Seeing the same store being listed multiple times on the buyer app is not a great experience from a user perspective, they say.
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Tuesday, October 31, 2023
Biden administration aims to cut AI risks with executive order
The order, which he signed at the White House, requires developers of AI systems that pose risks to US national security, the economy, public health or safety to share the results of safety tests with the US government, in line with the Defense Production Act, before they are released to the public.
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from Tech-Economic Times https://ift.tt/SAK30IW
Google's Sundar Pichai says tech giant has improved the web for all consumers
Testifying on Monday in Google's landmark antitrust trial, Pichai directly contradicted the Justice Department's claims that his company's huge payments to companies such as Apple to be the default internet search option on their popular devices represent its unchecked monopoly power.
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from Tech-Economic Times https://ift.tt/zjkUIAK
Telegram to ban channels that called for anti-Semitic riots in Russia's Dagestan
The popular messaging platform Telegram will block channels that called for anti-Semitic violence in Russia's Dagestan region, Telegram founder Pavel Durov said on Monday.
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Monday, October 30, 2023
Tech Mahindra eyes Dec-Jan release of Hindi LLM under ‘Project Indus’
While talks have not yet begun, Tech Mahindra is considering partnerships for compute power, whether it is with Nvidia for GPUs (graphics processing units) or with hyperscalers. It is exploring techniques of quantisation and model compression, but also looking for partners for tensor networks, which can aid model compression.
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from Tech-Economic Times https://ift.tt/m9SzeDb
NPCI stepping in to stop AePS frauds, suggests ways to banks
The retail payment body which runs AePS wants banks to explicitly seek customer consent regarding this service at the time of account opening.
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70-hour workweek par for course for Indian startup founders
ET spoke to over half-a-dozen founders of early-stage startups to unicorns, who said that if one is looking to build something big and impactful, they need to stretch that extra mile.
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VCs rope in Deloitte to work with Groyyo to shut its B2B trading business
New York-based investment fund Tiger Global is also believed to be engaging with another Big 4 audit firm for a potential forensic audit of Groyyo. However, it is not clear if that's been finalised yet.
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from Tech-Economic Times https://ift.tt/DtL5AbB
Sunday, October 29, 2023
Google investigating multiple profile update bug found in Pixel phones
The problem was faced mostly by Pixel 6 owners as soon as the Android 14 update started rolling out. According to reports, the problems ranged from missing apps to being locked out of internal storage on one of users' devices.
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Elon Musk says Starlink to provide connectivity in Gaza for aid organisations
Musk said in a post on social media platform X that it was not clear who has authority for ground links in Gaza, but we do know that "no terminal has requested a connection in that area".
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from Tech-Economic Times https://ift.tt/9YoNXrE
VinFast begins shopping for land to drive into the EV market in India
Vietnamese electric vehicle maker VinFast Auto is evaluating potential sites for its upcoming manufacturing facility and has already reviewed two locations in Tamil Nadu, people aware of the developments told ET.
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Saturday, October 28, 2023
Elon Musk's X launches two new premium subscription plans
The Premium+ plan, priced at about $16 per month, includes all the tools and features offered by the platform, minus the ads, the company said in a post on the platform.
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Amidst a funding winter, large startups show healthier balance sheets; and other tech stories this week
While some startups have shown profits, even those who haven’t been able to get into the black yet reported strong revenue and Ebitda numbers.
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Churn on: Tata Digital loses another senior executive
Subramanian was formerly travel firm Cleartrip's head before joining Tata Digital in November 2021. He is considering setting up his own venture but it is not finalised yet.
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How Elon Musk changed the meaning of Twitter for users
It has been one year since Elon Musk bought Twitter. Since then, the meaning of the social media service has changed — sometimes drastically — for many of the people who use it.
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Friday, October 27, 2023
Google develops AI prototype to spot misinformation, abusive content online
Google on Thursday said it has developed a prototype that leverages recent advances in Large Language Models, or LLMs, to assist in identifying content abusive at scale.
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from Tech-Economic Times https://ift.tt/RWbchep
Mamaearth parent sets IPO price band; Meta's ad biz boosts Q3 profits
Mamaearth parent Honasa Consumer has set a price band of Rs 308-324 per share for its upcoming initial public offering (IPO). This and more in today’s ETtech Top 5.
