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<div type="image" title="Founder Mode is the new buzzword in town" msid="113456356" hostid="261"></div> Silicon Valley is usually buzzing with new catchphrases every now and then. Earlier this year, the phrase “unbossing” captured corporate America’s imagination. The trend seems to be spreading in India as well with a few examples of companies firing middle managers. You can read more about the ‘unbossing’ trend in India here: <a href="https://www.businessinsider.in/business/article/whats-with-all-unbossing-talks-are-indian-companies-also-embracing-this-global-trend/articleshow/113395706.cms">What’s with all “Unbossing” talks?</a> Now, lo and behold, we've got a new trend straight from the minds of Silicon Valley's finest: <keyword id="23219793" type="General" weightage="100" keywordseo="founder-mode" source="Orion">Founder Mode</keyword>. It's like a superhero cape for CEOs but without the spandex. <keyword id="20064348" type="General" weightage="20" keywordseo="Y-Combinator" source="keywords" meta.keywordsubtype="org" meta.entityname="Y Combinator" meta.hostid="261" meta.entityid="Y Combinator">Y Combinator</keyword> co-founder <keyword id="20555672" type="General" weightage="20" keywordseo="Paul-Graham" source="keywords">Paul Graham</keyword>, inspired by Airbnb CEO Brian Chesky’s talk at an event, penned a blog post about Founder Mode and it got the entire startup world talking. According to Graham, when Chesky scaled Airbnb, he initially followed the widely accepted strategy: hiring skilled professionals and giving them autonomy. However, this approach felt like running a marathon in flip-flops, it simply didn’t yield the desired results. So, he decided to go full-blown "Founder Mode," which is basically being the CEO, the janitor, and the motivational speaker all at once. <div type="image" title="Paul Graham’s blog post went viral" msid="113456577" hostid="261"></div> Graham’s post points out that this experience is not unique to Chesky — many other founders have faced similar challenges and come to similar conclusions. The result is a growing recognition of ‘Founder Mode’. <h2><keyword id="23219794" type="General" weightage="20" keywordseo="what-is-founder-mode" source="Orion">What is Founder Mode</keyword>?</h2>Founder mode is a mindset that allows entrepreneurs to remain deeply involved in their companies’ day-to-day operations, even as they scale. As we have seen in many Hollywood movies and real-world examples like Jobs, Musks, Zuckerbergs, and Murthys, founders operate (a bit too) differently from trained executives and managers. They're like the kids who built their own fort and refuse to let anyone else touch it. On a serious note, anecdotal evidence does support that founders focus on the vision, processes, and details of the business in ways that managers typically do not. Graham's post suggests that it’s a different way of running a company — one that involves a hands-on approach to leadership, where founders engage with more than just their direct reports. <div type="image" title="Founders are different from managers" msid="113456522" hostid="261"></div> Unlike traditional corporate structures, where the top management is expected to delegate and step back, Founder Mode requires more personal involvement. Basically, when the CEO of a company is in Founder Mode, where founders bypass layers of management to interact directly with lower-level employees, they can just walk over to a junior employee and ask “What’s up?”, something that <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> reportedly has been doing for a while. One of the core aspects of Founder Mode, according to Graham, is that founders can make decisions with a level of intuition and insight that professional managers often lack. This is largely because they’ve built the company from the ground up and have an intimate understanding of its operations, culture, and customers. In contrast, professional managers are typically brought in to optimise and scale systems that are already in place, which might often lead to decisions that feel disconnected from the original vision of the company. <h2>Steve Jobs and Apple: The classic example of Founder Mode</h2> <div type="image" title="Many experts agree that Steve Jobs is a peak example of Founder Mode" msid="113456730" hostid="261"></div> A key example that Graham used is Steve Jobs, who famously ran Apple with an almost obsessive focus on product and design. Jobs didn’t simply delegate these responsibilities to his team; he was known for being involved in the minutiae, often directly challenging decisions and leading initiatives that others might consider too detailed for a CEO. Graham drew a parallel between this approach and what Chesky realised at Airbnb — that stepping back too much can actually harm the company. Founders, Graham wrote, are often “gaslit” into believing that they should adopt a more hands-off style, only to see their businesses suffer as a result. However, many experts also believe that Founder Mode is often disastrous for companies, except for rare examples, and a balance between founder and manager modes is necessary. <h2>Founder Mode VS Manager Mode: Experts weigh in on the debate</h2> <div type="image" title="Debates around Founder Mode have been rampant across social media since the beginning of this month" msid="113456800" hostid="261"></div> Debates around Founder Mode have been rampant across social media since the beginning of this month when Graham’s blog post came out. The philosophical divide between Founder Mode and Manager Mode often compels people to choose sides, while industry veterans and experts say that it’s important to understand both approaches and companies must try to achieve a balance between them. Sonica Aron, Founder of HR advisory firm Marching Sheep, recognises the importance of managers and says that it is important to have good people in the team and empower them. Talking to Business Insider India, she says, “As a founder, I find myself to be very purpose driven and passionate about my firm. As a result, sometimes decisions tend to get driven by the heart rather than the mind. Therefore it is essential to have bright and committed people in your team, empower them, involve them in decision making. Also, as the founder, I am responsible not just for the health of my business but overall well being of my team. If they do well, we all do well.” On the other hand, Mr. Srinivasa Addepalli, founder and CEO of GlobalGyan Leadership Academy, feels that the debate of Founder Mode vs Manager mode shouldn’t exist in the first place. He told Business Insider India that according to him, “all good leaders, whether startup founders or corporate executives, must be capable of both modes and switch between them depending on the context.” He added, “The Founder Mode leader tackles problems with passion and ownership, without concern for hierarchy, precedents, or due process. However, founders must remain humble about their fragility. To ensure sustainability, the Manager Mode—focused on developing others, building structures, and codifying knowledge—becomes essential, even as it requires them to relinquish some control and accept inefficiency. For instance, Steve Jobs’ decision to set up Apple University was a classic Manager Mode action by one of the best-known founders.” Ayush Singh, Founder of MaplePods, a smart-technology business, says, “Founder Mode may inspire new entrepreneurs, but seasoned founders know building something meaningful and scalable requires more than motivation—it's about solving problems, staying resilient, and seeking real support along the journey.” <h2>The downsides of Founder Mode</h2>While there are many people who believe that entering Founder Mode is healthy, some experts argue otherwise. They say that since founders are deeply connected to their vision, staying too hands-on can lead to micromanagement and hinder the growth of a leadership team. This creates a culture of dependency and can cause chaos when a founder steps into too many areas, leading to inefficiency and fear among employees. Mr. Ankit Aggarwal, founder and CEO of Unstop, told Business Insider India, “While Founder Mode can foster an entrepreneurial culture and drive rapid growth, it comes with significant challenges related to scalability, accountability, and founder burnout. As companies scale, Founder Mode can lead to bottlenecks, as founders may find it difficult to delegate. This limits the development of a strong leadership team and may stifle creativity from other employees.” Further, he adds that intense involvement can lead to founder burnout, negatively affecting both the individual and the company. “In the long run, while Founder Mode may work for early-stage <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword>, founders must recognise when to step back and 'devolve'. Devolving to allow the company to grow through more traditional structures, without succumbing to excess hierarchy. Balancing innovation with scalability is key to long-term success, allowing founders to focus on strategy while empowering their teams.” Meanwhile, Aleksandr Yampolskiy, cofounder and CEO of SecurityScorecard, said in a LinkedIn article that the Founder Mode has both pros and cons. He highlighted the value of founder mode in providing visionary leadership and empowering CEOs to challenge their teams and boards when necessary. However, Yampolskiy also wrote that overstepping and micromanaging can create chaos and a culture of fear. He said that founders must learn to evolve with the company’s growth, delegating and making themselves dispensable over time. <h2> Why are people talking about Founder Mode now?</h2> <div type="image" title="Why are people talking about Founder Mode?" msid="113456851" hostid="261"></div> So, why did Graham’s blog post go viral and why are people talking about Founder mode? Discussions around Founder Mode vs Manager Mode might have been around for a long time, but Graham’s post helped a great deal in popularising the confusion that millions of founders go through. Risa Mish, a management professor at Cornell University’s Johnson College of Business, told Observer that it is “no surprise that Graham’s message has resonated with founders for whom the conventional wisdom hasn’t worked.” “It comes down to something very basic, which is that one size never fits all.” Do you have insights or personal experience to share on start-ups or latest corporate buzzwords? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: Founder Mode — the secret sauce to startup success or fancy term for hustle and micromanagement?

