😮‍💨 Zomato’s whistleblower controversy

Good morning. Hope you have a great week ahead! Let’s go after it 🔥 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

•  😮‍💨 Zomato’s whistleblower controversy

•  🤖 India's urgent talent crunch in Agentic AI

• 🗞️ Bite-sized summaries

  • 🏭️ More and more dark stores

  • 💰️ No free pass for Phoebe Gates

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian markets fell for a second consecutive session amid geopolitical tensions and profit-booking. Broader indices and most sectors declined sharply, with Axis Bank, Adani Ports, and Zomato among the major losers. Despite Friday’s drop, both indices posted weekly gains, supported by earlier rallies.

🌍️ International

• US stocks closed higher for a fourth straight session, buoyed by strong tech earnings and signs of easing US-China trade tensions. Alphabet jumped 1.5% after reporting robust results, while Tesla surged 9.8% and Nvidia and Meta Platforms also posted notable gains. For the week, the S&P 500 gained 4.6% and the Nasdaq 6.7%, marking a strong recovery after recent volatility.

CORPORATE

 😮‍💨 Zomato’s whistleblower controversy

Zomato is facing controversy after an anonymous Reddit post, allegedly by a current employee, described deep internal turmoil at the food delivery giant. The whistleblower claimed that Zomato is losing market share to rivals like Zepto Cafe and Swiggy, and that employees are being pressured to place a minimum number of monthly orders on Zomato while banning use of competitors’ services within office premises. They also painted a picture of a “toxic” workplace, citing leadership instability — including the abrupt exit of Rakesh Ranjan, former head of Zomato’s food delivery division — and an unhealthy obsession with short-term targets, driving many employees to leave.

The post suggested that frustrations were mounting across the board — among customers, delivery riders, and restaurant partners — warning that Zomato's sleek external image belies a company in crisis.

CEO Deepinder Goyal swiftly responded, calling the claims “utter nonsense.” In a statement on social media platform X, Goyal firmly denied any loss in market share or any mandate requiring employees to order only from Zomato. He reiterated that employee freedom of choice is a core value and described it as “embarrassing” to even have to address the rumors. Nonetheless, he thanked well-wishers for their concern.

Overall: As the allegations continue to stir debate online, Zomato’s leadership remains adamant that the company’s culture and competitive standing are strong.

Read more: Economic Times

ARTIFICIAL INTELLIGENCE

 🤖 India's urgent talent crunch in Agentic AI

India is facing a critical shortage of agentic AI professionals just as global demand for intelligent, autonomous systems is exploding. According to industry estimates, the country has fewer than 100,000 experts today, while demand is expected to double to 200,000 by 2026.

Agentic AI—technology that autonomously makes decisions and adapts to dynamic environments—is now seen as the next frontier beyond basic chatbots and automation. Roles like agentic AI architects, AI agent engineers, and specialized program managers are becoming essential as companies shift from “software as a service” to “service as a software” models.

This shortage is already reshaping the tech talent landscape. Salaries for agentic AI experts with just 2–5 years of experience have skyrocketed to ₹25 lakh per annum, compared to ₹8 lakh for regular developers. At mid-senior levels, pay packages can range between ₹80 lakh to ₹2 crore, reflecting the fierce competition among GCCs, IT giants, and startups.

For India, this gap represents both a challenge and an opportunity. As the agentic AI market is projected to soar to $47.1 billion globally by 2030, India's ability to build deep expertise could define its leadership in industries like smart manufacturing, autonomous vehicles, and healthcare.

Overall: The surge in demand is pushing Indian companies to rethink how they upskill AI talent, attract global expertise, and invest in cutting-edge R&D. If addressed wisely, India can become not just a hub for AI developers, but a global leader in next-gen autonomous systems.

For young tech professionals, this is a once-in-a-decade opportunity to specialize early in a field that’s rapidly reshaping the future.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🏭️ More and more dark stores - Reliance Retail is expanding its quick commerce operations after a 2.4x surge in orders during the March quarter. The company plans to open dark stores — retail spaces without customer-facing operations — to enhance sub-30-minute deliveries across its network covering over 4,000 pin codes. CFO Dinesh Taluja said Reliance is seeing strong growth in daily orders and will continue marketing its quick delivery service with no hidden charges. The JioMart app offers instant, scheduled, and subscription deliveries. Reliance Retail also strengthened Ajio’s fashion deliveries, launched same-day service in 26 cities, and reported FY25 revenue of ₹3.30 lakh crore.

💰️ No free pass for Phoebe Gates - Bill Gates doesn’t Phoebe Gates, daughter of Bill Gates, launched Phia, an AI-powered fashion shopping app, without financial help from her father. Although Bill Gates said he would have funded her if asked, he admitted it would have been "tricky," involving business reviews and potential micromanagement. Instead, encouraged by both Bill and Melinda Gates to raise money independently, Phoebe built a lean, equity-holding team. Phia helps users find better fashion deals across 40,000+ retailers and plans to monetize through affiliate links.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Russian attack on Kyiv kills 12, prompting Trump to rebuke Putin.

• Pakistanis failing to leave India by deadline will face 3-year jail term or Rs 3 lakh fine.

• Engineering goods exports from India reach record high in 2024-25, hit $116.7 billion.

• RBI Governor Sanjay Malhotra urges US industry to invest in India.

• Lyft to start dispatching taxis for first time to cut wait times.

• Ted Sarandos says theatrical experience is “An Outmoded Idea For Most People;” claims Netflix is “Saving Hollywood”

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• BAFTA TV Craft Awards: Baby Reindeer, Shogun, Slow Horses, Rivals among winners.

• IPL 2025: 

  • SRH beat CSK by 5 wickets;

  • MI beat LSG by 54 wickets; and

  • RCB beat DC by 6 wickets.

  Leaderboard here.