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Ola And Uber Drivers To Go On Strike.

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Ola And Uber Drivers Go On Strike,Startup Stories,2017 Business News Update,Ola And Uber Business Updates,Ola And Uber Latest News,Ola and Uber Cab Drivers Strike,Ola and Uber Drivers Call Strike All Over India,Cab strike in India,Cab Drivers Strike

Ola and Uber continue to face aggression not just from riders, but from drivers as well. Drivers from these cab aggregators have called for an indefinite strike in Mumbai to voice their grievances against declining earnings, deteriorating business experience and increasing concerns over driver suicides.

Ola and Uber cab drivers and car owners have distributed pamphlets notifying riders everywhere about the strike. The strike is going to begin on 10 December 2017 and is going to go on for an indefinite period of time.

With the cab aggregators refusing to look at the bigger picture, drivers and cab owners are running at a major risk. The cabs may also be seized by banks because of debt issues and other financial issues.

According to reports, a lot of cab drivers took their lives due to financial problems. Drivers have been facing a lot of trouble such as the inability to pay and financial debt reaching exponential numbers. Both Ola and Uber have been working hard to contain the rising unrest but to no avail.

Drivers for both the cab aggregators have been complaining for a while now, stating that their income has fallen drastically. They have also said the owners are not bothered in the least bit about the driver’s safety or mental health.

Our demands should be fulfilled because our earnings have dropped. Their commitment of Rs 75,000 per month in earnings proved to be fake. We are earning Rs 10,000 to Rs. 15,000. I cannot even pay my EMIs. They should immediately stop getting cars,” a driver was quoted during a protest earlier this year in Hyderabad.

Ola and Uber drivers have called a strike all over India and not just in Mumbai. This gives rise to a very serious question – is the cost of sustainability at the risk of employees or do the employers just not care enough?

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Flipkart Black Friday Sale: Discounts on iPhone 15, Galaxy S24, Moto G85, and More!

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Flipkart Black Friday sale - StartupStories

Flipkart has officially announced the dates for its much-awaited Black Friday Sale, scheduled to run from November 24 to November 29, 2024. This shopping extravaganza promises massive discounts on popular smartphones and electronics, making it an excellent opportunity for tech enthusiasts to grab their favorite gadgets at reduced prices.

Massive Discounts on Smartphones

Here’s a look at some of the top deals revealed so far:

  • iPhone 15: Priced at an effective ₹57,749, down from its launch price of ₹79,900—a significant reduction and a great deal for Apple fans.
  • iPhone 15 Plus: Available at ₹65,999, offering a steep price drop without the need for additional bank offers.
  • iPhone 15 Pro Max: Listed at ₹1,23,999, down from its original price of ₹1,59,999.
  • Samsung Galaxy S24+: Available for ₹64,999, providing excellent value for those eyeing a flagship Android device.
  • Google Pixel 9: Discounted to ₹71,999, from its initial price of ₹79,999.
  • Samsung Galaxy S23: Promised to be on sale for ₹38,999, offering exceptional value in the premium segment.
  • Moto G85: Receiving a ₹1,000 discount, bringing its price to ₹16,999.
  • Moto Edge 50 Pro: Priced at ₹29,999, delivering significant savings.
  • Vivo V30 Pro: Slashed to ₹33,999, down from its launch price of ₹41,999.
  • CMF Phone 1: A budget-friendly option available for just ₹13,999.

Additional Smartphone Deals

Several other devices will also feature attractive discounts during the Flipkart Black Friday Sale, including:

  • Moto Edge 50 Fusion
  • Vivo T3 Ultra
  • Nothing Phone 2a Plus
  • Samsung Galaxy Z Flip 6
  • Realme P1
  • Vivo T3
  • Realme 12X
  • Moto Edge 50 Neo

Other Electronics on Sale

In addition to smartphones, Flipkart is expected to unveil deals on a range of electronic devices. Discounts are anticipated across various categories including:

  • Laptops from brands like Acer, Asus, HP, and Lenovo
  • Wearables such as smartwatches and fitness trackers
  • Accessories including earbuds and power banks

The full list of offers will be revealed soon, so keep an eye on Flipkart for updates.

Market Context

The Black Friday Sale is shaping up to be one of the most exciting events for tech enthusiasts this year. With festive sales contributing to an increase in consumer spending and interest in electronics, this sale provides an excellent opportunity for shoppers looking to upgrade their devices or purchase gifts ahead of the holiday season.

Anticipated Impact

The sale is expected to attract a large number of shoppers both online and offline. With discounts reaching up to 80% off on select items and additional bank offers available during the sale period, consumers can expect significant savings.

Conclusion

The Flipkart Black Friday Sale promises irresistible deals across various categories. Whether you’re looking for a new smartphone or other electronic gadgets, this sale offers a fantastic opportunity to make purchases at reduced prices. Don’t miss out on these limited-time offers from November 24 to November 29!

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Amazon Deepens Commitment to AI with $4 Billion Investment in Anthropic!

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Amazon anthropic - StartupStories

Amazon has intensified its focus on generative artificial intelligence (GenAI), committing an additional $4 billion to Anthropic, the San Francisco-based AI startup known for its chatbot, Claude. This new funding doubles Amazon’s previous investment in the company and is structured as convertible notes, with $1.3 billion set to be disbursed initially. The remainder will follow in phases, underscoring Amazon’s strategic approach to nurturing AI innovation.

Strategic Collaboration and Market Positioning

Despite its increased investment, Amazon remains a minority shareholder in Anthropic. The startup, co-founded by former OpenAI executives Dario and Daniela Amodei, is reportedly seeking additional funding from other investors, signaling heightened interest in its AI capabilities.

