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<ul class="summary-list"><li>The man who was charged after riding in the back of a driverless <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> is an Instagram wealth troll.</li><li><keyword id="3791670" type="PERSON" weightage="60" keywordseo="param-sharma">Param Sharma</keyword> has built a following from flaunting luxury items while trash-talking.</li><li>After getting out of jail, he arrived for an interview in the back seat of a new Tesla.</li></ul>The 25-year-old man <a href="https://www.businessinsider.com/tesla-fsd-back-seat-driving-stunt-arrested-buys-new-car-2021-5">arrested after riding in the back seat of a Tesla Model 3</a> while it semiautonomously drove on the highway is a notorious Instagram wealth troll.Param Sharma regularly posts selfies with stacks of $100 bills and photos from the cockpit of half-million-dollar Lamborghinis. His account is like a young ultrawealthy elite <a href="https://www.reddit.com/r/starterpacks/">Reddit "starter pack."</a>"I have unlimited money to blow on Teslas," he told the <a href="https://www.businessinsider.com/tesla-fsd-back-seat-driving-stunt-arrested-buys-new-car-2021-5">San Francisco Fox affiliate KTVU</a> after the incident. "If you take away my Tesla, I will get another Tesla. That's how it works."Param Sharma, who goes by "itslavishb----" <a href="https://www.instagram.com/goldcollarlavish/">on Instagram</a>, is famous for these kinds of outlandish statements. It's all part of what he calls a "persona" created "for entertainment purposes only," <a href="https://www.linkedin.com/in/sharmaparam/">according to his LinkedIn page</a>.He's been doing it for years, going back to 2013, when he trolled several celebrities.<div type="image" title="Param Sharma, Instagram" height="966" width="1813" msid="82639012" hostid="261"></div>"People feed off the crazy things I do, like pooping in sparkling water," <a href="https://www.vice.com/en/article/7begyz/its-lavish-bitch-the-internets-celebrity-bashing-brat-king">Sharma told Vice in 2013</a>. "I'm using wealth as comedy."<a href="https://www.instagram.com/p/BjZpy8zne7N/">One Instagram post features</a> a handful of gold-colored staples. In <a href="https://www.instagram.com/p/Bjg1__CHCYm/">another</a>, what appears to be two stacks of $100 bills wrapped in plastic are stuffed in his mouth. The caption says: "Mama always told me to eat my greens b----."While it's possible that Sharma is very wealthy, it's clear that he's intentionally playing a character: a wealthy troll who flaunts luxury items and mocks "blue-collar peasants" (people who aren't rich).What's not funny is how dangerous it is to ride in the back seat of a moving car with no one behind the wheel, which is why the <keyword id="191527" type="ORGANIZATION" weightage="60" keywordseo="California-Highway-Patrol">California Highway Patrol</keyword> arrested Sharma earlier this week, charged him with two counts of reckless driving, and impounded his car.<div type="image" title="California Highway Patrol pulls over a Tesla." height="1080" width="1440" msid="82639014" hostid="261"></div>While Tesla sells a "Full Self-Driving" package for its cars, <a href="https://www.businessinsider.com/tesla-crash-elon-musk-autopilot-safety-data-flaws-experts-nhtsa-2021-4">the name is deceptive</a>: It's a semiautonomous system that still requires a person in the driver's seat paying attention.The $10,000 feature enables Tesla's cars to change lanes, get on and off the highway, and recognize stop signs and traffic lights. It is unable to adapt to changing conditions, and Consumer Reports said the system performed inconsistently in testing."Most features within Tesla's Full Self-Driving Capability suite worked inconsistently," <a href="https://www.consumerreports.org/autonomous-driving/tesla-full-self-driving-capability-review-falls-short-of-its-name/">Consumer Reports wrote in October</a>. "At times, it also drove through stop signs, slammed on the brakes for yield signs even when the merge was clear, and stopped at every exit while going around a traffic circle."In Tesla's messaging, the carmaker tells users of the Full Self-Driving feature to "not become complacent." The system "may do the wrong thing at the worst time," the disclaimer says, "so you must always keep your hands on the wheel and pay extra attention to the road."After being released from jail this week, Sharma arrived for an interview in what appeared to be a new Tesla Model 3, which he conducted from the back seat.When asked if the car was new, he answered in character: "Yeah, I'm rich as f---. I'm very rich."Tesla did not respond to a request for comment from Insider. Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>) or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a nonwork device to reach out. PR pitches by email only, please.

