From Swiggy-Zomato's 'mark-up' deliveries to Taylor Swift's 'Eras Tour', here are our most-read stories of the week
Maruti Suzuki's new avatar, PharmEasy's new dilemma, bull run at Dalal Street, are some of the stories that piqued the interest of our readers this week
Image: Shutterstock
1) Mark-up and deliver
There is a movie titled Stand and Deliver in which Edward James Olmos’ character Jaime Escalante disrupts the rotting education system to ignite hope in students from working-class families with defeated mindsets. In this story, we look at the reality of ‘Mark-up and Deliver’ of food-tech giants Zomato and Swiggy, two players that disrupted life as we know it. Food delivery aggregators are squeezing restaurants, which are, in-turn, off-loading the burden of aggregator commissions, discounts, and government taxes on consumers. And there is no Jaime Escalante from consumer activism to turn around and say that he is the "one-man gang" to take on the malpractices of this stifling duopoly. How will it play out? Read more
2) Keeping with the times
In December 1983, the Maruti 800 was introduced on Indian roads. Since then, Maruti has been the commoner's carmaker. On July 5, 2023, India's largest automobile company launched a multi-purpose vehicle (MPV) called Invicto, which will compete with the Toyota Hycross. Priced between Rs24.79 lakh and Rs28.42 lakh, this vehicle will cross the Rs30 lakh on-road price tag in the country, making it the most expensive car from the Maruti Suzuki stable so far. The launch also marked the carmaker's departure from its decade-old perception of being the common man’s brand. The reality check from the burgeoning Indian economy and evolving customer preferences has jolted Maruti Suzuki, and it seems to have found the right path. Read more
3) What went wrong at PharmEasy?
Top investors like Temasek, TPG Growth, Prosus (formerly Naspers), Facebook co-founder Eduardo Saverin’s B Capital and Nandan Nilekani’s Fundamentum Partnership, among others, believed in what health-tech startup PharmEasy was trying to do. They invested $1.2 billion in 16 funding rounds since its launch in 2014. Flush with funds, in 2021, PharmEasy also made a strategically brilliant acquisition of Thyrocare Technologies to move from peddling low-margin drugs to selling high-margin testing services. But in 2023, it is reportedly raising Rs 2,400 crore in fresh funds at a 90 percent markdown to its previous valuation. What went wrong at PharmEasy? Can it recover? 
Indian crypto companies have suffered a lot since the crypto winter hit early last year. A series of events in 2022, like the Terra-Luna crash, the collapse of FTX, central banks tightening monetary policy to curb stubbornly high inflation and stringent domestic tax rules, led to the bear market. Profits have also been impacted, and several exchanges have been forced to find new avenues–beyond crypto transactions and listing fees–to revive their fortunes. Is this what Nischal Shetty, CEO of WazirX, is also looking to do? In a conversation with Forbes India, Shetty talks about the shutdown of the NFT business, the need for regulations for the industry, and outlining models to generate more revenue for WazirX and his new startup Shardeum. 
The last time Taylor Swift did a live concert tour was in 2018 to promote her album Reputation, a comment on the media's obsession with her personal life, a subtle declaration of her love for then-beau Joe Alwyn, and diss at Kanye West and Kim Kardashian for a long-stretched feud with the rapper. In 2023, Swift is back on the road, promoting four albums she released since the pandemic—Lover (2019), Folklore (2020), Evermore (2020), and Midnights (2022)—and the 'Taylor's Version' of Fearless, Red, and Speak Now (her battle with music manager Scooter Braun is a whole another saga). Tickets to her concerts are selling better than hotcakes. From exposing cracks in how fans are duped in the ticket sale process to world leaders pleading with her to bring her show to their country, to inching towards billionaire status, The Eras Tour is creating many firsts for music historians to note. Here's a look at the Swiftonomics in our new explainer series 
Amazon with its Prime Day, and Flipkart with its Big Saving Days are kicking off their annual discount sales on July 15. Prime Day is for the weekend—one additional day on July 14 for Amazon Prime members—and Flipkart's savings days are for four days from July 15 to July 19. How will these sales perform, and what is different—because of changed consumer preferences, inflation, and the evolution of India's ecommerce rules over the years? Ankur Bisen, Senior Partner and Head - Consumer, Food and Retail at Technopak Advisors, who's been tracking the ecommerce scene for more than 15 years, laid down some theories in the new episode of ToThePoint podcast. 
Bulls on Dalal Street and Wall Street are on a rampage. Some are cautious of the lurking dangers and have fastened their seat belts, but most players are optimistic about the game. But there are some clear differences between the driving factors. It is fascinating to observe how large-cap stocks are leading the charge in a slowing economy in the US. The top 10 S&P 500 Index stocks contributed the bulk of the index returns in the previous quarter. Technology stocks that promise to lead the evolving AI revolution deserve special mention. Given the chatter around an imminent US recession, it’s a stock rally that no market expert saw coming. In India, the current rally in stock prices tells a different yet equally fascinating story. Let's find out. 
