KSU Shield Magazine Interesting Piece of Business Literature Constructive Criticism

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Kent State University

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I'm working on a business discussion question and need an explanation to help me understand better.

Give constructive criticism on the high school's business magazine,

the tone should be encouraging

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I s s u e 1 | M a y 2 0 2 1 shieel l The magazine Entrepreneurial-Economics Magazine Musk's Mind 6 companies, 65,000+ employees, $17,050 crores, incalculable flair. Read more on pg 23. Shark Tank Currency Why are investors so crazy for an alternative currency created by a phantom? Read on pg 12. Haven't watched it? Do so now, but only after reading our article. Read more on pg 18. City Montessori School, Gomti Nagar 1 Index 3 2 Agents of Shieeld 4 5 Industrial From the Board's Psychology Quill 10 Inspiration for Generations 11 9 Development Our Guiding Lighthouse Acknowledgement 8 Leisure 12 From the Activity Coordinator's Pen 6 Entrepreneurship 7 Economics 13 Thank You Note 1 Prolusion PROLUSION S.H.I.E.E.L.D. IS AN ACRONYM FOR: S TRATEGIC H UB FOR I NDUSTRIAL PSYCHOLOGY, E NTREPRENEURSHIP, E CONOMICS, L EISURE AND D EVELOPMENT. The Magazine presents informative articles relating to economics, entrepreneurship and business psychology. This magazine has been months in the making and we are exuberant to finally unveil it. S.H.I.E.E.L.D's significance lies in its ability to provide a platform for effective research and growth. More importantly, it aims to engage students in the world of business and finance which are the driving forces behind today’s society and social relations. The magazine endeavours to make people realize that their optimum potential can only be achieved once they grasp the fundamentals of economics and its impact on the 21st century. REGARDS, THE BOARD TEAM S.H.I.E.E.L.D PAGE - 1 | SHIEELD We would like to express our special gratitude to the Founder Manager of our school, Dr. Jagdish Gandhi; the Founder Director of our school, Dr. Bharti Gandhi; the President of our school, Mrs. Geeta Kingdon and the Chief Executive Officer of our school, Mr. Roshan Gandhi for establishing this prestigious institution and guiding us towards our bright futures. We would also like to extend our utmost gratitude towards our Principal, Mrs. Abha Anant; our Vice Principal, Mrs. Yasmeen Khan and our coordinators for providing us with platforms to express our views and talents. We are deeply indebted to our Activity Coordinator, Dr. Manju Anand for her patient guidance, enthusiastic encouragement and continued endeavours towards the promotion of interests and talents of us students. We owe tremendous gratitude to La Plume, the Editorial Board, CMS GN-1 for having provided their expertise and assistance. They provided immense guidance at the time of providing final touches to the magazine. PAGE - 2 | SHIEELD Agents of SHIEELD SAKSHAM GUPTA DIVYANSHI AGARWAL FOUNDER, PRESIDENT preSIDENT ARUSH N. SRIVASTAV IT Head VAGMITA Chief Content Head ARCHITA SHUKLA Content Head PRIYANSHI SINGH Content Head ARYAN A. VERMA IT Head PAGE - 3 | SHIEELD LLIUQ S'DRAOB EHT MORF Dear Envisioning Entrepreneurs, Economics is the cornerstone of civilization. It's not the study of superficial dimensions or subatomic realms of science. It is not the study of hypothetical worlds of literature. It is the study of neither fantasy nor fiction. What it is is the study of the entire material world and the human species as a society, and I feel that to not have the basic knowledge of economics is like looking at the world through blindfolds. Today this world is a competitive entrepreneurial space in its entirety. Why should it even be anything less than that? Competition that brings about this entrepreneurial spirit brings about constant innovation and increase in value proposition and it essentially has got us to where we are today. So, I proudly present before you the hard work of our team and our efforts in trying to demystify all the aforementioned subjects to your liking in the form of this magazine, S.H.I.E.E.L.D. Saksham Gupta, Founder, President & Content Creator Dear Budding Businesspersons, We are elated to present the very first issue to all the readers. As soon as the idea struck us, we brainstormed and shaped it into the magazine it is today with the help of a sterling team. This is an appreciation for all the people who took this journey with us. We couldn't have done it without your help. Happiest reading! Thank you Divyanshi Agarwal, President PAGE - 4 | SHIEELD INDUSTRIAL PSYCHOLOGY PAGE - 5 | SHIEELD MARKETING BECAUSE WHEN YOU STEP INTO THE WORLD OF MARKETING, YOU ALSO STEP INTO THE WORLD OF MISCONCEPTIONS. Contrary to popular belief, marketing is not just expensive advertisements. It includes all efforts and expenditure spent by a business to market any product. To maximize sales in a highly competitive environment, businesses take the help of Industrial Psychology: the practice of applying psychological