👀 The Week At A Glance
This week we talked about frauds, a new crypto buzzword, and how you may soon be seeing ads in your dreams!
Hello, readers 👋
We’re back to catch you up with all that happened this week in just 2 minutes 45 seconds!
💀 Death To Pyramid Schemes!
You've probably heard about companies like Tupperware and Amway since you were little. These companies employ pyramid schemes to recruit more sellers. More often than not these schemes help people, especially women, earn extra money. But lately they've gotten a bad reputation and rightly so. Which is why the government is shutting them down. Want to know the whole story. ReadOn!
🛒 Yet Another E-Commerce War
The Indian e-commerce sector has pitched several companies against one another until only two main survivors remained: Amazon and Flipkart. But now a new underdog has risen to challenge this duopoly: Meesho. And Flipkart is getting nervous because of its popularity. Here's why.
🏦 The Controversial Yes Bank Fraud
The Yes Bank Fraud was unveiled in 2020 but is still managing to create headlines. But this time it wasn't the fraudsters creating headlines. The RBI and the SEBI had written off Rs. 8,415 crores worth of bondholders' money because of legal fine print leading to suit. But turns out the RBI initially wanted to give this money back to investors. So, what happened? ReadOn to find out!
⚡Another Word Was Added to Our Crypto Vocab
Just when we got the hang of NFTs, the metaverse and Web3, a new crypto word entered the scene. SFTs. These semi-fungible tokens are kind of like NFTs but better in some aspects. And in game-based metaverses they're a game changer. Here's how they work.
🕵️♀️ Committing Startup Fraud Theranos Style
A college dropout with a lofty vision managed to fool multiple high profile investors, politicians, regulators and the media for years on end. She promised them a portable device that could conduct blood tests fast and cheap. And in return, she gave them nothing. Here's her story.
😲 Advertisements Now Coming To Your Dreams
The constant barrage of ads on every platform wasn't enough for brands. They want to be in front of your eyes 24/7. So, now they've found a way to hack your dreams so you dream about their products as well. Here's the tea on this Inception-level marketing technique.
📰 Here's What Else Made the News and Moved Markets:
👉 We talked about how Meesho is disrupting e-commerce by making products cheaper. But a think-tank has asked the Minister Of Commerce to look into how Meesho, Shopee and Swiggy's Instamart can afford such cheap products. They claim that these companies are doing so by forcing sellers to lower their prices, a practice that is both anti-competitive and illegal. So, is Meesho going to get in trouble?
👉 It was a busy busy week for Reliance. It launched a $4 bn bond, which was India's largest ever foreign currency bond issuance. But it didn’t just raise money, it also invested in Dunzo, a startup that is pushing for 19-minute deliveries. Plus, it partnered up with skill-based gaming company Zupee. And that's not all. It has made recharges much much easier for users by launching a UPI autopay services that automatically recharges your phone when your plan gets over. What next is Reliance going to do?
👉 India is finally ready to launch an auto Exchange Traded Fund. And its not just launching one but two at the same time! Both Nippon Mutual Fund and ICICI Prudential Fund launched an auto ETF on January 5. Both ETFs will track the Nifty Auto Index. This is great news for investors as they can now get an opportunity to invest in the auto sector, which is expected to grow 22%-25% this year, at a low cost. So, are you going to invest?
If you want such bite-sized updates about what’s happening in the business and finance world, follow us on Instagram.
And now you can also listen to our stories because the Revolution ReadOn podcast is live!! Here: you can catch it on Spotify, Apple Podcast or Amazon Music.
Don’t forget to share the pieces you loved with your friends and let us know what kind of content you would like to read! We’re always looking forward to hearing from you.
With love,
Team ReadOn ❤️
Join us on Whatsapp to get daily updates! 👇