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Fervent Indian Businessman and Director of Sua Explosives &amp; Accessories Private Limited, <keyword id="292868" type="PERSON" weightage="20" keywordseo="Abhishek-Poddar">Abhishek Poddar</keyword> has made a huge investment of $200,000 in an Australian venture owned by <keyword id="2915777" type="PERSON" weightage="20" keywordseo="Tim-Goodman">Tim Goodman</keyword>, which auctions fine art pieces and diamonds globally. 
 An Economic Times report suggests that to simplify the auction process and also to cut the cost of auctions, the <keyword id="2916253" type="UNKNOWN" weightage="20" keywordseo="Fine-Art-Bourse">Fine Art Bourse</keyword> (F.A.B.) will challenge the current business models of giants like <keyword id="165441" type="UNKNOWN" weightage="20" keywordseo="Sothebys">Sotheby's</keyword> and <keyword id="56712" type="COMPANY" weightage="20" keywordseo="Christies">Christie's</keyword>. 
 
With a global approach, the project has been termed as an ambitious and a bold one. As per Abhishek Poddar’s account, the unique selling point of this project is the financial model. 
 
According to Goodman, the founder of the auction company, Poddar owned 2.5% stake in the company and was also allotted some bonus shares. "As he was an early investor, he received bonus shares and has now got a total of 400,000 shares or 5% equity in the startup," Goodman said. 
 
Poddar, who is a Bangalore-based businessman and owns multiple businesses including mining explosives, tea trading, and also an organization that is dedicated to increase visibility of photography as an art. In his newly started venture, Poddar will sit on the advisory board. 
 
There are other distinguished Indian nationals and expats on the advisory board as well who are being issued a small number of shares. Other specialists who have been roped in include names like Aqdas Tatli, Niyatee Shinde and Rekha Sodhi. 
 
The man with decades of experience in auctioning and former owner of Sotheby’s Australia and some other auction houses, Tim Goodman is also in talks with some other investors, including Indians to raise funds for expansion. "We have already closed the first round of funding at $3 million and are looking to raise another $5 million," he said, adding the money will be used to expand the global network and for the launch of online diamonds business later this year. 
 
"Considering the demand, we expect the diamond business to be huge in India," he added. Describing the business model of FAB, he said, "We will charge a buyer's commission of just 5%, compared to the 25% fee commanded by most of the traditionalists." 
 
According to the entrepreneur, the traditional auction business model is no longer sustainable, which is why he sold all his auction businesses, including Sotheby's Australia. 
 
"In 2011, I sold my stakes in all the auction houses as I was disillusioned. The ratio between the cost and income for auction houses has been changing consistently over the last 30 years in favor of costs," said Goodman. 
 Image: thinkstock