The man arrested after repeatedly misusing Tesla's Autopilot is a notorious Instagram wealth troll

The Bombay High Court on Monday refused to grant bail to former policeman Pradeep <keyword id="445" type="General" weightage="100" keywordseo="sharma" source="Orion">Sharma</keyword>, who is arrested in connection with the <keyword id="448875" type="General" weightage="80" keywordseo="antilia" source="Orion">Antilia</keyword> bomb scare case and for the killing of businessman Mansukh Hiran. A division bench of Justices Revati Mohite Dere and R N Laddha said it was dismissing Sharma's appeal challenging a special court order rejecting his bail plea. Sharma had approached the high court last year challenging a February 2022 order of a special NIA court rejecting his bail plea. The National Investigation Agency (NIA) has alleged that Sharma had helped his former colleague <keyword id="1006310" type="General" weightage="50" keywordseo="sachin-waze" source="Orion">Sachin Waze</keyword> to eliminate Hiran. On February 25, 2021, an explosives-laden SUV was found near industrialist <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>'s residence 'Antilia' in south Mumbai. Businessman Hiran, who was in possession of the SUV, was found dead in a creek in neighbouring Thane on March 5 last year. Sharma was arrested in the case in June 2021 and is presently in judicial custody. While the former policeman claimed there was no evidence against him, the NIA has alleged that he was a main conspirator in the "cold-blooded murder" of Hiran, who was considered a weak link in the larger conspiracy of terrorising the Ambani family. "Pradeep Sharma was an active member of a gang that had conspired to terrorise people, including the Ambani family, and murdered Mansukh Hiran as he was a weak link in the conspiracy," the NIA had said. The probe agency claimed that Hiran was aware of the whole conspiracy (parking of explosive-laden vehicle outside Antilia) and the accused (Sharma and <keyword id="1409950" type="General" weightage="50" keywordseo="waze" source="Orion">Waze</keyword>) apprehended that he (Hiran) would "spill the beans", which would then make it difficult for Sharma and Waze to continue to "yield the fruits" of the larger conspiracy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/tricolour-was-hoisted-first-in-andaman-says-pm-modi-as-he-names-21-islands-after-param-vir-chakra-awardees/articleshow/97252114.cms">Tricolour was hoisted first in Andaman says PM Modi as he names 21 islands after Param Vir Chakra awardees</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/full-dress-rehearsal-of-republic-day-parade-held/articleshow/97251791.cms">Full dress rehearsal of Republic Day Parade held</a>

Former encounter cop Pradeep Sharma denied bail in Antilia bomb scare case

Editor's Note: Further research has found this story to contain factual inaccuracies. Business Insider India retracts the story and we apologize to our readers. 
	
	<div type="image" msid="55115024" hostid="261"></div> He flushes expensive champagne down the toilet, rifles through dollar bills and calls common people “peasants”. Meet <keyword id="3791670" type="UNKNOWN" weightage="100" keywordseo="param-sharma">Param Sharma</keyword>, who is one of the richest and the <keyword id="3791669" type="UNKNOWN" weightage="20" keywordseo="most-hated-kid-on-instagram">most hated kid on Instagram</keyword>. 
 
Sharma is an Indian, who is based in San Francisco and is well-known by his Instagram handle @itslavishbitch. 
 He flaunts expensive cars, Rolex watches, expensive desserts, brands. His dog also has a <keyword id="5940" type="PERSON" weightage="20" keywordseo="Louis-Vuitton">Louis Vuitton</keyword> blanket. 
 
He earned the tag of the “most notorious” and “Instagram’s Most Hated Teenager” and “Instagram’s Biggest Jerk” as he displays his wealth in the most obnoxious manner. 
 
Well, this tag can somewhat be justified after he called Kim Kardashian a peasant! 
 
His Instagram handle is flooded with his pictures of eating at the finest hotels with jaw-dropping backgrounds. 
 
If you check out the @itslavishbitch page-it reads “Lavish My life is like Louis Vuitton everyone wants it. -- U made ur bed so sleep in it peasants -- 20, San Francisco Livin”- and he has 3, 62,000 followers. 
 
