However, for the venture capital industry, the "India story" might not be so rosy. Even the data from 2023 suggest that the venture capital industry has experienced what could be termed an "Indian accident."
Tensions between Israel and Palestine persist. On October 19, Israeli security forces clashed with Palestinian militants in the West Bank city of Tulkarm, where local militants fired on the Israeli side and detonated explosive devices.
OpenAI is reportedly in talks to allow current employees to sell their shares at an estimated valuation of $86 billion. However, OpenAI hasn't finalized the allocation details, and the terms might change.
The Israel-Palestine conflict has intensified significantly over the past week. In retaliation against Hamas attacks, Israel announced its commitment to a "difficult and prolonged war," mobilizing 300,000 reservists from various sectors to the battlefield.
WeWork, the co-working space giant, saw its stock price drop by 8% after the market opened today, following a decline of over 20% the previous day. Currently, the company's stock price stands at $2.34, bringing its market capitalization to a mere $123 million.
In a surprising turn of events, House Speaker Kevin McCarthy, a Republican, faced a significant setback as he was ousted from his position. Regardless of who takes the helm next, they will grapple with the same challenges McCarthy faced: pressure from the hardline conservative faction of the GOP and escalating bipartisan tensions. If the new Speaker follows in McCarthy's footsteps by compromising with Democrats, they too might face a similar fate.
As the European Union enters its election season, Western support for Ukraine faces challenges. Ukraine's three eastern neighbors-Slovakia, Poland, and Hungary-are grappling with mounting pressures against aiding Ukraine.
The Federal Reserve recently confirmed plans to cut approximately 300 jobs by the end of this year. The reductions will come in the form of layoffs, early retirements, and not filling vacant positions. The cuts will primarily target support roles, including obsolete tech positions.
The European Union's "Chips Act" officially came into effect on September 21. The European Commission announced that the legislation aims to promote the industrialization of key technologies, encouraging both public and private sectors to invest in chip manufacturing facilities and their suppliers.