MONEY JULY 2016 ISSUE 37

BUSINESS | LIFESTYLE | DESIGN

THE RETAIL ISSUE ISSUE 37

START-UPS RETAIL TRENDS THE GENERATION Z CONSUMER

TERRORISM AND BUSINESS INTERVIEW:

ROBERTA METSOLA

1 - Money / Issue 37

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CONTENTS

WELCOME What makes us buy things? Is it the salesperson, who is so persuasive that in five minutes flat, we were convinced to exchange half of our salary with something that admittedly, we didn’t really need?

Or is it the display, an aspirational dream which we bought into? And then again, do we buy things because we need them or simply because we want them?

In this issue if Money, we focus on retail. Part science and part art, retail is what drives individual, national and world finance.

Over the centuries, retain has not changed function – yet the form has changed. One of the forms which, in recent years, has changed the face of retail is online shopping.

Veronica Stivala interviews MEPs Miriam Dalli and Roberta Metsola on the recent development, which saw Maltese businesses being able to access over 300 million potential customers in 189 countries, thanks to an agreement which will allow them to sell on giant online retailer Amazon.

Shoppers have also changed. Theo Dix and Chris Meilak argue how we are seeing the rise of the most complex shopper of all time: Generation Z. Teens born between 1997 and 2003 are digital natives and have tastes, expectations and attitudes which set them apart from other shoppers. Generation Z is the future shopper who will continue to change the way we consume.

Start-ups are generating plenty of noise and disruption. In this issue of Money, Jamie Iain Genovese meets with Reaqta CEO Alberto Pelliccione and Mightybox CEO Marvin Zammit to see how they took their ideas to market and monetised them.

Retail is aspirational – we want to have and to belong. And part of that aspiration is translated through retail displays. In this issue of Money, we interview Moe Krimat, Strategic Creative Director at Seen Displays, a creative retail display agency based in New York and London. Moe tells us how retail displays aim to create an environment that retains someone’s undivided attention. When this attention is undivided, consumers achieve a heightened sense of comfort which leads to further trust in a brand’s products.

In this issue of Money, we also travel to Tanzania, lay a spread of wonderful gifts – this being the retail issue, we couldn’t resist – and analyse market movements.

Read on and enjoy.

Editor Anthony P. Bernard anthony@moneymag.me Consulting Editor Stanley Borg stanley@moneymag.me Design Peresso Design Studio peresso.webflow.io Printing Print It Distribution Mailbox Direct Marketing Group

THE RETAIL ISSUE

JULY 2016

8 ENTERING (THE) AMAZON

Maltese businesses now have access to over 300 million potential customers in 189 countries thanks to an agreement that will allow them to sell on Amazon. But what are the real implications of this? Veronica Stivala speaks to MEPs Miriam Dalli and Roberta Metsola.

13 THE RISK OF TERRORISM

What is the economic impact of terrorism, Patrick J O’ Brien asks.

18 RISK, FAIL AND START AGAIN

In the last issue of Money, Jamie Iain Genovese’s start-up focus generated plenty of noise. You asked for more – so here it is, in the form of an interview with Reaqta CEO Alberto Pelliccione and Mightybox CEO Marvin Zammit.

22 THE DAWN OF GENERATION Z

What if the next big disruptor isn’t a what, but a who, ask Theo Dix and Chris Meilak.

24 A WINDOW ON SHOPPING

What are the trends that are shaping the future of shopping?

26 SHOPPING ON SHOW

Retail displays deliver compelling consumer experiences and commercial value for brands, Moe Krimat says.

Hand delivered to businesses in Malta, all 5 Star Hotels including their business centres, executive lounges and rooms (where allowed), Maltese Embassies abroad (UK, Rome, Brussels, Moscow and Libya), some Government institutions and all ministries For information regarding promotion and advertising call Tel: 00 356 2134 2155, 2131 4719 Email: hello@moneymag.me

31 LET’S WORK TOGETHER

Through networking, we can achieve more together than each of us can do on our own, Andy Lopata says.

37 WHEN CHANGE IS NOT WELCOME

Alexander Mangion outlines the market’s approach to the US elections.

40 PEACETIME IN COLOMBIA

After decades of war, there is finally peace in Colombia. But will the truce hold?

42 TAKE A BOW

Classical violinist and model Charlie Siem pulls the strings on music and fashion.

52 THE HEAT IS ON

Keep cool and carry on with Money’s hot gifts.

55 SLEEPLESS IN THE SERENGETI Tanzania’s jewel in the crown keeps Mona Farrugia awake.

58 OUT IN THE COLD

Following Britain’s vote to leave the EU, the morning-after feeling was quick to sink in. it should be a lesson for the US, the Bluesman says.

Dr Roberta Metsola.

Photo by Jamie Iain Genovese

Money is published by BE Communications Ltd, No. 81, Howard Street, Sliema, Malta SLM 1754 All rights reserved. Reproduction in whole or in part is strictly prohibited without written permission. Opinions expressed in Money are not necessarily those of the editor or publisher. All reasonable care is taken to ensure truth and accuracy, but the editor and publishers cannot be held responsible for errors or omissions in articles, advertising, photographs or illustrations. Unsolicited manuscripts are welcome but cannot be returned without a stamped, self-addressed envelope. The editor is not responsible for material submitted for consideration.

4 - Money / Issue 37

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Entering (the) Amazon Maltese businesses now have access to over 300 million potential customers in 189 countries thanks to an agreement that will allow them to sell on Amazon. But what are the real implications of this? Veronica Stivala speaks to MEPs Miriam Dalli and Roberta Metsola.

L

ast April, it was announced that retailers in Malta could sell their products on Amazon, the world’s largest retailer and e-commerce platform, which hosts over two million active sellers and gives retailers access to over 300 million people in 189 countries.

Brought about thanks to discussions between the Malta Communications Authority and Amazon, the development is hoped to help boost local business.

In addition to the huge customer platform, businesses selling on Amazon also have access to security and fraud protection as well as powerful reporting tools to monitor their online presence.

This change is timely because, as MEP Roberta Metsola puts it, “It is clear that Maltese and Gozitan businesses, and consumers, have often not felt the full benefits of having a digital single European market, be it because transport or postage costs are kept unfairly high or because bigger multi-national online platforms did

8 - Money / Issue 37

not adequately cater for a small island economy like Malta.”

She goes on to note how being an enterprise online is no longer a novelty, and is practically a necessity. Both MEPs Miriam Dalli and Metsola have endorsed the change. But are local businesses entirely ready to enter the online international market?

Dr Metsola paints a clear picture of the local reality, noting how the statistics at hand show diverging results. While Maltese enterprises have embraced the use of internet, the majority do not sell their goods online. On the other hand, she notes, Maltese consumers are buying goods online but mainly using foreign and not Maltese online retailers.

“The positive side of it is that our enterprises are still performing better than their peers in the other EU member states.”

Notwithstanding these mixed results, Dr Metsola has no doubt that Maltese

businesses are able to enter the online market successfully.

Similarly, Dr Dalli notes that, “The reality is that we have entrepreneurs and SMEs who are willing to sell online. These are people who need no hand-holding but only ask for help when needed,” she notes.

Dr Dalli speaks highly of the energy so many business people have: “The will and determination of some of our SMEs and entrepreneurs from various different sectors never ceases to amaze me. For most, coming from a small island is not a limitation and they are willing to overcome all barriers to succeed.”

Both MEPs affirm how they did their utmost to help local businesses. Dr Dalli cites a touching case whereby she was contacted by a Maltese female entrepreneur who, being a mother of three autistic children, created autism-related tools. “She was the one who first reached out to me and asked for my help to unblock the problems she was facing when trying to sell on the Amazon platform,” reveals Dr Dalli.

More retailers who were finding themselves up against a similar brick wall and who wanted access to a much bigger market than they actually had also contacted the MEP. Together with her team, she got in touch with Amazon representatives in Brussels, and they worked together to address the issue, in collaboration with the Ministry for the Economy.

Dr Metsola is refreshingly honest when

“We need to offer financial incentives for businesses to take up the digital challenge and start selling their products online” Dr Roberta Metsola

she admits that, “Of course, politicians like to take credit all the time and while we may have helped push forward a solution, it is the small business owners who spent huge amounts of time and money trying to fight themselves, who deserve praise. They fought on behalf of all businesses in Malta and Gozo.”

The MEPs concur that more needs to be done. As Dr Metsola observes, going online is fast becoming the only choice for businesses and many need to adapt their business models to this reality.

“We need to offer financial incentives for businesses to take up the digital challenge and start selling their products online and promote

the domestic online retail market in order to increase the take-up of Maltese customers,” stresses Dr Metsola.

“We cannot change the size of our market or our location in Europe, but we can do more in bringing down those barriers so that we can to make sure that Maltese businesses are granted a level playing field with everyone else,” she notes, adding how, “In this respect, the Maltese EU Presidency is a perfect time to communicate our businesses concerns and allow us to set the agenda.”

So what is the next step forward for local businesses to continue to grow on the international online market?

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ONLINE

The first step is for businesses to see this as an opportunity and not a threat, notes Dr Metsola.

“Being part of major online e-commerce portals helps in tapping this business potential.”

However, she notes how other factors come into play such as name recognition and having a structured way on how to deal with this business potential. She concedes how it is not always so straightforward.

“Online business is not too dissimilar from your traditional business: having the right product or the right online portal is not enough if what’s on offer is not visible enough,” she notes, stressing how “We need to work together to ensure that Maltese products are well placed and can be found online too”.

Maltese businesses should look into establishing more partnerships and business ventures with other European and foreign companies, notes Dr Metsola, underlining how MEPs can help facilitate that.

Dr Dalli stresses the importance of education, noting how the General Retailers and Traders

10 - Money / Issue 37

Union recently emphasised for education that targets entrepreneurs. She goes on to list the importance of knowledge about online strategies, having an attractive, efficient business website as well as sound knowledge about costs, speed, and reliability of shipping services to the niche countries particularly for those companies selling physical products.

