Hello dear readers and welcome to this week’s edition of
Markets, Real Estate & SME. We trust you had a pleasant week and we look
forward to bringing you some “cross-blog” content today.
Your editor has recently started running the blog for the
Enterprise Network for Young Australians and will occasionally be referencing
relevant materials from that portal.
Today we bring you some content from one of our usual sources,
the Daily Reckoning Australia, more specifically the weekend post by Sam
Volkering, which focuses on your editors favorite industry, technology.
MARKETS
The Dark Side of
Technology - See the original article here
By Sam Volkering •
July 20th, 2013
'One ought never to turn one's back on a threatened danger
and try to run away from it. If you do that, you will double the danger. But if
you meet it promptly and without flinching, you will reduce the danger by half.
Never run away from anything. Never!' - Winston Churchill
It's with the words of Winston Churchill in mind that we
need to confront an issue that will exist as long as we continue to drive
forward as a connected, technologically advanced world. The issue we face lurks
in the shadows and underground movements.
It's the dark side of technology...
There is 'world ending' potential that innately comes with great tech
breakthroughs and innovation. It's those that twist technology with the
potential for good to be an instrument of evil and to take part in illegal,
criminal activity that we must be aware of.
It's the epitome of good vs. evil, Skywalker vs. Vader.
You only need to watch the daily news or head down to the
local cinema to see how the world will end up when technology takes over. Rise
of the Machine, Big Brother, HAL9000, The Matrix...all (fictional) examples of
technology spreading evil and atrocity.
Typically we paint a rosy picture of the future. We think
technology will bring great prosperity to the world. The benefits of
technology will far outweigh the perils and dangers that are so often the focus
of people's mindset.
However, it would be remiss of us not to delve into some of
the potential dangers of technology. And thus in understanding the good that
comes from tech, it's important to understand the darkness that also comes with
breakthroughs and innovation.
To paraphrase Churchill, don't run from it, confront these
issues and you might have a part in making sure the future of our world sides
with the good technology can bring, not the dark
side.
The Dark Web, Your Online Shadow
One fact of life you need to get your head around if you
have a computer is this: according to the annual Norton Cyber Crime Report
(NCCR) there's a 66% chance you have already experienced cybercrime. That
figure will grow over time. It's rational to say if you use a computer you will
experience cybercrime at some stage in your life.
That's serious. You will experience cybercrime.
Maybe they should change the famous saying to, 'There are only three
certainties in life, death, taxes and being hacked.'
The NCCR also estimates in 2011 Cyber Crime fleeced the
world of over $110 billion. Let's break that down a bit further.
Every second of the day 18 people fall victim to cybercrime,
that's 556 million people per year. If it takes you 10 minutes to read this
essay, 10,800 people will have been victimised by some form of cybercrime.
And cybercrime comes in some innocuous forms. Most
cybercrime operates silently, through malware, viruses and trojans. (These are
all types of little bugs that silently sit in your computer and provide
information to their creators, hackers.)
You might see it as an email from 'Canadian Pharmacy' or
possibly an email from a lawyer in Nigeria claiming you're entitled to a
multi-million dollar estate claim. At the other end of the spectrum, you might
be a direct target. Your bank account defrauded, your identity stolen or your
website hacked.
Scammers send over 75 million scam emails every day. And
every day about 2,000 people fall into the trap.
But when it comes to your online security there's actually a
pretty easy solution to it all. Have strong passwords and some level of online
security.
It's that simple. Have a difficult password with both upper
case and lower case letters and numbers. Do that and you greatly decrease your
risk of becoming another cyber victim.
It will take a hacker over 438 times longer to crack a six
digit password with upper case and lower case letters and numbers, than a
password with just lowercase letters.
However as strong as your security might be, there's a
situation where no matter what you do, no matter how much security you have, if
hackers want your information bad enough, they'll get it.
And I'm not talking about some well-paid teenager in a
warehouse full of computers in the backstreets of Moscow. (Most people think
the US and China have the most active hackers. Russia actually has more hacks
originate from it than any other country in the world.)
I'm talking about hackers that sit inside the walls of the
civil service. I'm talking about government employed hackers, spooks, and
spies. If they want information they'll comfortably find a way to get it.
You might have heard of the US National Security Agency
(NSA) and their PRISM program. Effectively PRISM is a monitoring project with
the NSA taking information about everyone from the data servers of Google,
Facebook, Yahoo, Microsoft and other major tech companies.
If it wasn't for the now infamous whistleblower Ed Snowden
we'd all still be none the wiser. And the NSA would continue on their merry way
watching everything we do online. Note: There's a pretty good chance they're
still doing it anyway.
But it's not just American government agencies that are
proficient in monitoring their citizens. Have you ever received a letter or
email from the Australian Tax Office (ATO) saying you haven't declared interest
from one of your online savings accounts? I have, and so has Kris. It concerns
us how the ATO knows I had $2.63 in interest in the 2011-12 financial year.