Tim Goodman to give wings to Diamond auctioning business in India

<ul class="summary-list"><li>Small drones capable of constantly keeping an eye on soldiers are changing the modern battlefield.</li><li>It's a developing problem that underscores how "scary" future wars may be, a US Army officer said.</li></ul>It seems like a never-ending story in Ukraine. A small drone drops explosives on soldiers below or slams into an armored vehicle and blows up. Social media has been flooded with scenes from such attacks.Drones — cheap, commercial ones in particular — are a terrifying new reality that is <a target="_blank" href="https://www.businessinsider.com/russia-ukraine-fighting-drone-war-us-military-was-waiting-for-2023-8">reshaping the modern battlefield</a> in unprecedented ways."You have to assume you're being watched at all times," Lt. Col. Moseph Sauda, a US Army officer training American service members to defeat enemy drone systems, told Business Insider in an interview.Sauda is the director of the Joint C-sUAS (Counter-small Unmanned Aircraft System) University, or JCU, a new US Army initiative at Fort Sill where <a target="_blank" href="https://www.businessinsider.com/us-troops-shoot-balloons-learn-to-defeat-dangerous-drone-threat-2024-3">American troops are learning</a> how to identify, engage, and neutralize potentially hostile drones. BI observed some of the training programs firsthand during a visit to the facility in southwest Oklahoma.<div type="image" title="Ukraine Russia DJI drone" height="1347" width="2000" msid="108498022" hostid="261"></div>The utilization of weaponized commercial drones in combat goes back nearly a decade, when <a target="_blank" href="https://www.washingtonpost.com/world/national-security/use-of-weaponized-drones-by-isis-spurs-terrorism-fears/2017/02/21/9d83d51e-f382-11e6-8d72-263470bf0401_story.html">the Islamic State used small aircraft</a> to <a target="_blank" href="https://www.businessinsider.com/drones-used-to-drop-bombs-on-us-troops-in-syria-2020-3">cause headaches for US and partner forces</a> in the Middle East.This threat, however, has been <a target="_blank" href="https://www.businessinsider.com/ukraine-civilian-drones-it-relies-on-losing-effectiveness-against-russia-2024-1">put on display</a> for the whole world to see throughout Russia's war against Ukraine. Both sides in this conflict have <a target="_blank" href="https://www.businessinsider.com/ukraine-civilian-drones-it-relies-on-losing-effectiveness-against-russia-2024-1">relied on cheap drones</a> of all shapes, sizes, and capabilities to undertake a myriad of tasks and generally wreak havoc on the battlefield.Videos captured from <a target="_blank" href="https://www.businessinsider.com/ukraine-behind-russia-drone-war-experts-2023-10">these drones</a> has shown the world <a target="_blank" href="https://www.businessinsider.com/video-drones-fly-into-open-hatches-armored-vehicle-ukraine-russia-2023-11">death and destruction</a> of both men and equipment on a massive scale, often asymmetrically beyond their value. Drone usage has, in many cases, also stripped both Kyiv and Moscow of a crucial element: secrecy.The constant surveillance that drones can offer is forcing militaries to change how they move through the battlespace and pushing troops to consider new measures of detection and protection, Sauda said.But the problem obviously doesn't stop with observation, as these aircraft can deliver varying levels of explosive payloads, becoming quite deadly.