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In Today’s Edition
BYJU’S $1.2 Bn TLB: Consortium Of Lenders Extends Pact For Cooperation
Tata Communications To Acquire NYSE Listed Kaleyra For $100 Mn
Tesla To Add Official Support for Third-Party Services and Apps
Overstock.com will change website name to Bed Bath & Beyond as deal closes
Obesity Drugs Are Moving Way Past Ozempic
🚀Startups Nuts
BYJU’S lenders have agreed to extend a cooperation agreement between them by a minimum of three months. The agreement signed by the lenders’ consortium, requiring them to act in concert while negotiating with BYJU’S, was set to expire in July. BYJU’S has sued one of its creditors, Redwood, in a US court and challenged the lenders’ demand for an acceleration of payment for the loan.
Tata Communications will assume all outstanding debts of Kaleyra as part of the acquisition deal, which is slated to close in the next six to nine months. The acquisition will enable Tata Communications to leverage Kalyera’s resource base, expertise, and scale to strengthen its presence in the US. Tata Communications will acquire 100% stake in the listed startup for $7.25 per share, a significant premium from $0.13 at which the stock closed on June 28.
🏭Business Nuts
A new option in Tesla account settings suggests that Tesla could be close to releasing official support for third-party apps. Support for third-party apps could give users a more customized and privacy-focused experience. Current third-party apps require complete access to the vehicle. Official support could introduce more controlled access, increasing security. Tesla has not revealed much about the feature so it is unknown who will be able to make apps for Teslas and whether developers will have to pay to distribute through the store.
Overstock.com will no longer go by its eponymous name online and will instead move under the Bed Bath & Beyond domain name in the coming weeks. The news comes after Overstock completed its $21.5 million acquisition of Bed Bath’s intellectual property and digital assets, which it hopes will lift sagging sales.
📱Tech Nuts
The graphical user interface and mouse have remained the predominant way to interact with computers over the years. Headsets like Apple's Vision Pro ultimately aim to replace the current computer interface entirely. The idea that head-mounted displays or augmented-reality glasses will replace the screen sounds implausible, but the technology is almost there. This new form of computing promises a completely new way of perceiving and interacting with the world.
A recent Twitter post comparing an older computer running Windows NT 3.51 and a newer one running Windows 11 showed the older computer loading apps instantly while the newer computer showed significant lag. This opened up a discussion on how, while computers have gotten better, performance on trivial tasks has regressed. Latency on modern computer interfaces is getting worse. Frameworks, layers of abstraction, and the mass adoption of managed and interpreted languages are causing a lot of this latency.
🎁Miscellaneous
Several drugs presented at the American Diabetes Association meeting in San Diego over the past few days are likely better treatments for obesity than Ozempic, a popular diabetes drug. Many obesity medications are advancing through development and will be available in the coming years. There will be a range in pricing, effectiveness, side effects, and benefits across the different drugs. While Ozempic may be becoming obsolete, its name seems destined to live on as a generic term, like Band-Aid, escalator, and thermos.
💡What else are we reading and seeing?
😎Fun Fact
Octopuses have three hearts, two of which pump blood to the gills and the other one to the rest of the body.
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