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  • BharatPe sees fresh resignations at top level as CTO, CPO move on [details]

    BharatPe employees allege non-payment of salaries; CEO’s response left netizens fuming







    Fintech platform BharatPe has hit with a fresh wave of resignations at the top level, as its chief technology officer (CTO) Vijay Aggarwal and Rajat Jain, chief product officer (CPO), have quit among others, the company confirmed on Monday.

    Apart from them, Nehul Malhotra, head of PostPe at the company, has also moved on.

    While Aggarwal, who joined BharatPe in March 2020, will “start his own venture’”, Jain and Malhotra are “also moving out to pursue their own entrepreneurial journey”.

    BharatPeIANS

    At mid-level, Geetanshu Singla, VP-technology and Manas Poddar, programme manager at BharatPe, have also quit.

    In a statement, the company told IANS that “we confirm that Vijay, Rajat, Nehul and Geetanshu are moving on from BharatPe to pursue their entrepreneurial passions”.

    “They will continue to ensure a smooth transition of their role to the designated leaders. While it is difficult to part ways with these fantastic leaders, we are also proud of them for having taken the entrepreneurial plunge,” said a BharatPe spokesperson.

    High-profile exits at BharatPe

    This year, the company saw several high-profile exits, including founding member Satyam Nathani, Ashneer Grover (who triggered a major controversy at the platform); Chief Revenue Officer Nishit Sharma; and Head of Institutional Debt Partnerships, Chandrima Dhar, among others.

    Ashneer Grover

    Ashneer GroverTwitter

    In August, the fintech platform appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO).

    BharatPe reached an all-time high of $20 billion in annualised total payments value (TPV), expanding its footprint to 400 towns and cities.

    The company aims to surpass its target of $30 billion in payments by March 2023.

    BharatPe now plans to top up its services with other fintech products like BharatSwipe in the second phase over the coming months.

    BharatPe facilitated over Rs 3,600 crore in loans in Q1 FY23, registering a growth of 112 per cent over the last quarter (Q4,FY22).

    The company said that it has an incredible leadership bench, and has continued to strengthen and build it over the last 12 months, “with key senior hires in product, technology, data science, finance and HR”.

    (With inputs from IANS)

  • Amazon shuts third biz in India; wholesale distribution business now axed [details]

    Amazon begins mass layoffs to combat “unusual and uncertain macroeconomic environment”







    Amid an exercise to wind up certain verticals as part of global exercise to cut costs, Amazon on Monday announced to shut down its wholesale distribution business in India.

    The e-commerce major is discontinuing Amazon Distribution, its wholesale e-commerce website available in some parts of Bengaluru, Mysore and Hubli.

    Amazon.

    Amazon.IANS

    The company earlier shut down its food delivery and online learning platform called Academy in India.

    “We don’t take these decisions lightly. We are discontinuing this programme in a phased manner to take care of current customers and partners,” a company spokesperson said in a statement.

    Amazon’s distribution service

    Amazon had launched its distribution service to empower local kirana stores, pharmacies and department stores in the country.

    Amazon

    AmazonIANS

    Last week, Amazon said it is shutting down its food delivery business in India, a day after it announced to shut down its edtech vertical in the country.

    Amazon started its food delivery service in India in May 2020.

    “As part of our annual operating planning review process, we have made the decision to discontinue Amazon Food,” said a company spokesperson.

    The company has denied laying off people in India.

    (With inputs from IANS)

  • Apple launches Oceanic+ app on Watch Ultra; pricing, features explained [read now]

    Apple Far Out event quick highlights







    Apple has launched the new Oceanic+ app to its Watch Ultra, which allows scuba divers to take the watch to previously unreachable depths, including up to 130 feet.

    In a blogpost on Monday, Apple said the new app turns the watch into a powerful and easy-to-use dive computer.

    The basic plan of Oceanic+ is free which provides basic functions, including depth and time and logging recent dives.

    Apple launches Oceanic app on Watch Ultra

    Apple launches Oceanic app on Watch UltraApple

    But to access more advanced features, the plan costs Rs 969 per month and annually for Rs 7,700.

    Family Sharing is also available for Rs 11,900 yearly, which gives access to up to five people.

    Apple collaborated with Huish Outdoors to design the app.

    “Oceanic+ on Apple Watch Ultra is one of the biggest innovations to hit the dive industry in a long time. We’re creating an accessible, shareable, better diving experience for everybody,” said Mike Huish, CEO, Huish Outdoors.

