In this week's wrapup, we talk about Warren Buffett’s secret life, Dunzo, Tata’s Apple ambitions and more.
For the markets edition this week, we talked about the Tata Technologies IPO. You can read it here.
Meanwhile, here’s a recap of what we wrote over the week.
Warren Buffett’s secret life?
Last week ProPublica, a non-profit investigative journalism platform uncovered a big secret related to one of the most ethical billionaires globally. We’re talking about Warren Buffett.
See, when you manage money for your customers, there are 3 cardinal things ―
#1 You don’t go ahead and personally buy a stock that you know your company will buy in the future.
#2 If your company is buying a stock, you don’t go ahead and do the exact opposite or vice versa.
#3 If you’re picking a stock for your customers, you don’t choose to buy a competitor’s stock for yourself. It just comes across as not having enough trust in something you recommend.
But looks like the CEO of Berkshire Hathway hasn’t stuck to this rulebook. He may have flouted some and that has raised some eyebrows. So, on Monday we wrote about what ProPublica revealed about Buffett’s personal trades. You can read it here.
When will India's firecracker industry celebrate Diwali?
In the early 20th century two cousins laid the foundation of India’s firecracker hub at Sivakasi. Today it makes over 90% of India’s firecrackers, employs nearly 8 lakh people and is worth ₹6,000 crores!
But things aren’t looking great for Sivakasi and the firecracker industry. Recently, the Supreme Court reiterated its old order on a traditional cracker ban pan India. So, we dived into its effects and economic consequences for India’s fireworks industry. Click here to read the story.
Will Tata’s Apple ambitions hit a roadblock?
A couple of months ago Taiwanese electronics giant Wistron shut down its iPhone production in India. It simply wasn’t getting a bang for its buck. And now Tata Electronics has gone ahead and bought 100% of Wistron’s iPhone manufacturing business. Could Tata run into the same problems as Wistron? Well, we tried to find answers in our story here.
What’s going on at Dunzo?
A week ago, Moneycontrol carried this headline ― “Deloitte casts doubt on Dunzo's ability to continue as going concern”.
But just the next day, this is what Business Standard said ― “Dunzo says will hit profitability in 12 months, has reduced costs”.
We thought it was a contrastingly confusing bit of news. So we tried to make sense of what’s happening at Dunzo. You can read it here.
Can an EV power your home?
EVs are actually energy storage systems on wheels. Yup! Think about it. An EV battery can typically store about 70 kilowatt hours (kWh) worth of electricity. That’s enough to power a home for over 2 days. So if you were to connect multiple EVs to the main electricity grid, it could be an effective way to use renewable energy when the demand for electricity is at its peak.
Now, this isn’t a concept we made up. It’s called vehicle-to-grid or V2G technology that’s possible through bidirectional charging systems. And it’s kind of what the Central Electricity Authority (CEA), an organisation that advises the government on matters related to electricity systems, wants for India. So we broke it down for you in our Friday’s newsletter here.
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We hope you enjoyed the weekly wrapup. Have a great weekend!
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