Tuesday, January 31, 2017

Effect of Trump's Muslim Ban on Silicon Valley

Thousands of protesters and dozens of civil rights lawyers from ACLU and CAIR flocked to San Francisco International Airport (SFO) to free Muslim travelers detained by the US Customs and Immigration Service after President Donald Trump's Muslim Ban executive order over the weekend.

Silicon Valley companies rely on technology talent from many Muslim nations around the world. They also do significant business in the Islamic world. It is in Silicon Valley's best self-interest for the United States to have friendly ties with world's 1.5 billion Muslims. Among the most famous sons of Muslim immigrants was the legendary Apple founder Steve Jobs.

Anti-Ban Protest at San Francisco International Airport 

While the scene with anti-ban protesters and civil rights lawyers was repeated at all major international airports across the United States, what was special about San Francisco was the presence of Silicon Valley tech elite,  including Google cofounder Sergey Brin and Y Combinator president Sam Altman,  among the protesters.  The Who's Who of America's technology world work with tens of thousands of Muslim technologists everyday. They have all spoken out against Trump's Muslim ban. Meanwhile, several Silicon Valley venture capitalists have committed to match donations to American Civil Liberties Union (ACLU), the biggest organization of civil rights lawyers in the United States. ACLU says it has already raised over $10 million so far to fight Trump's Muslim Ban in the US Court system.

Silicon Valley Muslims:

Silicon Valley companies rely on technology talent from many Muslim nations around the world. They also do significant business in the Islamic world. It is in Silicon Valley's best self-interest for the United States to have friendly ties with world's 1.5 billion Muslims. Among the most famous sons of Muslim immigrants was the legendary Apple founder Steve Jobs.

The US-born Muslims make up the largest percentage at 34% of all Muslims in San Francisco Bay Area, followed by 14% born in Pakistan, 11% in Afghanistan, 10% in India, 3% in Egypt and 2% each in Iran, Jordan, Palestine and Yemen.
Bay Area Muslims by Country of Birth 

There are 35,000 Pakistani-born Muslims in San Francisco Bay Area,  or 14% of the 250,000 Muslims who call the Bay Area home, according to the study. Bay Area Muslim community constitutes 3.5 percent of the area’s total population and is one of the highest concentrations of Muslims in the country.

As of 2013, South Asian Muslims, including Pakistanis, have the highest income levels, with nearly half (49%) of them having a household income above $100,000. In comparison, those groups with the lowest proportion of household incomes above $100,000 were Hispanic Muslims (15%), Afghans (10%), and African American Muslims (10%).

The Bay Area Muslim community is very diverse in terms of race and ethnicity:

South Asians (30%)

Arabs (23%)

Afghans (17%),

African Americans (9%)

Asian/Pacific Islanders (7%)

Whites (6%)

Iranians (2%)

Silicon Valley Tech Elite Protest:

While Sergey Brin (Google) and Sam Altman (Y Combinator) physically joined the protest at San Francisco International Airport, there are many more among the Who's Who of the tech world who have voiced their opposition to Trump's Muslim Ban: Facebook founder Mark Zuckerberg, Tesla founder Elon Musk, Netflix founder Reed Hastings,  Apple CEO Tim Cook, PayPal cofounder Max Levchin, AirBnB founder Brian Chesky, DropBox founder Drew Houston, and many many more. They all know how critical the Muslim immigrant talent is to the success of their companies.

Many of the tech elite cite the fact that legendary Apple founder Steve Jobs was the son a Syrian Muslim immigrant father Abdul Fattah Jandali.

Summary:

Silicon Valley tech elite have joined the growing protests against Trump's Muslim Ban. Some have shown up at San Francisco International Airport while others have issued statements through social media to voice their opposition. Several venture capitalists have committed to match all individual contributions to  ACLU,  the civil rights lawyers' organization  that has already raised $10 million over the weekend to fight Trump's executive order banning Muslims. They all know how critical Muslim immigrant talent pool is for the continuing success of Silicon Valley technology industry.

Here's video clip of a discussion on Trump's Muslim Ban:

https://youtu.be/DYrc5BpjLiA





https://vimeo.com/201559485


Implications of Trump's Muslim Ban, Mexico Wall from Ikolachi on Vimeo.