<ul class="summary-list"><li>California fast-food franchisees say they're desperate to find ways to remain profitable. </li><li>Restaurants are trying to offset the state's new $20 minimum wage for fast-food workers.</li></ul>Fast-food franchisees in California are desperately looking for ways to cut costs as the state's <a target="_blank" href="https://www.businessinsider.com/california-20-dollar-fast-food-wage-restaurant-prices-jobs-workers-2024-3">$20 minimum wage for workers at limited-service restaurants</a> kicks in.Proponents of the legislation say that it will help thousands of workers with basic living costs. But fast-food chains and their franchisees worry about the impact that the wage hike could have on their profits."As of today, I am well into the red," Michaela Mendelsohn, who owns six El Pollo Loco restaurants in California, told <a target="_blank" href="https://www.nbclosangeles.com/news/local/how-fast-food-wage-hike-affects-other-sectors-of-las-economy/3377550/">NBC Los Angeles</a> on Monday, the day the new wage was introduced."We are losing money, so we are going to need to stop the boat from leaking by making changes," she said.Some chains, including McDonald's and Chipotle, have said that diners in California should expect <a target="_blank" href="https://www.businessinsider.com/fast-food-isnt-cheap-anymore-2023-11">higher prices</a> because of the legislation. But franchisees can largely set their own prices, and some are <a target="_blank" href="https://www.businessinsider.com/fast-food-isnt-cheap-anymore-2023-11">cautious about scaring off customers</a>.One McDonald's franchisee in Los Angeles County, for example, recently said her <a target="_blank" href="https://www.businessinsider.com/mcdonalds-california-menu-could-become-unaffordable-to-cover-wage-hike-2024-3">food would become "unaffordable"</a> if she raised her prices enough to offset the new wage fully.As a result, some locations are looking for <a target="_blank" href="https://www.businessinsider.com/mcdonalds-franchisee-on-raising-prices-to-cover-california-minimum-wage-2024-4">other ways to absorb the higher wages without deterring diners</a>:<h2>1. Laying off workers</h2>Some franchisees are <a target="_blank" href="https://www.businessinsider.com/california-fast-food-restaurants-lay-off-workers-minimum-wage-hike-2024-3">laying off workers</a> to cut their payrolls and avoid paying higher wages.Two Pizza Hut franchisees in California said they planned to scrap in-house delivery to rely on third-party services instead, resulting in around 1,200 workers being laid off. A Round Table Pizza franchisee has also filed plans to lay off 70 delivery drivers this month.<div type="image" title="A DoorDash delivery driver riding a bicycle" height="1029" width="1543" msid="109006225" hostid="261" sizebytes="144192"></div>Alex Johnson, an Auntie Anne's Pretzels and Cinnabon franchisee, told <a target="_blank" href="https://apnews.com/article/california-fast-food-minimum-wage-a04c2e559b09cbcd26dd5702e0755a83">The Associated Press</a> that he'd laid off his office staff and was getting his parents to help out instead.<h2 class="premium">2. Cutting hours and hiring less</h2>But many franchisees say they don't want to lay off their workers.Instead, some are <a target="_blank" href="https://www.businessinsider.com/fast-food-operator-kills-vacations-hikes-prices-calif-wage-law-2024-1">cutting employees' hours and stopping hiring</a>, like Marcus Walberg, who owns several Fatburger restaurants in Los Angeles. "We're being very tight on schedules," he told BI in January.Other franchisees have made similar comments. Mendelsohn, the El Pollo Loco franchisee, told <a target="_blank" href="https://www.npr.org/2024/03/30/1241451631/california-fast-food-20-minimum-wage">NPR</a> that her preemptive price increases had already deterred some customers. "So really what's left is ... to reduce labor hours," she said. "And I hate saying that.""I'm definitely not going to hire anymore," Brian Hom, the owner of two Vitality Bowl restaurants in San Jose, told <a target="_blank" href="https://www.wsj.com/business/hospitality/california-restaurants-cut-jobs-as-fast-food-wages-set-to-rise-eb5ddaaa">The Wall Street Journal</a> in March.<h2>3. Dropping staff benefits</h2>Walberg told BI in January that he'd stopped his restaurants' paid time off program to prepare for the wage increases."We just can't afford to do that anymore," he said.<h2>4. Turning to order kiosks</h2>Restaurants are turning to technology and automation to help reduce labor costs.Sharon Zackfia, a restaurant analyst at William Blair, previously told BI that she expects <a target="_blank" href="https://www.businessinsider.com/fast-food-chains-investing-heavily-in-ordering-kiosks-2024-3">digital order kiosks</a> — currently a key focus area for some fast-food chains — to spread "even more quickly" in California. Kiosks mean that diners can place orders without having to speak to staff at a counter.<div type="image" title="Wendy's order kiosk" height="3468" width="4624" msid="109006229" hostid="261" sizebytes="1247808"></div>Mendelsohn, the El Pollo Loco franchisee, told <a target="_blank" href="https://edition.cnn.com/2024/04/01/business/california-fast-food-minimum-wage/index.html">CNN</a> that she was introducing order kiosks and was considering bringing in <a target="_blank" href="https://www.businessinsider.com/how-restaurants-use-ai-robots-chatbots-voice-assistants-drive-thru-2023-9">AI-operated drive-thrus</a>.<h2>5. Spending less on operations</h2>Beyond labor, restaurants are looking for other ways to save on their operating costs."Can I turn my lights off? Can I not have the air conditioning on right now? Can I turn it on later?" Kris Stuebner, executive VP of operations at KFC and Wendy's franchisee Jem Restaurant Management Corporation, told <a target="_blank" href="https://abc30.com/california-law-minimum-wage-fast-food-works-20-an-hour/14604514/">ABC 30 Action News</a>. "That's things that we're looking at right now."The higher wage is making some franchisees put off larger changes to their operations, too, including opening new restaurants.Scott Rodrick, a McDonald's franchisee with 18 restaurants in northern California, told Fox News that he might have to postpone some major investments, like remodeling dining rooms and buying new grills, and would have to seriously consider whether he'd want to open new restaurants in the state.Alex Johnson, the Auntie Anne's Pretzels and Cinnabon franchisee, told the AP that he wasn't looking at opening any more locations in California. "I have to consider selling and even closing my business," he said. "The profit margin has become too slim."Are you a fast-food worker excited about the new minimum wage? Or a franchisee or restaurant manager worried about how it will affect your business? Email this reporter at <a target="_blank" href="mailto:gdean@insider.com">gdean@insider.com</a>.

