Christopher Columbus helped him discover the new world in what is the present-day the USA.

Queen Elizabeth, I who ruled England  at the height of England’s glory days under whose reign the Spanish Armada was defeated.

However, the average woman  always felt  restricted and confined  and never felt equal.

Throughout the ages, women have relentlessly crusaded for gender equality demanding  not to be judged on the basis of their sex.

What actually is gender equality, which is also defined as sex equality, gender egalitarianism, sexual equality, or equality of the genders.

It is a generally held view  that everyone should receive equal treatment and not be discriminated against on  the basis of gender .This is one of the objectives of the United Nations  Universal Declaration of  Human Rights which seeks  to create equality in law and in social situations, such as in  democratic activities and securing equal pay for equal work.

It is perhaps in the last 100 years the terms Suffragettes, feminism, sexist or other gender-related remarks were heard.

Suffragettes were members of women’s organizations in the late-19th and early-20th centuries which advocated the extension of the “franchise”, or the right to vote in public elections, to women. It particularly refers to militants in the United Kingdom such as members of the Women’s Social and Political Union (WSPU). Suffragist is a more general term for members of the suffrage movement.

In the western world it can be said that gender equality has made significant strides especially in the European countries, Canada and the United States of America where women have actively struggled for their rights and laws have been promulgated protecting women in their homes, at the workplace, particularly in cases of sexual harassment, granting them rights to proceed against any form of gender discrimination  In the sixties and seventies women came out in street  burning bras as a symbolic gesture to demand equality.

They even demanded that when a man is unmarried he is called Mr and even after  marriage he is called  Mr whereas in case of females they are called Miss when unmarried and Mrs when married and this should change and so now in the west  a married woman has the right to call herself  Ms or Mrs as she so chooses.

There are some countries that have achieved a high example of gender equality for example  Finland where women have been accorded very high opportunities in public and professional life but at the same time they have a very weak record on violence against women.

Women or gender issues are multifarious and even in countries where the status of women is very high many issues need to be addressed the two major ones being sexual violence and spousal abuse.

Japan has made a lot of progress with its feminist movement which has resulted in the Gender Equality Bureau where women can have their grievances redressed

However, in the lesser developed countries of the world as in Asia and Africa, It is a harsh and very sad fact that despite this day and age gender equality is virtually non-existent.

In the Middle Eastern countries and the Subcontinent, women have  the far way to go even before it can be said that they have attained the same semblance of gender quality. Firstly it is a sad fact that cultural preference in this part of the world is for a male child even in China.

In India ,Pakistan and other parts of Asia the birth of a girl child is frowned upon as families prefer males to carry on family and where patriarchal culture is predominant. Cases of  female feticide are one of the highest in India where the female fetus is aborted.

Another very disturbing feature with regard to women is honor killings where women are brutally murdered for  what male members of the family say besmirching the honor and name of the family. In Pakistan, Vani (forcible marriage of young child brides to members of another clan or tribe to atone for the sins or crimes of a male member of her tribe),  Haq Bakhshish (Marriage to the Holy Quran, the holy book of Muslims simply to prevent female members to claim their share of property if they marry outside the family.

Lack of  education, abject poverty, slave bondage and a feudal mindset contribute to the miserable circumstances women find themselves in that part of the world.

Pakistan, where there is a growing female population and Benazir Bhutto, the Oxford and Harvard educated, was elected twice as Prime Minister very little could be achieved with regard to women’s issues and their mistreatment.

Although human rights groups, NGOs,  the United  Nations, women’s are doing their best to alleviate the sufferings of the women the situation is still abysmal.

Religious and social taboos, superstitions and sheer illiteracy are also factors that play a major role in the miserable plight of women especially in the rural areas in the sub-continent.

So what exactly can be done to create a culture of gender equality where it is needed to be addressed the most.

They say that education is the panacea for  all evils but unfortunately the underdeveloped countries have not given much importance and allocated only a minuscule portion of their annual budgets to education

Respect for women and their status in society must be ingrained into the minds of people. Women can not be treated as chattel or mere child breeding machines. Society must realize and believe in the famous saying  “If you educate a man you educate an individual, You educate a woman you educate a family”.

In all religions the status of women is equal to the man and religious scholars must play an active role in preaching this vital point to the population at large. The government must promulgate anti-honour killing laws, anti-discriminatory laws,  Child marriages, spousal abuse and other despicable practices.

In Africa the issue of  Female Genital Mutilation, a barbaric practice is very common where young women who reach puberty hair circumcised to prevent them having sex.

UNICEF has estimated that 200 million women have undergone this procedure up to 2016. It is being practiced in 27 countries in Africa, as well as in Indonesia, Iraqi Kurdistan and Yemen, with a rate of 80–98 percent within the 15–49 age group in Djibouti, Egypt, Eritrea, Guinea, Mali, Sierra Leone, Somalia and Sudan.[3] The practice is also found elsewhere in Asia, the Middle East, and among communities from these areas around the world.

It is abhorrent and deeply rooted in gender inequality and attempts to control women’s sexuality and ideas about purity, modesty, and aesthetics. It is usually initiated and carried out by women, who see it as a source of honor, and who fear that failing to have their daughters and granddaughters cut will expose the girls to isolation.

FGM has been outlawed or restricted in most of the countries in which it occurs, but the laws are poorly enforced.

The United Nations has tried to prevent the practice with partial success.

In the west, females have risen to the top as in the case of Angela Merkel, the powerful chancellor of Germany. Theresa May has become the leader of the UK and it is quite likely that a woman will be elected to the most powerful office in the world. The president of the United States of America. Women are emancipated, liberal in their views and men treat them as equals a lesson leaders of the underdeveloped countries need to understand.

Thus, promoting gender equality is seen as an encouragement to greater economic prosperity and progress and in 2008,  Arabs countries were warned that denying  women equality would jeopardize their return as ranking leaders in commerce, learning, and culture if they continue to retain their culturally accepted attitudes towards the status of women.

A lot has to be done if we really wish to promote and cultivate a worldwide culture of gender equality but the sad and harsh reality is we have a very long distance to reach our destination.

