- I'm all for startups. The small, motivated, driven entrepreneurs moving an idea to progress and hit the chinks of armour of the large, unwieldy giants of business. In Malaysia, the giants are really government agency behemoths masquerading as private enterprises, with most bureaucratic processes contained in loaded CYA behaviours, rolled over. No additional motivation to function beyond an artificially heightened glass ceiling, but a glass ceiling nonetheless. In any event, the "innovations" contained in the so-called GLCs / GLICs are more often than not the ability to circumvent typical JPA restrictions on recruitment. Ie Have your bureaucratic process but at the same time let's pay ourselves private market labour rates (and I mean the upper ranges, of course - let's not kid ourselves that we consider market rates to be anything other, certainly not mean/median/average - and here I am being mean). Also a loophole to go against artificial quotas that again restrict human endeavour.
- At the end of it, it's a stalemate. Khazanah has gone a full circle now. At the beginning, its fresh mandate seemed like crashing the lethargy, and the narrative of how that has been done has been overwhelming in the intervening years. I had a contrarian view - refer my earlier posts. I was very much underwhelmed by Khazanah's first CEO appointment for TNB, the posturing and spin gave me a headache. No real focus on sweating the real resources to move things ahead, no real agenda apart from getting the best fat bonuses on offer. It was puke-worthy. Come the end of Amok's cycle, the sharks are now out - the narrative has changed. No real improvement, they say. That has to be narrative too, if by doing so the benefit can be made to accrue to a different "thought module". So, the real resources are left scratching their head in silence and thinking - WTH just happened? Was all this a sham? Were we taken for a ride?
- Those questions are red herrings though. Substitute questions for not asking the right set of questions at the right times that may have changed the tide. "may" being the operational word.
- The real questions are to ask what the real agenda was to bring people up, equipping them with skills, developing mental capacity, pushing the boundary. Just as the proxy questions could all be answered in the affirmative, it could be argued that the new "normal" is not sustainable, and has not been able to move things further than it should.
- The solution to me is clear. Startups are way to go. Educating the right leaders to embrace risk and manage them clearly, building things up on a growth proxy would be the right approach. Business building is not easy. Business building and putting pressure to be on a continuous growth trajectory is a different scale of difficulty. FIDE rating 1500+ if I may. But it must. There is no other way.
- The other way is contentment. And suddenly waking up one day that the tone has changed. The world is different. I have no place in it. And then it's too late.
- May Allah grant me the strength to build a startup and give a bloody nose or two to these slowpokes.
Thursday, January 18, 2018
A nation on startups (or in less loaded terms, rational human endeavours...)
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