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PE houses, VCs can no longer stretch their fund's life to avoid fire sale

The Indian capital markets regulator has made it unambiguously clear that funds have to close and liquidate within the specified period even if a predominant number of investors who have contributed to a fund pool give their consent to extend the tenure of the fund.

from Tech-Economic Times https://ift.tt/rHjFNgp

As Elon Musk cuts costs at Twitter, some bills are going unpaid

Once Musk took over the company, he refused to reimburse travel vendors for those bills, current and former Twitter employees said. Musk's staff said the services were authorized by the company's former management and not by him. His staff have since avoided the calls of the travel vendors.

from Tech-Economic Times https://ift.tt/ChV2kuE

FTX was run as 'personal fiefdom,' faces hacks, missing assets, attorneys say

In the highest-profile crypto blowup to date, FTX filed for protection in the United States after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal. The collapse has left an estimated 1 million creditors facing losses totaling billions of dollars.

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Sam Bankman-Fried's FTX, senior staff, parents bought Bahamas property worth $300 million

While it is known that FTX and its employees bought real estate in the Bahamas, where it established its headquarters in September last year, the property records show for the first time the scale of their buying spree and the intended use of some of the real estate.

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Heady hikes on tech job switches seem to be over

New jobs still fetch about 30-35% hike in salaries, but they have fallen from a high of 100% amid layoffs, slowdown in economy.

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Meta spokesperson denies report of CEO Mark Zuckerberg stepping down next year

Meta Platforms Inc spokesperson Andy Stone said in a tweet on Tuesday that a report on Chief Executive Officer Mark Zuckerberg stepping down next year was false.

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Disney's new CEO Bob Iger may have to cut costs as streaming loses money

Disney shocked investors late on Sunday evening by announcing the ouster of CEO Bob Chapek and appointing Iger, 71, to a two-year contract to return the company to growth.

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Yellow.ai deploys 30% of global generative AI bots domestically

While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to g...