Opinion
Fallout of the Careem – Fakharany Saga
It started so well. One of the most respected Egyptian IT executives, a 3Com and Google veteran (disclaimer – I briefly worked with Wael when he was at 3Com in 2005), Wael Fakhrany announced he was to leave his senior role in Google to join Careem, the app-based car booking service that had been founded five years ago in Dubai and which had become only the second tech unicorn in the region.
In a Medium piece written to explain why he’d be leaving one of the most respected companies in the world, Wael wrote that:
“For me, Careem represents more than a dream, it represents a promise. The promise that a local company, from this region, created by people who grew up here and understand our problems can cater to those issues. The idea is that it wouldn’t cater to them the same way your average multinational does — not by applying some sort of all-encompassing global law and calling it their mission or values and not caring what the users want. It was about compliance with local laws to the fullest, ensuring that we are integrated and part of the community. Ensuring we are providing an unrivaled caliber of service; and that all the stakeholders — whether us, the government, the captains, or the customers all came out as winners.”
The match seemed to be ideal; Wael would lead the organization in Egypt as its Managing Director and Senior Vice President Government Relations. Careem would benefit from Wael’s decades-worth of experience in the tech sector as well as his brand image in Egypt.
This partnership ended on Sunday this week, in dramatic fashion. As you’re all aware, Careem announced that Wael was leaving, in a rather haphazard fashion, with the following: “There are times when a great mind in a great role at a great business does not necessarily make a great fit”. There was no hint of why he’d left, after only six months with Careem, and no explanation as to whether he’d been let go or left of his own accord.
Taking to Twitter the day after to refute the claim that he’d left of his own accord, Wael wrote that, “I didn’t resign from Careem, I was fired in a humiliating and abrupt way. God knows how hard I’ve worked. I am heartbroken, but I know that justice will be done.” That tweet, which was Wael’s last activity online, has been shared over 1,200 times. It has also spurred a backlash against Careem in Egypt, with thousands of Egyptians using the hashtag #DeleteCareem to show their support for Wael.
لم استقيل من كريم و لكن تم طردى من الشركة بطريقه مهينه و مفاجئه. يعلم اللة مدي المجهود اللي عملته. انا مقهور و لكن متأكد أن حقي هيرجعلي !
— Wael Fakharany (@mowael) March 13, 2017
Lessons to be learned
It won’t be the first time that a seemingly perfect match ends in such a manner. The public reaction is easier to understand, however. Careem has handled the situation poorly. It seems that the announcement was made without Wael’s input. And the language used in the release was vague at best, leaving many to wonder if Wael had left of his own accord only months after leaving Google for Careem. Wael had himself written that people who ask why he’d leave Google for Careem. What would they think of him for leaving Careem six months after quitting Google?
Wael’s response wasn’t surprising. In the age of social media, it’s never been easier to put out a message online that can reach millions. It also underlines another lesson for Careem, namely that a personal message will always trump corporate speak. In hindsight, it was wrong to use a press release and ambiguous language, and not ask one of the partner founders to step in and give their own voice to the reasoning behind the decision for Wael to leave.
For many of those Egyptians who responded to Wael’s tweet, he was Careem in Egypt (the visual of Wael next to Careem is the one which has been used by many online as well as traditional media). The fact that he’s now leaving means that they’ll take their business elsewhere. They knew Careem through Wael. It says a great deal about both that the personal brand of Wael Fakhrany is stronger than that of Careem’s brand among the country’s online community.
Finally, there’s the Careem story. Wael wrote about wanting to work for a local start-up that supports local communities and is in tune with local values, and much of Careem’s narrative has been about it being from the Middle East and for the Middle East. This episode reminds me of similar issues that UBER has recently faced regarding its CEO. Narratives are great for engaging people, but they must fit with the facts.