theories and principles to workplace environments. Industrial psychology is also referred to as the ‘psychology of marketing’ as it anticipates consumer behavior by understanding their cognitive biases and aims at improving product sales. Most of the advertisements reflect the use of such psychological strategies. For example, many ads include the phrase “approved by experts” to boost the trustworthiness of their product. However, for marketing to work in the free market economy, deep industry analysis is needed. Businesses must know the Unique Selling Proposition (USP) of their product, i.e. they must know what factor makes their product better than the competition. They must also know the key demography they are targeting in order to understand the channels through which they should market and how. All marketing expenditures are coined into one index known as Customer Acquisition Cost. Businesses after marketing for some time figure out their Customer Acquisition Cost, which essentially is the cost of acquiring one customer. It is generally calculated by dividing the total expenditure done in all channels of marketing by the number of customers that bought one unit of the order, or by the assumed average order that one customer makes according to the business. In terms of unit economics, the percentage of marked price held by marketing is about 40-50% since the ratio to the revenue and marketing expenditure is low for them. In short, new businesses need to market a lot more while established companies may spend only around 12-15% of their revenue on marketing. PAGE -6 | SHIEELD THERE IS A CLEAR BIFURCATION BETWEEN THE EXPENSIVE AND INEXPENSIVE MARKETING STRATEGIES. ONE CAN DECIDE EITHER ON THE BASIS OF ONE’S WORKING CAPITAL, BUSINESS MODEL AND EXTENT OF EXPOSURE. INEXPENSIVE STRATEGIES 1. SEO (Search Engine Optimization): For every EXPENSIVE STRATEGIES 1. Referral Marketing: It encourages people to share search, Google has thousands and millions of the marketed product with other people by results, which it ranks on the basis of the forwarding some link to the owner's website or to inclusion of keywords that the person searched the product in exchange for some incentive like a for. The inclusion of these keywords in a website’s columns and articles improves its exposure. SEO is necessary only when businesses have their own website to sell products or a blog to promote them. 2. Content Marketing: Content marketing catches people’s attention by creating content in the form of small videos, posters, etc. and promoting the product on social media sites and search engines, thus increasing the popularity of the product. 3. Creating Communities: Companies aim at influencing their customers to post about their products on social media, creating a chain reaction that would encourage other consumers to buy the products and further share their experience with the product on social media as well. This way a community of people is formed. A company that perfected this technique is a US-based female underwear company, BootayBag. promotional discount code on the next purchase, etc. 2. Influencer marketing: It involves paying celebrities/people with huge social media following/bloggers with large active customer bases to promote the product. For example, Nike and Cristiano Ronaldo have a perpetuity advertising contract of one billion US dollars. We would also like to shed some light on a very popular marketing technique that has been used by companies like OnePlus, Hypercar Manufacturers and various smartphone companies. What they used was: 3. Scarcity Marketing: When OnePlus initially came to India, it didn’t just start selling to everyone and everywhere. There were selected stores in just Delhi NCR regions where one could buy OnePlus merchandise. OnePlus knew their products were good and that they were better than the competition. They created immense demand for their product and people grew impatient to buy their product. THUS, SUCCESSFUL MARKETING STRATEGIES CAN GREATLY IMPROVE THE SALES OF A PRODUCT AND IN TURN THE REVENUE GENERATED FROM IT. NEEDLESS TO SAY, BUSINESSES NEED TO MARKET THEIR PRODUCTS EFFECTIVELY IN ORDER TO BUILD A CUSTOMER BASE AND ESTABLISH THEIR BRAND IN THE WORLD’S MARKETS. PAGE - 7 | SHIEELD PIHSRUENERPERTNE PAGE - 8| SHIEELD From B an to USINESS IDEA a THE CONTEMPORARY WORLD IS AN ENTREPRENEURIAL SPACE, VERY CONDUCIVE FOR THE SUCCESS OF SMALL SCALE BUSINESSES OWING TO GENERAL AWARENESS, ENTERPRISING SPIRITS OF INDIVIDUALS AND THE MOTIVATION BEHIND CREATING COMPETITION FOR THE PERFECTION OF CONSUMER GOODS. ENTREPRENEURSHIP IS NOT KNOWLEDGE, IT'S A SKILL. HAVEN’T MOST OF US THOUGHT OF BECOMING AN ENTREPRENEUR AT LEAST ONCE BUT WE JUST DON’T KNOW HOW TO START? SO, HERE’S HOW TO LAUNCH FAST-MOVING CONSUMER GOODS (FMCG) OR RETAIL AND CONSUMER PRODUCTS. USP and Prototype Be sure of your product’s utility and USP (Unique Selling Proposition), for your product must stand out while presenting a clear selling point. Extensive market research and industry analysis help to figure out necessary portals for selling, the volume of inventory to