Category: Technology

BOULT IPO likely next year: Co-founder Varun Gupta

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian consumer tech brand BOULT plans to go public next year, with a revenue benchmark of ₹1,000 crore this fiscal, as it expands into international markets and new categories, according to its co-founder Varun Gupta. Gupta spoke in detail about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year.

”We are not focusing on IPO this year, our primary focus is to foray into offline markets, international geographies, and new categories, but possibly in the next year,” he said. The young entrepreneur said the company has set an internal touchstone for itself before it goes public.

”… We have an internal benchmark, when we hit a ₹1,000 crore revenue, that’s when we want to go for an IPO. Technically, we’re eligible to go for an IPO today because we’re profitable and comfortably over ₹500 crore. But we have an internal milestone of ₹1,000 crore, and that is when we will consider ourselves eligible for that (IPO),” Gupta said. He further said the bootstrapped brand expects to close the financial year 2023-24 at a touchdown of ₹650-700 crore.

”In FY25, we’re looking at a ₹1,000 crore target, a very reasonable target because of our foray into new categories, because of our growing presence in our TWS (True Wireless Stereo), which is the biggest category for us. And thirdly, getting offline as a channel and thereby international channels,” he said. The homegrown company, which has peers like boAt and Noise, expanded its reach to offline retail stores around October last year.

Also read: BOULT forays into smart home audio with the launch of new BassBox SoundBars

The idea is to be accessible and available at 20,000 points of sale within the country for the customers to get access, availability, and credibility, Gupta said, because when a customer sees the product in an offline store he gets a lot of credibility. ”We’re proud of the fact that we have penetrated every state in India, we are live at over 4,000 points of sale.” Marking its debut globally, Boult tapped into the US and UK markets in May 2023, and in January 2024, it set foot in Nepal. It received great responses from all the geographies, the young entrepreneur said.

”Right from the beginning, our vision was to make in India, for the world. We wanted to make a global brand out of India, to change the worldwide narrative of India by creating a top technology brand, and to make the nation proud. The plan forward is to foray into Europe, Australia, and thereafter Africa as well,” he said. The company plans to launch in Europe by July 2024, in Australia post-Diwali, and Africa within the first half of 2025.

Emphasising the brand’s focus on Make in India, Gupta said ”99% of the products that we sell in India are manufactured and assembled in India.” He said Boult is unlike other Indian players, who pick up products from OEMs (original equipment manufacturers), label them, and sell them in India. ”That’s not what we believe in. That’s not in our DNA … We are the only firm that does 100 per cent in-house product designing. I am an artist myself, and so I work with the design team. I work on the colour, material, finish, overall presentation of the product, and ergonomics, everything is done in-house. That’s why when you look at our products, you’ll see a huge amount of differentiation and uniqueness,” he said. Boult currently has a manufacturing facility in Delhi and is setting up another in Gurgaon.

The company has roped in actor Saif Ali Khan and cricketer Suryakumar Yadav as brand ambassadors, however, it doesn’t believe in spending a fortune on marketing. ”We don’t have heavy pockets or deep investment money to splurge money into marketing because we’re a bootstrapped firm. For us, the product is the hero. The product is something that creates an impact. ”We’ve maintained a certain price point and immensely greater product quality than our competition. That is our core, and the reason why we have over 2 million ratings, and the highest repeat purchases in the category,” Gupta said.

Talking about Boult’s biggest competitors, Gupta said they are more of a mass brand. ”We have positioned ourselves as a mass tech or a mass premium brand. Our price points are on average about 10 per cent higher. We don’t want to get into a race for market share and thereby keep on dropping prices and cutting corners in terms of the product and customer experience.

The founder acknowledged boAt as Boult’s biggest competitor. In the smartwatch segment, he named Noise, Firebolt, and boAt. ”International competitors are not really a phenomenon. In 2024, along with my competition, I’m proud of the fact that we’ve together taken about 80 per cent of the market,” he said.

