Whale tank: The upscale societies where uber-rich tech and startup czars stay connected and network with o
In Bengaluru, houses in the Billionaires' Street (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Sachin and Binny Bansal, Flipkart cofounders, and its CEO Kalyan Krishnamurthy along with a few Infosys co-founders and the Raveendrans. The owners of several new-age firms such as Unacademy's Gaurav Munjal, PhonePe's Sameer Nigam, Meesho's Vidit Aatrey, the Zetwerk founders dot the palm tree and Mercedes-lined APR. 'India's CTO' Nandan Nilekani, Wipro owners - the Premjis, and Rahul Dravid also own homes in Koramangala, where property rates have already built a formidable moat of exclusivity. Key Points
Economic TimesSulabh International founder Bindeshwar Pathak dies after suffering cardiac arrest
An aide said that Pathak hoisted the national flag in the morning on the occasion of Independence Day and collapsed soon after that. He was rushed to AIIMS Delhi. A source at the hospital said Pathak was declared brought dead at 1.42 pm. Key Points
Economic TimesBudget 2024 | Incentives for start-ups, ONDC expansion: What Paytm's Vijay Shekhar Sharma expects from Union Budget
Paytm founder Vijay Shekhar Sharma when asked about the high attrition rate in the company said, “All is well and all is rocking.” The fin-tech founder shared his expectations of the upcoming Union Budget 2024. Key Points
mint‘Steve Jobs was a natural’: Bill Gates says he will ‘never achieve’ the genius of Apple founder
Apple founder Steve Jobs and Microsoft co-founder Bill Gates had a complex relationship spanning over 30 years, transitioning from allies to rivals. Despite differences, they both left a lasting impact on the world through their companies. Key Points
mintEaseMyTrip co-founder buys property in Gurgaon worth ₹100 crore
The total land area of the Gurgaon plot is 43,594 sq. ft and the total built-up area is 1,00,429 sq. ft, the registration documents showed Key Points
Hindustan Times
Infosys’ founder NR Narayana Murthy inspired by Bhagavad Gita, reveals his favorite Mahabharata character
Murthy also highlighted that there have been times in an entrepreneur’s life when they have to embrace faith and God. He also quoted Bhagavad Gita to impart a lesson to the audience. Key Points
Business TodaySVB Financial gets court approval to sell investment bank
A U.S. bankruptcy judge on Wednesday allowed SVB Financial Group, owner of bankrupt Silicon Valley Bank, to sell its investment banking business to the division's founder. Key Points
ReutersChennai gets social networking platform for food
Chennai has now got a home-grown social networking platform for food enthusiasts. Called Foodwall, the platform will help consumers to engage over anything and everything pertaining to food. “One big problem typically all of us face is where do we go out to eat, to experiment is always an apprehension ...whether the place is good or not. There is no structured platforms for food recommendations. And that is where we come in,” Saravan Krishna M., founder and CEO of Foodwall said. Key Points
The HinduBoard-founder brouhahas: Lessons from the OpenAI-Sam Altman saga; and other top tech, startup stories this
The entire tech world was glued to the drama as we followed the events unfold on Elon Musks X ( formerly Twitter). Props to the US tech press, which covered every aspect of this story, non-stop. Key Points
Economic TimesWhen a flight attendant refused Narayana Murthy's request
India's richest man, Infosys founder Narayana Murthy, and his wife Sudha Murty are both known for living a simple life. They are often seen traveling around Bengaluru in their old Maruti Alto and foregoing on private chartered jets for commercial flights. One Twitter user recounted an old incident involving Narayana Murthy, wherein he recalled his encounter with an unassuming, co passenger who turned out to be the Infosys co-founder. Saleswah CRM CEO, Anindya Chatterjee said that he sat next to Narayana Murthy on a flight from Singapore to Hong Kong during the early 2000s. Key Points
Economic Times
Fallout of Haryana violence: Companies may weigh starting up out of Gurugram on unrest, rains
The city has reported sporadic incidents of violence since Monday's clashes in the neighbouring Nuh district, resulting in a host of companies asking employees to work from home. These incidents have the potential to disrupt the mindset of the investor and startup community. People need to be comforted on an immediate basis with strong measures, said Vikram Gupta, founder and managing partner of IvyCap Ventures. Key Points
Economic TimesBillionaire Infosys founder Narayana Murthy to double private firm’s investments
The money manager of billionaire Infosys Ltd. founder Narayana Murthy will hire professionals and double its $1 billion in investments in the next five years, betting India will emerge as a high-quality manufacturing hub. Key Points
Economic Times10 Quotes by Shiv Nadar on Entrepreneurship and Innovation
Shiv Nadar is an Indian billionaire industrialist and philanthropist. He is the founder and chairman emeritus of HCL Technologies and the Shiv Nadar Foundation. Key Points
Times of IndiaInfosys founder NR Narayana Murthy reveals one quality that helped him soar in his career
Infosys founder NR Narayan Murthy revealed the quality that helped him soar in his career and attain great heights. He also said that wealth-sharing can be a powerful motivation tool. Key Points
India TodayPakistan court acquits Imran Khan in two cases related to May 9 riots
Khan, who remains behind bars in the high-security Adiala Jail in Rawalpindi, and several others including some PTI leaders are facing various allegations in cases related to violence following his arrest on... Key Points
The Tribune India
Paytm-Byju’s crisis: Alphas, cowboys and the strong, silent types
Two of the biggest names in the Indian startup world, Paytm's Vijay Shekhar Sharma and Byju's founder Byju Raveendran, face an existential challenge to their businesses. The recent challenges faced by these founders reflect the excesses of the hyper-funding period and highlight issues of governance, compliance, and transparency. Key Points
