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Investor William Ackman throws weight behind dissidents in Harvard board battle
Livemint
·
1y ago
Medial
Billionaire hedge fund manager William Ackman is supporting a bid by four dissident alumni to join Harvard University's board of overseers. Ackman previously called for the university's president to resign. He criticized Harvard for not doing enough to combat antisemitism and for stifling meritocracy through diversity and inclusion programs. The candidates he is endorsing are seeking to protect free speech, address financial mismanagement, and ensure student safety. They must gather enough signatures from Harvard graduates to qualify for the board election in the spring. Last year, Harvard Forward successfully elected four candidates to the board.
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Sam Altman on being fired and rehired by OpenAI
The Verge
·
2m ago
Medial
Sam Altman was rehired as OpenAI’s CEO after a brief, tumultuous boardroom coup. Initially defiant and emotional, he quickly decided to return due to his dedication to OpenAI’s mission of safe AGI and his commitment to the team. The board will conduct an independent review to understand the reasons behind his firing. Microsoft, OpenAI's biggest investor, is set to take a nonvoting board seat. Altman emphasized the company’s resilience and continued progress throughout the ordeal.
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Judge says Elon Musk's claims of harm from OpenAI are a 'stretch' but welcomes possible trial
Economic Times
·
6m ago
Medial
Elon Musk's legal battle with OpenAI centers on his claim that transitioning from a nonprofit to a for-profit entity breaches OpenAI's founding mission. US District Judge Yvonne Gonzalez Rogers expressed skepticism about Musk's claims of irreparable harm but allowed for a potential trial. Concerns were also raised about OpenAI's relationship with Microsoft and potential conflicts of interest involving board members. Musk, an early investor, argues that the conversion undermines his contributions to the organization.
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White knight in control? Ranjan Pai seen setting course at Aakash
Economic Times
·
1y ago
Medial
Ranjan Pai, chairman of Manipal Education and Medical Group, has emerged as a key player in the internal battle at Byju's edtech firm. Pai has acquired a 40% stake in Aakash Institute, Byju's coaching arm, and invested an additional INR 250 crore ($33.07 million) as working capital. Byju's investors have accepted Pai's acquisition of Aakash and are increasingly leaning towards involving him in strategic decision-making. The debt conversion and valuation of Aakash have been major triggers for the investor dispute, with Byju's experiencing value erosion in several acquisitions. The investor battle has also affected Byju's plans to sell assets like Epic and Great Learning.
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Manipal Hospitals backer Novo Holdings names former KKR exec as India head
VCCircle
·
6m ago
Medial
Novo Holdings, a Danish investment firm and investor in Manipal Hospitals and Qure.ai Technologies in India, has appointed Karthik Narayanaswamy as its new India head. This move aims to enhance the firm's activities in the South Asian market. Novo Holdings is known for its healthcare investments and owns a majority stake in the weight-loss drugmaker, Novo Nordisk.
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Starbucks Labor Group Plans Board Fight
Livemint
·
1y ago
Medial
A labor group, the Strategic Organizing Center, is seeking representation on the Starbucks board in an ongoing battle over pay and working conditions. The group, backed by labor unions such as the Service Employees International Union, has nominated three director candidates. The coalition argues that Starbucks' resistance to unionization efforts has exposed the company to legal and financial risks. The success of this proxy battle will likely depend on the support of major index funds and proxy advisors.
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Twitter’s former head of trust and safety breaks her silence
Wired
·
1y ago
Medial
Del Harvey, former head of Twitter's trust and safety team, breaks her two-year silence, revealing her decision-making process behind content moderation. Known for her pseudonym @delbius, Harvey discusses the challenges of handling sensitive situations and the weight of the responsibility, highlighting the difficulty of making decisions that may not be popular and the potential life-and-death consequences. After leaving Twitter, Harvey is now involved in children's theater productions while maintaining a low profile.
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Lessons from Byju's. What not to do while building a startup.
Inc42
·
1y ago
Medial
BYJU'S, once celebrated as an edtech beacon, faces challenges, with reports of cofounder and group CEO Byju Raveendran under pressure to reduce operational involvement. Recent setbacks include the departure of the group CTO, a legal battle with the Board of Control for Cricket in India (BCCI), and a significant markdown in valuation by Netherlands-based Prosus.
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Eternal Draws the Line on Foreign Ownership—Could MSCI Be the Next to Exit?
OutlookIndia
·
2m ago
Medial
Eternal Ltd shareholders voted to cap foreign ownership at 49.5%, raising concerns about its status in the MSCI Emerging Market Index. Currently, foreign investors hold a 44.8% stake, potentially rising to 46%. The move to become Indian-owned could allow control over inventory and improve profit margins. However, these changes risk significant capital outflows if MSCI reduces Eternal's index weight or excludes it. Jefferies emphasizes uncertainty over future foreign portfolio investor behavior.
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Mobikwik shares rallied 43% in just 2 days; here's what analysts say
Business Today
·
4m ago
Medial
MobiKwik shares surged by 42.94% over two trading days, with a day high of Rs 355, following a 19.12% increase. Analysts are assessing the reasons behind this rapid growth, likely considering factors such as market conditions, company performance, and potential investor sentiment. The dramatic rise indicates strong investor interest, though experts may offer varied predictions on whether the trend will continue or face corrections in the short term.
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Mahaveer Finance in talks with new investor as existing PE backer doubles down
VCCircle
·
4m ago
Medial
Mahaveer Finance India Ltd, a non-banking finance company, is in discussions to bring a new investor on board. Meanwhile, an existing private equity investor is increasing its investment in the company. Based in Chennai, Mahaveer Finance offers loans for used commercial and passenger vehicles through its network of 67 branches.
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