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John McAfee, From Tech Pioneer to Murder Suspect

The bizarre events that have unfolded in recent days almost beggar belief: John McAfee, the tech entrepreneur who pioneered anti-virus software, has gone into hiding.

Brian Patrick Eha

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He is a wanted man in Belize, the tiny Central American nation to which he retired in 2008.

McAfee, 67, had reportedly been tangling with Belizean authorities for months when his neighbour, fellow American expatriate Gregory Faull, was found murdered at home, shot once in the back of the head. Police immediately deemed McAfee a prime suspect and launched a manhunt for the eccentric fugitive.

A brief history of McAfee’s unique life and career follows.

1987: McAfee, a former NASA programmer and private-sector software designer, founds McAfee Associates, a company designed to fix computer bugs. He decides to create the company after his computer is infected with the Pakistani Brain virus.

1989: McAfee leaves Lockheed, where he had been working, to focus full-time on his company.

He offers his VirusScan anti-virus program as shareware – individuals and companies can download a free trial of the software, but must pay for licenses and continued use.

McAfee publishes a book, Computer Viruses, Worms, Data Diddlers, Killer Programs, and Other Threats to Your System.

August 1992: McAfee incorporates his company in Delaware, forming McAfee Associates Inc. At this time the company has 26 employees.

October 1992: The company goes public, selling 2.6 million shares and raising more than $40 million.

1994: McAfee resigns from his company, possibly due to continuing controversy over his statements about the Michelangelo virus, a computer bug that caused a scare in early 1992 after McAfee told reporters it could affect as many as 5 million machines.

He cashes out his company stock, making him a millionaire many times over. He relocates from Silicon Valley to Colorado, where he builds a house on a 400-acre forest.

Later that year, he founds Tribal Voice, a company that develops PowWow, an Internet messaging program that pioneers many of the features found in later chat programs.

1999: Tribal Voice, which faced fierce competition from larger companies AOL and Yahoo, is acquired by incubator CMGI. McAfee’s stake in the company is sold for an undisclosed amount.

2003: McAfee buys 1 000 acres in Hawaii on the island of Molokai for $1.25 million.

2005: Although he had insisted that he bought the Hawaii property for his family, he sells some of the land for development for $2.85 million, ignoring protests by locals.

2008: McAfee retires to Belize, settling on Ambergris Caye, a tiny island 36 miles off the coast. He builds a fenced compound and staffs it with armed guards.

2009: The New York Times reports than McAfee’s personal fortune, much of which was tied up in real estate and stocks, has fallen to about $4 million from a high of $100 million. He is said to be selling a property in New Mexico that he bought for the purpose of flying open-cockpit planes.

He also sells his remaining property on the Hawaiian island of Molokai for $1.58 million, well below the $3.7 million asking price for the beachfront estate.

February 2010: QuorumEx, a new venture by McAfee headquartered in Belize, launches. Its purpose is to develop commercial antiobiotics.

August 2010: Intel agrees to acquire McAfee Inc., the computer security company which still bears its founder’s name, for $7.68 billion. The sale is finalised in February of the following year.

2012: One of McAfee’s properties is raided by the Belize police force’s Gang Suppression Unit and he is arrested, but not charged, on suspicion of making crystal meth and possessing unlicensed firearms. In the raid, he is reportedly pulled from the bed of his 17-year-old girlfriend.

May 2012: Joshua Davis of Wired begins an in-depth investigation into McAfee, gaining exclusive access to his residence in Belize and conducting numerous interviews with the reclusive millionaire in person and by phone. Davis’s investigation is later published as a 13-chapter ebook.

November 2012: McAfee’s neighbour, Gregory Faull, is found shot to death in his home. McAfee goes into hiding, knowing he is wanted by police for questioning in connection with Faull’s death.

He launches a website, The Hinterland, to post communications while on the lam, including an approximately USD$12 000 reward offer for anyone who can identify Faull’s killer. The blog is administered by cartoonist Chad Essley, who is creating a graphic novel of the same name about his “unusual friendship” with McAfee.

At the time of writing, McAfee, who protests that he is innocent of all charges, is still at large. His exact whereabouts are unknown.

Brian Patrick Eha is an assistant editor at Entrepreneur.com and a trustee of the New York City chapter of the Awesome Foundation. He has written for The New Yorker, The Atlantic, CNNMoney, Outside, the Los Angeles Review of Books and other publications. He holds a master's degree in journalism from Columbia University.

Entrepreneur Today

Future Proofing Children In The Western Cape

Through entrepreneurial education.

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The education system in South Africa is responsible for preparing children to build successful lives.  They should be prepared for the wide range of possibilities that lie ahead of them. There are many who believe that entrepreneurship is a trait that you are born with and that it can’t be taught.  This is simply not true.

