Tag Archives: drive

Why We Misjudged the Power of Prompting People to Drive Positive Change

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Explore groundbreaking science news and in-depth analyses featured in New Scientist.

Environmental and social challenges are urgent, yet many nations grapple with underfunding and political stalemates. Imagine if we could innovate ways to tackle these issues effectively and economically without the burden of partisan politics!

Nearly two decades ago, we and our colleagues in behavioral sciences considered this a real possibility. We proposed a sophisticated idea: social issues often stem from individuals making “poor” choices, whether it’s unhealthy eating, smoking, or polluting the environment. Traditional approaches rely on taxes or bans, but our fresh perspective aimed to encapsulate a gentler, psychologically aware method. By rethinking how choices are presented, we could encourage healthier and more sustainable options, while still allowing access to alternatives.

“Nudges” were viewed as potential solutions, suggesting that societal issues could be mitigated through slight shifts in individual behavior. For instance, to combat obesity, we might reduce portion sizes and reposition salad bars at the forefront of cafeterias. To address climate concerns, why not default homeowners to renewable energy options?

Initially, it appeared we were on the verge of a nudge revolution. A team of researchers, including ourselves, sought to identify subtle modifications in “choice architecture” that could spur behavioral changes and ultimately result in major societal impacts. This presents a golden opportunity to leverage psychological insights for transformative progress.

Fast forward almost 20 years and progress remains stagnated, leaving many disappointed. When nudges do yield results, the effects are minimal, short-lived, and often fail to scale. Furthermore, emphasizing individual behavior as the primary lens for societal problems may inadvertently empower various corporate entities to resist the more traditional yet effective policy measures like taxation and regulation that reshuffle the foundational rules and incentives driving societal actions, jeopardizing their interests.

In hindsight, we realize this outcome shouldn’t come as a surprise, though it certainly was at the time. Given that human psychology has remained fundamentally unchanged, the social dilemmas we face arise from systemic shifts—not individual choices. Events like 200 years of fossil fuel reliance or the surge of ultra-processed foods over recent decades are to blame, and individuals alone cannot resolve issues like carbon emissions or unhealthy eating patterns. Moreover, a focus on individual behaviors risks distracting policymakers and the public from recognizing the need for systemic reforms and policy-driven solutions.

Correctly identifying the problem might lead to companies resistant to regulations fortifying individual-level responses that seem effective but fall short. This phenomenon is already observable, as evidenced by attention-grabbing concepts like our personal “carbon footprint.” This branding didn’t emerge from environmental movements or NGOs but originated from a massive PR campaign by BP, one of the globe’s leading fossil fuel corporations, in the early 2000s.

No matter the social or environmental challenge at hand, those opposing comprehensive change often redirect the responsibility back to individuals. As behavioral scientists, we must avoid this trap moving forward.

Behavioral scientist Nick Chater and George Loewenstein explore these themes in their new book, On You (WH Allen), released on January 27th.

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Source: www.newscientist.com

Testosterone Boosts Sex Drive During Menopause – Could It Alleviate Other Symptoms Too?

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Therapy that balances testosterone and estrogen reduces menopausal symptoms

Alamy Stock Photo

The menopause can bring a host of challenging symptoms such as mood fluctuations, difficulties in concentration, and a decline in sexual drive. Hormone replacement therapy is commonly sought to alleviate these issues, primarily focusing on restoring estrogen and progesterone levels, which drop significantly during midlife. Recent studies indicate that testosterone may also play a crucial role in managing various menopausal symptoms beyond just libido, including mood improvement and muscle retention.

While typically categorized as a male hormone, testosterone is also present in women, albeit at lower levels—approximately ten times less than in men. Dr. Sarah Glynn, a contributor to menopause treatment guidelines at the British Society of Sexual Medicine, notes that limited understanding of testosterone’s effects has hindered research in this area, but recent findings are changing that narrative. Increasing evidence highlights the hormone’s crucial role in women’s sexual health and its potential benefits for cognitive, muscular, skeletal, and urinary function.

