Facebook - so many wankers but so easy to block them

Social media opens up the world, we have so many new people to communicate with but we all know the downside, the internet is the domain of trolls and wankers.

What I really like about social media platforms such as Facebook is the ease that you are able to block these faceless trolls, bullies and imbeciles. When these people reply to your comments with these stupid flashing messages, angry faces or just dribble and/or a tirade you are able to put them out of your mind immediately never to bother you again.

What really makes me laugh is they never seen to post their own pic on their page, it is always a pic of a famous person, an absurd portrait of a deceased person, cartoon character or a sporting team logo. These gutless and faceless trolls might get under the skin of some people, once I am able to block their stupid comments, I am glad I never have to give then another thought.

Whom do we serve?

I constantly ask myself employed as an advanced skills lecturer at a major training organisation, whom do we actually serve?

I sincerly believe our focus must benefit our students and the organisations employing them as apprenticeships and traineeships are funded by business enterprises. A simple analysis, yet this is rarely the case with decisions mostly favouring individuals in the training organisations.

Then, secondly our actions predominately benefit the organisation with students, employers and the industry employing enterprises and individuals sadly lagging. Public organisations also employ apprentices and trainees, we must never forget where we receive our funding from and to whom our loyalties ultimately align.

During my business studies we explored strategic management and value adding activities. I really focused on core competence and the resource based view of the firm. As a state government employee, we receive funding at both a state and federal level and we as both an organisation and individuals must take our responsibilities seriously and make decisions based on the best interests of those we serve.

After all, we receive tax payer funds so our mission must be to realistically employ public funds in an efficient and responsible manner and to not purely serve ourselves. We have a duty to not only current taxpayers, but past and future taxpayers to increase productivity leading to advantageous outcomes for the state.

The cost of unproductive meetings

In many respects I still haven't made the jump from the private sector to the public sector despite my twelve years of employment in the government. The culture is just so different because there is no culture to perform at a productive level.

I am now surrounded by a bunch of people, many who have never worked in private enterprise believing they are businessmen and businesswomen, but maintain a public sector mentality of poor productivity and a failure to take responsibility.

We have a whole contingent of professional meeting attendees who fail to achieve any measurable outcomes from these meetings whatsoever. I call these government meetings; these are meetings with no agenda, no minutes, no implementation plan and no outcomes. We don't even know who attended these meetings, what was discussed and most of the time they can't even recall the date.

We have had discussions where I have been told we agreed on this, my question usually is, "was I there?" Needless to say, the minutes of the meeting are never distributed to any team members because there isn't any.

Ironically, registered training organisations offer a unit of competency in BSBADM502B Manage Meetings, this is a unit in the business administration curriculum designed to equip graduates with the skills to effectively manage meetings.

It goes without saying if I have to call a meeting, an agenda is published and minutes recorded but I do this on a personal level as per my private sector training. The implementation plan is recorded and during subsequent follow-up meetings, the implementation plan is reviewed and updated as required.

As part of our professional development requirements, all team members should undertake this unit of competency, there should be no recognition of prior learning with all candidates required to undertake the full learning and assessment package. Then the cost of unproductive meetings and the cost to the organisation might eventually be negated.

You would actually think that with all these meetings attended that they would become pretty good at this; but unfortunately this is the government - think again. Across the organisation, I would hate to actually calculate the cost of these unproductive meetings, as I believe that more than 80% of meeting time is wasted based on my observations.

Mounting a dive knife

Gone are the days where a scuba diver would strap the largest stainless steel knife to their lower leg before heading off into the water. It was a terrible location, if you got entangled then it was actually difficult to access and would frequently snag. I'm glad I relocated my dive knife early in my diving career.

These days dive knives have become smaller, sharper and manufactured from more exotic materials like titanium. So many options are now available to mount a knife to either your jacket, harness or low pressure inflator hose.

The adaptor for the low pressure inflator is my choice of mounting point but it is not without its problems yet I consider it the best option. I do change regulators often and prefer my knife mounted on my jacket.

Previously I had just used cable ties to secure the knife using the leg strap slots directly to the inflator hose attached to the BCD although these days I find it easier to just use the mount that accompanies the knife.

Fake certification cards

Diving in shops in South East Asia, it is now being reported to me that potential divers are walking in through the door with fake certification cards - I could hardly believe this story.

