EducateKaro – Handpicked Tech & Startup News | Quick, Smart Summaries
Handpicked Tech & Startup News | Quick, Smart Summaries
TikTok resumed operations after briefly going dark due to a federal ban. President Trump issued an executive order delaying the ban, ensuring no penalties for service providers. TikTok is now working on a long-term solution to stay in the US, while concerns over liability for supporting the app persist among lawmakers.
Read more on TechCrunch.
Hindenburg Research, known for its critical reports on Gautam Adani, is shutting down after achieving its goals. The firm’s 2023 report triggered a $150 billion selloff in Adani Group’s shares, though most losses were later recovered. Founder Nathan Anderson cited a planned conclusion after completing investigations as the reason for closure.
Founded with no traditional finance background, Hindenburg faced early lawsuits and financial struggles. Its 11-member team led investigations resulting in charges against nearly 100 individuals. Anderson highlighted their impact, saying, “We shook empires that needed shaking,” while acknowledging the toll the work took on personal lives.
Read more on Economic Times.
Meta has raised concerns about a recent decision by India’s Competition Commission (CCI), which found the company had misused its dominant position by bundling certain features on its platforms. According to Meta, this ruling could lead to some features being scaled back, which might affect both users and businesses that depend on its services.
While Meta is committed to complying with regulations, the company has highlighted the potential challenges this decision poses for its operations in India. It hopes to work closely with authorities to find a balanced approach that allows it to continue offering valuable tools and experiences to its millions of users in the country.
This situation reflects the increasing regulatory pressure on big tech companies and Meta’s efforts to navigate these challenges while staying connected with its users in one of its largest markets.
Read more on reuters.
Zypp Electric, a Gurugram-based EV-as-a-service platform, is raising ₹55.4 crore ($6.5 million) from 16 investors in its Series C round, valuing the company at $335-350 million. Earlier in May 2024, it raised $15 million led by ENEOS. Founded in 2017, its partners include Zomato, Swiggy, Flipkart, and more.
Read more on YourStory
Blaize, an AI chip startup started by ex-Intel engineers, is gearing up to go public on Nasdaq through a SPAC deal this Tuesday, as reported by TechCrunch.
Founded in 2011 and based in El Dorado Hills, California, Blaize focuses on AI chips designed for edge applications like drones, robots, and smart cameras. The company has garnered support from investors including Samsung and Mercedes-Benz, raising a total of $335 million.
Even though it reported a loss of $87.5 million in 2023 on just $3.8 million in revenue, Blaize is highlighting $400 million in deals, which includes a significant $104 million defense contract in EMEA aimed at developing systems that can detect drones and identify troops. CEO Dinakar Munagala believes that edge computing is the way forward because it offers advantages in cost, latency, and privacy. While Nvidia is concentrating on data centers, Blaize is putting its energy into practical AI solutions that address real-world needs that often get overlooked.
Read more on TechCrunch
In a recent blog post, Mullenweg shared that he had disabled the WordPress.org accounts of a few contributors, such as Joost de Valk and Karim Marucchi. This action was taken due to their supposed intentions to create a fork of WordPress, according to TechCrunch. This decision comes after these contributors expressed interest in spearheading the next WordPress update, particularly after Automattic announced it would be scaling back its support for the open-source project.
Read more on TechCrunch.
The Supreme Court has put a hold on GST showcase notices totaling over ₹1 lakh crore that were sent to online gaming companies and casinos due to accusations of tax evasion. A bench led by Justices J B Pardiwala and R Mahadevan paused the proceedings and has set a date for the next hearing on March 18. A change to the GST law in October 2023 required foreign gaming companies to register in India and imposed a 28% GST on the total value of bets. Companies like Games 24×7 and Head Digital Works have challenged these hefty demands, leading the Supreme Court to take over cases from nine high courts in order to issue a unified decision.
Read more on Presstrustofindia.
The U.S. Supreme Court heard arguments on a potential TikTok ban unless ByteDance sells its U.S. operations by January 19, 2025. The justices leaned towards national security over free speech. Frank McCourt and Kevin O’Leary proposed buying TikTok’s U.S. assets. If no sale happens, TikTok could be banned from U.S. app stores, affecting its functionality. The outcome might influence future cases involving foreign tech in the U.S.
Read more on CNNBusiness.
Google CEO Sundar Pichai has shared the company’s ambitious plans for AI leading up to 2025. During his reflection on the successes of 2024, he highlighted how crucial AI and technical innovation are in shaping Google’s offerings. Pichai expressed enthusiasm for the upcoming year, underlining the impressive strides made in AI development.
Read more on livemint.
Recent claims circulating online about Jagdeep Singh, the former CEO of QuantumScape, allegedly making ₹48 crore a day are completely inaccurate, as confirmed by official company records. A report from DNA India reveals that Singh stepped down from his CEO position in February 2024, giving up all compensation and forfeiting his stock options from the 2021 award program. His 2023 bonus in company shares was the final payout he received before moving to the role of Chairman of the Board.
SEC filings and statements from QuantumScape clarify that Singh is no longer part of any typical compensation plans. Dr. Siva Sivaram took over as CEO on February 15, 2024.
In conclusion, verified documents disprove these viral claims, confirming that Singh does not earn Rs 48 crore a day.
Read more on DNA India.