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Thursday, October 26, 2023
Making content more accessible for disabled: OTTs
The OTT service providers were responding to a letter sent by the ministry of information & broadcasting (MIB) last month. The ministry had written to two industry bodies that represent these companies after the Delhi High Court issued an order to make films and other content accessible to persons with disabilities.
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Amazon analysts expect same-day delivery to boost margins in Q3
Same-day delivery is now offered in at least 90 cities, free for Prime members while non-members pay $9.99. The retailer invested heavily in 2020 and 2021 in logistics to make same-day delivery, which it introduced in 2015, available in more places.
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from Tech-Economic Times https://ift.tt/4Tg90Gn
White House to unveil AI executive order on Monday: report
The order would require "advanced AI models to undergo assessments before they can be used by federal workers", media reports said.
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Amazon rolls out AI-powered image generation to empower advertisers
Amazon Ads has started rolling out image generation to select advertisers and will expand availability over time.
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from Tech-Economic Times https://ift.tt/9MgRok8
Wednesday, October 25, 2023
Instagram testing feed only for paid verified users
Instagram head Adam Mosseri said that the company is "exploring this as a new control for people and a way for businesses and creators to get discovered".
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Amazon rolls out passwordless sign-ins for users on iOS and web
Amazon is rolling out passkey support on browsers and mobile shopping apps (iOS users), making it easier and safer for the customers to access their accounts with passwordless sign-in.
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from Tech-Economic Times https://ift.tt/DHYaidC
Tuesday, October 24, 2023
Top IT companies boost margins amidst market struggles
To be sure, Infosys, HCLTech and Wipro have slashed their revenue guidance for the upcoming quarter and full fiscal amid a freeze on tech spends and delay in decision making.
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Martin Goetz, who received the first software patent, dies at 93
In 1968, nearly a decade after he and several other partners started the company Applied Data Research, Martin Goetz received his patent, for data-sorting software for mainframes. It was major news in the industry: An article in Computerworld magazine bore the headline "First Patent Is Issued for Software, Full Implications Are Not Known."
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Monday, October 23, 2023
Deep tech, AI, Quantum Ventures lead Peak XV Surge’s ninth cohort
Peak XV Partners' scale-up programme Surge has chosen 13 early-stage startups for its ninth cohort, focusing on deeptech, artificial intelligence, advanced manufacturing, and quantum computing. Surge has shifted its sectoral mix to more advanced technologies from consumer brands and vertical ecommerce.
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from Tech-Economic Times https://ift.tt/bXTaQ54
All credit to festive season, digital lenders eye more business
The digital lending industry in India is expecting a quick rebound in business during the festive season. Fintech lenders are well-prepared to meet the heightened credit demand, with stronger and profitable balance sheets. Digital lending platforms anticipate an average increase of 15-20% in disbursals during the festive period.
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Indian IT companies likely staring at slowest growth since start
For the country’s fourth-largest IT services provider Wipro, growth numbers are down to their FY99 levels.
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WhatsApp Business tests new 'quick action bar' feature on Android
Currently, the quick action bar feature is available to some beta testers who install the latest versions of WhatsApp Business beta for Android, and it will roll out to more people over the coming days.
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from Tech-Economic Times https://ift.tt/MFKsTer
Sunday, October 22, 2023
49% of teachers not prepared for AI impact, need urgent support: Report
As artificial intelligence (AI) becomes all-pervasive, at least half (49 per cent) of the teachers feel unprepared for its impact, saying more must be done to empower and help them prepare students for an AI-enabled future, a new report has revealed.
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SpaceX aims for 12 launches a month as it eyes satellite-based phone service
Elon Musk-run aerospace company SpaceX aims for 12 launches per month, or one launch in less than three days, the media reported.
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Foxconn subsidiaries faces tax audit, land use probe: report
China's natural resources department conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places
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Web Summit CEO resigns after comments on Israel-Hamas conflict
Web Summit Chief Executive and founder Paddy Cosgrave resigned on Saturday after comments he made on the Israel-Hamas conflict prompted some technology companies and investors to withdraw plans to attend its conference in Portugal next month.