He also has a habit of throwing money around and has hosted several competitions in the past with huge cash prizes, as big as $100,000. 
Once he told the Vice Magazine: "When you take out large sums of money from your bank account they're generally newly minted. You'll notice the serial numbers are ordered." 
 
That is some attitude! Check out his pictures here 
 
 
<blockquote class="instagram-media" data-instgrm-captioned="" data-instgrm-version="7" style=" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
	
		
			
				 
		
		
			<a href="https://www.instagram.com/p/0rer03D-LC/" target="_blank">Brought the Royce out to Vegas to flex on the servants to society with @mazivs outside the mansion we doin it out here @souljaboy u blocked me on Instagram cause u can't handle the swag @lavishyabitch</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2015-03-26T05:34:59+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Mar 25, 2015 at 10:34pm PDT</time>
	
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			<a href="https://www.instagram.com/p/dhuqbRj-PS/" target="_blank">I'm Lavish P. someone you will never be #lavish 👌👌</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-08-27T18:40:08+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Aug 27, 2013 at 11:40am PDT</time>
	
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			<a href="https://www.instagram.com/p/cFCuRlj-E0/" target="_blank">My dog is better than the peasents #louisdog</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-07-22T18:46:03+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jul 22, 2013 at 11:46am PDT</time>
	
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			<a href="https://www.instagram.com/p/aKLOSVj-F0/" target="_blank">My 60K+ watch in its original packaging as requested by the almighty peasant himself @souljaboy refer to my twitter if you are clueless (@itslavishbitch)</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-06-05T01:33:45+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jun 4, 2013 at 6:33pm PDT</time>
	
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			<a href="https://www.instagram.com/p/ZwwmeJj-F3/" target="_blank">My allowance was small today since I forgot to tell the maid to clean my room.</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-05-26T04:40:06+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			May 25, 2013 at 9:40pm PDT</time>
	
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			<a href="https://www.instagram.com/p/UpsjC7j-KX/" target="_blank">Only take shits in sparkling water hoe</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-01-19T04:13:02+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jan 18, 2013 at 8:13pm PST</time>
	
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			<a href="https://www.instagram.com/p/UhudHSj-P8/" target="_blank">It's Lavish Bitch .</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-01-16T01:55:46+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jan 15, 2013 at 5:55pm PST</time>
	
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			<a href="https://www.instagram.com/p/Ue2hXJD-Lp/" target="_blank">If it ain't foreign it's borin hoe</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-01-14T23:08:32+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jan 14, 2013 at 3:08pm PST</time>
	
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			<a href="https://www.instagram.com/p/UZiDx7j-KQ/" target="_blank">Tryna keep up nigga you goin broke. 💵💵💵</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-01-12T21:33:32+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jan 12, 2013 at 1:33pm PST</time>
	
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			<a href="https://www.instagram.com/p/UUBciqj-Ig/" target="_blank">Hermes ring hoe</a> 
		
			A photo posted by Lavish (@itslavishbitch) on 
		<time datetime="2013-01-10T18:12:21+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">
			Jan 10, 2013 at 10:12am PST</time>
	
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He is the richest guy on Instagram and most hated too! Meet Param Sharma, who swims through dollar bills, bites gold

