NWR's Profit Roars Back to Life☕ - Issue #15

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Namibia recorded a staggering N$94 billion trade deficit over three years, prompting urgent calls to address illicit financial flows bleeding the economy. And Toyota further cemented its dominance in Namibia's auto market, capturing a 50% share in April.

Microsoft is going all-in on making Windows an "AI operating system", unveiling powerful new Copilot+ PCs designed for deeply integrated generative AI experiences. The highlight is the revamped Surface Pro tablet, promising up to 90% better performance thanks to beastly AI chips from Qualcomm.

Elsewhere, a new Paris-based startup called H made waves by raising a massive $220 million seed round from billionaires like Eric Schmidt and Bernard Arnault. The AI firm, led by former DeepMind researchers, aims to develop advanced "frontier action models" to boost worker productivity.

Read on for more on these stories and more.

BUSINESS

Namibia's Trade Deficit Jumps to N$94 Billion in 3 Years

Namibia's trade situation is an absolute mess. Over the past three years, the country imported N$361 billion worth of goods but only exported N$267 billion, resulting in a massive N$94 billion trade deficit. Yikes.

But that's not the only shady part. The Bank of Namibia uncovered over N$1 billion in customs and clearing fraud during the same period. Clearly, someone was cooking the books.

The main culprit? Illicit financial flows (IFFs) bleeding the mining and fishing industries dry through sketchy practices like misinvoicing and profit shifting, according to the UN.

To fight back, Namibia hosted a UN workshop to get its anti-IFF strategy on track. Government bigwigs, statisticians, economists, and trade experts conferred on measuring the issue and plotting a new course.

The bigger picture: The workshop chair urged attendees to get "gritty" in this fight, calling it a battle "neither for the timid nor the fearful." A UN stat guru also noted that while IFFs thrive in chaos, international cooperation and strong political will can help cut them off.

Source: The Brief

Toyota Dominates Namibia's Car Market

Toyota is the undisputed king of Namibia's car market. The Japanese automaker captured a whopping 50% market share in April, with its vehicles accounting for half of all sales in the country.

Breaking it down:

• Toyota sold 174 out of 411 passenger vehicles (43.2% share)

• The Toyota Hilux and Land Cruiser pickup trucks were the top sellers

• Toyota's Corolla Cross crossover also moved 55 units

Volkswagen trailed behind in the distant second spot with a 14.1% passenger vehicle share, followed by Kia (11.7%) and Suzuki (9%).

Overall vehicle sales in Namibia plunged 38% month-over-month in April to just 899 units - the lowest monthly tally this year. Commercial vehicle sales led the decline from March's 1,451 units.

By country of origin, Japanese brands like Toyota dominated with 63.8% market share (574 units sold). German makers like VW and Mercedes took the silver medal with 114 vehicles moved, while South Korean brands like Kia took bronze (55 units).

Bottom line: In Namibia's car market, Toyota is the indisputable boss. Its stranglehold tightened even further in April as overall sales slumped. While the Land Cruiser and Hilux trucks led the charge, Toyota's crossovers are also gaining serious traction.

Source: The Brief

NWR's Profit Roars Back to Life

Namibia Wildlife Resorts (NWR) bounced back in a big way in 2023, recording a N$46 million profit after suffering a N$35 million loss the prior year. Revenue surged 32% to N$387 million as the tourism sector continued recovering.

The details:

• Revenue jumped from N$294 million in 2022 to N$387 million in 2023

• Profit swung from a N$35 million loss to a N$46 million gain

• Repair/maintenance spending rose 7% to N$27 million to improve guest experience

NWR's managing director credited the "solid financial performance" and improving metrics to the company's national tourism mandate. A key win - becoming debt-free by settling long-term loans in 2023.

Employee wins: NWR and the workers' union also inked a new deal to boost compensation. Lower-paid staff will see salaries rise to at least the new minimum pay scale, while housing allowances will increase by N$5,500 over three years.

Bottom line: After struggling through Covid's hit to travel, NWR's finances are back in the black. With debt paid off and a new labour deal, the state-owned resort operator is focused on investing in its properties to ride Namibia's tourism revival.

Source: The Brief

TECH

Microsoft Goes All-In on AI for Windows

Microsoft is making a massive AI push across its Windows ecosystem. At its annual Build conference, the tech giant unveiled AI-powered PCs, deepened AI integrations in Windows 11, and expanded its suite of generative AI tools for developers.

The main highlights:

Copilot+ PCs: These new Windows machines pack dedicated AI chips to power experiences like the file-searching Recall feature. With at least 16GB RAM and SSD storage, Copilot+ PCs from Acer, Dell, Lenovo, and others start at $999.

Windows AI Features: Recall lets users search their activity history to resurface old files and info. Other upcoming AI abilities include smart image upscaling, live video translations, and AI-assisted photo editing.

New Surfaces: The latest Surface Pro tablet and Surface Laptop get big performance boosts, with the Laptop lasting up to 22 hours on a charge. They also add haptic touchpads.

