Pubmatic

Pubmatic INTRODUCTIONMartin: Hi, today we are in beautiful Redwood City at PubMatic’s office. Hi, Rajeev, how are you and what do you do?Rajeev: Hi, Martin. Good to be here with you. My name is Rajeev Goel , co-founder and CEO of PubMatic.Martin: What made you start this company?Rajeev: Sure. So PubMatic is actually my second startup. I was born and raised here in Silicon Valley and I did my first startup when I was in college along with my brother who was the founder of the company. He and I started PubMatic as well along with a couple of other co-founders. The opportunity around PubMatic came from our own experimentation as being publishers and trying to monetize content on websites. He and I both have masters in Computer science so we think about things from technology, data and systems perspective. And as we were trying to monetize some properties that we had set up we discovered many of the challenges around how advertising, the buying and selling of advertising has changed from being property or content based to being audience based. At the same time there were no systems, no technology applications to help publishers with this. And so we felt we could create a very significant multibillion dollar technology and services company and focus on the needs of publishers and that’s what we have been doing the past nine or so years.Martin: Good. So this means that PubMatic directly was springed out of your previous startup.Rajeev: So actually the first startup was back in the mid-nineties, so I am probably older than I look. And then after that I spent about five years in strategy consulting. So selling to Fortune 1000 companies; Craft Foods, Lowes home improvement, All State insurance. And then I spent a couple of years with the German software company SAP here in Palo Alto. So I was at SAP and Amar was at McKinsey and at Microsoft, so he was at Microsoft in ad sales. We both wanted to go back to our entrepreneurial roots and build something from scratch and so as w e experimented with website monetization we discovered the opportunity around PubMatic.BUSINESS MODEL OF PUBMATICMartin: Let’s talk about the business model of PubMatic. So what are the specific customer segments that you are targeting?Rajeev: So when we look at the advertising industry what we found is that large publishers are significantly underserved in terms of partners that are helping them in terms of technology and in terms of services. So if you look at the advertiser side of the ecosystem there are very large agencies and agency holding companies and they help the marketers, the brands figure out where to spend their advertising budgets. The flipside of that of course is that big media companies, app developers, publishers, they have to build the content and the audience that those marketers want to spend on and they don’t have any real help. That’s what we created PubMatic for.So PubMatic today is a leading software Platform Company and we help these big publishers maximize the value of all their digital assets and we do that through technology software platform that is licensed on a fee basis.Martin: And is it that you are only helping them to monetize the content or are you also helping in producing and distributing this content?Rajeev: We don’t help them actually generate new content but what we do help them with is three distinct things.First is yield management, so helping them drives as much revenue as possible for every single ad impression.Second is workflow automation, so there are a lot of things that happen inside of a publisher or an app developer that are very manual in nature and we can improve a lot of those outcomes by informing with data and then streamlining it through software automation.And the third thing is analytics so we recently launched a real time analytics platform and this is the industry’s leading analytics solution that really helps these publishers and app developers better understand what exactly is happeni ng inside of their business so they get new insights and can create new opportunities and new initiatives.Martin: But this would mean, ok understood, yield management having them based on the current content and eyeballs monetizing or improving the CPMs for example but on this automation and analytics part, I guess it would I guess publisher understand which content is performing better so he can produce more of those.Rajeev: Yes, I think much of the technology that we have built is applicable as well to the content as well as the advertising and that’s an area we hope to explore much more deeply in the coming few years.Martin: Cool. Tell me about the beginnings of the startup. Because if you are building two sided model somehow how did you find the first customers? I guess you targeted first publishers.Rajeev: Yes, that’s right. When we first launched back in, we started the company in 2006 and launched the first version of the platform in 2007. We launched it on a self-service open basis. So we knew that this was very disruptive technology, disruptive approach and we couldn’t identify all the potential customers or more importantly how customers would actually use the platform and so we launched it on open basis, people could come and sign up for free while we were under Beta and try out the application and use it. And we would actually spend a lot of our time in the first six months just calling up customers that signed up for the product and asking them: Was it working for them? What was working well? What was not working well? What additional features they would like. So we spent a lot of time just talking to those customers and I think taking that open approach when you are the first in the market, when you are pioneering a new market is very, very good because you can never really imagine how your customers will utilize your solution.Martin: So this means after you introduced your first version for free you build up some scale I suppose based on t he publishers and only then you started to onboard advertisers?Rajeev: We actually work directly with publishers. We don’t work directly with advertisers. So the advertisers work with us through their own technology partner, typically a demand site platform or other type of exchange solution.As we started to discover which types of publishers, which segments our product was resonating with them most we moved from being a free beta to being a premium solution that is on a paid basis and in fact we only work today with several hundred publishers or 500 or 600publishers globally but we target the largest publishers in the world. So our customers are companies like NBC, Spotify, and New York Times â€" so very, very large publishing organizations or applications, mobile applications. And what we have found is that by being more selective and working with fewer but larger publishing organizations we can really go much deeper into helping them drive their business better and that it is a better business opportunity for them and better business for us.Martin: Rajeev, how is the revenue model working and how did you come up with the specific pricing tier?Rajeev: Pricing, like a lot of things came through experimentation but we charge the publishers a fee for the use of the platform and the demand side platforms that I mentioned earlier also bid and buy media and audience. On our platform we have fee based solutions for them. And these are primarily on a revenue share basis where we charge a fee equivalent to some percentage of the media value that these publishers and buying technology organizations and buying companies transact on our platform. And figuring out exactly what that fee is I would say is a constant experiment in some ways. So we are always testing new pricing, we are always taking new approaches to market and seeing what’s resonating with the customers and seeing what they like, what they don’t like. I think as a market grows and matures there are a lso opportunities to change pricing.In the early stages of our business customers wanted a risk based approach where we would only take a fee if we could demonstrate certain results, but as our model became more and more common and publishers understood that there were real gains then they were willing to pay a fee for all of their business but that’s a lower fee but that has actually worked very well for them and for us.Martin: Rajeev, you see so many publishers, what type of trend can you identify in the publishing industry?Rajeev: Obviously one of the biggest trends is the shift towards mobile. Within our own publisher base maybe three years ago 10 to 20 percent of the traffic that these publishers had was on mobile devices and now that’s well over 50 percent for the vast majority of publishers and of course for some app developers they have only mobile application or mobile experience. They don’t have any desktop experience. Publishers are really struggling to figure out h ow to they best monetize and build a consumer experience in that environment. So that I think is one of the biggest trends. We recently published some data to show that we have closed the mobile advertising gap with our platform where publishers actually see higher mobile CPMs than they do desktop CPMs which I think is great news for publishers.Second key trend is the shift towards a real time bidding or programmatic advertising. So typically advertising has been bought and sold by hand so you have expensive sales people from the publisher that are courting the advertisers and that process is changing to be much more one about audiences, ‘I want to find high quality audience that is with specific attributes’ and they want to find them in real time so that based on what you have done in your last hour, day or week on the internet and exhibited certain behaviors or interests advertisers can target that on anonymous basis. So that is also changing I think how advertising is being b ought and sold.And I think the third big trend is you have got the walled gardens, and so the likes of Google and Facebook and these other what are typically considered technology companies but in fact are making the vast majority of revenue through media and advertising sales. So Google of course is a very large publisher, they have You Tube, Gmail, Maps, these are huge properties. Facebook of course makes almost all of its revenue through advertising. So these media technology companies are putting significant competitive pressure on traditional publishers and I think those publishers are figuring out how do they react to that and how do they thrive and succeed.Martin: And what is your perspective on the pay walls because I think in Germany, New York times as well is increasingly trying to put content behind pay walls. Do you think this is some kind if a permanent trend or maybe do you think, “OK, this is just a short term trend”?Rajeev: Yes, I think pay walls definitely have a future in the media industry. The real challenge is how many companies have premium enough content or unique enough content that they can charge for it and consumers will be willing to pay for. I think that’s a pretty slim number of publishers, obviously some well-known examples like Axel Springer in Germany, New York Times or Wall Street Journal in the US. But I think after 10, 20, maybe 50 titles the number of properties that significant number of consumers are actually willing to pay for drops significantly and of course the course of creating news, creating content, distributing and all of those things is quite expensive. So I think a pay wall would be a suitable solution for a handful of media companies but I think we will definitely need to see advertising even beyond that.Martin: My perception is that whole publisher world is becoming a little bit more volatile over the last five years or so. Some bigger publishers are going a little bit down in terms of number of viewers and some media like Upworthy are shooting up like in a year or so. What is your perspective on that?Rajeev: I think that’s right. It’s clear that in today’s world of mobile devices, viral distribution and referral through friends there are many new ways to make a publishing or media company succeed and many of the traditional ways no longer work. Subscriptions and these kind of things, heavy paid media , buying advertising, buying distribution; a lot of those things don’t work, but like you said Upworthy, Buzzfeed or some of these other newer models take advantage of creating content that is more viral, more snackable and more shareable is how they are driving distribution and then of course monetizing that through advertising.So I think this requires a very fundamental re-think of how newsrooms are built. In a lot of these companies they compensate their writers based on how many shares their articles get. That s a very different value system, much less economic system tha n going after long format journalism that can win a Pulitzer prize or such industry award. So I think many of these traditional media companies have to rethink what does it mean to be a publisher, what does it mean to be a news bureau and how do we succeed in the new world and they are struggling with that as it may mean to change their actual identity.Martin: Rajeev, over the last 9 years what have been the major obstacles while building PubMatic and how did you overcome them?Rajeev: I think we have had many, many obstacles and I am sure we will have many more to come.The first obstacle was when we launched the business it was new and disruptive so people did not understand what the value was, how to use it, all of these things. So we had a multiyear period of education in the market where we