Latest news with #IGNITEBITS
Time of India
a day ago
- Business
- Time of India
‘Pain in the a**': Bryan Johnson may shut down his anti-ageing startup Blueprint, says philosophy matters more than profit
File photo: US tech entrepreneur Bryan Johnson US tech entrepreneur Bryan Johnson , known for his $2 million-a-year quest to reverse ageing, is now considering shutting down or selling his biotech company Blueprint, calling it a burden he no longer wants to carry. 'Honestly, I am so close to either shutting it down or selling it,' Johnson said in an interview with American magazine Wired published Monday, adding, 'I don't need the money, and it's a pain-in-the-a** company.' Blueprint, Johnson's anti-ageing startup, markets itself as a system for longevity, offering supplements, biometric tests, and plant-based nutrition products like a $55 'longevity mix' and $42 mushroom coffee alternative called 'Super Shrooms.' But despite the company's bold pitch, Johnson now says the commercial venture is interfering with his broader ideological mission. Johnson believes running a health-focused company has undermined his credibility in advocating for what he sees as a deeper philosophical movement. 'The problem is now people see the business and give me less credibility on the philosophy side,' he said in the interview. 'I will not make that trade-off. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Career Help with IGNITE BITS Pilani Digital Apply Now Undo It is not worth it to me. So yeah, I don't want it', he added. The 47-year-old launched Project Blueprint in 2021, an intensive anti-ageing regimen that includes dozens of daily supplements, strict calorie tracking, and sleep monitoring. At one point, Johnson transfused blood plasma from his teenage son, though he later stopped the practice, saying there were 'no benefits detected.' Earlier this year, The New York Times reported that Blueprint was missing its monthly break-even point by at least $1 million, citing internal documents and interviews with staff. Johnson did not address the financial specifics in response to the Times, but said the report was inaccurate. 'They painted it like we are in some kind of emergency financial situation. That is not the case,' he said. 'We are break-even... We've had profitable months, we've had loss months.' Johnson also pushed back on criticisms of Blueprint's use of confidentiality agreements. Multiple former employees, including a former fiancée, filed complaints with the National Labour Relations Board alleging overly restrictive NDAs. Johnson acknowledged the complaints but framed them in the context of his personal experiences with wealth. 'When I made that money, I did not understand what it means to have money and how it fundamentally changes your relationship with the entire world,' he said. Aside from Blueprint, Johnson has turned his focus to a new project, launching a religion. In March, he announced the formation of 'Don't Die,' a movement aimed at redefining humanity's existential priorities in an age of AI. As per Wired, the religion is rooted in a belief that the highest virtue is existence itself. 'I'm not arguing for immortality. I'm not arguing for utopia,' he said. 'We as a species, our existence is at risk... The single thing we have in common is that nobody wants to die right now. That's it.' Johnson believes his message is incompatible with running a commercial venture. 'Companies come and go. Religions have endured for millennia,' he said, adding that Blueprint started simply because friends asked for the supplements he was taking. Now, he says he's ready to walk away. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
16-07-2025
- Business
- Time of India
Saudization explained: What it means for jobs, expats, and employers in Saudi Arabia
Saudization promotes hiring Saudi nationals across private sector industries under Vision 2030/ Represenatative Image TL;DR Saudization ( Nitaqat ) is a national policy requiring companies to hire Saudi nationals. Businesses are ranked by how well they meet set quotas based on size and industry. While expats face stricter competition, skilled professionals are still valued and needed. Saudi Arabia is facing a generational shift in how its workforce operates. For decades, the country leaned heavily on foreign workers, especially in the private sector. But that's changing. With over half the Saudi population under 35 and unemployment among nationals a growing concern, the government is actively working to change the balance. This shift is being driven by Saudization, officially called the Nitaqat program. It's part of a larger plan, Vision 2030, to diversify the economy and create more opportunities for Saudi citizens. At its core, Saudization is about getting more locals into private sector jobs, especially in industries that have long depended on expats. Under this system, companies are required to hire a specific number of Saudi nationals, based on their size, sector, and existing workforce. The policy is mandatory and comes with real consequences, both incentives for compliance and penalties for falling short. For companies, this means rethinking how they hire. For expats, it means being more strategic about where and how they fit into a changing job market. What