COAI LETTER BIG TECH
US senators call out big tech's new approach to poaching talent, products from smaller AI startups
President Joe Biden's administration and lawmakers from both parties have promoted stricter oversight of the tech industry recently. US antitrust authorities plan to investigate the roles of Microsoft, Nvidia, and OpenAI in the AI boom, with the Department of Justice probing Nvidia and the Federal Trade Commission scrutinising Microsoft and OpenAI partnerships.
Microsoft, Apple drop OpenAI board plans as scrutiny grows
Microsoft and Apple have decided against taking board roles at OpenAI, citing regulatory scrutiny. Microsoft's $13 billion investment and integration of OpenAI's tech in products like Windows face antitrust probes. Despite withdrawing, concerns about stifling competition persist. US and European regulators are scrutinizing Big Tech's dominance in AI. Analysts foresee AWS and Google becoming preferred partners amid growing demand and regulatory pressure. This move underscores challenges as tech giants balance innovation and regulatory compliance in the AI landscape.
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
Flipkart-Swiggy deal talks; Corning’s India plan
Flipkart considered buying a stake in Swiggy months ago amid the rise of quick commerce. This and more in today’s ETtech Morning Dispatch.
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Ilya Sutskever’s new startup is the latest of many AI ventures coming out of Big Tech
Ilya Sutskever left OpenAI last month and is launching his own startup soon. This is the latest in a larger trend of professionals leaving tech titans to establish their own startups, pursue their own goals and avoid commercialisation of products.
EU cybersecurity label should not discriminate against Big Tech, European groups say
26 industry groups in Europe warn against discrimination in the proposed cybersecurity certification scheme for cloud services, emphasizing the importance of inclusivity and non-discrimination.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA
Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.
Google, Amazon, Apple lobby group opposes India's EU-like antitrust proposal
India is drafting a new competition law to target big digital firms, with a U.S. lobby group urging a rethink to avoid potential business impacts.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
In race to build AI, tech plans a big plumbing upgrade
Companies from Amazon to Meta are revamping their data centers to support AI. They are investing in huge new facilities, while even places like Saudi Arabia are racing to build supercomputers to handle AI. Nearly everyone with a foot in tech or giant piles of money, it seems, is jumping into a spending frenzy that some believe could last for years.
Telcos need to invest in AI, large apps need to share revenue: COAI
The telecom industry emphasized that as artificial intelligence (AI) usage grows, network investments will soar. However, large traffic generators enjoying free infrastructure use make operations unfeasible. Telcos demand revenue sharing from such entities, citing global examples. Tech bodies oppose, citing net neutrality violations and cost increases. The industry seeks government intervention for a sustainable future.
Need time to study impact of proposed digital competition law, say tech policy advocacy groups
21 organisations urge a 5-month extension from the government for insights on the Digital Competition Bill draft, emphasizing the alignment of various regulations and the essential 'whole of government' approach.
Fat packages for tech interns; Google's search for data centre land
At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
Big tech cos delisting small apps over fees but won't pay fair share for network use: COAI
Telecom operators in India have criticized large traffic generators (LTGs) for refusing to pay their fair share for using telecom networks, arguing it would hurt startups and small businesses. The Cellular Operators Association of India (COAI) director-general, SP Kochhar, criticized the proposal, stating that it would deter small players from operating on the network.
Big Tech rebuffs US consumer watchdog plans to supervise digital wallets
The proposal, which has yet to be finalised, would subject such companies to the same kind of supervision currently imposed on banks, with agency examiners inspecting compliance with laws on unfair or deceptive practices and privacy protections, as well as scrutinising executives' conduct.
COAI asks Govt to push LTGs to share 5G infra costs with telcos
The COAI white paper added that with digital convergence happening rapidly across sectors, especially with 5G, 5G+ and aspirations for a 6G future, even more bandwidth-heavy applications and services would emerge and drive up investments in network infrastructure, which telcos can’t bear alone. “Thus, there is an unavoidable need for a fair-share mechanism that ensures equitable contributions from the entities benefitting from the burgeoning app economy,” the association said.
Big Tech muscles in: the 12 months that changed Silicon Valley forever
What set off Silicon Valley was ChatGPT, launched by an upstart called OpenAI. It had captured the imagination of millions of people who had thought AI was science fiction until they started playing with the thing.
Big Tech in charge as ChatGPT turns one
OpenAI CEO Sam Altman, a well-known figure in technology circles, but still little known beyond that, with the release of ChatGPT made sure that this unheralded AI tech would get the attention it deserves.
Fintechs wary of RBI’s new cross-border payments rules; telcos take on Big Tech over biz messaging
The Reserve Bank of India’s (RBI) new rules on cross-border payments will bring fintech players operating in this space under the regulator’s direct supervision. More details on this in today’s ETtech Morning Dispatch.
Whatsappening? Telcos call out tech companies over business SMSes
The Cellular Operators’ Association of India (COAI) has written a letter to telecom secretary Neeraj Mittal saying “renowned international corporates such as Amazon and Microsoft are presumably circumventing and bypassing the legal telecom route by disseminating messages to Indian customers via WhatsApp, Telegram”.
EU urges Big Tech to tackle terrorist content after Hamas attack
On Tuesday, EU industry chief Thierry Breton told Elon Musk to curb disinformation on his messaging platform X, warning it was being used to disseminate illegal content and false information in the wake of recent violence in the Middle East.
European telcos urge EU to make big tech pay
European telecoms firms, including Orange and Vodafone, are calling on the EU to make tech and streaming giants pay for the large amounts of bandwidth they consume. Telecoms companies argue that they need more money to maintain and update infrastructure to meet Europe's data needs, and believe it would be fairer for companies like Netflix to contribute.
Lina Khan vs Jeff Bezos: This is Big Tech’s real cage match
His forcefully nurtured creation, Amazon, sold as many items as possible as cheaply as possible and delivered them as quickly as possible. The result is that $40 out of every $100 spent online in the United States goes to Amazon and Bezos is worth $150 billion. Lina Khan made her reputation with a very different idea: What if pleasing the customer was not enough?
Lina Khan vs Jeff Bezos: This is Big Tech's real cage match
Bezos, 59, is no longer in charge of Amazon on a day-to-day basis. He surrendered the CEO reins to Andy Jassy two years ago. But make no mistake: Bezos is Amazon's executive chair and owns more of the company than anyone else. It is his innovations, carried out over more than 20 years, that Khan is challenging. The FTC complaint quotes him repeatedly.
Crisis deepens at Dunzo as it further delays staff salaries; Indian investors double down on Big Tech stocks
Dunzo told employees that it understands the delay in salaries is ‘very difficult’ and that the firm appreciates the patience.
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