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from Tech-Economic Times https://ift.tt/HvzMK65
Saturday, October 21, 2023
New playbook: Online gaming companies, brands target offline streaming in India
Gaming companies such as Krafton, Nodwin Gaming and Jio Games along with brands such as iQOO, Lenovo and Red Bull are investing large sums of money in offline streaming of popular esports leagues in physical arenas across India.
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New-age brokers ride on futures option to the bank
But the question remains with Sebi becoming careful about the sudden spurt in retail participation in this risky trading segment, how long will the party last?
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from Tech-Economic Times https://ift.tt/kjDXG9N
Apple's new film strategy debuts with 'Killers of the Flower Moon'
Until now, Apple's films were streaming-first. But "Killers of the Flower Moon" won't reach its streaming service, Apple TV+, for at least 45 days. It is Apple's clearest embrace of movie theaters since the start of Apple TV+ four years ago, and the first of three major theatrical releases from the company scheduled for the next six months.
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Friday, October 20, 2023
Paytm Payments Bank disables international transactions on debit cards
This move comes at a time when Paytm Payments Bank is not being allowed to onboard fresh customers by the Reserve Bank of India.
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from Tech-Economic Times https://ift.tt/spgfUyu
As Google pushes deeper into AI, publishers see fresh challenges
Since May, Google has begun rolling out a new form of search powered by generative AI, after industry observers questioned the tech giant's future prominence in providing consumers with information following the rise of OpenAI's query-answering chatbot, ChatGPT.
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Thursday, October 19, 2023
Celesta Capital to play on front foot on startup investments
India is the most interesting place after Silicon Valley and it is an exciting time for India’s startup ecosystem, Kumar said.
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Showroom B2B raises $6.5 million in funding led by Jungle Ventures
The latest round of funding will help scale the company’s experience store model across Tier II and III markets in India, as per a statement. These stores facilitate access to garment samples and catalogues for fashion retailers and wholesalers.
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AWS previews customisation ability of coding assistant CodeWhisperer
Amazon CodeWhisperer is an artificial intelligence (AI) coding companion that generates real-time single-line or full-function code suggestions for developers.
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from Tech-Economic Times https://ift.tt/gI5DSrd
Wednesday, October 18, 2023
LTTS Q2 results: Net profit up 5.2%, revenue up 4.6% YoY
In line with larger peers, Infosys and HCLTech, the company has also slashed its revenue growth guidance for the fiscal from 20% to 17.5-18.5%, due to “delayed decision making”.
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Tuesday, October 17, 2023
US tackles loopholes in curbs on AI chip exports to China: official
The new rules will be added to sweeping US restrictions on shipments of advanced chips and chipmaking equipment to China unveiled last October.
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from Tech-Economic Times https://ift.tt/wmU8bNW
Tether freezes $873,000 in crypto linked to 'terrorism and warfare' in Israel and Ukraine
Tether did not provide details of the owners of the addresses, when they were frozen, nor the nature of their activity. It also did not provide a breakdown of the split between Ukraine-related and Israel-related addresses.
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Monday, October 16, 2023
Ecommerce festive sales off to a bright start on deep discounts
Brands and ecommerce platform executives said they have seen a better-than-expected start to festive season sales at the end of the first week, with deep discounts, shaking off concerns around an impact from the ‘Shradh’ period, which lasted till October 15.
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from Tech-Economic Times https://ift.tt/elAhK2u
Flipkart claims 1.4 billion customer visits during Big Billion Days sale
Flipkart claimed that the artisan community, onboarded under its Samarth programme, observed a six-fold growth compared to the pre-festive period.
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from Tech-Economic Times https://ift.tt/IMc3t40
Sunday, October 15, 2023
Assam youths develop AI-driven traffic management platform for drones
Avgarde Systems Pvt Ltd (AVGARDE), cofounded by Manash Bhuyan and Nilutpal Choudhury in 2018, is a startup incubated at IISc Bangalore, and IIT Guwahati. It is a radio frequency and wireless technology-focused deeptech start-up building an AI-driven object sensing platform for low-altitude airspace management.
