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  • Koo Cofounder Mayank Bidawatka Launches AI Photo Sharing App ‘PicSee’

    Koo cofounder Mayank Bidawatka has launched PicSee, an AI-powered mutual photo-sharing app, available now on Google Play and Apple App Store. The app is built by his new company, Billion Hearts Software Technologies, and aims to make photo sharing easy, private, and automatic.

    A New Way to Share Photos

    PicSee introduces a “give to get” concept, users can get unseen photos of themselves from friends, but only when they share photos of their friends in return. Once both users approve each other, photo sharing becomes automatic.

    Bidawatka explained in a LinkedIn post, “We find your friends from your gallery, help you invite and approve them. After a one-time approval, you can exchange pics with them forever. You get 24 hours to review outgoing photos.”

    The app uses AI face recognition to find friends from a user’s photo gallery and send personalized invites. Once connected, it continues working in the background to detect and share new photos.

    “There are over 15 trillion photos in the world, with 2 trillion more clicked every year — yet most never get shared,” Bidawatka said. “PicSee fixes this with a patent-pending mutual sharing flow — you get your unseen pics from friends, and for them to get theirs, they share yours.”


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    Privacy and Security at the Core

    PicSee focuses strongly on privacy and data security. The app does not store any photos on the cloud; all data stays on the user’s device. Shared photos are encrypted and cannot be accessed even by PicSee employees.

    To ensure safety, screenshots are disabled, and by default, nudes and private content are excluded from AI scans. Users have 24 hours to review or recall any image before it’s shared.

    Bidawatka said, “Everything stays encrypted and on-device, so even PicSee can’t see your photos. It’s simple, private, and built for global scale.”

    Early Growth and Future Plans

    PicSee was soft launched in July 2025 and has already gained users in 27 countries and 160 cities. So far, more than 1.5 lakh photos have been exchanged through the app. The company says 30% of users now have more photos of themselves on PicSee than in their own galleries.

    The app currently has over 500 downloads on Google Play and plans to add AI photo and video editing tools soon.

    About Billion Hearts

    Billion Hearts Software Technologies was founded by Mayank Bidawatka in late 2024, after his previous startup Koo shut down following failed acquisition talks. Billion Hearts raised $4 million (around INR 33.7 crore) in seed funding from Blume Ventures, General Catalyst, and Athera Venture Partners.

    The 11-member team is building privacy-safe, globally scalable AI consumer products, with PicSee as its first offering.


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  • Apple Exec Jumps Ship to Meta Amid Intensifying AI Talent War

    According to Bloomberg News on 15 October, which cited sources with knowledge of the situation, Apple’s Ke Yang, the recently hired CEO spearheading an initiative to create an AI-driven online search similar to ChatGPT, is leaving to join Meta. According to the story, Yang was only a few weeks ago named leader of the Answers, Knowledge and Information, or AKI, team, which is at the heart of the March redesign of the Siri voice assistant. Yang’s LinkedIn page states that he has been employed with Apple since 2019.

    Meta Continues it Poaching Spree                     

    By aggressively hiring to compete with competitors like OpenAI, Google, and Anthropic, Meta has escalated the talent battle in Silicon Valley as tech companies heavily invest in AI in the race to superintelligence. Bloomberg News previously claimed that Robby Walker and Ruoming Pang were among the top AI executives that the Mark Zuckerberg-led business had previously snatched from the iPhone manufacturer.

    Apple pivots from Vision Air to next-gen smart glasses to take on Meta

    After dominating the high-end smartphone market, Apple is now attempting to compete with Meta and offer something different. Apple analyst Mark Gurman claims that the corporation is prepared to abandon all of its plans for the Apple Vision Air and instead focus on introducing smart glasses for consumers.

    With their AR/VR capabilities, these glasses will function as a more portable gadget that stands out from the competition. According to early speculations, Apple will release two versions of the device simultaneously: one with and one without a display. Let’s take a quick look at everything that is currently available regarding Apple’s impending smart glasses.

