Malgorithms (emerging markets version)
Private Eye, the venerable UK satirical newspaper, runs a regular feature called Malgorithms highlighting embarrassing juxtapositions on newspapers’ websites caused by computer-generated advertising.
Former frontier specialist Exotix might do well to take note. The firm’s web page, recently relaunched as part of its rebranding as a developing markets investment bank, now features rolling news headlines from publications in emerging markets.
Most of these, appropriately, relate to economics, politics or markets stories. On a recent visit to the page, however, Euromoney found a slightly surprising anomaly. Headlined ‘Nigerian man buys his lovely wife a brand new Range Rover’, the article from Information Nigeria featured no fewer than seven photos of the “as yet to be identified man” with his baby, his wife and the vehicle in question.
His reason for buying the car, according to the copy, was that his wife had stood by him when he had nothing. “She dated me and held on tight even when I didn’t have my own place to stay.”
A heart-warming story for Exotix’s institutional clients – or a warning of the dangers of reliance on technology? You be the judge.