In this week’s wrapup we discuss Meta’s switch to community moderation, why California is holding Big Oil accountable for its wildfires, the Kirloskar family feud, Oxfam’s report on colonial wealth and reparations, and finally, the evolution of money from the barter system and gold to paper money and Bitcoin.

And in this week’s markets edition, we give you a simple explainer on how unlisted companies in India are outpacing their listed peers and what it could mean for markets as well as the economy.

Click here to read the full markets story.

Now, let’s recap what we wrote over the week.

Why is Meta giving up on fact-checking?

Meta, the company behind Facebook, Instagram and Threads, is ditching professional fact-checkers in the US and switching to “community-driven moderation”.

But why the change? Well, CEO Mark Zuckerberg says it’s to bring back free speech and reduce bias from fact checkers and centralised systems.

While it sounds like a fair idea, there are risks. Crowds can misinterpret facts, spread fake news faster than it can be corrected, and make it harder to figure out who’s responsible.

So, is Meta’s move a leap towards democratisation or a gamble with truth? And what could it mean for their business?

Check out Monday’s newsletter here for the full story!

Why California wants Big Oil to pay for its wildfires?

Los Angeles’ wildfires have caused an estimated $150 billion in damages, left thousands homeless, and claimed countless lives. And climate advocates are pointing fingers at fossil fuel giants for this devastation.

It's because their emissions have driven up global temperatures, making disasters like these more frequent and intense. And it doesn’t stop there. These corporations have been paying lower taxes for decades by lobbying for tax benefits — funds that could have actually supported climate programs.

So, activists are demanding accountability, although it’s an uphill battle.

Will Big Oil finally pay up for climate disasters? Dive into our Tuesday newsletter here and find out.

Inside the Kirloskar family feud and SEBI's involvement

One of India’s oldest business families, the Kirloskars, are embroiled in a bitter dispute. It revolves around a 2009 family agreement and SEBI’s demand to make it public.

However, the Kirloskar-listed business entities and the family members controlling them disagree. And now, the situation has spiralled into a full-blown legal saga.

With the case now in the hands of the Securities Appellate Tribunal (SAT), the outcome could set an important precedent for family-run businesses in India. 

Curious to know what’s happening within the Kirloskar Group? You can check out our Wednesday's story here for the entire scoop.

What if India got back everything the UK stole?

A recent Oxfam report, ‘Takers, Not Makers’, estimates that the UK siphoned off $65 trillion from colonial India between 1765 and 1900.

Fast forward to today, and Oxfam suggests that it’s time for the richest — those who’ve benefitted the most from colonialism — to bear the cost of reparations.

So here’s a thought. What if India could somehow reclaim all this looted wealth? 

Curious? Dive into the Thursday newsletter for the full story.

Finshots Cracks Crypto #2: What's Money?! From Barter to Bitcoin🤯

Ever wondered how money went from barter to Bitcoin?

It all started with exchanging commodities like wheat for milk or apples for fish. But this system was messy because you may not have always wanted what the other person was giving you. That led humanity to use collectables like shells and stones. But again, these forms of money weren’t scarce enough. And so, then gold, paper money and eventually, the complex digital currencies we use today came about.

But here’s the catch. Money isn’t just coins, notes or even numbers on a screen. It’s a trust or a social contract that has evolved alongside human behaviour. And to understand that we need to rewind a bit and go back to where it all began.

That’s exactly why, in the second edition of our Finshots Cracks Crypto series we tell you why all the previous forms of money failed and how cryptocurrencies might just be the next big leap.

Dive into our Friday newsletter to know everything about this fascinating journey of money.

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