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from Tech-Economic Times https://ift.tt/XSV6k5Z
Global AI guidelines 'normative', unclear about implementation, say researchers
To determine if a global consensus existed regarding the use of artificial intelligence (AI), the researchers identified and analysed 200 documents related to AI ethics and governance published between 2014 and 2022 from 37 countries and six continents and written or translated into five different languages - English, Portuguese, French, German and Spanish.
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from Tech-Economic Times https://ift.tt/6KATifV
How UPI tips the scale against hotel staff
Guests widely shifting to online payments is threatening tip culture, hurting employees’ income
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from Tech-Economic Times https://ift.tt/5oXZCbl
Online deceits and AI are making the truth a casualty of war
The war between Israel and Hamas has spawned so much false or misleading information online -- much of it intentional, although not all -- that it has obscured what is actually happening on the ground.
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from Tech-Economic Times https://ift.tt/MCzbZ0J
Saturday, October 14, 2023
EV scooter makers deposit customer refunds; IT firms see dip in hiring
Four e-scooter makers have deposited part of the over Rs 300 crore they have to refund to buyers for mispricing their ebikes to avail of subsidies.
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from Tech-Economic Times https://ift.tt/bxou6QO
Stablecoin Tether appoints chief technology officer Ardoino as CEO
Tether issues a stablecoin, also called Tether, which is designed to maintain a 1:1 dollar peg and is widely used in crypto-to-crypto trading.
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Friday, October 13, 2023
Lens on payment firms seeking aggregator tag
In the payments business, access to sensitive data needs to be monitored and many payment companies do not have such access controls, or do not maintain proper audit checks. The regulator wants fintechs to be serious about these aspects of business before they are issued a licence.
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from Tech-Economic Times https://ift.tt/421awb3
Sam Bankman-Fried trial: confidant Caroline Ellison faces cross-examination
Ellison said through tears that she lived in "dread" the truth would come out, and that FTX's ultimate collapse last year brought an "overwhelming feeling of relief."
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47% of Indians to surpass Rs 10,000 in festive spending this year: ShareChat & Moj festive report
This year, the platforms said home improvement has made a strong entry into the top three product categories that Indians are likely to spend on while clothing and mobile phones continue to dominate the purchase categories.
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Caltech ends high-stakes US patent fight with Apple and Broadcom
Pasadena, California-based Caltech sued Apple and Broadcom in 2016, alleging that millions of iPhones, iPads, Apple Watches and other Apple devices using Broadcom chips infringed its wireless-communication patents.
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Thursday, October 12, 2023
Fintech startup Jiraaf raises $8.7 million in funding led by Accel, Harmony Partners
“We will be using this money to mainly build our team, improve customer service across categories of business and also for originating more customers,” said cofounder Saurav Ghosh.
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Internet companies Google, Amazon and Cloudflare report biggest-ever denial of service operation
Denial of service is among the web's most basic form of attack and it works by simply overwhelming targeted servers with a firehose of bogus requests for data, making it impossible for legitimate web traffic to get through.
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Karnataka’s new procurement policy aims to give slice of government business to startups
The government has not decided on the share of procurement that should go to startups, but it’s speculated that the figure may be set at 5%.
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Rule curbing AI chip exports to China under final review
The regulation on controls on high-end chips, advanced computing integrated circuits (ICs), and supercomputing was received for review on Oct. 10, according to the Office of Management and Budget website.
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OECD publishes treaty that would replace national digital taxes
The release of the text puts pressure on the United States in particular, where a two-thirds majority in the deeply divided Senate is needed to ratify treaties. The document is the first pillar of a two pillar overhaul of rules for the cross-border taxation of multinational companies, which was agreed in 2021 by nearly 140 countries but whose implementation is proving slow and complicated.
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Wednesday, October 11, 2023
Jungle Ventures launches programme to invest $2 million or above in seed capital
Jungle Ventures invests in early- to growth-stage companies in Southeast Asia and India. Its portfolio includes Moglix, Livspace, Builder.ai and Atomberg among Indian startups.
