Dos and Don’ts for Sushil Kumar and his Rs 3.5 cr

So Sushil Kumar has just won himself Rs. 5 crores - and obviously the first question in his mind should be:

How should I invest this huge amount?

Well let us assume that he gets Rs. 3.5 crores after all taxes are deducted.

The following steps are very important:

1. Invest the whole amount in a liquid fund in a good mutual fund — THE ENTIRE AMOUNT: He might take some time to overcome the great feeling and he should start deciding on what to do with the money only after the euphoria has died down. Till then the money NEED not remain idle.

2. He will obviously want to build a house for himself and his family. Assuming he will want to build a big house for 2 of his brothers, parents and himself - he should set aside Rs. 30 lakhs for a 3000 sq ft house Rs 1000 per square foot cost of construction. Allow for cost over runs, money paid to goons, furnishing, etc - another Rs. 25 lakhs. Total: Rs 55 lakhs.

3. He should use say Rs. 100,000 to pay off all his family debt (assuming he and his family has debt, it cannot be more than Rs. 100,000)

4. Assuming that there are 6 children in the family, he should put aside Rs. 25,00,000 in a balanced fund like HDFC Prudence - assuming that each kid will require it ONLY least after 8-10 years.

5. I hate saying this, but because he may not have access to good advice, he should buy a single premium pension plan for himself - and put aside Rs. 50,00,000. No doubt that he may trust only LIC (the assumption that it is government guaranteed helps) - and this amount of money will be beyond anybody's reach.

6. He should open a public provident fund for all the 14-15 members and put away Rs.70,000 in each account. I would never suggest this for a person who has access to an adviser on a regular basis.

7. He should put away Rs. 1 crore in a bank fixed deposit - maybe in 4 banks (Rs. 25 Lakhs each) as a 10 year deposit and all paying even after inflation is taken into account.

8. He should go and blow Rs. 10,00,000 on his family, friends and others in his village.

9. He should put Rs. 50 lakhs in a MIP with about 20% in equities and 80% in debt.

10. The balance should be left in the Liquid account - Rs. 50,00,000 from which he should withdraw from time to time.

What he should not do:

1. Give away a lumpsum to his brothers to do 'business'. It is not easy Mr. Sushil Kumar! AND THEY WILL NOT EVEN FEEL GUILTY - they will look at it as 'easy money' - so it is all right to lose!

2. Listen to too many advisers. He looks very simple at heart - and will be quickly cheated of his money. Money is money - it is for God to decide whether Sushil Kumar deserves it or not!

3. Give 'loans', 'gifts', etc to friends hoping it will come back. People who do not return the money will JUSTIFY saying 'he got it through luck...it is ok if I do not pay him' Awful logic, but it works. Sad, but true.

4. Not be in a hurry to invest - let the money lie in a FD or as a Liquid fund balance.

5. Make attempts to meet a politician. Remember even if Nitish Kumar is the CM, the state is still Bihar.

PS: I have no clue how Sushil Kumar will save it from the biggest goondas of Bihar. God bless Sushil Kumar and may the Lord protect his money!

The author P V Subramanyam is a Chartered Accountant by qualification and a financial trainer by profession. Writing being a passion he also regularly pens his thought in his blog Subramoney.com

29 Reasons You Shouldn’t Date a Tech Entrepreneur

Freemium models are your competition at the bar.

When you’re talking, they’re thinking about users.

They think lusting after 22 year old programmers is okay for grown men/women to do.

They make awkward sexual remarks like “I’d call that API”.

 They think a startup consists of not having a job, while programming.

They think they have multiple startups in the form of multiple unfinished apps.

If they’re from NYC, they grow really silly mustaches and wear really tight jeans.

If they’re from SF, they wear really tight jeans and grow really silly mustaches.

If they’re from DC, they’ll wish they could grow a really silly mustache and have tighter jeans.

If they’re in Austin, they’re probably puking on something during SXSW.

They think you care about their monetization strategy.

They don’t care how hot you are – if you don’t “get it” then you’re toast.

They think referencing Paul Graham essays in causal conversation is normal.