had to really educate publishers, educate advertisers on what is our model, why is it valuable, how could it help them. And I think once we achieved that we saw very significant growth.I think another key challenge in this industry and in the advertising industry and online industry is the rapid pace of change. So innovation cycles, technology cycles are six to twelve months in nature and so if you are not constantly innovating then you are going to be out of business pretty soon. So one of the things that we have done, and with significant success, is we have built a global engineering team: 20 percent is here in the US and 80 percent is in India. And that lets us innovate in real time around the world and also innovate at a price point in terms of our cost basis that is very different that drives profitability into our business. So these I would say are two of the biggest challenges.Martin: One question to the operations. How do you manage the operations because you have an office here in the Silicon Valley I guess mostly for tech reasons and I guess you have an office in New York where lots of publishers are and potentially only for customer relations and sales and ho w are your serving the other worldwide or international clients?Rajeev: We have 13 offices now around the world, so we have got three or four in the US, we have 4 or 5 across Europe â€" so Munich, London, Paris, Stockholm, Milan and then we have several across Asia Pacific â€" Tokyo, Singapore, Sydney and India. So many of these are local sales and service offices, as you mentioned, and the headquarters are here in Silicon Valley and for significant development in India.We have been a global business from day one, so two of my co-founders are based in India, two of them are out here so you know Silicon Valley and India are on the opposite sides of the world and then we have just been filling in all the space in between. But it does require operating on a different level in order to succeed and being very global from day one. And that’s one of the lessons I learned at SAP. When I was working here in Palo Alto, headquarters is in Waldorf, Germany and significant operations in China and elsewhere around the world. And so you learn to communicate differently, you learn to build products in a different fashion, you learn a certain discipline and how you take products to market and sell them and so your global sales force can speed on them and those are some of the many lessons I tried to apply here in PubMatic.Martin: And when you started, Rajeev, did you start with a development team in India based on your Indian background or did you start with a developer team here in the Silicon Valley.Rajeev: Yes, in fact our first couple of dozen developers were all in India. At one point we were about 30 people â€" just myself here in Silicon Valley and 29 people in India. I was doing everything non-development related: driving product and driving business and marketing and all of those things. We tried to put every dollar we could into technology and research and development at the beginning. And then as we started to sign up customers then we of course of involved the bu siness facing teams.Martin: What I hear from a lot of people that when you are working with Indian developers you really need to focus on the quality, because they have a different kind of mindset form people from the US or Europe etc. How did you in the beginning choose the right developers for your team?Rajeev: Yes, I think that’s an important question. And particularly in environments where there isn’t necessarily the same startup culture, there can be a desire for people to work at large companies where there is less perceived risk compared to the bigger brand names.So what we did is we looked for a combination of two things;One is someone who had proven ability to develop well, by that I mean they worked in development organizations for several years, we could give them code tests and things like that actually test their coding abilities.And then second we looked for the right mind set. So we wanted younger, more entrepreneurial, hungry developers, men and women who really were not satisfied with a lot of the maintenance work they happens at big development organizations in India and then said were hungry to do real innovations.And then one of the other things we have done is we have let those folks travel quite a bit to the US. So it is very important to them to meet with customers, be on the front lines of solving for customer problem because that is a very different mindset and approach than sitting in a building all day and coding in abstract.ADVICE TO ENTREPRENEURS FROM RAJEEV GOEL In Redwood City (CA), we met with Rajeev Goel, Co-Founder and CEO of PubMatic, a leading marketing automation software company. Rajeev shares his story of what sparked the idea for PubMatic which he started with his brother, Amar, as well as how PubMatics business model has evolved since its founding in 2006. Rajeev also imparts his perspectives on the most prevalent trends in digital media and advertising, including the rapid shift to mobile platforms, and provides some crucial advice to aspiring entrepreneurs around mission, funding and stability.INTRODUCTIONMartin: Hi, today we are in beautiful Redwood City at PubMatic’s office. Hi, Rajeev, how are you and what do you do?Rajeev: Hi, Martin. Good to be here with you. My name is Rajeev Goel , co-founder and CEO of PubMatic.Martin: What made you start this company?Rajeev: Sure. So PubMatic is actually my second startup. I was born and raised here in Silicon Valley and I did my first startup when I was in college along with my broth er who was the founder of the company. He and I started PubMatic as well along with a couple of other co-founders. The opportunity around PubMatic came from our own experimentation as being publishers and trying to monetize content on websites. He and I both have masters in Computer science so we think about things from technology, data and systems perspective. And as we were trying to monetize some properties that we had set up we discovered many of the challenges around how advertising, the buying and selling of advertising has changed from being property or content based to being audience based. At the same time there were no systems, no technology applications to help publishers with this. And so we felt we could create a very significant multibillion dollar technology and services company and focus on the needs of publishers and that’s what we have been doing the past nine or so years.Martin: Good. So this means that PubMatic directly was springed out of your previous startup .Rajeev: So actually the first startup was back in the mid-nineties, so I am probably older than I look. And then after that I spent about five years in strategy consulting. So selling to Fortune 1000 companies; Craft Foods, Lowes home improvement, All State insurance. And then I spent a couple of years with the German software company SAP here in Palo Alto. So I was at SAP and Amar was at McKinsey and at Microsoft, so he was at Microsoft in ad sales. We both wanted to go back to our entrepreneurial roots and build something from scratch and so as we experimented with website monetization we discovered the opportunity around PubMatic.BUSINESS MODEL OF PUBMATICMartin: Let’s talk about the business model of PubMatic. So what are the specific customer segments that you are targeting?Rajeev: So when we look at the advertising industry what we found is that large publishers are significantly underserved in terms of partners that are helping them in terms of technology and in terms of s ervices. So if you look at the advertiser side of the ecosystem there are very large agencies and agency holding companies and they help the marketers, the brands figure out where to spend their advertising budgets. The flipside of that of course is that big media companies, app developers, publishers, they have to build the content and the audience that those marketers want to spend on and they don’t have any real help. That’s what we created PubMatic for.So PubMatic today is a leading software Platform Company and we help these big publishers maximize the value of all their digital assets and we do that through technology software platform that is licensed on a fee basis.Martin: And is it that you are only helping them to monetize the content or are you also helping in producing and distributing this content?Rajeev: We don’t help them actually generate new content but what we do help them with is three distinct things.First is yield management, so helping them drives as much revenue as possible for every single ad impression.Second is workflow automation, so there are a lot of things that happen inside of a publisher or an app developer that are very manual in nature and we can improve a lot of those outcomes by informing with data and then streamlining it through software automation.And the third thing is analytics so we recently launched a real time analytics platform and this is the industry’s leading analytics solution that really helps these publishers and app developers better understand what exactly is happening inside of their business so they get new insights and can create new opportunities and new initiatives.Martin: But this would mean, ok understood, yield management having them based on the current content and eyeballs monetizing or improving the CPMs for example but on this automation and analytics part, I guess it would I guess publisher understand which content is performing better so he can produce more of those.Rajeev: Yes, I think much of the technology that we have built is applicable as well to the content as well as the advertising and that’s an area we hope to explore much more deeply in the coming few years.Martin: Cool. Tell me about the beginnings of the startup. Because if you are building two sided model somehow how did you find the first customers? I guess you targeted first publishers.Rajeev: Yes, that’s right. When we first launched back in, we started the company in 2006 and launched the first version of the platform in 2007. We launched it on a self-service open basis. So we knew that this was very disruptive technology, disruptive approach and we couldn’t identify all the potential customers or more importantly how customers would actually use the platform and so we launched it on open basis, people could come and sign up for free while we were under Beta and try out the application and use it. And we would actually spend a lot of our time in the first six months just calling up customer s that signed up for the product and asking them: Was it working for them? What was working well? What was not working well? What additional features they would like. So we spent a lot of time just talking to those customers and I think taking that open approach when you are the first in the market, when you are pioneering a new market is very, very good because you can never really imagine how your customers will utilize your solution.Martin: So this means after you introduced your first version for free you build up some scale I suppose based on the publishers and only then you started to onboard advertisers?Rajeev: We actually work directly with publishers. We don’t work directly with advertisers. So the advertisers work with us through their own technology partner, typically a demand site platform or other type of exchange solution.As we started to discover which types of publishers, which segments our product was resonating with them most we moved from being a free beta to be ing a premium solution that is on a paid basis and in fact we only work today with several hundred publishers or 500 or 600publishers globally but we target the largest publishers in the world. So our customers are companies like NBC, Spotify, and New York Times â€" so very, very large publishing organizations or applications, mobile applications. And what we have found is that by being more selective and working with fewer but larger publishing organizations we can really go much deeper into helping them drive their business better and that it is a better business opportunity for them and better business for us.Martin: Rajeev, how is the revenue model working and how did you come up with the specific pricing tier?Rajeev: Pricing, like a lot of things came through experimentation but we charge the publishers a fee for the use of the platform and the demand side platforms that I mentioned earlier also bid and buy media and audience. On our platform we have fee based solutions for the m. And these are primarily on a revenue share basis where we charge a fee equivalent to some percentage of the media value that these publishers and buying technology organizations and buying companies transact on our platform. And figuring out exactly what that fee is I would say is a constant experiment in some ways. So we are always testing new pricing, we are always taking new approaches to market and seeing what’s resonating with the customers and seeing what they like, what they don’t like. I think as a market grows and matures there are also opportunities to change pricing.In the early stages of our business customers wanted a risk based approach where we would only take a fee if we could demonstrate certain results, but as our model became more and more common and publishers understood that there were real gains then they were willing to pay a fee for all of their business but that’s a lower fee but that has actually worked very well for them and for us.Martin: Rajeev, you see so many publishers, what type of trend can you identify in the publishing industry?Rajeev: