The electric vehicle sector in India is experiencing rapid growth, which, according to Union Minister Nitin Gadkari, could lead to a market size of 20 lakh crore rupees by 2030, creating up to fifty million jobs. However, there is a problem: currently, India produces only 50,000–60,000 electric buses annually against an annual demand of one million.
Furthermore, new capital has become available for startups tackling major Indian challenges. The Nudge Foundation launched the TILT impact investment platform with a capital of 250 crore rupees. This platform will provide seed funding up to Series A for startups in areas such as climate change resilience, SME productivity enhancement, financial inclusion, livelihoods, and artificial intelligence. TILT will issue checks ranging from 2 to 16 crore rupees, providing early-stage ventures access to patient capital.
Meanwhile, OYO's parent company, Prism, demonstrated impressive financial results for the 2026 fiscal year. Revenue increased by almost 50% to reach 9,358 crore rupees, and EBITDA more than doubled to 2,594 crore rupees, while net profit grew more than fourfold to 994 crore rupees. This profit figure includes a tax credit of 678 crore rupees.
In the US, Meta agreed to pay up to $18 billion over ten years to settle claims that Facebook and Instagram were designed to cause addiction in children. A key takeaway is that this settlement largely leaves Meta's advertising targeting mechanisms and personalized feeds untouched, meaning its primary revenue stream remains unchanged.
Today's newsletter discusses various topics, including trivial facts of the day. Regarding AI, Bill Gates urges governments to preempt machine-driven changes by introducing taxes on AI and robots, strengthening support for displaced workers, and reserving certain jobs for humans. His message is not to wait for mass displacement before deciding how AI should transform work.