    Apple Smart Glasses to have Two Variants

    There will be two versions of the Apple Smart Glass: one with and one without a display. For seamless operation, the iPhone will be linked with the no-display one. There are rumours that the gadget will come with voice, camera, microphone, and artificial intelligence capabilities.

    With this one, it’s likely that we’ll get to experience Siri on steroids. In addition, the gadget will have health monitoring capabilities, allowing end users to have a highly personalised experience. At debut, the glasses will come in a variety of colours and styles.

    Quick
    Shots

    •Apple exec Ke Yang leaves to join
    Meta, intensifying the AI talent war in Silicon Valley.

    •Yang was recently appointed CEO of
    Apple’s AKI team, leading AI-driven search and Siri redesign.

    •Meta continues aggressive poaching of
    top AI talent from Apple, competing with OpenAI, Google, and Anthropic.

    •Apple abandons Vision Air project,
    shifting focus to next-gen smart glasses to rival Meta.

    •Smart glasses expected in two
    versions: one with a display and one without.

    •No-display variant will pair with
    iPhone and offer voice, camera, AI, and health monitoring features.

    •AR/VR capabilities aim to create a
    portable, personalized user experience.

  • Razorpay Reports 65% Surge in FY25 Revenue, Expands Global Fintech Footprint

    Bengaluru-based fintech leader Razorpay Software Ltd. has reported a 65% rise in consolidated revenue for the financial year ended March 2025, highlighting its strong growth across payments, banking, and international markets. The company’s revenue climbed to INR 3,783 crore, up from INR 2,296 crore in FY24, while gross profit increased 41% to INR 1,277 crore from INR 906 crore a year earlier.

    Strong Growth Across Business Verticals

    Razorpay said the growth was powered by solid execution across its payment gateway, banking, POS, loyalty, and international businesses. The company noted that its online payments segment is now EBITDA-profitable, supported by strong cash flows and improving margins.

    “FY25 was a pivotal year for Razorpay,” said Harshil Mathur, CEO and Co-founder. “We delivered top-line growth through focused execution while improving our gross margins. Beyond online payments, we’re seeing strong momentum in new business lines that are scaling fast and unlocking new growth opportunities.”

    One-Time Costs Affect Bottom Line

    Despite robust revenue growth, Razorpay posted a post-ESOP loss of INR 1,209 crore, driven by one-time restructuring and tax expenses linked to its redomiciling to India.

    CFO Arpit Chug explained that the company remains financially strong and disciplined. “We delivered a 65% revenue growth while ensuring efficient capital allocation between mature, cash-generating units and high-potential verticals,” he said.

    The company emphasized that these costs were non-recurring and reflected its strategic decision to complete its reverse flip to India, after which it became a public entity in April 2025.


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    Expanding International and Product-Led Growth

    Razorpay continues to expand globally, focusing on Southeast Asia, especially Malaysia and Singapore. The company is strengthening its cross-border fintech infrastructure to support businesses across emerging markets.

    The fintech major plans to accelerate product-led innovation and invest in AI-first fintech solutions to improve efficiency and customer experience. Backed by top investors such as Lightspeed, GIC, Tiger Global, and Peak XV Partners, Razorpay is set to deepen its investments in its core fintech stack and financial infrastructure.

    Building for the Future

    Founded in 2014 by IIT Roorkee alumni Harshil Mathur and Shashank Kumar, Razorpay has raised over $800 million to date. Recently, it also acquired rewards-first UPI payments app POP for $30 million to expand its consumer-focused offerings.

    With strong revenue growth, healthy unit economics, and global ambitions, Razorpay is positioning itself as a diversified fintech platform driving innovation in the digital economy. As Mathur summed up, “We’re building not just for India, but for the world.”