Most schools nowadays teach Business Studies, Business Management or Economics to students. The sad reality though, is that while this subject does indeed focus on the ins and outs of starting and managing a business, it does not teach our ambitious young children and teenagers what it really means to be an entrepreneur. It does not teach them which of their personality traits and characteristics they should be aiming to hone in on. They don’t learn about the experiences and failures of ‘first hand’ entrepreneurs – all our coaches are entrepreneurs themselves and running their own businesses, with some success and some failure – who believe it or not, not all performed actually well at school!  Or how to look for problems as opportunities and that a business can be made from doing this.

Related: Plan My Wedding Share 5 Fantastic Tips To Win Over The Shark Tank

Recently myself, Jason Newmark (Co-founder and director of Future Proof Western Cape) & lead coach Lana Sinclair, spent 3 days in the Bredasdorp community of the Western Cape, with children between the ages of 9 and 11, from 5 disadvantaged schools attending, under the initiative of NGO organisation, Education Connection and Managing Director, Marius Stolz, introduced the children to the 4-lesson initiative that we at Future Proof have been rolling out around the country.

One of the core focuses of the 4 lessons, is how children can start identifying problems that surround them and the opportunities it can lead to, by starting a business and getting paid to do it.  The second lesson focuses and helps these children to create a one page business model canvas that kids are able to put their ideas down and more importantly something they can implement immediately when they go back to their communities.  On the canvas the children are put into groups, where they discuss and identify which problem/opportunity they are going to implement, and they write it down on the middle of the page.  The page is then divided into 4 quadrants – Customers, Stuff, Tell People and price.

The children are then demonstrated through activities, and real life experiences and knowledge of how to firstly find customers.  This exercise is done by hanging apples in trees (low hanging fruit) in various locations.  Children are then told to try and get as many as possible and then return to the meeting area.

Once all apples have been collected children are then asked: ‘Why did they go for the apples that they did?’  There are usually a whole host of various answers, but the end answer they usually come to is ‘ they went for the quickest and easiest apples’.  The activity learning outcome is then show to them, that they need to think of apples as your customers, you need to always try get to the quickest and easiest customers, not the ones far away or that are hard to get to and you need to be faster than anyone else! And that the first thing you need to start a business is a customer! If you cant find customers first, then you cant run a business. Children are then asked to write down who there ‘apples’ are for their problem and opportunity they are using as their business idea. The kids are then guided through the other 3 quadrants on what ‘stuff’ (inventory) they will need, how they will ‘tell people’ (marketing) and what price they will charge for their business.

Related: 6 Steps To Grow A Funding Ready Start-up

Its incredible the ideas the kids come up with and the little lightbulbs that go off once this lesson is over and they know how to actually start a business. The concepts we show them are taught in Harvard Business school, yet when broken down into their simplest form, children are able to easily understand them – its incredibly inspiring and more importantly effective and these kids now have this tool to use to start a business and how to start looking at problems as opportunities and what to do when they identify them’

All 4 lessons are activity based, where kids are shown to ‘think’ like entrepreneurs, how to start a business, cashflow & mentors/networks.  With these tools, skills and real life experiences given to them from the entrepreneurial coaches that teach these lessons, shows how easy it can be to get these concepts and learnings into children behaviours while they are still young and can learn to fail and succeed from a young age, and more importantly how to maintain the right mindset (lesson 1) to be able to deal with these failures as they go through life.  A stark contrast to teachers teaching Business Studies and economics?  Isn’t this something all children in South Africa need to be learning?

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Entrepreneur Today

More South Africans Choosing EB-5 Investment Visa For US Immigration

Demand by South Africans for EB-5 Investment visa grows to 500% over past three years.

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Families from around the world have gained permanent residency in the United States through the EB-5 investor green card program.  With the South African economy entering its first recession since 2009 and the value of the Rand falling 20% in 2018, more and more South Africans are seeking alternate permanent residency in foreign countries.

Industry data reveals that South African demand for this program is the highest it has ever been, with a 486% increase in the number of EB-5 petitions filed by South Africans over the past three years.  This huge growth in demand is the highest among European, Middle East, and African countries.

“Most EB-5 investors are seeking opportunities for their families and children in the US that offer excellent education, career, and quality of life options,” said Bernard Wolfsdorf, former President of the American Immigration Lawyers Association who grew up in Durban and immigrated 40 years ago.

The EB-5 program requires an “at risk” investment of $500,000 into a project that creates 10 full-time jobs for Americans. This provides investors (and their spouses and unmarried children under the age of 21) permanent residence in the US. As a job creation program with an immigration benefit, the EB-5 program has brought in billions of FDI over the past decade and has helped created tens of thousands of jobs for US workers.

However, time may be running out for South Africans to take advantage of the EB-5 visa program at the current investment levels, as proposals to increase the minimum investment amount from $500,000 to $1,350,000 have been pending since January 2017, waiting for final implementation. These changes could occur as early as December 7, 2018, the date that the budget for the US federal government was extended to last week by President Trump.

Related: How I Run An International Business From A Remote Beach Town In The Eastern Cape

Below are 5 things to consider about the EB-5 program.