<ul><li>Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>.</li><li>Part of the sell-off in <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> could also be a reflection of the market mood.</li><li>But, there is a lot more that the street is worried about.</li><li>Founder <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> wants the market to be excited about Paytm as a superapp but many others have argued that a smartphone itself is a super app.</li><li>Check out the latest news and updates on<a href="https://www.businessinsider.in/stock-market"> Business Insider</a>.</li></ul>Two of India’s most-awaited tech IPOs, that of Zomato and Paytm, came with a lot of anxiety around the price at which the shares were being sold to the first lot of public investors. Zomato still made some money for those who got the shares in the initial public offering (IPO) but those who got shares in the Paytm IPO have lost 27% on the opening day. By noon, Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant Paytm. The overall market mood played a role in pushing down Paytm’s share price, Deven Choksey, managing director of KR Choksey Shares and Securities, told Business Insider. The sell-off seen earlier in the week intensified on Thursday (the day of Paytm’s market Debut) and 42 out of the Nifty 50 stocks were in the red. But that’s not the only reason why people sold Paytm shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation pre-IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valution sought in IPO</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap, as on November 18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.1 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,21,731 crore ($16.3 billion) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$19.9 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,399 crore ($13.6 billion) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Companies, BSE It’s not that Paytm's advisors didn't see it coming. According to a Bloomberg report <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms">published in October</a>, Paytm was advised to go for a lower valuation than $20 billion in its pre-IPO round but the company decided to skip the round altogether. Even stock brokerage firm Macquarie had given Paytm a with an underperform rating, and projected that the stock may fall to as much as ₹1,200 (compared to an issue price of ₹2,150) any time in the next one year . Interestingly, Paytm was the highest valued Indian startup between 2019 to me this year. The company got a valuation of $19.9 billion in its public issue. The only smile that Paytm believers could steal was thanks to the meme fest on Twitter. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778007" hostid="261"></div> The drop in Paytm’s share price led to a fall of the stock market. “Today’s fall in the market is also largely due to collateral damage, Paytm loss to investors,” Deven Choksey, managing director of KRChoksey Shares and Securities said. Manoj Dalmia, founder and director of Proficient Equities Private Limited also highlighted three reasons behind Paytm’s weak listing on the stock exchange. The issue ranges from high valuation to intense competition. These are some of the issues pointed out by Manoj Dalmia of Proficient Equities, Scenes by Avalon’s Shashank Udupa, TaxationHelp.in’s Neha Nagar <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reason </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overvaluation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company is overvalued at a Price to Sales (P/S) value of 26 compared to its global peers, who have a P/S of 0.3-0.5 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Limited promoters in India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nearly 75% of the promoters of Paytm are from other countries and are selling shares worth ₹10,000 crore, which is more than 50% of the issue. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not a market leader </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm is not a market leader in any business it operates in. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falling grey market premium and Macquarie's downrating has pushed the stock into a downward momentum. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lack of focused business model </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It is present in all over the Fintech space but not doing well in any of them while the competition is rising from players like Google, Amazon, PhonePe. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Dalmia is not alone in his pessimism around Paytm’s near-term prospects. “Dabbling in multiple business lines inhibits PayTM from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. Competition and regulation will drive down unit economics and/or growth prospects in the medium term in our view,” Macquarie Research analysts Suresh Ganapathy and Param Subramanian said. ALSO WATCH: Even the biggest of conglomerates find it difficult to do more than two things right, market expert Saurabh Mukherjea told Business Insider. <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div> Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.The company has 333 million total customers, 114 million annual transacting users and 21 million registered merchants. Paytm has a strong market share in digital payments via the unified payments interface (UPI) but the margin is zero in peer-to-peer payments and wafer thin when merchants get paid. In the personal finance space ⁠— where Paytm sells mutual funds, gold and stocks ⁠— it has a less than 1% market share and makes zero commission, according to Macquarie. In insurance, only one out of 100 policies are sold online and Paytm is pitted against an early bird like Policybazaar as well as legacy banks, which dominate the space. Paytm aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie, which pegged the potential market for buy now, pay later schemes to be anywhere between $45 billion and $50 billion by March 2026. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778072" hostid="261"></div> Despite a massive user base, the company’s revenue has been marginally declining on a year-on-year (YoY) basis. The company reported a revenue of ₹3,186 crore, with net loss of ₹1,761 crore. “Loss-making businesses will find it hard to sustain premium valuations,” Choksey added. Ravi Singh, head of research and vice president at ShareIndia, noted that Paytm’s future growth is a key to watch for long term investors. “We advise the investors after looking at the overall valuations and earlier losses of Paytm, to book their positions and wait for 1700-1600 levels for fresh investment. Retail investors may remain cautious as the overall market is in profit booking zone pushing maximum stocks in downside territory,” he added. <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778081" hostid="261"></div> “People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” founder and chief executive officer Vijay Shekhar Sharma. He wanted India to be as excited about his dream of a super app for anything that can be bought and sold online. But many others have argued that a smartphone itself is a super app. Another startup founder Kavin Mittal, the man behind the $1.4 billion Hike Messenger, had similar ambitions but found it to be a misguided goal and dropped the plan in January 2021. Will Sharma prove his detractors wrong with Paytm? Only time will tell. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/paytm-ipo-listed-at-discount-of-9-starts-trading-at-1955/articleshow/87772082.cms" data-type="tilCustomLink">India’s biggest IPO lists 9% below the IPO price and it may fall even further, warn analysts</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a>

Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

<ul class="summary-list"><li>A San Francisco man said he'll keep riding in the back seat after his arrest, <a href="https://www.ktvu.com/news/back-seat-tesla-rider-pulls-same-stunt-but-in-new-car-after-jail-release">KTVU reports</a>. </li><li>Param Sharma said he is "very rich" and will keep buying Teslas as his cars are impounded. </li><li><keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> sells a feature called Full Self-Driving Capability, but it doesn't make cars autonomous. </li></ul>A San Francisco man who was arrested for riding in the back seat of his Tesla as it drove on the highway says he'll keep pulling the stunt after being released from jail - and he'll keep buying more cars as they get impounded. After getting booked on two counts of reckless driving, Param Sharma arrived for a Wednesday interview with the Bay Area <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> station <a href="https://www.ktvu.com/news/back-seat-tesla-rider-pulls-same-stunt-but-in-new-car-after-jail-release">KTVU</a> riding in the back seat of a Tesla again. But it wasn't the same car that California Highway Patrol pulled him over in. The day after being released from jail on Tuesday, he told the channel, Sharma bought a new Tesla Model 3 because the other was impounded. Also, he is "very rich," he told KTVU. "I have unlimited money to blow on Teslas. If you take away my Tesla, I will get another Tesla. That's how it works," Sharma said. The California Highway Patrol said Tuesday it had arrested Sharma for reckless driving and disobeying a peace officer. The arrest came after videos circulated online of Sharma riding down the highway in the back seat. He had been cited for the same offense in April, <a href="https://www.facebook.com/CHPGoldenGate/posts/4234774153213539">police said</a>. The incident is just the latest to spark scrutiny around how some Tesla drivers abuse the company's driver-assistance features. The National Highway Traffic Safety Administration has opened investigations into more than two dozen Tesla crashes, including <a href="https://www.businessinsider.com/tesla-driverless-crash-nhtsa-investigation-2021-4">a fatal incident in April</a> that police said occurred with nobody in the driver's seat. Sharma told KTVU he bought a Tesla with the Full Self-Driving package but seemed overly confident in the feature's abilities. The $10,000 advanced driver-assistance system - a step up from the standard <keyword id="1241857" type="PERSON" weightage="60" keywordseo="autopilot">Autopilot</keyword> feature - enables a car to automatically change lanes, navigate highway on-ramps and exits, and recognize stop signs and traffic lights.But it does not make Teslas autonomous, and the company says drivers need to pay full attention when using it. "It's like a living room back here. I'm relaxing in luxury while Elon Musk chauffeurs me," he told KTVU.Even in its most advanced iteration, the Full Self-Driving system <a href="https://www.businessinsider.com/tesla-full-self-driving-beta-videos-show-flaws-wide-release-2021-3">has major flaws</a>. Tesla tells the software's beta testers to be vigilant, as the feature could "do the wrong thing at the worst time." In tests, <a href="https://www.consumerreports.org/autonomous-driving/tesla-full-self-driving-capability-review-falls-short-of-its-name/">Consumer Reports</a> said <keyword id="8491284" type="UNKNOWN" weightage="60" keywordseo="Full-Self-Driving">Full Self Driving</keyword> performed inconsistently and sometimes disengaged without warning. Still, Sharma said he has no plans to stop riding in the back seat of his car, despite the clear dangers the stunt poses to pedestrians and other drivers. "I feel like by mid-2022 the backseat thing will be normal. And I think right now people are just taking it out of proportion," he said.