Economic TimesMoody’s revises up SoftBank outlook to stable after Arm IPO
SoftBank, which floated a little less than 10% of Arm shares in the IPO, had ¥6.7 trillion ($45 billion) in cash and cash equivalents as of end-September. That cash piles prompted a flurry of new investments by SoftBanks billionaire founder Masayoshi Son, as well as talks with OpenAIs ousted co-founder Sam Altman about helping to fund a possible chip startup. Key Points
Economic TimesWorld's richest billionaires in 2023: Mukesh Ambani at 9th spot. See top 10 list
Forbes' world's richest billionaires: Elon Musk falls to number 2 spot following his ‘X’ acquisition. The report counts 2,640 billionaires, 28 less than 2022. | World News Key Points
Hindustan TimesShark Tank 3: After OYO's Ritesh, Zomato founder Deepinder Goyal joins panel
Shark Tank India season 3 is all set to return on SonyLIV. Here are all the new and old sharks on the panel this time around. Key Points
Hindustan TimesJammin' in Jamnagar: Business, tech elite to descend for wedding of Anant Ambani & Radhika Merchant
The list of international guests expected to attend the pre-wedding celebrations in Jamnagar in early March reads like a veritable who's who of the global business elite. It includes Microsoft founder Bill Gates, Meta CEO Mark Zuckerberg, BlackRock CEO Larry Fink, Blackstone chairman Stephen Schwarzman, Disney CEO Bob Iger, Ivanka Trump and many more. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/J6UIIJFKKJJ6LCQGJ2L2536ZOM.jpg)
Evergrande founder joins list of Chinese tycoons investigated, arrested
The founder of China Evergrande (3333.HK), the world's most indebted property developer, is being investigated for "illegal crimes", a fresh challenge for the tycoon and his embattled company as it struggles to stay afloat. Key Points
ReutersIndia’s tax department investigating FirstCry founder for alleged $50 million tax evasion
India's tax department is investigating the founder of unicorn FirstCry.com on charges of evading taxes to the tune of $50 million. Sources said at least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittals family office, have also received enquiries related to the matter. Key Points
Economic TimesNandan Nilekani's NRJN Family Trust sells Bengaluru residential asset for ₹55 crore
The property, spread over 9,488 sq ft, is located at 3rd Cross, 3rd Block, Koramangala and was sold to V Seetha, the wife of C Valliappa, an industrialist and the founder of the Sona Valliappa Group (an extension of The Sona Group). NRJN was represented by Sreepriya Nellicherry Sivaraman. The deal was registered on January 30, per the registry document shared by Zapkey. Key Points
Economic TimesNearly all wealth gained by world's rich this year comes from AI
International Business News: Nvidia's market value surpasses Intel's as AI-related stocks rally. Lisa Su, CEO of AMD, becomes billionaire. AI craze dominates stock market; 30 of t Key Points
Times Of IndiaIt’s lonely at the top as CEOs reveal that being the final decision-maker has its ups – and its downs
CEOs often experience feelings of loneliness and isolation due to the pressures and responsibilities of their roles, according to a Harvard Business Review survey. The study found that 50% of CEOs reported feeling lonely, with 61% believing it hindered their performance. First-time CEOs were particularly susceptible to these feelings, with nearly 70% reporting negative effects on their performance. The role of a CEO requires making tough decisions and carrying the responsibility for the success or failure of the organization, which can lead to feelings of isolation and the need for a support system. Key Points
Economic Times
In Sharad Pawar’s resignation, a Bal Thackeray parallel: How Sena founder checkmated rebels three decades ago
Following Chhagan Bhujbal’s revolt in July 1992, the Shiv Sena founder announced he was stepping down from the party. In response, Shiv Sainiks rallied behind Thackeray, stamping his authority on the party forever. Key Points
The Indian ExpressLinkedIn co-founder says founders focused on work-life balance can’t win, they lack focus and intensity
LinkedIn co-founder Reid Hoffman is of the idea that successful founders often don't have any work-life balance. He believes that to truly succeed, founders need to be fully committed to their work and willing to put everything into it. Key Points
India TodayEntrepreneur shares credit card details online, asks social media users to spend money; check what netizens bought
Rahul Krishnan, co-founder of BoldCare, gained 3.3 million views by sharing his credit card details on social media, allowing transactions under ₹1,000 and sharing OTPs. The stunt was seen as both clever marketing and irresponsible by users. Key Points
mintRobert F Kennedy Jr hails Julian Assange's release, calls him a ‘generational hero’
Robert F Kennedy Jr. said that Julian Assange's having to plead guilty is “bad news” because he is a “generational hero.” Key Points
Hindustan TimesGovt expedites inspection of crisis-hit Byju's books amid growing troubles
Byju's crisis: The corporate affairs ministry expedited the inspection of Byju's books and submitted a report on Think & Learn Pvt Ltd. Trouble continues at the edtech firm as shareholders voted to remove founder CEO Byju Raveendran from the board. Key Points
Economic Times
Byju’s shareholders vote to oust CEO; company calls it ‘invalid’
The majority of Byju’s shareholders on Friday voted unanimously for removing founder CEO Byju Raveendran and his family from the board over... Key Points
The Tribune IndiaByju's EGM: Investors vote to remove founder from board, edtech says resolutions ‘invalid’
Investors led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the present management of Byjus. They seek to remove Raveendran as CEO, overhaul the board, conduct a forensic audit, and declare the rights issue invalid. Key Points
Economic TimesED seeks lookout notice against BYJU’s founder
The Enforcement Directorate (ED) has requested the Bureau of Immigration to issue a lookout circular against Byju Raveendran, the CEO of ed-tech... Key Points
The Tribune India