It's the same deal when e-Tax asks if you want to
pre-fill your tax return. Pre-fill? With what information? Oh, just my income,
interest, purchases and sale of stocks, Medicare info, etc. The list of
information the Australian government has about me is profound. And disturbing.
If you think your information is private, you're wrong.
With that in mind, when the government asks you to
voluntarily part with your information for research or for maintenance, tell
them to bugger off.
One more point on online security and privacy. You need to
treat your mobile phone and tablet as a portable computer. Meaning you need the
same security measures to protect yourself on the go. If you ever connect to a
public Wi-Fi network make sure you've got high level security. When you use
public Wi-Fi, you may as well be a Millwall fan walking into a West Ham
pub...you will be attacked.
So be smart, have different passwords, make them difficult,
and don't open any emails from Nigerian Lawyers. Also be discreet with how much
of your own information you hand over to government departments. It will go a
long way to protecting you online.
But the dark side of technology isn't just about cybercrime
and the pitfalls and perils of living in an interconnected world.
Don't Think About It, It Might Land You in the Slammer
Take for instance our ever increasing knowledge of the human
genome and the current work to map the neurones and connections of the brain.
This will help take the world forward in neuroscience and our understanding of
human biology. It will also help us develop computer and artificial
intelligence systems to improve the efficiencies of the world.
But there of course is a dark side to all this. What if
particular brain activity and genes that you had meant that were potentially a
psychopath, or a career criminal?
Think about it. What if because of your DNA, and your
brainwaves, scientists could predict that you were more likely to commit crime
in your life?
What if they had the power to lock you up...even before
you'd actually committed a crime? And who's to say you would ever commit a
crime? Because science also says environmental factors play a significant role
in criminal activity.
We all know governments love to find a way to control
citizens and they always find a way to take an authoritarian approach to crime.
With the use of powerful supercomputers, algorithms, molecular and neuroscience
maybe the next step in fighting crime is to predict it. It's already happening.
Scientists in New Mexico are already using brain scans to
predict criminal behaviour,
'The scientists studied the brains of 3,000 convicted
criminals using magnetic resonance imaging. They specifically studied the
anterior cingulated cortex (ACC), a brain region associated with error
processing. What they found is that inmates with low ACC activity were twice as
likely to commit crimes within four years of being released as those with high
ACC activity.'
And if the study of the brain goes a way to predicting
criminal behaviour, what if even before a child is born genetics will be able
to determine criminal traits?
With readily available technology you could manipulate the
unborn child's genes to silence the unwanted genes, breeding crime out of
future generations.
Not only does that kind of genetic manipulation throw up a
whole range of ethical issues, but it also goes a long way towards generations
of genetically modified children. Is that wrong? Or is that the inevitable way
of the future?
That's a whole different discussion which we won't delve
into now. But one thing's for sure, molecular technology will have a big impact
on the lives of generations now and generations that aren't even born yet.
Iraq, Iran...What About Albert Park?
Finally one of the more underground elements of the dark
side of technology is accessibility of illegal things to everyone.
With the internet effectively connecting everyone it means
more and more people have the resources available to take part in illegal
activity.
Put it this way. Right now without too much stress I could
anonymously get online, find my way through to a black market website and
purchase guns, high powered lasers or illegal substances. It's as easy as
shopping on Catch of The Day or eBay.
And if you're a smart kid, with an interest in science,
there's opportunity (with the wrong influences) to start down a path that leads
to some pretty terrifying stuff. Michio Kaku, a famous Theoretical Physicist,
describes the potential dark side technology has for the generations to come,
'You can create a laser beam, a laser beam with exactly the
energy of the difference between these two [Uranium, U235 and U238] so that you
can activate one but not the other. In other words laser beams can be used to
zap these atoms and separate out U235 from U238. Well this means in some sense
somebody in their basement at some point in the future might be able to build a
separation device to create U235. That's a nightmare we don't have yet, but
it's a nightmare we will have in the coming years as the price of laser
enrichment of uranium goes down.'
What Kaku is describing is the potential for someone with
access to the right tools in the near future to create enriched uranium. In
other words weapons grade uranium. Forget Iraq and Iran, it might mean weapons
of mass destruction (WMD's) next door!
The building works across from our office looks to have a
suspiciously fortified basement being constructed...maybe it'll be a secret
science lab? A nuclear test facility? It's unlikely, but it's possible in the
near future. Who really knows what goes on in the neighbour's basement science
lab?
It's a pretty extreme example of the kind of dark activity
technology provides access to. But you need to understand that it's something
that will always lurk around the corner in the shadows. The dark side of
technology is always going to be complimentary to the positive advances it
brings.
The best way to combat the dark side of technology is to
understand it and don't get paranoid about it. By getting a grasp of
the things that are possible, and the likelihood of things actually occurring,
you will have a better understanding of how to deal with it.
Yes you will likely be hit with a virus of malware, yes your
information at some point will likely be used without permission and yes your
neighbour will likely make some homemade rockets (WMD's are unlikely). But
don't get paranoid about it. There are more positives to
take out of technology than bad points.
