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...just 3% of global foreign direct investment flowed to sub-Saharan Africa in 2005. And most of the money has gone to only a handful of resource-rich countries like South Africa, Nigeria and Angola. Meanwhile, much of the continent remains desperately underdeveloped: only 22% of African households have access to electricity. That leaves plenty of opportunity for businesses to profit as the continent attempts to catch up. In recent years, for example, the number of mobile-phone subscribers in Africa has soared by over 50% a year. But Africa's dubious reputation is a huge obstacle to the development...
THREE: WALLED GARDENS The carriers continue to block access to their networks by mobile startups even as these innovators offer new ways to watch and share video, trade pictures, and use phones in new ways. "They control the industry but strangle innovation," says mobile industry consultant Chetan Sharma. They limit the things you can do with your phone. They want you to pay them for picture messaging, so they restrict independent providers of that type of service. They want you to buy ringtones from them, so they cut off growth and innovation in that mini-industry. They would prefer...
...innovation, thus the stale approach to voice-mail and other services. Google recently proposed an auction system that would enable new players to buy into the wireless spectrum, an idea that could open the door to the sort of competition in the mobile world that enabled the high-speed access offered by better Internet Service Providers to topple AOL's old stranglehold on its customers. The carriers argue that they have continued to innovate: "Over the last five years," says Verizon Wireless spokeswoman Brenda Raney, "wireless phones have gone from simple calling devices to multifaceted device entertainment and productivity tools...
...Typically, when the individual investor has access to what was a terrific returning investment, it's too late," says Anton Schutz, portfolio manager of the Burnham Financial Services and Burnham Financial Industries mutual funds. "Blackstone takes companies private, but they're going public - that's a message...
...Blacks. Instead of shying away from the appearance of conflict, Steyn positively revels in it. "Yesterday I was chit-chatting with Lord Black on the other side of the Chicago River far from the courthouse," began his Maclean's blog on June 8, reminding readers that his access to Black goes beyond the courthouse steps. In an e-mail interview with TIME, Whyte pointed out that Maclean's has published "stories and commentaries in addition to what Mark [Steyn] has produced -including... the deliberations of a mock jury that argued for conviction." But when the verdict comes down, Maclean...