They have to schedule dates spontaneously 3 weeks in advance.

They’re too tired for a booty call.

Their exit strategy includes paying him/her.

You’ll need to follow them on Twitter to know what they’re up to.

You’ll need to follow them on Foursquare to bump into them randomly.

You’ll need to pretend you’re not jealous of the quality time they spend with their Siri.

Their idea of a date is meeting you at Starbucks for 30 minutes.

They keep pushing you to hire a team to manage and grow your personal blog

They won’t talk to you if you don’t believe in agile/lean everything.

Pillow talk sometimes includes references to Jack Dorsey.

Pillow talk also includes “when I raise that round baby…”

Ship early, ship often does not include gifts on your birthday.

Fail fast applies to your relationship.

Vacation includes co-working sessions, networking, Skype, and writing proposals.

When they wake up, the first thing they reach for is their iPhone.

You’ll get friend requests from people even they’ve never met in person.

Socialbots used by researchers to 'steal' Facebook data

Researchers have demonstrated a new technique capable of stealing personal information from Facebook.

Using 'socialbots', computer programs that mimic real Facebook profiles, the researchers were able to harvest vast quantities of personal data.

Socialbots are increasingly being used by internet criminals and are being offered for sale on the internet for as little as $29 (£18).

Facebook said that the research was overstated and unethical.

A socialbot is a social networking adaptation of the wide-scale botnets used by criminals to send out spam.

Making friends

In a traditional botnet, a network of computers are infected by a virus to allow a hi-tech criminal to use them remotely. Often botnet controllers steal data from victims' PCs or use the machines to send out spam or carry out other attacks.

What makes a socialbot different is that it is able to pass itself off as a real Facebook user.

The software takes over control of a social networking profile and from there performs basic activities such as posting messages and sending requests.

The four researchers from the University of British Columbia in Vancouver, created 102 socialbots for use in their experiment and one 'botmaster' - software that sent commands to the other bots.

The researchers employed their socialbots over a period of eight weeks. In total the bots attempted to make friends with 8,570 Facebook users. 3,055 accepted the friendships.

The researchers found that the more friendships people had on Facebook, the more likely they were to accept the 'fake' friend.

To prevent triggering Facebook's fraud detection software, the fake accounts only sent 25 requests per day.

Phishing

From the profiles of those they befriended and the extended networks of those friends, the researchers claimed to have 'stolen' 46,500 email addresses and 14,500 home addresses.

In their paper, due to be presented at next month's Annual Computer Security Applications Conference in Florida, the researchers wrote: "As socialbots infiltrate a targeted online social network, they can further harvest private users' data such as email addresses, phone numbers, and other personal data that have monetary value."

"To an adversary, such data is valuable and can be used for online profiling and large-scale email spam and phishing campaigns."

Facebook said that the experiment was unrealistic because the IP addresses used came from a trusted university source, whereas the IP addresses used by real-life criminals would raise alarm bells.

It also said that it had disabled more of the fake accounts than the researchers claimed.

"We have numerous systems designed to detect fake accounts and prevent scraping of information. We are constantly updating these systems to improve their effectiveness and address new kinds of attacks," said a spokesperson.

"We use credible research as part of that process. We have serious concerns about the methodology of the research by the University of British Colombia and we will be putting these concerns to them.

"In addition, as always, we encourage people to only connect with people they actually know and report any suspicious behaviour they observe on the site."

Ethical?

The researchers estimated that a real-life malicious attack could have a success rate of 80%.

"Online social network's security defences, such as the Facebook Immune System, are not effective enough in detecting or stopping a large-scale infiltration as it occurs," they concluded.

"We believe that large-scale infiltration in online social networks is only one of many future cyber threats, and defending against such threats is the first step towards maintaining a safer social web for millions of active web users."

Consultant from security firm Sophos Graham Cluley said the research was "interesting"

"Clearly there's a lesson for Facebook users to learn there about the need to carefully vet who you allow to become your Facebook friend, and what information you choose to share online," he said in his blog.

But he questioned how ethical such research was.

