hi,
Bhavish Aggarwal dons his Santa hat this Christmas.
AI startup Krutrim is offering a one-time credit of Rs 10,000 to all faculty members and students of IITs to use Krutrim’s cloud platform for a period of 12 months.
Speaking of AI, meet the new AI artist in town – Botto, a “decentralized autonomous artist”.
Botto has produced approximately 150 images, or “works,” that have fetched more than $5 million through auction since 2021. Here’s how it works.
Meanwhile, facing intense competition from Chinese EV makers such as Tesla and BYD, Japanese automobile giants Honda and Nissan are in talks to join hands by 2026.
If overtaken by Toyota and Volkswagen, the combined entity would become the world’s third-largest automaker by global sales.
ICYMI: Netizens are furious about the popcorn tax. This entrepreneur explains why it’s a bad idea.
Finally, before the end of the year, The Guardian Brings us a glimpse into an Amazonian community—the Masako—thriving deep in the rainforest despite environmental threats.
We will talk about it in today’s newsletter
- “Cautious Optimism” in the Job Market
- EV startups hit the streets in 2024
- Indian crypto investors place a long-term bet
Here’s your trivia for today: What periodic table element is named after Paris?
Review 2024
“Cautious Optimism” in the Job Market
The hiring landscape in 2024 saw a delicate balance between caution and optimism. After the tumultuous cycles of the past few years—defined by over-hiring, mass layoffs, and economic headwinds—this year saw the job market stabilize with a renewed focus on strategic hiring.
Naveen Tiwari, co-founder of recruitment firm Scrabble, says “cautiously optimistic” is an apt word to describe the overall mood of hiring in 2024. Despite the economic challenges, overall employment has improved this year, he said
Lessons from 2024:
- Driven by strong demand for skills in AI, cloud computing, and data analytics, recruitment for freshers and entry-level roles will increase in 2024, led by global competency centers (GCCs) and IT services firms.
- “The 2024 layoff wave was driven by global economic uncertainty, the post-pandemic boom, automation, and increased hiring at a time of startup funding challenges,” says Krishna Vij, Business Head, TeamLease Digital, noting that geopolitical tensions further hampered work across industries.
- Experts expect recruitment activity to strengthen next year on the back of improved funding. “As we enter 2025, India’s job market looks set to widen its horizons, with employment projected to grow by 9%,” says Anupama Bhimrajka, Vice President – Marketing, Found.
Design: Nihar Apte
Fund Alert
Startup: EPACK Prefab
Amount: $20M
Round: Equity
Startup: Univest
Amount: $10M
Round: Series A
Startup: Mindgrove Technologies
Amount: $8M
Round: Series A
Review 2024
EV startups hit the streets in 2024
In 2024, EVs enter the mainstream. According to the National Vehicle Registry, 1.8 million EVs have been sold by November this year.
However, the year has also been a test drive for many EV companies, with the government withdrawing subsidies that made these vehicles a cost-efficient alternative to ICE (Internal Combustion Engine) vehicles.
Zooming:
- In August, Bhavish Aggarwal-led Ola Electric was listed on public shares. At the time of listing, one of the sticking points was profitability. Next year, its competitor, Aether Energy, will also go public.
- High costs of vehicle manufacturing, low profit margins, and installation of charging infrastructure are key points for EV adoption. In addition, EV chargers do not follow a uniform standard, which comes with its own set of problems.
- “With the integration of smart charging technologies, vehicle-to-grid capabilities and energy management systems, how EV owners interact with the grid is evolving. It’s no longer just about more charging points; it’s also about making them efficient, accessible, and powered by renewable energy.” It’s about making,” says Akshay Shekhar, CEO and co-founder of Kazam.
Cryptocurrency
Indian crypto investors place a long-term bet
More Indian investors are cashing in on cryptocurrencies as a CoinDCX report revealed that 51.5% of investors’ portfolios now consist of Bitcoin and altcoins (cryptocurrencies other than Bitcoin), indicating a shift towards long-term investment strategies.
Gold pressure:
- According to the report, driven by growing interest in projects such as decentralized finance, layer 2 solutions and decentralized applications, altcoins lead with 34.5% allocation.
- The company also saw a 159.65% increase in trading volume, reflecting the growing number of crypto traders in the country amid market momentum. It also reported a 366.67% increase in assets under management.
- CoinDCX said women from cities like Delhi, Lucknow and Hyderabad now represent 20% of its high-net-worth individual clients. Among their favorite tokens are Bitcoin, Ethereum, MATIC, and the meme coin DOGE.
How much time have you spent on crypto pricing websites to check the prices of Bitcoin or other cryptocurrencies?
News and updates
- TRIBUTES: Indian cinema bids its last farewell after Indian filmmaker Shyam Benegal – a pioneering figure of the Indian parallel cinema movement – passed away in Mumbai at the age of 90.
- Profitability: Founder Pavel Durov said Telegram is now profitable and the chat app’s total revenue will exceed $1 billion in 2024. The company now has 12 million paid users, and the app is ending the year with more than $500 million in cash reserves, not counting. Its crypto assets.
- Probe: The US government launched a new investigation into legacy Chinese semiconductors that could go into everything from cars to home appliances and defense systems. The investigation will look at China’s “operations, policies and practices in the production of silicon carbide substrates or other wafers used as inputs in semiconductor manufacturing.”
Which periodic table element is named after Paris?
Answer: Lutetium. It is named after lutetia, the Latin word for Paris, France.
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