Uber in talks with its founder, Travis Kalanick, to fund self-driving car deal
Uber is reportedly in discussions with its co-founder Travis Kalanick to potentially fund his acquisition of Pony.ai's U.S. subsidiary, a Chinese autonomous vehicle company. This move signals Uber's increasing concern over competition from self-driving taxi services like Waymo and Tesla. Kalanick would lead Pony if the deal materializes, marking a significant shift in Uber's strategy towards autonomous vehicles.
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Time of India
40 minutes ago
- Time of India
Bizongo under criminal lens; Meesho files IPO papers
Bizongo under criminal lens; Meesho files IPO papers Also in the letter: TradeCred files criminal complaint against Bizongo, alleges Rs 69 crore fund misappropriation Go deeper: This, the TradeCred claims, constitutes a double recovery — where Bizongo benefitted from both upfront invoice financing and the final payment from customers. Context: Responding to allegations: The big picture: Meesho files confidential prospectus for its IPO Driving the news: Tell me more: Zoom in: Foxconn recalls Chinese staff from India, disrupting Apple's iPhone 17 plans Driving the news: Apple's bind: India's dilemma: Also Read: Tech layoffs: Microsoft, TikTok lead latest round of job cuts Axing again: Google, Meta, and Amazon announced hundreds of redundancies in the first half of the year as part of broader cost-cutting efforts. Efficiency game: Silicon Valley fumes as Indian techie Soham Parekh works multiple founders The long con: The alert: Avalanche: Soham-gate: Invoice discounting platform TradeCred has filed a criminal complaint against Bizongo for alleged misappropriation of funds. This and more in today's ETtech Top 5.■ Apple teeters under China pressure■ Microsoft, TikTok layoffs■ Indian techie's 'side hustle'TradeCred has filed a criminal complaint against Bizongo , accusing the startup of misappropriating at least Rs 69 crore. The complaint, submitted to the Mumbai Police's Economic Offences Wing, names Bizongo's founders, CEO, and major investors, including Accel, B Capital, Chiratae, and receiving funds from invoice buyers via a controlled escrow mechanism, Bizongo allegedly collected the actual payments from customers directly into its own bank accounts rather than routing them through designated escrow accounts as contractually required, as per TradeCred's has already come under fire for weak financial controls, which triggered senior exits and a pivot away from supply chain financing. The latest dispute highlights growing concerns about governance in India's booming private credit and invoice discounting said that it has been repaying its dues to TradeCred and has reduced the outstanding principal from Rs 250 crore to Rs 66 crore now. The company said it has already presented a settlement plan to case shines a light on how fast-paced growth and opaque business models in startup-led finance can leave retail investors dangerously exposed. TradeCred's move could trigger oversight of platforms offering invoice-based investment unicorn Meesho has confidentially filed its draft red herring prospectus with Sebi for a Rs 4,250 crore ($500 million) by SoftBank and Prosus, Meesho recently moved its domicile from the US to India. The company reported revenue of Rs 7,615 crore for FY24, a 33% year-on-year increase, while slashing its adjusted loss by 97% to Rs 53 joins a growing queue of Indian tech firms gearing up to go public, including Groww, Pine Labs, and Urban Company. In FY25, the company processed 1.8 billion orders, demonstrating strong user adoption despite facing valuation all goes to plan, Meesho could become the first horizontal ecommerce platform to list on Indian exchanges. The IPO will be closely watched as a barometer for public investor interest in the scaled consumer businesses, ahead of Flipkart's much-anticipated listing next Donald Trump's threat to slap tariffs on Apple products manufactured outside the US has jolted the tech giant's global supply chain. China, sensing an opportunity, is moving fast to stymie Apple's India Apple's largest supplier, has quietly withdrawn hundreds of Chinese engineers and technicians from its Indian plants. Over 300 Chinese workers have exited Foxconn's iPhone assembly facilities in India in the past two months, according to Bloomberg. But Beijing isn't stopping is also curbing technology transfers and tightening controls on equipment exports to India and Southeast Asia, Apple's key hubs outside China. The goal is clear: protect China's long-term leverage if fresh trade walls go up in the relies on both a skilled workforce and high-end tech from China. So far, the impact has been limited, but it could