Related Links:

Haq's Musings

Trump's Muslim Ban

Steve Jobs: the Son of Syrian Muslim Immigrant Father

The Trump Phenomenon

Islamophobia in America

Silicon Valley Pakistani-Americans

Pakistani-American Leads Silicon Valley's Top Incubator

Silicon Valley Pakistanis Enabling 2nd Machine Revolution

Karachi-born Triple Oscar Winning Graphics Artist

Pakistani-American Ashar Aziz's Fire-eye Goes Public

Two Pakistani-American Silicon Valley Techs Among Top 5 VC Deals

Pakistani-American's Game-Changing Vision 

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Sunday, January 22, 2017

Trump Inauguration; WEF17 & Inequality in India

What tone did President Donald J. Trump set in his inauguration speech on Jan 20, 2017? Can Trump simultaneously take on the US establishment, friends and foes all at the same time? How will he browbeat US businesses to stop offshoring of manufacturing and jobs? How will he "eradicate radical Islamic terrorism" without the help of allies whose armies he says will not be "subsidized" by the United States? How's Trump's rise seen in Pakistan? Will he start trade wars with China and other countries running trade surpluses with the United States? Will he change Washington or will Washington change him?

Why is the World Economic Forum 2017 in Davos so concerned about growing economic inequality? Is globalization alone responsible for it? Why is India so unequal with 58.4% of the wealth owned by the top 1% of Indians? Why have the Brexit vote and Trump victory sent shockwaves through the ranks of the owners/investors of global businesses and industries? How will they respond to the powerful backlash against globalization? How is automation affecting the jobs situation? Is it equally responsible for loss of jobs?

Why was the new Laskar e Jhangvi chief Asif Chhotu, like his predecessor Malik Ishaq, killed in a police encounter in Punjab? Was this just another fake encounter? Will it help reduce sectarian carnage in Pakistan?

Viewpoint From Overseas host Misbah Azam discusses these questions with leading Pakistani journalist Zahid Husain and regular panelists Ali H. Cemendtaur and Riaz Haq (www.riazhaq.com)

https://youtu.be/PDANReBBSBo





Related Links:

Haq's Musings

Trump Phenomenon

America and the Rise of ISIS

London Mayor Sadiq Khan's Election

Trump Policies

Economic Inequality in India, Pakistan

Economy and Security Situation in Pakistan

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Wednesday, January 18, 2017

Economic Inequality in India and Pakistan

Top 1% of Indians own 58% of wealth in India, according to a recent report by Oxfam as published by Wall Street Journal.  The report said the global average for wealth ownership of the top 1% is 51%.

Source: Oxfam



The income and wealth concentration in the hands of the richest top 1% skews the average per capita incomes and makes the material well-being of average citizen look better than it is.  The best way to measure how well or poorly an average citizen is doing is to look at the median income and wealth, not the average or mean. The median income reflects how much the person at the 50th percentile of the income distribution earns, giving us a better picture of the well-being of a “typical” individual in a given country. Similarly, median wealth represents how much wealth a person at the 50th percentile of the wealth distribution has accumulated.

Median Incomes in South Asia:

Centre for Global Development has estimated 2014 median incomes of countries around the world. Here's what it reported for India and Pakistan:

 Pakistan: Median Income per capita: $,1204.50, Median Household Income: $6,022.50 Mean (Average) per capita $4,811.31

India Rural: Median per capita $930.75 Median Household $4,653.75 Mean (Average) per capita $5,700.72

India Urban: Median per capita $1295.75 Median Household $6,478.75 Mean(Average) per capita: $5,700.72

It shows that India's urban median income is slightly higher than Pakistan's median income. However, India's rural median income is significantly lower than Pakistan's.  It should be noted that 70% of India's population lives in rural areas, much higher than Pakistan's 61%, according to the World Bank.

Using India's Census figures of 30% urban and 70% rural population, the median per capita income for all of India works out to $1,040.25, about 15.8% lower than Pakistan's median per capita income of $1,204.50.

Source: Bloomberg

Median Wealth in South Asia:

Average Pakistani adult is 20% richer than an average Indian adult and the median wealth of a Pakistani adult is 120% higher than that of his or her Indian counterpart, according to Credit Suisse Wealth Report 2016. Average household wealth in Pakistan has grown 2.1% while it has declined 0.8% in India since the end of last year.

Source: Credit Suisse Wealth Report 2016

Here are the key statistics reported by Credit Suisse:

Total Household Wealth Mid-2016 :

India $3,099 billion Pakistan $524 billion

Wealth per adult:

India Year End 2000 Average $2,036 Median $498.00

Pakistan Year End 2000 Average $2,399 Median $1,025

India Mid-2016 Average $3,835 Median $608

Pakistan Mid-2016 Average $4,595 Median $1,788

Average wealth per adult in Pakistan is $760 more than in India or about 20% higher.

Median wealth per adult in Pakistan is $1,180 more than in India or about 120% higher

Summary:

Median per capita income in Pakistan is 15.8% higher than in India, according to the World Bank PovcalNet figures. Median per capita wealth in Pakistan in Pakistan is 120% more than in India, according to Credit Suisse Global Wealth Report 2016.  The median figures reflect the financial situation of the people at the 50th percentile of the income and wealth distributions in each country.

