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Sree Vijaykumar | From the Editor's Desk
Like many other payment app, WeChat allows its users to send Packets of predetermined amounts to each other, either individually or in groups. But it also encourages users to send money to groups in randomized amounts. Say you have a chat group with five pals. You can put $5 in a red envelope and set it to disburse equally, so each friend gets $1. Alternatively, you could stipulate that the first two people to tap will get all the money in equal portions- $2.50 each - or that the first two people get a random cut, maybe $1 for one person and $4 for the other. The result is that any time a red envelope appears, people scramble to tap on it as fast as possible. (The packets expire in a day, adding to the time pressure.) Only afterwards do they see how much money they've won, giving it an addictive element of surprise. So addictive, in fact, that third-party apps now exist that let users grab red envelopes without unlocking their phones. More in this story about how a centuries-old tradition gave rise to China's most valuable company and captured the attention of everyone from teens to Silicon Valley
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Entertainment
Adv: Performance Management – The Google way! Google’s performance management philosophy has always been fairly non-traditional thus instead of formal rankings, employee goal-setting has been a part of Google's culture since the beginning. Employees set a goal for themselves and outline a series of quantifiable results that will help them achieve that objective. Join us at the Great Place to Work® Conference 2017 to hear Mr. Suryanarayana Kodukulla, Director, People Operations, Sales, India, Google and over 15 other leaders share their insights how to create a High-Trust, High Performance Culture™. Learn more. |
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RetailAmazon infuses Rs 150 crore in payments businessThe authorized share capital of Amazon’s payments arm in India, Amazon Online Distribution Services (AODS), has been increased to Rs 400 crore from Rs 69 crore. The company has also received capital infusion of Rs 150 crore, documents filed last month with the regulatory authority pointed out. |
| Retail
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Food/FMCGCentre not softening ground on restaurant service charge
The consumer affairs ministry reiterated that eateries cannot take "service charge" forcefully during a meeting with representatives from the industry. It also asked the industry to address concern of consumers "with transparency" whether the service charge is actually passed on to the employees. |
| Food/FMCGFMCG, telecom companies keep the TV ads running
FMCG, telecom companies keep the TV ads running - While some media reports suggest a dent of Rs 1,200-1,500 crore to the ad revenues in Q3, others suggest that number could be as high as Rs 2,000 crore |
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