The start-up ecosystem is thriving and 2021 has seen the rise of 44 unicorns. India is seemingly rife with the copycat problem of adopting business models that are successful and highly valued in the West. Amongst the many reasons for a lack of innovation three explanations stand out – the nascency of the start-up ecosystem in India, the ‘Jugaad’ mentality and the increasing pressure from VC’s.
If tech is neither good nor bad and how we ‘use’ it determines the value it holds – then what is the role and influence of big-tech companies? The answer, sadly, is Capitalism and the race to monopolize profits. Complacency with unchecked big-tech adoption is costly and throws up many social and economic challenges. Namely, increased unemployment due to automation, the use of personal data for commercial or political ends and the spread of misinformation and extreme viewpoints on social media.
The creation of jobs and generating incomes is generally linked to economic success but it’s not always a sustainably option. The Kodagu community is a minority in the Western Ghats of India that have a rich heritage and are a culturally distinct. Historically, owing to colonialism and the following land reform acts, many Kodagu people’s socio-economic standing started waning. A nation-building approach that takes into account – sovereignty, capable governance, cultural match, strategic orientation and strong leadership – is far more likely to produce prosperity for a nation and its people and lead to economic development.
In an increasingly digital world, product discovery methods have also moved online – thought digital ads or emails, social media endorsements, online samples and trials etc. We have started relying on search results, reviews and algorithmic suggestions. This removes the fun and personal touch of physical shopping. There have been a wave of solutions solving for the ‘trust’ and increasing the ‘fun’ aspects of e-commerce, through the integration of social media platforms to form what is called ‘Social Commerce’.
The world of racing has been losing audience from the younger generations that expect the sport to evolve with the times we live in, especially with respect to climate change. The kind of impact Formula One has on the environment in terms of CO2 emissions is a result of a multitude of factors from the cars themselves to the logistics of transporting equipment and hospitality sets among others. There has been a push and an equally matched commitment towards racing sustainably, through the introduction of the new electric racing series Formula E and the Extreme E series.
The pandemic has shed light on a growing number of hardships faced by low-paid workers and highlighted the loopholes in labour codes that has allowed companies to underpay and overwork their employees. In the last two years the importance of having a sound ESG practice has gained public popularity and promises better valuations to investors. It is possible that the uptrend in ESG will push companies to revise their labour policies and foster better conditions for workers.
Social media was created to provide a platform for users to have social interactions and form ‘meaningful’ connections online with people we couldn’t meet. As we moved from computers to laptops to our smartphones, our physical and digital relationships became intertwined as social media became a pervasive part of our lives, following us in our […]
Non-performing assets or NPAs have been an ongoing problem in the Indian banking sector for the past few years. So much so, that finance minister Nirmala Sitharaman submitted a blueprint for setting up the National Asset Reconstruction Company Limited (NARCL) during budget 2021 with the aim of cleaning up bad loans in the public banking sector. NARCL […]
Sustainable, inclusive growth and productive employment are about more than just employment Deborah Greenfield, Deputy Director-General for Policy at International Labour Organisation (ILO) Last week, I came across a story of a Zomato delivery worker who refused to get medical treatment after an unfortunate collision. When people nearby tried to call ambulance services, the worker […]
The Two sides of Tech There is a debate raging in my mind – should I buy the iPhone13? On the one hand, my old phone works perfectly well and constantly discarding ‘well working’ things for the ‘shiny, new’ one seems wasteful – for me and the planet. On the other, I don’t want to […]