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from Tech-Economic Times https://ift.tt/0xdtECQ
Apple updates iPhone 12 software to address France's radiation testing
Apple has disputed the findings of French regulators who said that the iPhone 12, which has been on the market for three years, gave off more than permissible amounts of radiation and halted sales of the device.
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from Tech-Economic Times https://ift.tt/A5rYEtJ
Ninjacart helping farmers to reach more buyers: CEO Kartheeswaran KK
Ninjacart is aiming to post revenue of more than Rs 2,500 crore in fiscal 2024, compared with about Rs 1,212.5 crore that it made in the last fiscal year ended March 2023, CEO Kartheeswaran KK told ET in an interview.
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Who is Caroline Ellison, a key witness testifying against Sam Bankman-Fried?
On Tuesday, nearly a year after Alameda collapsed, Ellison took the stand to testify as a key witness at the criminal fraud trial against its founder, another budding young philanthropist who owned the now-bankrupt FTX cryptocurrency exchange: Sam Bankman-Fried.
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from Tech-Economic Times https://ift.tt/qZOCDye
LTIMindtree wins Infineon deal
LTIMindtree will modernise Infineon’s SAP application landscape, change the user experience, streamline business processes and deliver digital operations across both SAP S/4HANA and SAP Cloud Solutions, said the company.
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Tuesday, October 10, 2023
Online bargains recede as festive sales outperform; Dunzo reviews expenses to conserve cash
Ecommerce discounts and promotional offers came down on the third day of the biggest annual online festive sales, as brands and online sellers over achieved their targets in sales by value compared to the year-ago period. This and more in today’s ETtech Morning Dispatch.
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Razorpay leans on existing customers on signup freeze
On Monday, Razorpay launched its latest solution, Optimizer, which will allow businesses with large transaction volumes to avoid failures by rerouting them in real time.
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India market to turn largest for Zoho in 10 years: founder Sridhar Vembu
Vembu, who operates out of his native town Tenkasi, said the prediction is driven by India's demographic advantage as it witnessed more than 20 million child births last year, which is higher than the US, China, Japan and South Korea combined.
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Collaborative commerce platform Oyela raises Rs 14.4 crore led by Prime Venture Partners
The company said it will use the funds to develop ecommerce technology, build chatbots for selling on various platforms with public profiles like Pinterest, YouTube, Threads as well as streamline the supply chain to help people set up and expand their own Instagram stores.
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Zepto CEO's big sales target; sustainable ventures in focus for public markets at ET Startup Awards 2023
India's newest unicorn Zepto has set its sights on an ambitious sales target, CEO Aadit Palicha said during The Economic Times Startup Awards 2023 (ETSA).
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Monday, October 9, 2023
ET Startup Awards | Funding winter only in the mind, there is enough cash available for good ventures: Piyush Goyal
The minister urged industry to promote India-made goods and inform customers of the country of origin as they should be given a choice to be part of ‘Aatmanirbhar Bharat’.
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Sunday, October 8, 2023
Indian IT companies seen logging muted sequential growth in Q2 amid sustained macro overhang
The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
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Microsoft likely to unveil its first AI chip next month to cut Nvidia GPU costs
Microsoft's data centre servers currently use Nvidia GPUs to power cutting-edge LLMs for cloud customers, including OpenAI and Intuit, as well as for AI features in Microsoft's productivity apps.
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from Tech-Economic Times https://ift.tt/GJ7koq6
Intel prepares for Windows 'refresh' amid likely Windows 12 launch
The company last month previewed the next generation of Intel Xeon processors, revealing that 5th Gen Intel Xeon processors will bring a combination of performance improvements and faster memory, while using the same amount of power, to the world's data centres when they launch on December 14.
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Elon Musk's X now showing 'clickbait' ads that users can't block or report
According to a report from digital news platform Mashable, these new X ads don't allow users to like or retweet the ad posts and the new ad format also doesn't disclose who is behind the ad.
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Google shipped almost 40 million Pixel phones since 2016, 10 million in last 12 months
The all-new Pixel 8 and Pixel 8 Pro smartphones with next-gen AI capabilities, and Pixel Watch 2 are now available in India.
