The prime reason that made Somali's a very entrepreneurial business savvy people was group investment based on qabiil's in our older generation, no VC or bank loans ever needed to get a business of the ground or buy them out, this reminds of the story below of the guy developing trucking software APP without needing to sell precious equity of his business to a VC or get a bank loan bogging himself down with debt which every other average person would have been forced to do, true old Somali spirit you'll see below is dying today.
http://www.hiiraan.com/news4/2016/Mar/1 ... tware.aspx
The younger generation growing up LACK this in major way's, the biggest problem which many of you probably see as a positive is that they don't know anything about Qabiil, which is the most powerful vehicle of trust in such endeavours safeguarding you from thieves and swindlers, I have seen so many young guys who wanted to go the start-up route but when doing the number crunching simply wasn't worth it because they will give up most of there business to VC sharks for funding, take on interest heavy debt against the religion, they were flabbergasted when I suggested the old traditional methods our fathers used to get rich
"World remit" is an example of Somali company got VC funding to the tune 140 million in 2 rounds, including seed round funding to get it of the ground initially as it had no money to start, the guy no longer owns the lion share as a result, instead had he gone the old traditional route and slowly built things from the ground up, he would have had majority ownership with the rest divided among his clan or other Somali investment group, keeping the cashflow with the family.
This spirit is dead today with the younger generation and replaced with individualism and the above, gone are the days where ordinary people came together to invest together in all sorts and becoming wealthy as a result (it just takes 1 good investment make up for all losses), even our own big companies like Dahabshiil and Hormuud have become worse then VC sharks asking for 50% equity when Somali's come to them for investment as I have heard many times, they are not the only ones.
If something doesn't change, the next generation will end up being the poorest, a group of people that only pick up a pay check every month which they waste before the next month rolls in! We had our own kick-starter well before the website came up! I suggest we develop our own crowdfunding, if there is enough interest & traction I'll put all the money and put everything together, the opportunities are so vast to make a lot of $$$ like our older generation, if we get our fingers out of our ***
