Ah, thank you kindly. You know it back. In 2020, one of the global experts within my proximity said something like this about covet and digitization. They said covet is: it has triggered or cost 2030 to arrive in 2020. What does that mean? It means as far as the marketplace or the workplace is concerned. There are certain milestones that africa, the u.s, canada, china and, of course, switzerland and other localities. We might have reached those levels of digitization or those levels of job insecurity in 2030, but thanks partially to covet uh. It has kind of like brought a hyper digitization. Let me qualify that statement by 2025 in south africa theres about 5.7 million jobs that will no longer be relevant. That is an african situation by 2025 theres. There are at least 5.7 million jobs that will not be relevant anymore, meaning youre qualified. You are certified. You are experienced, but the job market is saying we prefer a robot over you, maybe that you have to maybe worry yourself about in 2030, but covet thanks to covet partially uh thanks, but no thanks covet has brought that milestone or brought that gauntlet forward. So maybe if you are considering a side hustle or even as what greg said a second or at that job, it might be good time for you to not just look at your personal cash flow. But look at the market forces around you that somebody is moving. The cheese somebody is innovating and they might be innovating you right out of your job, so be proactive, dont be reactive.
You know, i i thought about a certain thought leading up to this conversation or the family meeting. I thought about it. People are often saying robots are coming for your job and covet has kind of like caused robots to come to your job for your job faster. Then i thought about it. Wait a minute if robots are coming for your job theres a recent startup in nigeria that has now made unicorn status and is now worth 2 billion u.s dollars because they raised about 400 million u.s dollars in the last couple of weeks. Nigeria is bubbling uh with a startup inventions and innovations, not all of them are becoming unicorn. Some of them are just managing to enter the market and with with the staying power that greg referred to theyre able to stay in the game, so all good for that. So the question is instead of a robot coming for your job wouldnt, you want to start a startup that takes advantage of digitization and instead of a robot coming for your job wouldnt, you want the robot to work for you, so its a bit of a sweet Deal isnt it a robot was coming for your job yesterday, but today you are employing human beings and robots in whatever startup that you you may be starting after this conversation that propels you beyond the wall, so thats. What i want you to keep in mind that yes covet is a macro attack on governments on startups on corporates.
Nobody is safe, nobody is safe, but its not just not just an attack but its pushing us to the edge of a cliff. My question is: are we going to take flight or were going to fall down into the hobbies? Kindly thank you very much. Thats beautiful the realities are staring us in the face and we have to be pro active in in taking advantage of the situation so greg. Please speak to that as well. What what youll be thinking about in terms of startups in this postcode era? I think chadric hit the nail on the head in terms of the the the effect the the practical effect of covid, which has accelerated a lot of the technology trends. And it has increased risk, it has created risk where there previously was not risk. You know, for example, in the u.s um we have our supply chain in the u.s in the last 20 years has been built around something called just in time, whereas if you, you know, if, if youre, if youre, if youre, if youre manufacturing company and you need A component you and you need – and you order the component on monday morning and on tuesday morning it arrives at the factory thats called just in time, youre getting it from your supplier. Well, what covet has done? It has completely screwed up the supply chain so, where you have this starting and stopping of of different businesses in the supply chain, now you have, you have a manufacturing business that is completely structured around just in time where you dont have to hold inventory, and now Your supplier will take two weeks to get you something.
Well, you know what and youve got to change your entire mode of doing business and that and again theres certain economies in in africa, where thats just a problem, you dont get it just in time, and so, but your business structure isnt built around that right. So so you have to that, has completely changed. I think what what chadroc is hitting on is self awareness. Okay, in the sense of your lets, take the person in the job its in and youre, going to get youre going to get replaced baby by a robot or artificial intelligence, or something like that you have to you have to be aware. You come into work in the morning. You have to be aware of where the company is going, where your industry is going and what the trends are, and you have to see youre on a beach its sunny right. Now you see storm clouds. You have to look up from the sand castle and and be able to see the storm clouds and you have to be able to plan ahead. Okay, now im not saying everybody has to get into technology theres some people that its like you know, theyre, not tech, people, theyre, not gon na, be tech people for whatever reason: thats okay, but if youre good at what you do. If you have knowledge, if you have a built up knowledge, which you always have to work on getting, if you understand that customer, whether youre in a business or youre, running your own business, you have you have a role to play somewhere.
Because of that knowledge. Because of that capability to create products and services that serve that customer and so again, im im beating this into the ground, because this is the key to always having a job and always being what i call market relevance. You have to be relevant to the market. Okay, so thats the first thing as far as starting a business, i think – and i would say this is true of anybody running a business – is that you have to understand your entire supply chain. Okay from from from, if youre, if youre me you, you kenneth, have a client that makes hibiscus tea. Okay, she has to understand the she has to have an awareness and a complete understanding from heres my grower, making the hibiscus and heres how its going to get shipped heres, how the hibiscus flower is going to get shipped and heres. How im going to purchase it and heres how im going to store it, and so now that whole those steps in that delivery chain – and that is that is something that is manufactured, but it applies completely to to a service business. You have to understand now. Covid has changed. Perhaps you know the the timing of how that flower that hibiscus flower gets delivered or the issues related to moving it across national borders or the issues related to currency. Okay, and so you have to sit there and look at the risk profile of each of those steps and how its changed and when youre lets say you you, you were working in a in a company that made hibiscus tea, okay and – and you had one role, Lets say your role was to actually brew the tea.
You might not be thinking about all those other different steps because theres other people thinking about those steps, but now you go on your own now you have to under have to have not an awareness and understanding and you have to be able to mitigate whatever risk And so you have to sit there and not just say: can i get? Can i get the hibiscus flower today, but can i get it tomorrow? What happens if, if the the national borders get shut down, theres a war which, obviously there you have issues with that in different parts of africa or or you know, i cant get the quality of flour. I want for some reason, or the price of fertilizer, for the farmer goes up because of inflation and in my my costs are going to go up, and so that is something that covid has made more complicated and so where you would have taken for granted. Certain parts of your your supply chain, um being able to deliver what you need now you now its more complicated and thats just a reality, and so you have to have an awareness, and so what does that mean it? Once again, it does not mean you guess it. What you think is really irrelevant, you go and you you think, heres the key. You think, like the fellow growing, the flowers, okay, you put yourself in that persons shoes and say what is that persons strategy and and and you put yourself in in in mentally – and you talk to them – not just okay – well, im gon na talk to them.
Can they deliver the flower, but you get to know them and that way you get you. You also develop a really really good understanding and appreciation of how how you you make a better product, how you get the product cheaper, how you you improve the the chain – and you might say you know its a lot of work but its a habit and most People running businesses, dont think like that, and so that covid has changed, has made that a reality and where you need to understand the risks, you need to really understand the risks of the components, um and thats, just the new reality that were in great. I thank you for that greg i mean the impact. I i like that that um of analysis supply chain interesting that what its its like an equalizer, so to speak so in the u.s. What used to come just in time has to now take the same. Two weeks that it takes in africa its quite interesting but but the problem is, we expect it yeah exactly that isnt holding inventory. Now. What do i need to do? I need to add inventory wall thats. Just like my cash flow. It changes my business. It changes my pricing, you know and, and you add to that, the inflation that were starting to have in the us, you guys, might say four percent: five percent inflation, not a problem, well, its a problem. If youve built your business around two percent inflation right yeah exactly so you know, yeah patients are putting a demand on you based on the realities of of the world.
Thank you for, but that is so much insight happening here and you know like i said it is getting quite hot. Thank you kingston for king saxon. Thank you. I think i saw la la tunji earlier much appreciated now.