Who’s wealthier, a Maasai elder or your average American?
A few years ago, my wife and I enjoyed a marvelous hike through the bush of Tanzania while on safari. After camping in the village of Nainokanoka, we set off early with Moloton, our Maasai guide, and we walked amongst the buffalo, gazelles, wildebeest, and zebra on our way to a campsite at Empakaai, a gorgeous crater lake that legions of flamingos call home.
It was positively Edenic … I still can’t believe my wife did it while pregnant …
Anyway, as we walked through some of the villages, I noticed an abundance of domesticated animals grazing around the boma— cattle, goats, sheep, chickens.
Since this was a long hike, I had lots of time to get lost in thought. And I kept pondering the question at the top of this page. (more…)
I’ve been digging through some historical tax receipts data (#NerdAlert) to determine whether investment income — defined as net income from taxable interest, dividends, capital gains, and rent — has been rising as a share of gross income. To my surprise, it has been fairly flat at around 10% in recent years (see Exhibit 1). (more…)
Farhad Manjoo has a thought-provoking piece on tech companies staying private. This is a dynamic that Benedict Anderson recently highlighted in an Andreessen Horowitz presentation on the state of U.S. Venture Capital / Tech Funding that deservedly generated a lot of buzz (see: US Tech Funding). Both are worth reading if you’re into these sorts of things.
In a rare hour of silence I took to the blog to jot down some thoughts / questions that occurred to me while reading the article. (more…)
Nigeria is not a great country. It is one of the most disorderly nations in the world. It is one of the most corrupt, insensitive, inefficient places under the sun … It is dirty, callous, noisy, ostentatious, dishonest and vulgar. In short, it is among the most unpleasant places on earth!1
It’s dirty and an environmental nightmare, with piles of rubbish literally everywhere, and its natural resources have been stripped bare. Nothing works and everything is seriously dilapidated, the infrastructure is totally inadequate, there are frequent shortages of fuel, electricity and water, and vehicle traffic and human congestion are tremendous … It’s appalling and awful, fascinating and appealing, and funny and sad, all at the same time; Nigeria is that extreme … But if you’re up to the challenge, it’s one of the most exciting and engaging countries in the world and I have been treated with nothing but friendliness and helpfulness at all times.2
I would say that Ikoyi island is fine to wander but VI might be a bit dodge. I can only share the story of a [brewing company] employee who wandered home from a bar in VI drunk and, after a brief express kidnap, found himself deposited in the middle of the third mainland bridge wearing only his Y-front underpants and facing a long walk home …3
To say my expectations for Lagos, Nigeria were low would be an understatement. They were positively subterranean. Despite the intervening three decades since Chinua Achebe composed The Trouble with Nigeria—source of the opening quote to this post—virtually everyone I knew who had visited Nigeria believed it to be an accurate description of the country today, and they left me with the distinct impression that I (1) was an idiot; (2) had signed up for a miserable experience; and (3) may very well not make it home alive. I was half convinced I was going to be kidnapped by Boko Haram. (more…)