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News on Medial
Transport strike hits India's Silicon Valley
Reuters
·
1y ago
Medial
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
Medial
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.
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Silicon Valley now deeply enmeshed in all things Trump: Indian American venture capitalist
Economic Times
·
7m ago
Medial
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.
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We should go beyond B'luru, build our Silicon Valley of India: Piyush Goyal
Inshorts
·
10m ago
Medial
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."
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As 2024 begins, Silicon Valley wants you to be optimistic about AI
Gizmodo
·
1y ago
Medial
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.
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Ola and Uber to stop working in Pune and Pimpri Chinchwad from February 20; Here's the reason
IndianStartupNews
·
1y ago
Medial
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.
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China is building the future of AI, not Silicon Valley, says Alibaba Cloud founder - The Economic Times
Economic Times
·
7d ago
Medial
Wang Jian, Alibaba Cloud founder, emphasized that China, not Silicon Valley, is leading AI development due to innovative foundational models like Qwen and DeepSeek. He highlighted the need for the right talent over expensive hires and criticized the talent poaching culture in Silicon Valley. Wang advocated for focusing on innovation rather than patents and underscored China's role as a testbed for new technologies, positioning it advantageously in AI advancement.
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SVB Financial to sell Indian arm to First Citizens
VCCircle
·
1y ago
Medial
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.
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SVB’s commercial banking president: ‘Come on back, the water’s fine’
TechCrunch
·
1y ago
Medial
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.
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Silicon Valley’s Next Mission: Help the U.S. Catch China and Russia in Hypersonic Weapons
Livemint
·
1y ago
Medial
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.
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Uber, Ola cab operators suspend strike for three days - The Economic Times
Economic Times
·
20d ago
Medial
The Maharashtra Gig Kamgar Manch has suspended a strike by app-based taxi drivers in Mumbai for three days to allow the government time to address their demands, like fare rationalization. The pause was agreed on after discussions with transport officials. The group warns of resuming the strike if demands are unmet by Tuesday. Drivers are encouraged to charge government-set rates, with a focus on fare rationalization and drivers' welfare initiatives.
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