The onus lies on every individual to respect  women, give them their due status in society and treat them with equality. We all must contribute our share to gender equality.

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From The Editors Technology

How Yahoo’s Sale to Verizon is a Lesson Learned in Corporate World

The corporate world is like a vast ocean infested with killer sharks which devour smaller entities that take the plunge. It is the world where the cut-throat competition is so fierce that it is  survival of the fittest, dog eats dog,  all out war, no holds barred to get to the top.

It is a world of acquisitions and mergers, where the army of lawyers representing each side try to get the best deal  with their shrewd and cunning negotiation skills  before the final deal is penned not to forget their huge fees in the bargain.

Speaking of deals and takeovers, the most sensational  news  of the week, this week has been the buyout of  Yahoo  the Net giant by  Verizon wireless communications at a staggering price of 4.83 billion dollars.

Yahoo Inc, also known simply as Yahoo, is a treasure trove, the Fort Knox of  information technology with headquarters in Sunnyvale California. It is globally known for disseminating information through its web portal, search engine, Yahoo search and related services which include Yahoo mail, Yahoo news, Yahoo finance and other services and its social media website.

Yahoo is one of the most widely read news websites of the world extremely popular in the United States and with over 7 billion views per month, being the fourth most visited website globally, It is seen worldwide in 30 languages.

So the question arises, why has Yahoo shortchanged itself, once known as the king of Internet a $125 billion behemoth which in its time was as big as facebook and google are today.

Simply put, it is being said that Yahoo could not keep up with the times, despite being ahead  letting each wave technology in search , social and  mobile pass by. It could or rather did not adapt to the times.

Yahoo also has equity stakes in Alibaba in China and Yahoo Japan which it is retaining.

Marissa-Mayer-Yahoo-CEO
Marissa Mayer Yahoo CEO – TimelyBuzz

The current CEO of Yahoo is Marissa Mayer who tried her best to turn the company around and at present it is uncertain that the Verizon will retain or she will leave the company with an agreed severance pay of 50 million dollars.

The sale of the company was in the offing since quite some time and interested buyers included Warren Buffet,  the billionaire owner of WalMart and the Daily Mail but talks  were so prolonged that the deal fell through.

In  Febuarary, 2008, Bill Gates’s Microsoft  bid for a takeover of Yahoo at ten times, the current price that is 45  billion dollars was rejected by the company. How do fortunes fluctuate?

Yahoo Rise Fall Graph - TimelyBuzz
Yahoo Rise Fall Graph – TimelyBuzz

A 21-year history as an independent company comes to a close.  Yahoo will now be integrated with Verizon-owned AOL under Marni Walden, an executive vice president at the telecom company.

Mayer’s future in Yahoo is uncertain and her failure to energise and revitalize the company goes against her. There has been no comment from the company who will take charge once the deal is completed.

Although she has expressed her desire to continue with Yahoo, Mayer who joined as CEO four years ago is quite unlikely to be retained in the post and may be offered an alternate post.

AOL CEO, Tim Armstrong, has said that presently that he and Mayer were are focusing first on getting “the strategy right, and then the structure and the roles right.

Verizon has an eye on the future to become a global titan in  Digital Media. It is interested in buying Google and Facebook  in its future ventures.

Not confined to being mere sellers of  telephones and wireless services Verizon has set its sights on becoming a formidable media company.

Verizon will essentially end up being one of the largest portfolios of consumer brands in the world for digital.”

Verizon by acquiring Yahoo, are scaling up to be a major competitor in mobile media, according to Verizon CEO Lowell McAdam. Their target is to focus on mobile content which will attract young phone addicted  consumers who can turn into long term customers. It seems that the digital wars are on with every major player in the market set to capture a large portion of the digital world.

Assuaging the fear of investors, McAdam specifically pointed to the popularity of Yahoo’s mobile services, including sports, finance, and email.

“We just made an exponential leap in capabilities here,” said McAdam. He noted that people are using their phones more than ever before (Verizon sees the same amount of traffic on its networks in an hour now as it did in a week a decade ago) and that the company has an opportunity to monetize that volume as much as possible.

Verizon’s transformation has been in the works for years, but its investments have ramped up heavily in the past two years.

Verizon bought  America Online AOL for 4.5 billion, the same year it launched its own mobile video service Go90. And earlier this year, Verizon partnered with Hearst to invest in video-driven and millennial-focused media companies, Complex Media and AwesomenessTV.

Although Verizon sees Yahoo (YHOO, Tech30) as a complement to these investments, this most recent acquisition may not deliver as much as Verizon hopes.

Mayer, like Armstrong, previously worked at Google (GOOG) before taking over the top spot at Yahoo in 2012. She invested heavily in improving Yahoo’s mobile products, expanding its audience through the acquisition of Tumblr and doubling down on premium media content. She brought in TV journalist Katie Couric as Yahoo’s “global anchor.”

Yahoo over its 21 year run of the digital market made some acquisitions 10 of which are as follows:

  • com

An Internet video streaming services which it bought for 5.7 billion dollars in 1999. (more than the buyout  worth of Yahoo in 2016).

  • Geo Cities

A website creating a company for 3.6 billion dollars in 1998. Search Engines Company for 1.63 billion in 2003.

  • Tumblr

Bought  in 2013 for 1.1 billion dollars

  • Right Media

Online advertising Company in 2007 for 680 million dollars.

  • Kelkoo

Paris-based company in 2004 for 579 million

  • Hotjobs

For 439 million dollars in 2002.

  • e-groups

In 200 for 432 million dollars

  • Zimbra

Software maker in 2007 for 350 million.

  • 10.Interclick          

Bought in 2011 for 270 million It develops software for advertisers to better target customers online.

These companies initially were highly profitable in the initial stages but with time and dwindling sales they were either closed or sold off.

Advertising is the core revenue generator and sadly Mayer despite her best efforts could not control the slide in revenue. However, shares of Yahoo have plummeted and investors are not happy which is not a good omen.

What about the employees at Yahoo and how have they taken to the buyout. At this point feelings are ambivalent. Yahoo brought  on some media stars on its team like Katie Couric, Joe Zee, and David Pogue to boost its sales.

