No Bubble in Lagos Tech
There is no truth on this picture. Lagos tech is still at infancy and evolving to be talking of a bubble. Simply, we have not even been inflated. You cannot have a bubble when nothing has started. Sure, most think something is happening because of effervescence of money raised by some startups. Out of Scope: for the $301 billion of funds flowing from consumers to businesses in Nigeria, 98% are still on cash, notes MasterCard and The Fletcher School. Simply, nothing has been changed across sectors and markets.
Sure, there will be hard lessons on the way, but be rest-assured that we are just starting. Lagos tech has no element of a bubble. Ignore that photo and keep building.
Instead of a bubble, we are experiencing our Cambrian Moment and the promise is HUGE
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