Career update : Very happy to share that I have joined
@chandrarsrikant
& team at
@moneycontrolcom
. Will be covering IT, startups, VCs, Big Tech, metaverse, crypto, short video apps among other areas from Mumbai
🚨🆕️ Team update: Absolutely thrilled to welcome
@debanganaghosh4
to the
@moneycontrolcom
tech, startup and new economy team. She will be based in Mumbai.
I complete 5 years in journalism today.
Feels like a small milestone as my professors at ACJ would say, that if you survive in the profession for the first five years, you are here to stay longer.
🚨🆕️Imp story: Campus hires of LTIMindtree who received offer letters in January 2022 still await on-boarding, and the IT services firm has now asked them to go through a new training programme to prove their eligibility 🧵
@moneycontrolcom
gets you details
@chandrarsrikant
Career Update : Yesterday was my last day at The Hindu BusinessLine. Was fortunate to work with the dream team led by
@teekaytee
, who has been an awesome mentor and has helped me grow as a journalist.
Thanks for creating such a healthy and supportive newsroom! :)
🚨
#WazirX
accounted for 50%
#crypto
trading volumes in India, but 🧵
➡️Users are transferring assets from WazirX
➡️Binance asked them to shift assets to its platform
➡️On Aug 9, WazirX tried to inform users that foreign exchanges are not TDS compliant
🚨🚨 Google launches Google Startup School in India to enable and scale start-ups beyond metros. Wants to reach 10,000 startups through the school
@chandrarsrikant
via
@moneycontrolcom
Big news : The CCI is of the view that mandatory use of Apple’s IAP for paid apps and in-app purchases restrict the choice available to app developers to select a payment processing system, given the high commissions charged by Apple.
#latepost
🚨🆕Sam Bankman-Fried was born to lawyer parents on March 6, 1992, on the Stanford University campus — the pin code of at least 85 Nobel laureates in the past — and his life symbolically began in the place of greatness he was destined to achieve eventually... 🧵
#FTX
#crypto
🚨🚨 With the exception of Infosys & Tech Mahindra, the aggregate revenue per employee for TCS, Wipro & HCLTech declined by 3.8-11% on a 5-yr Cagr basis in FY23.
Data source:
@unearthinsight
@moneycontrolcom
@chandrarsrikant
🚨📢TCS, Microsoft, Accenture, IBM & many other tech companies are skilling lakhs of employees in AI.
Yet only 2000 senior AI engineers are there in India who are building core AI products
What does AI skilling really mean?
@moneycontrolcom
deep dives 🧵👇
@chandrarsrikant
🚨⚡️Semiconductor space is heating up in India right now, and IT services giants -- Accenture, Infy, HCLTech, Wipro & Tech M -- are here to grab a share of this burgeoning sector 🧵
@moneycontrolcom
@chandrarsrikant
🚨Imp.: Google was suppose to impose 15-30% commission on in-app sales on Play Store, while denying app developers the choice to opt for other payment gateways.
Deadline for implementation of this billing policy was set on October 31, 2022.
BREAKING: CCI slaps fine on Google, for the second time in a week. It imposed a penalty of Rs 936.44 crore on Google for abusing its dominant position with respect to its Play Store policies, apart from issuing a cease-and-desist order.
@tsuvik
reports
🚨📢What went wrong at GoMechanic?
➡️During due diligence for a deal, several accounting irregularities were spotted
➡️The startup over inflated its numbers
➡️Made up fictitious partner garages
➡️Favoured a few select garage partners, giving them more business 🧵
Story so far:
✨A last look at 2022, before I move on. Grateful to have had a year full of opportunities and new learnings at
@moneycontrolcom
,
@businessline
and also personally.
Got to cover big techs, venture capital, crypto, startups at HBL & MC and deep dived into IT.🧵
🚨🆕After five-day work from office, now TCS sends sudden transfer notices
Acc. to IT employee union NITES, 2000 employees were asked to transfer to new locations in two weeks notice, since August end. 🧵
@moneycontrolcom
@chandrarsrikant
Latest on The Wire Vs Meta. Following internal investigation, the news portal retracted the recent Meta stories permanently. It will now be reviewing previous Meta-related reportage as well
Given the discrepancies that have come to our attention via our review so far, The Wire will also conduct a thorough review of previous reporting done by the technical team involved in our Meta coverage.
🚨🆕️ A Silicon Valley serial entrepreneur with 4 startups under his belt, Gupta has just sold his latest SaaS firm, Apptio, to IBM. Life has come full circle for Gupta who began his career with the tech giant in 1992
@moneycontrolcom
@chandrarsrikant
🚨📢
@moneycontrolcom
visited the upcoming Apple store at Jio World Drive Mall in BKC, Mumbai to understand the mood and expectations ahead of the launch.
