Byju’s flatly denies claim of ‘accounting scandal’

Here are the top trending news from the world of technology. News that we feel every tech enthusiast should keep a tab on.

1)

Byju’s flatly denies claim of ‘accounting scandal’

Byju’s has completely denied the media reports that the company may have fudged or cooked up its balance sheet. Since yesterday there have been a barrage of reports in the media that the edtech giant’s auditor Deloitte has been hesitant in signing the company’s balance sheet. Deloitte, according to media reports, has cited that there is something really fishy about the company’s balance sheet. What is also adding to this speculation is the fact that Byju’s is almost 15 months late in filing its 2021 financial report. But Byju’s has clarified to CNBC that it will be filing this report by the end of this month.

2)

Bill Gates says cryptos and NFTs are meant for ‘foolish people’

Tech billionaire Bill Gates has once again slammed cryptos and NFTs, claiming that these digital assets are based on ‘great fool theory.’ In other words, the Microsoft founder hinted that only foolish people can ever think of investing in these over-priced and over-hyped digital assets. Gates’ critical comments have come at a time when cryptos and NFTS are currently going through a major meltdown. Talking specifically about cryptos, all major cryptos including Bitcoin and Ethereum have seen a massive correction of 30-40% during the last few days.

3)

Stung by TikTok, Facebook is going for a major redesign

Facebook, the world’s most popular social media platform, is literally scared of TikTok’s growing popularity. So much so that the social media giant is now planning to change its algorithm. In all likelihood, Facebook’s new algorithm will almost be a clone of TiKTok’s own algorithm. What this means is that in the coming days Facebook users will get to see more content in their feeds that is not related to accounts and pages that they follow. Mark Zuckerberg’s company believes that this will help in bringing more engaging and exciting content for its users. And also help the platform to better compete with TikTok.

4)

Ashneer Grover is planning to start a new startup

Remember BharatPe’s former CEO Ashneer Grover, who was a subject of a major scandal only a few months back. This scandal became so huge that it almost became a national talking point. Well, if grapevines are to be believed, Grover is now planning to start his own startup. Grover, who is also a co-judge at the famous reality show Shark Tank, is reportedly already in talks with several investors and is planning to raise nearly $300-400 Mn for his new startup. However, the details of the Grover’s soon to be launched startup is still not known.

5)

Spotify to go slow on Hiring

Microsoft, Meta, Intel, Tesla, Apple, Snap Inc, Coinbase, Salesforce. Well, the list of companies that plan to go slow on hiring due to economic slowdown is really long. Now another company has got added to this list and the name of that company is Spotify. The streaming giant has said that it will reduce its new hiring by almost 25%. Spotify had reportedly hired more than 6000 employees last year.