The exodus has already started  and Bobbi Brown  The Editor-in-Chief of  Yahoo beauty has already left. The beauty entrepreneur and make-up artist joined the site as editor-in-chief in April 2014 but, in a shake-up of the company, she is now leaving her position.

Beauty’s senior beauty editor Joanna Douglass and several other staffers in the beauty division have also left.

One redeeming feature for Verizon from buying Yahoo is that it has become the owner of a prime real estate in Silicon Valley. One expert valued Yahoo’s Sunnyvale, Calif., campus at about $500 million.

When the deal closes, the New York telecom giant will become one of the largest office landlords in the nation’s technology hub thanks to the roughly 1 million-square-foot campus Yahoo owns in Sunnyvale, Calif. — a desirable position amid the current tech boom.

This is a virtual goldmine and its present land value is estimated to be upwards of 500miliion dollars.

The deal of the sale will not be finalized before Jan 2017, however, Verizon is optimistic that it will turn the company around.

Pros and cons will be weighed heavily and many yahoo employees will be shown the door or leave voluntarily.

As for Marissa Mayer, She will presently be part of the team under the new bosses but the market speculation is that things do not bode well for her too,

The future may be in digital technology but it is essential to evaluate, assess, analyse the risk factors when expanding one’s base, Yahoo it seems did not do its homework properly and rushed to frantically expand and become a leading player in the Industry.

Many experts are already of the opinion that Verizon’s latest acquisition will not deliver as expected as the market has become very very competitive.

When the ship sinks everyone jumps ship and it is left for  the Captain to sink or swim.

How the tall and mighty have fallen. Will Yahoo resurge back into the behemoth it once was or is this the death knell of the biggest digital player in the industry. Time alone will tell.

 

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From The Editors Technology

How Robo-Advisors & Fintech Will Revolutionize Asset and Wealth Management Industry

In the movie The Terminator, there is a foreboding scenario that in the not too distant future machines will take over our lives and wreak havoc and destruction on the planet and the survival of the human race will depend on how man battles his own creation, super advanced computers controlling war machines to destroy humanity.

Digital Technology has advanced to such a level in the developed countries of the world that it is simply mind boggling. Communication has become so easy and information so accessible that it is possible to glean any information at the click of a key. From ordering a Pizza to planning a vacation with ticket bookings , hotel bookings, visa information , currency requirements or any other miscellaneous information .

People are traveling on autopilot cars powered by electric, trains, planes are being run on auto mode, space travel is becoming very popular and colonizing Mars is not only being contemplated but actually on the anvil.

Japan is already into a very highly advanced stage of Robot technology with Robots replacing humans at the restaurant, supermarkets, and shops.

Robots will very soon be used as domestic help and undertake all domestic chores from serving bed tea to cleaning the house and possible even tucking in the toddler. Robots are also used in hazardous scientific experiments or moving nuclear material or even deep sea exploration . The possibilities are endless. Miniature robot technology is being used by bomb disposable squads and police are using technology to detect hidden weapons etc.

China is fast becoming the industrial and economic powerhouse of the world and with it is launching an audacious drive to fill its factories with advanced manufacturing robots.

To retain its vast manufacturing base the Chinese government hopes to generate more productivity from robot controlled factories.

The country has already made huge investments in robot technology and the province of Guandong known as the heartland of Chinese manufacturing is investing a staggering and voluminous amount of 154 billion dollars.

The  founder of Foxconn, a company that employs vast armies of workers who make devices such as Apple’s iPhone has said that his company will install more than a million robots in the next few years which will replace human workers to a great extent making it cost effective and more productive.

Robots are designed what they are programmed to do and nothing less and in most cases. Their work is repetitive , precise  but they do not exhibit any intelligence. However, things are changing at a rapid pace and robots are now being endowed with artificial intelligence thanks to new techniques and algorithms enabling them to learn more quickly and effectively .

There are various methods for enabling robot learning, and some are already producing very promising results in research labs around the world. Using large simulated neural networks which has proved indispensable in teaching robots to understand the contents of images, video, and audio. Some companies now aim to use the approach to training robots how to see, grasp, and reason.

Research and development in robotics are expanding at a rapid pace and now robots are teaching other robots accelerating the learning process. The Internet is being used to teach robots which can easily be applied to industrial settings,

The question arises that will robots be confined to factories or homes for menial work or will be upgraded for greater use in offices particularly in the business world. Perhaps Fintech has the answer

Fintech or financial technology is an economic industry composed of companies that use technology to make financial services more efficient . Fintech refers to new applications, processes, products or business models in the financial services industry. These solutions can be differentiated in at least five areas.

  • First, the banking or insurance sector are distinguished as potential business sectors. Solutions for the insurance industry are often more specifically named “InsurTech”.
  • Second, the solution with regards to their supported business processes such as financial information, payments, investments, financing, advisory and cross-process support. An example is mobile payment solutions.
  • Third, the targeted customer segment distinguishes between retail, private and corporate banking as well as life and non-life insurance. An example is a telematics-based insurance that calculates the fees based on customer behavior in the area of non-life insurance.
  • Fourth, the interaction form can either be business-to-business (B2B), business-to-consumer (B2C) or consumer-to-consumer (C2C). An example is a social trading solution for C2C.
  • Fifth, the solutions vary with regard to their market position. Some, for example, provide complementary services such as personal finance management systems, others focus on competitive solutions such as e.g. peer-to-peer lending.

While they are not using Robots completely the technology being used is termed as Robo-advisors. The International financial market such as corporate banking, private banking and asset and wealth management is ready to be inundated and disrupted by Fintech and blockchain related technologies.

Robo-advisors will be taking over. But what exactly is a Robo-advisor?
A Robo-advisor is a service that uses highly specialized software to do the job of wealth managers or investment advisors – people who decide what type of investments you should be making and then tinker with those investments over time. Robo-advisors typically ask their client, the investor, a few questions to determine and assess risk factor.

Through the use of  proprietary algorithms, they spread your money in sound  investments, making adjustments as your situation and the market change. They typically collect around 1% less in fees than a professional investment advisor.