This means, Dr Dalli says, that further initiatives need to be addressed on a national level like incentivising investment to enhance international sales capabilities and addressing the pertinent issue of postage fees for example.

“On a European level we need to continue focusing on the issue of geo-blocking and also on the need to tackle unfair competition and cross-border distortions,” she comments.

So how are the MEPs working to help local businesses grow on the international online market?

Dr Metsola points out how her job is to try and make things easier. “Most businesses do not want hand-outs but they want the right

conditions in which they can compete, grow and employ more people. The unnecessary bureaucracy and red tape in setting up crossborder businesses if often a deterrent and we need to work harder to reduce it,” she says.

As an MEP, she has regular meetings with European and national business representatives in order to be of assistance to local businesses in their attempt to access the international online market.

“My door is always open whether it is advice for start-ups, accessing EU funds or helping established companies navigate through the excessive ‘Brussels red-tape’,” she says.

Dr Metsola also supports networking events being organised in Europe to the attention of domestic enterprises as a way for Maltese entrepreneurs to meet their European counterparts and also meet foreign investors.

But, she stresses, her main job is as a legislator.

“I am paid to be a law-maker and in that respect I try to discuss issues of concern with

AWARDING TALENT

“On a European level we need to continue focusing on the issue of geo-blocking and also on the need to tackle unfair competition and crossborder distortions” Dr Miriam Dalli interested parties as soon as a legislative proposal is issued and try to influence the outcome before it is too late.”

Dr Dalli draws attention to her policy paper on young entrepreneurs as her first step in an issue which is constantly evolving. This was followed by an initiative she organised where local businesses had the opportunity to speak directly to Commissioner Elizbieta Bienkowska on the EU related issues they were facing.

“I am committed to tackling any issue I am made aware of and where I can help,” she comments, adding how she believes “businesses require hands-on involvement and that is what I intend to continue doing”.

Both MEPs are clearly motivated in helping drive local business forward. There is still more to be done, but the combination of equally driven MEPs and businesses people bodes well.

DEX Workspaces, in collaboration with Vitra and the Society of Architecture and Civil Engineering Students (SACES) Malta, has launched a photographic competition open to teams made up of undergraduate students reading for a degree in architecture and civil engineering at the University of Malta. The two teams who submitted the best pictures – as determined by public vote and a panel of judges from Vitra – have received a set of stunning Vitra wall clocks and a set of Vitra miniatures.

The competition was open to architecture students from all years who are currently studying at the University of Malta.

Ten teams of three students each were chosen for entry in the competition by SACES and each team was given an iconic Vitra chair, which was the main subject of their photographs.

The participating teams were briefed about the competition rules and then given two weeks to take a photograph of

the chair in a scene that relates to one of the following themes: architecture, landscape, animals, objects, abandoned buildings and people.

Two winning photographs were selected, one by the public through voting on Facebook, and a second picture by a group of judges from Vitra.

The winning teams were the ones that achieves the highest number of points by earning likes and shares on Facebook, and the one that is deemed by the judges to have captured the best photograph in terms of relevance to the theme chosen, originality of the composition, and technical mastery. The prize was presented to each member of the winning teams

by Christine Gingell, Vivendo Group Marketing Manager. A certificate of participation was also presented to all teams. The exhibition of these works can be viewed until August at Ideacasa, Msida Valley Road, Birkirkara or online at fb.com/DexWorkspaces.

11 - Money / Issue 37

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NEWS

THE RISK OF TERRORISM

What is the economic impact of terrorism, Patrick J O’ Brien asks.

F

or many, even to discuss the impact on an economy, let alone financial markets, of a tragedy such as the recent terrorist attacks in Munich, Nice and Florida is in poor taste.

There is an argument that there is economics of everything, so why not an economics of terrorism, as terrorist attacks and thwarted plots regularly dominate the daily news headlines.

Terrorists have inflicted enough damage in enough places during the past years for economists to credibly evaluate how terrorism has affected economic activity today.

Financial markets have been remarkably buoyant though in the face of the latest tragedies in Europe. Investors may be learning from previous experiences. The economic impact of an attack like 9/11 most closely resemble that of a natural disaster, in which the shock of sudden losses are followed by the stimulus of rebuilding. GDP growth may have been

reduced in the US that year by half a percentage point but they recovered from all losses within a month. For example, in July 2005, when suicide bombers attacked the London transport network, the UK market recovered within days and British GDP rose 0.8 per cent that quarter.

The attacks do cause a mild disruption to economic life. People may decide not to visit the site of a terrorist attack for a

few days. But this generally means they postpone their consumption rather than abandon it – economic activity is simply shifted from one period to the next.

Clearly, there can be occasions when terrorism has a much bigger impact. If an economy is especially dependent on overseas tourism like Tunisia, Egypt, Turkey and even Malta, the risk is that holidaymakers will switch to other, safer,

13 - Money / Issue 37

NEWS

“THE FINANCIAL RAMIFICATIONS OF A TERRORIST ATTACK CAN BE SHORT-LIVED”

destinations. This is especially true if they are just visiting for the sunshine, rather than because of broader cultural links.

Europeans still flock to the US for holidays, even though American guns kill far more people than terrorism because they are familiar with the country and do not feel threatened. Experienced investors have learned that, unlike the human toll, the financial ramifications of a terrorist attack can be short-lived. While travel and tourism related stocks like airlines, booking sites and cruise line operators reel across global

14 - Money / Issue 37

markets the downturn is common and typically transitory.

Most discussions of terrorism today are concerned with counter-terrorism and the objectives and tactics of terrorist groups, whereas less attention is generally paid to thinking about the impact of terrorist attacks on targeted societies.

The focus on counter-terrorism is understandable given the emphasis placed by politicians and the general public on preventing terrorist attacks. We are,

however, unlikely to completely eliminate terrorism, a type of political violence whose history dates back thousands of years. We are all wearily familiar with the security measures at airports, the economic cost, in terms of time wasted in queues, is hard to calculate.

What if Europe decided to abolish the Schengen area and institute border controls? The result would be long lines of cars at European borders. The disruption would be substantial one reason why they won’t do it.

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NEWS

The modest reaction of markets today suggests investors are reasonably confident that these bad effects will not occur, that Munich 2016 will just be another in a list of brutal tragedies, like Madrid in 2004 and London in 2005.

Horrible but still thankfully rare. Understanding social resilience has important implications for how we think about terrorism and how we deal with it. It may even ultimately help us to win the ‘war on terror’ that we are currently engaged in not because we stop all terrorist attacks (perhaps an impossibility), but because we are not greatly affected by them.

16 - Money / Issue 37

Unfortunately for financial markets, the threat of terrorism is an example of a risk that cannot be quantified and priced in to asset values. It is, therefore, not surprising that European financial markets did not really move following the recent

terrorists attacks. They may do so, however, with a vengeance in response to a future bad decision by European leaders. In the end, terrorism remains overwhelmingly a threat to human lives, not to the economy.

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START-UPS

RISK, FAIL AND START AGAIN In the last issue of Money, Jamie Iain Genovese’s start-up focus generated plenty of noise. You asked for more – so here it is, in the form of an interview with Reaqta CEO Alberto Pelliccione and Mightybox CEO Marvin Zammit.

Photos by Jamie Iain Genovese

MARVIN ZAMMIT Who is Marvin Zammit?

After my post-graduate degree in physics, I began work in an engineering firm, which developed electronics for the automotive industry. I stayed there for over 13 years, after which I needed a change. I’ve always been very interested in electronics and software development, and I’ve also been a video game and board game enthusiast for most of my life, so when I had the opportunity to work in this industry, I was eager to try it out.

Have you always been attracted to business?

It depends on what you mean by business. The running of the company and financials are to me just the tools that allow us to carry on doing what we do. They are not what drives me.

On the other hand, the creation of innovative products, the connection with target audience and customers, and the growth and evolution of a company from a small team, are all things that I have a passion for.

Did you ever plan to start your own company?

I always had a vague interest in entrepreneurship, but I used to love the technical aspect of my job so I never had the incentive to go out of my way and start my own business. As I progressed in my career I was inevitably drawn into more managerial roles, which also opened my mind to different aspects of business and its development. In addition funding opportunities grew and this opened up new avenues to start a business.

What inspired you to set up Mightybox?

A few years ago, a friend of mine, being an academic in game analysis, had come across an opportunity for the development of a game intended for new game dev teams, that is, groups of individuals from outside of the game industry. He spoke of this idea

18 - Money / Issue 37

Marvin Zammit

to me and to a few other friends who could contribute. We were all very interested and eagerly started planning for it. We organised ourselves so that we could take this project on as an endeavour on a part-time basis, since we all had day jobs at the time.

The project fell through and was cancelled, but we had set our mind to developing games, so we decided to take on our own project. We started developing Will Love Tear Us Apart?, our first game which was an adaptation of the Joy Division song into a game. It was a novel idea that went very well and got picked up by the international press. It showed us that we could do well in this industry, and hence we started working towards building the team into a fullyfledged business.

When did you first feel that the company could stand on its own two legs?

We first set out to make a video game set in a post-apocalyptic world. We fleshed out the narrative behind it, the events that led up to the apocalypse, the key players, and what happened after that. There was a lot of work done and we had just started working on the actual game development. But we weren’t sure how well our world would be received. These days zombie games, movies and books are a dime a dozen.

True, our creation isn’t a zombie apocalypse – rather the primary antagonists of humanity (apart from itself) are genetically modified humans who have evolved into mutants. The feel of the world was quite different than zombies, but we were curious as to how this would be received.

So we decided to publish a board game set in the same world, to have some market feedback. That was a lot of work but still, less than that required to finish the video game version. We found an experienced co-publisher in the US who has its own distribution network, and we launched a Kickstarter campaign to fund the printing.

