👀 The Week At A Glance
This week we talked about a lot of current topics like the India-wide blackouts, a poison pill, and the yen's downfall.
We started this week with Musk's obsession with Twitter and ended it by talking about his unique school for his kids. Catch up with all this and more in just 4 minutes.
💊 Why Twitter Released A Poison Pill?
Elon Musk has set his sights on Twitter to make the platform a space for free speech. But the problem is he is set on a price that Twitter believes is too low. And he is not ready to negotiate. So, Twitter has launched a poison pill to prevent a hostile takeover by Musk. Want to know what that means? ReadOn!
🕯Lights Out in India
When we came to Bengaluru, we faced a major issue: power cuts. And we realised we weren't the only ones suffering. Several states across the country had the same problem. So, we dug deep to find the root cause of the issue. And here's our answer.
🧐 India Develops A Soft Corner for SPACs
Though countries like the US have embraced SPACs (special purpose acquisition companies which help fasten the IPO process) with open arms, India has stayed away from them so far. This has prompted many Indian startups to quit listing in India and go straight to the US market with the help of SPACs. However, now we're finally considering adopting them. But what has changed India's mind and is the move justified? ReadOn!
💴 Yen Hits a 20-Year Low!
Japan has a very unique economic setup. The country has a deflation problem and is also adamant to keep interest rates very very low (negative to be accurate). All of this has led Japan's currency to fall to a 20-year low. Here's how.
🗑 India Has A Major Waste Problem
When we talk about our planet's health we usually talk about global warming or air pollution. We usually ignore a major problem facing our planet: Waste. This waste will not only outlast us but will pollute our soil and water. But a few startups have entered the waste management industry to solve this problem for us. Want to know more about them? ReadOn!
📚 A New Edtech Revolution is Raging!
Our education system has now become all about mugging up stuff and getting the most marks. Skills like critical thinking, public speaking and more, which we need to survive in the outside world are not taught to children. This is exactly why Elon Musk decided to create his very own school for his kids, which focuses on experiential learning. And a few startups are now trying to bring this same experience to India. ReadOn to know more.
🗞 Here's What Else Made the News and Moved Markets
👉🏻 Good news for travellers to the UAE! You can now make payments using UPI in the country at select NEOPAY terminals. The move comes as Indians have become increasingly used to making payments using UPI, thanks to the ease it brings to the space. In FY22, 45.6 bn transactions, worth $1 tn, were made via UPIs, making it the best performing real-time payment ecosystem in the world. This will not only be good for tourists and businesses but also provide Indian banks and fintech companies with a lot of valuable data.
👉🏻 Amazon is finally entering the social commerce game with its acquisition of GlowRoad. The acquisition will help GlowRoad grow as it will get access to Amazon's tech and infrastructure. Social commerce is gaining traction at the moment, with 17% of all e-commerce transactions set to come from this space by 2025. Meesho is leading in this sector right now. And it is because of this competition that both Flipkart and Amazon are going the social commerce way. Will Amazon's entry drive out the smaller social commerce players from this space?
👉🏻 RBI has hinted that it is ready to raise interest rates. In the recent Monetary Policy Committee (which sets interest rates) meeting, all members supported the idea of taming inflation (fuelled by low interest rates set during Covid). This comes as the inflation rate is at 6.9%, way above the RBI's tolerated benchmark rate of 6%. Plus, the Russia-Ukraine war has also been making matters worse by raising commodity prices. But now the question is how will a rise in interest rates impact our growth?
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