Robo-advisors charge lower fees Let’s say you’ve got a nice nest egg of $50,000. A professional investment advisor who charges a 1% fee for recommending a portfolio will charge you $500 every year, whether your portfolio goes up or down. Plus, his portfolio recommendations might include pricey mutual funds (another 2% gone!) and lots of stock trading, both of which can eat into returns.

Robo-advisors invest primarily in inexpensive Exchange Traded Fund ETFs and only charge 0.50%, cutting that $500 yearly fee in half. And if you invest larger amounts of money? That 0.50% advisor fee shrinks even more with robot-advisors.

Robo-advisors also often negotiate lower yearly management fees for ETFs and offer investors free trading; those savings alone can be enough to counteract the small management fees they charge. Plus, Robo-advisors rarely demand a minimum balance, which means just about anyone over 18 can invest.

Another advantage is the 24/7 accessibility and automation of Robo-advisors. Since the companies operate entirely online, you can sign up, deposit money, check your balance, withdraw money, etc., all without getting out of your pajamas.

Some Robo-advisors also perform automatic portfolio rebalances and tax-loss harvesting for free—both of which can be tedious and pricey with professional investment advisors.

It all depends on the Robo-advisor one uses . At Wealthsimple, e the following asset classes in our portfolios- stocks (Canadian, USA, Europe, and emerging markets), fixed income and real estate. It is believed  they represent the best long-term sources of growth, income, and stability for investors.

Despite the name, not all Robo-advisors offer real advice. And you won’t get any free pens or lollipops when you visit the office. Because there is no office. Or lollipops. At Wealthsimple, we believe that personal financial questions deserve professional personal answers. That’s why every client has access to a professional Portfolio Manager who can answer questions about your investments, your personal finance goals, or any other financial matter you’d like to discuss. We call this our Wealth Concierge, and if you invest larger amounts of money? That 0.50% advisor fee shrinks even more with Robo-advisors.

Robo-advisors also often negotiate lower yearly management fees for ETFs and offer investors free trading; those savings alone can be enough to counteract the small management fees they charge. Plus, Robo-advisors rarely demand a minimum balance, which means just about anyone over 18 can invest.

Another advantage is the 24/7 accessibility and automation of Robo-advisors. Since the companies operate entirely online, you can sign up, deposit money, check your balance, withdraw money, etc., all without getting out of your pajamas.

Some Robo-advisors also perform automatic portfolio rebalances and tax-loss harvesting for free—both of which can be tedious and pricey with professional investment advisors. Some companies are using cyborgs, half human and half  machine as Robo-advisor which sounds scary.

Although in the underdeveloped countries of the world it will take a lot of time to introduce such technology  the developed countries are already using such innovative technology which is transforming the very face of asset and wealth management. Robo-advisor is the In thing in the business and finance world.

As stated earlier the pace at which technology is advancing is mind boggling and soon machines will not serve us only tea in the morning but run all our personal affairs too.

It will be difficult for many to adapt to the newer technology but it is now a part and parcel of lives. Let us try to make the most of it.

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From The Editors Politics

History of Copy Speeches and Melania Trump’s Speech Plagiarism

It is but natural to ape, copy, imitate things so that one can make an impression with people. Children are prone to copy their classmates on one thing or another. Boys as well as girls copy each other in fashion, hairstyle and even personal habits. Girls dress their dolls in similar dresses which often leads to jealousy and bitterness.

In school, at exam times, weak students try to cheat by copying notes from brilliant students owing to peer pressure. In adult life, people resort to all means of copying or plagiarizing material to get ahead in the office.

We have all engaged in cheating, imitating or copying in some stage of our lives but it all becomes history as we move along in life. For ordinary people it does not affect them as mentioned it is a part and parcel of life. In underdeveloped countries where copyright laws are not so stringent and where the government is also weak people tend to take a very lax attitude and brush it off easily. It is often seen that parts of books are plagiarized and used in other books which are not only unethical but illegal. Medical books are photocopied and sold to students at a nominal price as these books are at times very expensive.

However, in the west and most particularly in the USA, copyright laws are very strict and violators can be imposed with heavy fines and even a jail sentence if found guilty.

Perhaps as a case in point of one of the most well-known cases of plagiarism is the blockbuster and best-selling book By Alex Haley ROOTS which was made into a mini television series by ABC television.

It was later discovered that the Pulitzer-winning author had plagiarized major extracts of his book from another novel “The African“ by white author Harold Courlander.

Haley contended that the protagonist of the novel Kunta Kinte was his ancestor a fact which was later disproved by historians.

There have been other famous instances of plagiarism of some well-known personalities such as Dr. Martin Luther King Jr, the world famous US civil rights leader who it is alleged plagiarized his dissertation for his doctorate degree.

However, King was an established iconic leader who changed the course of black and white relations in the USA. It is said that his famous speech “I have a dream was also taken from another pastor“.

Dr. Martin Luther King TimelyBuzz
Dr. Martin Luther King – TimelyBuzz

Dr. Martin Luther King’s greatness needs no explanation or introduction and the plagiarism stories pales before his iconic stature.

Dr. Jane Goodall, an eminent scientist working with chimpanzees for more than 50 years and author of several books and research papers was also accused of plagiarism.

In Dr. King’s case allegations of wrongdoings surfaced at the start of his career but Goodall’s plagiarism was as recent as 2013 when she was planning to launch her book “Seeds of Hope” where it was discovered that some of the sources were taken from none other than Wikipedia, astrology sites and so forth.

Johnny Cash, an icon of his times was a famous country music singer in the fifties and sixties with such famous songs such as I Walk the Line, Ring of Fire, A Boy Named Sue and Jackson, a duet with his wife June Carter Cash.

His name has been inducted into the Country Music, Rock, and Roll and Gospel Music Halls of fame.

Johnny Cash TimelyBuzz
Johnny Cash – TimelyBuzz

However, Cash was also branded a plagiarist in 1955 as his song ‘Folsom Prison Blues ‘ about the tale of a convicted murder being tortured by the sound of a passing train while stuck in prison, was actually the work of another person Cash, settled the plagiarism suit by paying $75,000 to put the issue to rest. That amount is worth about $660,000 today. His career was not affected by the suit at all.