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ET Startup Awards 2023 | Strong vote of confidence a boost for startups Inc
Optimism takes centre stage as entrepreneurs, investors and policymakers gather to celebrate the best of new economy
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Alphabet CEO Sundar Pichai set to testify in Google Play trial
Pichai and Epic’s CEO Tim Sweeney have been listed as witnesses in a trial scheduled to start Nov. 6 in San Francisco federal court over whether Google Play policies are unlawful and thwart competition, according to court filings.
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Saturday, October 7, 2023
Amazon launches first test satellites for Kuiper internet network
Amazon successfully launched its first pair of prototype satellites for its Kuiper internet network from Florida. The launch is the first step in Amazon's plan to deploy thousands more satellites to provide global internet service and compete with SpaceX's Starlink.
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Winners of The Economic Times Startup Awards 2023 to be feted today, and other top tech, startup stories this week
The Economic Times Startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as Startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses.
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All roads lead to The Economic Times Startup Awards 2023 in Bengaluru today
Union minister for commerce and industry Piyush Goyal and minister of state for electronics and IT Rajeev Chandrasekhar will be the guests of honour at the high-octane event.
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Several US regulators seek information from Kazakh fintech Freedom
In August, Freedom was under attack from Hindenburg that said its research into the company had revealed "hallmark signs of fake revenue" and market manipulation in both its investments and stock.
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SoftBank sells 2.5% stake in PB Fintech for Rs 869 cr; Goldman Sachs, Nomura among buyers
SoftBank which was one of the early investors in India's tech companies, has been gradually paring stakes in the firms. Earlier in August, it had sold 1.17% in Zomato through bulk deals. Prior to that in July, SoftBank had offloaded about 2% stake in Paytm. In May, SoftBank sold 2.07% stake in the fintech major through a series of open market transactions.
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Friday, October 6, 2023
Tesla engineer defends 'full self-driving' name at crash trial
The lawsuit, filed in a California state court, alleges the Autopilot system caused owner Micah Lee's Model 3 to suddenly veer off a highway east of Los Angeles at 65 miles per hour (105 kph), strike a palm tree and burst into flames, all in the span of seconds.
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Nvidia rival Graphcore in need of funding as losses mount
Graphcore produces AI chips called intelligence processor units (IPUs) that aim to take on Nvidia. It reported pre-tax losses widened 11% to $204.6 million, according to a filing of its 2022 financial statements filed Wednesday.
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Belgian intelligence service monitors Alibaba hub over 'espionage' worry: report
Alibaba signed an agreement with the Belgium government in 2018 to open an ecommerce trade hub, run by its logistics arm Cainiao, that would include investment in logistics infrastructure.
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SoftBank's Masayoshi Son says AI will surpass human intelligence in a decade
It will affect every industry, from transportation and pharmaceuticals to finance, manufacturing, logistics and others, and the companies and people that work with AI will be the leaders in the next 10 to 20 years, Son said.
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Thursday, October 5, 2023
Bhashini to launch RBI’s platform for frictionless credit in multiple languages
The Digital India Bhashini Division will do this in collaboration with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the central bank, to explore and develop solutions that break linguistic barriers in the sphere of financial services.
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Meta starts rolling out generative AI tools for all advertisers
The company started testing these tools in May, giving access to a select group of advertisers in a "testing playground". The tools will be available in Meta's Ads Manager and their rollout will be completed next year.
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NPCI to sign pact with Al Etihad Payments of UAE for cross-border transactions
The memorandum of understanding (MoU) aims to develop the domestic card scheme of the UAE based on India's RuPay debit and credit card stack.
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Britain limits AI summit guest list to 100 invitees, excludes startups
The highly anticipated event is set to test Prime Minister Rishi Sunak's conviction that Britain can serve as the world leader in regulating the rapidly developing technology, an ambition that has provoked criticism from some.
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Wednesday, October 4, 2023
Meta to lay off employees in metaverse silicon unit
Employees were informed of the layoffs in a post on Meta's internal discussion forum Workplace on Tuesday. The post said they would be notified about their status with the company by early Wednesday morning, one of the sources said.
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Russian court rejects Apple appeal against abuse of dominant market position: report
Russia's federal anti-monopoly service (FAS) fined Apple in January over what it said was the US company's abuse of its dominant market position.
