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Air taxis to fly in India soon?🛩
Yahoo! shuts down in India, Apple CEO collected $750 mn, A91 Partners, Sporjo, and more.
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Air taxis to be a reality soon under new drone policy: Aviation Minister 🛩
Aviation Minister Jyotiraditya Scindia on Thursday expressed that just like taxis on the road, air taxi operations will be possible in the coming days under the new drone policy.
“I believe, there is a possibility that similar to taxis running on the road like Uber, etc at present, we see taxis in the air, under the drone policy," Scindia said.
The Drone Rules, 2021, as they will be known, replace the Unmanned Aircraft System Rules (UAS) 2021, which came into effect just a few months ago, on March 12.
Why are new rules being introduced? After business and academia complained that the UAS Rules were restrictive and needed a lot of paperwork and clearances, the government announced that they will be repealed in 2021.
Benefits: Agriculture, mining, infrastructure, surveillance, emergency response, transportation, geospatial mapping, defense, and law enforcement, according to the government, can all benefit from drones. India has the potential to become a global drone hubby 2030, according to the report.
Yahoo! shuts down news sites in India over FDI regulations 🚫
Web service provider Yahoo! said it is shutting down its news operations in India on August 26 citing new Foreign Direct Investment (FDI) regulations.
Yahoo will shut down its services including Yahoo News, Yahoo Cricket, Finance, Entertainment, and MAKERS India.
The change will not affect users of Yahoo Mail and Yahoo Search.
Did you know? In 2008, Microsoft tried to buy Yahoo! for $44.6 billion, but Yahoo! turned down the offer, claiming it was worth considerably more. Verizon bought Yahoo! nine years later for less than a fourth of what Microsoft had offered.
Elda Health, a women's healthcare platform, has raised $1.5 million in a seed funding round to scale up offerings and hire fresh talent.
Sporjo, a sports-focused online education, training, and employability startup said that it has raised $2 million in funding and that tennis champion Leander Paes has joined the company as a strategic advisor and brand ambassador.
A91 Partners, a venture capital firm, has closed its second fund for $525 million. The mentioned amount is nearly double the size of its initial round, which closed at $350 million in 2019.
Agnikul Cosmos, a space tech firm, has teamed with EOS India, a renowned 3D printing technology business, to enhance their synergy in 3D printing for rockets and subsystems.
Apple CEO collected $750 million in final payout from the deal 💰
This week, Apple Inc. CEO Tim Cook will receive the tenth and final installment of the pay package he earned when he took over the top position from co-founder Steve Jobs a decade ago.
Cook has become a billionaire thanks to Apple's soaring stock price, which has allowed him to collect top payouts year after year. According to the Bloomberg Billionaires Index, he has a net worth of around $1.5 billion.
The company's revenue has more than doubled under his leadership, and its stock has recovered more than 1100%, putting the market value at more than $2 trillion.
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In other news
✅ Facebook has approached academics and policy experts about forming a commission to advise it on global election-related matters.
✅ PhonePe gets an in-principle nod from RBI to operate as an account aggregator.
✅ Rainmaker has launched a cryptocurrency fantasy gaming platform to offer India’s crypto enthusiasts and crypto-curious a whole new and unique trading experience.
“Life can seem short or life can seem long, depending on how you live it.”
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