Approximately half of a woman’s testosterone is produced by the ovaries, with the remainder being synthesized by the adrenal glands. Testosterone levels generally peak in the 20s and begin to decline gradually after age 30, with production halving by middle age. Dr. Sharon Parrish from Cornell University mentions that although this decline often coincides with menopause, it may not be a direct result of it.

We know little about the health implications of this decline, but it is evident that it can reduce sexual interest. “[Testosterone] plays a critical role in sexual function,” states Dr. Joan Pinkerton from UVA Health in Virginia, influencing factors such as sexual arousal, desire, and lubrication. Consequently, it makes sense that nearly half of menopausal and postmenopausal women experience issues with sexual desire, with a leading cause being hypoactive sexual desire disorder (HSDD)—a distressing lack of sexual fantasies or desire lasting at least six months. In a survey of 1,800 postmenopausal women in Europe, over one-third reported reduced desire and more than half indicated decreased interest in sex.

The notion that low testosterone contributes to diminished sex drive was established in the 1940s. Numerous studies have consistently shown that testosterone replacement therapy can enhance sexual function in menopausal women. For instance, a 2005 report involving 533 women who underwent hysterectomies noted that those receiving testosterone patches along with estrogen reported more satisfying sexual experiences than those on estrogen alone. A similar study in 2010 corroborated these findings with 272 menopausal participants.

In 2019, a meta-analysis encompassing over 80 studies involving 8,480 women demonstrated that testosterone treatment for postmenopausal women significantly heightened sexual desire and increased frequency of sexual satisfaction, arousal, orgasm, and overall self-esteem. This study garnered support from approximately 12 medical organizations, including the International Menopause Society, the Royal College of Obstetricians and Gynecologists, and the North American Menopause Society, which endorsed the use of testosterone for HSDD.

Testosterone enhances sex drive by interacting with brain receptors that activate the neural pathways governing desire, explains Parrish. Thus far, only four countries—Australia, New Zealand, South Africa, and the UK—have approved women-specific testosterone products. The U.S. Food and Drug Administration (FDA) has yet to approve these, citing insufficient data on potential long-term side effects. Nevertheless, Professor Parrish argues this caution is unwarranted, stating that some studies have tracked participants for years without revealing increased risks of cardiovascular, breast, or uterine issues.

“Most healthcare providers focused on menopausal women seek an FDA-approved testosterone therapy that is both safe and effective. We genuinely believe there’s an urgent need for such treatments, particularly concerning sexual health,” Pinkerton comments.

Finding the Right Balance

Women report feeling more like themselves after menopausal hormone treatment

Cavan Image/Alamy

Some medical professionals believe that testosterone therapy can extend benefits beyond just sexual health. A 2023 analysis covering seven studies found that testosterone may contribute to increased muscle mass, reduction in body fat, and improvements in insulin sensitivity and cholesterol levels. In 2024, Glynne and her team assessed hormone therapy in 510 women experiencing perimenopause and menopause who were also on estrogen. After four months, around 50% reported fewer anxiety episodes and less crying, while approximately 40% noted improvements in mood, focus, and fatigue. More than a third experienced enhanced memory and reduced irritability. “Common feedback is that women feel more like themselves—stronger and more empowered,” states Glynn.

Yet, skepticism remains. Pinkerton cautions that many of these studies lacked control groups, relying heavily on self-reports, which raises questions about whether improvements were genuinely due to testosterone or might be attributed to a placebo effect. “There’s some evidence concerning cognition, mood, muscle strength, cardiovascular health, and bone health, but the lack of substantial randomized controlled trial efficacy and safety data doesn’t justify recommendations for these issues,” Parrish remarks.

Most clinical trials combine testosterone therapy with estrogen, though some studies indicate that testosterone alone can effectively enhance sexual function. However, due to frequent side effects such as acne and excessive hair growth, it is generally not advised. Glynne prefers to prescribe estrogen initially, adding testosterone only if symptoms remain unresolved.

Experts agree that comprehensive clinical trials focusing on testosterone’s impacts beyond sexual health are urgently needed. Questions concerning optimal timing, dosage, and duration also persist, as Pinkerton highlights.

What stands out is that many current menopause treatments fall short for numerous individuals, particularly those with a history of hormone-sensitive breast cancer who are hesitant to undergo estrogen therapy due to concerns regarding potential tumor growth or recurrence. “This represents a significant gap in knowledge, and we need more data,” Glynn concludes.

