The Signal - Zoomcar is a wreck
Zoomcar is a wreckAlso in today’s edition: Sports CSR is hot rn; Beijing crackdown on finbro paychecksGood morning! Notwithstanding a ban in the US unless court comes to its rescue, TikTok has quietly rolled out an Instagram knockoff named Whee. If you haven’t heard of it, it is probably by design. TechCrunch reports TikTok’s parent company ByteDance isn’t advertising Whee on app stores, which explains why it is not catching on with users. So what’s TikTok thinking then? Maybe ByteDance wants a backup plan to stay in the US if the TikTok ban sticks. Oh, and Whee isn't TikTok's first Instagram copycat either. There's also Lemon8. Well, all these attempts at alternative social media shows that, if nothing else, TikTok is at least going down swinging. Dinesh Narayanan, Roshni Nair, and Anup Semwal also contributed to today’s edition. The Market Signal*CSRCorporates Are Being Good SportsIndian companies typically direct corporate social responsibility (CSR) resources towards education, healthcare, gender equality, and environment. This mix is changing as conglomerates make aggressive pushes into sport as a sector offering more than promotional value. Take Reliance Foundation, which established an ‘India House’ in Paris for next month’s Olympics. Coca-Cola India has a three-year initiative to support women’s hockey. JSW, which signed track and field star Neeraj Chopra as brand ambassador, has had a Sports Excellence Program (SEP) since 2012. SEP has backed Chopra and women wrestlers such as Sakshi Malik and the Phogat sisters for years. Details of CSR spending are voluntary, but The Economic Times estimates that sports initiatives accounted for Rs 280 crore in FY23, up from the Rs 248 crore average during FY19-FY22. This will increase in the run-up to India bidding for the 2036 Olympics, though the endeavour will require more grassroots programmes to back ‘newer’ sports like fencing. WORKBottled PayoutsWhile the rest of the world debates whether or not to tax the wealthy, China is determined to make the well-heeled pay by not letting them earn. Senior executives in finance companies not only have their payouts capped, some have even been asked to return previously earned remuneration. Bond traders, investment bankers and fund managers, who typically earned fat bonuses and lavish lifestyles, now have a 2.9 million yuan or $400,000 pay ceiling. The cap is a result of Beijing’s anti-corruption drives that have ensnared at least 130 executives and officials in the financial sector, Bloomberg reported. The crackdown has caused a talent exodus from the industry even as deals dry up in a weak economic environment. The Chinese economy has struggled to revive despite government efforts. China first began graft inspections in the finance industry in 2021 and this is the second round. TECHZoom |
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A farewell note
Thursday, June 27, 2024
Dear reader, This is my last week steering The Signal and associated publications. Three years ago this month, five of us came together to start a company that took over the publication of this
Cool heads will prevail
Thursday, June 27, 2024
Also in today's edition: Silver lining for Indian carmakers; Capex give, capex take ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
No workplace for married women
Wednesday, June 26, 2024
Also in today's edition: Lahori's boon is also its bane; 'Vernacular' chatbots are almost here, and that may not be a good thing ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
TikTok is losing its cash cow
Tuesday, June 25, 2024
Also in today's edition: Dead weight freight corridor; A stark contrast between the Modi and Godrej families ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Fruitful tech for exclusive mango
Monday, June 24, 2024
Also in today's edition: Unsolved education; Apple 🤝Meta for AI? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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