Obviously one of the biggest trends is the shift towards mobile. Within our own publisher base maybe three years ago 10 to 20 percent of the traffic that these publishers had was on mobile devices and now that’s well over 50 percent for the vast majority of publishers and of course for some app developers they have only mobile application or mobile experience. They don’t have any desktop experience. Publishers are really struggling to figure out how to they best monetize and build a consumer experience in that environment. So that I think is one of the biggest trends. We recently published some data to show that we have closed the mobile advertising gap with our platform where publishers actually see higher mobile CPMs than they do desktop CPMs which I think is great news for publishers.Second key trend is the shift towards a real time bidding or programmatic advertising. So typic ally advertising has been bought and sold by hand so you have expensive sales people from the publisher that are courting the advertisers and that process is changing to be much more one about audiences, ‘I want to find high quality audience that is with specific attributes’ and they want to find them in real time so that based on what you have done in your last hour, day or week on the internet and exhibited certain behaviors or interests advertisers can target that on anonymous basis. So that is also changing I think how advertising is being bought and sold.And I think the third big trend is you have got the walled gardens, and so the likes of Google and Facebook and these other what are typically considered technology companies but in fact are making the vast majority of revenue through media and advertising sales. So Google of course is a very large publisher, they have You Tube, Gmail, Maps, these are huge properties. Facebook of course makes almost all of its revenue throu gh advertising. So these media technology companies are putting significant competitive pressure on traditional publishers and I think those publishers are figuring out how do they react to that and how do they thrive and succeed.Martin: And what is your perspective on the pay walls because I think in Germany, New York times as well is increasingly trying to put content behind pay walls. Do you think this is some kind if a permanent trend or maybe do you think, “OK, this is just a short term trend”?Rajeev: Yes, I think pay walls definitely have a future in the media industry. The real challenge is how many companies have premium enough content or unique enough content that they can charge for it and consumers will be willing to pay for. I think that’s a pretty slim number of publishers, obviously some well-known examples like Axel Springer in Germany, New York Times or Wall Street Journal in the US. But I think after 10, 20, maybe 50 titles the number of properties that signif icant number of consumers are actually willing to pay for drops significantly and of course the course of creating news, creating content, distributing and all of those things is quite expensive. So I think a pay wall would be a suitable solution for a handful of media companies but I think we will definitely need to see advertising even beyond that.Martin: My perception is that whole publisher world is becoming a little bit more volatile over the last five years or so. Some bigger publishers are going a little bit down in terms of number of viewers and some media like Upworthy are shooting up like in a year or so. What is your perspective on that?Rajeev: I think that’s right. It’s clear that in today’s world of mobile devices, viral distribution and referral through friends there are many new ways to make a publishing or media company succeed and many of the traditional ways no longer work. Subscriptions and these kind of things, heavy paid media , buying advertising, buying distribution; a lot of those things don’t work, but like you said Upworthy, Buzzfeed or some of these other newer models take advantage of creating content that is more viral, more snackable and more shareable is how they are driving distribution and then of course monetizing that through advertising.So I think this requires a very fundamental re-think of how newsrooms are built. In a lot of these companies they compensate their writers based on how many shares their articles get. That s a very different value system, much less economic system than going after long format journalism that can win a Pulitzer prize or such industry award. So I think many of these traditional media companies have to rethink what does it mean to be a publisher, what does it mean to be a news bureau and how do we succeed in the new world and they are struggling with that as it may mean to change their actual identity.Martin: Rajeev, over the last 9 years what have been the major obstacles while building PubMatic and how did you overcome them?Rajeev: I think we have had many, many obstacles and I am sure we will have many more to come.The first obstacle was when we launched the business it was new and disruptive so people did not understand what the value was, how to use it, all of these things. So we had a multiyear period of education in the market where we had to really educate publishers, educate advertisers on what is our model, why is it valuable, how could it help them. And I think once we achieved that we saw very significant growth.I think another key challenge in this industry and in the advertising industry and online industry is the rapid pace of change. So innovation cycles, technology cycles are six to twelve months in nature and so if you are not constantly innovating then you are going to be out of business pretty soon. So one of the things that we have done, and with significant success, is we have built a global engineering team: 20 percent is here in the US and 8 0 percent is in India. And that lets us innovate in real time around the world and also innovate at a price point in terms of our cost basis that is very different that drives profitability into our business. So these I would say are two of the biggest challenges.Martin: One question to the operations. How do you manage the operations because you have an office here in the Silicon Valley I guess mostly for tech reasons and I guess you have an office in New York where lots of publishers are and potentially only for customer relations and sales and how are your serving the other worldwide or international clients?Rajeev: We have 13 offices now around the world, so we have got three or four in the US, we have 4 or 5 across Europe â€" so Munich, London, Paris, Stockholm, Milan and then we have several across Asia Pacific â€" Tokyo, Singapore, Sydney and India. So many of these are local sales and service offices, as you mentioned, and the headquarters are here in Silicon Valley and for significant development in India.We have been a global business from day one, so two of my co-founders are based in India, two of them are out here so you know Silicon Valley and India are on the opposite sides of the world and then we have just been filling in all the space in between. But it does require operating on a different level in order to succeed and being very global from day one. And that’s one of the lessons I learned at SAP. When I was working here in Palo Alto, headquarters is in Waldorf, Germany and significant operations in China and elsewhere around the world. And so you learn to communicate differently, you learn to build products in a different fashion, you learn a certain discipline and how you take products to market and sell them and so your global sales force can speed on them and those are some of the many lessons I tried to apply here in PubMatic.Martin: And when you started, Rajeev, did you start with a development team in India based on your Indian back ground or did you start with a developer team here in the Silicon Valley.Rajeev: Yes, in fact our first couple of dozen developers were all in India. At one point we were about 30 people â€" just myself here in Silicon Valley and 29 people in India. I was doing everything non-development related: driving product and driving business and marketing and all of those things. We tried to put every dollar we could into technology and research and development at the beginning. And then as we started to sign up customers then we of course of involved the business facing teams.Martin: What I hear from a lot of people that when you are working with Indian developers you really need to focus on the quality, because they have a different kind of mindset form people from the US or Europe etc. How did you in the beginning choose the right developers for your team?Rajeev: Yes, I think that’s an important question. And particularly in environments where there isn’t necessarily the same startup culture, there can be a desire for people to work at large companies where there is less perceived risk compared to the bigger brand names.So what we did is we looked for a combination of two things;One is someone who had proven ability to develop well, by that I mean they worked in development organizations for several years, we could give them code tests and things like that actually test their coding abilities.And then second we looked for the right mind set. So we wanted younger, more entrepreneurial, hungry developers, men and women who really were not satisfied with a lot of the maintenance work they happens at big development organizations in India and then said were hungry to do real innovations.And then one of the other things we have done is we have let those folks travel quite a bit to the US. So it is very important to them to meet with customers, be on the front lines of solving for customer problem because that is a very different mindset and approach than sitting in a building all day and coding in abstract.ADVICE TO ENTREPRENEURS FROM RAJEEV GOELMartin: Imagine your little daughter comes to you and says, “Papi, I’d like to start a company”. What advice would you give her?Rajeev: So I think a couple of things. And I actually have two boys one is four and one is five so maybe they’ll do that one day.First thing is for successful companies, it is very rate that the initial idea is actually the successful idea 5, 10, 15 years on. So if you look at Facebook, if you look at Google, if you look at any company people deem as success the business model tends to change overtime. What typically doesn’t change is the space the team is operating in. So I think it is very important that entrepreneurs stay very open to iterating and listening to feedback from customers and the market on whether something is working or not working. That I think is very important. You have to be willing to challenge your own assumptions and change your model, change y our business, change the solution that you are bringing into the market as you get feedback that gets in.I think second a lot of companies focus from a teams perspective on the right outcomes with the people that they hire so hitting certain revenue targets or shipping certain products. I think that is of course important. I think it is also important to focus on the right behaviors among the team because as the business scales up the types of outcomes you are looking for will change from quarter to quarter and year to year but often times the behaviors you want from the team will be very consistent. And so I think it is really important to train those behaviors in and talk about those right behaviors from very, very early on so that there is an alignment and you don’t find that you have the pocket of the company that is behaving in a very different way than the rest of the company and that can create a significant challenge.Martin: Can you think of an example of what does that me an?Rajeev: Sure, from a behavior perspective you want to have a customer service orientation, meaning we come to work in the morning thinking about how do we make our customers business a better business. Now whatever the financial goals are or the new customer sign up goals are that will change from one quarter to the next or from one year to the next. But if that customer service orientation is important for your business you want to make sure that not only people on the front lines but people on the finance organization, people on the legal organization, people in the product and development organization, they also have that customer service orientation and that’s a known and valued thing inside the company because when you are 30 people it will certainly be important but it will be even more important when you are 300 or 3000 people and it is hard for the CEO or the founder to be talking to everybody inside of the business.And then I think maybe the third piece of advice would be to organize the company so that different teams or different employees are focused on different time horizons. So if you can have certain employees that are focused on this quarter of the next six months and some employees that are focused on one to two years what is happening, what are the key trends what are the things we need to be aware of and focused on, then you can, I think, build a very powerful company, where you don’t get surprised and changing the market and driving the market instead of having to react to the market.Martin: Good. Thank you so much, Rajeev, for your time.Rajeev: Thank you, Martin. It was a pleasure.Martin: And next time you are thinking about starting a company at some point you should think about your corporate values because they remain kind of stable overtime and they will have a big impact as your company grows.Martin: Great. Thank you so much.Rajeev: It was great.