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  • Graph AI Secures $3 Million Seed Funding from Bessemer Venture Partners

    Graph AI, a California-based AI life sciences company focused on patient safety and pharmacovigilance, has raised $3 million in seed funding, led by Bessemer Venture Partners (BVP). The investment will enable Graph AI to accelerate product innovation, expand its engineering team, and drive global market adoption.

    Graph AI is part of a new generation of AI-native challengers reshaping the pharma and life sciences industry, with a sharp focus on the $8 billion pharmacovigilance market. Pharmacovigilance, mandated by global drug regulators, requires pharmaceutical companies to monitor, detect, and report adverse drug events (ADEs) across a drug’s entire lifecycle — from clinical trials to post-market use — ensuring patient safety and compliance.

    Traditionally, pharmaceutical firms have depended on large service providers to manually extract and process data from unstructured sources such as call centre transcripts, legal filings, medical literature, emails, and social media. These processes involve vast teams of pharmacology graduates manually reviewing thousands of documents to assess ADE causality, submit regulatory reports, and recommend follow-up actions — often leading to slow, fragmented, and error-prone workflows.

    The company’s flagship platform, Graph Safety, redefines pharmacovigilance by combining context-aware artificial intelligence and intelligent automation to deliver a complete, end-to-end safety solution. Already deployed with enterprise customers, Graph Safety automates processes such as ADE case management, signal detection, aggregate reporting, and regulatory compliance, while continuously building a centralised safety intelligence database.

    By retaining a human-in-the-loop only for select regulatory-mandated steps, Graph enables pharmaceutical companies to transition from manual, reactive workflows to AI-driven, proactive systems, significantly improving efficiency, accuracy, and compliance across safety operations.

    Founded in 2024, Graph AI is led by Raghav Parvataraju (CEO), Vijay Ponukumati (CTO), Mohan Konyala (CPO), and Ashutosh Bordekar (CFO), seasoned professionals with experience at LTI Mindtree, Infosys, ServiceNow, Google, and Cisco. Their collective expertise in technology, outsourcing, and enterprise operations has been pivotal in shaping Graph’s mission to transform pharmacovigilance through AI innovation.

    In just over a year, Graph AI has achieved strong traction and tangible results. Its proprietary AI models demonstrate high accuracy, ensuring consistent classification and complete data extraction from both structured and unstructured sources. Enterprise clients have reported up to 70% efficiency gains, 90% faster regulatory reporting, and substantial cost reductions, while maintaining full traceability and audit readiness. The company’s platform now supports a pipeline covering over 7,000 marketed drugs, underscoring growing demand for modernised pharmacovigilance solutions.

    In a joint statement, the founders said:

    “The life sciences industry continues to grapple with outdated technology, fragmented point solutions, data silos, and manual handoffs that hinder decision-making and elevate compliance risks. At Graph AI, we’re addressing these challenges with a unified, AI-native safety platform that integrates context, compliance, and intelligence into a single seamless ecosystem. Our vision is to make patient safety smarter, faster, and more connected, empowering pharmaceutical and biotech enterprises to achieve safer outcomes, stronger regulatory confidence, and exponential efficiency across safety operations.”

    Nithin Kaimal, Partner and COO at Bessemer Venture Partners India, added, “We’re excited to partner with Graph AI as they redefine labour intensive and inefficient pharmacovigilance workflows through AI-native solutions that prioritise both accuracy and scalability. At Bessemer, we’re deeply optimistic about the transformative potential of AI products to reimagine traditional services models as for the first time, delivery is shifting from labour arbitrage to intelligence arbitrage, empowering enterprises to work with firms that deliver faster, smarter, and more adaptive solutions. We look forward to supporting the Graph team as they continue to scale new heights.”

  • FireAI Raises ₹4 Crore Seed Funding Led by Inflection Point Ventures

    AI-powered business intelligence startup FireAI has raised INR 4 crore in a seed funding round led by Inflection Point Ventures (IPV). The capital will be channelled towards product development and key innovations such as Causal Chain, Text-to-SQL capabilities, and its proprietary ETL tool to enhance scalability, speed, and user experience. A portion of the funds will also support hiring skilled technology professionals and accelerating international expansion.

