Food for blog

Whenever we attend an event, there is live tweeting, live blogging, Facebook updates and we ask questions that our readers pose to us.

 

DO YOU remember Doogie Howser, MD, an American television comedy-drama starring Neil Patrick Harris as a teenage doctor?

If you were a child in the 1980s, you could not have missed it. Howser kept a diary on his computer and the episodes ended with him making an entry in the diary. That was possibly our first introduction to what is now known as web log or blog.

According to Merriam Webster’s Dictionary a blog is a website that contains an online personal journal with reflections, comments, and often hyperlinks provided by the writer.

Blogs have become tremendously popular among Malaysians as they look for an alternative source of information to supplement what is being reported in mainstream media.

By the end of last year, marketing research company NM Incite tracked over 181 million blogs around the world, up from 36 million only five years earlier in 2006.

So how big is blogging? NM Incite says three out of the top 10 social networking sites in the United States — Blogger, WordPress and Tumblr — are for consumer-generated blogs.

Blogger is the largest of these sites with more than 46 million unique US visitors during October 2011, making it second only to Facebook in the social networking category, and Tumblr was the fastest-growing social networking or blog site on the top 10, more than doubling its audience since last year from home and work computers to 14 million unique visitors.

Overall, these three blogging websites combined for 80 million unique visitors, reaching more than one in every four active online users in the US during October 2011.

And who are these bloggers and what else do they do online? A study by NM Incite indicates that women make up the majority of bloggers, and half of bloggers are aged 18 to 34.

Most bloggers are well-educated: seven out of 10 bloggers have gone to college, a majority of whom are graduates and about one in three bloggers are mothers, and 52% are parents with children under 18 in their household.

Yang: Blogging with passion will eventually allow you to do it full time.

Besides this, bloggers are active across social media: they’re twice as likely to post/comment on consumer-generated video sites like YouTube, and nearly three times more likely to post in message boards/forums within a month.

According to Nuffnang, Asia-Pacific’s first blog advertising community, bloggers generate income through ads placed on blogs by various brands, and become part of a close-knit community through a vast range of exclusive events and contests.

“In Malaysia, blogging started growing exponentially in 2007 when Malaysians started seeing its commercial viability,” said Nuffnang co-founder Timothy Tiah.

Nuffnang has approximately 250,000 bloggers on its books and Tiah revealed that almost 50% of them are active.

“In the US, some bloggers have successfully evolved into full-fledged media companies that employ full-time writers and editors,” said Tiah who believes blogs and traditional media can co-exist.

“Clients do not view blogs as an alternative to traditional media. We are benchmarked against Twitter and Facebook.

For example, having an editorial piece in the New York Times supersedes one by an online publication,” Tiah explained.

Local blogging heroes such as Paul Tan and Vernon Chan, and Singaporean Dawn Yang agree that blogging with passion will eventually enable one to do it full time.

Chan said his site (vernonchan.com) was born out of the love for technology.

“I enjoyed writing but in 2009, I decided to take it more seriously and focused my writing on gadgets and tech-related news,” said the former graphic designer.

“The blog now operates as a tech website with four writers on board.

“The tech scene is fragmented with plenty of players, but it’s healthy competition.

“I look up to sites like amanz.my and soyacincau.com as they were pioneers in this field,” he added.

Chan said that to remain competitive, a blogger needs to focus on speed, frequency and being current.

“Whenever we attend an event, there’s live tweeting, live blogging, Facebook updates and we ask questions that our readers pose to us,” said Chan.

He walks around with a tablet, two smartphones, a laptop, a DSLR camera and is always connected with his readers thanks to U Mobile broadband.

Tan echoed Chan comments and added that an honest blogger serves the reader and not the advertiser.

“We have gotten ourselves in trouble with a particular company a few times as they were not happy with some of the comments from the readers that were published on the website.

“They stopped inviting us for test drives and events for a while, but we serve our readers, and readership is currency, ” said Tan, the founder of paultan.org, a leading motoring website in Malaysia.