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Source: www.newscientist.com

Drag X Drive Review: Wheelchair Basketball in Wrist Convulsion Mouse Mode | Gaming Insights

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wA new console has hit the market, and it typically comes with at least one first-party title designed to highlight its innovative features. The PlayStation 5 showcases Astro’s Playroom, the Steam Deck has Aperture Desk Job, and the Nintendo Switch 2 boasts Drag X Drive. In this game, you will engage in competitive wheelchair basketball using Joy-Con 2’s new mouse mode (where you control the gameplay by sliding the joystick across a desk like a computer mouse). While it offers a solid demonstration of controller enhancements, Drag X Drive capitalizes on the high-energy nature of real sports and introduces a shallow spoofing element.

As a basketball game, Drag X Drive has you spending the majority of your time shooting hoops and dashing around the court. You can press the trigger to lift the wheels for a jump, raise each Joy-Con and flick to shoot, or pass the ball to teammates.




The thrill of joy… Drag X Drive. Photo: Nintendo

While this practical approach seems appealing, it isn’t as intuitive as one might hope, and ironically, accessibility is limited. Finding a comfortable position while pushing and rolling your palm is tricky, necessitating effort to truly grasp the control scheme. However, once you push through the initial difficulties, there’s an uncommon thrill in nailing a shot or assisting a teammate.

The Player Styles menu offers several additional gameplay options, enabling you to switch between different presets based on your playstyle. You can adopt a balanced forward style, evenly distributing rebound, strength, and speed skills, or choose a guard style that prioritizes speed at the cost of other stats. The ability to shift styles enhances the rocky onboarding experience and revitalizes gameplay in online multiplayer matches, a crucial aspect of the game.

At face value, Drag X Drive captures the essence of vehicle-based football games like Rocket League, where two teams compete by scoring points through trick shots and collisions. Yet, while Rocket League features vibrant arenas and dynamic graphics, Drag X Drive opts for a more restrained, atmospheric environment marked by its cold metallic aesthetic. The character customization menu allows you to change the colors of your wheels and chairs or select quirky accessories like cat ears and vintage driving goggles, but it lacks the warmth and whimsical charm typical of Nintendo.

https://www.youtube-nocookie.com/embed/Hku89o38-hQ?wmode=opaque&feature=oembed" title="Drag X Drive – Nintendo Direct | Nintendo Switch 2" height="480" width="854" allowfullscreen="

There’s an adrenaline rush, even amidst the challenges of managing character control and potential wrist fatigue, especially as your success hinges on your real-world stamina and players can easily pursue you. There’s a genuine sense of achievement when you nail a long-distance shot or execute clever assists. As you build confidence, you can start to exploit the halfpipes around the court, performing tricks to earn bonus points. A simple shot can transform into an impressive slam dunk, giving you a real sense of professionalism.


Throughout the basketball match, you’ll encounter some repetitive side activities, including jump rope mini-games, shooting contests, and obstacle courses. Excelling in these challenges and performing well in matches allows you to earn trophies, unlocking more cosmetics and enhancing your avatar’s aesthetic.

Despite some efforts to incorporate meta progression, the significant shortcomings of Drag X Drive become apparent over time. The gameplay can be cumbersome for extended sessions. While the mouse controls are theoretically intriguing and feel innovative during shorter matches, they start to falter in a fast-paced context. What remains are surprisingly inaccessible sports mechanics, lacking versatility and long-term engagement. Fans hoping for a spiritual successor to Nintendo’s earlier Rock ’em Sock ’em Brawler will likely be left disappointed.

Drag X Drive is currently available for £16.99

Source: www.theguardian.com

Can wordplay drive human evolution through resourcefulness?

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You’ll never know who spoke the first sentence or what they said, but you can have fun guessing. Perhaps they came from the mouths of Stone Age men who wanted to defeat their rivals and win the affections of young women. He may have crept up to his girlfriend, surreptitiously pointing at his competitors and whispering words in her ear that translated into English to mean “fuck you.”