Also read: BOULT Z40 Ultra Review: Good sound quality, better price

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tesla CEO Elon Musk kicks off surprise trip to Beijing, sources say

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

A private jet linked to Tesla CEO Elon Musk landed in Beijing on Sunday, a flight tracking app showed, as two people with knowledge of the matter said the billionaire was kicking off a surprise visit to the automaker’s second-biggest market. Musk is seeking to meet senior Chinese officials in Beijing to discuss the rollout of Full-Self Driving (FSD) software in China and to obtain approval to transfer data collected in the country abroad to train algorithms for its autonomous driving technologies, one of the people said.

Tesla has since 2021 stored all data collected by its Chinese fleet in Shanghai as required by Chinese regulators and has not transferred any back to the United States.

The US electric vehicle maker rolled out FSD, the most autonomous version of its Autopilot software, four years ago but has yet to make it available in China despite customers urging it to do so.

Musk said this month Tesla may make FSD available to customers in China ”very soon”, in response to a query on social media platform X.

Rival Chinese automakers such as Xpeng have been seeking to gain an advantage over Tesla by rolling out similar software.

Musk’s visit to China was not flagged publicly and the people spoke on condition of anonymity because they were not authorised to speak with media. Tesla did not respond immediately to a request for comment.

The trip came just over a week after he scrapped a planned visit to India to meet with Prime Minister Narendra Modi, citing ”very heavy Tesla obligations”.

The company said this month it would lay off 10% of its global workforce as it grapples with falling sales and an intensifying price war for EVs led by Chinese brands.

Also read: Elon Musk is not the only one pouring more money on electric cars

LANDED IN BEIJING

A Gulfstream private jet with tail number N272BG, which is registered to Falcon Landing, a company connected to SpaceX and Tesla, landed at Beijing Capital Airport on Sunday at 0603 GMT, according to Chinese flight tracking app Flight Manager.

The other jet registered under Falcon Landing is N628TS, which is Musk’s main jet that he used to travel to China on his last trip nearly a year ago when he met with Chinese government officials in Beijing and visited Tesla’s Shanghai factory.

Tesla has sold more than 1.7 million cars in China since it entered the market a decade ago and the Shanghai factory is its largest globally.

Musk’s visit coincides with the Beijing autoshow, which opened last week and ends on May 4. Tesla does not have a booth at China’s largest autoshow and last attended in 2021.

Also read: Tesla cuts global prices, full self-driving software now $8,000 amid EV price war

GM CEO Mary Barra made an unannounced visit to the show in the world’s biggest auto market on Friday, according to two people with knowledge of her schedule. GM did not immediately respond to a request for comment.

Also on Friday, Grace Tao, Tesla’s vice president in charge of external relations in China, published a commentary on the social media account of state media outlet People’s Daily, arguing that autonomous driving technologies would be the new growth engine for the EV industry.

Tao said in the article that Tesla was leading autonomous driving research and development with its ”end-to-end neural network” technology and data collected from millions of cars on the road.

China’s complicated traffic conditions with more pedestrians and cyclists than in many other markets provide more scenarios that are key for training autonomous driving algorithms at a faster pace, according to industry experts.

Musk said last week Tesla would introduce new, cheaper models using its current EV platforms and production lines and would offer a new ”robotaxi” with self-driving technology. He said in a post on X this month that he would unveil the robotaxi on August 8.

Tesla shares are down almost a third since the start of the year as concerns have grown about the EV maker’s growth trajectory. Last week, Tesla reported its first decline in quarterly revenue since 2020 when the COVID-19 pandemic slowed production and deliveries.

Also read: US launches probe into Tesla’s 2 million vehicle recall over autopilot concerns

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Health-tech firm ZS unveils data science’s role in personalised treatments and streamlined trials

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In today’s healthcare arena, data science is the guiding light, paving the way for personalised treatments and streamlined clinical trials. In a conversation with CNBC-TV18, Manish Menon, office managing principal for health-tech firm ZS, unveils the profound impact of data analytics, offering insights into its transformative role in patient care.

“Data science helps enable the early identification of individuals at high risk for specific conditions such as cancer or heart disease by sifting through data sources like Electronic Medical Records (EMR), Electronic Health Records (EHR), Electronic Patient Records (EPR), transactional and biometric data, genetic information, etc. and analysing it for diagnoses, biomarker discovery and disease subtyping,” Menon said.