A man arrested for riding in the back seat of his driverless Tesla got out of jail, bought a new one, and did it again

Good morning and welcome to <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech">sign up here</a>.Let's get started.1. Microsoft board members reportedly launched an investigation in 2019 into a relationship between Bill Gates and a staffer. A Gates spokesperson told The Wall Street Journal that "there was an affair almost 20 years ago which ended amicably," and that Gates' decision to step down from the board in 2020 was unrelated. <a href="https://www.businessinsider.com/bill-gates-was-investigated-over-sexual-relationship-with-staffer-wsj-2021-5">More details.</a>2. President Joe Biden's Venmo account was discovered by reporters in "less than 10 minutes." Buzzfeed News reported that the transactions on the account were set to private, but that the account was linked to Biden's family members. <a href="https://www.businessinsider.com/president-joe-biden-venmo-account-found-less-than-10-minutes-2021-5">Read about the reporters' search</a>.3. Google is leading a fight to protect H-1B spouses' right to work in the United States. Along with Apple, Amazon, and Twitter, Google is campaigning to protect an Obama-era program that allows spouses of H-1B workers to also work in the US. <a href="https://www.businessinsider.com/google-apple-twitter-fight-protect-h4-spouse-visa-program-h1b-2021-5">Here's what that means.</a>4. The chip shortage that's wreaking havoc on supplies of electronics could last another two years. Surging demand and disrupted supply have led to a lack of the chips that are used in everything from cars to computers - and experts say it might not be fixed until 2023. <a href="https://www.businessinsider.com/global-chip-shortage-could-last-another-2-years-experts-say-2021-5">More on that here.</a>5. A Dogecoin co-creator called Elon Musk a "self-absorbed grifter" in a now-deleted tweet. The comment - <a href="https://www.businessinsider.com/dogecoin-creater-elon-musk-self-absorbed-grifter-jackson-palmer-2021-5">which you can read here</a> - came after Tesla stopped allowing customers to pay for vehicles in Bitcoin. That same day, Musk tweeted that he'd be working with Dogecoin developers <a href="https://www.businessinsider.com/elon-musk-dogecoin-developers-environmentally-friendly-2021-5">to make the cryptocurrency more efficient.</a>6. Amazon-owned Whole Foods is planning corporate layoffs. The layoffs come as part of reorganization involving merchandising, operations, HR, and <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> teams. <a href="https://www.businessinsider.com/whole-foods-plans-layoffs-as-part-of-corporate-reorganization-2021-5">A look at the company's restructuring.</a>7. Former President Donald Trump's blog crashed on Saturday after he posted about an Arizona recount. Trump launched the "From the Desk of Donald J. Trump" blog earlier this month. <a href="https://www.businessinsider.com/donald-trump-from-the-desk-blog-crashed-arizona-election-fraud-2021-5">More on the hour-long outage.</a>8. The man arrested after repeatedly misusing Tesla's Autopilot is a notorious Instagram wealth troll. 25-year-old Param Sharma has built a following from flaunting luxury items while trash-talking. <a href="https://www.businessinsider.com/tesla-autopilot-fsd-arrested-param-sharma-instagram-wealth-troll-2021-5">Take a look at his account.</a>9. Qualtrics used its own software to decide employees should come to the office three days a week post pandemic. The $15 billion tech company will adopt a hybrid-work model - and used its own survey software to come to its final decision. <a href="https://www.businessinsider.com/qualtrics-hybrid-work-post-pandemic-employee-survey-2021-5">Qualtrics' CEO and chief people officer break down how they did it.</a>10. Discord's CEO talks about what's next after reportedly rejecting Microsoft's $12 billion bid. We sat down with Jason Citron, who told us about the platform's path forward - and why he thinks it has an edge over rivals like Clubhouse. <a href="https://www.businessinsider.com/discord-ceo-jason-citron-interview-future-competion-clubhouse-audio-2021-5">Here's what he said.</a> Compiled by Jordan Erb. Tips/comments? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb">@JordanParkerErb</a>.Sign up for <a href="https://newsletter.businessinsider.com/join/free">more Insider newsletters here.</a>