Is it ridiculous? Not so, if we are guided by the work of linguist Liljana Progovac. She points out that Charles Darwin described language as “half art, half instinct,” but most who study the evolution of language have ignored the creative element. Her research addresses this issue by focusing on the wordplay involved in compound words such as shit-head, skin-flint, and lily-livered, many of which are now written as single words. I’m starting to fix it. She believes these are language fossils that point to a key stage in the evolution of language, the moment when humans realized they could string two words together to create very short sentences.

Moreover, after collecting examples of such phrases, Progovac noticed that they had something surprising in common. “They’re usually dismissive,” she says. And there may be evolutionary reasons for that.

Language is central to the human experience, but its ancient roots are difficult to study because it leaves no archaeological trace, at least until the invention of writing. Nevertheless, judging by the communication systems of other animals, our ancestors could use simple sounds and…

Source: www.newscientist.com

Theoretical astrophysicists debate the generation of gravitational waves during warp drive collapse

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The basic idea of ​​a warp drive is that rather than directly exceeding the speed of light in a local frame of reference, a “warp bubble” contracts space-time in front of it and expands it behind it, allowing travel over distances faster than the speed of light as measured by a distant observer.

Craft othersWe propose a formalism for the dynamical study of warp drive spacetime and generate the first fully consistent numerical relativistic waveforms for the collapse of a warp drive bubble.

Although warp drive has its origins in science fiction novels, according to Miguel Alcubierre, an astrophysicist at the University of Wales, warp drive is explained in detail in the general theory of relativity. Be the first to propose A space-time metric that supports faster-than-light travel.

Real-world implementation has many practical barriers, such as the need for a special type of material that has negative energy, but computationally, given an equation of state describing the material, it is possible to simulate changes over time.

In a new study, theoretical astrophysicists investigated the signatures that could result from a “containment failure” of a warp drive.

“Warp drives are purely theoretical, but they are clearly described in Einstein's general theory of relativity, and numerical simulations allow us to explore the effects of warp drives on space-time in the form of gravitational waves,” said Dr Katie Clough, researcher at Queen Mary, University of London.

“The results are fascinating: the warp drive collapse produces a unique gravitational wave burst — a ripple in space-time that can be detected by gravitational wave detectors that typically target merging black holes and neutron stars.”

“Unlike chirp signals from merging objects, this signal is a short, high-frequency burst that would be undetectable by current detectors.”

“But there may be higher frequency devices in the future, and although the money hasn't been put into those devices yet, the technology exists to build them.”

“This raises the possibility that we could use these signals to look for evidence of warp drive technology, even if we can't build it ourselves.”

“In our study, the initial shape of spacetime is the warp bubble described by Alcubierre,” said Dr Sebastian Kahn, a researcher at Cardiff University.

“Although we demonstrate that an observable signal could, in principle, be found by future detectors, the speculative nature of this work is not sufficient to drive instrument development.”

The authors also take a detailed look at the energy dynamics of a collapsing warp drive.

In this process, waves of negative energy matter are released, followed by alternating waves of positive and negative energy.

This complex dance results in a net increase in energy throughout the system and, in principle, could provide another signature of collapse if the emission waves interacted with ordinary matter.

“This is a reminder that theoretical ideas can inspire us to explore the universe in new ways,” Dr Clough said.

“I'm skeptical that we'll see anything, but I think it'll be interesting enough to be worth a look.”

“For me, the most important aspect of this work is the novelty of accurately modelling the dynamics of negative energy space-time and the possibility that the technique can be extended to physical situations that could help us better understand the evolution and origin of the universe or processes at the centre of black holes,” said Professor Tim Dietrich of the University of Potsdam.

“While warp speed may still be a long way away, this research is already pushing the boundaries of our understanding of extra-dimensional space-time and gravitational waves.”

“We're going to try different models of warp drive to see how that changes the signal.”

Team paper Published online Open Astrophysics Journal.

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Katie Clough othersThe year is 2024. A phenomenon no one has seen before: gravitational waves caused by warp drive collapse. Open Astrophysics Journal 7;doi:10.33232/001c.121868

Source: www.sci.news

Sui collaborates with Google Cloud to drive Web3 advancement through improved security, scalability, and AI features

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Chainwire, Palo Alto, CA, April 30, 2024

The collaboration is focused on addressing key Web3 challenges through data-driven insights, AI-powered development tools, and zero-knowledge proofs.