The campaign was an overwhelming success, making over $340,000 from the target $27,000 we were asking for. That moment confirmed to us that we can compete in the international market. We have then renewed our efforts to work on the digital version of the game, which we’ve called Posthuman: Sanctuary.

Any stressful, hair-pulling times?

There have been several of those and there still are. We’ve had a rough time when the artist who was working on the Posthuman board game had some health issues and had to abandon the project. Finding a replacement who could continue in the same style in order to maintain visual integrity, and also keep working on the digital game, was very difficult, to say the least. It was a stressful time when deadlines were closing in, money was running out and production of illustrations ground to a halt.

Luckily we managed to find a brilliant illustrator within our budget and pulled it off smoothly.

The Kickstarter campaign itself was also quite stressful – its success had caught us unprepared, and all the campaign stretch goals that we had prepared were used within a couple of days. We spent the rest of the campaign

frantically coming up with new things to offer, testing them, liaising with manufacturers to verify their costs were feasible.

Is there enough support, in the form of venture capitalists and angel money?

We had a couple of contacts who were interested in investing in the company, but when we started out we had focused on a number of government grants to apply for and set the business up from those. We were successful in securing these funds, and therefore we didn’t need investors for the first stage.

Venture capitalist investment usually comes in at a later stage – our stage is now more in the angel investment sector. However, for us it is difficult to get investor financing. Usually such investors are interested in companies that have a product which solves a problem – these companies usually provide one primary product or service and possibly offer various flavours of it. Investors can judge whether such a company is worth investing in by their vision of how the market will react to that product.

For a game development company this is not the case. We can approach investors and show them our plans and projects, but until a

studio has a solid track record of games which are commercially successful, it is very difficult to gauge how well these projects will fare in the market. Trends, platforms, distribution platforms and monetisation strategies change constantly in video games, which makes it a risky business for an investor unless the studio has a track record.

Having said that, we did find investors who were willing to invest in us, and if we make the effort I’m sure we will again.

What would you change in Malta’s work and business culture?

A lot is changing in Malta’s business culture.

There are a good number of start-up companies that are being formed, and the mentality of getting a permanent job – whatever that may mean in today’s economy – is doing a healthy but slow retreat from the newer generations’ mindset.

We could also improve in our inclusion policies at work, though there are several steps being made in the right direction. Government needs to work more in supporting young entrepreneurs – over the past decade there has been a marked increase in government incentives, but the legal framework for start-up

“THE CAMPAIGN WAS AN OVERWHELMING SUCCESS, MAKING OVER $340,000 FROM THE TARGET $27,000 WE WERE ASKING FOR” financing still has to be developed further. I’d like to see less new employment in the public sector and more entrepreneurship.

What do you love about what you do?

There’s nothing better than doing something you love. Developing games is very challenging – there’s a technical aspect to it and also a creative element which is less measurable. I like our products, but I also like the way our studio is growing. Every day there’s a new challenge to overcome, but that’s not a bad thing.

One of my favourite things is the enthusiasm of people who become fans of your product.

It’s very gratifying to see your product so passionately loved by people.

ALBERTO PELLICCIONE

Alberto Pelliccione

Who is Alberto Pelliccione?

I was born in a small town called L’Aquila, in Italy. When still very young I grew fond of tech like electronics, radios and later computers – this curiosity naturally developed in the desire to becom3e an active part of that world, possibly a contributor, and here I am at the helm of Reaqta, a growing and very high-tech cybersecurity start-up.

What inspired you to set up Reaqta?

I worked for a very long time in the intelligence sector, a fascinating environment, invisible to most people, where everything is shrouded in secrecy. As appealing as it was to be a part of that world, it was also clear that the tech world was about to burst thanks to the second dawn of artificial intelligence. So I had a choice to make: stand there and watch from aside or try to become part of it. I chose the second.

Have you always been attracted to business?

In the strict sense not always, just because money is not a primary driver for me. I started to be attracted to business only when I found that it was the natural by-product of a passion. I don’t want to state the obvious here, although it’s true that if you love doing something, you’ll end up doing it very well and someone else will inevitably love it too.

Artificial intelligence is a topic I’ve been deeply involved with since I was really young, and together with some of the brightest talents gathered from my community we created Reaqta.

Did you ever plan to start your own company?

Back in 1997-8, just a teenager, I created what became one of the biggest European tech communities in my sector – recently rebranded as cybersecurity. That was a first start-up attempt, so in a way or another running my own company was a desire I had even before consciously knowing it.

When did you first feel that the company could stand on its own two legs?

Our research and development stage has been long and brutal so when we got the first call from a very important customer who told us we just saved them from a sophisticated attack aimed at stealing their research, we were very happy. More importantly we had a real-life validation of our technology and a proof that it was working beyond expectations in an uncontrolled environment. Fortunately, we keep getting these validations on a constant basis now and this is a powerful driver for all of us.

19 - Money / Issue 37

START-UPS Interview

Any stressful, hair-pulling times?

To quote somebody wiser than me: “If you don’t test it, it won’t work.” This is an important teaching point but at the same time how do you battle-test something without going on the field? You can’t and that’s when you have to be ready for the unexpected.

Our first pilot on a real customer was a bit of a disaster – we completely locked up some of the machines used by their employees. They were really patient but we were terrified – in B2B each customer is precious and you rarely get a second chance. Behind the scenes we worked non-stop to solve the issue. In the end they were very happy with the results, the employees were happy since they could take a day off, the CEO was a little bit less enthusiastic but in the end everything worked out well. It never happened again. Lesson learned: expect the unexpected and create a contingency plan to deal with it.

Is there enough support, in the form of venture capitalists and angel money?

Angels are private investors willing to risk some of their wealth for an idea they think might take off. Venture capitals are organisations whose primary business is to help companies grow and then cash out.

They usually come in at different stages, the angels first and then the venture capitalists.

Of course they contribute in very different ways. Considering how expensive research and development time are in our sector, I’m sure we couldn’t have made it without the trust and support of our angels. Getting angel money, fortunately, wasn’t too hard and it allowed us to turn our ideas into a real thing.

Venture capitalists are a completely different beast and in a way it’s like dating: intense and stressful but essential nonetheless. You must be ready to be rejected for the most disparate reasons, and sometimes you have to say no because something doesn’t sound right.

Right now we are at the dating table and our potential partners range from mid-sized venture capitalists up to one of the world’s largest tech company. It will be intense but hopefully we will end up with a good match capable of providing value beyond money.

Would you launch a start-up in Malta?

Malta has a lot of potential to become an important start-up hub, if all the ingredients are mixed well, especially in certain sectors. The betting and gaming industry are creating a lot of jobs and several high profile talents are flying here to fill the increasing demand. Add to that a favourable taxation system and you have a recipe for success.

The main short-term challenge is to retain those talents – this means competing with high profile companies in continental Europe both in terms

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of salaries and quality of life, so what the island has to offer becomes an important factor.

The second challenge will be to make such a system sustainable: taxation cannot be only the attractive factor in the long-term. Access to capital, resources and infrastructures tend to become more important on the long run, especially if there is a desire to differentiate the type of businesses. In our case we suffered from a lack of talents in the security sector – that is far from surprising, I think Reaqta is the only next-gen cybersecurity company in Malta – and for this reason we will soon be opening a branch abroad to add workforce to our research and development.

What would you change in Malta’s work and business culture?

Risk. As a European I believe we have an attitude that is still very conservative, even though especially in northern Europe this is changing. It’s not possible to create a transformational business without challenging the status quo and there cannot be great innovations without taking risks, both from young entrepreneurs and investors.

Countries like the US and Israel foster a very risk-prone mentality, investors constantly encourage entrepreneurs to take risks and accept failure as a physiological condition of the innovation process. I personally don’t

believe we can create – and export – market disruptors without risking to do the wrong thing. After all history teaches us that success often is an iterative process and the iterations are full of failures.

Of course in modern times Elon Musk comes to mind, but there are literally thousands of other visionaries who risked everything for their ideas, only to succeed at their nth attempt.

What do you love about what you do?

Running or working in a start-up is something that clearly takes a heavy toll on you, but when it pays, it’s usually on the long term. Without passion and a supportive team, it’s impossible to survive – the real impact of this is not really clear until you live it though.

Waking up every morning eager to try new ideas, after throwing away the bad ones from the day before, is a gift that is not granted to everybody and that would probably be impossible to get in different contexts. I’m lucky to be born with such a hardwired curiosity and passion, and I love when I see the same in everyone that’s involved in the start-up scene.

There’s surely a craziness factor here: you’re working against the odds, so it’s a little bit like being in love with an idea that every now and then slaps you right in the face, seemingly for no reason at all. You have to be a bit crazy to choose this path.

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RETAIL

THE DAWN OF GENERATION Z What if the next big disruptor isn’t a what, but a who, ask Theo Dix and Chris Meilak.

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onsumer expectations have forever changed due to the rise of digital, especially with the introduction of mobile buying capabilities. In today’s world, consumers can purchase nearly anything they want, any time. The experience consumers have in shopping, buying and the activities that follow are now as much as a differentiator than the product itself. Personal, one-on-one experiences, or micro-experiences, that uniquely maximise all customer touch points, are the basis for building trust and customer loyalty. This is also where many of today’s retailers, including in Malta, continue to fall short.

The large size and growing purchasing power of millennials – people born between 1980 and 1996 – has led many organisations to focus considerable time and resources on attracting and adapting to this young, creative and tech-savvy generation of consumers and workers.

But a new generation is already coming of age: Generation Z, the most complex shopper of all time. Teens born between 1997-2003 are the true digital natives, raised with the internet at their fingertips and in their pockets. They have grown up within a unique social, economic and political setting, and under a different parenting style than their predecessors. Increasingly, they are being recognised as having tastes, attitudes and expectations that set them apart.

