TikTok’s parent company wants to re-enter the Indian market

Here are today’s top new trends from the tech world. News we think all tech enthusiasts should keep an eye on.

1)

ICT Tac‘s the parent company wants to re-enter the Indian market

ByteDance, the Chinese parent company of popular short-video app TikTok, is reportedly planning to re-enter the Indian market. According to media reports, ByteDance is currently in talks with several Indian companies to set up a joint venture. However, there is no information on what type of joint venture ByteDance wants to set up in India. ByteDance has reportedly said it has no plans to relaunch the TikTok app in India. The Indian government banned the TikTok app almost two years ago due to security concerns. Incidentally, TikTok’s parent company also reportedly sold its stake in Indian short video app Josh.

2)

Elon Musk says he won’t cut jobs at Tesla

There will be no job cuts at Tesla. This was confirmed by Elon Musk himself, who said last week that he planned to cut 10% of jobs at his electric vehicle business, citing that the US economy is in bad shape. But the tech billionaire has now reversed that decision. Musk has now said that Tesla’s workforce will increase over the next 12 months, but wages will remain roughly flat. Meanwhile, the US president slammed Musk for making negative comments about the US economy.

3)

Meta’s COO may have quit over a scam

Sheryl Sandberg, one of Meta’s most powerful executives, may have quit last week over a scandal. According to US media, Meta had launched an internal investigation against Sandberg for allegedly using company funds for his personal use. Reports also claim that in recent months Meta CEO and Founder Mark Zuckerberg was not at all happy with Sandberg over his recent controversial activities. For anyone unaware, Sandberg resigned from Meta last week after 14 years of association with the social media giant.

4)

Narayana Murthy criticizes Indian startups’ obsession with IPOs

Infosys co-founder and IT legend Narayana Murthy has given a strong opinion on what he describes as Indian startups’ unhealthy obsession with IPOs. Speaking at a business conference, Murthy said Indian startups should stop viewing IPOs as just another round of funding and just a way to give venture capitalists profitable exits. He added that startups should realize that making a company a publicly traded company comes with huge responsibilities, with the most important responsibility being to deliver profitable returns to all shareholders, including small retail investors.

5)

China successfully sends three astronauts to its space station

China has taken another important step in its race to become a space superpower. This after the communist giant successfully launched and docked three astronauts to its station in space orbit. These three Chinese astronauts will spend almost six months in the space station. The launch of this space mission was broadcast live across China. Over the years, the Asian giant has added many feathers to its space program, in particular by sending a rover to Mars.