My first question is why? Why would you risk your life just to get out of taking an entry-level diver course? These days you pay your fee and then do the academic section online before heading into confined water to learn the skills required to become a safe diver and then reproducing those skills in an open water environment.

These days with online checks, all you do is give your name and date of birth and diver certification can be cross referenced. From what I am told, the fake certification cards are poor quality, the logo and are a give away and no diver number exists. That will no doubt change in the future as counterfeiting quality improves but unless they are able to hack dive certification agency records then an online cross reference will find them out.

So what is considered seriously wealthy?

I have been asked what is considered seriously wealthy by a number of people and the magical number bandied around is seven and a half million dollars. But where did this number actually come from?

A millionaire was once considered wealthy but with the effects of inflation, being a millionaire in Australia isn't such a big deal anymore - still a nice figure though. The term millionaire has a certain ring to it, that's for sure but is it really that affluent? The average homeowner in Australia is pretty much halfway there, add superannuation entitlements and if dual income households are involved then both incomes feed into the assets.

But this is working families, rarely do they get to handle such large transactions. The real money is small business owners, business executives and the CEOs that rake in unbelievable sums relative to their output. Research indicates many small business owners have all their capital invested in their business and hold insufficient funds in the personal superannuation funds for a comfortable retirement.

So where did the figure $7.5 million come from? I'm not sure, during some research I found a definition of sorts where men and women were surveyed with men nominating $5.3 million whilst women nominate $4.8 million. At time of research, the average Australian salary is $81,947 giving roughly 64 times average annual earnings to reach that figure; that's out of reach for most people.

Whilst not an Australian definition, the US based Fidelity Investments surveyed more than 1000 millionaires in the United States to determine their definition of wealthy. Their definition of a millionaire differs to the conventional definition as they only consider $1 million in investable assets that don't include the primary residence or retirement accounts.

I find this definition extraordinary as why wouldn't you include a retirement account? After all, it is your money. I believe their definition may come from seeking funds to invest but even then, a mortgage may be taken out against a primary residence to invest.

In Australia, the option of a self managed superannuation fund is an excellent vehicle (even with the recent government meddling) to build a decent retirement income. If you control the assets in the SMSF then you are the investment manager and if you are one paying in the contributions then the beneficiary is you.

I believe they want you to spend like a millionaire so they are able to generate earnings from your savings. They want you to go all Hollywood and spend like a movie star instead of acting like the conservative millionaire next door who is relatively anonymous.    

The Australian Financial Review

Fairfax Limited is bleeding cash, their masthead newspapers of The Sydney Morning Herald and Melbourne's counterpart The Age are mere shells of what used to be journalistic integrity - not any more. Fortunately The Australian Financial Review has not suffered the same indignity as the SMH and Age newspapers as investigative reporting is still practiced the AFR.

Whilst The Australian Financial Review is not The Wall Street Journal, the AFR is an excellent round-up of the business news of not only Australia, but Asia-Pacific in general. Naturally global business news is covered but the emphasis is on Australian business news; whilst the major Australian newspapers cover business news - the AFR knows business. Whilst I wouldn't make any major financial decisions made on the advice on any articles, the AFR offers the reader an extensive but broad overview of the contemporary Australian business environment. It's a pretty decent financial newspaper and I'm happy to support this newspaper.

John Glenn's Heuer worn on Friendship 7

John Glenn, American astronaut and senator was credited as the fifth person to orbit the Earth and third American in space. Glenn, a former World War II fighter pilot and jet pilot in the Korean War wore a Heuer 2915A stopwatch as mission back-up timer during his Mercury Friendship 7 spacecraft flight in February 1962.

Credited as the first Swiss timer in space, the stopwatch was worn in a specially designed strap as this stopwatch is primarily a hand held device. I was under the the impression Heuer 2915A stopwatch was on display at the Smithsonian Institute in Washington as a tribute to Glenn's feat. However, I believe the Heuer 2915A worn by John Glenn is on display at San Diego's Air and Space museum. This really annoyed me as I missed the opportunity to view this when I was in San Diego in 2014 although I can't complain because I never visited the Smithsonian Institute when I was in Washington either - I will visit both on my next trip to the US.

