Other companies will or are confronting this shift. Post-IPO share declines of Uber, Lyft Inc., Snap Inc., Pinterest Inc. and other richly valued former startups reflect in part investor skittishness about funding fast-growing but sometimes cash-hungry businesses. More young companies will be judged by what they are doing rather than what they might be able to accomplish in a starry future. It’s no longer viable to count on expanding in perpetuity with other people’s money.The sudden impatience about startups has also trained a spotlight on the SoftBank Vision Fund, the $100 billion investment pool that is all about encouraging short-term losses to fulfill outsize promise. If you haven’t already, it’s essential to read this Bloomberg Businessweek article about how the Vision Fund operates.Its strategy of arming startups with bazookas of cash means they must think incredibly big to generate bazooka-like returns. That creates sometimes perverse incentives. In one … [Read more...] about Uber will live in the now, not the starry future
New York: Hackers stole the personal data of 57 million customers and drivers from Uber Technologies, a massive breach that the company concealed for more than a year. This week, the ride-hailing firm ousted its chief security officer and one of his deputies for their roles in keeping the hack under wraps, which included a $100,000 payment to the attackers.Compromised data from the October 2016 attack included names, email addresses and phone numbers of 50 million Uber riders around the world, the company told Bloomberg. The personal information of about 7 million drivers was accessed as well, including some 600,000 US driver’s license numbers. No Social Security numbers, credit card information, trip location details or other data were taken, Uber said.At the time of the incident, Uber was negotiating with US regulators investigating separate claims of privacy violations. Uber now says it had a legal obligation to report the hack to regulators and to drivers whose license … [Read more...] about Uber concealed hack that exposed 57 million people’s data
MUMBAI: India, the world’s largest three-wheeler market, is at an in flexion point.The removal of permit system in states such as Maharashtra, coupled with shared mobility providers such as Ola aggressively expanding three-wheeler transportation to provide last mile connectivity for city commuters, is opening up new opportunities Maharashtra accounts for almost 10% of the overall three-wheeler market annually.The national capital, New Delhi, is likely to release fresh permits that can quickly add about 30,000 to 40,000 units per annum in a short time.Seeing the rise of Ola and Uber, the Maharashtra government has expressed a desire to bring in the black-and-yellow autorickshaws and cabs under an app-based business model of its own.According to industry players, the three-wheeler market is likely to cross the major milestone of 1 million units in production in the next couple of years, with domestic market crossing its previous peak of 5.5 lakh units per annum to about 6-7 lakh … [Read more...] about This is why three-wheeler sales likely to pick up speed
Now that the EV policy is notified, those buying electric vehicles will be exempt from paying road tax and registration fee. In addition, a subsidy of ₹5,000 per kWh of the battery capacity up to ₹30,000 will be given on the purchase of each electric two-wheeler, auto-rickshaw, rickshaw and freight vehicle. For the first 1,000 e-cars or electric four-wheelers, a subsidy of ₹10,000 per kWh will be given, capped at ₹150,000 per vehicle. To push people to shift to EVs, the policy also has a “scrapping incentive” for those who make the switch. … [Read more...] about App-based cab trips may get costlier in Delhi, road tax likely to be hiked
Aetna, a major U.S. insurance company, in the past got rid of 2.7 million square feet of office space, saving some 78 million dollars. And with the skyrocketing cost of real estate in major cities like New York, many companies will undoubtedly save a bundle during the pandemic, and possibly beyond. … [Read more...] about Spotlight: Pros and cons of work-from-home amid lingering COVID-19 pandemic in U.S.