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<ul><li><keyword id="7716660" type="General" weightage="100" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword>, a Gurugram-based health-tech startup, has reportedly laid off 300 employees.</li><li>The company has recently fired 45 employees, citing underperformance.</li><li>Pristyn Care is backed by investors such as <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword> and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>.</li></ul>Gurugram-based health-tech startup Pristyn Care is the latest to join the list of companies laying off its workforce. In its latest round of layoffs, the company has fired 45 employees. The layoff wave has been arriving in ripples across the Indian companies after affecting thousands in the global market, including big names like <a href="https://www.businessinsider.in/tech/news/elon-musks-twitter-laid-off-more-than-90-of-staff-in-india-now-only-about-12-employees-remain-report-says/articleshow/95383606.cms">Twitter</a>, <a href="https://www.businessinsider.in/tech/news/meta-says-it-will-lay-off-more-than-11000-employees/articleshow/95405068.cms">Meta</a>, among many others. According to a<a href="https://inc42.com/buzz/exclusive-healthtech-unicorn-pristyn-care-trims-workforce-gst-officials-seek-clarity-on-biz-model/"> report</a> by Inc42, the Sequoia Capital and Tiger Global-backed health-tech firm has fired around 300 employees across departments in the last two months. <cmsannotation type="cmsannotation" annotationid="What does Pristyn Care do?" comment="subhead" text="What does Pristyn Care do?">What does Pristyn Care do?</cmsannotation> Pristyn Care is a health-tech company founded in 2018 by Dr <keyword id="345234" type="General" weightage="50" keywordseo="vaibhav-kapoor" source="Orion">Vaibhav Kapoor</keyword>, Dr <keyword id="12305824" type="General" weightage="50" keywordseo="garima-sawhney" source="Orion">Garima Sawhney</keyword>, and <keyword id="11127890" type="General" weightage="50" keywordseo="harsimarbir-singh" source="Orion">Harsimarbir Singh</keyword> that offers advanced secondary care surgeries across 800 hospitals, 200 clinics, and over 400 super-specialty surgeons. The company has so far <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-is-the-42-startup-to-be-valued-over-1-billion/articleshow/88157965.cms">raised</a> $177 million from Sequoia Capital, Tiger Global, Winter Capital and others. <cmsannotation type="cmsannotation" annotationid="15% of employees laid off" comment="subhead" text="15% of employees laid off">15% of employees laid off</cmsannotation> The fired employees make up around 15% of the company’s total workforce. The fired employees were junior and mid-level employees working in sales, administration, city teams, and others. The company has claimed that it has fired only 45 employees, and they were let-go due to underperformance. "We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and we found around 45 employees across the organization who were performing consistently below expectations and we had to part ways," a Pristyn Care spokesperson told Inc42. The company has, however, denied claims about a mass layoff and has claimed that it has hired over 300 employees in the last four months. The layoffs come at a time when the company is<a href="https://yourstory.com/2023/03/sequoia-backed-pristyn-care-lays-off-300-employees-shuts-medical-tourism-vertical"> reportedly</a> scaling down its international expansion segment focused on medical tourism. The segment reportedly failed to generate sufficient revenue. Pristyn Care is not the only healthcare startup that has laid off employees. Companies like PharmEasy, MediBuddy, and Innovaccer have recently announced layoffs. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a>

Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

US-based technology startup accelerator <keyword id="610465" type="General" weightage="100" keywordseo="y-combinator" source="Orion">Y Combinator</keyword> is laying off 17 employees -- or 20 per cent of its staff -- as it announced to scale back late-stage funding. The layoffs came as Y Combinator, which has invested in thousands of startups including at least 200 from India, wrote a petition to US Treasury Secretary <keyword id="116249" type="General" weightage="50" keywordseo="janet-yellen" source="Orion">Janet Yellen</keyword> and others in the wake of the <keyword id="630197" type="General" weightage="50" keywordseo="silicon-valley-bank" source="Orion">Silicon Valley Bank</keyword> (<keyword id="675965" type="General" weightage="80" keywordseo="svb" source="Orion">SVB</keyword>) collapse, asking them to prevent shockwaves that could lead to financial crisis and layoffs of more than 100,000 workers. The company, however, said the layoffs were planned before the SVB collapse. Y Combinator CEO <keyword id="4836111" type="General" weightage="50" keywordseo="garry-tan" source="Orion">Garry Tan</keyword> said in a statement that YC is rightly known for early stage investing. "In recent years, we have also done some late-stage investing. But late-stage investing turned out to be so different from early-stage investing that we found it to be a distraction from our core mission. So we're going to decrease the amount of late stage investing we do," he mentioned. As a result, "we will no longer need some of the roles on the late stage investing team. Seventeen of our teammates are impacted today," <keyword id="52681" type="General" weightage="80" keywordseo="tan" source="Orion">Tan</keyword> wrote. The YC CEO said this shouldn't have any noticeable effect on the companies it has funded. "YC is known primarily as a place where very early founders create something from nothing by simply applying online and joining the world's best founder community," said Tan. Over 1,200 CEOs and founders representing over 56,000 employees had signed the YC petition to save startups and hundreds of thousands of jobs. In the Y Combinator community, one-third of startups with exposure to SVB used SVB as their sole bank account. SEE ALSO: <a href="https://www.businessinsider.in/business/news/pristyn-care-has-reportedly-fired-300-employees/articleshow/98514449.cms">Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months</a> <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a>