Another two famous personalities, accused of plagiarism were Helen Keller, who at the age of 19 months became deaf and blind but went on to a be a prolific author, public speaker and political activist. She was awarded the presidential medal of freedom in 1964 and inducted into the national women’s hall of fame in 1965.

Her dark patch concerning plagiarism surfaced when she wrote her first book Frost King at the age of 11. The story appeared bore similarities to another book by another author. Although Keller denied any wrongdoing, the matter received a lot of publicity the case was finally attributed and cited as a case Cryptomnesia.

The other famous person mentioned was T.S. Eliot, the famous English Poet and Playwright who won a Nobel prize for literature in 1948.

In 1922 Eliot published the popular poem The Waste Land. Decades later it was discovered that the poem was largely a hodgepodge of text from lesser-known poets, one of them named Madison Casein and his poem entitled Waste Land.

However, Eliot’s reputation was not besmirched although he was criticized throughout his life. Plagiarism becomes very important when the concerned person involved is very famous and has mass fan following but what happens when the plagiarist just happens to be the wife of the nominee for the president of the United States of America.

This is the latest sensational news doing the rounds or as it is the age of digital technology, going viral. Donald Trump, the real estate billionaire is the Republican party candidate for the President of the United States duly endorsed at the convention in Cleveland, Ohio on July 21st, 2016.

Trump, a foul-mouthed, racist preaching hate against Hispanics and advocating the complete ban on Muslims due to terrorist related incidents in US cities recently has already stirred a hornet’s nest and is a love-hate relationship with the media.

Now Melania Trump, his beautiful and charming wife has further spiced up the political hotspot by giving an opening speech at the convention which the media has picked up as being plagiarized from the speech of Michelle Obama, President Obama’s wife at the Democratic Party Convention in 2008 when Obama was running for his first term in office.

Similarities have been found in several place of the speech, as a case in point Melania’s claim that that she would pass these values on to future generations “because we want our children in this nation to know that the only limit to your achievements is the strength of your dreams and your willingness to work for them” also closely matched Obama’s wish to share those values “because we want our children – and all children in this nation – to know that the only limit to the height of your achievements is the reach of your dreams and your willingness to work for them”.

The speech is indeed a setback for the Trump camp as he is formally crowned the party’s candidate for the President of the United States as many critics are saying the-the Republican party image needs to be spruced up its image before the elections in November.

Will this affect Donald Trump’s campaign for the White House? Many detractors, especially in the Hillary team, will say that the husband and wife can not be trusted to handle affairs of the state as they have a tendency to cheat.

Proponents will counter argue that Melania was talking about family values and care and respect and if similar words were used it is no big deal. Still, others may say there is no originality in the Trump camp.

Paul Manafort, Trump’s head honcho, is partly to blame for the fiasco as he signed off the speech and edited it.

Manafort is of the view that common language used in Melania’s speech should not lessen the impact of her words.

Neither Michelle Obama nor the White has commented on the speech yet but the American media will not easily let go.

When one runs for public office, one is the in the limelight at all times and in this case, the prize is the coveted and most powerful office on the planet.

For the next three months both the camps will be under the intense glare not only of the American media but that of the world and the social media. Every stride, every hairstyle, dressing, body language, eating and sleeping habits will be under the eye of the camera and hiccups will be microscopically examined and scrutinized.

Any deviation from the norm will be damning for both the camps and it will be no surprise that Donald Trump hires a team of plagiarism experts to ensure that this time round nothing is compromised, As for the Hillary camp plagiarism may be the least of Hillary Rodham Clinton’s worries as the former first lady is beset with her own problems such, the State department e-mails on her private server, Libya not to mention her husband’s trysts.

One thing is certain, the US elections 2016 will be the ugliest,nastiest and most interesting elections for a very long time as the gloves are off and no holds barred.

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From The Editors Technology

How Uber Is Disrupting Transportation, Ride Sharing and Leasing Industry

Invented by the ancient Sumerians, man’s greatest invention, the wheel brought a modulation to the field of transportation and has indeed given it a new perspective. Uber Technologies Inc. is one such transportation company that has revolutionized the idea of traveling.

With its headquarters in San Francisco, California the Uber Technologies Inc. commenced the Uber application that allows its users to place a request for a cab from their smartphones while at their home. The request is further routed to the Uber drivers who use their own Uber transportation to provide a comfortable journey to their users.

Uber was founded by Travis Kalanick and Garret Camp in the year 2009 as the “UBER CAB”. Since then Uber has been a total success for the two gentlemen and by 2014 it was ranked as the world’s 48th most powerful company and by the year 2015, it is estimated to be of $62.5 billion.

Living in the twenty-first century where our lives are mainly dominated by the modern day technology Uber brings along the comfort of having a cab waiting for you just a tap away. Uber has numerous pros but the major one being the reduced rate of road accidents because of careless and drunk driving.

Not having to wait for taxis for long hours Uber reduces the number of drunk drivers on the road by providing them a safe and a comfortable journey to their destination. Be it a luxurious or an accessible ride for wheelchairs Uber has a wide range of rides to choose from. It also brings along the unique feature of car-pooling never offered by any other. The feature enables the user to share the ride and the fare with anyone else heading the same destination.

Another reason which I believe has contributed to the increasing popularity of Uber is that it is comparatively much cheaper, friendlier and efficient than getting a taxi this means that people no longer have to wait for a cab in the dark streets during late hours with the fear of perhaps being robbed, it also eases the customer with the trouble of waiting for long extensive hours that can be very tiring and exhausting.

The reason why Uber is disrupting the car, ride-system, and taxi industry is because it somehow contributed to the reduction in the rate of pollution. With Uber, people can have any car that they wish to ride in waiting for them at their doorstep within a few minutes away from just a single tap on their cell phone. This means that people now having the facility of having a car just when they need it are encouraged to not carry the heavy burden of car loans or bank loans etc on their backs for years now.

