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Transport strike hits India's Silicon Valley

Reuters · 1y ago

Transport strike hits India's Silicon Valley

Thousands of Uber and Ola taxis in Bengaluru went on strike to protest a state government scheme offering free transport to women on non-premium government buses, which they claim has hurt their livelihoods. The strike disrupted transportation for commuters, including students and office workers. Bengaluru is a key market for ride-hailing companies in India. The strike prompted some companies to allow employees to work from home, while others advised alternative transportation options.

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Google, Walmart ask Bengaluru staff to work at home amid state water dispute

Reuters · 1y ago

Google, Walmart ask Bengaluru staff to work at home amid state water dispute

Multinational companies like Walmart and Google have asked their employees in Bengaluru, India to work from home due to protests stemming from a river water sharing dispute between two states. Activists are demanding that state authorities stop releasing water from the Cauvery river to Tamil Nadu. Other firms, such as IBM and Accenture, have also advised their employees to work remotely during the strike. Bengaluru, known as India's Silicon Valley, is home to numerous technology companies. The water dispute has been a source of tension between Karnataka and Tamil Nadu for over a century.

Silicon Valley now deeply enmeshed in all things Trump: Indian American venture capitalist

Economic Times

Economic Times · 6m ago

Silicon Valley now deeply enmeshed in all things Trump: Indian American venture capitalist

Silicon Valley has become intricately involved with the Trump administration, as top minds are being recruited, according to Indian American venture capitalist Asha Jadeja Motwani. President-elect Trump has appointed key Silicon Valley figures like David Sacks and Sriram Krishnan to significant roles. Motwani, an early Trump supporter, is a prominent investor in Indian startups. Her Motwani Jadeja Foundation is highlighting India's startup ecosystem at the 2025 Consumer Electronics Show, featuring ten innovative Indian companies.

We should go beyond B'luru, build our Silicon Valley of India: Piyush Goyal

Inshorts · 10m ago

We should go beyond B'luru, build our Silicon Valley of India: Piyush Goyal

Union Minister Piyush Goyal said India should aspire to go beyond and create its own 'Silicon Valley of India'. Speaking at an event on Tuesday, Goyal added, "I know Bengaluru does take pride in being the Silicon Valley of India, but it is time now to think about creating a whole new township dedicated to entrepreneurs, startups, innovators and disruptors."

Ola and Uber to stop working in Pune and Pimpri Chinchwad from February 20; Here's the reason

IndianStartupNews

IndianStartupNews · 1y ago

Ola and Uber to stop working in Pune and Pimpri Chinchwad from February 20; Here's the reason

Cab and autorickshaw drivers affiliated with Ola and Uber in Pune and Pimpri Chinchwad have announced an indefinite strike beginning on February 20. The strike is in protest against the failure of these companies to implement revised cab fares mandated by the Regional Transport Authority (RTA) since January 3. The demonstration aims to demand fare adjustments and will impact the availability of ride-hailing services in the affected areas. The RTA had approved new fare rates, and discussions with the regional transport officer and district collector are ongoing.

As 2024 begins, Silicon Valley wants you to be optimistic about AI

Gizmodo

Gizmodo · 1y ago

As 2024 begins, Silicon Valley wants you to be optimistic about AI

In Silicon Valley, the tech industry continues to push bizarre and sometimes wasteful products onto consumers. AI is currently the hottest industry, promising new, but sometimes useless or nonsensical products in 2024. From chatbots to AI-generated music, the industry seems to be focused on eliminating human labor and contributing to the erosion of the middle class. Stay tuned for more developments in Silicon Valley this year.

SVB Financial to sell Indian arm to First Citizens

VCCircle

VCCircle · 1y ago

SVB Financial to sell Indian arm to First Citizens

SVB Financial Group, the bankrupt parent company of Silicon Valley Bank, plans to sell its Indian subsidiary, SVB Global Services India, to First Citizens Bancshares. The sale is subject to approval from a bankruptcy court, with a hearing scheduled for April 9. SVB Financial Group filed for bankruptcy last year after Silicon Valley Bank collapsed, resulting in one of the largest bank failures in U.S. history. First Citizens had previously purchased SVB's assets and deposits for a fraction of their original value.

SVB’s commercial banking president: ‘Come on back, the water’s fine’

TechCrunch · 1y ago

SVB’s commercial banking president: ‘Come on back, the water’s fine’

Silicon Valley Bank's collapse in March created a void in the banking world, prompting startups and investors to seek new alternatives. Mercury and Piermont Bank experienced an influx of calls during that time, with Mercury gaining $2 billion and 3,000 customers, while Piermont focused on opening accounts rapidly. The panel discussion at TechCrunch Disrupt Fintech Stage explored filling the gap left by Silicon Valley Bank, emphasizing the importance of culture, improving banking experiences, and the need for adaptable products from banking partners. Safety and stability remain crucial factors in choosing a banking partner.

Silicon Valley’s Next Mission: Help the U.S. Catch China and Russia in Hypersonic Weapons

Livemint

Livemint · 1y ago

Silicon Valley’s Next Mission: Help the U.S. Catch China and Russia in Hypersonic Weapons

Venture capitalists in Silicon Valley are investing hundreds of millions of dollars into the development of hypersonic weapons technology. The U.S. military has lagged behind China and Russia in the development of hypersonic missiles, leading to increased interest from Silicon Valley in filling this gap. Startups in the sector are pitching their expertise and private capital to lower costs for the Defense Department. Venture capitalists have invested over $500 million into U.S. hypersonic startups in the past two years. However, the commercial tech sector faces challenges in dealing with the complexities of the defense industry.

Investor's tip to Indian manufacturers: Adopt tech and become 'Silicon Valley' for global funds

Economic Times

Economic Times · 25d ago

Investor's tip to Indian manufacturers: Adopt tech and become 'Silicon Valley' for global funds

Ankit Kedia, a Bengaluru-based industrialist and investor, emphasizes the potential for India's manufacturing sector to become a tech-driven "Silicon Valley" for global investors, given government incentives. He advocates adopting affordable technology for low-cost manufacturers in tier 2 and 3 cities to expand globally. Kedia is raising ₹400 crore for a Fund-2, supporting manufacturing growth through AI and targeting international sovereign funds, leveraging India’s market size and Production Linked Incentive schemes.

PM Modi showcases India’s tech prowess during US visit: key takeaways

Economic Times

Economic Times · 9m ago

PM Modi showcases India’s tech prowess during US visit: key takeaways

Indian Prime Minister Narendra Modi recently visited the US to highlight India's growth potential in the technology sector. During his visit, Modi met with Silicon Valley CEOs and government officials to attract investment in India's startup and semiconductor industries. The prime minister emphasized India's innovation-friendly policies and burgeoning market opportunities, which caught the attention and interest of the CEOs. Modi also addressed the Indian American community, discussing India's digital infrastructure and initiatives for domestic semiconductor production. Notable CEOs like Jensen Huang from Nvidia and Sundar Pichai from Google expressed their support and willingness to partner with India in fields like AI and manufacturing.

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