    FireAI simplifies business intelligence by moving away from complex dashboards and enabling organisations to interact with their data through conversational AI tools.

    The company has expanded its operations to Dubai, Abu Dhabi, Africa, and Kenya as a certified OEM vendor. Partnering with Alchemist LLP as its official channel partner in these regions has further strengthened its market presence and credibility. FireAI’s proprietary AI engine, built from the ground up, supports descriptive and diagnostic analytics, helping businesses make smarter decisions faster.

    Vinay Bansal, CEO & Co-founder, Inflection Point Ventures, said,

    “AI today is transforming all facets of life. However, it has also caused an overload of data without any means to interpret it or turn it into actionable next steps. This gap often leads to underutilization of AI or misinterpretation of data. FireAI’s business intelligence makes this data conversational & accessible. Providing clear insights for future decision making effectively saving crucial time and resources for businesses.”

    Vipul Prakash, Founder & CEO, FireAI, commented,“From India for the world, we’ve only just begun. This is just 20% of what we aim to achieve. At Fire AI, we’re building bold and meaningful innovations like Causal Chain, India’s first diagnostic analytics platform, designed not just from a technical perspective, but through the eyes of real stakeholders. Our aim is to enable businesses, truly and meaningfully. Collaboration with IPV reaffirmed our belief that business intelligence for the future depends on simplicity and accessibility. With Fire AI, we are redefining how organisations interact with data, shifting away from complex dashboards to real-time, conversational insight. Our ambition is to give each decision-maker real-time intelligence, fuelling growth and innovation.”

    FireAI’s technology has delivered 30% more accurate forecasts and real-time alerts that help teams act immediately, optimising decision-making processes. The company has grown into a team of 30 professionals, serving major clients such as the Government e-Marketplace (GeM). Its platform integrates with over 700 data sources, demonstrating scalability and technical depth as it expands from India to global markets.

    Led by Vipul Prakash, a B.Tech graduate from SRM University, FireAI benefits from his decade-long experience in product development and operations at leading firms including Zomato, Delhivery, and BharatPe. Under his leadership, FireAI continues to push its mission of making business intelligence conversational, real-time, and accessible.

    The global data analytics market is projected to grow from $74 billion in 2024 to $482 billion by 2033, representing an average annual growth rate of over 20%. In India, the sector is expected to increase from $2.6 billion to $27 billion in the same period, growing at an average rate of 27.5%. FireAI’s innovations are well-positioned to capitalise on this trend by making advanced data analytics accessible to all, not just analysts.

  • Google’s Andhra Investment a ‘Historic Loss’ for Karnataka, Says JD(S)

    The ruling Congress government in Karnataka has come under fire from opposition parties after Andhra Pradesh and Google inked a Memorandum of Understanding (MoU) on October 14 to build a top-notch AI data centre in Visakhapatnam. More than one lakh jobs are anticipated to be created by the $15 billion project, which is Google’s biggest investment outside of the US.

    Dr K Sudhakar, a former health minister and Chikkaballapura MP, stated on X that Andhra gains when Karnataka loses! Once the go-to place for multinational tech companies, Bengaluru and Karnataka are losing ground as a result of the Congress government’s indifference, haughtiness, and policy gridlock. Karnataka watches as jobs and opportunity shift to other places, while Andhra draws top-tier investments. Karnataka’s youth demand improved confidence, clarity, and governance.

    Political Players Calling it End of Tech Era for Bangalore

    Arvind Bellad, the deputy leader of the opposition, also blasted the current administration for all of the opportunities that were lost. “Bengaluru, which was once the Silicon Capital, is losing investors because of policy paralysis and arrogance,” he said. Instead of encouraging growth, ministers harm businesses. Karnataka’s economic narrative has been transformed into a governance catastrophe by the government.