And here's what we found 🧵👇
@chandrarsrikant
In the past few years, most top Indian and global IT services companies have acquired a semiconductor R&D firm to expand their ER&D portfolio and cater to the growing semiconductor demand, following the global chip shortage of 2022-2023.
@EIIRTrend
@pareekhjain
Had a great time moderating this amazing panel of industry veterans at the confluence of BFSI, tech and data science.
On the panel were Kersi Tavadia of BSE, Sandeep Ubale of State Bank of India, Sunil Batra of NSDL, Nilotpal Gupta of ICICI Sec. & James Petter of Pure Storage
According to multiple sources, Moneycontrol spoke to, around 600-700 freshers will be impacted and have to undergo the new training programme.
Those unwilling to take up the new assessment and training programme will have their offers automatically cancelled.
🚨📢SCOOP: According to sources, the number of layoffs would be north of 1,000 and will mostly impact senior people, who have spent 2 yrs + at the edtech
By
@patwardhannn
&
@Unibrowverse
🚨🚨MobiKwik's forensic audit report of the
#databreach
from earlier this year is still under examination with the
#RBI
, awaiting closure. Around 3.5 mn KYC documents and 100 mn mobile numbers linked to other details were leaked
#cybersecurity
#Dataleak
The
@moneycontrolcom
newsroom is buzzing and all set for
#Budget2023
.
It takes an army, months of planning and a lot of work to bring you timely and accurate information.
Stay tuned!
#BudgetWithMC
🚨 Exclusive:
@moneycontrolcom
accessed Wipro's complaint copy against former CFO Jatin Dalal, which claims he breached non-compete clause by joining Cognizant within 12 months 🧵
@ChristinMP_
& I report
@chandrarsrikant
Didn't go out since December 25th, had no New Year's plans, yet down with Covid and struggling to do basic daily chores due to weakness and constant sleepiness. What a start to 2022!🙁😐
Freshers were earlier told joining dates would be shared post LTI and Mindtree merger.
Not just LTIMindtree, most IT companies are currently going through a tough business environment amidst global macro headwinds, banking crisis, inflation and more.
🚨🆕️LTIMindtree writes to college placements heads to clear air, after facing backlash on delays in onboarding freshers.
@moneycontrolcom
@chandrarsrikant
"You see the emergence of a new reasoning engine with AI" -- Microsoft CEO
@satyanadella
discusses future of Cloud and AI taking example of ChatGPT at Future Ready Leadership Summit.
@moneycontrol
🚨📢BREAKING : TCS sacks 6 employees & bans 6 staffing firms in recruitment bribe case, says chairman N Chandrasekaran.
Three more people under investigation
@moneycontrolcom
@chandrarsrikant
Cognizant is going through an organisational restructuring. It is merging Digital Business & Technology and Digital Business Operations practice areas.
via
@moneycontrolcom
🚨 Cognizant’s Rajesh Nambiar loses ‘executive’ position, takes a pay cut. He will however continue as Cognizant India chairman
@debanganaghosh4
and I report
.
@Cleartrip
Had booked a couple of flight tickets nearly a week ago, yet to receive confirmed tickets over mail/WA. This, despite I reaching out to the customer support thrice through calls & emails. Pls resolve asap.
🚨🆕In a no holds barred interview, Silicon Valley veteran investor Kanwal Rekhi said SoftBank pushed for growth instead of profitability and that a growth-stage startup with no profitability is nonsense 🧵
via
@moneycontrolcom
@chandrarsrikant
🚨🆕Telecom sector deals had been the worst hit for IT services companies in the recent years.
Now it is slowly making a comeback with mega deals of over $500 mn! 👇🧵
@moneycontrolcom
@chandrarsrikant
Work Update: For PR friends who aren’t aware, I have recently joined
@Businessline
. I am covering enterprise IT, Big Tech companies and sometimes startups. You can reach me at debangana.ghosh
@thehindu
.co.in
🚀Beyond the news:
➡️InsuranceDekho raised $150mn in a Series A round led by Goldman Sachs and TVS Capital.
➡️This was its first institutional funding & the largest Series A round for an insurtech startup in India.
➡️ Apprx valuation was $450-500mn
So, what sells? (1/3)
Important news. DigiYatra Scheme which combines facial recognition with govt IDs like Aadhaar for flight boarding, check in etc. could create privacy issues in absence of data protection framework which is in the making. The scheme goes live in March.
