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In Today’s Edition
BYJU’S EGM: No Discussion Took Place On Ouster Of CEO Byju Raveendran, Say Investors
Swiggy To Launch Co-Branded Credit Card With HDFC Bank
Former Pfizer employee charged with insider trading on unreleased Covid pill data
ChatGPT Drops About 10% in Traffic as the Novelty Wears Off
Leaked Pixel 8 Pro photos give first real look at Google’s upcoming flagship
Heat Pumps - The Well-Tempered Future of A/Cs
🚀Startups Nuts
Two investors of BYJU’S told Inc42 that there was no discussion on the ouster of Byju Raveendran as the CEO of the beleaguered edtech giant. Ark Impact Asset Management’s MD Alan Kim and DST Global managing partner Saurabh Gupta said there was no discussion on removal of Raveendran as CEO. Earlier, reports said some investors called for the ouster of Raveendran to make space for a new interim CEO during the company's EGM.
Swiggy will partner with HDFC Bank to offer the co-branded credit card, with Mastercard expected to be the network partner. The foodtech giant has reportedly set up a sizable tech team for the banking integrations to launch the product fast. The foodtech’s move comes when it is moving pieces around the chessboard to arrive at the most profitable outcome.
🏭Business Nuts
Meta's Twitter competitor Threads, is now available. It can be accessed on iOS, Android, and the web. Threads allow users to create text-based posts with up to 500 characters, share photos, and upload videos up to five minutes long. It looks similar to Twitter, with an interface that gives users the option to like, comment, repost, and share threads. Users can log in with their Instagram usernames or create a new account. Threads do not currently support ActivityPub, but there are plans to integrate the protocol later. The app is not available in the EU due to the EU's strict privacy regulation.
The Justice Department charged a former Pfizer employee and his friend with illegally trading shares based on non-public trial results on the Covid antiviral pill Paxlovid. The Securities and Exchange Commission announced its own insider trading charges against the former employee, Amit Dagar, and his friend, Atul Bhiwapurkar. Amit Dagar, who helped manage and analyze certain clinical trial data, and Bhiwapurkar sold their Pfizer call options at “significant profits” totaling more than $350,000.
📱Tech Nuts
ChatGPT's traffic declined for the first time from May to June. Worldwide unique visitors to the site dropped by 5.7%, with the amount of time spent on the site down 8.5%. ChatGPT still attracts more visitors than Bing.com. Charts showing ChatGPT's growth and recent decline are available in the article.
Two leaked photos of Google's Pixel 8 Pro were recently posted to Reddit before being swiftly removed. They showed a new triple-camera setup housed entirely in a single glass oval and a new sensor to measure body temperature. It appears that Google has swapped the curve display for a flat one. The photos are available in the article.
🔥Newsletter Spotlight
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🎁Miscellaneous
Air-conditioners keep people comfortable and alive. Extreme heat waves are killing more and more people every year. The demand for more air-conditioners is exacerbating climate change due to increased demand for electricity and the leakage of refrigerants. Both winners of the 2021 Global Cooling Prize were heat pumps that reduce cooling's climate impact by up to 80 percent. Heat pumps address the problems of emissions while providing a source of emissions-free power. They're also comparatively cheaper to install than central air-conditioners.
💡What else are we reading and seeing?
Why Instagram is taking on Twitter with Threads
The Many Ways that Digital Minds Can Know
So where are we all supposed to go now?
AI and the automation of work
Why transformative AI is hard to achieve
Why lifelong learning is the key to entrepreneurial success
😎Fun Fact
The world's largest jigsaw puzzle, "Memorable Disney Moments," contains over 40,000 pieces and measures 27 feet by 6 feet when completed.
🐦Tweet of the Day
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