1947 Tech 🇮🇳 : 66
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Forget Silicon Valley, Gen Z women see India and China as the next tech hubs
Silicon Valley has long held the crown as the global epicenter of all things tech. But that status could be starting to shift as more young workers — and women in particular — are betting on fast-growing IT hubs in Asia.
In a new study of 12,000 women developers across 100 countries, tech hiring site HackerRank found that Gen Z workers were up less likely than their older counterparts to view San Francisco as the guiding light for future tech careers.
Gen Z refers to the post-millennial generation, or those born after 1997.
Globally, Gen Z-ers saw Chinese financial city, Shanghai, as one of the world’s leading tech hubs within the next five years. Meanwhile, respondents from Asia Pacific specifically were 14 percent more likely to pinpoint India’s tech hub, Bangalore, than Silicon Valley, as the IT center of the future.
2. India is YouTube’s largest and fastest growing audience in the world: CEO
For YouTube, India is the largest and fastest growing audience, the video streaming service’s CEO Susan Wojcicki said on Tuesday.
ComScore data suggests that YouTube has more than 265 million monthly active users in India.
“India is now both our biggest audience and one of our fastest growing audiences in the world. YouTube today has become the first stop for users to consume content, whether they’re looking for entertainment or information. It is this incredible variety of content combined with the growing reach that makes YouTube a perfect platform for brands to drive personalised engagement,” Wojcicki said.
She also shared that in the last one year, YouTube’s consumption on mobile has increased to 85%, with 60% of the watch time coming from outside of the six largest metros in India.
3. Because sharing is smart
Vani Kola of Kalaari Capital shared great insights on the opportunity of sharing economy in India.
‘Jo tera hai woh mera hai, jo mera hai woh tera’, (What is mine is yours and what is yours is mine), a popular Indian advertisement jingle is a reflection that sharing is ingrained in Indian DNA. Sharing allows individuals to experience a product, without the need to own it, making aspirational products affordable and accessible.
The young and the restless: Youth (15–24 years) will contribute to 35% of India’s population in 2020 and is expected to be 1B strong by 2035. These young Indians are digitally savvy with high aspirations and belong to middle and emerging middle-classes.
Globally, the sharing economy is projected to see strong growth from $33B globally back in 2017 to $335B in 2025. In India, the sharing economy business is expected to scale from <$15B in 2017 to $45B-$48B in 2025
4. Delhi, and not Bengaluru, is the place to be for gig economy workers
Gig economy startups in India are transforming India for better.
An estimated 56% of new employment in India is being generated by the gig economy companies across both the blue-collar and white-collar workforce.
Led led by food delivery firms Swiggy and Zomato, and ride hailing firms Uber and Ola.
5. Fintech firms see big pie in online investment theme
After digital payments and lending, the online investment market has emerged as a big theme in the buzzy domestic financial technology sector. Fighting it out are the established payments companies like PhonePe, Paytm and Mobikwik and specialized players including ETMoney, Zerodha, and Scripbox.
About 70% of our customers are first-time investors while 90% are under 40 years.
As India is a mobile-first country, we are witnessing a tectonic shift in consumer behavior. For example, mobile trading in shares on the NSE jumped to a record 10.15% of the total turnover or nearly 3,700 crores a day in March 2019 from 3.6% two years ago and 1.1% five years ago.
A week in review:
The reason why I have been saying India is the last greatest untapped opportunity