Reliance Industries 2024 AGM just ended!

The only thread you need to know EVERYTHING about RIL AGM 2024

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🧵👇 Updates about Jio Telecom

-Jio now world's largest mobile data company with a 490-million users, on average consuming over 30 GB of data monthly
-Jio's network carries nearly 8% of global mobile traffic.
-​​Jio users to get up to 100 GB of free cloud storage, to store and access photos, videos, documents, all other digital content, and data

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Boeing is in trouble, and a deal it struck around 25 years ago is to be blamed.

What?!! 👀👇🏽 You see, Boeing started as an "engineers" company.

But then in 1997, the aircraft manufacturer merged with McDonnell Douglas and things started to change.

The new entity started focusing more on affordability, rather than quality.

The RBI made ₹2.20 lakh crores profit in FY23!

How on earth did it achieve this? 🧵👇🏽 Well, through something called ‘seigniorage’.

Think about it this way—

If the RBI prints a ₹100 note and gives it to a bank for circulation.

Nov 2022: Valued at $450 Mn, ZestMoney was all set to be acquired by PhonePe.

Dec 2023: ZestMoney shuts down!

What changed?

🧵👇🏼 2023 hasn’t been kind to ZestMoney–

The funding dried up;
PhonePe backed away from the acquisition;
And even the 3 founders resigned in May.

The reason?

🚨Retail inflation hit an alarming 15-month high of 7.44% in July 2023!

To give you some perspective, the RBI is expected to keep inflation between 4-6%. Now this could be a challenge for us. So, what should you do to protect your finances?🤔

Here are 3 things to know 🧵👇🏽 ✅TRACK YOUR SPENDING

Bucket all your expenses into broad categories— rent, electricity, phone bills, personal care, groceries, childcare, fuel, subscriptions, transportation, house maintenance etc.

In 1995 Steve Jobs became a billionaire. But..

It wasn't because of Apple😲! Surprising, right?

Well, here's the story of what happened 🧵👇🏽

(Like❤️& RT🔄️) See, the story starts in 1986 when after being forced out of Apple, Steve Jobs acquired Pixar from filmmaker George Lucas for a mere $5 million. And further invested another $5 million in the company.

The A B Cs of Recession Recovery 🧵👇🏼

(Don't forget to Like and RT this tweet)

YES Bank saved millions! All thanks to English Grammar 🤯

Sounds bizarre, doesn't it?

But believe it or not, that's precisely what happened 🧵👇🏼 In 2020 Cantor Fitzgerald, a US-based financial services firm, sued Yes Bank in a court in London. They claimed that Yes Bank owed them a 2% commission for helping the bank in financing its FPO (Follow-on Public Offering).

"Please make a term calculator"
"When will you launch a term calculator?"

Time & again you've asked this

TODAY, @joinditto IS HERE WITH IT!🎉

Introducing TERM INSURANCE CALCULATOR 👉🏼bit.ly/432uh4Z

But, how is this calculator different from others? 🧵 Let’s take Rahul for example👨

He is 30 with a wife & a kid👨‍👩‍👦

He earns ₹15 LPA

Now, any other calculator out there would use a basic rule of thumb—

10x the annual income and suggest him a term cover of ₹1.5 CR.

But...

How TATA SALT accidentally became Desh Ka Namak 👇🏼

🧵 Back in the 1930s–

Tata Chemicals had just set up a soda ash plant in Mithapur, Gujarat– which demanded high freshwater supply.

Now, Mithapur is an arid region and freshwater is scarce. So naturally, Tata Chemicals soon started running out of water.

CHATGPT IS DRINKING WATER?! 😲👇🏼

Maybe even more than you. Sounds pretty absurd, right? But it’s true!

🧵 Well, it seems AI has an enormous water footprint. But what does AI need water for?

You see, AI models are trained and developed in warehouse-scale data centres informally called “energy hogs”.

🤗Finshots Recommends — A list of must-read books on business, finance, economics, and more!

🧵👇🏼 📕Psychology of Money

A beginner-friendly collection of stories that explores how people think about money and how to make more informed financial decisions.

Dolo 650 sold whopping 350 Crore+ tablets in India during the pandemic!

Stack that lengthwise and it would be over 50000 times taller than Burj Khalifa.

But, Dolo wasn’t always our go-to paracetamol

(Hint: Crocin/Calpol)

So, what changed?🤔 🧵 Manufactured by Chennai-based Micro Labs, Dolo 650 has been around since 1993.

Although Crocin, Calpol, and Dolo‒ all contain the same magical fever-fighting salt Paracetamol, it’s the “650” that sets Dolo apart.🫰

Indian income tax authorities are knocking on Netflix’s door. Why? 👀👇🏼 Netflix India might soon receive a notice for a ₹55 crore tax demand for its earnings in FY22.

Okay, but why is that surprising? Shouldn’t companies that earn money in India pay tax here?

Well, tax rules aren’t so simple.

A couple of months ago, everyone was worried that Microsoft and ChatGPT would kill Google. But Google’s trying to fight back!

Here's an explainer of what’s going on 👀👇🏼 In February, Google shares lost $100 billion in value in a single day. Its AI chatbot Bard had a disastrous launch.

Now if you were a betting person, you might have placed your chips on Microsoft. The tech giant had invested in ChatGPT & weaved it into its search engine Bing.

Everyone is talking about the disruption by the Open Network for Digital Commerce (ONDC) in food delivery.

So we decided to answer some of the most popularly asked questions about it 🧵👇🏼 🤔Is ONDC an app?

No. It’s just a network that anyone can piggyback on.

Think of it just like UPI. For instance, if a company wants to start UPI payments on its app, it doesn’t need to go to every bank in the country and individually tie up with them.

Production of popular shows like Stranger Things and Cobra Kai have been temporarily paused. But why? 🤔👇🏼 Because the Writers Guild of America (WGA), a union of nearly 10,000 film and TV writers, decided to resort to the age-old tradition of going on strike.

Farmers in Kerala reduced their shrimp catch by nearly 45%. And prices crashed from ₹280 to ₹100 per kilo. Farmers in Tamil Nadu and Andhra Pradesh were even selling their produce below cost price.

But why? 🤔👇🏼 You see, in 2003, shrimp farmers from 8 southern states of the United States filed an anti-dumping petition against 6 countries including India.

Their allegation was simple.

The US is facing a debt crisis. And while all looks bleak, there is a controversial solution —

The $1 Trillion Coin🤯👇🏼 You see, the US government has a limit on how much money it can borrow, called the ‘debt ceiling’. It’s a limit on borrowing money just to meet some of their existing obligations  — such as government salaries, pensions, and even the interest on current debt.

The ABCs of the startup funding ecosystem explained through infographics 🧵👇🏼

A few days ago, Revant Himatsingka aka Food Pharmer, turned to Instagram to question the sugar content of Cadbury's Bournvita. And the video got the eyeballs. 12 million hits! ☕🧵 In his now-deleted video, Revant suggested changing Bournvita’s tagline from ‘Tayyari jeet ki’ (Preparation to win) to ‘Tayyari diabetes ki’ (Preparing for diabetes).