10 things in tech you need to know today

<ul><li><keyword id="4487411" type="PERSON" weightage="20" keywordseo="bigg-boss-tamil">Bigg Boss Tamil</keyword> Season 3 was the highest watched entertainment show on Hotstar over the past year in India. </li><li>People also watched Koffee with Karan, <keyword id="83396" type="PERSON" weightage="20" keywordseo="Yeh-Rishta-Kya-Kehlata-Hai">Yeh Rishta Kya Kehlata Hai</keyword>, Bigg Boss Telugu, Kasthooriman (Malayalam) and Ke Apon Ke Por (Bengali). </li><li>Hotstar saw 63% of its total entertainment consumption come from non-metro cities. </li><li>Over 40% of the video content was consumed in regional languages with Telugu, Tamil and Bengali at the top. </li></ul>Bigg Boss Tamil Season 3 was the highest watched entertainment show on Hotstar over the past year in India. Part of this can be attributed to rise in regional language content. Over <a href="http://secure-media.hotstar.com/media-website/indiawatchreport2019/India_Watch_Report_2019.pdf">40% of the video content was consumed</a> in regional languages with Telugu, Tamil and Bengali at the top. According to Hotstar, 35% of Bengali consumption comes from outside the state. Whereas, most (80%) of Tamil and Telugu consumption came from the native states. Some other regional language content includes Bigg Boss Telugu, Kasthooriman (Malayalam) and Ke Apon Ke Por (Bengali). Hotstar had a great year. It saw 5400 million downloads⁠— <a href="https://www.businessinsider.in/business/news/hotstar-india-watch-report-2019-shows-95-consumption-came-from-mobile-phones/articleshow/72456426.cms">an average of 555 installs per minute in 2019 </a> — thanks to India’s increasing smartphone penetration and cheap data. People chose entertainment over sports on Hotstar — with drama being the favorite genre. As we approach the end of 2019, here are the top 6 shows that India watched the most on Hotstar: Yeh Rishta Kya Kehlata hai (Hindi) <div type="image" title="Capture6" msid="72468038" hostid="261"></div>

 Director: Romesh Kalra, Rishi Mandial, Ram Pandey Star: Shivangi Joshi, Monsin Khan Yeh Rishta Kya Kehlata hai is the fourth longest running soap opera in India. It was started a decade ago. The current show stars Shivangi Joshi and <keyword id="6372882" type="PERSON" weightage="20" keywordseo="mohsin-khan">Mohsin Khan</keyword>. More than half the audience of Yeh Rishta Kya Kehlata Hai on Hotstar audience is women Koffee with Karan (English) <div type="image" title="Capture5" msid="72468011" hostid="261"></div>

 Director and Producer: <keyword id="3778" type="PERSON" weightage="20" keywordseo="Karan-Johar">Karan Johar</keyword> Stars: Saif Ali Khan, Sara Ali Khan, Ananya Pandey, <keyword id="133664" type="PERSON" weightage="20" keywordseo="Tiger-Shroff">Tiger Shroff</keyword> etc. People love coffee and Bollywood gossip. Every year Karan Johar’s Koffee with Karan brings the latest news from the Indian film industry. This year Sara Khan’s debut to the show was the most watched Koffee with Karan episode — with 1.4X the average viewers, according to Hotstar. Moreover, a third of viewers of the show are from Mumbai. Bigg Boss Tamil Season 3 <div type="image" title="1569223471-1569171310_losliya-cheran-bigg-boss-tamil-3" msid="72467911" hostid="261"></div>

 Stars: Mugen, Sandy, Losliya, Sherin Shringar, Kavin, Cheran etc. Bigg Boss Tamil Season 3 was crowned as the most watched entertainment show on Hotstar. It registered 1.5X the consumption of Yeh Rishta Kya Kehlata Hai (top Hindi show), according to Hotstar. The third season of the reality show began on 23 June with 17 contestants and <keyword id="6354603" type="PERSON" weightage="20" keywordseo="kamal-haasan">Kamal Haasan</keyword> as the host. Bigg Boss Telugu Season 3 <div type="image" title="bigg-boss-telugu-3-winner-759" msid="72467929" hostid="261"></div>

 Stars: Ali Reza, Himaja, Punarnavi Bhupalam, Varun Sandesh etc. Another Bigg Boss regional content in the top category was its Telugu version. The third season of Bigg Boss Telugu began on 21 July 2019 and was hosted by Akkineni Nagarjuna. It also had a guest host — Ramya Krishnan. Kasthooriman (Malayalam) <div type="image" title="64915950" msid="72467940" hostid="261"></div>

 Director: Sunil Karyatuukara, Krishna Moorthy, Sachin K. Ibague Stars: Sreeram Ramachandran, Rebecca Santhosh, Beena Antony Kashthooriman is a Malayalam soap opera first premiered in 2017. The show is about the life of a widow and her three unmarried daughters. It is the top viewed series on Malayalam television, according to Broadcast Audience Research Council (BARC). Ke Apon Ke Por (Bengali) <div type="image" title="Capture" msid="72467965" hostid="261"></div>

 Director: Pijush Ghosh Stars: Pallavi Sharma, Biswajit Ghosh, Bulbuli Panja Ke Apon Ke Por is a family drama where Joba gets married to Param Sengupta, a member of the Sengupta family where she was a house help.