worsen. New Delhi is betting on Apple to become a pillar of its manufacturing company is gearing up to make the iPhone 17. India already accounts for 20% of global iPhone output and was hoping to scale further. With Trump targeting Southeast Asia with higher tariffs, India appeared best placed to pick up the Vietnam, another key Apple outpost, has moved faster, striking a deal with Washington that allows duty-free American imports and caps tariffs on Vietnamese goods at 20%, far below Trump's proposed 46%. India, meanwhile, is still waiting for its interim trade agreement ahead of the July 9 second half of the year has begun much like the first, with more layoffs in the tech sector . Microsoft and TikTok are the latest to trim headcount as Big Tech continues to tighten is letting go of another 4% of its workforce, or around 9000 employees, just a month after cutting 6,000 roles . Bloomberg reports that King, its Barcelona-based gaming unit behind Candy Crush, is shedding 200 at TikTok, job cuts are expected at its ecommerce vertical, TikTok Shop. The company said it is undergoing 'organisational and personnel changes', aimed at boosting says it wants to flatten its organisational structure, reduce management layers, and sharpen its 'agility.' It's also funnelling big money into artificial intelligence (AI), which means shifting people and capital, and dropping also stated that the move follows "careful analysis of how to create more efficient operating models for the team's long-term growth."Soham ParekhWhile most engineers juggle one demanding job, Indian techie Soham Parekh managed to work with several startups at once—many backed by Y Combinator—without telling a soul.A graduate of the University of Mumbai and Georgia Institute of Technology in the US, Parekh had the credentials and the charm. He aced interviews, delivered work on time, and raised no flags. But his loyalty was split across Doshi, founder of Playground AI, Mixpanel and Mighty, blew the whistle on X. 'There's a guy named Soham Parekh (in India) who works at 3-4 startups at the same time. He's been preying on YC companies and more. Beware.'Doshi's post lit a fire. Founders piled in, saying they'd interviewed or even briefly hired Parekh. One employer messaged Doshi saying he'd just fired him after reading the caught in the storm, reached out to Doshi for advice. His message: 'Have I completely sabotaged my career?'
Time of India
an hour ago
- Time of India
Chinese AI startup that 'shocked' biggest American tech companies is hiring big time
DeepSeek , the Chinese artificial intelligence (AI) startup based in Hangzhou, appears to be expanding its talent search beyond its borders, significantly increasing its recruitment efforts on LinkedIn. A report says that over the past week, the company posted 10 new positions on the Microsoft-owned professional networking platform, marking its first listings there in several months. The job postings, written in Mandarin with detailed descriptions, include three roles specifically focused on Artificial General Intelligence (AGI). These positions are based in DeepSeek's Beijing and Hangzhou offices. According to a report by Bloomberg, similar roles were posted on popular Chinese recruitment sites earlier in 2025, the increased activity on LinkedIn is notable. LinkedIn ceased operating a localised version of its platform in China in 2021, meaning many candidates viewing these listings would likely be based outside of the country. Tech companies like Google, OpenAI and Meta increase 'AI hiring' DeepSeek's move to attract global talent mirrors the aggressive recruitment strategies of its US rivals, such as Google , OpenAI (developer of ChatGPT) and Meta Platforms. These companies are actively competing to secure top AI experts in the race to dominate the potentially world-changing field of artificial intelligence. Recently, Meta CEO Mark Zuckerberg introduced the team that will lead the company's 'Superintelligence' lab. The team consists of former employees of companies like OpenAI, Google and Anthropic, and will be lead by ScaleAI founder Alexandr Wang and former GitHub CEO Nat Friedman. Last year, Microsoft hired Mustafa Suleyman, co-founder of DeepMind – now part of Google – and Inflection, as CEO of Microsoft AI team. Elon Musk has, on several occasions, posted job opportunities for AI engineers to work in his AI comapby, xAI. OnePlus Nord 5 and OnePlus Nord CE 5: Unboxing and first look AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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First Post
an hour ago
- First Post
India's rise as a manufacturing powerhouse making China nervous as geoeconomic advantage shifts