be produced and the best marketing ways. For this, you need a prototype (a working model) of your product. Patent (Optional) From an idea to a product, it's a long journey. This is contingent on the product but most of the time it is advisable to get a patent on your product. Getting a patent protects you against plagiarism and gives you sole control while adding substantially to your company’s assets. There are various types of patents like utility, design and provisional. Funding Start with a small capital coming from your savings or borrowed funds, or get a business loan. Other ways are inviting outside investment, doing equity offering rounds, or participating in funding competitions but if your business lacks proof of concept, analytical data and assets, its valuation will be low, making you lose a big chunk of equity before even launching. Getting a proper strategic partner might boost your business, save you your time and money, and help you market and increase your sales. PAGE - 9 | SHIEELD Production You can go with manual production in your workshop. It is suited when just a small volume of supply is needed or it’s a beta test or just fulfilment of your crowdfunding order. Getting a contract packer reduces the per-unit cost of production. He manufactures your product in his factory since a new startup doesn't have enough capital investment to carry out effective production. For edible consumer products, perfect the proprietary formula of your product and figure out if it’ll be sold as perishable or frozen. Then, approach commercial kitchens working on mass production scales to manufacture your product. Business Model Now you need to have a business model. You need to be sure about how and where you want to sell your products. The two very fundamental business models are going into retail or going direct to consumers. Going into retail means that you wholesale your product to retailers, for instance, big box stores like Walmart. Direct to consumer business model is where you ship the product directly to the customer's home. Here too, you could be selling on multi-vendor marketplaces like Amazon and Shopify or you could sell via your own website. You should knock on all doors to earn the most revenue. Licensing Another way to go is to license your products. You’ll still own the proprietary technology but the other party manufactures markets and sells the product. In exchange, you get paid as per the terms of payment mentioned in the licensing contract. The entire cost of production including packing and shipping is about 30-70% of the sale price and the rest is gross profit. It lowers with an increase in the scale of business. To sum up, new businesses have to spend quite some money on marketing. But owing to their small scale of operations, the net profit does no justice to the amount spent on marketing. Small businesses might not be profitable in the initial years but it's all about the business idea, model and flexibility in making improvements and adapting to market trends. PAGE - 10 | SHIEELD ECONOMICS PAGE -11 | SHIEELD YY CL NT EN RE RR UR CU C Currency, the one concept we all share similar knowledge about, has come a long way: from barter to coins to paper money to banknotes to digital currency and to the relatively new and intriguing cryptocurrency. When human civilizations started, people prod- uced several commodities and then exchanged the surplus for items they needed, from people producing those items. Although simple, this barter system wasn’t static or reliable as the value of the commodities remained inconsistent. But the barter system is not discontinued. According to the US Department of Commerce and the GATT (General Agree- ment on Tariffs and Trade), barter still accounts for about 25-30% of all transactions worldwide. Later, value came to be held in precious metals in the form of coins which ensured uniformity in size, weight and purity. Coinage is the most ancient form of currency that relates to modern currency. Then, paper money, having several advantages as well as disadvantages, was first devised by the Chinese. Loans could now be taken on gold and silver with interest. It also enabled the sales of stocks in joint-stock companies. But, when the notes first came into existence, their volume in circulation was linked to valuable commodities. Authorities issued more notes than they had species to back them up with. Often, demand for paper money fell to zero. PAGE - 12| SHIEELD Today, almost every currency is fiat currency, issued by the government and not backed by any tangible asset. You might question why not print uncountable notes and make everyone rich? Because that would cause inflation, making everyone poor. Too much supply of money would cause the value of products to keep fluctuating declining. This is and the called purchasing inflation, power when of each people note would hyper-increase keep their consumption and start hoarding, causing a shortage of products and further inflation which can cause an economy to crash and currency to become worthless, as has happened in Venezuela and many Latin American