Netflix explores ad supported plan as its subscriber base shrinks

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

1)

Netflix explores ad supported plan as its subscriber base shrinks

Netflix has always taken a pride in its USP of being an ad free platform. But the streaming giant may soon lose this novelty. That’s because Netflix is exploring a plan of introducing ads into its platform. But Netflix users won’t have to worry too much about this. Simply because the streaming platform is planning to introduce ads through a separate plan. This ad supported plan will be billed at a low base price. Netflix has been forced to take this drastic step as it reported drop in its subscriber numbers while reporting the first quarter results. This is first time in a decade that Netflix has reported a drop in its subscriber numbers in a decade. Owing to slower growth in its subscriber base, Netflix has projected that its revenue will remain flat in coming quarters.

2)

Uber and Lyft scraps Mask rule in the U.S.

Ride-hailing platforms Uber and Lyft have lifted mask requirements for drivers and riders in the U.S. This decision comes barely a day after a federal judge in Florida struck down Biden government’s mandatory mask rule. Biden administration had issued an order stating that passengers traveling by public transports will have to mandatorily wear masks. Uber and Lyft may also have taken this decision due to declining numbers of COVID cases in the U.S.

3)

Indian crypto platform CoinDCX raises $135Mn at $2Bn valuation

Indian crypto companies are currently facing relentless regulatory crackdown. However, this isn’t stopping the investors from pouring funds into Indian crypto companies. The latest one to raise funds is the Mumbai based crypto company CoinDCX. CoinDCX has raised $135Mn in its Series D round from several investors. The Mumbai based company said that it will use this fund to open innovation centers to accelerate Web3 and blockchain adoption in India.

4)

Elon Musk claims he doesn’t own a home and sleeps in Friend’s spare bedroom

Elon Musk, who is currently in news for his offer to buy Twitter, has made quite an outrageous claim. The world’s richest man, whose wealth is estimated to be $269Bn, has said that he doesn’t even own a home. Musk went on to add that he right now takes sleep at his friend’s spare bedroom. Such claims by the world’s richest man are little hard to believe. But Musk’s wealth has always been a subject of great speculation. Several reports claim that much of Musk’s wealth doesn’t constitute of liquid cash or properties. Rather Musk’s wealth reportedly largely compromises of high value stocks he owns in his companies Tesla and SpaceX     

5)           

Amid regulatory crackdown, WazirX CEO Nischal Shetty shifts his base to Dubai

We already told you that Indian crypto companies are continuously facing regulatory crackdown. Now amid this regulatory crackdown, media reports claim that WazirX CEO Nischal Shetty has shifted his base to Dubai. Now it is presumed that Mr. Shetty may have taken this step because Dubai has favorable rules for the crypto industry. It is worth noting that WazirX was at the forefront of the recent regulatory crackdown. The company’s offices were raided by ED and IT official earlier this year. Due to the continuous crackdown, WazirX’s trading volumes have seen a steep fall in recent months.