The Mercury Friendship 7 spacecraft orbited the earth 3 times during his 4 hour and 56 minute mission with the city of Perth turning on their lights for Glenn's overpass. Dubbed by John as the city of lights, this remote capital city certainly got into the spirit of Glenn's achievement. I certainly have a high degree of respect for the pioneers of space, the danger these astronauts faces was real while they pushed the limits of endurance and technology.

Whilst the 2915A stopwatch was considered a back-up timer for the purposes of redundancy, one now views the then cutting edge technology with more than a little suspicion. How were they able to fly humans into space with the systems and vehicles they had? We now look back at Glenn's back-up mission timer with a little humour, this is how they went to space back then in the Mercury program - unbelievable.

The rich kids of social media

I have been told the rich were once discrete with their money, this is clearly not the case anymore. People have always held wealth and power and this will continue into the future so any thoughts of envy are wasted. The proliferation of social media fame is now projecting rich kids with no real skills into online currency.

The social media platforms of Instagram, Twitter, Facebook, Snapchat and Tumblr are the tools of the socialite with obligatory selfies that are now the currency of the nouveau rich. They already have the money, now they are seeking online fame driven no doubt by the success of Paris Hilton and the Kardashians.

The disdain of people making their fortune within a generation is elitist and unfounded, the nouveau rich are no longer unrefined and uneducated - described as the great unwashed. I do have issues with the term nouveau rich as generational wealth is generally one of privilege and not hard work. My personal interaction with rich kids is somewhat limited due to my working class background.

I respect effort, ingenuity and application so I respect self-made people. With tertiary education now available for all socio-economic classes. The knowledge gap between generational wealth and nouveau rich has narrowed, in modern times, we are all educated.

We can go to an art gallery to view a Renoir, Picasso, Dali or a Monet but we are unable to afford to buy one at auction. We have the ability to pay the gallery entrance fee and stand in front of this great artwork, we can take art classes at either college or university just like the rich kids.

I have to admit, I have an Instagram account with no pictures posted but I can't say I use it that much, more to check what is going on - I'm a follower. I like to read so I am seeing articles coming up with titles such as The Rich Kids of Tehran, The Rich Kids of Instagram and The Rich Kids of Dubai; this phenomenon is increasing.

Social media is the new currency of the showy and unsophisticated; what was once seen as vulgar is now viewed de rigueur. I must admit I find it a little crass, this outward display of wealth is more than a little self-centred, it acts to cover up their personal short-comings and self worth. As I'm interested in luxury goods from a business perspective, my interest is more than passing.

The fashion and luxury goods market is based on discretionary spending and generally cyclical in nature, yet most of these people are not self made instead spending their parents money in an indiscriminate manner - pathetic really. Instead, use your time, effort and parent's money to assist those less fortunate than yourselves.

Biku - high tea in Bali

The decor of the cafe was magnificent, the extensive use of wood throughout set the ambiance with the local crafts strategically located. The staff are well trained and attentive, Biku is well worth the visit and while not cheap by Bali standards, I believe excellent value for money.

They are famous for their high tea, so the first thing I used to do was go and do is exchange my tea for a long black coffee. That then changed after I tried their South African red berry tea, I have been won over, I couldn't get enough of this wonderful tea. That being said, the sandwiches, savories and scones were top notch - totally filling the two of us up. This was a totally unexpected experience in Bali, the island is slowly moving upmarket and Biku is a stylish cafe of note I always return to when in Bali.

The Omega Aqua Terra Golf Edition

Is the Aqua Terra the entry-level Omega? On my first inspection, I would have said yes. Whilst I came to this assumption based on the features, finish and depth rating of this particular timepiece, I was found to be totally incorrect in this assumption after checking actual pricing.

My father had an Omega Chronostop reference 145.009 in the 1970s and 1980s with a NATO strap, back then I thought he was a little uncool. Fast forward to 2017 with the release of the Aqua Terra Golf Edition; the Aqua Terra is now issued with a NATO strap - it appears my old man was ahead of his time.

The 41 mm stainless steel case is water resistant to 150 metres and although the Aqua Terra falls within the Seamaster range, I don't personally identify this timepiece as a marine style watch. I understand my logic is flawed as the Aqua Terra looks closer to the 1948 Seamaster designs than the comtemporary Seamaster 300, Planet Ocean and Diver 300 timepieces.