Persuasive Essay - 1052 Words

Persuasive Essay Laziness in America By Greg Hill Comp 2 America today is a very lazy place; people have become too accustomed to their ways and will not even consider what it is doing to them. Everyone constantly praises our wonderful technology; what they don’t realize is what our tech has done to us. As we depend more and more on gadgets to do things for us we lose ourselves to apathy and our personal interests completely forgetting the common good. When it becomes so easy to satisfy our wants we totally forget about those that actually need help. We drive a car 5 miles instead of taking the bus, we use the microwave instead of cooking a meal, and we take the easy way out. This American laziness brought about by dependence on†¦show more content†¦Body Mass Index (BMI) is a measurement tool used to determine excess body weight. Overweight is defined as a BMI of 25 or more, obesity is 30 or more, and severe obesity is 40 or more. Overall the problem stems from the general citizens lack of work ethic; in recent years that ethic has declined severely. It is the inability or flat out unwillingness to work and/or struggle to get what you want. The table below highlights the increasing obesity problem. Increase in Prevalence (%) of Overweight (BMI 25), Obesity (BMI 30) and Severe Obesity (BMI 40) Among U.S. Adults. Overweight Obesity Severe Obesity (BMI 25) (BMI 30) (BMI 40) 1999 to 2000 64.5 30.5 4.7 1988 to 1994 56.0 23.0 2.9 1976 to 1980 46.0 14.4 No Data Source: CDC, National Center for Health Statistics, National Health and Nutrition Examination Survey. Health, United States, 2002. Flegal et. al. JAMA. 2002;288:1723-7. NIH, National Heart, Lung, and Blood Institute, Clinical Guidelines on the Identification, Evaluation and Treatment of Overweight and Obesity in Adults, 1998. The problem of laziness stems not just from a daily physical laziness but also from a spiritual lack. 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In essay one, I struggled with communicating the argument to the reader which was the main purpose of the essay. However, i also struggled with describing Pearce’s argument without using a lot of quotes in my essay. Before i revised essay one, it failed to help the reader understand Pearce’s argument and i received a grade of 62. I realized that my essay lacked argumentative purpose when you wroteRead MorePersuasive Essay On My Grandmothers Death733 Words   |  3 Pagesabundance of pain. When patients decide that this is their time, the nurses or doctors should not be held accountable for patients’ choices. Ultimately, this essay is tremendously educational. Also, the essay uses a strong tone, which is important. Models for Writers: Short Essays for Composition, states, â€Å"The diction and tone of an essay are subtle forces, but they exert a tremendous influence on readers† (Rosa and Esccholz 292). Tone is used by the author to make her story and point even strongerRead MorePersuasive Essay921 Words   |  4 PagesPersuasive Essay Raquel Daniel COMM/215 Essentials of College Writing July 7, 2011 Cassundra Flemister-White Persuasive Essay Gangs Gangs are killing our upcoming generations. Gangs have always been around for many years and they are still growing. They are becoming more violent now because they are using more than just their body parts to beat up people. These gangs are killing and raping people. It used to be about colors and different language but now it is about something differentRead MorePersuasive Essay - Persuasive Travel1121 Words   |  5 PagesPersuasive Travel Essay You just got the news that you won the lottery. What are you going to do? How about travel to a mystical, relaxing island? Bora Bora will have you hooked with its crystal clear water. I wish I could go back to this exquisite heaven where the sun is always shining. The warm welcome followed by the tropical, soft pink leis, is very inviting. Although often related to Hawaii, I can assure you this island is much better. From the culture to the landmarks, this island has it allRead MorePersuasive Essay804 Words   |  4 PagesPersuasive Essay In 1983, Raymond Carver introduced his short story â€Å"Cathedral† to the public. The first-person narrative takes place within the narrator’s home, where his wife is waiting upon the arrival of her blind friend Robert. The narrator, however, becomes more concerned about how Robert’s visit will affect him rather than enjoy the situation. Once Robert arrives, the narrator tries to understand the blind man, but he is unaware of what tasks Robert is capable of performing due to the narrator’sRead MorePersuasive Essay873 Words   |  4 PagesEvan Bennett November 4, 2010 Persuasive Essay Gay discrimination is a major problem that affects individuals all across the country. The Defense of Marriage Act needs to be repealed. First, the Defense against Marriage Act will be explained and then why it needs to be repealed, then the effects the law has on society. The federal government needs to give same sex couples the same health benefits that heterosexual couples receive. Currently, the government offers employees benefits such as healthRead MorePersuasive Essay795 Words   |  4 Pagesï » ¿ bcom/215 Persuasive Essay At least 11% of women smoke during pregnancy. Many of these women smoke without knowing the significant negative effects smoking has on their babies before, during, and after the pregnancy. When a woman smokes during pregnancy, she exposes her baby to dangerous chemicals such as tar, carbon monoxide, nicotine, and other poisonous chemicals that travels through the bloodstream and goes directly to the baby. 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Dolls House and Pygmalion Comparative Essay - 1758 Words

Comparative Essay on the Extreme Transition of Two Powerful Women Several years ago, men had little respect for women because of their gender. Females were not given the rights they deserve. They were controlled by their fathers, then handed straight over to their husbands. Henrik Ibsen’s A Doll’s House and Bernard Shaw’s Pygmalion have occurrences that show similarities between the two female protagonists, Nora Helmer and Eliza Doolittle. Nora and Eliza are comparable in several different ways because both go through experiences with powerful outcomes ultimately transforming their lives throughout the play. From the start both women are young and naà ¯ve. Torvald and Mr. Higgins completely controlled and take over both women’s lives by†¦show more content†¦Nora and Eliza are disrespected through the entire play by the men they are dependent on the most. Mr. Higgins and Torvald complete controls Eliza’s and Nora’s lives, giving them absolutely no freedom to live the life they deserve. Torvald and Nora do not have the typical husband and wife relationship. Torvald treats Nora how a protective father would treat his daughter, she considers herself a doll living in his doll house. Nora obeys everything Torvald says and he makes all of her decisions. Nora is always stuck in the house with absolutely nothing to do except play with the children. In the end of the play, Nora tells Torvald how she feels about the way he treats her. â€Å"I mean that I was simply handed over from Papa to you.† (A Doll’s House, pg 111) Torvald treats her exactly as her father did, and now that he is not around, Torvald finds it necessary to act as a father figure instead of a husband. Torvald gives Nora nicknames such as â€Å"little squirrel.† These names represent Nora’s false self. Torvald acts as if she is a small child that wants a pet name. After Torvald found out Nora borrowed the money from Krogstand, he went completely ballistic. â€Å"You’ve destroyed all my happiness, you’ve ruined my future . . . and I have to sink to such depths of agony all because of a thoughtless woman.† (Doll’s House, pg 105) Nora borrowed the money out of love to save her husband’s life, but he does not understand or take that into

Gauging The Causes Of Energy Insecurity Economics Essay Free Essays

string(288) " recent survey carried out in 2010 by the Institute Francias du Petrole \( IFP \) reveals the proven, possible probable and possible militias of oil around the universe and the Middle East remains dominant accounting for approximately 58 % of the universe proven militias of oil\[ 12 \]\." Introduction Numerous energy literatures written by academic research workers, every bit good as statements made by representatives of oil consuming and oil bring forthing states have indicated that the construct of energy security is an elusive 1. There has been varied definitions for energy security runing from uninterrupted oil supplies at ‘reasonable monetary values ‘ to physical security of energy installations from break and really late an add-on to the definition is the ability to run into energy demands while equilibrating the environmental concerns of clime alteration extenuation. The ensuing consequence of so many definitions of energy security is that the appraisal of energy security non so straightforward. We will write a custom essay sample on Gauging The Causes Of Energy Insecurity Economics Essay or any similar topic only for you Order Now Different states depending on their ain peculiar fortunes step energy security otherwise hence doing the construct ‘self functioning ‘ . Literature has nevertheless identified some generalized factors as being the constituents of energy security in any state. Factors including: diverseness of energy supplies, degree of imports ; security of trade flows ; energy geopolitics ; portion of one peculiar fuel in the fuel mix ; market/price volatility and energy dependability, have been identified as utile for understanding energy security in any state. Energy insecurity no matter the cause consequences in welfare loss to society. Of all the causes of energy insecurity none is as politicized, relentless and permeant as fossil fuel resource concentration. The challenge of dodo fuel concentration is obvious from geological facts that grounds the skewed spread of fossil fuel sedimentations in certain parts in the universe. The of import inquiries that this paper seeks to reply are ; What are the causes of Energy insecurity? Can we divide the physical handiness and monetary value constituent of energy insecurity? How does fossil fuel concentration affect each constituent above every bit good as the energy insecurity job in