Tan also debunked the myth that people will read any content as long as its free online.

“Online readers are looking for something fast so it is important to be quick.

“We do live updates and we have trained our readership,” said Tan, whose company now owns popular Malay blog site, Ohbulan.com among others.

Tan did not mince his words when asked to comment about bloggers who only write advertorials.

“There are bloggers who only attend events if they are paid and will only write a blog posting if there’s a monetary exchange,” he said.

Across the causeway, controversial fashion and lifestyle blogger Dawn Yang (clapbangkiss.xanga.com/) was in Kuala Lumpur recently to attend an event and the 27-year-old told MetroBiz that she started blogging to keep in touch with her friends.

“It started by accident but in 2005, I won an online competition as Singapore’s hottest blogger. That opened many doors for me,” said Yang who was sent to Taiwan for a year to be an artist.

She also secured several endorsement deals from international brands to promote their brands on various platforms.

“Blogging has evolved over the years with Twitter, Instagram and Facebook. We can’t just operate on one platform,” said Yang.

Blogging in Malaysia is seen as an easy way to make a quick buck, but to quote blogging guru Alister Cameron: “As I have repeatedly written in one form or other, blogging is not about writing posts. Heck, that’s the least of your challenges. No, blogging is about cultivating beneficial relationships with an ever-growing online readership, and that’s hard work.”

By Nevash Nair

People as a product!

In digital space, users are increasingly being shaped as commodities by various sites and services.

LAST week, social photo-sharing application Instagram caused an uproar when it announced changes to its terms and conditions.

The changes were related to its advertising policy, and were interpreted by many people as the company reserving the right to share user information and pictures with advertisers (or to be used in advertising) without permission.

Instagram has since reversed that policy and apologised for the “confusing” language, stating: “Legal documents are easy to misinterpret.” (You can read its response at http://bit.ly/U79Nld.)

This seems to have pacified some users, but many are still fuming, while others have opted to try different photo-sharing apps as an alternative.

There are two primary issues with this. One is a privacy issue, in that the company would even consider sharing user information and pictures with its parent company Facebook and other third-party organisations (including advertisers).

The other is copyright; in the same response, Instagram co-founder Kevin Systrom wrote: “Instagram users own their content and Instagram does not claim any ownership rights over your photos. Nothing about this has changed.”

Users had every right to be upset. These are serious issues with severe repercussions, and it is becoming more and more common that online sites and applications are usurping the rights and control of their users. Facebook’s constant changing of privacy settings is legendary. The deeper we embed ourselves within such social network sites, the more we seem to get walled in.

As the days wear on, we find it increasingly harder to escape – most of our connections are in our social network of choice, our memories are stored within our profiles, and we are relying on it to be our source of information.

In many cases, we have come to depend on it for almost all of our interactions – we no longer need to remember people’s birthdays, we can send messages to each other conveniently without the need to store addresses, and we can broadcast our lives to all our friends at the click of a mouse.

Whether or not the reliance on such technology is a good thing is a different debate, but the fact is that the services these sites provide – it doesn’t matter if we never needed them before – are extremely useful.

However, many users don’t realise that this is still a service. Such technology has become so embedded in our lives that many of us have taken it for granted.

The fact that it is also primarily operated on the Internet has contributed to this sense of entitlement. Why buy newspapers when you get the news online for free? How many of us still send text messages via SMS now that there is iMessage, Blackberry Messenger and WhatsApp? With Skype and Viber, who needs to make traditional phone calls?

In some cases, it is easy to see how the companies behind them are making money. Newspapers now provide news for free (some have paywalls) with the hope of driving more traffic to their sites, which are plastered with advertising.

Apple and RIM, the maker of the Blackberry, promote their messaging systems to encourage people to buy their devices. Skype has a premium service that users can pay for as well as cheaper computer-to-phone rates which helps supplement its income. In that sense, the products these companies offer are obvious.

Social network sites like Facebook, Instagram and Twitter also have a product: You and me.