Whatever the outcome of this saga, I do hope that both parties come out learning lessons for the future. Wael is a remarkable person, who has done more than many to support the local tech start-up community in Egypt. Likewise, Careem is a tech success story of what can be done regionally with the right investment and strategy. Nevertheless, a company without values is simply a shell. Careem’s management would do well to learn that values are lived through actions, and not just words.
Creative Work
5 Best Cameras for Filmmakers in 2023
If you’re ready to take your filmmaking to the next level, it’s time to invest in a top-notch camera that will capture your creative vision in stunning detail. Whether you’re a budding director, a passionate documentarian, or a visual storyteller, we’ve scoured the market to bring you the crème de la crème of cameras. Get your director’s chair ready as we unveil the best cameras for digital filmmakers.
1. Sony A7 III
The Sony A7 III is a powerhouse camera that combines exceptional image quality, superb low-light performance, and incredible dynamic range. With its 24.2-megapixel full-frame sensor, 4K video capabilities, and impressive autofocus system, this camera is now a favorite amongst vloggers and serious filmmakers.
Price: $1,998.
2. Canon EOS R5
This beast of a camera boasts a 45-megapixel full-frame sensor, 8K video recording, and advanced image stabilization. With its lightning-fast autofocus and superb color reproduction, it’s a dream come true for filmmakers seeking unrivaled quality.
Price: $3,899.
3. Blackmagic Pocket Cinema Camera 6K
This compact camera punches well above its weight class. With its Super 35mm sensor, 6K resolution, and wide dynamic range, it delivers breathtaking footage that will make your audience sit up and take notice. The camera’s versatility and robust color-grading capabilities make it a top choice for filmmakers on a budget. For the size, it’s superb.
Price: $1,995.
4. Panasonic Lumix GH5
The Panasonic Lumix GH5 is a mirrorless camera that packs a punch. With its 20.3-megapixel Micro Four Thirds sensor, 4K video at 60fps, and impressive image stabilization, it’s a reliable companion for filmmakers on the go. The camera’s rugged build and extensive video features make it a favorite among adventurous filmmakers.
Price: $1,497.95.
5. RED Komodo 6K
Ready to make a blockbuster? The RED Komodo 6K is a professional cinema camera that delivers stunning image quality and flexibility. With its compact form factor, global shutter, and 6K resolution, it’s a favorite among filmmakers aiming for cinematic perfection. While it comes with a higher price tag, its capabilities make it a worthwhile investment for severe digital filmmakers.
Price: $6,000.
With these top cameras in your arsenal, you’ll be ready to bring your cinematic visions to life. From Sony’s excellence to Canon’s innovation and Blackmagic’s affordability to RED’s unmatched quality, there’s a camera for every budget and filmmaking style. So, grab your director’s chair, gather your crew, and let your creative genius shine on the silver screen.
[Note: Prices mentioned here are approximate and subject to change. Please refer to the manufacturer’s websites for the most up-to-date pricing information.]
News
Threads: Unravelling the Spectacular Launch of the Hottest Social Media Platform
There’s been a disturbance in the force. In a world of constantly evolving social media platforms, a new contender has burst onto the scene, capturing the attention of millions and leaving a trail of excitement in its wake.
Threads, Meta’s Twitter rival, has taken the digital realm by storm, offering a refreshing and dynamic experience for users growing weary of Muskian meddling and looking for a unique social media adventure.
Let’s delve into the exhilarating launch of Threads, explore the number of users who have flocked to the platform, and discover the types of individuals we think it might attract.
A Diverse User Base Flocks to Threads
Threads has become the talk of the town. Since its much-anticipated launch, the platform has amassed 30+ million registered users worldwide, 5m reportedly arriving in the first 4 hours of operation. Industry experts predict his rapid growth will position Threads as a significant player in the digital realm, rivaling established giants such as Facebook, Twitter, and Instagram.
Threads: A Haven for Digital Mavericks and Creatives
One of the most intriguing aspects of Threads is its potential to attract a diverse range of users. The platform’s unique features and captivating interface appeal to people of all ages, interests, and backgrounds. From Gen Z trendsetters to seasoned professionals seeking a fresh networking platform, Threads offers something for everyone.