The 8900 automatic movement, resistant to 15,000 gauss is equipped with Omega's co-axial escapement and has a 60 hours power reserve. The case finish is finely polished supporting a scratch resistance sapphire crystal and a screw-in display case back. The screw-in crown ensures the integrity of the case and along with the fore mentioned NATO strap, the Aqua Terra Golf Edition is cool again.

The Tissot PRS 516 chronograph

I was looking in my favourite chain of Perth jewellers and looking at different timepieces that I normally seek. The retail assistant, her name is Suan and she was born in Kuala Lumpur and she had some ideas for me to look at that would suit a young male with an interest in motor sports.

I was looking at a timepiece for my nephew while he still had a year until his eighteenth birthday. His grandparents purchased a watch for him when be began high school and it hasn't been a real success. He really doesn't respect the effort required to earn the money to purchase any goods or services and has a history of losing, dropping, stepping on, submersing in water or breaking any item of value although he would deny this.

His watch, purchased for high school by his grandparents has been broken on multiple occasions, lost a couple of times although his grandfather did go back and successfully searched at its last known whereabouts. His late father was an avid motorsport enthusiast and although I don't want to replace his grandparents wristwatch for daily activities, this timepiece meets a number of criteria that hopefully connects with him.

I wanted to give him a timepiece so every time he looks at his wrist he can remember his late father. He can hopefully learn to manage time by arriving and departing on time respecting the work and effort required to purchase such items. His father had an amazing work ethic, a strong sense of values and was pretty handy with most things, he was respectful and knew how to look after items of value.

I don't want to be disrespectful to my nephew as I am well aware that he thinks about his father constantly. Want I am seeking is a positive connection to what his father enjoyed and that is cars, motorsport and golf. The next connection he and his father followed together was Australian Rules Football and Tissot is the official timekeeper of the AFL so hopefully he feels a connection with the brand.

The PRS 516 chronograph has the option of an automatic or quartz movement, I was looking at the quartz movement for him as he wouldn't appreciate the complexities of an automatic movement and doesn't want to be setting the time constantly.

According to Tissot, the PRS 516 reflects on the 1960s motorsport inspired origins immediately drawing comparisons in my mind with the TAG Heuer Carrera, Omega Speedmaster and Rolex Daytona, albeit in a slightly different price range.

The ETAG10.212 quartz movement has 4 jewels and expected 2 year battery life. The 42 mm 316L stainless steel case is water resistant to 100 metres and comes with a ceramic bezel and scratch resistant sapphire crystal. Hopefully, he can now he not scratch the face as he tends to be a little rough on hardware.

The dial I preferred is black although a white option exists but that wouldn't suit him. There are three colour schemes of yellow, red and blue with colouring on the second hand, chronograph hands, pushers and model number on the yellow and red models but not the blue model.

Ironically after so much thought, I didn't end up getting him this timepiece. I ended up looking at something a little less cluttered on the dial; I thought better represented his new life just beginning now he is eighteen. Maybe me making him think of his father every time he looked at his wrist was a bit presumptuous; so instead I made another choice that hopefully had just as much thought put into it as this choice.

Is entrepreneurship on the wane?

When departing Dean of the Graduate School of Business, Garth Saloner advised students to curb their start-up ambitions to at least until they graduate - I couldn't believe it. While he is not saying don't go out and build a start-up, he is saying wait until you complete the program before starting - surprising, but not necessarily bad advice from Stanford University.

I believe it has more to do with personal focus than negative consequences for the school, Stanford Business School is a leader in entrepreneurship. However, Saloner's statement “We’re not the graduate school of entrepreneurship” is surprising based on not only their geographical location close to Silicon Valley and their relationship with venture capitalists seeking to invest vast sums with their students.

Saloner, a Professor of Economics earned his MBA in 1977 and his PhD in 1982 was the Dean from 2009 to 2016 who also co-wrote books on strategic management and one on value creation. I could not believe the number of cases Saloner wrote for Stanford Business School, numerous journal articles and now teaches entrepreneurship, to my thinking - he knows what he is talking about. 

The top level business schools have invested in faculty and innovation labs pushing innovation and entrepreneurship courses on their student ensuring their business school is viewed as the leader of cutting edge technology to recruit the top talent. Saloner's attitude appears to be at odds with current trends top flight business schools especially considering Stanford's clear lead in the prevalence of MBA led start-ups. I am interested to see how this one pans out.