What they essentially do is no different from the media outlets – they sell their user base to advertisers. Unlike the print and broadcast media, however, these sites tend to have more information on their users which can be sorted or mined to help advertisers reach their target market.

Each update we post on these sites contains more information about our lives and what interests us – whether it’s in the words we use, the places we check in from or the photos we upload. And they have a lot of information. Citing European policy law, a student from the University of Vienna made a request to Facebook to hand over all the information it had on him. And Facebook provided it – all 1,200 pages of it.

The point here isn’t about how scary it is that a company has so much information on each of us – this too is a different debate.

The concern is that as technology advances, we are increasingly being shaped to be a product, and this is an awareness we have to carry with us constantly. It is pertinent to note that this is not a new phenomenon – the whole basis of the advertising industry is based on consumers being the product.

This is why newspapers are able to subsidise publishing costs to sell their products at a relatively low price (or in some cases, offer it for free) and why we get to watch television for “free”. Or pay very little.

We need this awareness because it will help us make decisions about how we navigate our digital lives. It will also help us reclaim some of the control – and our rights.

Instagram may have reversed that new policy for now, but there’s no saying it won’t come back in another form. Facebook has gotten away for many years with changes that its users do not like because few people are willing to walk away from it.

This is not to suggest that what these companies are doing is right. But the adage that nothing is free rings true in this situation. There are alternatives but each comes with a price.

The alternatives to these sites – some of which are on open-source platforms – may not be as polished and lack the critical mass to be as effective as the big social sites. Then there are the commercial entities which charge you (Flickr, for example, is capitalising on a sudden exodus from Instagram to its platform, offering its paying customers an additional three months of service).

It is only by carrying this awareness with us always that we can truly make the right decision – whether to stick with these companies, or stick it to them.

ReWired By Niki Cheong

Niki has just completed his MA Digital Culture and Society at King’s College London. Connect with him at http://blog.nikicheong.com or on Twitter via @nikicheong. Suggest topics and issues on digital culture, or pose questions, via email or on Twitter using the #Star2reWired hashtag. 

Hubby and wife laying low — no thanks to debtor son

< Hapless situation: Lee relating Chan and Yong’s story during the press conference.

IPOH: Chan Kwai Woh and Yong Yin Yoke, both in their 70s, have been moving from one budget hotel to another since Dec 17.

The elderly couple is trying to avoid being hounded and threatened by loan sharks from whom their 48-year-old son Voon Jiun had borrowed huge sums of money.

“I want to cut ties with my son for causing us so much trouble, and I request the loan sharks to find him instead of harassing us,” said Chan.

The 73-year-old part-time technician said their home in Taman Cempaka here was splashed with red paint on Dec 15 and Dec 23.

“We lodged a police report after the first incident and moved out without taking much clothes or even our high-blood pressure medicine,” he told a press conference at the office of Perak MCA Public Services and Complaints Bureau chief Datuk Lee Kon Yin here yesterday.

“After the first incident of paint being splashed in our porch we questioned our son about the matter and the next day he disappeared.”

Missing borrower: Voon Jiun has gone into hiding.

Chan and Yong, 70, have four other children but are afraid to stay with them as the loan sharks might also harass their families.

“It is stressful dealing with the loan sharks and we decided it was best to stay outside,” said Chan.

He believes Voon Jiun had fled after borrowing money from the loan sharks. His whereabouts are not known.

Showing photographs of his son, Chan said their relationship had been strained for some time.

“He had been staying for over 20 years in Australia, where he got married and has a 10-year-old daughter.

“However, he returned to Malaysia alone in June,” said Chan, adding that the family does not know what the son does for a living.

Meanwhile, Lee said he would write to the police to speed up the investigation on Chan’s report.

“I will follow them back to their house so that they can take their medication and other items.

“But I have advised them to stay put in their house. If there is any problem they can always contact the police, instead of staying in budget hotels,” he added.

