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'Problem is not talent': Startup founder explains why India lags in tech despite having world's best engineering minds

'Problem is not talent': Startup founder explains why India lags in tech despite having world's best engineering minds

Time of India3 days ago
Akshat Shrivastava
, founder of financial education platform Wisdom Hatch, has criticised India's slow adoption of technology-driven services. In a social media post, Shrivastava said, 'Tech supremacy leads to Economic supremacy. This is a basic fact. Right from Mesopotamia, Romans, Persians. And, in modern history: Spanish, UK, and now the US & China. Every empire has exhibited this trait.'
He acknowledged India's strength in engineering talent but said that technological implementation remained weak. 'One could argue that: India has best engineering talent in the world. But, we are far away from Tech supremacy. We still look at BTC, Cryptos, blockchain with derision. Forget that: we still prefer taxi mafias over apps,' he wrote.
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Goa keeps Ola, Uber out
Shrivastava's remarks come shortly after the Goa government formally barred large national ride-hailing platforms from operating in the state. In June, Chief Minister Pramod Sawant had clarified that the newly issued Goa Transport Aggregators Guidelines 2025 do not support entry of companies like Ola and Uber.
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— Akshat_World (@Akshat_World)
'Taxi operators need not be in any sort of confusion. The guidelines do not aim to open flood gates for national cab aggregators like Ola and Uber,' Sawant said.
Tourists face problems, allege monopoly
Tourists and some locals have criticised Goa's taxi setup, calling it a monopoly that blocks even local app-based services. Currently, only Goa Miles and Goa Taxi are permitted, but visitors claim they often face difficulties using them due to interference from taxi unions.
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In April, a tourist described the situation as a 'transport mafia'. 'Here, no private taxi apps like Ola and Uber are available; you have to rely on the unions who operate on their whim,' he wrote, adding that he was charged ₹1,600 for a 10 km journey.
Cultural issues and misaligned incentives
Shrivastava said that the problem is not lack of talent, but a deeper cultural and policy challenge. 'Forget even that: with the rise of alt science, astrology, gambling. The scientific temper has never been this low in our country. Problem is not talent. The problem is: misaligned incentives. Politicians do regressive things to win. But economy rewards progressive things & futuristic planning, which eventually leads to tech supremacy,' he said.
Crypto policy still evolving
India continues to take a cautious stance on new technologies like cryptocurrency. While not legal tender, digital assets can be held and traded under strict rules, including a 30% tax on gains. The Reserve Bank of India maintains that crypto poses risks to financial stability, and a formal crypto policy or bill is expected later in 2025.
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Tesla shares drop 8%, banks on robotaxis to offset weak sales
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Time of India

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  • Time of India

Tesla shares drop 8%, banks on robotaxis to offset weak sales

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Explore courses from Top Institutes in Please select course: Select a Course Category Technology MBA Leadership Design Thinking Data Analytics CXO others Product Management Operations Management Cybersecurity MCA Digital Marketing Others Public Policy Healthcare Artificial Intelligence Degree Finance healthcare Data Science Management Project Management Data Science PGDM Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo He expects operations to reach "half the population of the U.S. by the end of the year" and to roll out at scale by the end of next year. So far, though, the company is operating only a small fleet in Austin, Texas, that is not available to the general public. And getting regulatory approvals, particularly in California, is likely to prove a bigger hurdle than Musk described on the call. Live Events "Tesla cannot afford a misstep with the robotaxi service," said Camelthorn Investments adviser Shawn Campbell, who owns Tesla shares. He added that "the wheels are coming off" its automotive business, with sales declines across "almost every market." Sales fell 13% for the first half of this year, as its core EV business deteriorated due to an aging lineup and brand damage from Musk's political activism. With no affordable vehicles on the horizon until the last three months of the year and the upcoming elimination of a $7,500 U.S. tax break for EV buyers, Musk acknowledged that the company could have "a few rough quarters." "The numbers kind of speak for themselves," said Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor. "They're bad for a growth company, which isn't growing." 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Federal heat on UnitedHealth sends shares tumbling — what you need to know
Federal heat on UnitedHealth sends shares tumbling — what you need to know

Time of India

time2 hours ago

  • Time of India

Federal heat on UnitedHealth sends shares tumbling — what you need to know

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Alphabet shares jump 3% as AI-driven spending fuels cloud revenue surge
Alphabet shares jump 3% as AI-driven spending fuels cloud revenue surge

Time of India

time2 hours ago

  • Time of India

Alphabet shares jump 3% as AI-driven spending fuels cloud revenue surge

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