Just be smart. Have secure passwords, don't divulge with
information so freely, be aware of your surroundings and take care online just
like you would if you were walking the streets at night on your own.
When you see the warning signs, when you notice something is
awry in your bank account, when you read that Nigerian email, or notice your
son is spending way too much time in the basement with his lasers, you'll be
able to take action.
As we all have a greater understanding of technology, the
good and the bad, we will be able to help shape the future to ensure
good technology always outstrips the dark side.
Regards,
REAL ESTATE
Chinese appetite for
Australian residential property hits $5.4 billion as demand for luxury property
rises
The value of Australian residential property purchased by
Chinese-based buyers reached $5.4 billion in the 2013 financial year, according
to figures from Chinese property portal Juwai.com.
This is around a 25% increase on US$4 billion ($4 billion to
$4.2 billion in local currency) of Australian property purchased by Chinese
buyers in 2011.
"Chinese make up the fastest growing ...continue reading
Australian housing is
not overvalued but “dire predictions” spooking new housing investors:
Christopher Joye
“Hysteria” about Australian housing being overvalued is
spooking institutional investors from investing in much needed new housing,
says Rismark economist Christopher Joye.
Joye says contrary to what’s being said by some in the
media, housing in Australia is not overvalued.
Delivering a presentation titled “Australia’s Broken Housing
Model” at the recent HIA Housing Summit which highlighted a serious ...continue reading
Real Estate
Investment Trusts roll out results
The 2013 reporting season will start this week, with
Australand the first real estate investment trust to reveal its performance for
the past six months.
The remainder of the REITs roll out their full-year numbers
from mid-August and all are expected to show solid growth.
Analysts are expecting the directors' narrative to focus on
the ongoing balance sheet repair, including debt refinancing at lower margins.
This is good news, as it has led many REITs' security prices
to be ...continue reading
SME
22% of top Australian
firms have zero social media usage
Earlier this year, Australian financial services firm,
Bibby, released its latest Bibby Barometer small business survey and found previous
social media success is driving more and more firms to adopt social media
strategies.
Almost two-thirds of businesses (65%) surveyed reported
social media has ...continue reading
Rudd’s fringe benefit
tax change drives an SME admin increase – what it means for you
Small to medium businesses will be burdened with more
administration obligations following Prime Minister Kevin
Rudd’s decision to abolish automotive salary sacrificing arrangements.
The decision was made to pay for the move to an emissions
trading scheme one year ahead of schedule. But the change means small
businesses will only be able to use one ...continue reading
Free trade agreement
back on the table with China – good news for SMEs
Trade Minister Richard Marles will travel to China early
next week to discuss a possible free trade agreement, signalling future
opportunities for SMEs.
The move follows Kevin Rudd's re-appointment as Prime
Minister, since earlier this year free trade talks were abandoned in favour of
a potential agriculture-only deal.
A free trade agreement with China has been in the works for
close to nine years and a spokesperson for Marles confirmed to SmartCompany this
morning he is planning to ...continue reading
Cross Blog Content
Business Schools: Are they disconnected from the entrepreneurial realities?Are universities and more specifically business schools presenting the right type of “stuff” when it comes to entrepreneurship?Are they too focused on teaching students about entrepreneurship as a phenomenon, rather than how to be an entrepreneur? And can that even be taught? I mean is entrepreneurship a profession, like becoming a doctor, or an engineer, or an accountant and can you learn a set of principles and standards on becoming an entrepreneur?Well maybe not exactly, but there is certainly a need to present entrepreneurship courses that are linked to the ‘real-world’ experience of entrepreneurs, incubator support programs and start-up business associations. There are of course two or perhaps three sides to this story talking in very general terms – 1) Students’ story; 2) Universities’ story; and 3) Support Organisations’ story
Source: http://www.babson.edu/enterprise-education-programs/education-educators/babson-insight/Articles/Pages/Ten-Secret-Elements-of-the-Entrepreneurial-Experience.aspx
1) Students’ story
On the one hand there are student expectations when they enroll in entrepreneurship courses. What do you expect to get if you enroll in a uni entrepreneurship course? What is your level of commitment to that course and tasks or activities that are required in that course? Not all students have the same expectations. Some enroll in entrepreneurship, because they are fascinated by it – they may pursue an entrepreneurship course to learn about entrepreneurship and gain more knowledge. Another group of students could be labeled as “dreamers” – they have heaps of great ideas and numerous ideas; and what they really want to do is dabble in their new venture ideas, but a course that requires them to put effort into turning these ideas into realities, is just too much hard work. There is also another, smaller group which research indicates is about 2 to 10 percent of students, who will take action even when they are studying. They not only want the action and excitement that surrounds a new entrepreneurial idea, but will get started at uni on their business, however small scale ~ indications are that these students are the most likely to start-up new ventures. Is there perhaps a group I’m missing here – those who are serious, dedicated and want a business one day, but they’re not sure what it will be and how to get there – are these students’ needs being met? Read more on the ENYA blog
That's it for this week's news filter. Until the next time dear readers...
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