As India's industrial profile has risen, so too have signs of discomfort in Beijing. From delays in shipping machinery to the sudden withdrawal of skilled Chinese workers, China is deliberately trying read more China appears to be getting nervous about India's rising stature as a manufacturing hub. File image As India increasingly attracts global supply chains and manufacturing investment, tensions with China are mounting, with signs that Beijing may be responding with quiet but targeted disruptions to India's industrial ambitions. From electronics to toys, India's growing manufacturing base is drawing international interest, including from companies seeking to reduce their reliance on China. At the same time, Indian authorities and industry insiders report signs of economic pushback from Beijing: from delays in shipping machinery to the sudden withdrawal of skilled Chinese workers. STORY CONTINUES BELOW THIS AD India gains from supply chain realignment India has emerged as a key beneficiary of global efforts to diversify production lines away from China. Several international toy manufacturers, including Italy's Dream Plast, Microplast and Incas, shifted part of their operations to India last year. The result has been a sharp increase in Indian toy exports. The Indian government's $2 billion Production-Linked Incentive (PLI) scheme has also played a major role in luring global players. Earlier this year, Taiwanese electronics giant Asus began assembly operations in Manesar in partnership with VVDN Technologies. HP joined hands with India's Dixon Technologies to produce laptops and personal computers locally. Following the United States' decision in April to impose additional tariffs on Chinese imports, even Chinese companies began seeking out Indian suppliers to fulfil American orders. At the Canton Fair in Guangzhou, Indian exporters reported being approached by Chinese firms offering commission-based deals to re-route their products through India. Machinery delays and worker pullouts As India's industrial profile has risen, so too have signs of discomfort in Beijing. Indian government officials and companies have pointed to apparent Chinese efforts to slow down the delivery of crucial equipment needed for electronics manufacturing. In January, India's Secretary of Electronics and Information Technology, S Krishnan, said the government had received feedback from manufacturers, including Apple supplier Foxconn, about delays in the shipment of capital equipment from China. According to industry sources, the machinery had been held up at Chinese ports for several months without formal explanation. While no official restrictions have been announced by China, Krishnan acknowledged the possibility that these holdups could be the result of informal directives from Chinese authorities. Further complicating matters, Foxconn repatriated several hundred Chinese engineers and technicians from its iPhone assembly units in southern India. Though Foxconn and Apple notified Indian officials, the move came without a clear explanation. The timing, officials said, suggested that it may have been more than a routine operational adjustment. Rare earths and regulatory squeeze In April, China introduced tighter export controls on rare earth magnets, materials essential for electric vehicles and electronics. The new rules require exporters to obtain government licences and provide detailed end-use certificates before shipments are approved. India, which imported 460 tons of rare earth magnets in the previous financial year, almost all from China, had planned to increase imports to 700 tons this year. The restrictions are likely to significantly impact India's auto sector, which is dependent on these components for electric mobility and other high-tech applications. STORY CONTINUES BELOW THIS AD While the export curbs were officially described as part of China's broader response to US trade measures, analysts believe India is among the countries likely to be caught in the crossfire. Silent sanctions and the race for talent Most recently, Beijing has reportedly instructed local governments and regulatory agencies to quietly discourage the outflow of advanced technology and technical talent to countries like India and Vietnam. According to Bloomberg News, the policy has not been publicly announced, but has been interpreted in Indian policy circles as a form of 'silent sanction'. These measures appear designed to restrict the mobility of both tools and talent essential for complex manufacturing– sectors in which India is beginning to position itself as a competitor. As global manufacturers diversify and India gains momentum, Beijing's unease is becoming harder to ignore. The geoeconomic advantage, long held by China, may be slowly shifting across the Himalayas.
