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Around the World

This billionaire wants to reduce the number of hours people work

Chinese billionaire and co-founder of Alibaba Group, Jack Ma, believes it’s about time people begin to work fewer hours.

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Jack Ma, This billionaire wants to reduce the number of hours people work

Chinese billionaire and co-founder of Alibaba Group Holding Ltd, Jack Ma, believes it’s about time people begin to work fewer hours. His grand plan entails reforming the education system and making use of artificial intelligence. Will this ever work in a country like Nigeria?

What Ma Said: According to the billionaire, people in China are working too hard and it’s about time that gets changed. To this end, he is proposing a total of 12 hours per week which breaks down to very few hours of work per day. The robots will do the rest of the job.

Jack Ma stated this in Shanghai while discussing with Tesla Inc.‘s Elon Musk during a panel session at the World Artificial Intelligence Conference.

“For the next 10, 20 years, every human being, country, government should focus on reforming the education system, making sure our kids can find a job, a job that only requires three days a week, four hours a day.”

Possible problems: While this could potentially become one of the best things to have happened in the history of working, there are some questions to be answered. Analysts at Nairametrics have wondered whether the plan would entail a reduction in pay for Chinese workers or not. If salaries would be cut down considering the fewer working hours, then what’s the point really? However, if workers are to be paid their normal salaries in exchange for working fewer hours, then how nice!

Also, could this proposal potentially result in people losing their jobs? Do not forget that there has been a long-standing debate over the threat posed by technology and artificial intelligence to workers. Therefore, could Ma’s proposal be aimed at facilitating the AL takeover? We may never know for sure.

Bringing this home: The important question now is this: can this ever work in Nigeria? As good as it sounds, the answer is no. Due to a number of factors that are out of place, Nigeria is not quite prepared for the future of work.

Deal book 300 x 250
Sigma Pensions
  • The country’s education system is in shambles.
  • Poor infrastructure (both IT and regular) is the order of the day.
  • The economy has not advanced to the point we can depend on artificial intelligence to do the work humans can easily do at less cost.
  • There are millions of Nigerians that are unemployed; let’s get them working first.

[READ: Massive job loss looms in the banking sector]

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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    Around the World

    Trump to return to social media with his own platform in 2 months

    Over 2 months after he was banned from Twitter, Facebook, others, Donald Trump is working on making a return.

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    U.S. budget suffers a deficit of $3.1 trillion in 2020, as pandemic slams the economy, President Trump to decide fate of TikTok in 24-36 hours, Vaccine, America's Trump finally bans TikTok, WeChat, US imposes visa ban on Nigerians for election-related activities, I am not going to do second debate - Trump

    Former US President, Donald Trump, will be back on social media in the near future, over 2 months after he was banned from Twitter, Facebook, and others.

    This follows plans by the former President to launch his own social media platform within the next 2 or 3 months.

    This disclosure was made by Trump’s Senior Adviser, Jason Miller, on Sunday, March 22, 2021, during a chat with Fox News’ #MediaBuzz.

    READ: President Biden revokes Trump’s ban for green card applicants in US

    What Donald Trump’s Senior Adviser is saying

    Jason Miller, who was a spokesman for Trump’s 2020 campaign, told the media network that the former President would soon get back to social media space with a new platform of his own that would completely redefine the game.

    Miller, while talking to Fox News, said, “I do think that we’re going to see President Trump returning to social media in probably about two or three months here, with his own platform. And this is something that I think will be the hottest ticket in social media; it’s going to completely redefine the game, and everybody is going to be waiting and watching to see what exactly President Trump does.”

    Although he did not provide more in terms of details, Miller revealed that Trump had been having high-powered meetings at his Florida resort, Mar-a-Lago, with various teams regarding the venture, and that numerous companies had approached Trump.

    Miller said the new platform was going to be big, while also predicting that Trump would draw tens of millions of people.

    Sigma Pensions

    In case you missed it

    • It can be recalled that former President Trump was banned from Twitter after the January 6, attack on the Capitol by his supporters. He was accused of inciting his supporters after he rejected the US Presidential election result which he claimed was a fraud.
    • Twitter last week said it would seek public input on when and how it should ban world leaders, saying it was reviewing its policy and considering whether leaders should be held to the same rules as other users.

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    Around the World

    Tesla investor sues Elon Musk for causing problems with his tweets

    An investor in the US electric car maker, Tesla, has sued the company’s founder, Elon Musk over alleged erratic tweets.

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    Tesla Investor Sues Elon Musk for Causing Problems with His Tweets

    Elon Musk, the controversial multi-billionaire is being sued by an investor in his company. Musk is being accused by the investor of unsettling the markets and exposing his investors to high risk with his “erratic tweets”.

    Chase Garrity an investor in the US electric car maker, Tesla, has sued the founder of the company for his erratic Twitter messaging which according to him, has exposed the company to high legal risks and billions in price losses.

    The 105-page lawsuit was published in the US court of Delaware and it accuses Musk of violating the settlement negotiated with the US Securities and Exchange Commission in 2018.

    READ: Battle of Titans: Elon Musk, Jeff Bezos share world’s richest title

    The lawsuit also includes the entire Tesla board and its supervisory body for not calling Musk to order.

    In May 2020 Musk caused a 14 billion dollar loss in market value on a single trading day with a series of unguarded tweets. He tweeted about Tesla’s market value being too high and how he was going to dispose of all physical assets.

    The lawsuit stated that any further unbridled tweet from Musk would have dire consequences for Tesla’s future funding opportunities.

    READ: Elon Musk gains $25 billion in a day, as Tesla surges by 20%

    Sigma Pensions

    What you should know 

    • Remember Nairametrics posted a story on how Musk tweets once again caused a serious ripple effect in the crypto world. His tweet helped Bitcoin gain $6000. He later invested heavily in Bitcoin.
    • Manager Magazine stated that analysts are not comfortable with such a move and view it as some kind of manipulation.
    • Musk in April last year posted a joke photo of Tesla going bankrupt. This once again unsettled investors.
    • Tesla Management has not released a statement on this fresh lawsuit.

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