Threads will quickly become a haven for digital mavericks who yearn for a distinct online experience. These early adopters thrive on innovation, eagerly embracing new technologies and platforms. Their active presence on Threads will result in a vibrant and cutting-edge community that in turn will attract more thrill seekers.
The platform will also be a magnet for creatives, drawing in artists, designers, photographers, and writers. The platform’s visually immersive nature allows users to showcase their talents and connect with like-minded individuals. We guess. Threads will become a hub of inspiration and collaboration for global artists.
Threads: The Go-To Platform for Networking Professionals
For professionals searching for fresh networking and career growth avenues, Threads will emerge as the go-to platform. Its interactive and intuitive interface enables users to build meaningful connections, exchange ideas, and explore job opportunities. The platform’s focus on fostering professional relationships differentiates it from traditional social media networks.
Amplifying Voices and Effecting Positive Change on Threads
Threads is not just about self-expression; it will also attract passionate individuals who want to make a difference. Users dedicated to social causes and activism can find a home on the platform, utilizing its extensive reach to raise awareness and mobilize communities. Threads will prove a powerful platform for amplifying voices and effecting positive change.
Setting Threads Apart: Seamlessness, User Experience, and Privacy Measures
What sets Threads apart from its competitors? Its appeal lies in combining seamless functionality with a seductive user experience. The platform’s innovative features, including dynamic threads, immersive multimedia integration, and intelligent algorithms that tailor content to individual interests, have proved a real draw. Moreover, Threads’ commitment to user privacy and data security has provided a real draw. Threads app offers fresh air in an era of data breaches and privacy concerns by prioritizing transparency and implementing robust privacy measures.
The Impact of Threads: A Force to be Reckoned With
Threads has unquestionably ignited the social media landscape. With its explosive launch, staggering user numbers, and diverse user base, the platform has proven it will be a force to be reckoned with. Whether you’re a digital maverick, creative connoisseur, networking ninja, or cause champion, Threads promises to be the reactive social media platform of choice, and its impact on the digital landscape is only set to grow. Stand by for a new world order, one connected by threads.
Opinion
What’s happening with Swvl?
Swvl, an Egyptian ridesharing company, has seen a significant decline in value due to financial struggles, resulting in a 99% drop in stock price year-to-date (YTD), hovering around $0.10 and a market capitalization of less than $15 million. Reported Bloomberg.
Swvl was founded in Egypt in April 2017, by Mostafa Kandil and two of his school friends, Ahmed Sabbah and Mahmoud Nouh.
The company was initially funded with $30,000 from the founders. Four months later, Swvl received an additional $500,000 in funding from the ridesharing company Careem. Originally, the company developed an app to address traffic congestion in Cairo but later shifted its focus to creating a platform for booking affordable bus trips in the city.
In 2018, Swvl completed two rounds of funding: a Series A game that raised $8 million and a Series B round between $25-35 million.
The company was valued at around $100 million during these funding rounds, which were co-led by BECO Capital, DiGAME, and Silicon Badia.
Why is Swvl falling?
Since its inception, Swvl has operated by renting buses with drivers for a monthly fee and then using them to run on fixed routes. Unlike the Uber model, which relies on marketing as it offers a marketplace to match drivers who own the cars to users who use the mobile app – they make a profit by getting a cut from the ride.
On the contrary, Swvl’s model owns the entire operation (renting the bus in advance, drivers’ salaries, and marketing for the app). This puts more cost on the company while its revenues are fixed or, most of the time, less because no bus will go complete all day, all routes.
Without going through the exact numbers, it’s evident that Swvl cannot profit with the current business model, and it’s a matter of time before the company’s cash dries out.
How can Swvl recover? Tell us in the comments below.
Inspired by: a Linkedin post by Zubair Naem.
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