Elaborating on the process, Menon outlined key steps, including defining the right data strategy, data management, hypothesis creation, and constant learning from additional datasets. These steps, he highlighted, are essential for harnessing the full potential of data science in healthcare.

Discussing the unravelling of genetic variability and the identification of molecular biomarkers in disease progression, Menon highlighted the integration of genes and the environment.

“We have sophisticated AI/ML models centred on disease ontologies and patient journeys to predict critical events such as metastasis in oncology patients, forecast treatment line progression, and anticipate specific debilitating milestones within disease journeys,” he added.

On the subject of streamlining clinical trials through data analytics, Menon mentioned the significant challenges faced in patient enrollment and operational inefficiencies. He discussed how AI and analytics hold promise in optimising trial processes, citing examples such as GenAI’s accelerated delivery efficiency in identifying potential treatments.

Menon also detailed ZS’s contributions to supporting clinical research and optimising trials through acquisitions like Trials.ai and Intelligencia.ai.

Furthermore, Menon shed light on ZS’s AI-powered solutions that effectively understand patient needs and enhance engagement. He mentioned GenAI and Max.AI as groundbreaking innovations, alongside ZAIDYN, an intelligent platform streamlining sales performance management.

Looking towards the future, Menon anticipated breakthroughs in AI, ML, and analytics. He emphasised GenAI’s potential to enhance patient engagement and treatment adherence, along with advancements in natural language processing (NLP) and multimodality. Additionally, he highlighted the role of AI in cybersecurity, underscoring its ability to predict and respond to cyber threats swiftly.

Also Read: Why aligning traditional practice and new medical knowledge is important for newborn health

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Watch: A new mind blowing Chinese robot claims to be superfast and precise

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Stardust, a China-based company, on April 26, unveiled its AI robot named Astribot S1. With an aim to provide billions of people with AI robotic assistants, the company claims Astribot S1 has the best operating performance of its kind.

In a video demonstration, the company showcased the remarkable capabilities of the AI robot. Presented at regular speed without any alterations, the footage displayed the Astribot S1 effortlessly tackling various intricate tasks including folding clothes, organising items, flipping pots for cooking, vacuuming, and engaging in competitive cup stacking.

The S1 robot features a cutting-edge motor transmission system, meticulously developed through multiple iterations. This system seamlessly integrates control, sensing, transmission, and driving components into a complex system, allowing the S1 with agile, flexible, and smooth dynamic operations. These capabilities rival the speed and precision typically associated with industrial robots.

Also Read: Eye on AI: Meta doubles down on AI, Softbank to invest $1 billion and more — this week’s roundup

Unlike traditional humanoid robots, Astribot employs a unique design merging a wheeled base with a humanoid upper body. This innovative approach enables the S1 to safely navigate interactions with humans, objects, and its surroundings, mitigating any potential harm to individuals, items, or itself while in motion.

Furthermore, the robot facilitates various data collection techniques, including video, motion capture, and remote operation. Through software updates, it can continually enhance its intelligence and capacity to generalise across diverse tasks, ensuring ongoing improvement in performance.

Also Read: TCS Chief says AI will kill the call centre industry within a year

Moreover, the modularity of the head, hands, and torso enables flexible assembly or disassembly to accommodate diverse requirements, thereby enhancing task adaptability.

The robot derives its name Astribot from the Latin proverb “Ad astra per aspera,” signifying “Through hardships to the stars.” The robot is expected to be commercialised within 2024.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Supreme Court verdict on EVMs — why upholding the voter’s trust is important

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The decision of the Supreme Court on Friday rejecting a plea to count 100% of the slips generated by the Voter Verifiable Paper Audit Trail (VVPAT) and return to the previous system of voting through paper ballots should put an end to the current controversy on voting through Electronic Voting Machines. 

The verdict by a bench of Justice Sanjiv Khanna and Justice Dipankar Datta rejecting the prayer, brings to a close a discussion. It centred around the efficacy of the EVM system and on integrity of the process that surfaces intermittently around elections to the Lok Sabha and to those of State Assemblies.