SuiThe layer-1 blockchain and smart contract platform created and launched by the core research team responsible for building Facebook’s Libra and Diem projects is working with Google Cloud to support the future of Web3 through a partnership with Mysten Labs. I am. This joint effort will focus on enhancing security, scalability, developer tools, and user experience across a variety of Web3 and AI-powered applications.

Key initiatives of this partnership include:

  • Data-driven dApps
  • By integrating Sui’s blockchain data into the BigQuery public dataset, Google Cloud strengthens its commitment to the Sui development ecosystem, providing developers with powerful analytical tools, new insights and innovative dApps. unlocked the potential of
  • Development using AI
  • Sui used Vertex AI, Google Cloud’s generative AI platform, and trained it in the Move programming language to help Web3 developers debug and extend code generation.
  • Mysten Labs uses Google Cloud’s AI and cloud capabilities to create a new AI-based code audit tool. This tool identifies security vulnerabilities in Rust, Move, Typescript, and Solidity, enhancing security efforts to quickly identify and remediate vulnerable code.
  • Seamless user experience
  • Sui’s zkLogin technology is already demonstrating the potential of this collaboration, as it bridges some of the gap between traditional (Web2) and decentralized (Web3) applications. zkLogin is a basic cryptographic primitive that uses OAuth credentials from Google and other trusted Web2 platforms to enable frictionless authentication of crypto wallets and dApps on Sui.
  • Robust and scalable infrastructure
  • Sui leveraged Google Cloud’s globally scalable infrastructure to enhance network security and high transaction throughput. This integration ensures high performance and seamless scalability.

said Evan Cheng, CEO and co-founder of Mysten Labs. “Working with Google Cloud allows us to accelerate the development of secure, scalable, and user-centric Web3 experiences.” “Google Cloud’s infrastructure and cutting-edge AI capabilities complement Sui’s unique technological strengths. We enable developers of all types to create next-generation decentralized applications on Sui.”

Amit Zaveri, Vice President, General Manager, and Head of Platforms, Google Cloud. “Sui’s advanced blockchain technology and commitment to a user-friendly experience make Sui a valuable collaborator for Web3 and Web2 developers to deliver innovative applications that are easy to adopt. Masu.”

Google Cloud is also committed to supporting the Sui developer community. Web3 startup program. The initiative will provide resources such as Google Cloud credits, access to his Discord channel with Web3 experts, foundation grants, and global events, all of which will accelerate the development of innovative applications at Sui. It is designed to.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. An object-centric model based on the Move programming language enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications at low cost and unmatched speed. Sui is a step-function advancement in blockchain and a platform that allows creators and developers to build amazing user-friendly experiences. learn more: https://sui.io

About Misten Lab

Mysten Labs is a team of leading experts in distributed systems, programming languages, and cryptography, and its founders were senior executives and lead architects of pioneering blockchain projects. Mysten Labs’ mission is to create the foundational infrastructure for Web3. learn more: https://mystenlabs.com

About Google Cloud

Google Cloud is a new way to the cloud, offering AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud provides a powerful, fully integrated, and optimized AI stack with unique global infrastructure, custom-built chips, generative AI models and development platforms, and AI-powered applications to transform your organization. We support. Customers in more than 200 countries and territories rely on Google Cloud as their trusted technology partner.

contact

global communication manager
Lexi Wangler
Misten Institute
lexi.wangler@mystenlabs.com

Source: www.the-blockchain.com

Microsoft’s Acquisition of Activision and Focus on AI Drive Robust Quarterly Earnings

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Microsoft on Tuesday beat analysts’ expectations as its big bet on artificial intelligence paid off, particularly in its Azure cloud computing unit.


The software giant reported revenue of $62 billion, up 18% from a year ago, beating expected profits of $61.1 billion. The Net income increased 33% year over year to $21.9 billion.

CEO Satya Nadella said: “We have moved from talking about AI to applying AI at scale. By bringing AI to every layer of our technology stack, we are gaining new customers and unlocking new benefits in all areas. and boost productivity.”

