When The National was founded 15 years ago, social media was in its infancy. Today, it’s an established aspect of life.
For the opinion writer, it’s both a friend and enemy, a useful tool but also a dangerous opponent. If you want to know where someone stands on a particular issue, see what they’re posting on Twitter or Facebook. Likewise, if you want to know what people think of something you’ve written, see what’s being said about you on Twitter or Facebook.
But keep it in perspective. The most active folk on social media, the ones who post the most and have the biggest followings, are not representative. They’re often the noisiest, shouting to attract attention.
This is the problem, that nobody is especially interested if you’re reasonable. Social media feeds extremes, both in the lengths of the comments (it’s hard to be reasoned and thought-through in a few words) and the fact that readers will give you only seconds of their time. Then there are the active users themselves – people who by and large like a good argument, who seemingly enjoy being rude to others.
Most, the silent majority, view and post nothing. Social media wants them for the advertising, but to keep the beast alive, it requires the minority to tweet and post away.
Many is the time I’ve gone on to Twitter to see the reaction to a piece I’ve written, only to find something abusive. Fine, if it’s considered and justified, but usually, they’ve not read the article at all, they’ve not gone beyond the headline or they’ve chosen to quote something entirely out of context.
Think of social media like the shouty man standing at a bar. He’s there, mouthing off, airing his beliefs and you’re sitting quietly at a table, listening and shaking your head at the rubbish that he’s spouting.
Just because he’s got an audience gathered around him does not make him right. Similarly, those with the largest followings are not necessarily people you respect and trust.
Once, people did not have a platform. Now they’ve got one – and so conspiracy theories that previously would not gain currency spread like wildfire. Worse, they’re believed.
It’s a brave person who dares to contradict them. People don’t like being told they’re wrong or speaking nonsense. Instead of listening they shoot you down, sometimes in the vilest terms.
But as opinion writers we must do that. It’s our duty to shoot down the preposterous theories about the pandemic and the efficacy of the vaccine. We’re beholden to explain that 9/11 was not caused by the CIA bombing its own. We need to describe how man really did land on the Moon and the whole spectacle was not shot in a warehouse in Florida. Otherwise, all we’re left with is the conspiracy theorists who love to populate the vacuum.
That’s not to say it’s not also a hugely useful resource. When he was president, I grew quite fond of turning on my phone in the morning as I still lay in bed and reading what Donald Trump had tweeted overnight.
He was stating it, without editing or embellishment. In doing so, by choosing Twitter, he was stealing a march on the world’s press by declaring his agenda and therefore setting their agenda, to an extent my agenda, for the day ahead, before they’d had their morning editorial meetings and we’d discussed priorities.
With his tendency to indulge in screaming block capitals and only write pithy comments, ones he did not have to justify, Trump was in his element. He was the ultimate loud bloke, letting rip.
It was clever and smart, and he was influencing public opinion in a way no president, no politician anywhere, had ever done before.
Other figures do the same, airing anything and everything via the social networks, cutting out the mainstream media to get their thoughts across. Our job is to agree and disagree, to aggregate and filter for you, our readers, to help you make sense of the world.
Thanks to social media, the landscape has changed much in the last 15 years; doubtless it will evolve again in the next 15. You can rest assured, The National will be there, acting as a friend and expert guide.
Chris Blackhurst is a former editor of The Independent and a columnist for The National
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TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
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Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
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Day 3, Abu Dhabi Test: At a glance
Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.
Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.
The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.
MATCH INFO
Karnatake Tuskers 114-1 (10 ovs)
Charles 57, Amla 47
Bangla Tigers 117-5 (8.5 ovs)
Fletcher 40, Moores 28 no, Lamichhane 2-9
Bangla Tiger win by five wickets
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THE APPRENTICE
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Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
The specs: 2018 Nissan 370Z Nismo
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Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
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Partnerships planned during Expo 2020 Dubai to add more languages
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England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
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Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5