Google Becoming A Hedge Fund

A couple of years back, I'd posted about how Google should become a hedge fund and use its access to data and trends to make investment decisions.  I'm sure they've had that idea long before I posted and it seems they're finally taking some action on it per SAI's post on the roles Google that they're trying to fill. 

Oman: The Middle East’s Hidden Gem

I spent a couple of days in Oman last week on the tail-end of my first trip to Dubai and Abu Dhabi.  The Sultanate of Oman is very different from its richer neighbors – no tall buildings, most cars are modest Japanese makes and ostentation is frowned upon.  Most Omanis practice the moderate Ibadhi form of Islam, distinct from Sunni and Shia, and have a long history from the Sumerians to the Portuguese occupation and they did a bit of colonizing themselves along the East African coast, notably Zanzibar (and you can still see Zanzibaris around).  The country is ruled by Sultan Qaboos bin Said who is revered throughout.  He has been using their oil money to invest in other industries, notably tourism.

Oman doesn't feature as a major tourist destinations, which is why it's a hidden gem.  Clean, safe with a chilled out vibe: there was none of the traffic or chaos of Morocco or Egypt, nor the hordes of tourists.  We hardly heard a car horn during our stay.  The people were warm and friendly.  We walked a couple of souks with nary a hawker or tout in sight and hardly got solicited by the (mostly indian) shopkeepers.  

Some tips and pix from the trip:

  • Muscat is one of the sleepiest capital cities I've been to.  While it has its history, most of the buildings are new or refurbished giving it a bit of an ersatz feel.  There isn't a whole lot to see so a day is plenty.  The souk was also pretty disappointing.  Since we had such a short trip, we used it as a base and stayed at the 'cheap and cheerful' Nomad B&B, which worked well.  It cost 45 rials (about $110), which isn't cheap for a B&B but for Muscat it was good value.  Other things like food and taxis are fairly reasonable, however.IMG_2790
  • Oman has spectacular scenery.  We did a day excursion first visiting the old capital town of Nizwa and seeing its livestock market and then headed into the mountains for some 4×4 driving around Wadi Tanuf.  We had Salim, our trusty guide/driver, take us around although many people rent their own 4×4 and do it themselves.  IMG_2801 IMG_2805 IMG_2813 IMG_2817 Camping is popular and I'd have loved to spend more time there doing that.  We didn't have time to make it to the desert (Wahiba Sands) but that ought to also be part of the itinerary.  Conde Nast Traveler has a couple of articles that can be used to plan itineraries.
  • Do yourselves a favor and hire Salim to take you around Muscat or on excursions.  A jolly, burly Omani who picked up English on his own, he is a character and made our trip.  He was full of stories and jokes, many of which had great build-up but no punch line, probably as a result of something being lost in translation from the Arabic.  But his incredible delivery followed by no punchline made it all the funnier.  I will always remember his story about the elephant and the mouse.  Best way to reach him is on his mobile, +96899141441, and tell him "Big boss & little boss" referred you (being marginally taller than Rafat, he named me big boss).  A whole day excursion in a 4×4 cost about 100 rials ($250) while half day drives in the saloon car are much cheaper.  We had him drive us to Dubai (3.5 – 5 hours depending on traffic & the border controls), which cost just 60 rials. 
  • Watersports and activities are also popular.  We went dolphin watching and snorkeling along the spectacular coast around Muscat, but Oman also has fishing, diving and kiteboarding.   IMG_2854  Dolphin in Muscat 

While a couple days wasn't nearly enough to properly see Oman, I'm glad I went and would definitely go back.

Dubai and The Abu Dhabi Media Summit

The first ever Abu Dhabi Media Summit was held this past week at the impressive Yas Hotel, which will be the site of the Grand Prix later this year.  The track literally goes around and 'through' the hotel so it should be quite a show for guests.  At any rate, it was my first trip to the region and an informative one.  I first went to Dubai and then on to the Summit:

  • Dubai is a grand 'if you build it, they will come bet'.  It doesn't have the oil of its neighboring Emirati states and so it decided to fashion itself as the commercial/financia/media center of the region.  Last year's crisis obviously took a lot of the wind out of Dubai's sails but the show goes in.  It was as expected from that I've read and heard:  a growing but soulless city offering lots of professional opportunities.  Many of the people I met tried to rationalize either their time in Dubai or else were a bit on the defensive when asked about the crisis.  But it is a melting pot (literally in the summer!), with people from all over the world living and working there.
  • Dubai is known to go over the top on many things and buildings is no exception.  The Burj Khalifa skyscraper, is truly magnificent. IMG_2784 As many publications have noted, by changing the building's name in Sheikh Khalifa's honor, Abu Dhabi reminded Dubai just where it's bread is buttered, after bailing it out last year.
    There is also a metro with beautifully-architected stations but no one seems to use it much.
  • The Abu Dhabi Media Company have ambitions to become a real player on the world media stage.  With speakers such as Rupert Murdoch and Eric Schmidt and the high caliber of attendees, it is well on its way.
  • Digital media is still in a relatively early stage in the region – for instance, there aren't any credible remnant ad networks.  Proper broadband connectivity at affordable prices is only a few years old, and that is mainly in the Emirates as opposed to other Gulf or Middle Eastern countries.
  • Middle Eastern business norms involve establishing and respecting hierarchy whereas Western and especially Internet business culture tends to be egalitarian.  This proved a sometimes jarring juxtaposition.
  • Having speakers and attendees from China and India – two rapidly emerging internet powers – made lots of sense and bodes well for the ADMS.
  • While people recognize that it's early days for the region, there is a sense of possibility given the wealth and demographics. 

Thanks to the ADMS organizers for their hospitality; I look forward to hearing how things develop with both the ADMS and the Middle East tech/new media scene.

Proudly powered by WordPress
Theme: Esquire by Matthew Buchanan.