CAPITALISTS
Why did Elon Musk not attend Trump's dinner with high-profile tech CEOs? Tesla CEO has this to say
President Trump held a big White House dinner with top tech CEOs to talk about AI and U.S. investments. Leaders like Mark Zuckerberg, Tim Cook, and Bill Gates joined the event. Elon Musk was missing, saying he could not attend. The meeting showed how Silicon Valley is now working more closely with Trump’s administration.
Who will make the most money from AI? Facebook executive turned venture capitalist Chamath Palihapitiya’s fascinating prediction resurfaces
Venture capitalist Chamath Palihapitiya’s 2023 iConnections talk has resurfaced, drawing attention to who will profit most from AI. Comparing AI to refrigeration, he suggested that while many can build similar models, true wealth will come to companies that find unique ways to leverage the technology. Founder of Social Capital and former Facebook executive, Palihapitiya highlights that innovation and strategic application, rather than invention alone, will shape the next generation of industry giants.
Nikhil Kamath’s 'digital detox' question uncovers a surprising truth: Stanford-graduate venture capitalist says, ‘It is already a business’
On Nikhil Kamath’s WTF podcast, venture capitalists Deedy Das, Nikunj Kothari, and Niko Bonatsos explored whether digital detox could become a major business. Bonatsos, a Harvard, Cambridge, and Stanford graduate known for backing Snapchat and Discord, argued it already is, citing retreats, apps like Clearspace and Opal, and “dumb phones.” While panelists noted cheap data and YouTube’s dominance make detox unrealistic for many, Bonatsos said consumers are increasingly paying to escape digital overload.
ET Startup Awards 2025 | Midas Touch: Ashish Agrawal’s golden touch seems to Groww and thrive
The jury picked Ashish Agrawal, managing director at Peak XV Partners (formerly Sequoia Capital), for the honour. Agrawal’s standout bet has been on wealthtech firm Groww, which has surged multifold in six years. He edged past industry veteran TCM Sundaram, founder of Chiratae Ventures, who has backed and exited marquee names such as Lenskart, Policybazaar and Zivame.
New $1 billion alliance formed to strengthen US-India deep tech ties
Eight US and Indian VC and PE firms have formed the India Deep Tech Investment Alliance, pledging over $1 billion to early-stage Indian deep tech startups over the next decade. The alliance supports funding, mentorship, and network access, though US-India trade tensions could complicate long-term cooperation in the sector.
Beyond Borders and Degrees: How a global collective of teenagers is forging India’s next Silicon Valley
In Bengaluru, a group of teenagers is pioneering a new path for India's startup scene through a unique hacker house. This initiative provides young builders, particularly those from smaller towns, with resources and mentorship to launch companies, bypassing traditional educational routes.
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Is Gavin Newsom already attracting donors for 2028? Netflix co-founder donates $2M into redistricting campaign
Netflix co-founder Reed Hastings gave $2 million for California’s redistricting plan. The campaign, called Proposition 50, could change House seats and is backed by Governor Gavin Newsom and top Democrats. Supporters say it will protect democracy, while Republicans strongly oppose it. The fight has become a big-money political battle with national attention.
Real-money game over, battle will now shift to the old field
Following the real-money game ban in India, traditional gaming studios anticipate growth as RMG players migrate to casual gaming. This shift is expected to attract investment and talent, with developers focusing on in-app purchases and subscriptions. An industry association has formed to engage with regulators, seeking support and incentives for the gaming sector's continued development.
30-year-old billionaire CEO starts her day at 5:30 and skips lunch to save time; urges startup founders to work '90-hour weeks'
At 30, Lucy Guo became the youngest self-made woman billionaire, surpassing Taylor Swift, after her Scale AI stake surged to $1.3 billion. Yet, instead of retiring, Guo champions a grueling 90-hour workweek, rising at 5:30 a.m., skipping lunch, and working late into the night. While she frames this as essential for startup founders, critics warn it glorifies burnout. Beyond Scale AI, Guo founded venture firm Backend Capital and creator platform Passes, sparking debate on whether success requires relentless hustle or sustainable balance.
Elevation Capital raises $400 million late-stage fund to back IPO-bound startups
Elevation Capital, known for early-stage investments in companies like Paytm and Swiggy, is launching a $400 million late-stage fund, Elevation Holdings. This new vehicle will target long-term investments in 10-15 companies nearing public markets, focusing on consumer and financial services with a technology emphasis.
The co-ord nation: What keeps the matchy-matchy dream alive?
Ever since the pandemic legitimised co-ord sets, they have had a faithful fan base and an equally strong hater brigade. What keeps ’em going?
STPI, C-DOT and TiE Delhi-NCR launch Samarth Incubation Program – Cohort II
C-DOT, STPI, and TiE Delhi-NCR have launched Samarth Incubation Program – Cohort II, inviting DeepTech startups in AI, UAVs, Cybersecurity, LiFi, and Blockchain to apply by September 1, 2025. Selected startups will receive grants, access to R&D labs, mentorship, and investor connections.
Festive lift for etailers; Elevation’s late-stage push
Happy Friday! Online sales this festive season are expected to reverse three years of slowdown. This and more in today’s ETtech Morning Dispatch.
Framer hits $2 billion valuation in latest funding round
The series D round, led by current investors Meritech and Atomico, highlights venture capitalists' optimism in software startups that help companies build professional websites with minimal developer involvement.
