The Internet unlocked $trillions in America, catalyzing wealth creation at scale. That Microsoft is near $3 trillion is because of the internet, and most especially its ability to unlock value in the application utility phase. Windows remains the operating system of enterprises, and the web has souped its ability to capture value, as the web distorted piracy at scale, with subscriptions, software validation and authentication.
The promise of African knowledge companies in this decade is to unlock the value which remains latent in the application utility phase. We have the mobile internet but our applications remain limited. Yes, from real estate to agriculture, from education to retail, and indeed all sectors, the power of the web must work in Africa, village to city, one at a time.
Microsoft has overtaken Apple as the world’s most valuable company, according to the latest market data. The tech giant reached a market capitalization of $2.8 trillion on Friday, surpassing Apple’s $2.7 trillion valuation. This is the first time since 2010 that Microsoft has claimed the top spot in the global ranking of public companies.
Microsoft’s impressive performance is driven by its strong growth in cloud computing, gaming, and hardware segments. The company reported a 21% increase in revenue and a 47% increase in net income for the quarter ending September 30, 2023. Microsoft also announced a $60 billion share buyback program and raised its quarterly dividend by 11%.
For everything you think has happened, our transition remains at infancy. Yes, these “big” startups have done really nothing, and that means more builders are still needed. I tell Tekedia Capital founders, do not worry about competition that much in Africa, worry about your inability to execute your playbook! Why? Most startups which have failed did not fail because someone solved the problems which they wanted to fix, but because they gave up, while trying!
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Be inspired that someone can build a company worth $2.89 trillion and could overtake another company in that range. If you put that in context, understanding that ALL companies in the Nigerian stock exchange are not worth up to $60 billion, you can appreciate the power of knowledge and executed missions of firms.
Apple over Microsoft, Microsoft over Apple – that is the American tech race on market caps. By this time in ten years, another company will likely lead the show.
#Build because Nigeria, Africa still need their moments!
By 2030, I expect 80% of richest Nigerians to have made money from technology. Nigeria is having its finest cambrian moment on the formation of enduring companies. The last time we were this bold, on entrepreneurial capitalism, was in the early 1990s when some of Nigeria’s current leading banks were established.
The 1990s gave us the new generation banks. The 2000s brought voice telephony. The 2010s ushered mobile internet. The 2020s would deliver the era of application utility across industry sectors and market territories.
The Internet unlocked $trillions in America, catalyzing wealth creation at scale. That Microsoft is near $3 trillion is because of the internet, and most especially its ability to unlock value in the application utility phase. Windows remains the operating system of enterprises,… pic.twitter.com/2Vq9UjDt5x
— Ndubuisi Ekekwe (@ndekekwe) January 14, 2024
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We are easily distracted, discipline is something we lack. Did we set any goal for ourselves individually or collectively, that this and that are things we are aiming to accomplish within a decade? It is not everytime we hear news about great companies or individuals, then we start wondering or panicking on whether we are measuring up or not. We are not to be judged by the US standards, but we must also set standards for ourselves, and if we are not attaining them, then we will know that we are failing.
Ordinary Fx crisis, our tech knowhow and ingenuity couldn’t save the situation and make lives better for everyday Nigerians, rather we are hoping that misguided and inept politicians would lead the way. Unfortunately they are incapable.
We have many fundamental problems and challenges, so all our energy and talents should be devoted to solving them, without looking at the politicians. It is possible to make life better for ordinary people, so the more we build products and services that make it possible, the closer we are to achieving great success. Once we succeed in dealing with mundane issues, we will position better to challenge world beaters, that is when high valuations will become meaningful here.