economies. Thus, the supply of money and amount of goods and services produced must be directly related. This is regulated by the government or a central autonomous body like the RBI in India or The Fed in the USA. Too many restrictions on supply of notes can cause the currency’s value to increase which Y LY TC NN EE RR RR UU CC causes people to hoard money as it becomes an appreciating asset. Economic activities reduce, capital investments disappear and consumer expenditure decreases, finally causing a recession in the economy. So, governments must maintain a complex and delicate balance, considering past indices of inflation, international trends and unemployment rates. Well, a little inflation does promote economic growth as people invest money and maintain consumption creating a higher capital formation rate. PAGE - 13 | SHIEELD Case Study Cuba Cuba is inarguably one of the most bizarre economies on the planet today. Through this article, we will demystify before you the country where a cab driver makes more money in an hour than a neurosurgeon makes in a month. Cuba, a small picturesque nation with a population of a measly 11.3 million, is situated between the Gulf of Mexico and the Caribbean. Its economy swings from a hardcore capitalist society to a worker’s paradise and is now trying to make the good old, not to mentioned, flawed and outdated, communist economy work. So let's start from the very beginning. At the onset of the 20st century, Cuba was really a different nation than it is today. A land of freewheeling capitalism and possibly a more liberal market than the United States. With the help of the US, Cuba established various infrastructural facilities and focused heavily on the sugar production economy. This is good. Infrastructural development and creation of new industries leading to employment, right? Well, not exactly. Sure the country was getting wealthier and wealthier on paper but little to none of it was going to the hardworking Cubans. And the problem was that America owned everything i.e. most of the arable land and sugar refining factories and 90% of all sugar produced where profits were retained. When oil explorations started there, foreign companies like Texaco swooped in claiming majority of oil fields. So essentially, Cuba had gone from Spanish colonialism into the hands of Corporate colonialism. America essentially owned Cuba without having to stick a flag in it or defend it. In 1959, after a long and bloody revolutionary war, the Cuban Communist Party rose to power. PAGE - 14 | SHIEELD It started by nationalizing its telecommunication industry, its farmlands and its oil refineries. Cuba’s President also declared a ban on the export of sugar, cutting the lifeline of the economy. The US was infuriated with Cuba nationalizing all the American owned infrastructure and thus decided this was a good way to suffocate their economy as they were almost solely reliant on the US for trade. Russia saw a great ally in Cuba, being famous in the communist business themselves and it was geopolitically beneficial for them to have an attack outpost so close to the US during the Cold war. So they bought Cuba’s sugar and provided them with refined petroleum, infrastructure and everything else. Cuba was on the fast track to development, up until the Soviet Union, Cuba’s only friend in the whole world, ceased to exist. During 1989-1992, the Cuban GDP shrunk by 40%. Cuba became something very close to North Korea. Widespread unemployment, starvation, a strong military presence and reliance on debt to even sustain. To tackle this, Cuba did what India did around the same time. They liberalized and globalized their economy. They opened their country up to tourism and foreign trade and foreign investment promoted selfemployment and, most ironical of all, made the US dollar a legal tender in their country. It's a satire really to think that FDI from the US which, was the reason why Cuba was poor in the first place, became the road to salvage what remained of it. To address the neurosurgeon and cab driver statement, we have to look back at the history of vehicles in Cuba. In the 1940s, the Cuban middle class was rich enough that most of them imported American cars to their homes. Consequently, Cuba imported 125 thousand of these beauties and at one point, Havana has been deemed the Cadillac Capital of the world. But in 1959, a ban was placed on the import of cars and car parts entirely. So, Cubans kept these cars running by swapping in parts from lawnmowers, boats and basically anything that had a motor, even to this day. PAGE - 15 | SHIEELD Today, Cuba is home to the most classic, old fat American muscle beauties and tourists are willing to pay anywhere from 30-35$ for a one hour tour around town for the boutique experience, which is again, what a neurosurgeon earns in a month. This is because Cuba’s entire healthcare system is owned by the government and thus the doctors get a state-sanctioned salary of 30$, plus the standard social welfare. So what is Cuba today? Well, Cuba is a country that was affected by every major geopolitical event in