general? How do we economically assess the public assistance deductions of energy insecurity due to fossil fuel concentration on an economic system? A careful survey of the issues raised above has been undertaken and it is hoped that the replies supplied in this paper would supply a clear counsel for policy shaper ‘s on the energy security deduction of fossil fuel concentration. Chapter one introduces the paper. Chapter two discusses the energy security challenge while concentrating on the unjust distribution of fossil fuels and the impact of menaces and Acts of the Apostless of terrorist act on energy security. Chapter three focal points on the measurings of fossil fuel concentration get downing with the methodological model of Herfindahl Hirshman Index ( HHI ) and ends with the more practical method suggested by Levefre. Chapter four focal points on the instance surveies get downing with why the pick of Japan and USA while so utilizing already calculated indexes and IEA informations to measure the ESPI for each fuel and ESPAI for gas in the command to gauge the impact to energy security of dodo fuel resource concentration and a projection is made for these two indexs to 2030 based on IEA mention scenario. Finally, chapter five concludes the paper. THE ENERGY SECURITY CHALLENGE 2.1 WHAT CAUSES ENERGY INSECURITY? In the twenty-first century universe, many economic systems depend extremely on energy to drive industrialization and power their economic systems. The demand for fossil fuels ( oil, coal and natural gas ) in the modern car industry, power coevals, agribusiness, fabrication and virtually all facets of human life has made the handiness and regular ( uninterrupted ) supply of energy at low-cost monetary values a really of import policy end for most authoritiess[ 6 ]. However, since all states do non possess the same sum of resource sedimentations with their boundary lines, many states have had to trust on imports for run intoing their energy demands hence exposing such states to the menace of break in supply of energy as a consequence of the exogenic nature of supply. Furthermore, the menace of clime alteration and lifting temperature degrees has made the energy security challenge far more complex because it is no longer plenty pursue uninterrupted supply of energy but besides guarantee that it is done in an environmentally sustainable mode. Besides, the asymmetric spread of fossil fuel sedimentations in the universe has proven to be rather of import in the finding of fossil fuel trade good monetary values and the oil market in peculiar is peculiarly volatile as a consequence of this. This un-equal distribution of natural resources with the boundary lines of each state of the universe has created a planetary trade good market for oil, gas and coal but besides caused energy insecurity[ 7 ]. As pervading as the geo-politics of oil is, there is small research on the economic appraisal of energy security deduction of fossil fuel resource concentration due to the qualitative nature of political instability which has proven really hard to mensurate. This paper seeks to bridge this spread by supplying indexes that will capture the impact of political instability on monetary value and physical handiness constituents of energy security[ 8 ] 2.2 THE INEQUITABLE DISTRIBUTION OF ENERGY RESOURCES IEA ( 2009 ) reveals that fossil fuels together accounted for a sum of 81 % of the World primary energy demand in 2007. Oil demand is 33 % of entire and represents the largest portion with coal ( 27 % ) and Gas ( 21 % ) ranking 2nd and 3rd topographic point severally[ 9 ]. The inquiry now is what is the geographical distribution of these energy resources?[ 10 ]( See figure 1 below ) Harmonizing to Energy Information Agency ( EIA ) in 2005[ 11 ], the part that holds the universe ‘s largest proven militias of oil is the Middle East ( Approximately about 800billion barrels of proved militias of oil ) . In footings of proportion, over 65 % of the universes proven crude oil Militias are situated in the Middle East, approximately 78.2 % are located in Organisation of Petroleum Exporting Countries ( OPEC ) , 25 % are located in Saudi Arabia entirely and the Russian Federation histories for 5.7 % and is ranked as the following largest manufacturer outside OPEC ( See figure 2 below ) A more recent survey carried out in 2010 by the Institute Francias du Petrole ( IFP ) reveals the proven, possible probable and possible militias of oil around the universe and the Middle East remains dominant accounting for approximately 58 % of the universe proven militias of oil[ 12 ]. ( See figure 3 below ) A closer expression at the regional distribution of oil shows that 9 out of the 11 richest oil bring forthing states in the universe are located around the Caspian Sea Region a really volatile and conflict prone part marked by many wars and political instability[ 13 ]. The Chechenya struggle in Russia, the USA-Iraq invasion and the Niger delta agitation in Nigeria are some of the illustrations of such struggles to advert a few[ 14 ]. ( See figure 4 below ) . Natural gas militias are besides unevenly distributed by geographic part worldwide. From the figure below, most dominant part is the Middle East accounting for approximately 45 % of universes proved militias[ 15 ]. Until late due to transit restraints, the majority of gas had to be traded within the major geographical parts that possessed this resource. With the coming of LNG ( Liquefied Natural Gas ) , universe economic systems have witnessed the development of a truly planetary gas market. ( See figure 5 below ) The geographical distribution of coal militias nevertheless reveals a different image. Coal militias are reasonably equally distributed worldwide, but with a few dominant states Harmonizing to World Energy Council ( WEC ) study informations for about 70 states, One-third of coal militias is located in North America ( 29 % ) , dominated by the United States ; one-third in Eurasia ( 34 % ) , dominated by Russia, Ukraine, Kazakhstan and Serbia ; and one-third in Asia-Oceania ( 31 % ) , where the militias in China entirely are equal to the amount of the militias in India and Australia. Africa represents less than 5 % of the sum, with the majority of the coal wealth to be found in South Africa and South America holds merely 2 % of universe militias[ 16 ]. Proven militias of coal at year-end 2008 stood at an estimated 826 billion dozenss ( Gt ) , stand foring about 122 old ages of production at the current rate[ 17 ]. Regional production of coal nevertheless reveals the laterality of the Asia-pacific part ( 61 % ) with China and India playing a major function. North America produces 19 % ; Europe produces 14 % and the remainder of the universe ( 6 % )[ 18 ]. ( See figure 6 below ) 2.3 THREATS AND ENERGY INSECURITY The skewed distribution of dodo fuel militias ( oil in specific ) has led to a battalion of differences throughout clip and history. Today, about 30 % of current struggles ( wars ) have been straight linked to oil[ 20 ]. More late acts of terrorist act by Al-Qaeda and attached Jihadist group have been targeted at Middle East Oil[ 21 ]. In 2002, a Gallic oil oiler ( Limbourg ) off the Yemen Coast was attacked with a suicide boat filled with explosives. Al-Qaeda besides attacked the Saudi port of Yanbu in 2003-2004, killing five applied scientists from the Western World. In 2006, a failed effort to assail the Abqaiq refinery took topographic point. The existent impact of these menaces asides its existent consequence on the monetary value of oil, is on the investor assurance in the degree of security, effectivity of jurisprudence enforcement establishments every bit good as the credibleness of political governments in topographic point in this states. The chief impacts with these Acts of the Apostless of force and sabotage on oil and gas installations are the attendant crisp monetary value swings that occur as a direct effect of decrease in capacity. Measurements OF FOSSIL FUEL CONCENTRATION Methodology This starting point for mensurating the dodo fuel concentration ratio among parts is to mention to the work by Orris Herfindahl and Albert O. Hirshman[ 22 ]on the measuring of the grade of market concentration in an industry. 3.1.1 THE HERFINDAHL HIRSHMAN INDEX The Herfindahl Hirshman Index is slackly known the grade of market concentration or a measuring of the size of a steadfast relation to the industry[ 23 ]. It provides indicant of the degree of competition between houses in an industry. Let us presume, Si is the market portion of an ith house, and so the Index is estimated by: Where S2i = market portion of an ‘ith ‘ house ( normally expressed as a per centum N = the figure of houses in the market The HHI recognises both the comparative size of the house every bit good as the figure of houses in the market. The utility of HHI to gauge fossil fuel concentration, lies in the fact that in an industry the figure is known and a weight commensurate to the market portion house is attached to each house to the ith ‘ house which when substituted into the expression gives an indicant of the degree of fight of the industry. The maximal value for HHI is 10000 reflecting a monopoly state of affairs and the lowest value is zero ( 0 ) as the market moves towards a perfect completion state of affairs[ 24 ]. ( See Figure 7 below ) 3.2. MEASURING THE PRICE IMPLICATION OF RESOURCE CONCENTRATION[ 25 ] The monetary value deductions of fossil fuel resource concentration can be broken into two constituents. The first portion is the Energy Security Market Concentration ( ESMC ) which is the grade of market concentration in each planetary dodo fuel market. The ESMC gives an indicant of the ‘price hazard ‘ consequent to fossil fuel resource concentration. The 2nd portion is incorporated into an Energy Security Price Index ( ESPI ) that provides an appraisal of any given state ‘s degree of exposure to these monetary value hazards. The ESMC relies to a great extent on the work by Herfindhal Hirschman Index ( HHI ) , which is derived as the amount of the square of each market portion of all houses. Although, the planetary market for oil, coal, and gas market are considered individually, the providers ( market participants ) are assumed to be states instead than private houses. The ground for the focal point on states is because the authorities have control of the development of natural resources within their boundary lines. The inquiry of what the step of market portion should be used is besides really of import. Since unequal distribution of resources created the planetary market, the step of market portion of fossil fuels on ‘resources ‘ would be inappropriate. Market portion should non be based on production or exports but that excessively depends on monetary values and physical exports capacity. However, market portion based on net export seems good suited as it takes history of physical restrictions and the issue of whether states monetary value exports otherwise from domestic ingestion or non[ 26 ]. The ESMC for each dodo fuel type would hence be calculated utilizing the expression similar to the HHI and is given below: ESMC= a?