Thursday, 17th September ’20
Good morning, welcome to TMT Thursday. TMT has always endeavored to be a reader first daily bringing in the best news and information for you to stay informed and entertained. On this journey, our reader feedback has been a strong pillar and as we transcend into new beginnings, we would like to ask you what is that you like to read. You can mail us at team@productround.com so that we can continue on this journey of making TMT worth your time.
Here is a quote from Paulo Coelho to kickstart your day,
You drown not by falling into a river, but by staying submerged in it.
MARKETS
Markets: The market continued on its uptrend being backed by almost all sectors. The Nifty Pharma and Realty gained the most among sectors, rising over 2 percent each, while Nifty Auto was up 1.5 percent, followed by Bank, FMCG, and IT indices which gained around half a percent each. Today, the markets are expected to follow the global cues, amidst the lack of any domestic triggers. Wall Street’s main indexes rose on Wednesday as investors hoped the Federal Reserve would continue to keep interest rates low for a prolonged period.
TECHNOLOGY & INNOVATION
- A total of 1.66 billion transactions worth Rs 5.99 lakh crore were processed by various mobile-based banking and payment applications in June, at a time when most bank branches were either shuttered or operating with reduced strength, according to the latest RBI data.
- Chinese gaming and social media giant Tencent has pumped $62.8 million into Flipkart’s $1.2 billion investment round, according to regulatory filings made by the Walmart-owned eCommerce company in Singapore.
- Snowflake Inc said late on Tuesday that its initial public offering raised $3.36 billion after it was priced above the target range in the biggest U.S. listing so far this year. The IPO, which was priced at $120 per share, values the cloud-based data warehouse firm at north of $30 billion.
WHAT ELSE IS COOKING
- India beats China, becomes a member of UN’s Economic and Social Council body: India has been elected as a member of the United Nations Commission on Status of Women, a body of the Economic and Social Council (ECOSOC). India, Afghanistan and China had contested the elections to the Commission on Status of Women. Even as India and Afghanistan won the ballot among the 54 members, China could not cross the half-way mark.
- Atal Tunnel, world’s longest highway tunnel connecting Manali with Leh is ready: The construction of the Atal Tunnel connecting Manali with Leh, which is the world’s longest highway tunnel above 10,000 feet, has been completed in a span of 10 years whereas the original estimated time was less than six years. Fire hydrants have also been installed inside the tunnel in case of any fire incident.
- Serum Institute gets nod to resume Oxford Covid-19 vaccine trial in India: The Drugs Controller General of India (DCGI) gave permission to Pune’s Serum Institute of India (SII) to resume its phase two and three clinical trials of the Oxford Covid-19 vaccine candidate in the country. The DCGI has also asked SII to submit the details of the medication used as per protocol for the management of the adverse events.
BUSINESS LOUNGE
Dream On!
The United States is renowned for its highly televised and watched sports, be it American Football, baseball, or basketball. Yet, for these well-marketed events, there are no legalized betting outlets, because betting is illegal as it is a game of chance. Fantasy Sports companies argue though, that their games are a game of skill.
This argument resulted in a $7Bn market in the US, with mega unicorns like Draft Kings and Fan Duel. As with most things that catch the fancy of people in the US, the UK was quick to bring fantasy sports on their shores. And the football, the real football, fantasy league – fantasy premier league, became quite the rage all across the world.
The most popular sport in India, cricket, is watched by 700MM people every year with frenzies during the IPL. Cricket is a well marketed and watched sport in India – $2.6B spent on televising rights – and with such craze around it, it’s easy to imagine the demand for fantasy sports platforms. This is where Dream 11 comes into the picture.
The company has grown from 2MM in 2016, to 8MM users in 2017, 40MM in 2018 and claims to be at well over 100MM users in 2020. The fanfare around the IPL has helped it grow on the back of network effect and perhaps because of staying on course from very early on. There was only 1 platform in this space for a long time. Now there’s more than 70.
Dream11 won the sponsorship rights for the IPL giving it a sense of validation by the game that they predicated their success on. Fantasy sports are poised to grow in this country, as evinced by the number of startups rising in this sector. And Dream11 is at the vanguard.
TMT VARSITY
There are two types of issue trees during case interviews:
A problem-based tree or diagnostic tree can be used to determine the root cause of the problem and understand the “why” the problem exists.
A solution-based tree can be used to determine the recommendation and understand the “how” to solve the problem.
An issue tree is a graphical breakdown of your key question. Trees have four basic rules:
- They consistently answer why or how questions (depending on your key question)
- They progress from the key question to the analysis as they move to the right
- Their branches are mutually exclusive and collectively exhaustive (MECE)
- They use an insightful breakdown
Diagnostic trees are for diagnosing your key question
Diagnostic trees help you search for all the possible causes of a problem. They give you the “WHY?”.You list these in logical groups on the first column to the right of your key question, ensuring that your groupings are MECE. As you progress to the right, you drill further down in the details of each grouping.
Solution trees are for actively looking for ways to correct your problem
With solution trees, you look for all the potential solutions to your problem. They give you the “HOW?”. As a general rule, you want to know the WHY before you get to the HOW, so if you don’t know the root cause(s) of your problem, find these first by means of a diagnostic tree.
Written by Kumar Sourav Mohanty, Akansh Bhatt, and Shashank Dobhal
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