The tech industry is continuing to struggle in 2024, with numerous companies announcing layoffs following a wave of job cuts in 2023. Major players like Intel, Dyson, Microsoft, and UKG are making significant reductions in their workforce, citing factors such as declining revenue, intense competition, and rapid technological advancements. The scale of these layoffs suggests the tech sector is facing significant challenges that will require strategic planning and adaptation to overcome.
The demand for DRAM and NAND flash memory is booming, leading to significant revenue growth and price increases. While this is good news for tech companies, consumers may face higher costs for electronic products, potentially impacting demand.
Over 100 venture capitalists have publicly endorsed Vice President Kamala Harris for the 2024 presidential election and pledged financial support to her campaign. This move comes as a counter to recent right-wing endorsements within Silicon Valley, aiming to showcase a broader support for democratic values within the tech community.
Nikesh Arora, CEO of Palo Alto Networks, earns a staggering USD 151.43 million, surpassing even Google CEO Sundar Pichai and Meta CEO Mark Zuckerberg. His impressive compensation and career journey highlight his significant impact on the tech industry.
Karnataka’s proposed 14-hour workday for tech employees is facing backlash, sparking concerns about worker well-being and productivity. The move comes amidst growing awareness of the negative impacts of excessive working hours on physical and mental health, with scientific research highlighting the detrimental effects on health, productivity, and mental well-being.
Andhra Pradesh Minister Nara Lokesh has invited tech companies to relocate to Visakhapatnam following NASSCOM’s disappointment over the Karnataka State Employment of Local Industries Factories Establishment Act Bill, 2024, which mandates job reservations for Kannadigas in private firms. Lokesh highlighted the state’s supportive environment for IT and related industries, while Karnataka Minister Priyank Kharge defended the bill, emphasizing the importance of local talent development.
A new super PAC supporting Donald Trump’s presidential campaign, America PAC, has received millions in donations from prominent tech and business leaders. This surge in support from Silicon Valley comes as some tech leaders express discontent with President Biden’s policies and find favor in Trump’s promises on free speech and cryptocurrency. The PAC’s focus on voter outreach through direct contact and digital media is playing a significant role in strengthening Trump’s campaign efforts.
Shiladitya Mukhopadhyaya, the husband of renowned singer Shreya Ghoshal, has been instrumental in the success of Truecaller, serving as the Global Head of Business since April 2022. His contributions have helped the company achieve remarkable growth and solidify its position as a market leader with over 374 million monthly active users.
K Dinesh, a co-founder of Infosys, took an unconventional path, leaving a government job to build a tech empire. He played a pivotal role in the company’s success, serving on the board for 30 years before transitioning into philanthropy. This article highlights Dinesh’s journey from a government employee to a tech visionary and his dedication to social causes.
Indian-born Nikesh Arora, CEO of Palo Alto Networks, has emerged as the second-highest paid CEO in the US, according to The Wall Street Journal’s list of top earners. Arora’s total compensation soared to $151.43 million, with stock options making up a significant portion. Notably, several other executives of Indian descent have also secured spots among the highest earners. This includes Shantanu Narayen of Adobe, who ranks 11th with a compensation of $44.93 million. The list also features Sanjay Malhotra (Micron Technology), Ajei Gopal (Ansys), and Reshma Kewalramani (Vertex Pharmaceuticals) within the top 120. Arora’s compensation dwarfs that of tech giants like Elon Musk of Tesla and Sundar Pichai of Alphabet, both of whom opted for non-traditional compensation structures. Musk received no compensation, while Pichai earned $8.80 million. Mark Zuckerberg of Meta took home $24.40 million. Arora, an alumnus of Delhi’s Air Force Public School, previously served as Google’s chief business officer before leading SoftBank in Japan with a record-breaking compensation package. He has been at the helm of cybersecurity firm Palo Alto Networks since 2018.