The income and wealth concentration in the hands of the richest top 1% skews the average per capita incomes and makes the material well-being of average citizen look better than it is.  The best way to measure how well or poorly an average citizen is doing is to look at the median income and wealth, not the average or mean. Median income and wealth figures in South Asia show that average Pakistanis are better off economically than their counterparts in India.

Related Links:

Haq's Musings

Credit Suisse Global Wealth Report 2016

Pakistan's Middle Class Larger and Richer Than India's

Pakistan Translates GDP Growth to Citizens' Well-being

Rising Motorcycle Sales in Pakistan

Depth of Deprivation in India

Chicken vs Daal in Pakistan

China Pakistan Economic Corridor

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Tuesday, January 10, 2017

Altaba: Is Yahoo Stealing a Pakistani Business's Name?

Altaba, the new name for Yahoo after its deal with Verizon, is currently the name of a Pakistan-based company spelled as Al-Taba, according to the New York Times. Is this plagiarism?

Not only is the new Altaba a much bigger company than Al-Taba, the two companies operate in totally different industries: The Pakistani company manufactures surgical and beauty scissors.

The new name for what will remain of Yahoo is a combination of words “alternative and Alibaba,” according to a person familiar with the company’s thinking, who spoke on the condition of anonymity  to the Washington Post.  After the rest of the company is purchased by Verizon for under $5 billion, Altaba's biggest  remaining asset will be its 15% stake worth $35 billion in the Chinese company Alibaba.  In addition, Altaba will also own 35.5% of Yahoo Japan.



As to the Pakistani company Al-Taba, its website describes it as "one of the largest private manufacturers and exporter of vast rang (sic) of Instruments.  It adds that "we specialized (sic) in Manufacturing Quality Medical Surgical Scissors and Beauty Scissors. It comprises of an integrated manufacturing facility, employing skilled craftsmen to produce broad range of professional Instruments".

It's sad to see Yahoo's demise. Started at Stanford University in 1994 by Jerry Yang and David Filo, the company is the pioneer of the web with an illustrious history in Silicon Valley. Yahoo enabled millions and billions of users to search the web for a variety of content and use its many services including e-mail, shopping and Yahoo groups. It will be missed.

Related Links:

Haq's Musings

The Trump Phenomenon

Islamophobia in America

Silicon Valley Pakistani-Americans

Pakistani-American Leads Silicon Valley's Top Incubator

Silicon Valley Pakistanis Enabling 2nd Machine Revolution

Karachi-born Triple Oscar Winning Graphics Artist

Pakistani-American Ashar Aziz's Fire-eye Goes Public

Two Pakistani-American Silicon Valley Techs Among Top 5 VC Deals

Pakistani-American's Game-Changing Vision 

Minorities Are Majority in Silicon Valley 

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Sunday, January 1, 2017

Pakistan in 2016: Economy, Security & Relations With India, US

How was the year 2016 for Pakistan? What can Pakistan expect in 2017?

Did Pakistan’s internal security improve in 2016? If do, how? And by how much? How was it done? By Zarb e Azb military operation? Did Pakistan implement the National Action Plan to address extremism and radicalization in society?

Source: South Asia Terrorism Portal

How did Pakistan’s economy do? And how did the stock market do? Did improved security help? Did China Pakistan Economic Corridor (CPEC) investments help boost investor confidence in the country?

Source: Bloomberg



What caused deterioration in India-Pakistan ties? Was it the murder of Burhan Wani and India’s attempt to blame it on “cross-border terrorism” from Pakistan? Did Indian PM Modi succeed in isolating Pakistan?

How will Obama’s exit and Trump’s presidency affect US-Pakistan relations? Will these be as bad as under Obama? Or better? Or worse under Trump? How will Pakistan’s close ties with China and warming relations with Russia play into this?

Viewpoint From Overseas host Faraz Darvesh discusses these questions with panelists Misbah Azam and Riaz Haq (www.riazhaq.com)

https://youtu.be/87m_t7D8ftY





https://vimeo.com/197727259




Related Links:

Haq's Musings

Pakistan KSE100 Stock Index Among World's Top Performers

Obama's Parting Shot: New Sanctions on Pakistan NESCOM

700,000 Indian Soldiers vs 10 Million Kashmiris

Is Modi Succeeding in Isolating Pakistan? 

China Pakistan Economic Corridor: 2 Million New Jobs

Impact of Trump Appointments on US Policy

Pakistan-China-Russia vs India-US-Japan

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