HIGH SALARY IN AI
Tesla offers landmark $1 TRILLION Elon Musk pay package — how will Wall Street react to the world’s first trillionaire CEO?
Tesla has proposed a historic $1 trillion performance-based pay package for CEO Elon Musk, tying his compensation to ambitious goals that could reshape the company’s future. The plan links Musk’s rewards to hitting record vehicle production, achieving massive market growth, and pioneering breakthroughs in autonomous driving and robotics.
Zomato, Swiggy's GST woes; Amazon's $200-million Axio deal
With the overhaul of India's GST regime, food delivery companies Zomato and Swiggy stare at a new tax burden. This and more in today's ETtech Top 5.
Good Glamm founder Darpan Sanghvi launches startup acceleration platform CoFounder Circle
The artificial intelligence (AI)-led platform is designed to provide entrepreneurs access to cofounders, team members, interns, fractional operators, service providers, vendors, AI-powered software tools, mentors, incubators and investors.
Uncertainty hits IT, hiring demand falls 10% in August
Hiring at India's IT services companies has slowed since the start of the second quarter and the trend is likely to continue, according to staffing firms. In the current quarter that ends on September 30, there has so far been a 2-3% decline in demand for legacy tech jobs, but hiring has been strong for specialised roles involving artificial intelligence (AI), machine learning (ML), cloud, data and cybersecurity.
AI researchers lured with high salaries are leaving Meta, quoting Mark Zuckerberg’s own advice on their way out
Meta’s ambitious Superintelligence Labs (MSL), launched by Mark Zuckerberg to rival AI leaders, is already facing turbulence just months in. Despite offering salaries in the hundreds of millions, the lab has seen high-profile exits, including researchers Avi Verma, Ethan Knight, and Rishabh Agarwal, who cited shifting priorities and leadership issues. Many are returning to OpenAI, highlighting that top AI talent values mission and influence over money. The defections cast doubt on Meta’s ability to sustain its AI moonshot.
Google techie's success playbook: 3 skills young engineers should master in the age of AI
Harsh Varshney, a Google software engineer, shares insights for young engineers on thriving in Big Tech. While AI has become central to modern engineering, Varshney emphasizes that it’s not enough on its own. Success requires strong computer science fundamentals, deep expertise in AI both as a builder and power user, and the ability to translate knowledge into real-world projects.
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Urban Company, Boat IPOs; India's first semiconductor chip
Urban Company, Boat get IPO nods, this and more in today's ETtech Top 5
Bengaluru professionals look to future-proof their careers in age of AI and tech disruptions: Survey
Bengaluru professionals are proactively upskilling to navigate AI's impact, with 88% planning certificate courses this year. Despite job cuts, 93% see upskilling as crucial, focusing on AI/ML skills like agentic AI and Python. While 64% use GenAI tools, many seek new roles prioritizing work-life balance and job security amid evolving job landscape.
TCS finally rolls out annual salary increments; average hike at 4.5-7%
TCS has rolled out delayed salary hikes of 4.5–7% for junior to mid-level staff, effective from September 1, 2025, with top performers getting over 10%. It is understood to be the lowest hike in the last four years given the slowing business environment’s impact on the IT industry and TCS financials.
Top AI researcher Rishabh Agarwal quits Meta’s Superintelligence Lab despite million-dollar pay
Rishabh Agarwal has left Meta’s Superintelligence Lab just months after joining on a million-dollar salary. Despite strong pitches and high pay, Agarwal and others have quit, with reports suggesting Meta’s demanding expectations around work-life balance and values may be pushing talent away, despite its aggressive push in AI hiring.
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.
Meta offers $250 million retention bonus, but Musk poaches 14 AI stars with purpose — Zuckerberg left stunned
Meta vs xAI AI talent war: Elon Musk's xAI has reportedly poached at least 14 AI engineers from Meta this year, despite Meta's hefty retention bonuses. Musk emphasizes a performance-based culture at xAI, prioritizing impact and equity over matching Meta's high salaries. This recruitment highlights a clash between cultures valuing immediate financial security versus long-term mission alignment.
How AI agents are taking control of your company — sharing secrets, making costly decisions, and deleting data
AI in business: Artificial intelligence is evolving. AI agents are now making decisions and taking actions independently. Tests reveal potential risks, including manipulation and misuse of data. Experts warn that AI will pursue its goals by any means necessary. Security vulnerabilities make AI a target for hackers. Companies are already facing unintended actions by AI agents.
RBI’s AI reset; ETSA ‘Startup of the Year’ nominees
The central bank’s new AI framework will send banks back to the drawing board. This and more in today’s ETtech Top 5.
From Rs 4 LPA to Rs 6.5 LPA in four years! Techie in MNC says salary growth in Indian IT sector remains slow
Despite the Indian IT sector's reputation for high salaries, a techie's Reddit post reveals a different reality. Starting at Rs 4 lakh per annum, their salary only reached Rs 6.5 lakh after four years and a promotion.
Gen Z savvy investors but 55% living paycheck to paycheck: Can they achieve financial security with these money habits?