Political parties, which have suffered electoral reverses have at different times raised doubts over the EVMs and knocked the doors of the courts seeking intervention. Over the years, several additional safeguards have been incorporated into the process of voting through EVMs in order to address concerns including a sample count of VVPAT slips, a mechanism arrived at with scientific inputs. 

This time too, new checks have been introduced for candidates who have questions over the result. The direction to preserve the data on the machines for 45 days and a provision to cross-check would strengthen the system and address concerns. 

In addition, to address the issue of demands to cross-verify the slips generated by the VVPAT with votes recorded on the machine, a suggestion of generating party-specific barcodes was articulated. For a country known for its strength in the world of Information Technology, additional security features to keep pace with the changing technology and pitfalls associated with it can be done to ensure the process is not vitiated.

Conduct of voting through paper ballots was the mainstay of Indian elections since the first general polls in 1951-1952 amid concerns towards the later part of 1970s. Considering the logistics,  complaints of booth-snatchings, stuffing of the ballots deploying muscle power, were required to be addressed.

To provide an instance on the use of EVMs and its efficacy both in terms of time and resources, former Chief Election Commissioner, Dr. S.Y. Quraishi in his book —An Undocumented Wonder: The Making of the Great Indian Election — noted; “ Aside from being voter-friendly and an excellent time saver during the counting process, EVMs are also environmentally friendly. By using EVMs in all the polling stations in the country in the 2009 general elections, 11,000 metric tonnes worth of paper was saved!”.

It is known that saving paper and reference to the environment is an apparent reference to the number of trees that would have been brought down besides, the resource involved in transporting the huge ballot boxes, safe-keeping as mandated under law even after the results and attending logistics would rise.

Take for instance, if voting was to be held with paper ballots in the current round of elections with nearly 97 crore of citizens with the right to vote, would require the ECI to print as many ballots. The size would vary depending upon the number of contestants, time consumed in exercising the vote and in counting these. In addition, the ballots which remain unused too, have to be preserved and eventually disposed of according to procedure of the process.

Besides taking care of the malaise of booth-capture and ballot stuffing, EVMs have  speeded up both the voting and counting process. It also addressed the issue of invalid votes which at times led to delay in counting as poll agents of parties would dispute in deciphering the voter preference.

Now, different political parties should work together with the poll body in the march towards maintaining and consolidating voter’s trust in the process. The process of introducing EVMs is over four decades old. It happened only after political parties agreed to the provision of having machines to conduct elections.

Timeline of EVMs 

• • 1977:  Chief Election Commissioner  S. L. Shakdhar talked about introducing an Electronic machine.
  • 1980-81: EVMs developed and demonstrated by ECIL and BEL.
  • 1982-83: EVMs used for the first time in 50 polling stations of Parur Assembly Constituency  in Kerala.   And then in 11 Assembly Constituencies: 8 states, 1UT.
  • 1984:  SC suspends EVM usage: cannot be used till RP Act is amended.
  • 1988: RP Act amended: enabling use of EVMs w.e.f. 15.03.1989.
  • 2018:  SC dismissed petition asking for return to Ballot papers!

(Source: Election Commission of India)

The experiment to conduct the most important part of elections, of the voter exercising franchise, actually began in 1982-83. But it took another five years to have the legislative backing for the move. First thought of during 1977, it took two years for the initial prototype to be developed and demonstrated to parties.

Paravur Assembly Constituency in Kerala was where the machine was utilised first in 1982, but its use in the election was struck down by the Supreme Court, since there was no provision in the Representation of the People Act, 1951 for EVM. After amendment to the law in 1989 and the end of another round of legal challenge, a consensus to use the EVMs was arrived at in 1998. 

Then began the journey of EVMs and its gradual use in elections first to polls electing State Assemblies and finally across the country in the 2004 general elections. 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

TikTok, ByteDance US general counsel Erich Andersen to exit role

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Erich Andersen, the US-based general counsel for TikTok and its Chinese parent company ByteDance Ltd., is stepping down from that role, the social media app said.

Andersen, who was a key executive responsible for convincing the US government that the company was doing enough to stave off national security concerns about its connections to China, will leave the role in June. He’ll remain as “special counsel to the company,” according to a TikTok statement on Friday.