Here are 5 ways fast-food restaurants in California are cutting costs to cover the new minimum wage

A <keyword id="19895037" type="General" weightage="20" keywordseo="Bengaluru" source="keywords">Bengaluru</keyword> based <keyword id="19910096" type="General" weightage="20" keywordseo="woman" source="keywords">woman</keyword> has been awarded a <keyword id="19896798" type="General" weightage="20" keywordseo="compensation" source="keywords">compensation</keyword> of Rs five lakh by a <keyword id="20546234" type="General" weightage="20" keywordseo="consumer-forum" source="keywords">consumer forum</keyword>, nearly 20 years after a 3.2 centimetre <keyword id="22504968" type="General" weightage="100" keywordseo="surgical-needle" source="keywords">surgical needle</keyword> was left in her body following her surgery at a private <keyword id="19915254" type="General" weightage="20" keywordseo="hospital" source="keywords">hospital</keyword> here. The Karnataka State Consumer Disputes Redressal Commission has directed the hospital and two <keyword id="20000183" type="General" weightage="20" keywordseo="doctors" source="keywords">doctors</keyword> to pay Padmavathi, a resident of Jayanagar, Rs 50,000 as litigation expenses. It has also directed <keyword id="22497673" type="General" weightage="20" keywordseo="New-India-Assurance-Co-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="New India Assurance Co Ltd" meta.hostid="261" meta.entityid="New India Assurance Co Ltd">New India Assurance Co Ltd</keyword>, which had issued a policy covering the hospital expenses, to pay her Rs five lakh for "the professional and <keyword id="21130249" type="General" weightage="20" keywordseo="medical-negligence" source="keywords">medical negligence</keyword> caused." The then 32-year-old woman underwent the surgery on September 29, 2004 at the <keyword id="22497672" type="General" weightage="20" keywordseo="Deepak-Hospital" source="keywords" meta.keywordsubtype="org" meta.entityname="Deepak Hospital" meta.hostid="261" meta.entityid="Deepak Hospital">Deepak Hospital</keyword>, with the two doctors allegedly performing the hernia operation. On completion of the surgery, her appendix was also removed, according to the Commission's order last month. Immediately, on the next day, she complained of severe pain for which she was prescribed some pain killers and assured that it is post surgery discomfort and that it will get cured. She suffered acute stomach and back pain for several years and was also admitted in the same hospital twice later, the order noted. Padmavathi later approached another private hospital here in 2010 and during a scan, it was noticed that some foreign body existed in the abdominal and back portion of her body and it was suggested to her to get it (surgical needle) removed. She then underwent surgery and the 3.2 cm surgical needle was removed following which she approached the consumer forum with a complaint the following year. The forum noted that the complainant was aged about 32 years, when she underwent all these surgeries and removal of the surgical needle. "Definitely she suffered severe pain and inconvenience till removal of the surgical needle," the order stated. Hence, she is entitled to get "global compensation" of Rs five lakh and the insurance company (New India Assurance Company Limited) is directed to pay the amount while the two doctors are liable to pay litigation expenses of Rs 50,000 to the complainant, it further added.

Woman to get Rs 5 lakh compensation, 20 years after needle left in her body after surgery

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> and The <keyword id="19986269" type="General" weightage="20" keywordseo="Walt-Disney-Company" source="keywords">Walt Disney Company</keyword> have announced the completion of their merger.</li><li>JioStar will be the new destination for their content, with plans priced starting at ₹15 per month.</li><li>Here’s everything you need to know about JioStar and the company’s new plans.</li></ul>Reliance Industries and The Walt Disney Company have finally completed the much-awaited merger of their media businesses. With this, Star India Private Limited has emerged as the new joint venture (JV) between the two companies. Nita Ambani has been appointed as the chairperson of the JV valued at $8.5 billion on a post-money basis. After much speculation about the website, the company has announced jiostar.com as the new hub for its digital content. The company has also announced plans for different languages, starting as low as ₹15 per month. At present the company has offered several plans in standard definition and high definition, with more plans expected to be added in the coming days. <h2>JioStar standard definition packs</h2><ul><li>Star Value Pack Hindi – ₹59 per month </li><li>Star Premium Pack Hindi – ₹105 per month </li><li>Star Value Pack Marathi Hindi – ₹67 per month </li><li>Star Premium Pack Marathi Hindi – ₹110 per month </li><li>Star Value Bengali Hindi – ₹65 per month </li><li>Star Premium Pack Bengali Hindi – ₹110 per month </li><li>Star Value Pack Odia Hindi Mini – ₹15 per month </li><li>Star Value Pack Odia Hindi – ₹65 per month </li><li>Star Premium Pack Odia Hindi – ₹105 per month </li><li>Star Value Pack Malayalam – ₹57 per month </li><li>Star Premium Pack Malayalam – ₹105 per month </li><li>Star Value Pack Tamil Malayalam – ₹63 per month </li><li>Star Premium Pack Tamil Malayalam – ₹105 per month </li><li>Star Value Pack Kannada Malayalam Mini – ₹45 per month </li><li>Star Value Pack Kannada Hindi Mini – ₹45 per month </li><li>Star Value Pack Kannada Hindi – ₹67 per month </li><li>Star Value Pack Hindi Kannada – ₹67 per month </li><li>Star Value Pack Telugu Hindi – ₹81 per month </li><li>Star Value Pack Hindi Telugu – ₹81 per month </li><li>Star Value Pack Telugu Hindi Mini – ₹70 per month </li><li>Disney Kids Pack – ₹15 per month </li><li>Disney Hungama Kids Pack – ₹15 per month </li></ul><h2>JioStar high-definition packs</h2><ul><li>Star Value Pack Lite HD Hindi – ₹88 per month </li><li>Star Premium Pack Lite HD – ₹125 per month </li><li>Star Value Pack Marathi Lite Hindi HD – ₹99 per month </li><li>Star Premium Pack Marathi Hindi HD – ₹145 per month </li><li>Star Value Pack Bengali Lite Hindi HD – ₹99 per month </li><li>Star Premium Pack Bengali Lite Hindi HD – ₹145 per month </li><li>Star Value Pack Odia Lite Hindi HD – ₹99 per month </li><li>Star Premium Pack Odia Lite Hindi HD – ₹135 per month </li><li>Disney Kids Pack HD – ₹18 per month </li><li>Disney Hungama Kids Pack HD – ₹18 per month </li></ul>Apart from this, users also have the option to Ala-carte plans, selecting the channels they want and only paying for them, similar to what most dish operators already offer. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/asus-rog-zephyrus-g16-review/articleshow/115054981.cms">Asus ROG Zephyrus G16 gaming laptop review – With a big AI boost</a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms">Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26</a>