Gen Z thinks differently, and that reflects in their spending priorities and investment habits. Some quirks aside, they have a good shot at achieving financial security.
Meta’s billion-dollar hiring spree: DeepMind boss says money can’t buy the frontier of AI. Sam Altman reacts
Meta is pouring billions into recruiting top artificial intelligence talent, offering pay packages that in some cases reach $200 million. The strategy, personally driven by Mark Zuckerberg, has brought high-profile researchers from OpenAI, Google and Apple into its new Superintelligence Labs. While Google DeepMind’s Demis Hassabis has called the move “rational,” he insists that the real frontier of AI will be shaped by those motivated by mission, not money. OpenAI’s Sam Altman calls it “mafioso poaching.”
Chartered Accountants caution joint bank account holders about this critical issue with tax rules that can lead to tax notices
Chartered Accountants highlight a critical issue with tax rules. Rule 114E(2) causes duplicate reporting for joint account holders. This leads to unnecessary tax notices, especially for non-filers. Experts suggest reviewing AIS/TIS and reporting income correctly. Taxpayers should maintain records of investments. The current system needs a fix to avoid penalizing joint holders, particularly senior citizens.
After billion-dollar hirings, Zuckerberg slams brakes on Meta’s AI hiring spree as bubble fears shake Silicon Valley
Meta AI hiring freeze: Meta has paused hiring in its AI division. This decision follows worries about an AI investment bubble. Stock market declines have impacted tech companies like Nvidia. Concerns grew after a report questioned AI's returns. Meta says the pause is for organizational planning. Analysts warn high AI salaries could hurt shareholder value.
Talent eludes India's BFSI global capability centres; market to hit USD 135 bn by 2032: Report
Banking, Financial Services and Insurance Global Capability Centres in Mumbai face talent shortage. A report by Quess Corp projects the sector to reach USD 125-135 billion by 2032. There is a 42 percent skill gap in AI and data. Tier II cities like Jaipur and Kochi are emerging as hiring hubs. Companies are investing in cybersecurity and regulatory technology.
Is your job at risk?
India's job market faces uncertainty due to global economic shifts, AI advancements, and strategic restructuring, leading to layoffs in IT, manufacturing, and related sectors. While some jobs are on a decline, tech and AI roles are growing rapidly. Experts advise constant upskilling, networking, and diversifying income to navigate this transformation, emphasizing that reinvention and adaptability are key to securing future employment amidst evolving industries.
‘This is the freedom we need to fight for’: Adani warns India���s new age war is for tech and self-reliance
Gautam Adani, addressing IIT Kharagpur, emphasised India's urgent need for technological and economic independence, particularly in semiconductors, energy, and data security. He framed self-reliance as a 'second freedom struggle,' urging students to drive innovation and secure India's future. Adani warned that companies must adapt rapidly to avoid obsolescence in a world dominated by robotics and AI.
Tech hiring 2025: Hottest jobs to chase - and the roles you should avoid
In 2025, the US tech job market is divided between high-demand roles and declining positions. AI and machine learning jobs, along with enterprise technology roles like SAP consulting, remain the hottest opportunities, offering strong salaries and growth potential. In contrast, mid-tier and entry-level positions, including junior developers, IT support, and traditional software roles, have seen steep declines, partly due to automation and higher experience requirements.
The big number: $165,000
AI is reshaping the tech job market, reducing demand for entry-level coders as AI tools can generate code quickly. Computer science graduates face rising unemployment, with many shifting focus to AI-related roles. Companies and governments are now investing in AI training, seeing it as the future of tech employment.
Meta plans fourth restructuring of AI efforts in six months: The Information
Meta plans its fourth AI overhaul in six months, restructuring Superintelligence Labs into four teams, including a new "TBD Lab." Amid rising competition and heavy investment in AI infrastructure, CEO Mark Zuckerberg aims to accelerate progress towards artificial general intelligence, despite recent setbacks and soaring operational and staffing costs.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Spy twist? US allegedly bugged AI chips of Nvidia and AMD bound for China with hidden trackers
US government AI chip tracking to China: The United States government is trying to stop advanced Artificial Intelligence chips from reaching China. Federal authorities are secretly placing trackers in shipments suspected of illegal diversion. These trackers are hidden in containers and server packaging. Smugglers are aware of the tracking efforts. Nvidia's CEO denies advanced chips are reaching China.
Cognizant announces salary hikes amid uncertainty in IT industry
Cognizant announced merit-based pay hikes for 80% of eligible staff from November, following similar moves by TCS and Infosys amid industry uncertainty. While salary revisions offer relief, TCS is also laying off 12,000 employees. The IT sector remains cautious, with reduced hiring and concerns over large-scale job cuts persisting.
28-year-old techie, claiming to be an IIT-ian, considers quitting Rs 70 LPA job for much lesser salary but AI-proof jobs
A high-earning IIT graduate is grappling with impostor syndrome and anxiety, intensified by a short-lived startup experience and the AI boom. He's contemplating a significant pay cut for the stability of a government job to improve his mental well-being and balance family responsibilities. Online users advise exploring less stressful tech roles and addressing mental health before making drastic career changes.
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