From Koffee with Karan to Big Boss Tamil⁠ — these are the most-watched Indian shows on Hotstar in 2019

The <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> today sought responses from senior <keyword id="6356617" type="POSITION" weightage="80" keywordseo="bjp-leader">BJP leader</keyword> L K Advani and others on a plea against dropping of criminal conspiracy charge against them in the Babri mosque <keyword id="6367653" type="PERSON" weightage="80" keywordseo="Demolition">demolition</keyword> case. 
 A bench headed by <keyword id="42759" type="POSITION" weightage="80" keywordseo="Chief-Justice">Chief Justice</keyword> H L Dattu issued notices to the BJP leader and the CBI on a separate plea filed by Haji Mahboob Ahmad, one of the petitioners in the Babri mosque case. 
 
 
Ahmad, in his plea, has alleged that CBI may dilute its stand in the wake of the change in the government at the Centre. 
 Earlier, the CBI had moved the apex court against <keyword id="48834" type="ORGANIZATION" weightage="80" keywordseo="Allahabad-High-Court">Allahabad High Court</keyword>'s verdict on dropping conspiracy charge against Advani and 19 others in Babri mosque demolition case. 
 
 
During the brief hearing, CBI today sought time for filing a fresh affidavit on delay in filing the appeal and on the merits of the case. 
 
The court allowed the plea of the probe agency and granted four weeks time to file the response. 
 
The apex court had earlier pulled up CBI for the delay in filing an appeal against the Allahabad High Court verdict. 
 
 
CBI has challenged in the Supreme Court the May 21, 2010 order of the high court, which had upheld a special court's decision to drop the charge against the leaders. 
 In its verdict, the high court had upheld the special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> order dropping conspiracy charge against Advani, <keyword id="6361634" type="PERSON" weightage="80" keywordseo="Kalyan-Singh">Kalyan Singh</keyword>, <keyword id="42642" type="PERSON" weightage="80" keywordseo="Uma-Bharti">Uma Bharti</keyword>, Vinay Katiyar and Murli Manohar Joshi. 
 
The others against whom the charge was dropped included Satish Pradhan, C R Bansal, Ashok Singhal, Giriraj Kishore, Sadhvi Ritambhara, V H Dalmia, Mahant Avaidhynath, R V Vedanti, Param Hans Ram Chandra Das, Jagdish Muni Maharaj, B L Sharma, Nritya Gopal Das, Dharam Das, Satish Nagar and Moreshwar Save. 
 
Bal Thackeray's name was removed from the list of accused persons after his death. 
 
While upholding the special court's order, the high court 
 
 While upholding the special court's order, the high court had allowed CBI to proceed with other charges against Advani and others in a <keyword id="2788382" type="ORGANIZATION" weightage="80" keywordseo="Rae-Bareily-court">Rae Bareily court</keyword>, under whose jurisdiction the case falls. 
 
The May 2010 order of the high court had said there was no merit in CBI's revision petition against the May 4, 2001 order of the special court which had directed dropping of criminal conspiracy charge against them. 
 
 
There are two sets of cases -- one against Advani and others who were on the dais at Ram Katha Kunj in Ayodhya on December 6, 1992 when the Babri mosque was demolished, while the other case was against lakhs of unknown 'karsevaks' who were in and around the disputed structure. 
 
CBI had charge sheeted Advani and 20 others under sections 153A (promoting enmity between classes), 153B (imputations, assertions prejudicial to national integration) and 505 (false statements, rumours etc. circulated with the intent to cause mutiny or disturb public peace) of the IPC. 
 
It had subsequently invoked charges under section 120B (criminal conspiracy) of IPC which was quashed by the special court whose decision was upheld by the high court. 
While upholding the special court's order, the high court had said CBI at no point of time, either during the trial at Rae Bareily or in its revision petition, ever stated that there was offence of criminal conspiracy against the leaders.

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10 things in tech you need to know today

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