    DK Shivakumar, the deputy chief minister, stated that he does not wish to respond to Andhra minister Nara Lokesh or anybody else. Bengaluru and Karnataka are unmatched. Bengaluru offers everything, from human resources and infrastructure to startups and innovation. There are about 25 lakh employees, including 2 lakh foreigners. The Centre receives 39–40% of its revenue from Bengaluru.

    Shivakumar added further that every day, he gets calls from leaders all over the world, and we talk about their needs. Many international businesses that previously operated out of rented offices are increasingly establishing campuses of their own. That is Bengaluru’s might. It is unmatched by any state in the nation.

    Janta Dal Calling it a ‘Big Blow’ to Karnataka

    The loss of Google’s AI project was referred to as a “major blow” to Karnataka by the Janata Dal (Secular), which cited missing investment possibilities and insufficient infrastructure. “The state loses the Google AI hub to Andhra Pradesh,” the party wrote in a tweet. Due to carelessness, Karnataka loses a project worth INR 1.3 lakh crore.

    A significant initiative that Karnataka missed out on: Google signs an MOU with Andhra Pradesh to establish #AIHub in Visakhapatnam, pledging INR 10,000 crore annually and 30,000 jobs. If a business-friendly atmosphere isn’t guaranteed, entrepreneurs might depart.

    Karnataka IT Minister Priyank Kharge expressed doubts about the sustainability of Andhra Pradesh’s incentives, which included subsidised land and water bills, free transmission, 100% GST reimbursement, and subsidies of INR 22,000 crore. “The ‘Global Investors Summit’ would not have drawn INR 10 lakh crore in investments this year if IT companies were leaving Karnataka,” said Karnataka Home Minister G Parameshwara.

    Quick
    Shots

    •Google inks $15 billion MoU with
    Andhra Pradesh to set up a world-class AI data centre in Visakhapatnam.

    •The project is expected to create
    over 1 lakh jobs, marking Google’s largest investment outside the US.

    •JD(S) and BJP leaders call it a
    “historic loss” and “major blow” for Karnataka.

    •Criticism mounts on Karnataka’s
    Congress government over policy paralysis and investor flight.

  • Ahmedabad Recommended to Host 2030 Commonwealth Games, Marking India’s Big Sporting Leap

    In a historic moment for Indian sports, Ahmedabad has been recommended as the host city for the 2030 Centenary Commonwealth Games (CWG). The decision by the Executive Board of Commonwealth Sport marks India’s return to hosting the Games after 20 years and strengthens its ambition to host the 2036 Olympic Games.

    The final approval will be made at the Commonwealth Sport General Assembly in Glasgow, Scotland, on November 26, where Ahmedabad’s proposal will be formally presented to the full membership for confirmation.

    A Major Step Toward India’s Olympic Dream

    India sees the 2030 CWG as a key step in its long-term plan to bid for the 2036 Olympics. Union Home Minister Amit Shah called the recommendation “a day of immense joy and pride,” adding that under Prime Minister Narendra Modi, India has become “a marvel of a sports destination.”

    P.T. Usha, President of the Indian Olympic Association (IOA) and Commonwealth Games Association India, said the Games will showcase India’s world-class event management and sporting capabilities. “The 2030 Games will inspire our youth, strengthen international partnerships, and play a role in India’s journey towards Viksit Bharat 2047,” she said.

    Ahmedabad’s Sporting Vision

    Ahmedabad, Gujarat’s largest city, has been building world-class infrastructure in preparation for large-scale events. The city already houses the Narendra Modi Stadium, the world’s largest cricket arena, which is expected to host the opening and closing ceremonies of the Games.