<div type="image" title="A Ukrainian drone operator from the 24th Separate Mechanized Brigade tests new military equipment including FPV drones on the training area amid Russia-Ukraine war in Donetsk Oblast, Ukraine on August 03, 2023." height="683" width="1024" msid="108498024" hostid="261"></div>"You look at doctrine for any military around the world, one of the things you don't want to do is let the enemy see what you're doing," Sauda said. "That's called maintaining security and the element of surprise.""Well," he said, "these drones have essentially taken away your ability to hide."Indeed, one of the lessons that the US military is drawing from overseas, specifically in Ukraine, is a heightened emphasis on cover and concealment tactics, something that's being taught all the way down at the boot camp level, said Lt. Col. Adam Schultz, the commander of a basic training battalion at Fort Sill.Army leadership has been working to implement drones into basic training, employing practices like flying the aircraft above soldiers, who can then learn how to react to — and disappear from — the aerial threat, Schultz told BI in an interview."If you are not concealing yourself, if you're not covering yourself, your survivability decreases very rapidly," he said.<div type="image" title="A screenshot from a video appearing to show Russia using a Chinese-made Desertcross 1000-3 all-terrain vehicle in Ukraine." height="1444" width="2018" msid="108498202" hostid="261"></div>It is a new reality for the battlefields of today and tomorrow — with exceedingly grim implications."The future of warfare is scary," Sauda said. "The pace of technological developments for these types of threats is going to out-race your ability to create things to counter them."Figuring out how best to counter the drone threat is what the JCU is hoping to accomplish. Since October, hundreds of US troops have flocked to Fort Sill for two-week courses that help them understand drones and practice different methods of defeating the threat.One part of training involves students using two pieces of handheld equipment in the Army's counter-drone inventory, the Dronebuster and the Smart Shooter, to engage drones on a firing range using both electronic and kinetic methods.<div type="image" title="Two Wisconsin National Guardsmen identify drones with their instructor at Fort Sill." height="4000" width="6000" msid="108498204" hostid="261"></div>The Dronebuster is an electronic warfare system that severs the link between a drone and its operator when pointed at the aircraft. A Smart Shooter system is a rifle equipped with a special optic that can track the drone, calculate its trajectory, and inform the user when they have a solid chance of hitting the aircraft with a conventional bullet. (Students at the JCU shoot balloons tied to the drones because its more cost-effective and provides more effective training.)The Dronebuster and Smart Shooter systems, which work best when used in tandem, are just two of the tools that students at the JCU are learning how to use. Training, for example, also includes other assets like early-warning radars. The idea is that defeating drones likely requires a much larger effort than just one single system, but rather a collection of initiatives.<div type="image" title="A Wisconsin National Guardsman takes aim with a Smart Shooter." height="4000" width="6000" msid="108498206" hostid="261"></div>"There's no silver bullet," Sauda said. "There's no one machine you're going to buy and it's the end-all solution to all things drones. We need to accept that and instead remain agile and continue to come together and think and work with each other."Looking forward, Sauda said he believes the US military can still use the tools in its arsenal to dominate on the battlefield, where the threat of small drones may be omnipresent. However, he cautioned, the Pentagon will have to keep pace with the rapidly developing threat."If we had to fight and win today in this current environment, with what's going on in flying, we would still win," he said. "But the enemy is still going to evolve."

