General

PLDT and Rocket Internet

By on Monday, September 29, 2014

Almost a month ago PLDT invested in Rocket Internet, an e-commerce company known primarily for bringing successful US e-commerce ideas outside of the US. An example of their products is Lazada which aims to be the Amazon of Southeast Asia.

Original investors 90.00%
PLDT 10.00%
100.00%

Just a week later, United Internet also invested in Rocket Internet via new shares diluting PLDT’s share. Bummer. But hey, what can you do?

Original investors 80.70%
PLDT 8.60%
United Internet 10.70%
100.00%

Now the Rocket Internet IPO draws near. The IPO will be done via new shares which will further dilute PLDT’s share. Again Bummer. But hey, again what can you do?

Original investors 61.33%
PLDT 6.54%
United Internet 8.13%
Public 24.00%
100.00%

Well, I’m not doing anything. At the moment, that is. So maybe I can see how the IPO will impact PLDT’s value.

min mid max
IPO Price 35.5 39 42.5
Raised value (EUR B) 1.34 1.48 1.61
Existing value (EUR B) 4.26 4.68 5.10
Company Value (EUR B) 5.60 6.15 6.71
PLDT’s shares value (6.79%) 0.37 0.40 0.44
PLDT’s investment 0.333 0.333 0.333
0.03 0.07 0.11
Return 9.95% 20.79% 31.63%
Market Cap (PHP B) @close 9/29 690.00
Market Cap (EUR B) 12.04
Market Cap Impact 0.28% 0.58% 0.87%

It looks like the Rocket Internet investment is good (potentially 9.95-31.63%) but unfortunately it’s just a small part of PLDT’s overall asset portfolio and its post-IPO valuation will have little impact (0.28-0.87%). At the moment, that is.

PLDT’s investment includes strategic partnerships “to drive the development of online and mobile payment solutions in emerging markets” (that’s according to PLDT). That just might deliver dividends in the future that are not (yet) priced in.

0
General

Two iPhones and a Watch

By on Thursday, September 11, 2014

As widely expected, Apple announce the iPhone 6 at their September 9 event. Actually two iPhones. Specifications-wise, they’re actually average. So they’re quite disappointing to some (and always disappointing to Android fans). The features are pretty much normal for other (read: Android) phones. It doesn’t even have QHD (1440×2560) which some Android flagship phones like the LG G3 already have.

But Apple doesn’t usually go for bleeding edge technology for the sake of it. Why go beyond overboard with the pixels per inch (ppi) when you can make just the same (or actually much much more) revenue for less cost (of high-resolution displays). You probably can’t even tell the difference (I know I can’t) when holding the phone at normal usage distance.

Why use new technologies when they’re still unstable and potentially ruin the all-important user experience? Why offer 802.11ac when most installed routers and access points don’t support it? Why offer NFC when there’s no business case and corresponding strategy for it? But now they have Apple Pay, which was announced on the event.

But people are asking for bigger phones because of more media consumption (to quote a friend) and so they delivered a big phone and a bigger phone.

I do hope they will offer a smaller version for us who still like our things small and beautiful. Unfortunately, other than the display size and the NFC, the iPhone 6 and 6 plus are more incremental  improvements. So for now the iPhone 5s neatly fills in the slot for a small phone in the product range. That may show up on next year’s iPhone 6 upgrade or in two years on the iPhone 7 range.

But the big thing during the event was the now classic “one more thing”: the Apple Watch. It’s actually more of a fitness/health monitor with extra functionality which just happens to include telling time. Or you can also say it’s a watch because it watches your fitness/health :P In terms of the target market, it’s quite clear from the photos and videos they used: it is for the fashionable millennial fitness buff. And boy did they nail it!

The Apple Watch offers two case sizes (women’s and men’s), three case materials (stainless steel, aluminum, and gold) and a whole bunch of straps. Strap it on for the gym (or the route) along with the rest of your trendy gym wear, look fab doing your sets, and then go off to work and/or the coffee shop. If you’re still wearing your Apple Watch by then, even better. For Apple. Of course that would depend on the battery life on which Apple was silent. But if it’s better than the generally dismal battery life of most other, if not all, smartwatches, then Apple has a winner.

Most have known, or at least suspected that Apple is not just a hardware company, is not just a software company, but a lifestyle company. If you’re not convinced look at the iPod, the iPhone, U2, the iTunes festival, Beats, and now the Apple Watch which further reinforces that identity.

So a word of advice to Samsung and company: you’re not competing against a phone, you’re competing against a lifestyle. Good luck!