If the information Gen Z wants isn’t easily and immediately available, they aren’t likely to look to other sources. The majority of Gen Z

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and millennials place little value on the ability to interact with experts, whether in store or online through chat. This is especially true of Gen Z, the most self-educated generation in history. They are well equipped with plentiful self-service tools to research and identify product details and service offers that best suit their needs. As some Maltese retailers have quickly realised, what they do value are brands and retailers who relate to their needs, thereby providing them with a unique, personalised micro-experience.

Utilising data to better understand customers and create experiences is how the technology unlocks our understanding of Gen. It will make them part of the solution, help to anticipate their needs and build respect and loyalty, which they crave from brands.

millennials want a great price and are more likely than Gen Z to respond to both traditional and digital price messaging.

Gen Z is the most willing to surrender personal data, albeit on the assumption of a value exchange. Utilising data to better understand customers and create experiences is how the technology unlocks our understanding of Gen Z. It will make them part of the solution, help to anticipate their needs and build respect and loyalty, which they crave from brands. Retail leaders will take advantage of this. They will take this data and, based on predictive insights with more targeted content and advertising, they will distil it into more tailored experiences.

Gen Z will be the future of mainstream retail. Successful businesses will adapt to this new norm and learn to thrive amid frequent change. To better understand how retailers can create customer experiences to meet the challenges of this most demanding generation, EY commissioned a survey of 1,000 adults and 400 teens aged 14 to 17. The survey examined the differences between generations to gain insight into today’s changing consumer behaviour, focusing especially on those who grew up with technology (millennials) versus those who were born into it (Gen Z).

Gen Z and millennials are both conscious of price, but millennials continue to make this a top priority, as reflected in their pre-shopping activities. While Gen Z places greater value than millennials on factors that simplify the shopping process,

Drawing on EY’s report – One Tough Customer: How Gen Z is Challenging the Competitive Landscape and Redefining Omnichannel – we’ve put together some insights on how retailers, including local ones, should respond to a Gen Z Future.

Chris Meilak leads the economic advisory team at EY Malta.

Theo Dix is a project finance and infrastructure consultant at EY Malta.

WHAT DOES GEN Z WANT? 1

RESPONSIVE AND SEAMLESS

Offering consumers options to research, shop and buy across physical and digital platforms is no longer enough.

Instead, retailers must deliver responsively, intuitively and seamlessly across platforms. If they’re awake at 2am, they expect you to be too. Through new digital tools, such as Facebook’s Messenger’s AI driven “chatbot”, retailers can now deliver automated customer support, e-commerce guidance, content and interactive experiences to address this need.

2

UNDERSTANDING CUSTOMERS’ OVERALL LIFE PATTERNS

Consumers measure their experience with retailers across various touch points in their lives. Understanding customers’ overall life patterns and how the experience offered fits and supports these patterns is necessary for understanding the difference between good and great in customers’ eyes. Ambitious and uberproductive, Gen Z demands efficient and hassle-free processes when shopping, from beginning to end. They will seek out peer approval before purchasing and are just as influenced by online video bloggers, “real people” they can relate to, as celebrities.

3

PHYSICAL STORE IS A COMPETITIVE ADVANTAGE

Retailers can use the physical store for competitive advantage.

Success requires that the retailer clearly defines its purpose as

an organisation and uniquely delivers on it across all customer touch points. If retailers manage to get this right, Gen Z will leave a trail of hashtags and content across Facebook, Instagram, Pinterest and Snapchat for the friends and followers to feed on.

4

DELIGHT GEN Z, DELIGHT EVERYBODY

Retailers need to capitalise on experience and ensure they truly understand their shoppers’ needs and desires. Gen Z maintains the highest expectations in this regard. Meeting those expectations will go a long way toward delighting all generations. Gen Z are crying out to be heard. Research highlights that a majority of Gen Zs’ parents say that their children have some influence on household spending decisions.

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CONTINUOUSLY DELIVER A BETTER EXPERIENCE

Rather than seeking a “silver bullet,” retailers must develop strategies that allow them to continuously hack their way to excellent experiences… relentlessly assessing and evolving what is, into what can be. Gen Z want something first, rather than something that is perfect. Products that don’t change become passé very quickly. Gen Z crave the latest updates and want to be part of it – inviting them to get involved in making the product better will drive huge amounts of brand loyalty.

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SHOPPING

A WINDOW ON

SHOPPING What are the trends that are shaping the future of shopping?

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he rise of a new generation of shoppers, the infusion of technology and retail, and the growth of online shopping have all contributed to major shifts in consumer buying patterns.Many retailers were not prepared for this shift – this lack of foresight left them with the burden of extra stock, narrowing profit margins and many concerns about future profitability. However, those retailers who inform themselves and can anticipate – as well as influence – trends are ready for the future of retail.

ADDED PAYMENT OPTIONS

Gone are the days when you would see something you want in a shop window, walk in and exchange your cash with the item in question. Nowadays, retailers offer various payment options. Mind you, it’s still your money – however, you can pay with cash, card, mobile payments and near field communication payments such as Apple

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Pay, Android Pay and Samsung Pay. These methods come with added security features that limit the incidence of fraud.

ONLINE AND OFFLINE

For brick and mortar to wage war against online shopping was a short-term solution.

And it wasn’t even a solution. Nowadays, retailers have realised that they need to cater for both online and offline shopping.

This year has seen an increase in retailers combining the two experiences, through such offerings as click and collect. There is a similar amalgamation in the backend, with retailers increasingly unifying their online and offline data collection, for better management of stock, payments and marketing.

Through this combination, retailers have a more comprehensive picture of why and how their customers shop.

SEAMLESS SHOPPING

There are various incidents which can act as an obstacle to a seamless shopping experience, from unfriendly sales staff to a five-minute discussion on why your voucher is not redeemable. Retailers have realised that for an increasing number of customers – both existing and potential – one of the main attractions of shopping is a seamless experience. And therefore, retailers are removing many of the hurdles in the way through initiatives such as omnichannel, easy reordering functions, and seamless transactions.

A NEW FORM OF LOYALTY

Old school loyalty programmes are on their way out, with studies showing that customers prioritise value and convenience over loyalty rewards.

That doesn’t mean that loyalty programmes are on their way out – rather, retailers have realised that loyalty programmes on their own are not

enough. Moreover, loyalty programmes have become more personalised and interactive, with new programmes that enhance the customer experience and make it easier to redeem rewards.

SOCIAL SHOPPING

Social media will continue playing an important role in shopping. There are already dedicated tools like Soldsie and Like2Buy. However, social networks will launch further attempts to dominate online shopping. In 2015, Facebook, Twitter and Pinterest all released buy buttons.

The reception was quite lukewarm – however, consider it as the platforms dipping their toes

to test the waters – expect social networks to continue investing in social commerce.

There is also the issue of social influence.

According to the Retail Trends 2016 report by Deloitte, social media is playing a more direct role in commerce – the brand-building side of social channels is now one of the biggest sales influencers for web-savvy consumers.

INTERNET OF THINGS

More retailers will look into leveraging the internet of things to boost their shopping experience. A study by McKinsey found that uses of internet of things in retail can have an economic impact of $410bn by 2025. That may seem like a long way off – however, forward-thinking retailers will already have started planning.

“RETAILERS HAVE REALISED THAT FOR AN INCREASING NUMBER OF CUSTOMERS – BOTH EXISTING AND POTENTIAL – ONE OF THE MAIN ATTRACTIONS OF SHOPPING IS A SEAMLESS EXPERIENCE”

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DESIGN

SHOPPING ON SHOW Retail displays deliver compelling consumer experiences and commercial value for brands, Moe Krimat says.

from our clients. Our annual survey has shown an increase in demand for industry trend and consumer insight as well as the measurement of retail displays.

Acting as Nike’s principal agency partner, we enjoy collaborating on the design and implementation of new global initiatives – putting Nike women first with a unique, exclusive, personal styling service – the first of its kind for women’s performance retail.

The essence of retail hasn’t changed in hundreds of years: the exchange of money for goods. But has the experience become more complex?

This exchange has been fundamental in the evolution of our species as it has encouraged the exchange of cultures across the world. The basic process of trusting a supplier and making an educated purchase hasn’t changed – however they have both dramatically improved in terms of experience and availability. Technology has expanded the opportunities of trade and brands are becoming more interested in harnessing these innovative tools to carefully shape their consumers’ experience digitally and in store. The experience has become vividly more complex to deliver and manage a brand’s image while maintaining a high standard of service levels across all channels.

There is more noise and competition than ever, which means these experiences are giving retailers an increasing challenge to hold consumers’ attention and loyalty.

How do retail displays add to the consumer experience?

At Seen Displays we pride ourselves in producing engaging retail displays that deliver compelling consumer experiences and commercial value for brands.

Experience is usually built on memories. If you think back about the best day of your life in the past year you will tend to recall the finest sensory details, from temperature and smell to sound. These episodic memories can engage dopamine to leave a positive experience for the consumer.

You see many retailers starting to recreate these points of stillness and nostalgia in highlighting their brand’s history and heritage or in relaunching one of their retro products.

As French philosopher Denis Diderot once said, “We are all instruments endowed with feeling and memory. Our senses are so many strings that are struck by surrounding objects”.

As technology continues to help brands broaden their consumers’ experience it could equally distract and make it difficult to hold their undivided attention. With the quick turn around of innovation these days, it becomes increasingly important to avoid sensory overload but instead conduct this symphony of stimuli in order to create a truly rich and memorable experience.

In the long term, do retail displays strengthen a brand?

Being a creative and intelligent partner at Seen Displays, we are at the forefront of creative trends to position our brand partners as leaders and trendsetters of the retail world. Our creativity goes hand in hand with our neuroscientific approach to provide our clients with the tools to create long-lasting experiences to their consumers which result in increased customer return and brand loyalty.

When you engage an audience’s curiosity, you not only create an increased dwelling time of potential customers but more opportunity to share product and brand knowledge to convert loyalty.

How do effective retail displays attract increased footfall and, ultimately, custom?

