Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding

He said Swiggy’s priority is a stable business with “the clearest line of sight to Ebitda zero,” and that it would not use its cash reserves to open new fronts simply because the money is available. “I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,” he said on the call following the announcement of the company's September quarter results.

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Meta ordered to pay New Mexico $25 billion after jury finds it deceived Facebook users about privacy

Jurors in September found Meta liable for over 43 million violations of New Mexico consumer protection laws when a political consulting firm, Cambridge Analytica, harvested Facebook user data to generate targeted political ads for the 2016 election.

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Explained: What is PHP and why did it take government websites offline?

The developers of PHP said on Wednesday they would release patches for two critical vulnerabilities, and EU cybersecurity officials warned organisations unable to apply the fixes to take affected websites offline. Here is what you need to know:

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Anthropic recorded net loss of over $80 billion in first half of this year

AI startup Anthropic recorded a net loss of more than $80 billion in the first half of this year, the Wall Street Journal reported on Tuesday.

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Netflix issues weak fourth-quarter forecast, shares drop

Third-quarter revenue rose 11.8% to $12.87 billion, in line with Wall Street forecasts, but the lowest rate of increase in nearly three years. The company forecast fourth-quarter net income of $2.79 billion and EPS of 67 cents, below the average analyst forecast of $3.07 billion and 73 cents.

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Rapido says man linked to Tiger Shroff shooting incident was not an active captain

Shroff, who was reportedly the target of the attack, escaped unhurt. In a statement posted on social media, Rapido said it was “deeply concerned” by the incident involving the actor and his team and was relieved that he was safe. It also wished him a swift recovery.

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Lab-grown diamond startup So/Facet raises Rs 10 crore led by Sauce

The round also saw participation from Mokobara cofounders Sangeet Agrawal and Navin Parwal, Chona Family Office (that’s behind Hocco Ice Creams), Haleon South Asia president Kedar Lele, and Moonshot co-founder Devaiah Bopanna.

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Netflix faces questions on user engagement ahead of third-quarter report

Ted Sarandos, the co-CEO of Netflix, recently admitted the company "is not growing as fast as I want us to", and suggested live programming could be an opportunity to accelerate growth.

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ISB programme explores AI’s growing role in the future of digital finance

The Executive Programme in Fintech and AI at ISB is crafted to equip finance professionals with cutting-edge skills in financial services. Spanning 32 weeks, this program offers live online sessions alongside engaging experiential learning. Participants will delve into real-world applications of fintech, artificial intelligence, and blockchain. Tailored for senior finance leaders, this course seeks to enhance strategic decision-making. Applications for the next cohort are now open, creating valuable networking opportunities.

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Samsung to use TSMC technology for Nvidia's next-generation memory chips: Report

Nvidia has asked Samsung, SK Hynix and Micron Technology to use TSMC's process for NVHBM base dies, and sixth-generation DRAM technology for its core dies, the newspaper said, citing industry sources.

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Only 8% of fund managers report improved investment returns from AI adoption: Report

Despite growing adoption of artificial intelligence (AI) in the global asset management industry, only 8 per cent of fund managers have reported measurable improvements in investment returns, according to a joint research report by Morgan Stanley and Oliver Wyman.

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