The move comes days after President Joe Biden signed into law a bill that threatens TikTok’s existence in the US, requiring ByteDance to either divest its stake in the app or see it banned. The companies are expected to wage a legal battle to try to overturn or delay enforcement of the legislation.

The company had been preparing to remove Andersen from his role as general counsel following the advancement in US Congress of the legislation to force a TikTok divestment or ban, people familiar with the matter told Bloomberg on April 20. In his new role, Andersen will focus on the effort to overturn the legislation in the US and “other pressing legal matters,” the company said.

“It was a difficult decision to step down after so many years in this role,” Andersen said in Friday’s statement. “I’m grateful to my talented global legal team, which has successfully faced every new challenge with incredible grit and maturity.”\

Andersen oversaw negotiations with the Committee on Foreign Investment in the United States, which was reviewing national security concerns regarding TikTok, its parent company and the potential for influence from the Chinese government. Those efforts dragged on for years, and TikTok ultimately failed to demonstrate that the $2 billion-plus it is spending on a security plan to protect US users’ data was enough to reach a deal.

Meanwhile, lawmakers grew impatient and acted on their worries about the potential for China, via ByetDance, to get its hands on sensitive user data or influence Americans’ social media feeds. TikTok’s parent spent $2.7 million on lobbying in the first quarter of this year on the heels of a record $8.7 million in 2023. But ultimately, the historic divest-or-ban bill was signed into law.

In an internal memo to employees reviewed by Bloomberg, Andersen said he initiated conversations about transitioning out of his role. “It was entirely my decision to do so, and it was not an easy one,” Andersen wrote. “But as I started to reflect some months ago on the stresses of the last few years and the new generation of challenges that lie ahead, I decided that the time was right to pass the baton to a new leader.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Titan Capital readies ₹300 crore ‘Winners Fund’, its first with external investors

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Titan Capital, started by Snapdeal founders Kunal Bahl and Rohit Bansal, is setting up a new Winners Fund to back existing portfolio companies, people aware of the developments told Moneycontrol.

This will be a new fund where Titan Capital will be raising money from external stakeholders for the first time ever. So far, Titan Capital has only invested Bahl and Bansal’s personal money through its existing Seed fund.

Investors typically create a winners fund to back the same or similar assets in subsequent rounds. In Titan’s case, the winners fund will only back existing portfolio companies from the Seed fund and will not source new deals. This will help the fund participate in larger funding rounds at the Series A, B and C level.

“The winners fund will have a total corpus of ₹200 crore with a greenshoe option of ₹100 crore,” one of the persons quoted above said. Sizeable capital for Titan’s Winners Fund will come from Bahl and Bansal, with the balance coming in from external investors like high networth individuals (HNIs), family offices and others.

“The fund has already been oversubscribed since there has been a lot of interest from external stakeholders given Titan Capital’s track record. Titan Capital has delivered an Internal Rate of Return (IRR) of 65% in the last 13 years,” a second source told Moneycontrol.

It plans to close the fundraise by the end of the current calendar year, the source added.

Titan Capital did not offer comments for the story.

Nature of the fund

Through the Winners Fund, Titan Capital aims to participate in follow-on Series A, B and C rounds. “The corpus from Titan Capital’s Winners Fund will be only for its own Seed fund. Titan wants to participate in subsequent rounds of its portfolio companies and the Winners Fund will give it that leeway since it will have a larger capital pool,” a person aware of the developments told Moneycontrol.

To be sure, Bahl and Bansal will continue to run Snapdeal and the Winners Fund will be operated by a new team. The investor has appointed Chetan Rana as the Chief Financial Officer (CFO) of the Winners Fund and Shiv Kapoor as the Vice President (VP). While Rana was previously with WestBridge Capital, Kapoor used to be with Urban Company.

On average, Titan’s Seed Fund invests anywhere between ₹5 and 10 crore and the average ticket size will be much higher in the Winners Fund.

Ola, Mamaearth, Razorpay, Bira91, Beardo are some of Titan Capital’s notable investments from the Seed Fund. It has made over 100-fold returns from its bets on Mamaearth, Ola and Urban Company.