the world from colonialism to corporatism to the cold war to the Cuban Missile Crisis, the closest 13 days the world ever came to an apocalypse, and now economic development. But what it really is one of the most beautiful countries on the planet and one of the most affordable destinations for tourism with its vast and glorious beaches, its colourful buildings and the 60,000 iconic and majestic vintage American beauties that still roam the streets. It's also a nation with huge oil reserves and vast farmlands with a very conducive environment for agriculture. It is a country with a per capita income of 8,822$ a year but an HDI of 0.778! To put that into context, China, a vast industrialized nation with a per capita GDP of 16,790$, has an HDI less than Cuba's, 0.761. Something to think about! Colossal Cuba PAGE - 16 | SHIEELD LEISURE PAGE - 17| SHIEELD So, are you ready to dive into the ruthless world of business and entrepreneurship with just the product that the world needs? Are you ready to jump into the Shark Tank? The Shark Tank is a critically acclaimed and multi Emmy Award-winning, entrepreneurial-themed American reality show. It is based on the Japanese 'Dragons' Den' format, created by Nippon Television Network Corporation. The ‘Sharks’ (Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Lori Greiner, and Mark Cuban) are tough, self-made, billionaire tycoons, looking to invest in businesses that are likely to show exponential growth and provide them with good returns on their investments. The entrepreneurs seeking investment introduce themselves and begin their pitch by underlining the need for their product and explaining their value proposition. Sharks try to analyze the valuation that the owners place on the company. After the entrepreneurs wind up their pitch, the investors ask them questions that give them clarity about the nature and health of the business and the Product-Market Fit. After this, the investors offer their individual offers to the entrepreneurs, who may accept the same or give counter-offers. If both parties accept the terms of the final offer, a deal is signed otherwise it falls through. The Sharks have unparalleled chemistry, which makes it even more interesting to watch them quarrelling for an idea worth sinking their teeth into. Guest sharks like Ashton Kutcher and Chris Sacca have also stopped by the show to lend some of their business acumens. Furthermore, while binging the many seasons of Shark Tank, you may come across something worth purchasing for yourself. But the best of all is that Shark Tank acts as a crash course in entrepreneurship. You would be acquainted with the vast terminology relating to business and pitching after watching only a few episodes. The 12th season of Shark Tank is airing right now on various channels like Voot. It is our strong recommendation that you give it a try. PAGE - 18| SHIEELD DEVELOPMENT PAGE - 19 | SHIEELD DEVELOPMENT OF AI AI can basically be defined as machines performing cognitive functions like learning, interacting, understanding and reasoning. Up until now, the one thing that differentiated humans and machines was the ability to interact with outside stimulus. is a tiny fraction of the total autonomous intelligence out there today. Al is the new electricity now. Once fully autonomous and self-sustaining, AI opens up possibilities that are not very pleasant to think about. Tesla’s self-driving system is already tens of thousands of times better than a human at navigating us through roads and that is only through cameras and without lidar (light detection and ranging). The DeepMind System, which is a selftaught computer, meaning no human input or guidance was provided, has beaten the world's best players together at the strategy game GO and games like chess. LawGeex put a three-year-old algorithm trained to evaluate contract up against twenty experienced attorneys with the robot being the clear winner. Now we have the very first working prototypes of Artificial Intelligence coexisting with us. At the very least, many businesses are developing AI technologies and algorithms to study consumer purchase patterns and behaviour and provide them with a better experience. Tesla uses AI wherein each information learnt by one car is transmitted to the entire fleet. Smart voice assistants like Siri and Alexa are advanced examples of these algorithms. With artificial intelligence, we are summoning the demon. We are blindly working towards something that might just cause an existential crisis for us. The percentage of human intelligence in the world is rapidly decreasing and while it is something not quantifiable yet, The development of full AI could spell the end of the human race. ▪ ▪ ▪ If AI reaches its imaginable potential, we will be to AI what unicellular organisms are to us. PAGE - 20 | SHIEELD AI is likely to be either the best or the worst thing to happen to humanity. Up until AI turns against us, it will have unparalleled benefits. It will accelerate production by a big factor, bringing down the cost of production and cost of the finished product and would create total disruption of the labour market. Humans will become as obsolete and replaceable as any other methods of production in the past, leading to global unemployment and an existential crisis. But when AI can finally realize that humans are of no utility to it or the Earth and are just squandering its resources, it might just eradicate us. It's not unnatural. It's just the laws of evolution. It's what happened to Neanderthals when Homo Sapiens came around. AI would not hate us but would be motivated by reason just as: while building a road, we don’t mind destroying an anthill that comes in the way. DeepMind, a subsidiary of Alphabet Inc. working towards the development of AI, has admin-level access to all of Google’s servers. So, we know where the first shocks might come from. What’s to even say when AI is any different from us! Both our processors run on electrical impulses, them being digital and us being analogue. So are we just a moth to a flame now? Is our doom impending? The entire effort of AI is essentially a fight against computer's rigidity. The only viable escape from this is to merge AI with human intelligence, to develop some sort of human-machine interface. If you think about it, we already have a digital extension of ourselves. We have a digital presence, the thing being that the speed of input is at best at hundreds of bits (typing) and decreasing by the day (we used to provide input through 10 fingers and now just the two thumbs and even further, S-Pens used on digital screens) while the output is at billions of bits per second of speed (computer processing). So wouldn’t it be so cool if we can be part machine? Now that’s finally a world I want to live in and a future I look forward to! PAGE - 21| SHIEELD Featured: INSPIRATION FOR GENERATIONS PAGE - 22| SHIEELD ELON MUSK Elon Musk, an inspiration and idol for millions, is a self-made entrepreneur of the perfect proportions. Being the world’s second-richest man as of 18th March 2021 11:50 a.m. IST, with a net worth of 172 billion USD, he had been in cutthroat competition with the Amazon CEO, Jeff Bezos. At his best, he took the position of the richest man in the world on January 7, 2021, surpassing Jeff Bezos. Born in South Africa in 1971, he developed an interest in coding. Learning programming through a textbook manual, he developed his first BASIC based video game, BLASTER which he sold to PC and Office Technology magazine for 500$. He went to the Queen’s University, Ontario in Canada for his undergrad, transferred to the University of Pennsylvania where he graduated with a BA in Physics and BS in Economics. In 1995, he was admitted for a PhD program in Energy Physics at Stanford. But he dropped out in 2 days to join the Internet Boom and launched his first company. Zip2, a web software company, developed an intercity guide with map directions and yellow pages. Renting a small office, and having just one computer to work from, the website ran live during the day and Musk coded through the night. Their hard work finally paid off when the Compaq Computer Corporation bought Zip2 for 307 million US dollars in cash and 34 million in stock options in 1999 where Musk had a 7% equity. He put everything he got pulling his equity into fueling his next hot startup, X.com. X.com, an online financial service company, was one of the first banks to be federally issued. X.com merged with Confinity, another online bank. Soon enough, Musk was ousted as the CEO and Peter Thiel, the founder of Confinity, was made CEO. In 2002, he founded SpaceX, today a leading partner and supplier for NASA, with the revolutionary but the then seemingly insane idea of reusable rockets. Today SpaceX is developing its 11th prototype for this Mars transporter after Starship SN10 was successful in its vertical soft-land attempt. SpaceX stands at a 76 billion USD valuation as per the last equity offering it concluded on 19 February 2021, accepting 879 million. Some of its many achievements include the first privately funded liquid-propellant spacecraft to reach orbit spaceflight to the international space station (Falcon 1 in 2008) and the first reuse of an orbital rocket (Falcon rocket in 2017). Two of its hottest undertakings right now are the STARSHIP and STARLINK program. Starlink aims to provide high-speed internet across the globe at cheap prices through orbiting satellites, and Starship is designing and testing rockets meant for crewed interplanetary spaceflight. PAGE - 23| SHIEELD As successful as SpaceX is, it falls somewhat short when compared to Elon’s biggest success. You guessed it, it's Tesla. In a decade, Tesla went from being able to produce 500 cars a year to roll out over 2,000 cars each year. It not only drove the world towards clean and renewable energy but is building the infrastructure so that the world goes 100% sustainable. It sold the world on renewable energy through cars, coming up with a sports car running entirely on electric motors first, the Tesla Roadster making Tesla an 837 billion $ company. The Boring Company, a new addition to his portfolio, started in December 2016. It is close to a