Because of the fare that is within their limits of the range, they are convinced and satisfied by the service provided by Uber and thus the people do not feel the need of buying a car and bearing the heavy expenses of the insurance and taxes that come along with it. The Uber application also ensures a safe journey. The customers no longer have to worry about the mysterious behavior of the cab driver while traveling late in the night. It also means that girls traveling alone in the night no longer have to worry.

Uber ensures a safe and a comfortable ride to its customers. People being content with Uber and its services means that people are convinced to buy fewer cars which mean less emission of harmful gasses into the environment and it, therefore, contributes to decreasing the rate of global warming in the environment.

However, Uber does has a darker side and contributes to the concept of “sharing economy” which has put a burden on the traditional suppliers, manufacturers and service providers. People buying fewer cars and other means of transportation puts a great burden on the manufacturers of big car industries and provides a tough competition for them. Uber and its growing business have caused the business for the taxi drivers to fall down drastically. For private taxi owners and drivers, it has become very difficult to find someone willing to ride in their vehicle, this has caused them many problems such as unemployment.

Uber_app_ride_sharing_timelybuzz

With the growing popularity of Uber and other such franchises, it has become increasingly difficult for the taxi drivers to support their families and bear the normal day to day expense. Thus, the traditional yellow cabs are disappearing from the streets of the world and are replaced by the new more advanced Uber cabs.

Uber has therefore disrupted the system in which “things were normally done”. Offering rides in much lower prices people usually prefer to ride in Uber cabs and this creates a tough competition for the taxi and other car sharing industries. These apps have undoubtedly increased the size of the market for taxi and car services.

Taxi apps have become a rising topic in the tech industry, not only among users but among investors and entrepreneurs also. Companies have come up with taxi apps like Hailo, Careem, Lyft, etc. that have yet again created a tough competition for the taxi drivers.

“Uber’s entry into the market was a wake-up call for an industry that was not meeting consumer expectations.” – the spokesperson told new.com.au.

The Taxi drivers, however, view Uber’s new policies as rather unsafe and comment, “Ride-Sharing is a for-profit enterprise that provides illegal taxi services. It places the public at risk through the lack of proper government-backed checks and compliance measures for drivers and vehicles, and it directly undermines the efforts of hardworking and law-abiding taxi drivers, operators and owners.” The council said in response to the IPART report.

“Operating under the guise of the ‘shared economy’, ride-sharing, and specifically UberX, are exposing both drivers and customers to increased risk through (but not limited to) noncompliance with the law, including the non-adherence to the government required checks for authorities and licenses; inadequate or no insurance; no workers.’ Compensation insurance; no industrial relations arrangements; and the insidious practice of surge piercing.”

However, there has been much of a positive response from the Uber drivers who are quite content with its service and packages. At Uber, the drivers are paid for the hours they work in whereas in a yellow cab the driver gets to keep what he earns and it mainly depends on a chance of luck. The drivers are offered good amount of pay and apart from that another advantage which they have at hand is that they can easily choose the time slots for which they wish to work for, this means that it creates a source of employment for the part-time, workers, too and also attracts many yellow cab taxi drivers into the Uber because of the stable salary which they wouldn’t have received if they worked as a yellow cab driver. This yet again contributes to the reason why Uber is disrupting the car, ride-sharing, and the taxi industry.

Uber is “changing car ownership for drivers, with flexible options that allow people to get access to a car when they want to earn extra income,” says Andrew Chapin, a former Goldman Sachs banker who now runs Uber’s vehicle solutions group. But of course, as with anything related to Uber, there’s controversy. Drivers approved for the program pay around $120 to $160 a week, and the money is deducted automatically from their earnings. At $600 a month or so for many drivers, that’s a hefty lease, leading critics to claim that the terms are predatory. Uber also continues to drop its ride prices, making it harder for some drivers to keep up.

Another main concern that comes up with Uber is that of the economy. With the yellow cab taxi drivers and other industries setting up new vehicles running in the streets of the country, the government did manage to get some of the money to the country by having some government owned taxis and hired taxi drivers. However, with Uber, the money goes into private hands which are yet again a major loss to the government, the country, and its economy.

Thus, it can be concluded that Uber has disrupted the car, Ride-Sharing, and taxi industry in many ways. Uber and its increasing popularity have attracted many investors who have added it to its successful reputation that it bears today.

Uber and its charm have somehow repulsed the loan and leasing industry providing it a tough competition in the market. Uber, where lifestyle meets logistics has truly taken into account the atoms and bits of the world and has brought in a way like no one other and has left no bit or atom unturned to create industries that serve people.

 

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From The Editors Technology

The Elon Musk Mission to Colonize Mars

The inspirational and eloquent maxim:

To boldly go where no man has gone before

from the world famous and highly acclaimed Television series ‘Star Trek of the sixties, the brainchild of visionary producer Gene Roddenberry which was later turned into full-length feature films, drew massive inspiration and fan following which seems to be rising to this very day.

The success of the Star Trek movies and series created a sensation so much so that fans of the movies formed their own group called ‘Ttrekkies’ and every year a Star Trek convention is held in the USA.

Space, referred to as the “last frontier’ with its inherent mysteries has always fascinated man and right from the early sixties with the advancement of technology there has been a Race for Space so to speak.

The Americans competed with the Russians and it was the vision of President John. F. Kennedy that The USA would put a man on the moon before the end of the sixties.
True to his prophecy, Apollo 11 landed on the moon on July 20th, 1969 and Neil Armstrong was the first man to set foot on the surface of the moon with the famous chant ‘One small step for man, one giant leap for mankind’ .

Space travel and exploration are exorbitantly expensive, so much as that in the early sixties and seventies, only The USA and the former Soviet Union were engaged in this field.

Over time other countries like India, China, The European Space agency all started sending rockets into space for weather data, communication and television satellites, Topography etc.

It is only after the turn of the millennium that the private sector has become involved in space travel and exploration for although the commercial benefits may be high the cost of launching a spaceship into deep space is absolutely staggering .