Dev Tools Galore: Microsoft launched AI tools like Copilot Extensions for GitHub, agents that can automate workflows, a pay-as-you-go AI model hosting service, and more.

Under the hood: Powering it all is the new Windows Copilot Runtime, a set of ~40 generative AI models integrated deeply into Windows as an "AI layer."

The big picture: Microsoft is going all-out to make Windows an "AI operating system." Its huge investments in custom silicon, AI smarts baked into the OS, and tools for devs signal a major prioritization of generative AI across Microsoft's ecosystem.

Key quote: "We're deepening our partnership with Meta to make Windows a first-class experience on Quest devices," said Microsoft exec Pavan Davuluri, hinting at the metaverse ambitions underlying these AI moves.

Bottom line: With this sweeping AI offensive across hardware and software, Microsoft is betting big that deeply integrated generative AI supercharges productivity - and puts it ahead of rivals like Apple and Google in the race to build the AI-powered operating systems of the future.

Source: TechCrunch

Microsoft's New Surface Pro Is an AI Powerhouse

Microsoft just unveiled the new Surface Pro tablet, and it's packing a major AI punch. As the first device in Microsoft's new "Copilot Plus PC" lineup, the revamped Pro promises insane performance gains thanks to powerful AI silicon.

The details:

• Up to 90% faster than the previous Surface Pro, powered by Qualcomm's Snapdragon X chips

• Optional 5G connectivity and 14 hours of video battery life

• New OLED display option, Wi-Fi 7 support, and upgraded cameras

• Starts at $999 for base model, up to $2,100 for maxed out 32GB RAM/1TB storage

Designed for AI: Microsoft is betting big that deeply integrated AI boosts like the new "Recall" feature (which surfaces past activity) will supercharge productivity on these Copilot Plus PCs.

As Microsoft CEO Satya Nadella put it, they're "the fastest, most AI-ready PCs ever built."

Pricing premium: That power doesn't come cheap. The OLED model with the elite Snapdragon chip starts at $1,500.

Also unveiled: A redesigned $450 Flex keyboard attachment with bolder keys and a larger trackpad aimed at improving accessibility.

The big picture: After years of laggy Windows on Arm experiences, Microsoft is convinced Qualcomm's chips can finally deliver top-tier performance with stellar battery life. The new Pro epitomizes Microsoft's ambitious vision to make Windows an "AI operating system."

Bottom line: With beastly hardware and AI smarts baked in from silicon up, the Surface Pro aims to usher in a new era of AI-turbo-charged mobile computing for Microsoft - if it can justify that hefty premium.

Source: The Verge

AI Startup H Raises Massive $220M Seed Round

A new AI startup called H (formerly Holistic AI) is making waves with a massive $220 million seed round - one of the largest ever for an early-stage company. The Paris-based firm managed to raise the mega-round just months after launching thanks to its all-star founding team of former DeepMind researchers.

The details:

• $220 million seed round led by billionaires like Eric Schmidt and Bernard Arnault

• Top VCs like Accel, Creandum, and Bpifrance's Large Venture fund also invested

• Strategic backers include Amazon, Samsung, and robotic process automation firm UiPath

The big idea? H is aiming to develop "frontier action models" that boost worker productivity through advanced AI agents capable of automating complex tasks. Its lofty goal - achieving artificial general intelligence (AGI) on par with human intelligence across a wide range of capabilities.

Founder firepower: H's co-founders are all DeepMind alumni who worked on major AI breakthroughs like AlphaGo, AlphaFold, and AlphaStar:

• CEO Charles Kantor was a Stanford researcher

• Chief Scientist Daan Wierstra was a DeepMind founding member

• Others like Karl Tuyls, Laurent Sifre, and Julien Perolat held senior roles

Fueling the AI arms race: With 25 engineers and scientists already on board, H is moving fast and investing heavily in compute power and data to build its models. The mega-seed highlights the AI startup frenzy and funding gushing into the space.

AI hub: H's launch adds to the growing AI ecosystem taking root in Paris alongside firms like Mistral AI. The French capital is becoming an AI talent magnet thanks to local tech giants' research labs and startup-friendly policies.

Bottom line: With an unprecedented seed war chest and brain trust of DeepMind talent, H is making a huge splash in the European AI startup scene right out of the gates. Now it just needs to deliver on those lofty AGI promises.

Source: TechCrunch

PERSONAL DEVELOPMENT

Actor Philip Seymour Hoffman on making the most of your opportunities:

"This is something a teacher told me years ago, and he's right:

If you're auditioning for something that you know you're never going to get—or maybe you read the script and didn't even like it, but you still have to go—if you get a chance to act in a room that somebody else has paid rent for, then you're given a free chance to practice your craft. And in that moment, you should act as well as you can.

Because when you leave the room and you have acted as well as you can, there's no way the people who have watched you will forget it."

Source: Interview at the 63rd Golden Globe Awards (January 2006)