"Facebook's security team is unlikely to look kindly on people who conduct experiments such as that done by the university researchers, and users are reminded that under Facebook's terms of service you are not allowed to create fake profiles, should use your real name, and should only collect information from other users with their consent," he said.

JOB: Hiring Oracle SQL Professionals

Hi,

Greetings!!

Urgent opening with Top IT Company

Exp Level : 3 to 4 Years
Location : Banglore

Skills required:
Oracle with SQL Database

Kindly Share your resume ASAP at kanchan.careerline@yahoo.in

Regards,

KANCHAN BHUKESH
Talent Acquisition
For all Job Updates join following links:
http://in.linkedin.com/in/jobsite
http://management-wiki.blogspot.com/

Telecallers required

Hi,

Greetings!!

We are urgently looking for Female Telecaller

Requirement:

      -       Female candidates will be preferred.

-       Good Command over English.

-       Must Have basic Knowledge of Internet and MS- Office

-       knowledge of software industry will be an added advantage 

Job Description:

 -      Fresher may also apply, Similar experience would be an added advantage.

-       Coordinating with Sales & Marketing Team.

-       Arrange meetings with Clients

-       Cold calling to fetch Business leads.

-       Sending daily reports.

Candidate will be working from Home, Coordinating from Phone

Candidate must have a Internet connection and her own computer System. 

Bills will be paid for only Mobile, No Internet bills will be paid.

Qualification:

-  Graduate from any stream.

If this opportunity interest you, reply immediately

-- 

Regards,

KANCHAN BHUKESH

Talent Acquisition

http://in.linkedin.com/in/jobsite

http://in.linkedin.com/in/telecomjobs

http://management-wiki.blogspot.com/

21 Beautifully Designed Ads for your Inspiration

Here at WDL we understand that inspiration can be found in all media, including print, tv and online ads. A great website to browse to keep the juices flowing when you need inspiration in that area is Ads of the World. For this post I gathered only a few examples of the amazing pieces they have in their galleries. Here you will see creative and beautiful ads that get our attention for it’s typography, images, concept or just by being inspiring. It’s always good to see good designs in other media to keep our mind open to new ideas.