Our research has stemmed from listening to our brand’s consumers as well as directly

We provided windows and in-store displays to support Nike’s female-focused campaign in both London flagships – NikeTown and Kings Road. This included developing a unique customer service journey delivered seamlessly by a team of Nike Genius Girls. We created a storyline of visual schemas representing the premium and feminine finish to a gym-training environment, an area with preconceived notions of being dominated by men.

This immersive journey resulted in surpassing all set KPIs, including of female sign ups to Nike+ membership, social media traffic and exploration of never before trialled product lines.

MOE KRIMAT is Strategic Creative Director at Seen Displays, a creative retail display agency based in New York and London.

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DESIGN

More recently we collaborated with Mothercare to design and produce a shopin-shop for one of their partner brands, Little Bird. Inspired by the colourful 1970s, the brand was developed by Jools Oliver to reflect a unique and modern approach to motherhood. The design was considered to engage parents through mnemonic cues of familiar shapes and retro objects which create a longer dwell time and sense of nostalgia.

When you create an environment that retains someone’s undivided attention, they have a heightened sense of comfort which leads to further trust in a brand’s products. These displays naturally lead to a considerable increase in footfall and conversion rate that have led to a huge demand to procure our displays across the country and internationally.

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From static displays, we are increasingly seeing interactive and engaging displays.

What do you think will be the next development in retail displays?

Retail environments have surpassed solely visual displays. There is a growing number of brands exploring multisensory design as a way of designing rich and immersive environments.

While digital shopping will continue to advance further, brands will continue to build on their brick and mortar stores, creating rich sensory environments to leave longlasting impressions on their consumers.

When you look at the welcomed invasion of retail brands at Salone del Mobile in Milan, it’s clear that retail brands are becoming more interested in curating these experiential

“WHEN YOU CREATE AN ENVIRONMENT THAT RETAINS SOMEONE’S UNDIVIDED ATTENTION, THEY HAVE A HEIGHTENED SENSE OF COMFORT WHICH LEADS TO FURTHER TRUST IN A BRAND’S PRODUCTS” spaces with a narrative that immerses visitors making them brand ambassadors through word of mouth and social media. And what better ambassador than one with 7.4 million followers on Instagram like Brooklyn Beckham.

I didn’t think these figures were a coincidence when Burberry commissioned him to shoot their fragrance campaign last year.

It’s these experiences that will drive consumers to their digital channels. With this in mind I believe progressive retail

brands will look one step further and build displays that will bridge the gap between their ‘instagrammable’ displays and online shopping. Topshop’s recent launch of shoppable Instagrams is just the start.

What are you currently working on at Seen Displays?

We’re fortunate to work with a range of incredible brands like Nike, Converse, Tommy Hilfiger, Mothercare and many more who share similar values to our agency. We collaborate with likeminded brands that are progressive in their approach to retail, see the value in a strategic approach to design and those who appreciate attention to detail.

It’s currently a very busy summer for us with major sporting events and exciting trends followed by the start of the Autumn/ Winter season. On the side of our direct client work we thrive to bridge the gap between inquisitive creativity and focused intelligence. In response to our “Tell Us What You Think” survey to our brand partners, this year our managing director Lucy Hackshaw will be investing in unique and cutting edge research to further study “How to create effective retail activation through the understanding of neuroscience and consumer behaviour.” Watch this space… www.seendisplays.com

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INTER -VIEW

Andy Lopata is a leading business networking strategist.

He was in Malta as a guest of the UP Academy for Executive Performance, run by Nathan Farrugia, as part of the International Speaker Series.

LET’S WORK TOGETHER

Through networking, we can achieve more together than each of us can do on our own, Andy Lopata says.

What value does networking give to a business?

Networking offers far more than purely sales leads. Strong networks can help you build your profile and get out a clear message about you to your target market. Social networking sites make this process so much easier to manage, and more viral, than before – however, traditional networks still play a huge role in developing influence and credibility.

Networks also offer huge opportunities to find out key intelligence about your target market, companies you engage with and the sector you work within, as well as your own business. It’s incredible how many businesses still suffer from staff hoarding information and not sharing with their colleagues. Powerful relationships internally can help to overcome this challenge.

Finally, there is the sales benefit. People are far more likely to meet with and buy from you if you have met through an introduction than any other connection. Having a strong network to make referrals can strongly impact a business’s ability to engage and close sales with key prospects.

And what does it give to an individual?

Much the same as for a business. In his book The Start Up of You, LinkedIn founder Reid Hoffman talks about the importance of an individual treating their career as they would if they were running an enterprise. So networks can help to build profile to help secure the right job, provide advice, support and information and also make key introductions.

Still, networking is frequently put aside and disregarded as a skill. Should organisations and individuals ignore networking at their peril?

I agree. Put simply, networking is about sharing experiences, expertise, ideas, worldviews and contacts to enhance our potential. Through those networks we can achieve more together than each of us can do on our own.

If you agree with this then surely ignoring networking means making life more difficult.

Making the same mistakes as others have before you, struggling to innovate without fresh ideas, making frustrating cold calls rather than getting warm introductions.

Is one born with the skill to network, or can this be learned?

Yes and yes! Some people find it much more comfortable talking to people, making connections and asking for help than others.

But that doesn’t mean that such skills can’t be developed. Some take longer. I still have to make a conscious attempt not to interrupt people with my point of view and just let them talk. But I’m determined to improve in that area and have explored what I need to do.

Traditional perceptions of networking strength can also be misleading. If you’re introverted you’d be inclined to think that networking is not for you. You’d be wrong.

Listening skills are far more important than taking centre stage, so introverts often make the best networkers. They may just choose to do more of their networking 1:2:1 or in small groups.

What defines ‘good’ networking?

A focus on relationships rather than sales.

Showing a genuine interest in other people and taking yourself out of the equation. It’s ‘you’ and ‘us’ rather than ‘me’.

Having said that, you do want a return on your networking investment. So clarity about what that return would look like is also key, as well as the ability and confidence to ask for specific help when the time is right.

How can networking be translated into added sales, successful recruitment, or simply personal career achievements?

By having clear objectives in all of those areas and an understanding of how other people can help you. And then focusing on developing relationships and supporting others to enable you to develop a trusted network who are naturally happy to help you meet all of those objectives as and when they can.

It’s a long-term strategy focused mainly on other people, not a short-term game where the only winner is you.

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PROMO

KNOWLEDGE IS RETAIL POWER Having the right information helps you better target your advertising spend, displays, stock and store layout, John de Giorgio of Shireburn Software says.

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here are many ways that retailers can use technology to enhance sales.

Most retailers today already have a point-of-sale solution integrated to an inventory system to manage their stock, pricing and analyse their sales, although even here not all systems are alike.

The maximisation of sales in retail requires a number of aspects to be covered. The retailer needs the right type of product that suits their audience. Moreover, whether in their physical shop or online, the stock must be available, in the right colours and sizes where relevant, at the right price, displayed in the right manner and framed in the right shop or online customer experience. You also need to communicate this to your audience.

Technology can help in all these areas but, while some basics are a given, other opportunities may be less obvious.

Online advertising, remarketing tactics, e-mail campaigns and social media provide a very cost effective manner to communicate and promote while targeting different types of messages to different people. If your product range caters for various ages, do not try to communicate with all the age ranges together. These technologies allow you to target and measure the effectiveness of communications including which parts of your message have attracted the largest interest and which items have been clicked.

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While online you can tell whether a browser is a regular to your store, and what they have purchased in the past – this, of course, is more challenging in-store.

Loyalty schemes can be a bit old hat but knowing your customer is critical and this is one of the few ways to do so. Try and tag your sales to the customer so you can understand who is buying what.

It is important to have sufficient rich data to analyse to see who your customer really is and to cater accordingly your advertising campaigns, stock choices and even opening times. Is your data in real time so that you can react to trends now and not a month or so later? Is that spike in sales down to one or two customers or to many? What is each customer typically spending? When, how, why and what on?

Technical solutions exist that use smart RFID tags on items such as clothes that can detect an item’s movements in store.

Do customers take the item that is at the front of the rail or in the middle?

Do they wander with it and return it to its original position or does it make it to the changing rooms? You can analyse whether an item gets moved a lot, tried on but does not make it to the cash till.

Window displays are critical. Most fashion purchases are impulse buys. I’m not the only one who knows someone who says, “I’m going to get a red skirt” and that person comes back with a few more items, and quite possibly minus the original red

“YOU CAN ACTUALLY MEASURE THE EFFECTIVENESS OF WINDOW DISPLAYS USING PEOPLE FLOW AND CUSTOMER BEHAVIOUR MONITORS”

John de Giorgio

skirt. There is an intricate science behind what, how and where to display, colours, lighting, gimmicks and pricing. But you can actually measure the effectiveness of window displays using people flow and customer behaviour monitors.

People flow systems monitor where people walk, how many walk past a shop and how many walk into the shop. Sophisticated systems can tell if they slow down or maintain speed and their movement including within which part of the shop they linger. Technology can compare the

penetration rate of the shop with the conversion rate, that is what percentage convert to customers. As many retailers own more than one store, sometimes of different brands, you can recognise the percentage of your visitors who have been to one of your other stores. Do you have customers gazing at your windows when you are not open? What are they gazing at? Does the time of day and the type of day affect dwell time and conversion?

Of course, for privacy reasons, you cannot identify the individual person.

You can go one step further. Today, you can see how your customer behaves. See what they are looking at in the window. Do they look at all items or just one? Do they look just at the item or are they looking up and down at the price label? Do all passers-by display the same behaviour? What is the ratio of men and women? Facial recognition systems can also help with age range, mood and ethnicity. Are more of your customers women accompanied by reluctant men?

If yes, create a ‘man area’ with Wi-Fi, television and games console to make them

more comfortable. This information also helps you better target your advertising spend, displays and store layout.

Of course in the shop, you then need technology to help you support the buyer.

Can you check from your system whether you have an item in stock in another store?