JioStar announces plans starting at ₹15 – here’s everything you need to know

In what is seen as a major standdown, the pilots' union of <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword> has withdrawn its opposition to the new wage pact and employment agreement. In a joint letter issued on Thursday, the Indian Pilots' Guild (<keyword id="179256" type="General" weightage="50" keywordseo="ipg" source="Orion">IPG</keyword>) and Indian Commercial Pilots' Association (ICPA) withdrew their stand and told their members that they are free to sign new wage contracts offered by the new <keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata group</keyword> management of Air India. "As dedicated <keyword id="4746568" type="General" weightage="50" keywordseo="air-indians" source="Orion">Air Indians</keyword>, we believe it is crucial to express our readiness to settle the dispute at hand and find an amicable resolution for the benefit of both parties," the IPG and ICPA said in a joint letter to their members. The letter further read, "Over the past year, our attempts to reach a resolution have been hindered by a lack of cooperation from the management. Their unwillingness to address our concerns and apathetic attitude has resulted in a prolonged stalemate and escalating tensions." "Upon the assurances given in the online 'Townhall Meeting for Pilots' and in the interest of the aspirations of Air India, The <keyword id="8555" type="General" weightage="50" keywordseo="tata" source="Orion">Tata</keyword> Group and our passengers, the Joint Directive No.01 of 2023, Sub: Unilateral Changes in Policies stands withdrawn," the letter titled as 'Withdrawn of Joint Directive Np01 of 2023', added. The announcement came after a joint meeting held on Thursday, wherein the unions' members were told that they are free to sign the new wage contract. Last month, the Tata Group-owned airline announced a new salary structure for pilots and cabin crew but the staff was disappointed with the revisions. Their main grouse was about promoting captains with more than four years of experience in management. In a communication to all employees including pilots and crew members in April this year, Air India management had said that they announced the revision of their employment contracts and revised compensation for flying staff. "I am reaching directly to our flying staff through this platform as currently there is no recognized union at Air India. This is within the framework of law," said Air India Chief Human Resource Officer Suresh Tripathi, had said in a video message. The airline had said that the contract sent is a compilation of applicable policies and existing rules. Wherever there are differences, their changes are introduced to have a performance and merit-based culture as would be the ask of any world-class and professionally run airline. In the last one year, they have been hearing all the concerns of their flying community through various forums and constant communication, the Air India management said. "Guaranteed flying allowance has moved upwards from existing 20 hours to fixed 40 hours. With our ambitious growth and large aircraft order, we as an organisation are confident to provide you more and more opportunities for flying. The fact remains that at 70 hours of flying, income across the board has increased. We are a productivity-oriented organisation, and anyone who is ready to contribute will grow and prosper," the airline had said. "Our Trainers who would be investing more time in training as we ramp up, have been given a significant increase in pay in the form of both fixed and variable. There is more than 40 per cent increase in the allowance for trainers," it added. Air India said flying allowance rates are one of the highest in the Indian industry, with even higher amounts beyond 40 hours. There used to be a difference in flying rates in the same pilot rank which has been done away with to promote fairness. They have introduced additional compensation during training of command upgrade and conversion training which was not existing earlier. There was not any service reward existing to recognise the contribution of experienced staff. A fixed amount has been added to salaries. "These are all changes we have introduced for the better and to become market competitive, which was a key ask. We have also introduced best-in-class employee insurance and other benefits which were not existing earlier at Air India to support the welfare of our flying staff," the airline's management had said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-mauritian-minister-rejects-shell-company-allegations/articleshow/100164083.cms">Adani-Hindenburg row: Mauritian minister rejects shell company allegations</a> <a href="https://www.businessinsider.in/entertainment/news/ipl-2023-scores-over-1300-crore-video-views-on-jiocinema-in-the-first-five-weeks/articleshow/100155165.cms">IPL 2023 scores over 1,300 crore video views on JioCinema in the first five weeks</a> <a href="https://www.businessinsider.in/investment/news/investment-supertrends-2023-ai-to-digitalisation-and-green-energy/articleshow/100126382.cms">AI to digitalisation and green energy: Supertrends defining investment for today and the future</a>

Air India pilots' union withdraws opposition to new wage agreement

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

Meta-owned <keyword id="790242" type="General" weightage="100" keywordseo="Whatsapp" source="Orion">WhatsApp</keyword> is reportedly working on a feature that will restrict users from taking <keyword id="20118528" type="General" weightage="20" keywordseo="screenshots" source="keywords">screenshots</keyword> of <keyword id="20953406" type="General" weightage="20" keywordseo="profile-pictures" source="keywords">profile pictures</keyword> on iOS. As shown in the screenshot shared by <keyword id="19897013" type="General" weightage="20" keywordseo="WABetaInfo" source="keywords" meta.keywordsubtype="org" meta.entityname="WABetaInfo" meta.hostid="261" meta.entityid="WABetaInfo">WABetaInfo</keyword>, a message will occur on the screen notifying users that taking screenshots of profile photos has been blocked to protect everyone's privacy on the app. According to the report, this feature will offer an added layer of privacy protection by blocking users from capturing and sharing profile photos without the owner's consent. While people may still capture the image with other devices or cameras, blocking the screenshot feature within the app will definitely reduce the unauthorised sharing of profile photos, the report said. This <keyword id="21168499" type="General" weightage="20" keywordseo="WhatsApp-feature" source="keywords">WhatsApp feature</keyword> will be useful in reducing the risk of profile photos being misused or distributed without permission by stopping users from taking screenshots. A feature to block screenshots of profile pictures is under development and it will be available in a future update of the app, the report stated. Meanwhile, WhatsApp is reportedly testing a new feature that will offer users a dedicated "filter" to quickly get a list of their favourites from the chats tab on Android. With this new chat filter, users will get to easily access and prioritise specific conversations with their favourite contacts and groups.