Why there is no Indian Steve Jobs

Why there is no Indian Steve Jobs[Image] tweet21 Email Print Topics:Stocks Mail Today, On Monday 10 October 2011, 3:58 PMVIRTUALLY every Saturday, Ajai Chowdhry, chairman and CEO of HCL Infosystems and one of the six co-founders of India's oldest computer company, HCL, spends a few hours listening to wannabe entrepreneurs. He listens to their ideas, looks at their business models and considers their pitches. Every once in a while, if he comes across an idea that interests or excites him, he goes a step further. He, and a few other senior executives like him, then ensure that that particular wannabe entrepreneur can manage to make the transition to actual entrepreneur.They help out with critical start-up funding. But much more than money, they offer what these entrepreneurs really need and what they cannot find in any business school or bank. They offer mentoring and advice and the wisdom learnt through their experience of having walked this path earlier, on their own.HistoryIt's hard work, and consumes a lot of what every busy chief executive like Chowdhry is most short of — time. But he, and the dozens of other successful businessmen who form the Indian Angel Network, know that this is the critical difference between a dream staying on paper and the dream turning into reality.Ajai Chowdhry should know that better than most. In 1976, his colleague in the Delhi Cloth Mills ( DCM), Shiv Nadar, had talked him, and four other colleagues and friends, into quitting DCM and starting their own computer company. Hindustan Computers Limited, as it was then known, managed to ship its first home designed, home- built microcomputer in 1978. Around the same time that a Syrian-American college drop-out called Steve Jobs had shipped his first microcomputer — the Macintosh.This was the predecessor of the PC. But IBM was to lay claim to that term, and make it its own, a full three years later, when it managed to roll out its first desktop PC. IBM, of course, took a different route to becoming the world's largest technology company. And Jobs took Apple on a different journey altogether, making it arguably the world's most inventive technology company, and eventually the world's most valuable one. Period.But what of HCL? Just imagine. Thirty six years ago, all three companies were virtually at the same point in the industry's lifecycle. Apple and HCL, in fact, were so similar, they could have been twins. Jobs started Apple in a garage.Nadar, Chowdhry and their friends started their company in a south Delhi ' barsati'. Apple took an off- the- shelf microprocessor and built a computer around it. And then developed the software to make it run. HCL took an off- the- shelf microprocessor and built a computer around it. And then wrote the software to make it run. At virtually the same time.Nearly four decades later, the picture has changed dramatically. Today, HCL is admittedly a very successful company. It has revenues in excess of $ 6 billion and is among the top five players in the country in all the sectors that it operates in.DifferenceBut look at Apple. Apple recorded net sales ( in 2010) of over $ 65 billion. In the stock market, at $ 350 billion, Apple is nearly a hundred times more valuable than HCL. It is not just the top player in its segments in the US — it is the top player in the world.What happened? Why did HCL get left behind, while Apple managed to surge ahead unstoppably? What was the ' X' factor which powered Apple to such heights? Apple fans would unhesitatingly say: Steve Jobs. Yes, the man was a genius.True, he had the uncanny ability to visualise not just what the consumer would want, but what the consumer would lust after, what the consumer would lose sleep over and what the consumer would be willing to queue up for hours and days in sun and rain to buy. There has never been an entrepreneur quite like him. Arguably, there never might be an entrepreneur quite like him again.But if Apple and Jobs were in a special league, it does not mean that HCL was not something special too. It too was a powerhouse of invention. Not only did HCL develop a microcomputer at the same time as Apple or a desktop PC three years ahead of IBM. They continued to invent. HCL developed a working UNIX computer years ahead of Sun and its own relational database management system ( RDBMS) ahead of Oracle. In 1981, HCL's Shiv Nadar funded two college dorm- mates who started a fledgling information technology training company called NIIT. Nevertheless, there was one key element which was different, the reason why Apple and Sun and IBM and Oracle became the kind of global giants that they are and the reason why HCL's growth was stunted.The difference was that HCL was an Indian company, working in Indian conditions.The others were all American. And the ecosystem available to HCL and its American counterparts was incomparably different.The very factor which helped create HCL may have helped to choke it, and companies like it. In 1977, George Fernandes' quirky nationalism drove IBM out of India, opening the doors for HCL. But over the next 13 years — the unlucky 13 perhaps — before reforms started, government regulations and the licence permit Raj ensured that HCL was left comprehensively behind. It could not make enough computers to meet demand, because it didn't have the licence to produce the extra number.When it got the licence, it could not import the components needed, because foreign exchange was short and you needed a separate permit for precious foreign exchange. It could not move into other markets abroad because that was controlled too. And so on.HCL can justifiably blame the lack of reforms for its lack of growth. But for hundreds of thousands of would- be inventors and entrepreneurs, there are still as many and equally insuperable hurdles, in their way. From a Kerala inventor reduced to sending emails to journalists about his heat exchanger which does the work of an AC at a hundredth the cost, to the son of a Gujarat potter whose ' rural fridge' wins him global awards and recognition, but no help in product ionising it, the lack of an ecosystem which encourages and supports innovation and enterprise is killing off the vision of thousands of Indian Steve Jobs before they can be turned to reality.LessonThat is the real lesson we can learn from looking at the life of Steve Jobs. Jobs was what he was because he was Steve Jobs — a genius. But Apple became Apple because it managed to find an environment where the company could convert its ideas into reality and reap adequate reward for its inventiveness.What if Jobs had decided to stay on in India after his 1974 visit? What if he had started Apple in India, not the US? Could a college drop- out have managed to get the funding to start a company? Would anybody have taken the technology developed by a non- graduate seriously? The answer is obvious. It is not just enough to be inventive or even entrepreneurial.Without a viable ecosystem which encourages new ideas, is genuinely open to competition and one which rewards intellectual innovation adequately, we would never be able to boast about our own Apples or our own Steves.But two decades down the reforms road, we are still to learn that lesson.r.srinivasan@mailtoday.inWRITE TO THE EDITOR letters@mailtoday.in or editorsoffice@mailtoday.inReproduced From Mail Today. Copyright 2011. MTNPL. All rights reserved.