Can you see what’s coming in on the next consignment and when? Do they want to lay away the item and come back later?

Can you offer a discount at another store that you own? Do you know that this type of customer normally buys this with that and that the minutes at the POS are your chance to connect with the customer and convert the sale to a higher value?

Knowledge really is power and technology is available to enhance the customer experience and impact the bottom line.

Customers and their habits change, and its imperative to keep up with the trends not only in terms of stock, but sales techniques and the supporting technology.

For more information visit www.shireburn.com.

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Interview PROMO

TIPBET

TOP REASONS TO WORK IN THE IGAMING BUSINESS IN MALTA

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he iGaming industry has become a fundamental part of the Maltese economic makeup. Over the past decade or so, it has provided young people with countless new opportunities to develop highly skilled and well-paid careers. Nonetheless, money is not the only motive why people from all walks of life choose to relocate to Malta and start a new career within online gaming. We have listed our four main reasons why we love to work in this fast-paced, ever-growing environment.

ENDLESS POSSIBILITIES FOR CAREER GROWTH

First of all, your educational background is not always essential or relevant to what you’ll end up doing in an iGaming company. People working in customer support, content marketing and gaming development come from varied educational and career backgrounds.

However, this industry welcomes ambitious and highly motivated individuals who everyday strive to give their best.

Additionally, iGaming companies like us often have other offices based abroad, giving employees the opportunity to participate in events or even relocate in another country if they wish to do so. This business can truly be rewarding for those who show passion and dedication.

BECOME PART OF A DYNAMIC AND INTERNATIONAL TEAM

Meet people from all around the globe, from different nationalities, different cultures, languages, and ideas. Broaden your mind by discovering diverse and innovative ways of doing things. More often than not, this attitude for bonding and forming long-lasting friendships is not limited to the office space as our staff events, include more than just a Christmas party organised once a year.

ROOM FOR SPECIALISATION WITH CUTTING-EDGE TECHNOLOGIES

The key to success is to be driven by what you love. If you are a football fan, for instance, working in an environment where your job will involve you in activities related to the various leagues, games and news on a daily basis, it is a real fashionable way to keep the wolf from the door.

At Tipbet we are proud to be in a position to offer interesting work opportunities for sports (and eSports) fans, but also if you’re passionate of high-tech, pc gaming and digital creative arts, we are likely to see what assets you can bring to us.

A FUN WORKPLACE WITH ENTICING BENEFITS

At Tipbet we have a great working environment, coupled with a wonderful team of people who will immediately make you feel at home. Every day, we offer free catered lunches, free fruit, monthly social events, summer boat trips and winter activities. Additionally, we help our prospective employees coming from abroad by providing accommodation in our company apartments, transport arrangements and a welcome starter pack.

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MARKET REPORT

Licensed stockbroker Alexander Mangion is Managing Director at MPM Capital Investments since 2009. The company is authorised by the Malta Financial Services Authority (MFSA) to provide financial services in Malta and holds a Category 2 licence.

He holds a Bachelor of Commerce (Hons) degree in Banking & Finance (University of Malta) and a Master of Finance & Investments (University of Nottingham).

WHEN CHANGE IS

NOT WELCOME Alexander Mangion outlines the market’s approach to the US elections.

C

hange, we can believe in – this was US President Barack Obama’s battle cry for his electoral victory back in 2008. Change, in general, is probably the most common catchphrase used by political parties and leaders in opposition worldwide seeking election. When it comes to American politics, however, change is not something investors seem to believe in too fondly.

It may sound surprising but there is a significant correlation between stock markets and changes in presidency.

Over the past 30 years, whenever a new president hails from a different party than the old one, markets have tumbled an average of three per cent during the first year of his term. On the contrary, in the first year of a re-elected incumbent’s term, US

stocks have shot up by a staggering 20 per cent. That is the price of continuity.

In a client note, consultancy firm Goldman Sachs lists “Three reasons why investors should take election cycles very seriously.”

First, the political stakes in presidential, parliamentary, or legislative elections often translate into changes in policies that can reshape the economic environment.

Second, the regularity with which elections take place in most countries may give place to cyclical patterns in government and investment behaviour. And third, elections can markedly increase political and social uncertainty. These three factors have the

potential to affect all asset classes, especially equities, given their strong sensitivity to changes in the economic outlook.

Nonetheless, continuity is not the only reason markets prefer presidents seeking re-election. They also like incumbents because, as they’re trying to get re-elected, they tend to focus on domestic economic issues and promote market-friendly policies.

They give importance to economic growth, lower unemployment and acceptable levels of inflation, issues palatable to both electors and markets alike.

Following November’s election, the US president will not be an incumbent, and

37 - Money / Issue 37

MARKET Interview REPORT

could be in for a bumpy ride all the way through the November 2016 election, and even beyond, until clear presidency policies start to see the light of the day.

regardless of a president’s party or political leanings, departing two-term presidents create a void that financial markets typically find a source of doubts. Add to that the unpredictability of the current campaign – and there we have already enough news to create significant market challenges.

Clearly challenges can be translated into opportunities, as should stock prices decline throughout the electoral campaign, it could present an excellent opportunity

for invest in sound shares and bonds. The 2016 presidential race has already offered a number of surprises. But what could it mean for the economy, the markets and, ultimately, for an investor?

While the outcome of this race is, of course, still an unknown, history suggests that the markets respond far better to election processes whose outcomes are more predictable. This time there is significant uncertainty, which could mean markets

To add to the complexity of the situation, if Hillary Clinton was to be confirmed as a Democratic nominee and presidential election winner, she would face constraints.

The House of Representatives is all but certain to remain in Republican hands, suggesting limited room to manoeuvre, except for certain policies – notably corporate tax reform – do seem to enjoy bipartisan support.

Despite her losses, Mrs Clinton is widely expected to be the Democrats’ presumptive nominee. A battle between her and Donald Trump, the Republican nominee, in November looks likely.

Still, investors in 2016 will be looking carefully at the economic proposals of the

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38 - Money / Issue 37

“MARKETS RESPOND FAR BETTER TO ELECTION PROCESSES WHOSE OUTCOMES ARE MORE PREDICTABLE”

two remaining candidates. Markets might, for example, respond well to proposals to reduce US corporate tax rates, which at the current 39 per cent are the highest in the developed world.

Other key issues might include proposals to reform and strengthen Medicare and social security, as well less regulatory burdens businesses. Unfortunately, the electoral campaign so far has taken a very nasty and aggressive twist with reciprocal allegations and insinuations, with little focus on hard policy issues.

Of course, the presidential election does not occur in a vacuum. Various external factors may affect market sentiment, from the fragility of the world economy and Brexit to high debts levels in most European countries, woes afflicting

emerging economies and China’s lacklustre performance. Unforeseen developments ranging from sudden conflicts to natural disasters can easily move markets in unpredictable ways. And markets experience regular ups and downs, just like the rest of the economy.

In view of such instability and unpredictability, for most investors, the best way to prepare for possible market volatility in 2016 is to take a long-term perspective.

Despite the rhetorical statements of ‘historical elections’ – which tend to repeated every four years – ultimately, 2017 will most likely to be back-to-normalbusiness. America is in a relatively stronger position than many of its developed world peers, particularly Japan and the euro zone.

America’s ingrained advantages will go beyond any single presidency.

39 - Money / Issue 37

COUNTRY PROFILE

PEACETIME IN COLOMBIA

After decades of war, there is finally peace in Colombia. But will the truce hold?

T

he Netflix show Narcos is a postcard from Colombia. But it’s not a wish-you-werehere postcard – rather, what it says is, stay where you are and don’t come here.

Narcos is largely based on fact and follows the rise and fall of Colombian drug lord Pablo Escobar. The rise is bloody and the fall is even more so, as Drug Enforcement Agency agents close in on him. And all is set against the backdrop of political turmoil and violence.

Colombia knows a thing or 10 about violence. After all, it was the stage, until recently, of the world’s longest civil war

40 - Money / Issue 37

which has killed thousands and displaced around five million people.

It all started in 1948 when the violencia began between the military wings of the Liberal and Conservative parties, fighting over land rights and ownership. Over the years, the war became a four-sided one, involving narco cartels, rightwing paramilitaries, the leftist guerrilla Revolutionary Armed Forces of Colombia – better known as Farc, founded to continue the leftist struggle and combat US intervention in Colombia’s affairs – and the government army.

Escobar joined in with his Medellin cartel and, often in coalition with the paramilitary movement, waged total war on the state and its people. When Escobar was killed in 1993, the paramilitaries disarmed. Yet the war raged on. The Farc also kidnapped for ransom, often targeting politicians and wealthy landowners, using funds to pay for militant camps.

Yet Colombia was getting tired of the violencia. In 2014, Juan Manuel Santos, the current president who has been in office since 2010, predicted that an imminent peace deal with Farc guerrillas could end the longestrunning civil war in the world, in the process reducing the global supply of cocaine.

President Santos predicted the deal would be done by the end of 2014. He missed the target by more than a year as it was

only last June that President Santos and Timoleon Jimenez, the head of Farc, signed a truce to put an end to 60 years of conflict.

This truce followed four years of peace negotiations held on neutral ground in Havana, Cuba. The US also played a role in these talks, when US secretary of state John Kerry held a meeting behind closed doors with Farc leaders last March.

June 23 will be remembered as a historic day for Colombia. As long, of course, as the truce holds. That will always be spiked with doubt. Even in the run up to the signing of the truce, a string of murders shocked Colombia and served as a reminder that violence is always there, a stealthy and deadly presence. Those killed included William Castillo, a member of the leftwing movement Marcha Patriotica, Klaus Zapata, a member of the Communist Youth group, who was killed while playing football in a Bogota suburb, peasant leader Marisela Tombe and Willar Alexander Oime, the governor of an indigenous reserve.