WhatsApp working on feature that will restrict users from taking screenshots of profile pictures: Report

<ul class="summary-list"><li>Californian fast-food restaurants are cutting workers to prepare for the $20 minimum wage.</li><li>Pizza Hut franchisees plan to lay off around 1,200 workers, for example.</li></ul>Fast-food restaurants in California are laying off hundreds of workers to cut back on costs as they prepare for the state's <a target="_blank" href="https://www.businessinsider.com/california-20-dollar-fast-food-wage-restaurant-prices-jobs-workers-2024-3">$20 minimum wage for fast-food workers</a> that comes into force in April, a new report by <a target="_blank" href="https://www.wsj.com/business/hospitality/california-restaurants-cut-jobs-as-fast-food-wages-set-to-rise-eb5ddaaa?mod=business_lead_story">The Wall Street Journal</a> details.<a target="_blank" href="https://www.businessinsider.com/california-pizza-hut-lays-off-delivery-drivers-amid-new-wage-law-2023-12">Two franchisees for Pizza Hut</a>, with restaurants across various counties in California, have said they'd lay off around 1,200 workers as they scrap delivery-driver roles to rely on third-party delivery instead.Southern California Pizza Company, a Pizza Hut franchisee, said it planned to lay off nearly 850 workers in February, according to filings made under California's Worker Adjustment and Retraining Notification Act in December and viewed by Business Insider.In December, another Pizza Hut franchisee, PacPizza, and its affiliates filed plans to lay off more than 350 workers in February.And in February, Excalibur Pizza LLC, a Round Table Pizza franchisee, said it planned to lay off 70 workers in April, WARN Act filings show.Round Table Pizza, which has more than 400 locations in the US, mainly along the West Coast, told BI that the employees being laid off were delivery drivers and that Excalibur was moving to third-party delivery services. The company said it saw the layoffs as a "transfer of jobs," with more workers required at third-party delivery services instead."That said, delivery service fees may increase, and the customer will most likely see even higher prices as a result of this ongoing shift," Round Table Pizza's statement continued. "This is the reality of today's restaurants."One fast-food franchisee has even roped in his 73-year-old parents to help out after cutting staff. Alexander Johnson, who owns 10 Auntie Anne's and Cinnabon locations in California, told the Journal that the new law would have otherwise cost him an extra $470,000 in labor a year.<h2>Franchisees are worried about higher prices spooking diners</h2>California is raising the state's minimum wage for workers at limited-service restaurants to $20 an hour from April 1 — 25% higher than its general minimum wage.The law only applies to chains with at least 60 locations nationwide, though analysts note that it could lead to <a target="_blank" href="https://www.businessinsider.com/california-20-fast-food-wage-increase-pay-restaurants-retail-jobs-2024-3">wage hikes at other restaurants and workplaces</a> in the state as they try to compete for talent. The legislation — especially in its original form as the FAST Recovery Act — faced fierce opposition from the restaurant industry, with some chains saying it would drive up operating costs so high that they'd have to lay off workers and charge customers more.The franchisees generally set prices, and some are concerned that <a target="_blank" href="https://www.businessinsider.com/california-fast-food-minimum-wage-20-value-restaurants-diners-groceries-2024-2">higher prices could scare off diners</a>."I can't charge $20 for Happy Meals," Scott Rodrick, owner of 18 McDonald's restaurants in Northern California, told the Journal. He said that in the hunt to save money amid the wage increase, he was "leaving no stones unturned."Another <a target="_blank" href="https://www.businessinsider.com/mcdonalds-california-menu-could-become-unaffordable-to-cover-wage-hike-2024-3">McDonald's franchisee</a> who owns restaurants in Los Angeles County previously told KTLA 5 News that her food would become "unaffordable" if she raised prices enough to cover the wage increase.Brian Hom, the owner of two Vitality Bowl açaí bowl restaurants in San Jose, told the Journal he's raising menu prices by about 10% to cover the higher wages. He's also running his stores with two employees, down from four, which he said is slowing down order times."I'm definitely not going to hire anymore," Hom told the Journal.Vitality Bowls has taken "significant measures to optimize profitability," like changing its menu and improving its tech, CEO Roy Gilad told BI in a statement. The company is "well prepared" to offset higher costs, he said.Are you a fast-food worker who'll soon be getting the new minimum wage? Or a franchisee worried about how it will affect your business? Email this reporter at <a target="_blank" href="mailto:gdean@insider.com">gdean@insider.com</a>.

Fast-food restaurants in California are laying off workers to prepare for the $20 minimum wage hike