It takes vision, daring, creativity , an adventurous spirit and the boldness of rising to the challenge to venture into such celestial pursuits.Two people worthy of being singled out in the context of commercial space travel space need special mention here as both are visionaries with a dynamic and charismatic disposition, true leaders in their respective enterprises.

The first is Sir Richard Branson, CEO, and Chairman of the Virgin group of companies comprising 400 company with his latest venture Virgin Galactic. As the name suggests Virgin Galactic is a commercial enterprise opening up space travel to all those interested and able to pick the price tag. Although It has not kicked off yet, intrepid travelers have already started forming a beeline to book space for travel in the future.

However, a sad aspect of the Branson’s venture has been the fatal crash of one of its prototype the VSS Enterprise, a Virgin Galactic Scaled Composite Model 339 Spaceship Two experimental spaceflight test vehicle, which suffered a catastrophic in-flight breakup and crashed in the Mojave desert in California, USA.

Investigations revealed that it was an error of the copilot who unlocked the tail of the spacecraft in mid-flight causing the crash. The co-pilot Michael Alsbury died in the crash. This was a major setback for Branson as the accident cast a shadow of doubt on space tourism. However, the British entrepreneur has not lost heart and the project has not been aborted the space ship rebuilt with a savvy new design and innovative features are attracting large bookings.

The other dynamic and visionary entrepreneur can best be described as a genius and highly successful businessman who at the relatively young age of 45 has set up billion dollar companies, Tesla Motors and SpaceX, the first mass producing electric cars, the roadster, model S and model X and the other SpaceX, a spaceship company transporting in cargo payload. The man is Elon Musk, a South African born, Canadian. American for whom it so seems that the Sky is not even the limit.

He is the man who wears many hats, CEO and CTO of SpaceX, CEO of Tesla Motors, Co-founder and chairman of Solar city and two or three other companies. Musk has tremendous vision and is willing to rise to the challenge for his aim is to change humanity and the world. His goal comprises reducing global warming by producing and consumption of sustainable energy.

Furthermore, he believes in making life multi-planetary by establishing a human colony on the planet Mars. His Company Space Exploration Technologies Corporation, better known as Space X, based in Hawthorne, California , is an aerospace manufacturer and space transport services already exploring and experimenting with technologies to enable them to prepare for the colonization of Mars.

It has already developed the space vehicles Falcon I and Falcon 9 which are designed to be reusable. Its Dragon spacecraft has been used to supply cargo to the International Space Station (ISS). A manned version of Dragon is in development.

Musk believes that his program to colonize Mars will be possible in the next 9 years and his company will put the first man on Mars by 2025. The missions are sure to be hard, risky, dangerous, difficult according to Musk but he seems confident that in the in the pioneer spirit of the people they will get there.

Just as with the establishment of the English colonies, there are people who love that. They want to be the pioneers. Much like some of their ancestors, these brave men and women would embark on a perilous journey to a new world for the good of mankind, a journey with implied risk that suggest they may never return.

The first phases are to involve rovers and science experiments, not men and women. The equipment would be built by SpaceX (and others) and shuttled to the planet in anticipation of the pioneers’ arrival in 2025. The early flights are a proving ground, a way to better understand interplanetary navigation and allow the company to safely land its craft on Mars, before shuttling humans.

Essentially what we’re saying is we’re establishing a cargo route to Mars. It’s a regular cargo route. You can count on it. It’s going happen every 26 months. Like a train leaving the station. And if scientists around the world know that they can count on that, and it’s going to be inexpensive, relatively speaking compared to anything in the past, then they will plan accordingly and come up with a lot of great experiments.

In decades past, these missions would have fallen on NASA and congress, which makes it even more impressive that Musk and his privately-held company are leading the charge.The move is an audacious one by a company that lacks the resources of a government agency and is receiving only minimal support. NASA, for its part, has previously said it would provide technical — but not financial — support for Musk’s 2018 mission.

Whether it is an obsession or sheer inspiration Musk seems bent on proving himself. If things go according to plan, we should be able to — we should be able to — launch people in 2024, with the arrival in 2025,” Musk is believed to have said. This is indeed a grand plan for up to now we have just seen life in Mars in movies. If musk can pull it off and Mars can be really colonized in 30 to 40 years time his company will have done a great service to humanity as the Earth’s resources are drying up especially water and with burgeoning population in billions many will aspire to become Martians.

Musk has missed some self-imposed deadlines before. But he said that he intends to send SpaceX’s Dragon Version 2 spacecraft to Mars in 2018. SpaceX has entered into an agreement with NASA for a Dragon mission to Mars, set to take place as early as 2018. Known as “Red Dragon”, the variant of the Dragon 2 spacecraft will be launched by the Falcon Heavy rocket, ahead of a soft landing on the surface of Mars. The mission is also part of an agreement with NASA to gain further data on Mars landings.

Red Dragon was always seen as the first step towards that eventual goal. SpaceX’s announcement pointed to the completion of the main phase of an agreement with NASA, likely via a Space Act Agreement (SAA), to work together on a mission to Mars.

Elon Musk, has great plans for posterity and can rightly be called a great visionary and had visionaries and academics like Gene Rodenberry, Jules Verne, Einstein, Newton and many others been alive today they would have lauded Musk for his intrepid and entrepreneurial skills.

Elon Musk has the funds, the resources, and the manpower to realize his dreams and with the support of the US government, he has everything at his disposal to invade Mars and set up colonies of earthlings.

Musk has many more years to go and with his visionary thinking and foresight and with time who knows what greater achievements he will make. Godspeed to him.

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From The Editors Technology

A Historical Insight on Tesla Motors & Its Impact on the Auto Industry

Ever since times immemorial, it has been man’s consistent endeavor to improve his lot in life, to provide material comfort and succor to himself and his family. Right from the medieval ages or even before that when people lived in caves, discovery and invention have been a major priority to enhance and improve the quality of life.

Over the years scientists, inventors, discoverers, doctors, manufacturers, writers, academics political leaders, religious scholars have all contributed their share to the path of progress and prosperity.

The two of the greatest areas where man has made monumental strides over time has been in the field of communications and transportation. With the invention of the telephone by Alexander Graham Bell, it became possible to speak across the globe in a very short time. And with the advent of digital technology, well, all one can say, wonders will never cease to exist.