Y Combinator lays off 20% staff, scales back on late-stage investments

New Delhi, The current Information Technology (IT) Act, 2000 has several limitations, including the lack of comprehensive provisions on user rights, trust and safety. The proposed <keyword id="13582784" type="General" weightage="20" keywordseo="Digital-India-Act" source="Orion">Digital India Act</keyword> (<keyword id="986" type="General" weightage="80" keywordseo="dia" source="Orion">DIA</keyword>) will give a much-needed thrust to the current regulatory landscape in India to tame Big Tech and empower millions of citizens, the government has emphasized. The country needs Global Standard Cyber Laws to act as a catalyst and enabler for the $1 trillion <keyword id="50691" type="General" weightage="100" keywordseo="digital" source="Orion">digital</keyword> economy, according to <keyword id="205969" type="General" weightage="50" keywordseo="rajeev-chandrasekhar" source="Orion">Rajeev Chandrasekhar</keyword>, Minister of State for Electronics and IT. This is how the DIA will become a game-changer once it comes into practice. According to Chandrasekhar, only 5.5 million Indians were on the Internet and today, 850 million citizens are connected on the web, making the country the "largest digitally connected democracy". In his presentation to various stakeholders this week, the minister said that from one type of Internet intermediary in the year 2000 to multiple types of intermediaries today (e-commerce, digital media, social media, AI, OTT, gaming etc.), we are facing new complex forms of user harms -- catfishing, doxxing, cyber stalking, cyber trolling, gaslighting and phishing, etc. The proliferation of hate speech, disinformation and fake news are other serious concerns that the old IT regime cannot address. Hence, there is an urgent need for DIA rules which will "manage the complexities of the Internet and rapid expansion of the types of intermediaries". "The new digital law should be evolvable and consistent with changing market trends, disruption in technologies, development in international jurisprudence and global standards for qualitative service/products delivery framework," Chandrasekhar mentioned. Emphasizing the need for an open Internet, the minister said that it should offer Choice, Competition, Online Diversity, Fair Market Access, and Ease of Doing Business and Ease of Compliance for Startups. The proposed DIA will offer adjudicatory and appellate mechanisms for accountable and responsive digital operators; updated intermediary framework; obligations on significant digital operators through classification/ mandates; algorithmic transparency and periodic risk assessments by digital entities. The DIA will have a core Team in the IT Ministry (MeitY) -- Minister of State (MoS) IT, Additional Secretary, GC Cyberlaw, ASG, an outside legal expert and an industry expert. There will be a comparative study of all relevant global laws pertaining to the Internet and technology in other countries for the draft Digital bill. "There will be consultations with experts, general public, industry, media, academia, student community, Internet governance forums and consumer forums for the DIA," according to the minister. The aim is to fulfill Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s 'Digital India Goals 2026' and create a $1 trillion digital economy by 2025-26. "India will be a significant trusted player in the global value chains for digital products, devices, platforms and solutions," said Chandrasekhar. The draft Digital Personal Data Protection Bill would be among the initiatives under the broad DIA -- the others being National Data Governance Policy, amendments in the Indian Penal Code (IPC) related to cyber crimes and DIA rules. "The Indian laws should be able to handle the rapid expansion of social media intermediaries," said the minister. SEE ALSO: <a href="https://www.businessinsider.in/business/news/pristyn-care-has-reportedly-fired-300-employees/articleshow/98514449.cms">Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months</a> <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a>

Explained: How Digital India Act will replace old IT regime to tame Big Tech, safeguard users

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Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

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Y Combinator lays off 20% staff, scales back on late-stage investments

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Explained: How Digital India Act will replace old IT regime to tame Big Tech, safeguard users

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