<ul class="summary-list"><li>Restaurant franchisees say they're the real losers of California's $20 fast-food minimum wage.</li><li>The wage applies to franchisees, even if they just own one or two restaurants.</li></ul>Franchisees say they have to bear the brunt of California's new <a target="_blank" href="https://www.businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4">$20 minimum wage for fast-food workers</a>."One of our biggest complaints is it's not so much that we're arguing what workers should make, it's that the reality is the bill for this legislation is on the backs of franchise owners," Keith Miller, who owns three Subway stores in northern California, told Business Insider.The legislation, AB 1228, applies to limited-service restaurant chains with at least 60 locations nationwide.Fast-food chains often stress the nature of their franchisees as small-business owners. But the $20 wage applies to both corporate-owned and franchise restaurants, even if the franchisee just owns one or two restaurants."We're a small business," Brian Hom, who owns two branches of Vitality Bowls — a smoothie and Acai bowl chain with around 70 stores nationwide — told Business Insider.Hom, whose stores are in San Jose, California, said that he ran the stores with his wife, two sons, and daughter-in-law. "We're not people who are a corporation."Franchisees have been <a target="_blank" href="https://www.businessinsider.com/california-mcdonalds-fast-food-20-minimum-wage-franchisee-cutting-costs-2024-4">raising their menu prices</a> and exploring ways to <a target="_blank" href="https://www.businessinsider.com/fast-food-california-layoffs-less-staff-to-cover-wage-hike-2024-4">cut costs</a> to offset the impact of the $20-an-hour minimum wage, such as <a target="_blank" href="https://www.businessinsider.com/california-fast-food-minimum-wage-order-kiosks-burger-king-popeyes-2024-4">introducing more technology</a> and <a target="_blank" href="https://www.businessinsider.com/fast-food-operator-kills-vacations-hikes-prices-calif-wage-law-2024-1">dropping staff benefits</a>. Some franchisees say it's easier for company-owned stores to absorb the impacts of the legislation."I definitely know that corporate stores have a deeper pocket," Hom said. "We don't have a large profit margin … We're not a corporate store that has maybe some ways they can cut costs."Hom said that he had put up prices, stopped hiring, and reduced the number of workers on each shift to increase his revenues and reduce his costs over the new $20 wage. Miller, the Subway franchisee, said he'd raised his prices, too."I think what people keep forgetting is the fact that they keep seeing McDonald's Corporation or these public corporations making record profits, that doesn't mean the franchise operators are making record profits," Miller said.Mike Mangoine bought his first McDonald's restaurant with his father in 1967, <a target="_blank" href="https://www.latimes.com/california/newsletter/2024-04-04/fast-food-workers-franchise-owners-and-customers-brace-for-californias-minimum-wage-jump-essential-california">The Los Angeles Times</a> reported. Now he owns 19 around Los Angeles and California's Inland Empire area."It's not just this giant corporation that runs things," Jessica D'Ambre, his daughter who manages the restaurants with him, told The Times. "I think that's where the misconception lies, especially with politicians." She added that the new $20 wage felt like an "unfair target on our backs.""We run it like any other family business," D'Ambre said.Matthew Haller, the president and CEO of the International Franchise Association, told BI in a statement that the legislation would lead to "many small businesses struggling to keep their doors open."<h2>'Franchise operators keep getting squeezed more and more'</h2>The costs of being a franchisee vary drastically by chain, location, and the size of the restaurant. To become a Subway franchisee in the US, people generally need to have a <a target="_blank" href="https://www.subwayfranchise.com/en-us/faqs">$150,000</a> net worth per restaurant, with $100,000 in liquid assets. For both <a target="_blank" href="https://www.wendys.com/franchising/franchise-faqs#:~:text=Does%20it%20include%20start%2Dup,a%20term%20of%2020%20years.">Wendy's</a> and <a target="_blank" href="https://franchising.bk.com/franchise-fee">Burger King</a>, wannabe franchisees need a total net worth of <a target="_blank" href="https://franchising.bk.com/franchise-fee">at least $1 million</a>, including at least $500,000 in liquid assets.As well as real-estate and initial development costs, franchisees have to pay a proportion of their sales to their franchisor as royalty and advertising fees.Earnings can vary greatly, too: Chick-fil-A's average unit volumes — the total sales per restaurant — were $7.5 million last year, compared to $3.7 million for McDonald's and $1.9 million for Taco Bell, <a target="_blank" rel=" nofollow" href="https://www.restaurantbusinessonline.com/financing/chick-fil-unit-volumes-stand-alone-restaurants-hit-9m-last-year">according</a> to data from foodservice-industry group Technomic. This is before deducting any costs including labor, food, and fees.Franchisees are a major part of the fast-food business — they reduce risk for chains and enable them to explore new markets. At McDonald's, <a target="_blank" rel=" nofollow" href="https://www.mcdonalds.com/content/dam/sites/usa/nfl/documents/franchising/Your_Path_to_Becoming_a_McDonalds_Franchisee.pdf">95% of its US restaurants are franchised</a>.Some franchise companies own hundreds of restaurants. Miller said policies such as the new $20 minimum wage would push small franchise owners out of the industry."Franchise operators keep getting squeezed more and more," Miller said, referring to the introduction of new fees by restaurant chains."You're not going to have people who own one to three stores anymore," he said. "You're going to have to have the mega owners as they're called, or 20 stores, a hundred stores, 500 outlets. And they're not really operators, they're investors at that point because they're not going in and running the store."Are you a fast-food worker excited about the new minimum wage? Or a franchisee or restaurant manager worried about how it will affect your business? Email this reporter at <a target="_blank" href="mailto:gdean@insider.com">gdean@insider.com</a>.

Franchisees say it's them, not big corporations, who are the real losers of California's $20 fast-food wage