    The Sardar Vallabhbhai Patel Enclave, currently under construction, will include a football stadium, athletes’ village, aquatics centre, tennis arena, and indoor sports facilities. The Naranpura Sports Complex, built for INR 825 crore, has already hosted international events such as the Commonwealth Weightlifting Championship and the Asian Swimming Championship this year.


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    Global Recognition and Competition

    Ahmedabad was chosen over Abuja, Nigeria, after a detailed evaluation by the Commonwealth Sport Evaluation Committee. The committee assessed technical delivery, athlete experience, governance, infrastructure, and alignment with the Commonwealth’s values.

    While praising Nigeria’s strong proposal, Donald Rukare, interim president of Commonwealth Sport, said Ahmedabad’s vision aligns with the organization’s goals for the centenary edition. He added that efforts will continue to bring the Games to Africa in future years.

    Reviving the Commonwealth Spirit

    The 2030 Games will mark 100 years since the first CWG, held in Hamilton, Canada, in 1930. It also brings renewed hope for the event’s future after recent challenges, with cities like Durban (2022) and Victoria (2026) pulling out due to financial issues.

    Hosting the Games will reaffirm India’s position as a reliable and ambitious global sporting nation. As P.T. Usha summed up, “This is more than a sports event, it’s India’s statement to the world that we are ready, capable, and confident.”


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  • Galeries Lafayette to Open First Luxury Store in Mumbai with Aditya Birla Group

    France’s iconic luxury department store, Galeries Lafayette, is all set to enter India with its first store in Mumbai, in partnership with the Aditya Birla Group’s retail arm, Aditya Birla Fashion and Retail Ltd (ABFRL). The grand opening is expected in early November, marking a new milestone for India’s fast-growing luxury retail sector. A second store is already planned for Delhi, signaling the brand’s confidence in India’s appetite for high-end shopping experiences.

    A Landmark Partnership in Indian Luxury Retail

    Aditya Birla Group chairman Kumar Mangalam Birla said that the partnership represents a “coming-of-age moment for Indian luxury retail.” He noted that a new generation of Indian consumers is young, ambitious, and globally connected, and increasingly views luxury as a statement of aspiration and identity.

    ABFRL already manages several international premium brands in India such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle, and Reebok. The addition of Galeries Lafayette strengthens its play in the premium and luxury segment, as it competes with Mukesh Ambani’s Reliance Retail, which also has strong luxury partnerships.


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    Why Galeries Lafayette Chose India

    Arthur Lemoine, CEO of Galeries Lafayette, said India is a strategic and fast-growing market with a strong base of luxury consumers. “Indian shoppers already buy luxury brands across the world – in Dubai, Singapore, the UK, and especially in our Paris store. Clearly, there is a lack of luxury department stores within India,” he said.

    Galeries Lafayette’s flagship store in Boulevard Haussmann, Paris, is one of the most famous luxury destinations in the world. It attracts around 35 million visitors every year, making it the second most-visited tourist spot in Paris after the Eiffel Tower. With its entry into India, the brand hopes to replicate some of that prestige and experience for Indian customers.

    Tapping into India’s Growing Affluent Class

    India’s luxury market is expanding rapidly, driven by rising incomes and a growing number of affluent, globally exposed consumers. These customers are increasingly looking for premium shopping experiences that combine international brands, elegant design, and personalized service.

    For Galeries Lafayette, India represents not only a new market but also a long-term growth opportunity. The Mumbai store, expected to open its doors in early November, will offer Indian shoppers access to global fashion houses, designer labels, and lifestyle products under one roof, an experience similar to what the Paris flagship is known for.

    As Birla summed up, “A new India is emerging, one that embraces luxury as a reflection of aspiration and identity.”

    With this partnership, both Galeries Lafayette and Aditya Birla Group are set to redefine India’s luxury retail landscape, bringing a slice of Parisian elegance to Mumbai and soon, to Delhi.