For instance, Titan Capital had invested a total of ₹2.4 crore in Mamaearth (Honasa Consumer) and earned ₹160 crore from the bet. It still continues to hold some shares in the consumer brand.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US may ban drone-maker DJI next

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US FCC brings back net neutrality

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The United States Federal Communications Commission on Thursday voted to restore “net neutrality” rules that prevent broadband internet providers such as Comcast and Verizon from favouring some sites and apps over others.

The move effectively reinstates a net neutrality order the commission first issued in 2015 during the Obama administration. In 2017, under then-President Donald Trump, the FCC repealed those rules.

The measure passed Thursday on a 3-2 vote split along party lines, with Democratic commissioners in favour and Republicans opposed.

Net neutrality effectively requires providers of internet service to treat all traffic equally, eliminating any incentive they might face to favour business partners or to hobble competitors. The public interest group Public Knowledge describes net neutrality as “the principle that the company that connects you to the internet does not get to control what you do on the internet.”

The rules, for instance, ban practices that throttle or block certain sites or apps, or that reserve higher speeds for the services or customers willing to pay more for them.

“In our post-pandemic world, we know that broadband is a necessity, not a luxury,” FCC Chairwoman Jessica Rosenworcel said in a statement ahead of the vote.

While it’s been almost seven years since the FCC killed the previous net neutrality rules, their reinstatement isn’t expected to noticeably change users’ online experience. Public Knowledge legal director John Bergmayer credits that to several states having passed their own net neutrality measures prior to 2015, all of which remained in force when the FCC reversed course two years later following Trump’s election.

“Some of the absolute worst excesses from (internet providers) were kept in check by state-level oversight,” Bergmayer said.

States like California went even further than the FCC did — for instance, by banning a practice called “zero rating.” That’s where, for instance, a mobile provider might strike a business deal to steer users toward a particular streaming service by zeroing out any related data charges. Other states with strong net neutrality rules include Colorado, Maine, Oregon, Vermont and Washington, according to Bergmayer.

The telecommunications industry opposed the reintroduction of the federal rules, as it has before, declaring them an example of unnecessary government interference in business decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Intel shares tumbled 7% in trade-here’s why

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Chipmaker Intel witnessed a significant setback in premarket trading on Friday, with its shares plunging over 7% amidst a bleak sales forecast for the second quarter. The root cause of this downturn lies in a notable shift in enterprise spending patterns away from Intel’s traditional data centre and PC chips, towards artificial intelligence (AI).

Intel’s stock has been on a downward trajectory throughout the year, marking a 30% decline thus far. Lagging behind competitors such as Nvidia in advanced AI chip production, the company finds itself grappling with a landscape increasingly dominated by innovative AI components.

According to data from the London Stock Exchange Group (LSEG), Intel’s second-quarter revenue forecast of $12.5 billion to $13.5 billion falls short of analysts’ expectations, who had pegged the figure at $13.57 billion.

“While we believe they are doing everything they can to try to repair things, it is clear that the company is profoundly broken, and it will take years to see the fruits of their (currently exhaustive) labour,” Reuters quoted Bernstein analysts.

In a bid to regain momentum, Intel has announced a monumental $100 billion investment spree across four states in the US, aimed at bolstering and expanding its manufacturing capabilities. Additionally, the company unveiled a new AI chip earlier this year.

The shift in spending patterns among businesses, favouring swift and advanced AI server chips over Intel’s traditional central processing units (CPUs), has dealt a blow to the company’s bottom line. Historically, Intel’s CPUs have been the cornerstone of data centre operations for decades.

Despite the prevailing challenges, Intel remains optimistic about a potential resurgence in PC sales in the latter half of the year. A forthcoming upgrade cycle surrounding the release of a new iteration of Microsoft’s Windows operating system is anticipated to fuel demand for PCs, consequently boosting sales of Intel chips.

However, Intel’s struggles stand in stark contrast to the robust performance reported by tech giants Microsoft and Google, both of which are clients of AI chip leader Nvidia. Notably, these companies have also ventured into designing in-house chips for their data centres, further intensifying competition in the semiconductor market.

(With inputs from Reuters)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow