Ritesh Shark 🦈, Byju's Finances 💰, Nvidia Investigation 🕵️‍♂️

Catch up on the latest in tech, business and startups - all in 5 minutes. [Newsletter Banner] Daily News Roundup Welcome to today's edition of the NextBigWhat Daily News! Today's top stories include Ritesh Agarwal becoming a Shark, Byju's financials, and Nvidia under investigation. 🤔 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( OYO Rooms founder Ritesh Agarwal becomes youngest Shark on Shark Tank India Season 3 - Ritesh Agarwal, founder of OYO Rooms, joins Shark Tank India Season 3 as the youngest panel member. - Agarwal, a self-made billionaire, founded OYO Rooms at 19, which is now one of the world’s largest hotel chains. - His debut video on Shark Tank India went viral after Sony Television announced his participation on social media. Byju’s to hold key board meeting for FY22 financial approval - Byju’s parent company, Think and Learn Pvt Ltd, plans a board meeting in October to approve and adopt its FY22 results. - The meeting will include the board of directors, advisory council, and select invitees, following the departure of investor board members and the resignation of previous auditor, Deloitte. - Byju’s has appointed BDO as its new auditor and Ajay Goel as CFO to expedite the audit process, amidst restructuring affecting over 4,000 employees. PhonePe’s App Store: 3+1 questions [NBW Newsletter Ad]( nextbigwhat brings you curated news, product and tech trends across a range of industries. PhonePe has announced the launch of its upcoming app store (Indus), which is the result of its earlier acquisition of IndusOS. The PR so far has been about anti-Google stand. [Read]( Apple working on iOS 17 update to resolve iPhone 15 Pro overheating problem - Apple has acknowledged a software bug causing the iPhone 15 series, particularly the Pro models, to overheat and is developing an iOS 17 update to fix it. - The overheating issue is not related to the new titanium chassis or the USB-C port on the new handsets, and certain apps like Instagram have been identified as contributing to the problem. - Despite the high temperatures, Apple assures there are no safety issues preventing users from using the new iPhone 15 Pro and iPhone 15 Pro Max. Apple Uses Microscopic QR Codes on iPhone Glass to Reduce Defects and Cut Costs - Apple etches two QR codes onto the reverse side of iPhone screens to track production and defect rates. - These codes are placed during different stages of production and require special equipment for viewing. - The system has significantly reduced defects and saved Apple hundreds of millions of dollars yearly. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( X, Formerly Twitter, Has Paid $20M to Creators, Claims CEO - Payments began July, initially totaling $5M, suggesting more creators have joined the platform or ad impressions increased. - Eligibility for creators includes subscribing to X Premium, having 500+ followers, and 5 million tweet impressions over three months. - This shift to incentivize creators changes Twitter’s initial difficulty in converting followers into profits. India Pursues Lower Cross-Border Payment Costs Through International Cooperation, Central Bank Digital Currency - RBI Deputy Governor T Rabi Sankar discusses the high cost of global remittances, calling for a technologically viable solution. - India is negotiating with more jurisdictions, exploring the central bank digital currency (CBDC) as a potential solution to bring down cross-border payment costs. - Sankar stressed the need for international cooperation to implement these changes, but also warned of the risks private digital currencies pose for emerging economies. Bombay High Court’s Ruling on Controversial Fact Check Amendment Expected on December 1 - The fact check amendment empowers the government to flag potentially incorrect online information, leading to concerns about censorship and infringement on free speech. - Governments’ notice is advisory and intermediaries can choose to act or ignore, albeit risking loss of safe harbour protections. - Petitioners criticize this proposed structure, alleging potential self-censorship amongst intermediaries and ensuing effects on online free speech. OpenAI CEO Sam Altman Envisions Replacing Ordinary Workers with AI - Altman refers to ‘median human’ as an entity an artificial general intelligence (AGI) would replace. - The notion of replacing average jobs with AI has raised concern, labelling it as dehumanizing and vague. - Altman has been critiqued for equating human intelligence to AI performance, which is seen as a problematic assertion. Apple Invests in AI Development, Increases UK-Based Hiring - CEO Tim Cook confirms hiring in the UK for development of generative AI. - Apple’s AI inclusion prevalent in features like Crash Detection, Afib detection, ECG functionality and predictive typing. - Apple’s move into AI aligns with trends by tech companies like Google, Microsoft, OpenAI and Meta. Nvidia under Investigation in France Over Alleged Anti-competitive Practices - French authorities raided Nvidia offices on suspicions of anti-competitive behavior, following a market study on the cloud sector. - The inquiry into Nvidia comes as the firm recorded a soaring 101% revenue increase to $13.5 billion, driven by sales of AI processors to tech giants like Microsoft and Amazon. - Although the Autorité de la concurrence can’t confirm guilt at this stage, it aims to ensure large players don’t stifle the growth of smaller, emerging companies. AI a transformative force in geopolitics, says Political Scientist Ian Bremmer - Artificial Intelligence (AI) will impact geopolitics and globalization, potentially fostering a new global middle class while posing risks like hacking. - Global leaders are working to understand and regulate AI technology, an effort that involves collaboration between governments, tech companies, and scientists. - Bremmer proposed creating an intergovernmental panel and ‘geo-technology stability board’ for global AI oversight, stressing the need for collaborative, not competitive, approaches to AI regulation. Amazon’s Bedrock generative AI service now widely available - Bedrock allows AWS customers to build and customize apps on generative AI models. - In the coming weeks, Bedrock will include Llama 2, the open source large language model from Meta. - Amazon also rolled out its Titan Embeddings model, a tool converting text to numerical representations for search and personalization applications. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](