Why AI startups cost more, not less to build: Investor insights from ET Soonicorns Summit 2025
At the ET Soonicorns Summit 2025, Harshjit Sethi and Ritesh Banglani dismantled one of the most persistent myths in today’s startup ecosystem: that AI will make company building cheaper and faster. Instead, they argued, AI-native startups are proving to be far more capital-intensive than traditional ventures, yet also offer unprecedented opportunities for disruption.
US tariff: Boycotting imported products can be a way forward, says economist Utsa Patnaik
Economist Utsa Patnaik warns that new US tariffs will hurt India's agriculture, textile, and pharmaceutical industries. She suggests India consider a boycott of foreign products, similar to the Swadeshi Movement. Patnaik highlights the crisis faced by American consumers and the potential impact on Indian farmers. She also mentions the debate between Mahatma Gandhi and Rabindranath Tagore on imported goods.
ET Startup Awards 2025: Nominees for Midas Touch
The award will recognise the most lucrative exit in the year. The decision will be made based on the volume of deals as well as the size of the exit.
Trump wants more deals like Intel's, worrying business community
US President Trump aims to increase government investments in healthy U.S. companies, starting with a stake in Intel, signaling a shift from traditional capitalist models. This approach, involving interventions in mergers and trade, raises concerns about business nimbleness and potential government control.
The Economic Times Startup Awards 2025: Nominees for Best on Campus and Comeback Kid
We are excited to bring you the 11th edition of The Economic Times Startup Awards (ETSA). In the run-up to the coveted honours, we have the nominees for the Best on Campus and Comeback Kid categories for you today.
Silicon Valley is in its 'hard tech' era
Silicon Valley has shifted from its Web 2.0 heyday of perks and consumer apps to a more intense AI-driven era. With fewer frills and tougher tech, the focus is now on neural networks, GPUs, and defence startups, as San Francisco reclaims its place as the heart of global innovation.
Trump stunning reversal on Intel weeks after demanding chip giant CEO Lip-Bu Tan's resignation. All about the deal
The United States government has acquired a 10 per cent holding in Intel and this marks one of the most striking federal interventions in a private company since the 2008 auto bailouts. US President Donald Trump announced the agreement on Friday, describing the deal as “a great partnership for America and for Intel.”
OpenAI says Namaste India; ET Startup Awards are back
OpenAI is hiring in India as it prepares to open an office in the national capital. This and more in today’s ETtech Top 5.
'Has a single Indian achieved anything?' Bengaluru founder shuts up American businessman for mocking India's 'talent'
An online spat broke out after American businessman Charles Haywood claimed India had made no major accomplishments in modern times. His remarks on X were countered by Bengaluru-based venture capitalist Dilip Kumar, who cited India’s Chandrayaan-3 Moon landing, the success of the Unified Payments Interface (UPI), and Nobel Prize wins by Indian figures. Kumar’s response drew wide support online, with many highlighting India’s global contributions in science, technology, and leadership.
Global ambition crucial for success: AI investment panel at ET Soonicorns Summit
The panel consisted of Manav Garg, from venture capital firm Together, Rutvik Doshi of Athera Venture Partners, and Manish Singhal from pi Ventures. Sanjay Swamy of Prime Venture Partners was the moderator. The current AI investment environment requires both rapid decision-making and careful deliberation, said Garg.
Navigating the AI-fuelled capital spectrum: ET Soonicorns Summit 2025 to chart the startup roadmap
From understanding AI as an investment catalyst to decoding early bets and growth levers, the ET Soonicorns Summit 2025 will host VCs, CFOs, and founders to throw light on scaling billion-dollar blueprints, driving efficiency, and navigating high-stakes IPOs.
Current govt formed through 'stolen votes', indifferent to people's issues: Rahul Gandhi
Rahul Gandhi alleged the current government was formed by stealing votes. He urged people to choose a responsible and accountable government. Gandhi claimed votes were stolen by removing names from voter lists. He criticized the government's handling of unemployment, scams, and inflation. He also mentioned incidents of violence and infrastructure failures. Gandhi asked voters to protect India and the Constitution.
Trump thinks owning piece of Intel would be good deal for US: Here's what to know
President Trump is pursuing a 10% US government stake in Intel by converting Biden-era grants into equity. The move aims to boost domestic chip production, reduce reliance on foreign suppliers, and counter China in AI development. Facing losses and setbacks, Intel may accept the deal, echoing past government bailouts.
Why does Xi Jinping keep purging loyalists? Look to Stalin and Mao for the answer
Xi Jinping's purges in China, reminiscent of Stalin and Mao, highlight the challenges of managing a vast system and maintaining elite loyalty. These actions, following governance failures, aim to consolidate power amid growing tensions within the Communist Party. The CIA is attempting to exploit potential cracks, suggesting disaffection among party elites as Xi's totalitarian model clashes with previous approaches.
Can one email a week transform your career? A startup VP reveals her 'scary' secret to professional growth
Mallory Contois advocates for cold emails. She believes these emails can significantly boost one's career. A health crisis changed her perspective on rejection. Contois shares examples of successful cold emails. Her key rule is to reduce friction for the recipient. Experts agree that cold emailing can expand networks. Contois encourages sending one bold email weekly for career growth.
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