‘ S2ifaˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦.. ( eqn 1 ) I Where Sif is the leaden portion of an single provider I in the planetary market for fuel degree Fahrenheit defined by its cyberspace export potency ( Sif varies from 0 to 100 ) . Valuess of ESMC vary from between 0, which suggests a close perfect competition state of affairs to 10,000 for a pure monopoly state of affairs. A fuel with a higher ESMC value implies a higher insecurity. Therefore since monetary value hazard is reflected in ESMC, the ‘price hazard calculated would be the same for any state. As a consequence, any state in the universe including Japan and the USA would confront the same monetary value hazards associated with resource concentration. In order to acquire a more accurate ESPI, some alterations has to be made on the ESMC to account for political instability. This is because political instability is important because fossil fuels as frequently geographically concentrated in politically sensitive parts like the Caspian Sea part for case which has been prone to many affraies. To account for political instability, the step of ESMC can be defined as ; ESMCpol= a?‘ ( ri * S2if ) aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦ ( eqn 2 ) I Where Rhode Island is the political evaluation for the state ‘i ‘ which in this survey is the World Banks administration index on political instability[ 27 ]. ESMCpol therefore scopes from 0 to 30,000 where 0 indicates a perfect competition among states with the highest degree of political stableness and 30,000 indicates a pure monopoly of a state with the worst degree of political stableness[ 28 ]. ESMCpol for coal, oil and gas that would be used to cipher ESPI in the instance surveies presented in chapter 4 will be adopted for Levefre ‘s ( 2009 ) work. ENERGY SECURITY PRICE INDEX ( ESPI ) After deducing the ESMC, the ESPI must so be estimated. The ESPI reflects the exposure of a given state to the monetary value hazards linked with resource concentration. The part of the state ‘s entire concluding primary energy supply exposed to each ESMCpol value must be calculated. The ESPI is hence calculated as ESPI= a?‘ ( ESMCpol~f * Ef/TPES ) aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦ ( eqn 3 ) F Where ESMCpol-f is the ESMCpol value for peculiar dodo fuel degree Fahrenheit, Ef is the state ‘s supply exposed to the ‘price hazard ‘ of fuel degree Fahrenheit, and TPES is the state ‘s Entire Primary Energy Supply[ 29 ]. ESPI ‘s values ranges from 0 to 15000[ 30 ] MEASURING PHYSICAL AVAILABILITY IMPLICATIONS OF RESOURCE CONCENTRATION ENERGY SECURITY PHYSICAL AVAILABILITY INDEX ( ESPAI ) The ESPAI is an Index which is relevant merely the gas market. In a state of affairs where the gas market is regulated, gas monetary values are non affected by the forces of demand and supply. Physical handiness hence becomes an of import security concern because demand is likely to transcend supply in a regulated government[ 31 ]. This is normally the instance in the European Union every bit good as Japan. In such state of affairss the flexibleness of gas substructures to suit strong on-peak demand determines the physical handiness hazard. During the winter months in early 2009, some parts of Europe experienced break in gas supply from Russia as a consequence of the Transit grapevine issue between Russia and Ukrain[ 32 ]. This is what happens when a state relies on merely one import grapevine for its domestic demands. Due to the comparative inflexibleness of grapevines, the physical handiness concerns are normally grapevine based imports of gas instead than LNG beginnings. The attack of measuring the ESPAI therefore is to gauge the portion of the state ‘s entire demand met by grapevine based gas imports procured through long term understandings as the ESPAI. The ESPAI can hence be expressed as ; ESPAI=Gasimp-pipe-regulated/TPES†¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ .. ( eqn 4 ) Where Gasimp-pipe-regulated is the supply of gas that is imported by grapevine based regulated contracts. ESPAI value ranges from 0 to 100. O is a state of affairs where there are no grapevine based imports ( LNG based imports ) or all purchases are made on competitory footings and 100 where the state is self sufficient in gas in the conjectural instance. The overall attack in this work with the inclusion of ESPAI is to mensurate the energy security deductions of fossil fuel concentration can be summarized as shown in Figure 8 below. WHY USA AND JAPAN? Oil is the lifeblood of the U.S. economic system[ 34 ]. America imports about 60 % of the oil it consumes, and harmonizing to 2005 estimations, approximately $ 680million is spent on oil imports per twenty-four hours[ 35 ]. Oil and natural gas monetary value additions in recent old ages has had a profound impact on U.S. concerns every bit good as on consumers in signifier of higher monetary values for goods[ 36 ]. However, since the U.S has the largest coal militias in the universe for any individual state, we shall non gauge and the ESPI for coal[ 37 ]. Japan is the 3rd largest consumer of fossil fuels in the universe but has its ain alone challenges. It is resource hapless and has to depend on imports for virtually all of it fossil fuel demands[ 38 ]. Figure 9 below shows Japans dependance on Middle East oil has grown from 73.2 % in 1973 to 86.4 % in 2007 with an all clip high of 89.9 % in 2006. Harmonizing to IEA, both states dependance on imported energy beginnings are really high. Japan ‘s energy imports rose from 81 % in 2005 to 96 % in 2006, an highly vulnerable energy supply construction[ 39 ]. America ‘s energy imports on the other manus rose from 29 % to 38 % between the same periods, a potentially vulnerable state of affairs. Beginning: IEA, Key Energy Statistics ( 2008 ) Development OF ESMC ( 2004 – 2030 ) In this subdivision, the attack detailed supra is applied to two OECD states, Japan and The United States of America ( U.S.A ) to measure the development of ESPI overtime. Country level informations gathered from IEA ( 2008 ) and projections from the World Economic Outlook ( 2008 ) mention scenario are used in the analysis[ 40 ]. ESMC[ 41 ]in the international oil market as estimated by Levefre is about 3700 in 2004 ( See Figure 12 ) , in the 2004 to 2010, ESMC drops somewhat before shiping on a uninterrupted rise to about 4800 in the 2004 to 2030 period stand foring an a 30 % addition between the 2004 to 2030 period[ 42 ]. 2030. The ESMCpol is about 8700 in 2004, and increases to about 11,400 by 2030. In the coal market, ESMC is about 1900 in 2004 and rises to 2300 by 2030 stand foring a 22 % growing ( See figure 13 below ) . ESMCpol is about 3000 in 2004, and rises to about 3700 in 2030, 62 % higher than ESMC. In the gas Market, the ESMC is about 2200 in a regionally constrained grapevine based gas market but when the displacement to a planetary gas market occurred, there was bead in ESMC value to shut to 1000 in 2010 and later increases to about 1100 by 2020 before making falling farther to 900 in 2030. ( See figure 13 ) ESMCpol is nevertheless 4800 in 2004, fell to1700 in 2030. Development OF ESPI JAPAN AND USA ( 2004 TO 2030 ) From figure 15 below, the development of Japan ‘s fuel mix from 1990 – 2030 shows the dominant function dodo fuels plays in the energy mix. By 2030, atomic portion would increase while fossil fuel portion would somewhat cut down. However, by 2030, Japan would still depend on fossil fuels for 80 % of its energy demands[ 43 ]. The fuel mix for the USA is similar to that of Japan bespeaking approximately 90 % dependance on fossil fuels in 2004 and falling to approximately 80 % in 2030 ( See figure 16 below )[ 44 ]. Consequences for the development of ESPI in Japan in presented in table 1 below. The ESI and the ESPAI are both based on informations collected from the IEA every bit good as assumed ESMCpol values from Levefre ( 2009 )[ 45 ] The get downing point was to gauge Ef for 2004 in Japan for all fuels ; it was found that Japan is extremely dependance on imports for its energy demands. The base old ages Ef was calculated and approximated so this computation was used to gauge an false Ef for the subsequent periods. For simpleness we would presume that 100 % of demand for oil is met through oil-indexed long-run contracts thereby exposing the entire oil demand to the oil market. Besides, we would presume 100 % exposure of coal to the market because it imports more coal than it presently domestically produces. While, it is 85 % exposed to the gas market due to the high dependance on LNG imports. For coal and oil, ESPI grew from 4133.51 to 6785.71 and 2640 to 3458 between the 2004 to 2030 period. Gas ESPI nevertheless fell from 4872 to 1433 could be due to a rapid development of the planetary market for gas. Due to the high dependance on oil in the USA, the Ef is besides calculated utilizing similar methods with Japan and for simpleness the false Ef is that the 100 % of demand for oil is met through oil-indexed long-run contracts thereby exposing the entire oil demand to the oil market. Besides, we would presume 5 % exposure of coal to the market because the USA has one of the largest coal militias in the universe. While, it is 20 % of gas demand is exposed to the gas market due to the LNG imports. For coal and oil, ESPI grew from 943 to 1293 and 27 to 87 between the 2004 to 2030 period. Like Japan, Gas ESPI besides fell from 118.40 to 93 in the period ( See table 2 above ) . Summarily, the ESPI fell from 11645 in 2004 to 9924 in 2015 and rose once more to 11678 in 2030 reflecting Japan is extremely vulnerable to Price hazards as a