By MANJIT KAUR
manjit@thestar.com.my 

The rotten heart of capitalism: interest rate-fixing scandals

The magnitude of the banking scam must be realised and tough action taken

The UBS building in Zurich. Photograph: Michael Buholzer/Reuters

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This is the year the consensus changed. Around the world, policy-makers, regulators and bankers recognised that the legacy of the 20-year credit boom up to 2008 is more corrosive than all but a few realised at the time. The bankers – and the theorists who justified their actions – made a millennial mistake. Navigating a way out of the mess was never likely to be easy, but it is made harder still by not recognising the magnitude of the disaster and the necessary radicalism involved if things are to be put right.

If there were any last doubts they were dispelled by the record $1.5bn fine paid by the Swiss bank UBS for "pervasive" and "epic" efforts to manipulate the benchmark rate of interest – Libor – at which the world's great banks lend to each other. The manipulation was at the behest of the traders who buy and sell "interest rate derivatives", whose price varies with Libor, so that cumulatively billions of pounds of profits could be made. Nor was UBS alone. What is now evident is that all the banks that made the daily market in global interest rates in 10 major currencies were doing the same to varying degrees.

There was a complete disdain for the banks' customers, for the notion of custodianship of other people's money, that was industry wide. It is hard to believe this culture has evaporated with the imposition of a fine. No banker falsifying the actual interest rates at which he or she was borrowing or lending, or trader who requested that they did so, had any sense that there is something sacred about banking – that the many billions flowing through their hands are not their own. It was just anonymous Monopoly money that gave them the opportunity to become very rich. The UBS emails, which will be used to support criminal charges, could hardly be more revealing. This was about making money from money for vast personal gain.

Interest rate derivatives are presented as highly useful if complex financial instruments – essentially bets on future interest rate movements – that allow the banks' customers better to manage the risks of unexpected movements in interest rates. Whether a multinational or a large pension fund, you can buy or sell a derivative so you will not be embarrassed if suddenly interest rates jump or fall. Bookmakers lay off bets. Interest rate derivatives allow buyers to lay off the risk that their expectations of interest rate movements might be wrong.

What makes your head reel is the size of this global market. World GDP is around $70tn. The market in interest rate derivatives is worth $310tn. The idea that this has grown to such a scale because of the demands of the real economy better to manage risk is absurd. And on top it has a curious feature. None of the banks that constitute the market ever loses money. All their divisions that trade interest rate derivatives on their own account report huge profits running into billions. Where does that profit come from?

The answer is it comes largely from you and me. Global banking, intertwined with the global financial services and asset-management industry, has emerged as a tax on the world economy, generating much activity and lending that has not been needed, but whose purpose is to make those who work in it very rich. The centre-left thinktank IPPR reports that people with identical skills earn on average 20% more in financial services than in other industries, with the premium rising the higher the seniority. That wage premium does not come from virtuous hard work or enterprise. It comes from how finance is structured to deliver excessive profit.

Scandalous

The Libor scam is an object lesson in how finance taxes the rest of the economy. Plainly, the final buyers of the mispriced interest rate derivatives could not have been other banks, otherwise they would have lost money and we know that they all made profits. In any case, they were part of the scam. The final buyers of the mispriced derivatives were their customers. Some must have been large companies, but many were those – ranging from insurance companies and pension funds to hedge funds – who manage our savings on our behalf.

Here a second scam kicks in. One of the puzzles of modern finance is why the returns to those who buy shares in public stock markets are so much lower than the profits made by the companies themselves. One of the answers is that there are so many brokers, asset managers and intermediaries along the way all taking a cut. Sometimes it is through excessive management fees, but another way is not doing honest to God investing – choosing a good company to invest in and sticking with it – but through churning people's portfolios or unnecessarily buying interest rate derivatives to protect against interest rate risk, while charging a fee for the "service". Many of those mispriced interest rate derivatives will have ended up in the investment portfolios of large insurance companies and pension funds or, more sinisterly, in the portfolios of the banks' clients.

