Today's Tech Check: "Major updates from Substack's rival, U.S security alerts, Jio's 5G Triumph and Innovative Ventures in Lab-grown Diamonds and Indian Tech"
23rd April, 2024 "
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1. "Ghost Enters the Fediverse: Substack's Rival Announces 2024 Integration Plan"
Ghost, an open-source competitor to Substack, announces plans to join the fediverse in 2024.
The fediverse is a network of interconnected servers hosting various apps like Mastodon, Pixelfed, PeerTube, Flipboard, and Instagram Threads.
Last week, Ghost surveyed its users on integration preferences, hinting at its upcoming expansion.
2. "Alert: US Government Exposes Major Security Flaw in Chirp Systems App - Your Smart Locks Could Be at Risk!"
US government identifies a security flaw in Chirp Systems' smart home lock app.
The flaw allows unauthorized remote control over home locks.
Chirp Systems accused of ignoring warnings from CISA and a security researcher.
Issue raises significant concerns about home security and company accountability.
3. "Revolutionizing Connectivity: Jio's 5G Rollout Engages Over 10.8 Million Users with Unprecedented Speeds"
Reliance Jio has more than 10.8 crore (108 million) subscribers on its 5G network as announced alongside its Q4 financial results for March 2024.
Mukesh Ambani, RIL's chairman, highlights the significant 5G subscriber base as leading India's 5G transformation.
Jio's 5G users generate nearly 28% of its wireless data traffic, all carried on its own 5G+4G network infrastructure.
The company's 5G service, JioAirFiber, extends across nearly 5,900 cities and towns, with plans for nationwide coverage soon.
JioAirFiber users' average daily data consumption stands at approximately 13 GB, 30% more than JioFiber users.
Jio Platforms reported a 12% YoY net profit increase to INR 5,583 crore and a 13.4% revenue increase to INR 28,871 crore in Q4 FY24.
Reliance Jio's ARPU improved to INR 181.7 per month in Q4 FY24 with its customer base nearing 48.18 crore at the end of March 2024.
Akash Ambani, chairman of Reliance Jio Infocomm, cites network leadership and innovative digital solutions for the company's success.
RIL's overall consolidated operating revenue grew by 2.6% YoY to INR 9.14 lakh crore in FY24, and net profit rose by 7.3% to INR 79,020 crore.
4. "Shining Bright: The Lab-Grown Diamond Startup Catching a16z's Eye"
Lab-grown diamond startup catches the eye of influential venture capital firm, a16z.
Jewelry, especially diamonds, plays a significant role in hip-hop culture for expressing ideas, affluence, or to impress.
Drake, a prominent figure in hip-hop, owns a diamond-encrusted iPhone case worth $400,000.
The startup provides a more accessible option for people who cannot afford traditional diamond prices, democratizing luxury.
5. "Discover the Future of Innovation: Top 30+ Startups Unveiled at HAX's May 1 Demo Day"
Over 30 startups showcased at HAX’s Demo Day on May 1.
TechCrunch visited HAX's Newark offices, located in New Jersey.
The visit highlighted the commute challenges from Queens, which was 90 minutes.
Comparison made to a previous visit to HAX's Shenzhen space in China.
HAX’s operations in China have significantly reduced.
HAX is a hardware accelerator run by SOSV.
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