<ul class="summary-list"><li>Two years into the war in Ukraine, Russia's economy still appears resilient.</li><li>While wartime activities have supported the economy, Russia also entered the war in a sound economic position.</li></ul>Russia's wartime economy is <a target="_blank" href="https://www.businessinsider.com/russia-war-economy-government-boom-crash-sanctions-ukraine-invasion-2023-8">booming.</a>That may sound counterintuitive, but headline GDP growth is <a target="_blank" href="https://www.barrons.com/articles/war-economy-history-lessons-51660776913">not unusual</a> in times of conflict.While there are doubts over the accuracy and completeness of the rosy economic data Russia has released over the past two years, Moscow looks poised to continue funding its war for a third year — and <a target="_blank" href="https://www.allianz.com/en/economic_research/publications/specials_fmo/economy-conflict-war.html">wars are expensive.</a>"From a purely economic standpoint, Russia has considerable room to continue waging war," Hassan Malik, a global macro strategist and Russia expert at Boston-based investment management firm Loomis Sayles, told Business Insider.After all, Russia has been <a target="_blank" href="https://www.businessinsider.com/russia-putin-preparing-west-sanctions-decade-since-ukraine-crimea-annexation-2022-6">sanction-proofing itself</a> since 2014, when it was hit with a raft of trade restrictions after <a target="_blank" rel="" href="https://www.businessinsider.com/how-russia-took-crimea-2015-3">it illegally annexed Crimea</a> from Ukraine. On top of that, it's still supported by revenues from its oil sales.Here's how Russia has managed to keep its economy strong even after two years of waging war.<h2>No. 1: By waging war outside its own borders</h2>One critical reason Russia's economy is still ticking is because of the location of the war."The war is being fought largely on Ukrainian land, and destroying largely Ukrainian homes, businesses, and farms such that the direct impact on Russian productive capacity and households has been comparatively limited," said Malik.Consider the impact of the war on the economies of both Russia and Ukraine.In 2022, the first year of the war, <a target="_blank" href="https://www.reuters.com/markets/europe/russian-economy-shrank-by-12-2022-less-than-previously-thought-stats-service-2023-12-29/">Russia's economy contracted 1.2%, </a>according to official statistics. Analysts polled by Reuters expect Russia's GDP to have risen 3.1% in 2023. Russia has not yet released its full-year GDP growth for 2023.In comparison, <a target="_blank" href="https://www.reuters.com/markets/europe/ukraine-gdp-rebound-2023-inflation-fall-eu-commission-2023-11-15/">Ukraine's GDP</a> plunged 29.1% in 2022 and the country's <a target="_blank" href="https://bank.gov.ua/en/news/all/inflyatsiya-zalishitsya-pomirnoyu-a-ekonomika-i-dali-vidnovlyuvatimetsya--inflyatsiyniy-zvit-nbu">central bank forecast</a> the country to have grown 4.9% in 2023. It has not released official growth figures.In a scenario where a war is not fought on your home turf, war can act as a major demand shock, particularly for war supplies and manpower, Malik explained. That's what happened in Russia: The war boosted the economy.<h2>No 2: By generating a demand for wartime goods and services</h2>Then, there's the demand for the goods and services that keep a war running.Russia's military needs physical supplies — things like weapons, ammunition, and bandages. The demand boosts the industries that produce those goods — especially domestically, since imports into Russia are restricted due to sanctions.The demand for military goods is so intense that even a <a target="_blank" href="https://www.ft.com/content/426a82ec-9344-4700-9b22-181caeed8c3a">bakery in central Russia</a> has been roped in to aid war efforts.The shop — which showed off its <a target="_blank" href="https://www.themoscowtimes.com/2023/10/16/new-video-shows-russian-drone-bakery-a82780">freshly produced drones next to just-baked bread</a> on Russian TV — is now <a target="_blank" href="https://ofac.treasury.gov/recent-actions/20231212">sanctioned by the US</a>.Fighting a war also requires manpower.Russia was facing a <a target="_blank" href="https://www.economist.com/europe/2023/03/04/russias-population-nightmare-is-going-to-get-even-worse">demographic crisis</a> with a declining population and <a target="_blank" href="https://www.statista.com/statistics/271341/fertility-rate-in-russia/">falling fertility rate</a> even before its war with Ukraine. With the onset of the war, nearly <a target="_blank" href="https://www.businessinsider.com/russian-economy-brain-drain-labor-shortage-workforce-exodus-capital-flight-2023-9">1 million Russians</a> — including draft-age men — have fled their homeland, shrinking the country's labor pool even further.Russian President Vladimir Putin's mobilization of men for the war created a labor crunch that has persisted since 2022.Last year, Russia faced a <a target="_blank" href="https://www.businessinsider.com/russia-lacks-workers-ukraine-war-labor-crisis-worker-shortage-2023-12">shortage of 5 million </a>workers as workforce vacancies rose nearly 5% from a year ago. In November, Russia posted a record-low unemployment rate of 2.9%.Thanks to the manpower shortage, <a target="_blank" href="https://www.reuters.com/markets/europe/double-digit-growth-real-wages-retail-sales-russias-unemployment-hits-record-low-2023-08-02/">wages have risen</a> — in turn supporting consumption and economic growth.<h2>No. 3: By being self-reliant in weapons and commodity production</h2>Russia is a major global economy — the <a target="_blank" href="https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true">world's eighth-largest</a> in 2022 — in part due to its strong position as a producer of commodities like oil, natural gas, wheat, and metals.However, unlike many countries, Russia is also self-sufficient in producing critical commodities like oil, natural gas, and wheat, which has helped it weather years of sanctions."While Western sanctions and trade restrictions have undoubtedly had some marginal impact on the Russian economy, the impact is particularly limited in a largely autarkic Russian defense industry," said Malik, referring to an economy based on self-sufficiency and limited external trade.As one of the <a target="_blank" href="https://www.statista.com/chart/18417/global-weapons-exports/">world's top arms exporters,</a> Russia can also supply itself with most of its defense needs, even for sophisticated weapons, said Malik.This, alongside measures Russia has imposed to boost its economy — including <a target="_blank" href="https://www.businessinsider.com/apple-exited-russia-iphone-14-preorders-2022-9">parallel imports</a>, pivoting to <a target="_blank" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">alternative export markets </a>such as China and India, and <a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/newsletters/2023-10-03/supply-chain-latest-china-and-russia-trade-volumes-increase">new supply chains</a> — further dilute the impact of Western sanctions on the Russian defense industry and wartime economy, he added.<h2>No. 4: By stimulating and steadying its economy with subsidies and policies</h2>Government subsidies, spending, and policies are also propping up Russia's economy.Moscow's attempt to prop up its wartime economy has been so aggressive that subsidies for discounted mortgages have created a <a target="_blank" href="https://www.businessinsider.com/russia-ukraine-war-economy-housing-bubble-mortgages-rates-inflation-debt-2023-12">housing bubble.</a>The Russian government has rolled out other types of subsidized loans for <a target="_blank" href="https://www.flightglobal.com/air-transport/russian-government-prolongs-loan-subsidy-scheme-for-lessors-taking-domestic-aircraft/150137.article">businesses,</a> further stimulating demand in the economy.Russian policymakers also stepped in quickly to steady the market and economy after Moscow invaded Ukraine. They took steps including shutting the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/russia-stock-market-closed-bonds-default-sovereign-debt-deadline-2022-3">Moscow Exchange</a> for weeks, imposing <a target="_blank" href="https://markets.businessinsider.com/news/currencies/russian-central-bank-money-transfer-restrictions-war-ukraine-currency-ruble-2022-4">capital controls,</a> and managing <a target="_blank" href="https://markets.businessinsider.com/news/currencies/russia-central-bank-cuts-interest-rates-ruble-currency-sanctions-ukraine-2022-5">monetary policy.</a>"That was done reasonably quickly. A lot of Russian financial instruments were immobilized," said <a target="_blank" href="https://daviscenter.fas.harvard.edu/insights/russias-economy-war-ukraine-and-hopes-post-putin-liberalization">Sergei Guriev,</a> a former chief economist at the European Bank for Reconstruction and Development, at a talk last month.<h2>No. 5: By keeping external debt low and exports strong</h2>Russia entered the war with little external debt and its current account has been in surplus thanks in part to the war's impact on commodity prices."Such developments heavily compensated for Western moves such as the freezing of the <a target="_blank" href="https://www.businessinsider.com/russia-fm-freezing-currency-reserves-was-thievery-unexpected-2022-3">central bank's reserves,</a>" Malik said.Russia managed to allocate nearly one-third of its <a target="_blank" rel=" nofollow" href="https://www.reuters.com/world/europe/everything-front-russia-allots-third-2024-spending-defence-2023-10-02/">2024 budget</a> to defense spending, despite all the sanctions it's been hit with.Malik isn't the only one who thinks Russia has room to run its war for longer.Over the past year, experts including a former Russian deputy finance ministry in self-exile and several economists have all said Russia has the <a target="_blank" href="https://www.russiamatters.org/blog/russias-money-ukraine-war-wont-run-out-anytime-soon-economists-say">money to fund its war</a> in Ukraine for a few years.Alex Isakov, an economist at <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-17/war-in-ukraine-drains-nearly-half-of-accessible-russian-reserves">Bloomberg Economics,</a> said in a report on January 17 that Russia's national wealth fund's liquid assets will last for another year or two if the country's oil export prices fall below $50 a barrel.The average price of Russia's flagship <a target="_blank" href="https://tass.com/economy/1730001">Urals crude</a> oil was about $63 a barrel in 2023.<h2>Even so, Putin is caught in an economic 'trilemma'</h2>While Russia has managed to avoid <a target="_blank" href="https://www.businessinsider.com/how-western-sanctions-affecting-russian-economy-ukraine-central-bank-putin-2022-2">economic catastrophe</a> after invading Ukraine in 2022 and incurring sweeping Western sanctions, it doesn't mean all is well on Putin's home turf.Despite the boom, Putin is trying to solve an economic <a target="_blank" rel="" href="https://www.businessinsider.com/russia-economy-putin-solve-trilemma-wartime-economy-gdp-prokopenko-2023-12">"trilemma"</a> a former Russian central bank official said recently."His challenges are threefold: he must fund his ongoing war against Ukraine, maintain his populace's living standards, and safeguard macroeconomic stability," Alexandra Prokopenko wrote about Putin in <a target="_blank" href="https://www.foreignaffairs.com/russian-federation/putins-unsustainable-spending-spree">Foreign Policy</a> in January."Achieving the first and second goals will require higher spending, which will fuel inflation and thus prevent the achievement of the third goal," she added.Putin already had to <a target="_blank" href="https://www.businessinsider.com/putin-apologizes-for-egg-prices-as-russian-inflation-soars-2023-12">personally apologize</a> for the price of eggs in Russia, which soared 42% in the 12 months prior to November 2023, according to data from the country's statistics agency <a target="_blank" rel="noopener nofollow" href="https://eng.rosstat.gov.ru/">Rosstat</a>.After all, rosy GDP figures alone are not a good measure of economic performance during wartime, said Guriev."You produce weapons and munitions, you pay for them from the budget, but these weapons and munitions don't contribute to quality of life, don't contribute to future economic growth," said Guriev. "They are shipped to Ukraine, where they are destroyed."Russia's contribution from the war is boosting its economy so much that there's risk of stagnation — or even an "outright crisis" — once the conflict is over, according to a January report from the <a target="_blank" href="https://wiiw.ac.at/the-russian-economy-amidst-the-war-and-sanctions-dlp-6727.pdf">Vienna Institute for International Economic Studies.</a>"The longer the war lasts, the more addicted the economy will become to military spending," wrote economists at the Austrian think tank.

