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Carlos Ghosn – From Automobile Industry Celebrity To International Fugitive

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Carlos Ghosn is a celebrity in the automobile industry because of his company turnaround stories which almost seem like fairy tales.  Carlos Ghosn is currently in the news for fleeing Japan, where he is facing four criminal charges. While he is currently a wanted fugitive, the story of how he made Nissan and Renault forces to be reckoned with is worthwhile.

The Renault and Nissan alliance

When Renault was suffering from chronic underperforming sales and Nissan was nearly bankrupt, Carlos Ghosn proposed an alliance between the two automaker giants, where Renault purchased a 36.8 % stake in Nissan.  Carlos Ghosn was later appointed Chief Operating Officer (COO) of both Nissan and Renault. He laid out a three year revival plan for Nissan, which was in a consolidated debt of $ 20 billion. The Nissan revival plan, announced in 1999, promised a return to profitability in the year 2000 and a profit margin over 4.5% in the year 2002 along with a reduction in 50 % of the debt by 2002.

Carlos Ghosn also promised to resign from his position if his goals were not met.  Once the plan was announced, Ghosn announced major changes at Nissan, which included downsizing, letting go of 21,000 employees, which accounted for 14 % of the total workforce, shutting down multiple manufacturing plants in Japan and auctioning the aerospace unit.  Other industry experts laughed at the plan and Carlos Ghosn’s decision earned him the nickname ‘Le Cost Killer.’

Japan has a hierarchy of age and seniority based promotion.  At the time, Nissan had a lifetime employment policy, leading to a complacency which came with the job.  Carlos Ghosn changed the employment policy from being a guarantee to a goal which needed to be achieved. Carlos Ghosn also proposed the abolishment of the Keiretsu system which was undermining Nissan’s performance.  Keiretsu is an old Japanese concept of cooperation and alliances.  Companies form interlocking interests and take up shareholdings. It is an unofficial and an informal form of business alliance which had long held dominance over the Japanese economy.  Ghosn’s proposal to abolish this system did not sit well with the Japanese public, caused outrage and earned him the name ‘Keiretsu Killer.’

Upon achieving his targets, Ghosn became an overnight hero in Japan, where outsiders, often referred to as ‘Gaijin,’ find it hard to gain recognition.  He was even depicted as a superhero in a Japanese comic book.

After bringing Nissan from the brink of bankruptcy to the second best automobile maker in Japan behind Toyota, Ghosn announced his plan to unveil the Nissan Leaf in 2010.  The Nissan Leaf was dubbed as the world’s first affordable zero emission car.

The Renault-Nissan alliance is the leader of the electric vehicle segment in the world, beating Elon Musk’s Tesla.  As of 2017, the alliance sold double the number of cars as Tesla.

Arrest and downfall

By 2018, many in Japan and outside were of the opinion Ghosn’s income from both Renault and Nissan was too high.  A whistleblower, who was a close aide of Carlos Ghosn, said they had information Carlos Ghosn was instructing his close aide and board member Greg Kelly to create two salary accounts for Ghosn.  One account held money which would be paid every fiscal year to Ghosn and the other account would hold a pot which was designated to be paid out to Carlos Ghosn after his exit from Nissan. Nissan went to the authorities with this information and it was found Carlos Ghosn was under reporting his income filings.  Following this, Carlos Ghosn was arrested at the Tokyo Airport.

Following the arrest, Ghosn was sent to a detention center and had no contact with anyone except his Japanese lawyer, the Lebanese embassy and the French embassy.  He alleged he was mistreated as he is a foreigner.

Carlos Ghosn recently made headlines when he fled from Japan and went to Lebanon via Turkey.  Lebanon currently has no extradition treaty with Japan in place, meaning Japan currently has no way to prosecute him.  Carlos Ghosn made a statement that he would disclose everything to the media in the coming months. 

Read about the rise of Carlos Ghosn here: Carlos Ghosn – The Rise Of A Titan Of Automobile Industry

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PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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Meta’s Upcoming AR Glasses: A Sneak Peek

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Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.

Specifications and Features

The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.

Design and Competition

Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.

Future Plans

In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.

MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.

As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.

This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service

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