    Both the companion iPhone app and the Oceanic+ offer all of the essential functions of an advanced dive computer, robust dive planning, and a comprehensive post-dive experience.

    Apple launches Oceanic app on Watch Ultra

    Apple launches Oceanic app on Watch UltraApple

    Andrea Silvestri, Huish Outdoors’ vice president of product development and design, led the creation of Oceanic+ and has been testing the application on the watch underwater to get the app ready for the launch.

    He praises the simplicity of the Watch Ultra, which frees divers from the strain of having to perform complex mental calculations and button presses required by other dive computers. This allows them to remain present and attentive to their surroundings.

    Users can enter their surface time, depth and gas in the dive planner, and the app will calculate their No Deco (no-decompression) time — a measurement used to set a time restriction for a diver at a specific depth.

    Dive conditions, such as tides, water temperature, and even recent information from the community, including visibility and currents, are also included in the planner.

    “One of the most intuitive features of Oceanic+ on Apple Watch Ultra is the haptic feedback, a design feat of both the hardware and software that enables the watch to tap users on the wrist through a series of vibrations, allowing divers to feel notifications underwater –even through a wetsuit that’s 7mm thick,” Apple said in the blogpost.

    (With inputs from IANS)

  • Girles Token AMA, What to Expect from this Crypto Presale?

    Recently, a trending crypto presale of the decentralized NFT GameFi token has appeared, which is ready for the 2nd stage of the presale, increasing the price by +22.87%. In honor of this, a couple of days before the transition to a new presale stage, experts held an AMA with the developers of Girles Metaverse.

    The experts held the first AMA with the developers of Girles Token to find out the intentions and goals of the Girles Metaverse. Girles Token is a decentralized NFT GameFi token created on the Ethereum platform, the presale for which is available to investors right now on the website.

    1. What happens if not all tokens are sold during the presale?

    The remaining tokens after all stages of the presale will be burned.

    2. What will be the price of the token at the time of listing?

    The cost of the token at the fifth stage of the presale is $0.003571 per token. This value will be set upon listing.

    3. When will there be a listing on the exchanges?

    According to our roadmap, an active listing on the exchanges will occur in stage 3 of the roadmap, but the token will also go through several listings after a successful presale.

    4. How many tokens are allocated for liquidity on exchanges?
    The total liquidity percentage in tokenomics is 21.07%, among which 677M tokens will be allocated for liquidity on centralized exchanges.

    5. What 3 terms can describe a token?

    GameFi, Metaverse, Future.

    6. What is the Girles Metaverse team up to now?

    Now we are actively looking for platforms for advertising, and we are also actively developing the NFT Market and Minecraft P2E server, information about which we will publish soon.

    7. When will the token pass the Audit?

    The token has already been audited by Cyberscope, and other contracts will be audited following the roadmap!

    8. Girles Token is this meme coin?

    Definitely not! Girles Token is first and foremost an NFT GameFi token with a growing community and new ideas. We’re trying to be something big!

    9. Why didn’t you flag the Marketing Campaign in the Roadmap? Are we in for something big?

    There is no limit to perfection! We are still looking for platforms for promotion, so everything is just ahead.

    10.Is the token code open?

    Yes, the token code can be viewed on Etherscan, where we confirmed the token contract.

    11. How many days did it take to launch the presale?

    Since the Girles Metaverse site is not a one-page site, it took about 70 days to develop the contracts and the site. Most of the time was taken by testing because we do not like to present raw products.

    12. When will be NFT Minting and how many stages will there be?

    NFT Minting is already available for users, and NFT Minting has already moved to stage 2. In total, there will be 7 stages, as a result of which the Minting Fee will increase from 0.25 ETH to 4 ETH.

    13. Will new girles tokens be minted?

    Not! The peculiarity of the token does not allow minting new tokens and increasing the Max Total Supply. Girles Token has many security features.

    14. How much can one earn by investing in the early stages of the presale?

    The presale of the token has a 207.05% ROI. It means that by investing in the early stages, the investor can get up to 207.05% profit during the presale.

    15. Will there be an NFTs listing?

    Yes, soon we will list the NFT collection on the relevant NFT sites.

    Bonus Question:

    16. Will there be airdrops among investors?

    Yes, we are currently working with a company that will help us with this

    To purchase a token, use the links below:

    Presale here: https://girles.org/presale

    IBT does not endorse the above content.

  • Meta denies Mark Zuckerberg is set to resign next year

    Humans can live on Moon for longer periods in this decade: NASA







    Meta (formerly Facebook) has denied reports that its founder and CEO Mark Zuckerberg is resigning next year amid slow growth and massive layoffs at the social network.

