👀 The Week At A Glance
This week we talked about an upcoming economic recession, an exciting merger, and a lot more.
This week started out with us diving deep into the world of DeFi, and ended with us talking about interesting scenarios that could impact the entire world economy. Catch up with all of this in just 3 minutes.
💸 Into the World of DeFi
We’re sure you’ve come across the words “DeFi” or “Decentralised Finance” several times. But have you ever wondered why finance needs to be decentralised or how exactly this decentralised finance works? ReadOn to find out!
🎬 Inox and PVR: Foes to Friends?
India’s top two theatre chains, PVR and Inox, have set aside their rivalry and decided to join hands. Why? Because Covid doesn’t discriminate. It tanked both their businesses, which were already threatened by the rise of OTT. But is merging the solution to their problems? ReadOn to find out.
🚑 Are Startups the Answer to India’s Healthcare Woes?
India’s healthcare system is plagued with several problems. It lacks accessibility, affordability, and the number of doctors needed to actually handle a 1.4 billion population. But just like how superheroes appear at the sign of a distress call, startups have been appearing to help solve all our problems, including healthcare ones. Here’s how they are helping.
📉 Economic Recession: Coming Soon?
Economics and financial experts have a number of metrics and indicators which help them understand whether the economy is in trouble. One such indicator is the yield curve inversion. Here’s our explainer on what that is, how it predicts a recession and if a recession is actually coming.
⚡ What’s the Hype About Green Hydrogen?
India wants to produce 5 million tonnes of green hydrogen every year by 2030. And Ambani and Adani are both interested in making this dream come true. But what is green hydrogen and do we even need so much of it? ReadOn to find out.
😮 Has Russia Put the Dollar in Danger?
Tired of all the economic sanctions levied on it, Russia has said it is no longer interested in the dollar. You want Russian goods? Pay up in rubles or gold. What’s more, its central bank has set a fixed buying price for gold now. This could be an indication that it is considering moving towards the "Gold Standard". How will this impact the dollar and the US? ReadOn to find out.
🗞 Here's What Else Made the News and Moved Markets:
👉 India has signed a landmark economic cooperation and trade agreement with Australia, which will benefit both countries. Under the deal, Australia will provide duty-free access for over 95% of Indian goods, including textiles, leather, jewellery and more. These goods earlier used to attract 4%-5% customs duty. Meanwhile, India will offer tariff eliminations and tariff reductions on raw material imports from Australia. The result? Bilateral trade between the two countries expected to rise from $27.5 billion to $45 billion in 5 years.
👉 This was a great week for Indian startups. Several Indian startup founders and executives have come together to create the Bharat Founders Fund, which has an investment corpus of $20 million to help the startup community. It will invest $100,000 to $200,000 in pre-seed startups (companies that are just starting out). Investors include co-founders of Meesho, Rivigo, Cars24: basically people who know how difficult it is to secure funding, so they want to help. And this help is seriously needed as most startups fail during the early stages and 29% fail due to lack of funds. And that’s not all. Microsoft has launched the Startup Founders Hub which will give benefits worth $300,000 to Indian startups along with mentorship. It has also partnered with OpenAI to offer discounts to startups on AI-based tech. Meanwhile, Amazon launched an entrepreneurship challenge, which will give startups prizes up to worth Rs. 65 lakhs, along with other perks, connections and mentorship.
👉 As if the running-out-of-charge issue wasn't enough to put Indians off electric vehicles, now we have a new problem. Several EV scooters like that of Ola Electric and Okinawa have recently caught fire. Reason? The battery packs used in these EVs. Imported from China or Taiwan, these battery packs heat up fast and need to be cooled. But in our climate, this is a problem. So, batteries are overheating. India now needs to develop EV batteries that better suit our weather to boost EV adoption.
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Team ReadOn ❤️
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