OYO's valuation slashed by 20%; WFH ends for TCS employees
Fewer than 200 IIT graduates went abroad last year
Yellow! Welcome to a brand new day and a brand new version of nextbigwhat’s newsletter. It is now called CHAI → your companion during chai time (driven by AI in the backend*).
So, what are you watching on Netflix these days? Turns out that many subscribers aren’t happy with the quality of the content that they see and will probably not even renew.
Content + tech is always a fun business.
Aside, WFH is ending for many companies. What do you prefer? Do take the poll and let us know!
*Go ahead and download CHAI app, the smartest bite-sized tech news app (Android, iOS) that brings you all the important news and trends on tech across different industries.
25% of Netflix subscribers planning to leave service
Netflix already lost 1.2 million subscribers in the first two quarters of 2022. While the company hopes to add one million new users with its new ad-supported tier, a survey shows that 1 in 4 Netflix users are planning to cancel their subscriptions this year.
Tesla orders to recall 1.1m U.S. vehicles over power windows glitch
Tesla’s automatic window reversal system may not react correctly after detecting obstruction. The NHTSA says it is a violation of federal safety standards for power windows.
Artist receives first known US copyright registration for generative AI art
In what might be a first, a New York-based artist named Kris Kashtanova has received US copyright registration on their graphic novel that features AI-generated artwork, according to their Instagram feed and confirmed through a public records search by Ars Technica.
Despite popular misconception, the US Copyright Office has not ruled against copyright on AI artworks.
Govt proposes law to intercept encrypted messages on WhatsApp, Signal
The govt has proposed a law to bring under a legal framework the interception of over-the-top communication services, such as WhatsApp which are encrypted, according to the new draft telecommunications bill.
The government can add any other service that the central government may notify to be telecommunication services. It has sought public feedback on the draft.
Facebook could end Trump’s ban from the platform as soon as January 2023
Meta’s president of global affairs Nick Clegg explained, to determine the company’s future course of action, Meta would consult with outside sources, and assess the risk of “real-world harm.”
RBI asks fintech firms to share complaint data
The RBI has asked fintechs and payment providers to voluntarily disclose data on complaints that they have received and the time taken to resolve the complaints.
RBI chief GM P Vasudevan said that often companies ask complainants to privately provide details when they complain on social media, but there is no indication on whether it has been resolved or not.
Apple rolls out iOS 16.0.2, fixes all the bugs reported earlier
iOS 16.0.2 comes two weeks after the launch of iOS 16, and it follows iOS 16.0.1, an update made available to iPhone 14 owners on launch day.
iOS 16.0.2 addresses a number of bugs that have been impacting the iPhone 14 models and other iPhones running iOS 16 including the issue that could cause the camera to vibrate and shake in third-party camera apps.
WFH ends for TCS employees as IT firm mandates three days in office for all
Emphasising that it is time for larger teams to return to the office and that customers are now visiting TCS offices globally, the IT company sent an email to its employees saying it is mandatory for all to work from office at least three days a week.
Disney, P&G, LVMH and other big names have invested in chief metaverse officers
The ideal metaverse chief can speak as fluently about AR and VR as she can about sales and marketing, according to Cathy Hackl, who helps companies set up their meta-business units and claims to be the “world’s first chief metaverse officer” — a title she bestowed upon herself. The stakes are potentially big: McKinsey & Co. consultants estimate that annual global spending related to this virtual landscape could reach as much as $5 trillion by 2030.
23-Year-Old ”Crypto King’ Has Luxury Cars Seized After $35 Million Vanishes
Five luxury cars, including two BMWs, two McLarens, and a Lamborghini, have been seized from 23-year-old Aiden Pleterski, the self-described “crypto king” of Canada. Pleterski and his company AP Private Equity Limited are facing at least two civil lawsuits after 140 people have come forward to say they invested a combined $35 million with Pleterski, being influenced by his online presence.
IPO-bound OYO gets 20% valuation cut from SoftBank
SoftBank Group Corp. has slashed the valuation of OYO Hotels on its books by more than 20% as once high-flying Indian startup prepares for an initial public offering. The Japanese investor cut its estimated value for OYO to $2.7 billion in the June quarter from an earlier $3.4 billion after benchmarking it against peers with similar operations.
Ola Electric enters international market, plans to expand globally
Ola has signed a Memorandum of Understanding (MoU) with CG Motors in Nepal. As a result, CG Motors will be its first local distributor for its popular Ola S1 scooters. The company is looking to gain a presence in at least five international markets with Latin America, Southeast Asia and Europe on its radar.
Google rolls out ‘Results about you’ tool that lets users easily remove personal information
The feature is currently limited to users in the US and Europe. Simply tap on your profile image in the top-right, then scroll to find a new ‘Results about you’ menu choice.
Tapping on it takes users to a page that explains how users can control and send removal requests to Google about potentially identifiable information.
Fewer than 200 IIT graduates went abroad last year #BrainGain
Not even 200 of the approximate 10,000 students from the Indian Institutes of Technology took up positions outside India last year.
20 years ago: 80% of IIT Btech left India *Last year, only 2% did. This year, the US which used to attract most candidates has been pipped by Japan.