Top 5 tech and startup stories of the day

Salesforce CEO Marc Benioff is optimistic about a resolution to Trump’s trade war. This and more in today’s ETtech Top 5.

Also in the letter:
■ Honasa vs Lakmé
■ Pakistan’s crypto push
■ Swiggy’s new app
Tariff situation should get sorted out in short term: Salesforce CEO Marc Benioff

Salesforce founder and CEO Marc Benioff believes the current tariff issue will be resolved in the “relatively short term,” citing the significant global opportunity available to all players.

Edited excerpts:

Trump tariffs: This isn’t the first time we’ve faced political challenges of this kind. I believe much of this will be resolved in the relatively short term, because there's so much opportunity for us to operate on the global stage and to move forward rapidly.

On India: I expect India to become a huge beneficiary of the ongoing global change and transformation. We have really been in the India era, and the country’s remarkable growth over just a few years clearly reflects that.

Copyright issues: In the case of OpenAI, they paid us a very good licensing fee. But some AI companies are still not doing that. You can’t simply take whatever data you want and then say it’s yours. That’s not how the world works. We believe in intellectual property, and eventually everybody will need to acknowledge and respect that.

Also Read: No company for coders. Salesforce won't hire engineers, thanks to AI gains
ETtech Explainer: Why the US government wants to break up Meta
Mark Zuckerberg, CEO, Meta

Social media giant Meta is grappling with its biggest legal threat yet as the US Federal Trade Commission (FTC) pursues a sweeping antitrust case. The agency alleges that Meta acquired emerging rivals to suppress competition and build a social media monopoly.

What’s happening:

• In its 2020 lawsuit, the FTC accused Meta of maintaining its dominance by purchasing fast-growing competitors—Instagram in 2012 for $1 billion and WhatsApp in 2014 for $19 billion.
• The FTC argues that these acquisitions reduced consumer choice and stifled innovation. By merging Facebook, Instagram, and WhatsApp, Meta allegedly curbed competition in the social networking space.

Meta’s response:

• Meta denies these allegations, insisting that regulators approved the Instagram and WhatsApp deals years ago.
• Company lawyers contend that Meta faces fierce competition from TikTok, YouTube, Snapchat, and LinkedIn and, therefore, cannot be considered a monopoly.
• In court, CEO Mark Zuckerberg said Meta made significant investments in Instagram and WhatsApp after acquiring them. He described early deal talks as exploratory, not as attempts to eliminate competition.

Future possibilities: If the FTC prevails, it could reshape how regulators approach mergers, potentially limiting Big Tech’s ability to acquire startups. The FTC and Department of Justice (DoJ) have ramped up antitrust actions against Amazon, Google, and Apple.

Tightrope walk: The case also reflects Zuckerberg’s political gamble. After Donald Trump’s reelection, Meta rolled back content policies to align with MAGA-style “free speech.” Yet Trump’s DoJ let the case go to trial, siding with anti-Big Tech Republicans, including his vice president, JD Vance.
"Oops, someone was caught copying": Honasa’s Ghazal Alagh takes a swipe at Lakmé
Ghazal Alagh, cofounder, Honasa Consumer

Honasa Consumer, Mamaearth's parent company, has escalated its clash with Hindustan Unilever over an ad campaign that questions the claims made by digital-first sunscreen brands.

Driving the news: On social media platform X, Honasa Consumer cofounder Ghazal Alagh accused HUL's brands Lakme and Sunsilk of copying its products across categories, including sunscreens, face wash and shampoos.


Tell me more:

• A recent Lakmé ad alleged that while online brands marketed their sunscreens as SPF 50, tests showed they were only SPF 20.
• In response, Honasa put up a cheeky billboard next to a Lakmé ad, saying: “Hey Lakmé, congratulations on finally getting SPF 50 in-vivo tested. Welcome to The Derma Co. standard.”

The big picture: The public spat underscores the widening gap between new-age startups and legacy FMCG giants. Industry experts see this as a reflection of rising consumer demand for evidence-based claims and innovations tailored to Indian needs.

Also Read: New skincare labels catch the fancy of young India, eating into demand for many biggies
Binance founder Changpeng Zhao to help Pakistan boost crypto trading bid
Changpeng Zhao, cofounder, Binance

In a major move to advance its digital finance ambitions, Pakistan has appointed Changpeng Zhao (aka CZ), cofounder of Binance, as a strategic advisor.

Zhao’s role: As a strategic advisor to the newly established Crypto Council, Zhao will guide efforts on regulation, infrastructure development, education, and the wider adoption of digital assets across the country.

Context setting: Pakistan aims to legalise crypto, and position it as a tool to attract foreign investments into the country, while also competing with crypto hubs in Dubai and Singapore.

• The country has an estimated 15-20 million crypto users, and ranks ninth globally in Chainalysis’ 2024 Crypto Adoption Index.
• This marks a significant reversal for a nation whose central bank outlawed financial institutions from processing crypto transactions in 2018.

Pitchside: The ongoing Pakistan Super League (PSL), its franchise-based T20 cricket league, lists XchangeOn as an official partner. Meanwhile, Islamabad United has partnered with Binance as its official exchange sponsor, with the brand prominently displayed on the back of the team’s jersey.

Also Read: Crypto exchange Binance gets $2 billion investment from Abu Dhabi's MGX
Tax planners, yoga trainers, astrologers: Swiggy launches white-collar services marketplace Pyng
Sriharsha Majety, CEO, Swiggy

Food and grocery delivery company Swiggy has unveiled Pyng, a new standalone app designed to connect users with a wide range of professionals.

App details: In November, ET had reported that Swiggy initially piloted the service under the name 'Yello' before rebranding it as Pyng.

• The app, currently live in Bengaluru, offers users access to services from health and wellness experts, financial advisors, wealth managers, astrologers, event planners, and more.
• Pyng features an AI assistant that processes user queries, analyses their requirements, and then recommends the most suitable professionals accordingly.

Competition landscape: While Pyng bears similarities to platforms like Urban Company, which offers at-home services, there are key differences. Urban Company primarily focuses on practical, blue-collar services such as plumbing, electrical work, and painting, whereas Pyng specialises in connecting users with white-collared professionals offering more specialised expertise.

Rival update: Meanwhile, Blinkit CEO Albinder Dhindsa announced that users of the quick commerce platform can now access a range of Airtel SIM services via the app, with delivery in just 10 minutes.

Also Read: Blinkit to now deliver ACs in 10 minutes