However, it is an indisputable fact that man’s greatest invention The WHEEL has transformed and revolutionized the world of transportation and given an entirely new impact and dimension to the auto industry.

It is in human nature to aspire for better, more comfortable and above all faster means of transport with foolproof security features and ever since the introduction of Henry Ford’s Model T and its mass production the need for bigger, better and faster has been the criteria of the automakers.

Ever since the Model T, The world’s auto industry has entered into a frenzied and cut throat competition each vying to produce the world’s best automobile to grab a share of the international market.

The Americans needed quantity as well as quality not to forget exacting safety standards and initially were in the forefront of the auto industry.

After the second World War, things changed and today Japan has emerged as the largest automaker with Toyota, the leading car manufacturer in the world General motors, Nissan. Suzuki, Volkswagen, are some of other the leading automakers of the world today.
However, in the early seventies, the world witnessed an oil embargo which soared the prices of petrol globally and the auto industry felt its impact as sales slumped drastically. Moreover, industrial pollution, car fuel emission, and chemical and toxic waste were playing havoc with the ecosystem and the demand for fuel efficient cars was the need of the hour.

Automakers spent millions on research and development and started producing better models of their car version which were both Eco-friendly and fuel efficient.Innovation has always been the hallmark of all major companies, to explore new technology, apply them in and produce better and greater quality products in their related field.

Every major automaker realizes that cost and unmatched efficiency are what draws the customer to its models and they leave no stone unturned to meet the expectations of the market.

One such company is Tesla Motors based in Fremont, California which has been making electric cars since 2012 and which appears to become the greatest automaker in the world. The question obviously springs to mind that what exactly is an electric car and how it compares to an ordinary car?

An electric car is propelled by one or more electric motors powered by rechargeable batteries.These electric motors give instant torque resulting in immediate acceleration.
Tesla motors introduced its Model S which has to date been very successful. The first Tesla electric car was the Roadster made in 2008. It is a battery electric vehicle (BEV) sports car that was produced between 2008 to 2012. Tesla plans a replacement for the roadster in 2019.

The second model introduced by the company has been the Model S which has to date been very successful.The Tesla Model S is a state-of- the art super luxury sedan which operates entirely on electrically powered by rechargeable batteries. A 5-door liftback Tesla first introduced in June 2012 and ever since sales have been soaring in the USA, Canada, and Europe. It has been duly approved and certified by the United States Environmental Protection Agency (EPA).

The greatest feature of the Model S is that it is 100 percent emission free which is nothing short of a godsend as the world struggles to keep industrial emissions down as much as possible. Although Tesla motors are in fierce competition with General motors to capture the electric car market the demand for the model S will give Tesla an edge in the near future .

The Model S is the second highest-selling electric car in the global market after Nissan Leaf. At present, the model has been very successful with touchscreen digital technology to operate its interior systems with eight airbags etc.

The most innovative feature of the Model S is its auto- pilot system, a system whereby the car drives by itself guided by its computer and built-in sensors. In other words, drivers are free to engage in other activities as the car drives itself. It is said that it is also possible for the auto-pilot to accurately park itself.

The car has bagged many prestigious awards the since its inception such as 2013 World Green Car of the Year, Motor Trend Car of the Year and Time magazine’s best 25 inventions of the year 2012. It has been very successful in Scandinavia and in the Netherlands, Germany, and Switzerland.

To gauge the success of any product or in this case a car model the US market is the best yardstick or barometer and the Tesla model S has already captured 60% of the U.S market.

Tesla Motors is owned by Elon Musk, a dynamic and charismatic entrepreneur who like Richard Branson, owner of the Virgin group can best be described as creative visionaries who not only are engaged in earthly business ventures but have set their sights in celestial and inter-galactic pursuits.

Tesla is launching its Model X, an SUV which has advanced features of that of the Model S. Tesla motors in 2016, Tesla upgraded the design of the Model S, which now looks more like the Model X. Further additional upgrades can be done on the S model with the introduction of a software update .

It can be unequivocally said that Tesla Model S is a marvelous engineering feat in automobile technology and electric cars being the need of the hour Tesla motors are a thing of the future and it seems that within a very short span of time Tesla will be the leading automaker in the world.

The company is making monumental strides in auto technology and it would be no surprise that Tesla will soon become a household name and set up a plant in every major country in the world. There are of course negative aspects in any venture and recently Tesla had its share of woes when a Tesla car crashed and the driver was killed despite the fact that the autopilot system was functional.

The matter although being investigated by the National Transportation and Safety Board (NTSB) has not dampened the enthusiasm of potential car buyers. Tesla, however, contends that the auto-pilot system was not to be blamed for the fatal crash. Tesla, which had to face the brunt of the political damage and public relations nightmare went into damage control and immediately started working on modifications to its Autopilot system.

Autopilot works by using cameras, radar and computers to detect objects and brake automatically in case of the possible risk of hitting anything. Although this has been a major setback for the car company Tesla engineers are working at a frantic pace to rectify the anomaly if any.

Meanwhile, Tesla is all set to launch its latest model Model X which will be another feather in its illustrious cap. Tesla is an extremely customer-oriented company and does not make its models until orders are placed in which case delivery dates are given to customers.

Another noteworthy point is that although the price of cars is quite high the government with an aim to reduce emissions is providing tax incentives to companies as well as customers, for example, a Tesla Model X 60 D is priced at 74000 US but with a tax credit of 6500, it comes to 66,500 US dollars.

Moreover, the cost of using electricity is much cheaper than using gasoline so in the long run, it goes without saying that an electric car will prove to be very beneficial.

In anticipation of the introduction of a more affordable model by 2017, Tesla automakers have started collecting a $1000 dollars deposit from potential buyers and so far over half a million people have made the deposit. The potential of this car is incredible as Governments are giving tax breaks to people in Canada and the U.S who want to purchase an environmentally friendly car with no emissions.

In conclusion, it can be said as far as Electric cars are concerned Tesla will prove to be a major player in the global auto industry.