Microsoft Cloud revenue grew 24% year over year. According to the earnings report, Xbox Content and Services segment revenue increased 61% due to the acquisition of Activision Blizzard. Activision increased the company’s overall revenue by 4%.

Microsoft, which recently overtook Apple to become the world’s most valuable company, last week became the second company in history to have a stock market valuation of $3 trillion.

Microsoft is considered a leading player in the AI ​​space, both through its own efforts and its close relationship with ChatGPT maker OpenAI, of which it is the largest shareholder. In November, Microsoft CEO Satya Nadella played a key role in Sam Altman’s return as CEO of OpenAI after Altman’s shocking firing. Microsoft occupies an observer seat on his OpenAI board.

Jeremy Goldman, Senior Director of Insider Intelligence/eMarketer Briefing, said: “The company’s recent financial performance, which showed an impressive 18% revenue growth in today’s earnings call, is driven by innovation and strategy. “It shows a powerful combination of foresight.” “While peers such as Alphabet and Meta lead the way in his AI industry, Microsoft is solidifying its position as the frontrunner in his AI race.”

Microsoft’s influence over AI development is rapidly expanding, drawing increased scrutiny from regulators and those outside the technology industry. Investors brushed off concerns that the stock would face stronger headwinds as the stock rose 10% over the past month.

The Federal Trade Commission announced last week that it had opened an investigation into the company’s $10 billion investment in OpenAI, as well as its dealings with Google, Amazon, and AI startup Anthropic. Britain’s Competition and Markets Authority is also investigating the deal. European Union regulators said they may launch a similar investigation. The New York Times sued OpenAI and Microsoft in early December, alleging copyright infringement by ChatGPT.

The quarter also marked the first time Microsoft reported revenue with Activision Blizzard, the premier game studio behind hits like Call of Duty and World of Warcraft. Microsoft completed its $69 billion acquisition of the video game maker in October after lengthy back-and-forth with regulators.

Citing job cuts within both companies, Microsoft last week laid off 1,900 employees across its gaming division, including Activision employees and those working on Xbox consoles.

Source: www.theguardian.com

Kenyan E-commerce Firm Secures $20 Million Investment to Drive Growth, Former Metaswitch CEO John Lazar Joins Copia’s Board

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Kenyan e-commerce and fintech platform for mass market consumers copia global appointed John Lazarthe former CEO of Microsoft subsidiary Metaswitch, has joined the company’s board of directors on the back of $20 million in new funding.

Enza Capital, the pan-African venture capital firm co-founded by Lazar in 2019, is one of the larger participants in the Series C extension round, including global private bank LGT, investment firm Goodwell Investments, Also included is the U.S. International Development Finance Corporation (DFC). ), German financial services provider DEG, Swiss impact fund Elea, Perivoli Foundation and Sorenson Foundation.

Lazar has extensive experience building and managing businesses. He joined Metaswitch Networks in 1987 as a software engineer and later became Chairman and CEO as the company established its leadership in cloud communications software with investment support from Francisco Partners and Sequoia Capital. I was appointed CEO. Lazar, who resigned from both roles in 2016, four years before Microsoft acquired the company, is also chairman of the UK-based charity Raspberry Pi Foundation, and is an angel investor and investor in the UK and Africa. He is also a mentor to over 40 pre-seed and seed investors. investment.

In a conversation with TechCrunch, Lazar said he has a long-standing professional relationship with the Copia team that has impressed Enza Capital with its fulfillment network over the years and increased digital adoption from consumers. , admitted that this is one of the reasons to support e-commerce in Kenya. Clothes.

According to the International Monetary Fund (IMF), personal consumption in Africa is expected to exceed $2 trillion Over the next three years, the continent’s burgeoning middle class will drive this growth. Copia, which has been around for 10 years, targets rural, middle- and low-income African consumers. These consumers enjoy more choice, price, and access to goods and services compared to urban and high-income consumers who use Western-style or African-focused platforms such as Jumia and Takealot. , faces challenges in terms of reliability. Therefore, although this target market may be difficult to find and its wallet size may be small, Copia is approaching it with a hyper-local strategy, reaching a significant number of approximately 750 million people across Africa. We believe there is an opportunity given the collective purchasing power of

Copia leverages its local agent and logistics network to tap into this market. The company boasts a strong network of over 50,000 agents who are small business owners in towns and villages across Kenya and has served over 2 million consumers. Most of these orders executed through Copia’s distributor network are made offline, with customers ordering household goods, electronics, or food products in person at the distributor’s store, via USSD, or by phone. Ta.