🚨🚨In an
#exclusive
interview with
@moneycontrolcom
,
@smtgpt
shares his game plan for building CoinDCX in the next two years, global expansion plans, concerns around existing taxes and policies, optimism on the India market & more.
@chandrarsrikant
Andreessen’s flagship
#crypto
fund shed around 40% of its value in the first half of this year, according to
@WSJ
sources. That decline is much larger than the 10% to 20% drops recorded by other venture funds...
#cryptocurrecy
#VentureCapital
🚨🆕Scoop: Microsoft India is increasing prices of its business suite offerings including Microsoft 365, Dynamic 365 by 6% from Feb 1.
This will be the tech giant's third consecutive year of price hike in the country.
@moneycontrolcom
@chandrarsrikant
🚨IT companies like TCS, Infosys have their own internal gig work platforms, letting employees work on other short duration projects outside their departments.
Wipro too has an external gig work platform called Topcoder, which let employees take up side jobs with other orgs.
According to a report released by
@nasscom
almost 65 percent or two-thirds of the 70 organisations surveyed had employed gig workers in 2022. But they don't like moonlighting eh😉
@debanganaghosh4
✍️
🆕📢For Indian IT, 2023 was one of the worst years since Global Financial Crisis
Industry experts see the impact of the ongoing market conditions for the IT sector spilling over to 2024; esp. in the next 6 months
@moneycontrolcom
@chandrarsrikant
🆕📢 AWS, Microsoft Azure and Google Cloud Platform, the three largest hyperscalers, reported single digit YoY growth in deal win by annual contract value (ACV) in the Q4 of 2022, signalling weakness after the industry’s rapid growth during the pandemic. 🧵
@moneycontrolcom
🚨
#Breaking
: Imp. developmnt in
#crypto
. Anti money laundering guidelines applicable on offshore crypto exchanges
MoS of Finance said that the process of registering for off shore crypto exchanges has been initiated
@moneycontrolcom
@chandrarsrikant
🆕🚨
@CoinSwitch
's Web3 Discovery Fund is evaluating 150 Indian
#Web3
startups across use cases, within three months of launch, even as the sentiment around crypto assets continue to remain low. 🚀
@moneycontrolcom
#Crypto
#Bitcoin
🚨🚨After TCS and HCLTech, LTIMindtree weighs in on return to office.
COO Nachiket Deshpande says the firm has mandated 2-day a week WFO for most associates, and 3-days a week for mid management & leadership
details inside 👇
with
@chandrarsrikant
🚨🆕Acc. to Vineet Nayar, there are 3 key drivers of moonlighting in the IT sector: the widening gap between the salaries of freshers vs top management, the lack of purpose in the profit-driven culture of IT companies and the growing start-up economy.
🚨🆕Exclusive: TCS is holding up onboarding of lateral hires with 2 - 15 years of experience by 3 months amidst project commencement delays, multiple sources told
@moneycontrolcom
.
Over 200 recruits are getting impacted.
with
@hrprya
@chandrarsrikant
Acc. to Peak XV’s Ishaan Mittal, Honasa Consumer's economic structure will be able to generate superior profitability to the FMCG industry in India. He added that when companies like Honasa are growing very fast, the operating leverage may take time to fully kick in.
🚨📢Only 10% of Boston Consulting Group's current clients have moved from generative AI PoCs to actually deploying them at present.
BCG X's global leader & MD, Sylvain Duranton and India MD Nipun Kalra's tells us why 🧵👇:
@moneycontrolcom
@chandrarsrikant
Nandan Nilekani shares his vision of the new India and what to expect in the coming decades. He also discusses the PDP Bill, Aadhaar and ONDC among several other interesting topics with
@chandrarsrikant
#IndiaAt75
:
@NandanNilekani
is one of the country’s leading entrepreneurs & a key player in India’s growth story! ⚡️
In an exclusive chat with
@chandrarsrikant
, he talks about his vision for India, his thoughts on the country's future & more!
Watch 📽️
🚨
#SCOOP
| HCL Technologies lays off 350 employees working on client Microsoft's news related products.
The employees were informed of the same last week in a town hall, sources told
@moneycontrolcom
@chandrarsrikant
🚨 🚀Here's how cost cutting measures by Indian startups have fared in FY23:
➡️Employee costs down by only $700 mn, after laying off ~ 32,300 employees btwn Q4FY22 & FY23
➡️Tech spending down by $200 mn YoY in FY23
➡️Ad spend down by $800 mn
Source :
@unearthinsight
Est.🧵
🚨🆕ICYMI: Accenture’s $450-million Gen AI pipeline is more than the top 10 Indian IT companies’ combined
Here's what we know 👇🧵
@moneycontrolcom
@chandrarsrikant