0
General

I’m A Dad Again!

By on Wednesday, September 3, 2014

Probably stressed by Jeanne’s surgery and ongoing recuperation, Michelle started getting contractions. Her obstetrician prescribed her a medication but the contractions wouldn’t let up. So she eventually had to be admitted to the High-Risk Pregnancy Unit (HRPU) of the hospital. But after 24 hours and even with all the medications, the contractions still wouldn’t let up.

Finally, the doctor decided to go for an emergency cesarean. Michelle’s dad took my place watching Jeanne while I went to Michelle to prepare for the birth. Unfortunately, I was nursing a cough so I decided not to go into the operating room. I’ll just have to content myself with photos. But unfortunately still, we didn’t have the DSLR with us. And my iPhone just so happened to be low on battery! So I grudgingly give the nurse Michelle’s Note 3 (ugh!) for taking photos of the birth. Oh well.

After a rather lengthy wait, the nurse came in with my daughter, Charlie (that’s shar-lee) Melisande. And again, since I had a cough, I couldn’t hold her in my arms. Still, I’m one happy puppy, or rather, dad!

0
General

Amazon Fire Phone

By on Friday, June 20, 2014

My first thought when I saw Amazon’s new Fire Phone was it looks like a midrange Android phone. And it is. My second thought was what’s up with all those cameras? What originally was rumored to be a 3D display turned out to be a regular 2D display with Dynamic Perspective which adjusts the display depending on what your head is doing. Kind of like the Kinect. That’s what all those cameras are for. And that’s one of the Fire Phone’s main or at least most visible features.

Then there’s Firefly which seems to be Google Goggles on steroids. Take a picture of pretty much anything and it will be recognized and offered for you to buy. A shopaholic’s dream. There’s also Mayday tech support on demand and a one-year subscription (or extension to existing subscribers) to Amazon Prime.

So why did Amazon come up with a phone? I think it’s because you use a Kindle e-book reader when you’re reading, a Kindle Fire tablet when you’re reading, watching videos, and other tablet stuff, and a Fire TV when you’re in the living room. But these days it is the phone that is with you practically all the time. That means more opportunities to shop. With Firefly. At Amazon. I think that’s really all there is to it.

So will the Fire Phone sell? Jeff Bezos apparently thinks so. He certainly hopes so. Because even if Amazon doesn’t usually plan to make money from its devices, it definitely wants users of those devices to shop at Amazon. And they can’t do that dangerously easy shopping if they don’t buy the Fire Phone.

But aside from easy shopping, which you can do less dangerously elsewhere, what else would make it compelling? As a phone, it’s a midranger and it’s not even really Android. Dynamic Perspective strikes me as a bit gimmicky. Mayday? You shouldn’t need to use it. Personally, I really can’t think of a compelling reason.

 

0
General

Kindle Paperwhite

By on Wednesday, June 18, 2014

kindle-paperwhiteSo I finally got my Kindle Paperwhite. It’s your regular Kindle Paperwhite Wi-Fi version with the notable difference that since it’s the Japan version, it’s got 4GB instead of 2GB to account for the popularity of manga I guess. But for regular books, that translates to twice the number, from 2000 to 4000, of books if you somehow have that many.

The e-paper display, for which the Kindle is known for, is definitely awesome. No glare or reflections at all. The background color is actually a greenish gray which is actually fine for reading. To get the paper white background color, you’ll need to turn on the built-in light which might impact the battery a bit. But it shouldn’t matter since it’s rated to last weeks instead of several hours with even the best tablets (iPads :P). A few hours, even days reduction shouldn’t matter much. And in exchange you get to read with a pleasing warm paper white background and read in darker environments. That’s quite fair enough.

The display is touch-sensitive and works well once you’ve gotten used to it. It is not as sensitive as the best tablets but definitely better than some of the others. Definitely sensitive enough for changing pages, which is the most common use. Since this is an e-paper display, refresh rates are not high and thus you change pages instead of scrolling. Scrolling is supported by the built-in experimental browser, but it’s not pretty. Still, in a pinch, it’s workable.

Of course it works awesomely with the Amazon bookstore. But a problem for me is how easy to buy something. I myself ended up with accidental purchases. This is offset somewhat by how easy to cancel a purchase. But I personally would prefer some authentication especially if kids are around. Another problem is that it’s a little harder to find the free books (yes, there are lots of them in Amazon) since they’re almost always mixed in with the paid books. But hey, that’s Amazon’s main business after all. And I’ve always been happy with them. Including with this e-book reader.

0