    The Leak portal first reported, citing its source privy to plans at Meta, that “Zuckerberg is set to resign next year”.

    The report claimed that Zuckerberg has decided to step down himself and it will not “affect metaverse”, his multi-billion dollar project.

    Andy Stone, Meta’s Communications Director, refuted the report late on Tuesday, tweeting that “This is false”.

    Despite serious concerns raised by investors and industry experts, Zuckerberg is determined to aggressively push his Metaverse dream.

    Mark Zuckerberg

    Mark ZuckerbergIANS

    Earlier this month, in one of the worst lay-offs ever in the tech industry, Zuckerberg sacked more than 11,000 employees — about 13 per cent of the global workforce — and extended hiring freeze through Q1 2023.

    The company posted another quarterly revenue decline as investors begin to lose faith in its loss-making, billion-dollars metaverse dream.

    In the third quarter (Q3), Meta’s revenue declined 4 per cent year over year to hit $27.7 billion. The company posted a net income of $4.395 billion, down from $9.194 billion year over year.

    This decline was due to Meta‘s huge losses in Reality Labs, Meta’s virtual reality division, which lost $3.672 billion in Q3.

    “There’s still a long road ahead to build the next computing platform. But we’re clearly doing leading work here. This is a massive undertaking and it’s often going to take a few versions of each product before they become mainstream,” Zuckerberg had said.

    Meta

    MetaIANS

    Meta CFO David Wehner, however, said that some of the revenue decline is due to inflation.

    Meta investors have called on the company to reduce its workforce by at least 20 per cent and stop making investments in metaverse.

    In a sharp criticism of Zuckerberg, Altimeter Capital Chair and CEO Brad Gerstner had said that the social network needs to reduce more headcounts and stop spending too much on metaverse to get its “mojo back”.

    (WIth inputs from IANS)

  • Over 850 tech firms lay off over 137,492 workers globally; more job cuts coming [details]

    Amazon begins mass layoffs to combat “unusual and uncertain macroeconomic environment”







    As more and more companies across the spectrum sack employees amid the global meltdown, at least 853 tech companies worldwide have laid off about 137,492 employees to date, and the tally is only going north amid recession fears.

    According to data from layoffs, a crowdsourced database of tech layoffs, 1,388 tech companies have fired a total of 233,483 employees since the onset of Covid-19, but 2022 has been the worst for the tech sector.

    Should India layoff unproductive civil servants?

    Pixabay

    As of mid-November, more than 73,000 workers in the US tech sector have been laid off in mass-level job cuts led by companies like Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others.

    Robinhood, Glossier, and Better are just a few of the tech companies that have notably trimmed their headcount in 2022, according to Crunchbase.

    Big Tech companies like Amazon and PC and printer major HP Inc have joined the global layoff season, and were set to lay off more than 10,000 and up to 6,000 employees in days to come, respectively.

    Amazon CEO Andy Jassy has warned employees that there will be more layoffs at the company in early 2023 “as leaders continue to make adjustments”.

    Amazon logo

    AmazonReuters

    The massive job cuts have hit several divisions, especially the Alexa virtual assistant business that reportedly set to lose $10 billion this year as the voice assistant never managed to create an ongoing revenue stream.

    Alphabet, Google’s parent company, is reportedly gearing up to lay off about 10,000 “poor performing” employees, or 6 per cent of its workforce.

    According to a report in The Information, Google plans to ease out 10,000 employees through a new ranking and performance improvement plan.

    In India, nearly 16,000 employees have been asked to go by about 44 startups, led by edtech companies like BYJU’S, Unacademy, and Vedantu, as VC funding dried up.

    Other tech startups and unicorns that have laid off employees in India include Ola, Cars24, Meesho, LEAD, MPL, Innovaccer, Udaan and more.

    Meanwhile, thousands of contractual employees have also been let go, making 2022 the harshest year for workers in the technology sector.

    The startup ecosystem’s funding winter could last another 12 to 18 months and the industry may face “a lot of turmoil and volatility”, Flipkart CEO Kalyan Krishnamurthy has warned.

    Indian startups are going through steep hiring cuts and hiring of permanent employees has dipped by a significant 61 per cent in the last 12 months,Aaccording to the annual insights report by RazorpayX Payroll, the business banking platform of Razorpay.

    Only two startups in India, Shiprocket and OneCard, attained the unicorn status (valuation $1 billion and above) in the July-September period, according to a latest PwC India report.