Most rotten

Bank managements are presented as ignorant dolts, fooled by rogue traders. They were no such thing. The interest rate derivative market is many times the scale than is warranted by genuine demand precisely because it represented such an effective way of looting the rest of us. The business model of modern finance – banks trading on their own account in rigged derivative markets, skimming investment funds and manipulating interbank lending, all to underlend to innovative enterprise while overlending on a stunning scale to private equity and property – is not the result of a mistake. It represents a series of choices made over 30 years in which finance has progressively resisted any sense it has a duty of custodianship to its clients or wider responsibilities to the economy. It was capitalism allegedly at its purest. We now understand it was capitalism at its most rotten. It needs wholesale reform.

The government's proposals to ringfence investment banking from the rest of a bank's activities, following the proposals from Sir John Vickers, is a start. But it is only that. Last week, Conservative MP Andrew Tyrie's cross-party parliamentary commission proposed " electrifying" the ringfence with the threat of full separation if malpractice continues. It also considered banning banks from trading in derivatives on their own account. But while tough, the commission should extend its brief. The issue is to create a financial system in its entirety that serves individuals and business alike, makes normal profits and, above all, embeds its public duty of custodianship in the bedrock of what it does. The government fears that more upheaval will unsettle banking and business confidence. It could not be more wrong. Reform is the platform on which a genuine economic recovery will be built.

Comment by Will Hutton - Guardian
 Related posts:
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To Malaysians, time to learn to live without maids!

 

I REFER to the report in “Maids may snub Malaysia” (The Star, Dec 24, reproduced below).

People may wring their hands in despair now but bear in mind a litany of abuse cases and the fact that Malaysian workplace laws regarding maids have been dragged into the 21st century with better wages and conditions is too late.

People have justified for too long the treating of maids as second-class humans by claiming all sorts of benefits that they bring to these women.

In the report, it states “If maids chose not to come here, many women would either have to give up their careers or demand for more childcare centres”.

My sister in Australia has for the last 20 years worked in a full-time job, undertaken part-time university studies, raised three children, seen to my ageing father and ran a house.

All this she has done without a maid, housekeeper or cleaner.

She has not given up her career.

What she has gained from this are children who are emotionally intelligent, responsible, able to undertake tasks such as simple cooking, cleaning their bedrooms, washing the car, walking the dog and discovering that being part of family is learning to be responsible.

I know of countless Malaysian families in the same boat as my sister. The world will not end if maids don’t come.

GORDON REID Kuala Lumpur

Maids may snub Malaysia

By PATRICK LEE patrick.lee@thestar.com.my

PETALING JAYA: Malaysia may soon be the last choice of foreign domestic maids.

With other countries paying higher wages and the current low exchange rate of the ringgit, domestic maids may prefer to go elsewhere, warn economists.

RAM Holdings group chief economist Yeah Kim Leng said that although there would be a greater demand for maids, especially with an ageing population, it would be harder to hire them.

“Unless our income is able to keep up with the rising costs, fewer people will be able to afford maids,” he said.

He said that with improving economies in countries like Indonesia, Malaysia may no longer be viewed as a potential job market.

Yeah said more locals might have to work as maids and predicted a greater demand for outsourcing of domestic chores and daycare.

“The Government will have to look into an alternative for working parents,” he said.

Yeah was commenting on an announcement by Prime Minister Datuk Seri Najib Tun Razak that both Malaysia and Indonesia had agreed to review the cost structure for recruiting maids.

There has been a trickle of Indonesian maids into the country despite the signing of an MoU between Malaysia and Indonesia on May 30 last year which set a RM4,511 agency fee for the hiring of maids.

The Malaysian Maid Employers Association (Mama) has since claimed that the cost structure was not sustainable as agents were reluctant to bring Indonesian maids into the country, leading to a shortage.

MIDF research chief economist Anthony Dass said locals would have to choose between paying more for their maids or not having any at all.

“If another country offers better (fees) for maids and agencies, why should they come here?” he said.

Dass said increased wages for maids would reduce Malaysians' disposable incomes, especially if salaries do not go up.

He said if maids chose not to come here, many women would either have to give up their careers or demand for more childcare centres.

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