How Russia has avoided bankrupting itself after 2 years of waging war in Ukraine

<ul class="summary-list"><li>An exec said the chain would "definitely" pass the costs of higher wages in California to customers.</li><li>A new bill will raise wages to $20 an hour in April. Chipotle separately raised menu prices by 3%.</li></ul><a target="_blank" href="https://www.businessinsider.com/chipotle-pre-workers-start-early-6-prep-food-kitchen-chop-2023-10?r=US&amp;IR=T">Chipotle</a> execs have said the burrito chain will "definitely" pass on the costs of California's new fast-food minimum wage to customers by raising menu prices, even after the company posted impressive third-quarter results.Minimum wages for fast-food workers in the state will increase to $20 an hour in April 2024 under a new law that Governor Gavin Newsom signed. California's current minimum wage is <a target="_blank" href="https://www.dir.ca.gov/dlse/FAQ_MinimumWage.htm">$15.50</a> and is set to rise to <a target="_blank" href="https://www.dir.ca.gov/DIRNews/2023/2023-66.html">$16</a> in January — more than double the federal minimum wage of <a target="_blank" href="https://www.dol.gov/general/topic/wages/minimumwage">$7.25</a>.Chipotle execs said during the company's earnings call on Thursday that it had recently <a target="_blank" href="https://www.businessinsider.com/chipotle-mexican-grill-prices-are-rising-menu-increase-2023-10">raised menu prices</a> by 3%. It was the fifth menu-price increase the chain has made since June 2021.Jack Hartung, the chief financial and administrative officer at Chipotle, told investors that this month's hike "does not consider any part of the California wages that'll happen next year.""It's going to be a pretty significant increase to our labor," Hartung said, noting that the chain's average wage in California is about $17 an hour."We haven't made a decision on exactly what level of pricing we're going to take," he continued. "It's going to be a mid-to-high single-digit price increase, but we are definitely going to pass this on. We just haven't made a final decision as to what level yet."Erin Wolford, a spokesperson for the company, told Insider after the call that Chipotle hasn't decided yet on the increase but that it would just be in California."We are studying it and we anticipate we would need to increase prices mid-to-high single digits, (ie mid is 4-5-6% and high is 7-8-9%), and that means prices will be that much higher as a %," she told Insider.Chipotle has <a target="_blank" href="https://locations.chipotle.com/">457</a> restaurants in California, which Hartung said makes up about 15% of the chain's total store count, though it appears to be slightly less than this based on the company's stated restaurant count of more than 3,300 locations.Chipotle posted impressive results on Thursday. It said that total revenue in the quarter to September 30 increased by 11.3% to $2.5 billion, which it attributed to new restaurant openings and a 5% jump in comparable sales, the latter of which it said came from increases in both transaction volume and average check size. The company posted a 21.8% jump in net income.The fast-food-wage legislation replaces the <a target="_blank" href="https://www.businessinsider.com/gavin-newsom-fast-food-bill-raise-minimum-wage-workers-2022-9">FAST Recovery Act</a> that Newsom signed into law last September, but still includes the creation of a fast-food council made up of both employers and workers.Under the replacement act, <a target="_blank" href="https://www.businessinsider.com/panera-bread-workers-exempt-from-california-fast-food-pay-increase-2023-9">AB 1228</a>, the council will be able to increase the minimum fast-food wages in the state by up to 3.5% annually, depending on the Consumer Price Index, a federal measure of inflation.Chipotle <a target="_blank" href="https://newsroom.chipotle.com/2023-10-26-CHIPOTLE-ANNOUNCES-THIRD-QUARTER-2023-RESULTS">noted</a> in its earnings release that its results could be affected by "increasing wage inflation and the competitive labor market, including as a result of regulations such as California AB 1228."Chipotle, which has <a target="_blank" href="https://newsroom.chipotle.com/2023-10-26-CHIPOTLE-ANNOUNCES-THIRD-QUARTER-2023-RESULTS">more than 110,000 employees</a>, spent <a target="_blank" href="https://newsroom.chipotle.com/2023-10-26-CHIPOTLE-ANNOUNCES-THIRD-QUARTER-2023-RESULTS">$616.3 million</a> on labor globally in the quarter to September 30, an increase of <a target="_blank" href="https://newsroom.chipotle.com/2021-10-21-Chipotle-Announces-Third-Quarter-2021-Results">more than 50%</a> from the same period in 2020, not accounting for inflation.Update October 27, 2023: This story has been updated with comment from Chipotle.

Chipotle says it's going to hike prices to help pay for new $20 per hour wage hike for workers in California

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

You Searched For "india new wage definition" and got 12 results

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India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

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Fast-food restaurants in California are laying off workers to prepare for the $20 minimum wage hike

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Chipotle says it's going to hike prices to help pay for new $20 per hour wage hike for workers in California

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