Is Saudization? Saudization is a government program that sets hiring quotas for Saudi citizens within private companies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Career Help with IGNITE BITS Pilani Digital Apply Now Undo It was introduced by the Ministry of Human Resources and Social Development to tackle unemployment among Saudi nationals and build up the country's local workforce. Unlike many public sector jobs, which already employ large numbers of Saudis, the private sector has long relied on expat labor, particularly for technical, administrative, and service roles. Saudization is focused on this part of the economy. Linked to Vision 2030 Goals: The broader objective is to reduce unemployment to 7% by the next decade (from a high of 12.9% in 2018). It also supports Saudi Arabia's efforts to build a more resilient, knowledge-based economy. How the Nitaqat Classification Works Six Tiers Based on Compliance: Private companies are placed into six zones depending on how many Saudi nationals they employ relative to their total workforce: Platinum- Highest level of Saudization High Green- Above average Medium Green- Compliant Low Green- Below target Yellow- Minimal compliance Red- Non-compliant Why It Matters Companies in higher zones (Platinum, High Green) get benefits such as quicker visa processing, easier labor approvals, and priority in certain government services. Lower-zone companies (Yellow, Red) face delays, hiring restrictions, and even fines or suspension of services. Who Needs to Comply? Companies with 10 or more employees must follow the classification system. Smaller companies are not exempt, they must still hire at least one Saudi national. Saudization Rules in 2025 As of 2025, the Saudization program is being updated with stricter enforcement and more targeted sector-specific requirements. For example: In retail and customer service, Saudi nationals are required for front-line roles. HR departments must be led by Saudi managers. Sales roles in women's clothing stores must be filled by Saudi women. Some sectors, like aviation, hospitality, and IT, now have sub-quota requirements for specific job titles. The Ministry updates the quotas annually, so companies need to stay informed or risk slipping into a lower compliance category. Jobs Reserved for Saudi Nationals Some roles are now fully restricted to Saudi citizens. These positions are not open to expats, regardless of their qualifications. Examples include: HR roles: Executive HR Manager, HR Director, Payroll Officer Customer-facing jobs: Call Center Clerk, Reservation Agent, Cashier Specialized roles: Air Traffic Controller , Meteorologist, Dispatcher Sales roles: Sales specialist (especially in women-only stores) Clerical work: Tourist Info Clerk , Complaint Clerk, Booking Agent The list of restricted jobs grows each year as the government expands the Saudization policy into more fields. What It Means for Expats Saudization encourages companies to prioritize hiring Saudi nationals, especially in roles where local talent is increasingly available, such as HR, administration, and customer-facing services. This means hiring decisions now take national employment goals into account more than before. But this shift doesn't close the door to expats. In fact, professionals with specialized skills are still in high demand, particularly in industries where expertise remains scarce locally. These sectors include: Engineering Healthcare Technology and software Education Senior management Saudi Arabia continues to attract experienced professionals who bring value through technical skills, leadership, or global experience. As the job market becomes more focused and selective, expats who offer unique capabilities remain key contributors to the country's growth. Similar National hiring efforts across the Gulf Saudization isn't unique. Other Gulf countries have introduced their own national hiring initiatives: Emiratization (UAE): Encourages companies to hire Emirati nationals, with increasing mandatory quotas. Omanization (Oman): Targets replacement of expats with Omanis, especially in oil, banking, and telecom. Qatarization (Qatar): Focuses on national employment in strategic sectors like energy and finance. Bahrainization (Bahrain): Aims to train and place Bahraini nationals in both public and private sectors. Each program has different levels of enforcement and industry focus, but they all reflect a broader regional trend: governments want their citizens more involved in shaping the economy. FAQs 1. Does Saudization apply to all companies in Saudi Arabia? Yes. All private sector companies are expected to comply, especially those with more than 10 employees. Smaller companies still need to hire at least one Saudi citizen. 2. What happens if a company doesn't meet Saudization quotas? Companies in the Red or Yellow zones may face restrictions, including blocked work visas, fines, and reduced access to government services. In serious cases, a business license can be suspended. 3. Can expats still find jobs under Saudization? Yes, but it depends on the industry and role. Expats with strong qualifications in sectors like engineering, tech, and healthcare are still needed. However, roles in admin, sales, and HR are increasingly going to Saudi nationals.