Drones are watching 'at all times' and show just how 'scary' future wars will be, says a US Army officer focused on defeating them

<ul class="summary-list"><li>Small drones have emerged as a serious problem on the modern battlefield, especially in Ukraine.</li><li>The US military is training service members how to engage and defeat this dangerous threat. </li></ul>An ordinary pink balloon dangling by a string from a small quadcopter drone shakes violently in the wind as it whips across the hills of southwest Oklahoma.Two National Guardsmen closely track the movement of the balloon, which is unable to stay even remotely still. One of them steadily raises his rifle to the sky. A few seconds — and a few loud bangs — later, the balloon is gone.The balloon wasn't dangerous, but it represented a deadly and terrifying threat that has become a defining characteristic of the war in Ukraine and one that the US military is now training to fight against: small drones, or unmanned aircraft systems, that can be packed with explosives.The two Guardsmen are students at the Joint C-sUAS (Counter-small Unmanned Aircraft System) University, or JCU, a new US Army initiative based at Fort Sill, less than 100 miles southwest of Oklahoma City. There, American service members from all branches of the military have started learning how to identify, engage, and ultimately defeat the emerging drone threat that is rapidly reshaping modern battlefields.<div type="image" title="Two Wisconsin National Guardsmen identify drones with their instructor." height="4000" width="6000" msid="108467392" hostid="261" sizebytes="939636"></div>"This is everybody's fight," Lt. Col. Moseph Sauda, the JCU director, told Business Insider in an interview during a recent visit to Fort Sill.More than two years of <a target="_blank" href="https://www.businessinsider.com/russia-ukraine-fighting-drone-war-us-military-was-waiting-for-2023-8">war in Ukraine has featured drones</a> of all shapes, sizes, and capabilities on both sides. Cheap, commercial drones in particular have performed a myriad of deadly tasks. Small quadcopters are often filmed releasing explosives above troops and armored vehicles or simply flying into them and detonating.While such tactics have become exceedingly commonplace in Ukraine, they are not unique to the conflict. Weaponized commercial drones were, for instance, used by <a target="_blank" href="https://www.washingtonpost.com/world/national-security/use-of-weaponized-drones-by-isis-spurs-terrorism-fears/2017/02/21/9d83d51e-f382-11e6-8d72-263470bf0401_story.html">the Islamic State</a> in the mid-2010s. Their usage presented a new headache for American and partner forces in the Middle East."The US took this very seriously," Sauda said. "This prompted us to start rethinking how we train people and getting some weapons systems, and just systems in general, out there to help protect people and save lives."<div type="image" title="Operators shoot at a balloon dangling from a small drone." height="4000" width="6000" msid="108467394" hostid="261" sizebytes="96616"></div>The JCU, which is just one element of a much larger Pentagon response to combat the rising threat of drones, essentially emerged as a way to consolidate counter-drone training for service members across the US armed forces in one place.Since October, hundreds of US troops have come to Fort Sill for two-week courses to learn how to understand, identify, and defeat potentially hostile drones."The intent here is to standardize and centralize the training, as well as become a repository and a think tank for this fight," Sauda said.One aspect of the training involves having JCU pilots fly small drones above firing a range to replicate known and unknown threats. The students at the training center then practice engaging these threats using the Army's counter-drone equipment: the Drone Buster and the Smart Shooter.The Drone Buster is an electronic warfare system. A user can point it at the drone, and it cuts the signal between the system and its operator. A second service member standing nearby can then use a Smart Shooter system — a rifle outfitted with a special optic that tracks the drone, calculates its trajectory, and informs the user when they have a good chance of hitting it with a conventional bullet — to neutralize it.<div type="image" title="A Wisconsin National Guardsman holds up a Drone Buster." height="4000" width="6000" msid="108467395" hostid="261" sizebytes="927642"></div>The Smart Shooter system is the kinetic follow to the electronic warfare component. It's hard enough to shoot a drone that's still, and "near impossible" to shoot one that's moving, Jacob Cameron, who manages the JCU's aircraft and pilots as its "air boss," told BI.In other words, the Smart Shooter is a much-needed asset that even a great marksman would likely find helpful.The Drone Buster and Smart Shooter don't necessarily need to be used together, but they work best if they are, Cameron said. The JCU also employs other electronic-based systems, like early-warning radars, in its training process. Detecting the initial threat is the most difficult part of the counter-drone fight.With a Drone Buster and Smart Shooter in their hands, two National Guardsmen practiced one-on-one engagements against single drones out on the range, which BI observed firsthand. But instead of shooting down commercial drones, throwing away hundreds of dollars or more on each target, troops went up against simple balloons.It is a cost-saving method, but it also adds some rigor to the process.<div type="image" title="A Wisconsin National Guardsman takes aim with a Smart Shooter." height="4000" width="6000" msid="108467399" hostid="261" sizebytes="1636404"></div>"If you can hit a balloon in the wind in Oklahoma, you can probably hit a drone," Cameron said. The Guardsmen agreed, telling BI the balloons provide an ideal training target because of the erratic movement in the wind.The use of balloons won't last forever, though, as the JCU has a plan to start incorporating its own cheaply manufactured, 3D-printed drones that can be used in one-time engagements within the next six to eight months.At the JCU, operators also train how to engage drone swarms, when multiple aircraft are flown by a single pilot in an attempt to overwhelm defenders, and practice defeating that threat through electronic jamming.During a swarm exercise, the range started out quiet. But the peaceful sound of the Oklahoma wind quickly gave way to the ominous buzz of eight drones closing in on the Guardsmen's location from multiple directions. The drones were unarmed, but they were meant to replicate a terrifying aspect of the evolving drone threat.<div type="image" title="A small drone hovers above the firing range." height="4000" width="6000" msid="108467401" hostid="261" sizebytes="173676"></div>The Guardsmen said what worries them most about the drone threat is how quickly the aircraft can surround them before they realize what's happening. The widespread availability, low cost, and effectiveness of small commercial drones is also a concern, they added.On the modern battlefield, drones have made it such that soldiers must assume they're under constant surveillance, which ultimately forces them to change how they move through an environment, Sauda said."You got to start utilizing deception. You have to start utilizing passive means of protection, hardening, you name it," he said.And the technology, capabilities, and payload capacity of small drones has been rapidly evolving over the years, making the threat "that much more dangerous, that much more concerning," Cameron said. "That's great for the hobbyist, but it's terrifying for the military defender."

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