    (With inputs from IANS)

  • Apple makes about Rs 1.5L every second, Microsoft pockets Rs 1.1L

    Apple Far Out event quick highlights







    Do you know how much profit Apple makes every second? It is a staggering over $1,820 (over Rs 1.48 lakh), making the iPhone maker the world’s most profitable company — generating about $157 million (more than Rs 1,282 crore) a day.

    Fellow tech giants Microsoft and Alphabet (the parent company of Google), as well as Warren Buffet’s Berkshire Hathaway, also draw in more than a thousand dollars each second, which works out at over $100 million a day, according to new research by Tipalti, an accounting software financial technology business.

    Apple iPad Pro

    The Apple logo is seen behind new Apple iPad Pros on display during an Apple media event in San Francisco, California, September 9, 2015.REUTERS/Beck Diefenbach

    At second spot, Microsoft makes about $1,404 (Rs 1.14 lakh) per second and Berkshire Hathaway $1,348 (about Rs 1.10 lakh) a second.

    “To put this into context, the average worker in the US is projected to earn $1.7 million in their lifetime, meaning the average American will earn less in their lifetime than every company on this list earns an hour,” according to the research.

    The average annual salary in the US is $74,738, or $1,433.33 per week, meaning that Apple makes $387 (27.01 per cent) more per second than the average American worker makes in a whole week.

    While Alphabet makes $1,277 per second at the fourth spot, Meta Platforms generates $924 in profit every second.

    google

    The brand logo of Alphabet Inc’s Google is seen outside its office in Beijing, China on August 8, 2018.Reuters

    At the other end of the scale, Uber Technologies made a huge loss of $6.8 billion in 2021, equating to $215 every second. Despite being the world’s largest ride-hailing app, Uber has famously never turned a profit.

    General Electric saw the biggest increase in year-on-year profits of $10.68 billion, while Meta Platforms (formerly Facebook) is close behind with a profit increase of $10.66 billion, according to the research.

    Online retail giant Amazon saw the third largest increase in profits, making $9.74 billion more in 2021 than it did in 2020.

    (With inputs from IANS)

  • Amazon to shut food delivery business in India

    Amazing Drone Footage Captures Reclusive Amazon Tribe







    Amazon said on Friday that it is shutting down its food delivery business in India, a day after it announced to shut down its edtech vertical in the country.

    Amazon started its food delivery service in India in May 2020.

    “As part of our annual operating planning review process, we have made the decision to discontinue Amazon Food,” said a company spokesperson.

    Amazon.

    Amazon.IANS

    “We don’t take these decisions lightly. We are discontinuing these programmes in a phased manner to take care of current customers and partners,” the spokesperson added.

    The company had kicked off Amazon Food in Bengaluru.

    Increase protein intake to stay healthy

    IANS

    On Thursday, Amazon had said that it is shutting down its edtech offering called Amazon Academy’s operations in India starting August 2023, and will refund the full fee to those who enrolled in the current academic batch.

    The e-commerce behemoth officially launched Academy (previously called JEE Ready) last year.

    (With inputs from IANS)

  • Gold Price Today, November 23: Yellow metal declines by Rs 1000 over past week, silver also falls on MCX — Check rates in Delhi, Mumbai and other cities

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  • Elon Musk may produce ‘alternative’ smartphones

    Watch out for these smartphones in 2022







    Twitter CEO Elon Musk on Saturday said that he will produce “alternative” smartphones to compete with Apple and Android devices, if the micro-blogging platform gets removed from the application stores.

    It all started when a user tweeted, “If Apple & Google boot Twitter from their app stores, @elonmusk should produce his own smartphone. Half the country would happily ditch the biased, snooping iPhone & Android. The man builds rockets to Mars, a silly little smartphone should be easy, right?”

    Musk replied: “I certainly hope it does not come to that, but, yes, if there is no other choice, I will make an alternative phone.”

    Elon Musk

    Elon MuskIANS

    Several users expressed their thoughts on Musk’s post.

    While one commented, “I bet he will revolutionise the smartphones,” another said, “I feel somehow like this plan is already in the works.”

    Meanwhile, Twitter CEO on Friday said the micro-blogging platform would tentatively relaunch ‘Verified’ service on Friday next week and all verified accounts will be “manually authenticated before check activates”.

    Mobile apps

    IANS

    Musk had earlier paused its $8 Blue subscription service with verification after it faced chaos on the platform as fake accounts with blue badge impersonated real accounts after paying $8, saying it will relaunch it from November 29 — this time more “rock solid”.

    (With inputs from IANS)