billion-dollar valuation according to the really old funding round. Speculation is that it could be worth about 16 billion after completion of the 18-mile high-speed tunnel that would cost ~$1 billion to build. Musk also expects the Boring Co.’s pods, which are designed to carry 16 passengers at a time, to cover the 18-mile distance between downtown Chicago to O’Hare in just 12 minutes. Neuralink is another venture of Elon’s that is developing implantable high bandwidth brain-machine interfaces. Elon believes and well it's quite true that we all have a virtual existence, that we all have an extension of ourselves in the virtual world. We all talk, shop and stream over the internet. The bandwidth of the input is about 10-100 bits per second, with our thumbs typing, while the output is trillions of bits per second. So you can see where we need to focus. Neuralink works to counteract and prepare us for the evolution of AI. AI, while it could be the greatest invention and most probably the last invention we’ll ever have to make, is a slippery slope. On a related subject, Elon also owns the non-profit(1 billion USD pledged) Open AI Inc. Open AI's mission is to ensure that Artificial General Intelligence (AGI)—by which we mean highly autonomous systems that outperform humans at most economically valuable work—benefits all of humanity. In conclusion, what are the things you can make out common to all of Elon’s undertakings? It's uniqueness, far-sightedness, practicality to the future and tackling the world’s most grave problems. Elon proves that success has no shortcuts while also proving that the secret to success is hidden to no one. It's innovation! PAGE - 24| SHIEELD OUR GUIDING LIGHTHOUSE Respected Founder Manager of our school, Dr. Jagdish Gandhi and Dr. Bharti Gandhi, respected Founder Director of our school. Our founders, Dr. Jagdish Gandhi and Dr. Bharti Gandhi were greatly influenced by the teachings of Mahatma Gandhi and Sant Vinoba Bhave. They started CMS with the vision of inspiring generations of children to become socially motivated and conscious citizens of both, India and the world. Their motto ‘Jai Jagat’ has been the school's greeting from the beginning, posing a deliberate contrast to the popular ‘Jai Hind’ greeting at the time. CMS students are taught the value of 'Vasudhaiva Kutumbakam' or the 'Earth is but One Country and Mankind its Citizens' as soon as they begin learning at this prestigious institution. PAGE - 25| SHIEELD FROM THE ACTIVITIES COORDINATOR Dear Parents, Guardians and Students, Greetings from City Montessori School - Gomti Nagar, Lucknow! However difficult life may seem, there is always something you can do to succeed. That is exactly what educationists like us and educational institutions like ours have gone ahead and done in the past months. Given the global threats of mass quarantine, due to COVID-19, connectedness is just as important as oxygen, food and water. While this new virus is no laughing matter, the more we can find ways to stay connected, whether through humour, virtual happy hours or sharing our personal life at home with our peers, the healthier we will all be. This befuddling time of pandemic has taught us to navigate the inner strength and hidden potential of our students. In our quest to help our students discover their hidden potential and inherent talents, we at CMS GN 1 have created an online curriculum for all the students. With compassion and perseverance, they designed this entrepreneurial and economics magazine, ‘S.H.I.E.E.L.D.’ to help students develop research skills, critical thinking, collaboration, risk-taking, experimentation, resilience and entrepreneurial competencies which will prepare them for life. Felicitations to team S.H.I.E.E.L.D. GN-1 for releasing the first issue of the monthly Entrepreneurial and Economics Magazine! - Dr. Manju Anand, Activities Coordinator PAGE - 26| SHIEELD Thank you! Dear readers, Thank you for taking this magazine. out We your precious dearly time to read appreciate your enthusiasm, support and encouragement. We hope that you every month find your we can and place in share guide the more you in information the world of journey with as business you and economics. We your highly value inputs, with us at your queries feedback and any so please prospective do share articles s.h.i.e.e.l.d.magazine1@gmail.com. PAGE - 27| SHIEELD magazine tnempoleveD dna erusieL ymonocE pihsruenerpertnE ygolohcysP lairtsudnI rof buH cigetartS shieel l The
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Running head: CONSTRUCTIVE CRITICISM

Constructive Criticism
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CONSTRUCTIVE CRITICISM

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The Shield Magazine is an interesting piece of business literature. The magazine covers
numerous fascinating topics from the business world and helps the reader gain a deeper insight
into issues. The team takes up some interesting topics from the wo...

Qeiny (45773)
University of Virginia

Anonymous
Very useful material for studying!

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