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Zomato shares hit 52-week high of Rs 105.90; m-cap nears $ 11 billion
The stock's value has surged in the last eight months. Mutual funds have increased their investments in Zomato, making it one of the top buys of domestic fund houses in August, with purchases exceeding 80 million shares.
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Tuesday, October 3, 2023
WeWork misses $95 million in interest payments
WeWork has chosen not to make two interest payments totaling $95 million, in an effort to kick-start negotiations with its lenders and reduce costs with landlords. Although this move may prompt speculation of a potential bankruptcy filing, WeWork claims to have enough cash on hand.
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Visa launches $100 million venture fund for generative AI startups
Generative AI is a technology that creates brand new content based on what it has learnt from past data.
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TikTok parent ByteDance's valuation slumps to $223.5 billion in stock buyback: report
Chinese company ByteDance is reportedly buying back shares from its U.S. employees at a valuation of $223.5 billion, down 26% from the previous year. The company aims to purchase at least $300 million worth of stock from current and former employees. This comes as the private investment market experiences a decline in valuations due to the waning effects of the pandemic-era exuberance.
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NeoGrowth evaluates strategic deal as business becomes profitable
The Mumbai-based NBFC has reported a net profit in the last fiscal after two years of losses, now its stakeholders are evaluating if they can exit on a high.
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Elon Musk's X hit with trademark lawsuit from marketing agency
The lawsuit by X Social Media claims that X Corp, which owner Elon Musk began rebranding to X from Twitter in July, was likely to cause consumer confusion.
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Monday, October 2, 2023
Japanese startup develops 'Gundam'-like robot with $3 million price tag
Tokyo-based start-up Tsubame Industries has developed a 4.5-meter-tall robot called ARCHAX, which resembles the popular Japanese animation series "Mobile Suit Gundam." Priced at $3 million, the robot has cockpit monitors that allow the pilot to control its movements using joysticks.
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Piyush Goyal, Rajeev Chandrasekhar to grace ET Startup Awards ceremony; Dunzo cofounder to exit
The awards ceremony of the Economic Times Startup Awards 2023, scheduled to be held in Bengaluru on October 7, will see Union minister of commerce and industry Piyush Goyal and minister of state for information technology Rajeev Chandrasekhar attending as guests of honour. This and more in today’s ETtech Morning Dispatch.
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ET Startup Awards 2023: Union minister Piyush Goyal, MoS IT Rajeev Chandrasekhar key guests at awards night
Startup founders as well as investors attending the exclusive event can also expect key updates on important upcoming legislations; including the ecommerce policy as well as the recently enacted personal data protection law.
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Neobanking company Fi’s revival hinges on its credit offerings
Internally, the Fi is experimenting with a new user onboarding flow called Fi Lite, where customers are not mandated to open a digital banking account anymore, rather can directly opt for credit products. Fi is also planning to rejig its one-time joining fee of Rs 2,000 for credit card customers to expand its card base.
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Sunday, October 1, 2023
Meta technology chief defends tech titan's AI strategy
Meta unveiled AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using spoken prompts. The company that owns Facebook and Instagram has been seen as lagging rivals like Microsoft and Google, which have pushed out generative AI products and invested heavily in the technology seen as a force poised to shape the future.
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India's private space sector skyrockets
There are now 190 Indian space startups, twice as many as a year earlier, with private investments jumping by 77% between 2021 and 2022, according to Deloitte consultancy.
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Freelancers, startups drive demand for co-working spaces in Bengaluru
Flexible offices or co-working spaces are coming in handy for startups as they save a huge investment of renting, leasing or purchasing the office space. They provide office space as per the requirement, budget and time.
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Apple identifies issues causing overheating in the iPhone 15
After complaints that the new phones are getting very warm, Apple has said that the device may feel warmer in the first few days "after setting up or restoring the device because of increased background activity."
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GST on online gaming triggers CV deluge
The increasing number of job seekers reflects their concerns about the GST’s potential effects on their future, say experts.
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Walmart changes pay and titles for corporate staff
Walmart corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company's workforce, the Wall Street Journal reported on Saturday.
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