Then in May, Colombian authorities made the biggest cocaine seizure in Colombia’s history when 50 commandos, backed by helicopters, seized eight tons of cocaine on a banana plantation in Antioquia. It

Colombia’s war has caused more than

seems that the drug was destined for the Caribbean and then to the US.

250,000

There are concerns whether Colombia will find peace. The key struggle is to find an alternative to the financial returns from drugs. Yet unlike what popular thought would have it, Colombia doesn’t just produce cocaine. The country has significant natural resources and has substantial oil reserves. It is also a major producer of gold, silver, emeralds, platinum and coal.

deaths and the displacement of more than five million people.

So far this year, Colombian authorities have seized more than

86 tons

Colombia also enjoys significant US support – it has a free trade deal with the US and is a big recipient of US aid. In return, Colombia is a staunch ally of Washington.

of cocaine.

The economy is also performing well and last year, Colombia was among the fastest growing countries in the region thanks to effective fiscal management. Unemployment also went down to a record low of 8.9 per cent.

Lower oil process slowed this growth from 4.6 per cent in 2014 to 3.1 per cent in 2015. However, the Colombian economy is expected to start recovery in 2017.

Recovery, of course, will be difficult.

However, if the economic struggle is fought against a backdrop of peace, then half the battle will be already won.

“EVEN IN THE RUN UP TO THE SIGNING OF THE TRUCE, A STRING OF MURDERS SHOCKED COLOMBIA AND SERVED AS A REMINDER THAT VIOLENCE IS ALWAYS THERE, A STEALTHY AND DEADLY PRESENCE”

Colombia’s population totals

46.9 million 70

78

Life expectancy in Colombia is 70 years for men and 78 years for women.

Unemployment in Colombia reached a record low in 2015, falling to

8.9%

Mobile phone subscriptions in Colombia stand at 104.1 per 100 inhabitants.

41 - Money / Issue 37

INTERVIEWS

TAKE A BOW Classical violinist and model Charlie Siem pulls the strings on music and fashion.

This is your second time in Malta, what made you come back?

I was in touch with Kenneth Zammit Tabona, the artistic director of the Manoel Theatre, the first time and he brought me to Malta a year-anda-half ago to perform for the season opening in October 2014. I played with Mro. Brian Schembri and the Malta Philharmonic Orchestra at the Manoel. It was such a great occasion, such a warm and enthusiastic audience, that when Kenneth asked if I would come back and play a recital I thought it would be a wonderful opportunity to return to this special island.

Now that I have been here twice, I feel like I am part Maltese. Coming to Malta feels like coming home, so I hope that I will return soon.

Would you like to continue the interview in Maltese then?

Well maybe next time. Third time, why not?

You are used to playing in some of the finest of theatres across the globe. How do you feel when performing in such a relatively small theatre like the Manoel?

It’s so charming. The Manoel Theatre is beautiful. It has a really magical atmosphere and the fact that it’s so small makes it really intimate.

You really feel the audience and I love this kind of Italian opera house, with a style that has all the balconies going right up to the sky. It’s a privilege to play in place like that.

You repeatedly state that you started playing at the age of three? Who spotted this talent and special thing in you?

This special thing I discovered later, but certainly when I was three, I knew I wanted to play the violin. I loved the sound. I heard it on a cassette tape my mum used to play in the car and I just knew this was for me. Years later, I realised I had a natural affinity, a physicality that corresponded with the instrument, so I decided I was going to work at it, and get as good as I could be. But early on it was just me – it was my personal response.

Photo by Ben Harries

42 - Money / Issue 37

Photo by Photocity

Photo courtesy Malta Philharmonic Orchestra

“THE MANOEL THEATRE IS BEAUTIFUL. IT HAS A REALLY MAGICAL ATMOSPHERE AND THE FACT THAT IT’S SO SMALL MAKES IT REALLY INTIMATE” Let’s shift to the other subject: fashion.

Despite your involvement in fashion, will music remain your top priority?

People ask whether fashion was a conscious choice. Was it something I ever wanted to be involved in? The answer is, not really because I only ever played the violin – music has always been my focus and the fashion world was something I was invited in to.

It all started when, five years ago I was asked by a major British brand to do a campaign for them. Actually, I played at a book launch for world famous photographer Mario Testino – he was launching a book on Kate Moss. I knew Mario and he asked whether I could do a special performance

at this event in London. I willingly accepted, playing some Paganini Caprices.

The following day, the casting director for this British menswear label said they’d love to feature me in their next campaign as a violinist. They told me it would be a lifestyle campaign and I thought it would be a good idea to get exposure. I was at the beginning of my career back then. I still am in many ways, but back then I was really starting out. I thought this was a really great way of getting my name out there with a great image, shot by David Sims, a great photographer, a great brand, and I was featured as a violinist. That’s why I accepted.

From that, it led to other things: Hugo Boss, Dior, and Armani. It is hard to say no when you get asked to do a campaign: you meet a lot of interesting people, people who are at the very top of their game, great photographers, and great brands. As you know they are sort of iconic brands in many ways and that’s another perk of doing what I do.

Hugo boss: did Art Director Jason Wu make this happen?

We’ve got a very good mutual friend and I met Jason Wu through this friend in Shanghai. It was through Jason, yes, and the photographers Inez Van Lamsweerde and Vinoodh Matadin who had shot me for a campaign a few years ago. The two suggested me for this Hugo Boss testimonial. That’s how it came about.

Photo by Cliff Lipson

Boss people are fantastic to work with: they’re a great company, thoughtful, and get really involved. I also played for Hugo Boss a number of times in Rome and in London.

Do you see yourself in another Hugo Boss campaign? Any new brand coming up?

I don’t know. Not at the moment, but we’ll see.

Having said that, you also tailor your suits on Savile Row? I design my own clothes, bespoke. When I perform, I design this particular outfit which to me is the most practical: it’s comfortable, it’s simple, and it’s smart. It’s sort of a variant of a military officer’s dress code and a sort of Asian Nehru collar. It’s a whole mixture of different kinds of things and it works very well for performing.

It was a pleasure to have you here in Malta, as a musician first and foremost, and also as an ambassador for Hugo Boss.

43 - Money / Issue 37

Photography

Nicky Scicluna Stylist

Luke Engerer Model

Jon, at Models M

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Interview FASHION

THE HEAT IS ON

Keep cool and carry on with Money’s hot gifts.

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SHOES FOR SUMMER Chic, light and available in a range of bright colours, the Arno shoe by Mr Hare makes for perfect summer footwear. Available in various colours.

HEY DANDY Handcrafted in London, this pocket square by Chester Barrie features a delightful design.

HAVE A SEAT With a shape inspired by the mating dance of male ostriches, the Banjooli chair by Moroso is hand-woven

by African craftspeople using the yarn of fishing nets

52 - Money / Issue 37

TAKE THE SHORTS WAY These navy shorts by Orlebar Brown add to your fashion credentials on the beach.

LIGHT OUR FIRE Exuding a pink-champagne fragrance, this Bibliothèque Gold candle by L’Objet has a burning time of around 40 hours. The Limoges porcelain container, with 24ct gold detail, can be reused as a decorative box.

THE GREAT OUTDOORS This lovely wool blanket by Atlantic Blankets has leather straps and waterproof backing, making it ideal for

MONSIEUR CROQUET This traditional croquet set by The Conran Shop is designed for up to six players, with six mallets and balls marked with corresponding colours.

ROUN D AND ROUND This Williams Cycles bicycle is a limited edition model and comes with a frame that is handmade from a bamboo-flax composite.

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Food and travel writer Mona Farrugia runs Angelica in Valletta. www.angelicamalta.com

TRAVEL

SLEEPLESS IN THE SERENGETI

Tanzania’s jewel in the crown keeps Mona Farrugia awake.

Photos by Richard Waite, Four Seasons.

“I

don’t care what they say: nothing can be worth the 10 hours in an unairconditioned panel truck,” the voice booms around the pool.

The ‘voice’ is wearing a huge Stetson and if I could write that in a Texan accent, I would.

But the man is not worth the effort and neither was the man who was supposed to be listening, sipping on red wine and ice cubes with a straw and wearing something my eyes will never recover from: a boatshoe version of Crocs.

“And how is this water so ice-ass cold?” he bellows as he puts a foot inside the chilled pool at the Four Seasons Serengeti, where the ambient temperature is at least 35 degrees Celsius and the water a welcome respite for humans and animals alike.

The quality – and emotional intelligence – of other guests becomes important when decent, quiet, book-reading guests (me) are exposed to their very loud conversations. A huge majority of high-end camps all around Africa is populated with American – well-

heeled and getting on in years, many in wheelchairs – discussions about insurance (claims about the ‘slippery side of the pool’), inane subjects and, even worse, serious subjects discussed inanely.

A few seconds of conversation and you will understand how the Bushes were presidents and how Donald Trump can seriously consider leading the free world.

Rubbish in, rubbish out, as they say in other industries. It counts for hostelry as well. If

55 - Money / Issue 37

TRAVEL

WHERE TO STAY AND HOW TO GET THERE

Accommodation in the Serengeti is in the form of ‘camps’ – extremely high level outside living, ‘on the go’ – that is, it moves periodically according to migration and animal movement. The Four Seasons Serengeti is on of the few properties that is an actual hotel and which has a pool. Your time out on the jeeps is only a few hours a day so make sure that you have other things to do during the hot days, including lie poolside, read, watch animals from your room and the most important stuff of all: hang around the bar drinking cocktails.

To get there is not easy at all. Transcontinental flights are done via Dar Es Salaam. Avoid, at all costs, Turkish Airlines: they are flying small threehour aircraft for seven-hour flights and the experience is excruciating, even in business class. Etihad and Emirates are a better bet throughout from business and first class lounges in airports to service on board, to connections.

Africa – so complicated, so exciting. I love it and so will you.