Amazon’s partnership with Anthropic positions it to compete with tech heavyweights like Microsoft and Google in the rapidly evolving GenAI space. Both companies have been introducing AI-driven tools for their cloud platforms, a domain where Amazon Web Services (AWS) plays a pivotal role. Anthropic utilizes AWS as a key distributor for its advanced AI models, further solidifying the alliance.

Competitive Landscape

The competition in the GenAI market has intensified since the launch of OpenAI’s ChatGPT in late 2022. Microsoft-backed OpenAI recently secured $6.6 billion in funding, pushing its valuation to an estimated $157 billion. Similarly, Anthropic has attracted significant attention, with Alphabet committing $500 million last year and pledging up to $1.5 billion more over time.

Leveraging Proprietary Technology

Anthropic plans to train and deploy its foundational AI models using Amazon’s Trainium and Inferentia chips. These proprietary processors are part of Amazon’s efforts to reduce reliance on external chipmakers like Nvidia, which currently dominates the market for high-performance AI processors.

Collaboration with Annapurna Labs

Amazon’s subsidiary, Annapurna Labs, is collaborating with Anthropic to develop cutting-edge chip technology, advancing both companies’ ambitions in the AI domain. This partnership aims to enhance computational efficiency and performance for training complex AI models.

Riding the Generative AI Wave

The surge in generative AI has sparked fierce competition among tech giants. Anthropic’s Claude has become core infrastructure for many organizations seeking reliable AI solutions at scale. Companies like Pfizer and Intuit are already leveraging Claude through AWS to improve operational efficiency and customer interactions.

Future Innovations

Amazon is reportedly developing its own foundational AI model, code-named “Olympus.” Although details remain under wraps, this initiative reflects Amazon’s broader commitment to cementing its leadership in the AI space.

Conclusion

The latest funding underscores the escalating investments by tech giants in GenAI as companies race to harness the transformative potential of AI technologies for both enterprise and consumer markets. With this substantial investment in Anthropic, Amazon not only strengthens its position within the competitive landscape but also enhances its technological capabilities through strategic partnerships aimed at fostering innovation in artificial intelligence. As both companies move forward, their collaboration is expected to yield significant advancements that could reshape various sectors reliant on AI technology.

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Vegapay and YES BANK Collaborate to Launch ‘Credit Line on UPI’

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Vegapay and YES BANK Collaborate to Launch ‘Credit Line on UPI'

Banking software innovator Vegapay has partnered with YES BANK, one of India’s leading private-sector banks, to introduce a groundbreaking ‘Credit Line on UPI’ platform. This initiative aims to revolutionize access to credit in India by leveraging the extensive reach of the Unified Payments Interface (UPI).

Expanding Credit Access with UPI

Despite UPI’s rapid adoption—boasting over 350 million active users and processing 14 billion transactions monthly—formal credit access remains limited. Currently, only 15–20% of Indians have access to credit cards. The ‘Credit Line on UPI’ seeks to address this gap by offering seamless, flexible credit solutions to both new and existing customers.

Features of the Credit Line

Through the platform, YES BANK can customize credit offerings, including:

  • Interest-free or interest-bearing options
  • Flexible EMIs
  • Tailored rules using an intuitive and user-friendly interface

This flexibility is designed to cater to a diverse customer base, allowing users to choose credit solutions that best fit their financial situations.

Industry Potential

With UPI transactions projected to grow by 57% annually through FY 2024 and UPI-linked credit products expected to exceed $50 billion by 2025, this collaboration is set to play a pivotal role in reshaping India’s credit landscape.

Market Growth Insights

Recent data indicates that UPI transactions reached a total value of ₹20.64 trillion in July 2024, reflecting a 45% year-on-year growth. The increasing volume of UPI transactions highlights the potential for integrating credit services directly into this widely used payment method.

Rajan Pental, Executive Director at YES BANK, emphasized the significance of the initiative:

“UPI reshaped India’s digital payments, yet extending formal credit remains a challenge. YES BANK processes one in every three digital transactions in India. With ‘Credit Line on UPI,’ we aim to lead the charge in building a credit-driven future for millions.”

Technology-Driven Financial Inclusion

The platform offers a customizable app and an intuitive dashboard, enabling banks to integrate it seamlessly into their existing systems. This efficiency minimizes the data required from customers, streamlining the credit process for both users and institutions.

Gaurav Mittal, CEO of Vegapay, highlighted the platform’s adaptability and scalability:

“We empower financial institutions to launch a Credit Line on UPI within weeks, enabling swift adaptation to market demands and supporting thousands of transactions per second.”

Enhancing User Experience

The integration of credit lines with UPI aims to simplify access to funds, allowing users to make purchases directly using their available credit without the need for separate applications or lengthy approval processes.

Industry Endorsements

Nalin Bansal, Chief of Fintechs at NPCI, praised the initiative:

“This partnership sets a new industry standard and exemplifies the transformative potential of UPI for driving financial inclusion. Vegapay and YES BANK’s efforts enhance the credit experience for both existing and new customers.”

Broader Implications

The collaboration is expected not only to improve access to credit but also to foster greater financial literacy among users as they engage with these new financial products.

Bridging the Credit Divide

By leveraging UPI’s massive reach and advanced technology, Vegapay and YES BANK aim to bridge India’s credit divide, fostering financial inclusion and empowering millions to access formal credit conveniently and efficiently. This initiative aligns with India’s broader goals of enhancing digital payment solutions while ensuring that financial services are accessible to all segments of society.

Conclusion

The introduction of ‘Credit Line on UPI’ marks a significant step towards integrating credit services within one of India’s most popular payment platforms. As Vegapay and YES BANK work together to implement this innovative solution, they are poised to transform how consumers access credit in India, thereby contributing to a more inclusive financial ecosystem.

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