consequence of dodo fuel concentration. The ESPI for USA besides followed the same form although lower than that of Japan doing the USA besides vulnerable but in a better place than Japan. The value for ESPi ranges from 0 to 15000. The 2004-2030 period depicts a common tendency demoing the comparative importance of oil market hazard on energy security. The instance is more marked for Japan due to its energy hapless province. However the autumn in ESPI for gas reflects the demand to quickly heighten the development of the gas market. ( See figure 17 for the comparisons between Japan and USA ‘s ESPI ) ESPAI IN JAPAN AND USA ( 2004 ) Japan is the big natural gas consumer and must trust on imports for virtually all of its natural gas demands because its deficiencies international grapevine connexion. Today Japan is the largest importer of liquified natural gas ( LNG ) in the universe and presently histories for about 40 per centum of planetary LNG imports[ 47 ]. This makes it un-necessary to gauge the ESPAI because it has no grapevine contracts. ( See figure 18 below for top LNG importers in the universe ) The USA besides has limited trust on imports for its gas demands. In 2004, ESPAI is 0.1 picturing really low exposure to physical handiness of gas. ( See figure 19 ) Restriction OF THIS RESEARCH The WEO projections in the mention scenario is simply a projection of the hereafter and like any prognosis, it is capable to fluctuations therefore it must be noted that it is non an accurate prognosis of the hereafter. The major purpose of this work was to show how the attack detailed in subdivision 3 may work. However, for more formal analysis, a more accurate informations set should be used and a scenario based attack which would bring forth a sensitiveness analysis must besides be undertaken, which was non include in this survey Decision CAN ENERGY INSECURITY DUE TO FOSSIL FUEL CONCENTRATION BE REDUCED? The energy security challenge would go on to be a topical issue in economic, political and scientific arguments in the universe over. From the findings in this paper, the USA and Japan are presently in a vulnerable place with regard to energy security. They must therefore actively pursue policies that will better their current place. Although, fossil fuels concentration in surely creates exposure of to monetary value and physical handiness hazards, it is still unrealistic to propose an straight-out boycott of the planetary market. However, the current energy security state of affairs can still be improved in the average term every bit good as long term end by actively prosecuting variegation of their fuel blend off from fossil fuels to renewable energies that can be domestically produced[ 48 ]. How to cite Gauging The Causes Of Energy Insecurity Economics Essay, Essay examples

Spiritual Wellness Essay Example

Spiritual Wellness Essay What is spiritual wellness The key to my spiritual wellness consists of the following five characteristics. Family, which is an important aspect of my life. My family will always support me whether I am right or wrong. They appreciate my hard work to better myself and to better us as a family. Throughout my college journey, my family has made unlimited sacrifices to see me complete college successfully. My husband has paid a majority of our household bills as well as taken over the day to day responsibilities of our children. Without his support, I believe that the goals I have set would truly be harder to achieve. My children have been my motivation. I always want to be there for my children to express my parental love and to teach them the right ways of living. I did not want them to grow without the presence of their parents as was my case. I came from a broken home in which my father was absent until I was an adult. My mother married a man named Ron who raised me as his own since I was a small child. He was a very strict man, as I could not allow me to interact with boys. My stepfather ensured that I was forever busy as he kept me engaged in sports and extracurricular activities. With everything that he and my mother instilled in me, it laid a foundation for my future success. Spiritual health We will write a custom essay sample on Spiritual Wellness specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Spiritual Wellness specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Spiritual Wellness specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Friendship is another motivating factor that gives me enthusiasm and encouragement when I face life challenges. I respect and value my friends because they are my partners in arms in times of happiness and hardships and make my life meaningful. They give me momentum to continue the life journey whenever I feel like giving up. Since I was a young child, friendship has been a great pillar that revolves through my world. My friends have walked with me through thick and thin helping me overcome and cope with life situations. I realized that by interacting with people who have the same belief as mine I was able to succeed in many things. Such friends have my back whenever I need them and always share ideas with me. They have helped me to develop a virtue of loyalty and that is how I have been able to maintain the friendship. I can mirror myself through the help of my friends and so get challenged by the steps and choices that they make. Friendship is the most important key towards realizing my potential and making the right decisions. I learned to respect the different ideas they have and has helped me to view life from a different perspective. I have good judgment since friendship is a choice and not an optional reality. With my friends support, love, and affection I can view and establish the life structure that I would want to be in the future. Defining myself as an individual and joining a group to associate with others is the greatest step I have taken towards success. Leadership is an essential part of my life values that I treasure. Since I have a family, I want to show my children that they can look up to me for anything that they might need. I want to motivate and energize children to grow in a God fearing way. It is my responsibility to love my family and help them identify their potential by guiding and advising them to help them accomplish the best in life. Spiritual wellness examples I want my children to look up to me like my stepfather Ron did. Though he was strict, he laid a good foundation for me helping me to become a strong woman today. Being a parent has its ups and down, but I know taking responsibility of being a mother and a leader is one of the most valuable things I would have for my family and me. Security is a value that aspires to have in my life and that of my children. The values that we all have evolve, and we find ourselves maturing through some known stages of life. For us to feel that we have fulfilled both our souls and body, we need to be financially secure so that we can meet all the basic, secondary and tertiary needs. The security aspect would help me and my family to live comfortably. I have a family to take care of and for that reason security would be the most important aspect to consider. The security that I need covers a vast area including security of finance, security of my children and family is a great value since without it I cannot feel like a responsible parent and all the values I have tried to instill in my life would be lost. Security will enable me to realize my dreams, live in any location that suits and make me happy and give my family the best they would need. Striking a balance in my activities is another crucial aspect that determines my success. If I put effort into being the best parent, partner, friend and leader without striking a balance in each, I would not be able to deliver my full potential. Balancing every aspect of my life have been my dreams, and that include spending some time in my career and equally spending time with my family. Acknowledging priorities have been my greatest gifts and thats why I value family since they are my most treasurable gain, which makes me have the energy to grow intellectually and spiritually. What is a component of spiritual wellness Power is a value that I have for long considered insignificant, but it has been more prominent in my actions and decisions more than I ever imagined. I had considered this value to be irrelevant in my life, but most of the things that I do like in organizations and places of the meeting is making people recognize me and my expertise. I have noticed that I control and make people do things when I am in power and authority. The less value that I ignored seemed to take a whole toll on me since it is imminent that it is inside me; the ability to control and mobilize a crowd. I spent my life running from the value that defined the authority to me to rule and assign tasks. I focused on what mattered to me leaving what can make people realize that I am better when ruling and leaving a legacy. The aspects and art made in the revelation have made an official purpose to my life, and that is to find both career and life success. The main issue though is to find the missing pieces in my life and try to evaluate the stages of life that I must go through to have the spiritual fulfillment. I would try not to live in perfection but in acquiring knowledge and purpose of life. I would find out the value that makes me thrive in doing good and deciding to do good and not to harm others. All the aspects that I value will lead me to a spiritual fulfillment which will secure me from any disillusionment and unhappiness. I learned that the purpose of all the values is to take us through all the stages of life and it is up to us to make the right decisions on how much material recognition we will have and how much spiritual growth will be made. Our choice in occupation, life partners and friends should lead us to best rewards that would enable us to value our goals and purpose in life. The scenes that relate to me most is sharing of knowledge and values to my friends helping me to optimize on both the spiritual and material growth. I think making people aware of the plans that would improve their growth is the most recent scenes that have stricken me as important. Linking myself with individuals who recognize and respects my decisions will advance my progressions in the direction that we decide to choose.