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  • Is the Internet Dead? Alexis Ohanian on What’s Wrong With the Internet

    Do you also think that the internet has become more AI than human, too? If your answer is yes, then so is Alexis Ohanian’s, cofounder of Reddit. Almost everything on the internet is AI-generated, says Alexis Ohanian. According to AI CERTS, over half of all internet traffic is bots. (meaning about 51-52.3% automated traffic). While talking on the show TBPN, he said that the internet has changed, and it is not for good. He used the phrase “quasi-AI”, which means things that sound human but aren’t and are created by AI. Why does he think so? Will the future be worse, according to him? For all that, learn more. 

    What Does “Dead Internet Theory” Mean?

    Ohanian described something called the “Dead Internet Theory.” According to this theory, everything that you see on the internet (including social media posts, comments, blogs, etc.) is mostly written by AI. Although the ones behind it are humans, it is easily verifiable that they are all generated via AI.

    Sam Altman, the CEO of OpenAI, argued that the “Dead Internet Theory” is exaggerated. However, he now believes in the theory after seeing several AI-run Twitter accounts.

    Examples Ohanian Gave

    • According to Ohanian, much of the web feels like “LinkedIn slop” and “botted” (full of bots). He says that everything sounds similar, fake-sounding, and AI-generated.

    What Does He Think Will Happen Next?

    Ohanian affirms that a new generation of social media will soon start with “verifiably human.” So, the new age of human interaction with real people will be a thing. Furthermore, he says that “proof of life” will hold all the attention in the future.

    Where Are Real Conversations Happening Now?

    • One might wonder where to go and find real people to talk to. Apparently, real human interactions are happening in private group chats like Signal, Discord or the general friends group on WhatsApp.
    • According to him, people are more comfortable sharing genuine thoughts with their close ones than posting publicly.
    • However, even these chat groups are not completely AI-sage, and bots are creeping in there as well.

    Is bringing back the human touch online a possible future? Will AI ever let that happen? 

  • Did Mackenzie Scott Sell $58 Million Amazon Shares?

    MacKenzie Scott, the former wife of Jeff Bezos, is one of the most generous philanthropists in the world. She made a big donation of $19.25 billion to more than 2,450 nonprofit organisations via her initiative called Yield Giving. She recently (since last year) sold about 58 million Amazon shares for similar purposes. And this is the reason she holds 42% fewer shares in Amazon. What’s her current stake in the company? What is MacKenzie Scott planning to do with the money? Is it entirely going into charity? For all that, learn more. 

    Who Is Mackenzie Scott?

    MacKenzie Scott is famously known as the former wife of Jeff Bezos, founder of Amazon. She made headlines everywhere after her divorce in 2019. As a divorce settlement, she received 4% of Amazon’s shares, which at the time were a whopping $36 billion.

    What Happened to MacKenzie Scott’s Shares?

    According to a recent report by Bloomberg News, MacKenzie Scott sold her 58 million shares. And this has caused a dip in her total Amazon holdings to 81.1 million shares. It’s about 42% low.

    Mackenzie Scott Sold How Many Shares?

    According to Amazon’s stock price as of Tuesday, these shares could be worth around $12.55 billion. Bloomberg reviewed a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC). On the other hand, Reuters (one of the top major news agencies) clarified that it can’t independently confirm this as of now.

    What About Jeff Bezos?

    A similar SEC filing showed that Jeff Bezos still owns more than 964 million shares in Amazon. About 81.1 million shares are under his sole voting authority. It means that Jeff Bezos can make any decisions directly. 

    To Fund Her Massive Charitable Giving…

    Many reports say that the most likely reason is her charity work. And with this money, she will donate a portion of it via her Yield Giving.

    She also launched her own website (yieldgiving.com) to make all the donation work transparent. Her primary goal is to donate most of her wealth during her lifetime.

    She identifies organisations that are doing well in society, especially groups that focus more on equality, education, health care, racial justice, poverty relief, women’s rights, and community development. And she puts no conditions or restrictions on the money she donates. 

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