1. What are the benefits of a green card?

A green card allows one to live, work, and study in the United States permanently. In contrast to other work sponsored green cards, the EB-5 provides the maximum career flexibility immediately upon arrival in the US. Children who receive green cards with their parents are able to apply to universities on the same footing as American citizens, rather than as foreign students. They often qualify for lower in-state tuition at public universities and have an easier time finding a job after graduation. Green card holders become eligible for citizenship 5 years after becoming a permanent resident.

2. Who is my immigration attorney?

Not all US immigration attorneys specialise in preparing EB-5 green card applications.  It is important to work with an experienced attorney who can guide you through each step of the EB-5 process.  Investors should also work with an immigration attorney who only represents their interests – not the interests of the EB-5 project.  This ensures there is no conflict of interest.

3. What project should I invest in?

Most EB-5 investments are in real estate development projects, but there are many different projects on the market to choose. Investors must conduct thorough due diligence on the project and should consult their financial advisors before choosing an EB-5 investment. Investors must feel confident that the US company will be able to execute its business plan and create the jobs needed to support EB-5 petitions. Additionally, the U.S. company should have a clear exit   strategy in place to ensure that EB-5 investors are repaid their capital investment at the appropriate time.

4. What do I need to prepare?

Investors must document the lawful source of their $500,000 investment.  An immigration attorney will help strategise the required documentation. This usually includes tax returns, bank statements, employment records, and property records. Investors should consult an experienced international tax advisor to discuss how US green card status can affect tax liability, and determine the appropriate tax strategy.

Related: Opening An International Business In SA – Renny Letswalo Shares Her Story

5. When do I have to move to the US?

Based on current processing times, it takes approximately two and a half years for an EB-5 applicant to receive a green card.  Once a green card is issued, lawful permanent residents are expected to make the US their primary residence, but they retain the ability to travel freely outside of the US, and special travel documents can be obtained if longer absences are required.

As South Africa has become a reasonably-sized market for EB-5 investment, more “Regional Centres” will be marketing their EB-5 investment projects in the coming year, further increasing the number of immigrant investors from South Africa.

Attorney Robert Blanco will be in South Africa from November 13-19. If you would like to schedule a no-cost consultation to discuss the EB-5 visa option, please contact him at rblanco@wolfsdorf.com.

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Entrepreneur Today

Old Mutual Committed To Empowering South African Entrepreneurs

South African small and medium-sized enterprises (SMEs) looking to take their venture to the next level will get a chance to network with big business – such as the likes of Old Mutual – at Global Entrepreneurship Week, currently running from 12 – 16 November 2018 at the Enterprise Room in Rosebank, Johannesburg.

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Global Entrepreneurship Week is an annual celebration of the innovators and job creators, who launch start-ups that bring ideas to life, drive economic growth and social inclusivity.

According to the Banking Association of South Africa, SMEs have been identified as productive drivers of inclusive economic growth and development in South Africa, as well as globally. Some researchers have estimated that the local SME sector makes up 91% of formalised businesses. The sector also provides employment to an estimated 60% of the labour force and accounts for around 34% of Gross Domestic Product (GDP) in total economic output.

Old Mutual has been actively working to empower SMEs for more than a decade through structured programmes and vehicles designed to provide both the financial – and non-financial – support that is critical for success. This focus on creating both business and societal value means that the company continues to invest in creating opportunities for all South Africans.

The company’s innovative Enterprise and Supplier Development Fund works to create opportunities for small businesses to become integrated into Old Mutual’s supply chain, creating sustainable partnerships of mutual benefit. In addition, Old Mutual’s Masisizane Fund offers SMEs operating in the manufacturing, franchising and agricultural arenas a mix of grants, loans and technical support, to enable them to gain vital market access and create jobs.

Collectively, these two small business empowerment funds have approved over R750-million in funding to small businesses across the country, having already disbursed close to R600-million, while creating more than 8330 job opportunities in the process.

Related: 10 SA Entrepreneurs Who Built Their Businesses From Nothing

Old Mutual recognises that funding alone is not the key catalyst for growth where SME development is concerned, which is why it also offers a range of non-financial support option to SMEs both pre and post investment. This includes SME training in financial education, as well as business support in the form of technical mentorship, financial management tools and advice, as well as bespoke accounting services.

Old Mutual will be hosting a special session at Global Entrepreneurship Week on Wednesday 14 November 2018 titled “Doing Business with Old Mutual” at which SMEs looking to connect with the company can get more information on its unique empowerment and development programmes.

Entrepreneurs can get more information on Old Mutual’s small business empowerment programmes here:

Enterprise and Supplier Development Programme:

Supplierdevelopment@oldmutual.com or 011 217 1000

Masisizane Fund:

Via the Old Mutual Website at www.oldmutual.co.za/masisizane

Email: MasisizaneEnquiries@oldmutual.com or call 011 217 1000

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