However, driven by falling data costs and increasing smartphone penetration and ownership in Kenya (73% of low- and middle-income Kenyan consumers now own a smartphone, down from 10% a decade ago), A 10-year-old e-commerce company recently ran a campaign to digitize its agent network, increasing app usage from 5% to 80% in one year. Copia said in a statement that digitized agents can double their revenue, and by exploring smartphone financing models, they can focus their subsequent digitization efforts on millions of consumers. This will allow companies like M-KOPA to enter a thriving market.

“I have respected this company for a long time and think the conditions are right. E-commerce companies are facing some difficulties at the moment, but a kind of push towards digitalization is a good thing for us. It feels like a tipping point and just changes the game in unit economics and efficiency,” said Mr Lazar, who was awarded a CBE for services. “So when Tracy called us and told us they had this internal round and wanted to bring on additional partners, we were very excited to participate.”

Copia has recorded 100% annual growth over the past few years, with founder and chairman highlighting scale and rapid expansion as key objectives for profitability. tracy turner explained on the same call with TechCrunch. However, as global capital markets have experienced a downturn and investor focus has shifted from models that rely on scale for profitability, to now emphasize the importance of demonstrating sound unit economics. In response, Copia underwent fundamental changes last year.

The e-commerce company has secured more than $120 million in funding since its inception, including a $50 million Series C round in January, but this year it scaled back its expansion plans and implemented significant layoffs. . At least 700 roles will be eliminated. Reduce number of Kenyan employees by 25% July and Closed Uganda operations Similar to three months ago, this move is in line with broader trends seen across industries this year, with many companies considering reducing labor costs as their first strategy when adopting cost-cutting measures. are doing.

“We recognized in the capital markets environment that we did not want to continue operating in Uganda, which is a great market and opportunity. We did not have the funds to make it profitable, so it made sense to hold off there. Then we looked at our Kenyan operations and realized we needed to streamline there as well,” Turner said. “And the fact that our customers have become digital so rapidly, our current shift to a digital focus means we need to change the way we operate in Kenya. So we did this to focus our business on digital relationships with our customers, which is completely different than it was just a year ago.”

Copia’s shift in focus from simply growing sales to achieving profitability in Kenya has helped it minimize losses since new management took over in Q4 2022. It reflects a strategy similar to Jumia’s approach of slowing growth. Both companies face headwinds that call into question the sustainability of B2C electronic services. Commerce takes place in Africa, albeit with different e-commerce models operating. It is worth noting that B2B e-commerce platforms are also grappling with a series of challenges in the market.

Despite the challenges, executives from both e-commerce companies, which have been in business for 10 years, said in separate conversations with TechCrunch that the companies, which now offer financial services alongside e-commerce, are stable. We have unwavering confidence in our ability to achieve the same profitability. They argue that it is only a matter of time before these challenges are overcome and are optimistic about the future profitability of the business. However, both platforms face distinct goals. While Copia strives to achieve profitability in a single market, Kenya, Jumia has to compete across 11 markets.

But Turner said Copia, which will have annual revenue of more than $60 million by the end of 2023, maintains pan-African ambitions despite its focus on making money in Kenya. Point out. The founder and chairman said that once the e-commerce company achieves profitability in the East African market, it plans to expand to 14 other strategically planned countries. “We are keeping our heads down right now and focusing on Kenya and will not look up until we achieve that milestone. We have done a lot of scouting work and are planning where to go next. However, our international expansion plans will take place once we achieve profitability in Kenya,” she said.

As for John, as he said in the interview, three things remain of paramount importance to him now that he has joined the company’s board of directors. These include leveraging the experience and network of technical operators to support talent, providing sales and revenue generation strategies, and acting as a sounding board. To management.

Source: techcrunch.com