History1 essays

History1 essays Most people in our society think of the Vietnam War as a tragedy, or a negative time in our history that was later viewed as a misstep. These comments are true and most-certainly conventional. However, does the average person realize how large of an impact it had on the men who fought? When questioned on the Vietnam War, it can be rightly assumed that many Americans would know that it lasted over a decade. Maybe even a few would know that over 14,000 U.S. troops were killed in 1968, alone, (Appy, 7). The reality is that factual information such as this can only take you so far. It is not until we feel the experience through personal accounts, do we fully understand the Vietnam War. Since the beginning of time the concept of war has had a negative connotation. Every war in United States history has been directly related to the brunt of the conflict, the front-line, the blood, the gore, and the mounting deaths. Vietnam never escaped, and will never escape from its horrifying side. Over the course of the Vietnam War nearly 45,000 men were labeled as K.I.A. (killed in action). In addition to the recorded number of deaths, tens of thousands of men are still considered to be missing in action, (Appy, 29). Today, thousands of books are filled with alleged tales of horror from the war. Among the most common were the U.S. accounts involving the resented Vietnamese villagers. We saw them. We saw people with legs hacked off... Disemboweling seemed to be a big thing. Literally pull a guys stomach open. But the sad part of it is, he doesnt die right away. Women...You know, the skys the limit. As gruesome as you can think of things to do, they would do. Schoolteachers were a favorite target, and unfortunately a lot of the schoolteachers were idealistic young women, (Santoli, 196) Individual acts of horror were incredibly common during the war for United States soldiers. Their hatred f...

Biography of Augusto Pinochet, Chiles Military Dictator

Biography of Augusto Pinochet, Chile's Military Dictator Augusto Pinochet (November 25, 1915–December 10, 2006) was an army officer and dictator of Chile from 1973 to 1990. His years in power were marked by inflation, poverty, and the ruthless repression of opposition leaders. Pinochet was involved in Operation Condor, a cooperative effort by several South American governments to remove leftist opposition leaders, often by murder. Several years after stepping down, he was charged with war crimes concerning his time as president but died in 2006 before being convicted on any charges. Fast Facts: Augusto Pinochet Known For: Dictator of ChileBorn: Nov. 25, 1915 in Valparaiso, ChileParents: Augusto Pinochet Vera, Avelina Ugarte MartinezDied: Dec. 10, 2006 in Santiago, ChileEducation: Chilean War AcademyPublished Works: The Crucial DaySpouse: Marà ­a  Lucà ­a  Hiriart  Rodrà ­guezChildren: Augusto Osvaldo, Jacqueline Marie, Lucà ­a, Marco Antonio, Marà ­a Verà ³nicaNotable Quote: Everything I did, all my actions, all of the problems I had I dedicate to God and to Chile, because I kept Chile from becoming Communist. Early Life Pinochet was born on Nov. 25, 1915, in Valparaiso, Chile to descendants of French settlers who had come to Chile more than a century before. His father was a middle-class government worker. The eldest of six children, Pinochet married Marà ­a  Lucà ­a  Hiriart  Rodrà ­guez in 1943 and they had five children. He entered Chilean War Academy when he turned 18  and graduated in four years as a sub-lieutenant. Military Career Begins Pinochet rose quickly through the ranks despite the fact that Chile was never at war during his military career. In fact, Pinochet never saw combat while he was in the military; the closest he came was as the commander of a detention camp for Chilean Communists. Pinochet lectured at the War Academy and wrote five  books on politics and warfare. By 1968, he was promoted to brigadier general. Pinochet and Allende In 1948, Pinochet met future President Salvador Allende, a young Chilean senator who was a socialist. Allende had come to visit the concentration camp then run by Pinochet, where many Chilean Communists were being held. In 1970, Allende was elected president, and he promoted Pinochet to be commander of the Santiago garrison. Over the next three years, Pinochet proved invaluable to Allende by helping put down opposition to Allende’s economic policies, which were devastating the nation’s economy. Allende promoted Pinochet to commander-in-chief of all Chilean armed forces in August 1973. The Coup of 1973 Allende, as it turned out, had made a grave mistake by putting his trust in Pinochet. With the people in the streets and the countrys economy in shambles, the military moved to take over the government. On Sept. 11, 1973, less than three weeks after he had been made the commander-in-chief, Pinochet directed his troops to take Santiago, the capital, and he ordered an airstrike on the presidential palace. Allende died defending the palace, and Pinochet was made part of a four-man ruling junta led by the commanders of the army, air force, police, and navy. Later, he seized absolute power. Operation Condor Pinochet and Chile were heavily involved in Operation Condor, a collaborative effort among the governments of Chile, Argentina, Brazil, Bolivia, Paraguay, and Uruguay to control leftist dissidents such as the MIR, or Movement of the Revolutionary Left, in Bolivia, and the Tupamaros, a band of Marxist revolutionaries that operated in Uruguay. The effort consisted mainly of a series of kidnappings, disappearances, and assassinations of prominent opponents of the right-wing regimes in those countries. The Chilean DINA, a feared secret police force, was one of the driving organizations behind the operation. It is unknown how many people were killed during Operation Condor, but most of the estimates range well into the thousands. The Economy Pinochet’s team of U.S.-educated economists, who were known as â€Å"the Chicago Boys,† advocated lowering taxes, selling state-run businesses, and encouraging foreign investment. These reforms led to sustained growth, prompting the phrase â€Å"The Miracle of Chile.† However, the reforms also led to a decline in wages and a spike in unemployment, and there was a severe recession from 1980 to 1983. Steps Down In 1988, a nationwide referendum on Pinochet resulted in a majority of the people voting to deny him another term as their president. Elections were held in 1989 and the opposition candidate, Christian Democrat  Patricio Aylwin, was victorious. However, Pinochet’s supporters continued to hold enough influence in the Chilean parliament to block many proposed reforms. Pinochet remained in office until Aylwin was installed as president on March 11, 1990, although as an ex-president he remained a senator for life. He also kept his position as commander-in-chief of the armed forces. Legal Troubles and Death Pinochet might have been out of the limelight, but the victims of Operation Condor did not forget about him. In October 1998, he was in the United Kingdom for medical reasons. Seizing upon his presence in a country with an extradition treaty, his opponents brought charges against him in a Spanish court in connection with the  torture  of Spanish citizens in Chile during his rule. He was charged with several counts of murder, torture, and kidnapping. The charges were dismissed in 2002 on the grounds that Pinochet, by then in his late 80s, was too unhealthy to stand trial. Further charges were brought against him in 2006, but Pinochet died on December 10 of that year in Santiago before the prosecution could proceed. Legacy   Many Chileans are divided on the topic of their former dictator. Some say they see him as a savior who rescued them from the socialist policies of Allende and who did what had to be done in a turbulent time to prevent anarchy and communism. They point to the growth of the economy under Pinochet and claim he was a patriot who loved his country. Others say he was a ruthless despot directly responsible for thousands of murders, in most cases for no more than thought crimes. They believe his economic success was not all it seemed because unemployment was high and wages were low during his rule. Regardless of these differing views, it is undeniable that Pinochet was one of the most important figures of the 20th century in South America. His involvement in Operation Condor made him the poster boy for violent dictatorship, and his actions led many in his country never to trust their government again.   Sources Dinges, John. The Condor Years: How Pinochet and His Allies Brought Terrorism to Three Continents. Paperback, Reprint edition, The New Press, June 1, 2005.ï » ¿The Editors of Encyclopedia Britannica (2018). Augusto Pinochet: President of Chile.