The buy out of WhatsApp by Facebook for an astronomical sum underscores the phenomenal rise of innovative IT. Facebook itself, a pioneer of this business, is just 10 years old and is now valued at $134 billion. It has a client base of 1.25 billion of which around 1 billion are mobile users. WhatsApp with 450 million mobile users and growing may have some commercial leverage for Facebook of which we are not yet aware. Facebook too is perhaps less than clear on a roadmap today as to how to carry this acquisition forward or the level to which WhatsApp may take it before another app intercedes to change the script. The esoteric world of IT operates in an abstract plane where evaluations have no collateral back up like fixed assets in manufacturing or securities in financial services. Facebook had a stutter in its IPO of 2012, opening to sharp drop in share value to recover later. Both of which defy explanation by conventional accounting.
Janaki Narayanan , Ghaziabad
15th Lok Sabha
The poor performance of the 15th Lok Sabha can be traced to the UPA-II government packed with an unprecedented number of scams. Much of the time was lost with the Opposition demanding the resignation of the ministers concerned, including the Prime Minister for coal block allocations, with the government not obliging to the Opposition. Total washout of sessions contributed in large measure for accumulation of pending Bills compared to previous Lok Sabhas. It is astonishing that 128 Bills are pending as against 78 in the previous Lok Sabha. Constructive debates and arguments have eluded the 15th Lok Sabha. Parliament became a field for uproarious scenes and pandemonium. The performance of the next Lok Sabha also depends upon the quality of persons fielded by the parties and elected by the people. As is the quality of members so is and will be the performance.
KV Seetharamaiah, Hassan
Mercy for Rajiv assassins
The decision of the Tamil Nadu government to release Rajiv Gandhi assassination convicts as per the Supreme Court decision is within the laws of the land. There can not be double standards in the application of law. It is the UPA government, led by the Congress, which sat on the mercy petitions of many death convicts for years, due to political reasons. The benefit of the Supreme Court decision should be given to all without any exception. This is the result of well known policy paralysis of the UPA government. Kudos to the Tamil Nadu chief minister for taking immediate political advantage of the Supreme Court decision.
Sudhir K Bhave, Mumbai