56 - Money / Issue 37

you already have an attitude, are entitled, angry or have a 20-year hate relationship with your wife and travel companion, you will probably pile too much importance into your holiday. Nothing the operator can do will make you happy. The Four Seasons all-inclusive policy – no, you cannot book a bed-and-breakfast in the middle of the bush, have a two-hour breakfast and then glower at other guests as they enjoy lunch and dinner (something I have seen frequently in the Maldives) – filters many of these out. It is thankfully very expensive and so manages to keep out those looking for a bargain (bargain hunters are sadly the ones that normally approach holidays as acquiring expeditions). The Texans have money. Lots of it. So they get in.

The staff here, albeit not up to one of the Americans’ exacting standards – at breakfast he actually shouted across the room that he started his day with a Diet Coke because he is diabetic – are superbly trained and constantly on their toes. After breakfast I would go down poolside to read and write.

This would be relatively early, around nine, and so the men would still be cleaning the water from the beautiful bits of leaf and flower that would detach themselves from the trees and flutter into the pools. In split seconds, their attention would turn to setting up my lounger, bringing towels. Then

they would calmly get back to cleaning.

Good hotels and restaurants are about the five senses. It took me a full five days to realise that the soundtrack here was not composed of music, piped or otherwise.

It is phenomenal, the kind you can hardly bottle for consumption elsewhere: the birdsong starts at daybreak, crescendos during sunset, then settles at night. The ducks at the watering hole quack all day long, for reasons only known to them and ornithologists. The elephants trumpet and various mammals – hunters and prey – rustle through the lush grass of the savannah. You will never hear the sound of cars – the property is planned in such a way that even its own jeeps drive in and out of earshot.

This, the absolutely precise location of the pool – facing the sunset – the outstanding layout, the furnishings and the sheer lushness of the upstairs lounges with their classic African bush bronze and dark hardwoods – make me want to meet the architect and designer and offer them a drink or 10.

Sometimes the soundtrack is punctuated by events, such as the Masai putting on a song and dance at their village and during our dinner. To get out of their cow-dung huts, charge six of us the princely sum of $100,

and then try to convince us to buy really badly-made jewellery for another $20. The dance was video-for-the-family-back-home material and the entrance to their home was decorated with a curtain and carpet of flies. It was as big as a shower and apparently slept seven. The visit, my first as a ‘tourist visiting natives’ – something I absolutely abhor and normally avoid like the plague – made me feel uncomfortable, extra and ridiculous. Not guilty, but totally ludicrous.

PAY-PER-USE OFFICES, DESKS, MEETING ROOMS AND OPEN PLAN OFFICE SPACE

I have seen quite a few parts of the eyeballshattering beauty of Africa: Mozambique, the Kruger, South Africa, top to bottom of the Indian Ocean – but nothing quite prepares you for the wonder of the great migration over the Okavango Delta. And the only way to get there, in these thousands of acres of a volcanic hole, green and gold, is on the bum-breaking jeeps.

And yes, it takes 10 hours, many of which are spent jumping around. Every single arnica-essential bruise is worth it: thousands of wildebeest with their babies (in March), a couple of extremely rare white rhino, entire packs of lion, eagles, cape buffalo which you think are black glistening rocks until they move or yawn out of lakes, a few cheetahs hanging down from trees, cheeky bush-babies and monkeys cutely setting up road blocks: it is a list in writing and an Attenborough documentary in life. This was the sacrifice the Texan Stetson-wearer did not want to make.

Back at the Four Seasons – probably one of the best Four Seasons I have ever stayed in where nature and architecture gel – the food and accommodation manages to go over and beyond the call of duty in a situation where logistics are close to impossible. The GM was at Four Seasons Maldives previously and in a discussion which would be otherwise boring to non-industry people (namely my gin-tonic sipping husband) told me that the Serengeti was much more difficult than an island in the middle of nowhere to manage.

“At least in Male you have agents, a boat and daily seaplanes. Here the private planes can only take very little weight. Something as simple as water needs to be sourced and bottled in glass on the premises. Let alone food.”

And yet, the staff, many of them from the village, manage to produce amazing fare every day.

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If you are looking for the holiday of a liftetime, the kind that you know you will do once and probably never again, this is it. The combination of God’s green earth, what it has come up with and how man and womankind sometimes respects it to brilliant results, will spoil you for life. The bruises, on the other hand, heal very quickly: just make sure you take a chilled-pool dip afterwards.

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The Bluesman is a Maltese sound engineer working in New York.

Interview NEW YORK

cold Out in the

Following Britain’s vote to leave the EU, the morning-after feeling was quick to sink in. it should be a lesson for the US, the Bluesman says. n the run up to the Brexit referendum, both the Leave and Remain factions were pretty vocal in having their opinions put out there.

Losing sovereignty was the fear of the ‘Leaves’.

I can see how irritating it must be to have a bunch of faceless people sitting in Brussels calling the shots with no apparent input from the populations effected. At least ‘sitting in Brussels’ is what most people assumed until whispers of a crazy switching of locations from there to Strasbourg and back every month became chatter and then jaw-dropping public knowledge, reinforcing the belief that the EU is an out-of-control, money burning juggernaut and needs to be reined in. .

I

The Telegraph covered the story in detail on June, highlighting the costs, in the millions, borne by taxpayers, office equipment and televisions left powered up all month in the empty offices and the logistics of boxing and carting documents to and fro, so I won’t go into it here.

The ‘Remains’ maintained that England will be cut out of trade deals and partnerships as a lone country outside Europe. Even US President Barack Obama on his UK visit, in a move which irritated a lot of Brexit fans, dropped a hint of this possibility to come. Stronger in Europe they said, but it’s hard to see how that would work in the face of unbridled immigration filling the streets with homeless and unemployed, possibly unemployable, people.

In the last week before the referendum, the polls were showing a pretty even split. Financial Times correspondent Edward Luce called Brexit a threat to Europe and the West and thought the outcome a coin toss but leaning towards a ‘stay’ vote. He compared it to the Scottish referendum where the ‘don’t knows’ ultimately voted to stay in the UK, preferring the comfortably familiar to uncertainty.

We all know the outcome now. To me, the vote was not about economics but about cultural identity. Moreover, I do think that David Cameron seriously misread and mismanaged the situation much like Chamberlain flapping his useless piece of paper in 1938.

Resigning for having misread the prevailing mood and so coming up with a placebo instead 58 - Money / Issue 37

of a solution was the absolute least Cameron owed his public. Other times in history might well have demanded something bloodier. Before offering a referendum he could have tried using the country’s mood as leverage to get some meaningful concessions he could present.

In the aftermath, UKIP leader Nigel Farage unblinkingly denied having made any promises about funnelling some of the ‘saved’ billions to the NHS, claiming that the press got it wrong.

I admired the Good Morning Britain reporter for persisting with her questioning, something US interviewers never do. It doesn’t even look like the feared immigration of non-Europeans will even be affected. So this shot in the arm is beginning to look more like shot in the foot.

A petition for a second vote has already garnered over a million signatures as the morning-after feeling sinks in. Cameron doesn’t even have to abide by it so maybe someone if not him will grow a spine and take a stab at getting it right. After all, even that most bulldogged of Englishmen, Sir Winston Churchill, said after WWII, “There is a remedy which... would in a few years make all Europe... free and ... happy. It is to recreate the European family, or as much of it as we can, and to provide it with a structure under which it can dwell in peace, in safety and in freedom. We must build a kind of United States of Europe.”

A similar situation is unravelling in the US. Despite Donald Trump’s own party pedalling like crazy to prevent him from actually getting to the White House, the worrisome fact existed that an attack of some kind would play into his rhetoric and bolster his sweeping anti-terrorist ideas. Sure enough, Orlando was the scene for a mass shooting by a first generation American with an Isis connection.

Trump took pot shots at Obama and Hillary Clinton, patting himself on the back for ‘predicting’ this sort of thing happening, barely acknowledging the LBGT community targeted.

Thanks to the AP calling Clinton the presumptive nominee before all votes were in, thereby, in the view of many, effectively halting the process, Bernie Sanders has been elbowed aside and away from the Democrat Party nomination leaving the universally disliked Clinton as

apparently the only option as the Trump stopper.

Sanders has vowed to go on at least until the Convention brushing aside all requests to concede, including one from Obama. The Clinton camp also want him to encourage his supporters to fall in behind Hillary, something which will not happen even if he did make that call. There is talk of an Independent Party or Bernie running with Jill Stein and the Green Party.

Sanders has done the almost impossible and galvanised the millennials into a movement desperately hoping to break with the businessas-usual politics and, unlike GOP Senator Lindsay Graham who has said that he’d hold his nose and vote for Hillary, they will do no such thing.

There have been overtures from the Clinton camp to entice Elizabeth Warren to join the ticket as the VP candidate hoping it would attract the Berners. If that were to happen it would also remove a very able and liked senator who has no qualms about taking on the same issues as Sanders and who might very well find herself at odds with a Clinton presidency.

All of this over an undercurrent of rumours of recounts, voter fraud and suppression, and potential lawsuits. It’s going to be an interesting five months.

Orlando, vacation capital of the world, Theme Park Central, sunshine and clean streets, tragically has joined the growing list of places where human life meant nothing to a subhuman with a grudge. A place a mile away from where my younger daughter lives, incidentally.

A grudge against his father and himself, finding the most cowardly way possible to express itself. The father, brought out of Afghanistan and given asylum back when the US was encouraging anybody willing to fight the Soviets, seems to have festered instead of integrating.

Indoctrinated instead of schooling and crushed instead of building up. The shooter, married but repressed, on a terror watch list which was absolutely no bar against him buying himself a killing machine, frequented the night club, scene of the slaughter, on a regular basis. What better way for him to prove to his father that, hey, he could be just as homophobic as pops by shooting up a community of people who befriended and accepted him for what he was or wasn’t.

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Photo by by Rolex/Kurt Arrigo

AUGUST 2016 EDITION

Available at all marina’s and pontoons, boating and sailing businesses, sailing clubs, embassies and 5 star hotels.

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