headlines that matter

editor’s note

In our latest Advisory edition… This holiday guide is a sneak peek of Souk—the next, most amazing thing from splainer. A list of themed walking tours that will make you want to wear your shoes and step out. For Sally Rooney fans—a great list of books about love-hate sibling relationships. Grab your popcorn and tune in for our favourite pods and vods on film and TV shows. And as always, we’ve curated the best new shows and films to binge-watch this weekend. Read it here.

Download our awesome app: It’s the best way to read splainer on the go—and has loads of handy features. It is beautiful and very well-designed. So hurry up and download it already!

Written by: Aarthi Ramnath, Raghav Bikhchandani & Yash Budhwar

The Clueless Founder: What is a Founders’ Agreement?

Welcome to our new series titled ‘The Clueless Founder’. A new founder’s life is both exciting and very complicated—and we’re all a little bit clueless. You’ve gotta figure out how to build, scale, raise paisa, make paisa, hire the right people, find the right partners—all at the same time. So we’re going to take a deep breath and break it down one episode at a time. Think of it as a no-BS, real life guide for any founder who is just starting out.

In this first episode, Lakshmi Chaudhry (splainer Founder) and Chitra Raghavan (Partner, Rajaram Legal) discuss the one document that both causes the most drama—and also saves you from the ugliest drama. And that’s the Founder’s Agreement. It's the startup equivalent of the shaadi prenup. Very icky and very necessary. Watch it below.

The great Indian GDP slide

The Indian economy’s growth rate in the second quarter fell to a two-year low—to a shocking 5.4%. The slide has been precipitous. In the same period last year, our GDP grew a heady 8.1%—and by 6.7% in the first quarter. The rate has now declined three quarters in a row.

Point to note: Economists expected a growth rate of 6.5%—compared to the Reserve Bank’s prediction of 6.8%. They are rarely this far off the mark.

The reasons: While the size of the dip was unexpected, the reasons are well known: High inflation—which has severely dented consumer demand:

Urban consumption has taken the biggest hit in recent months. People cutting back on expenses is a big worry because private consumption is estimated to account for about 60% of India's gross domestic product (GDP). Rising inflation, particularly in food items, has squeezed household budgets forcing people to cut back even on essentials. This is visible in the earnings slowdown for even consumer giants with the lion's share of the market.

The government’s response: is as expected:

The chief economic advisor dismissed concerns surrounding the numbers, pointing that the data was "disappointing, but not alarming", as he blamed geopolitical uncertainties as a factor weighing on growth.

What’s next: There are four “engines” of economic growth: Private consumption, private investment, exports and government spending. The first three are stalling out. All hopes are pinned on heavy government spending on infrastructure—slated for the second half of this year.

Reading list: MoneyControl has lots more numbers. Mint offers a handy overview of the challenge. Latha Venkatesh in CNBC18 offers a good analysis of the data. Also read: The Economist on India’s slowing economy.

Another bout of violence and insurgency in Aleppo

The context: Between 2013 and 2014, ISIS conquered large parts of Syrian territory—including the city of Aleppo in northern Syria. The ousted president Bashar-al Assad staged a surprise comeback in 2017—with the military help of Russia. ISIS was relegated to small pockets in the east. But rebel groups backed by Ankara continued to control the regions bordering Turkey. Russia and Turkey brokered a ceasefire between the Syrian military and the rebels in 2020.

What happened now: The rebels have scored an out-of-the-blue victory—taking control of Aleppo. But this is not your grandma’s Islamic State. This group is led by Hayat Tahrir al-Sham (HTS)—which broke from Al Qaeda in 2016. Also in the mix: Turkey-backed militias—who are targeting Kurds in the north. You can see who controls what part of Syria below:

Where we are now: The takeover has not been particularly bloody… for now. But Assad’s forces—backed by the Russian military—have been pummelling the region with airstrikes. The Iranian foreign minister has arrived in Damascus in a show of support for Assad. The Syrian government has heavily relied on the Revolutionary Guards to keep the rebels at bay. BBC News has everything you need to know about HTS. The Guardian reports on the latest events.

Sticking with the Middle East: Donald Trump has appointed his daughter Tiffany’s Lebanese-American father-in-law—Massad Boulos—as his Middle East adviser. Experts have no clue what this might mean. (New York Times)

Collapse of the plastic treaty

Delegates from 170 countries gathered in South Korea failed to ink a first-ever global deal to eliminate plastic pollution. The nations were fiercely divided over one key issue: cutting production of virgin plastic—made from petrochemicals. The push to set targets was vehemently opposed by oil-producing countries such as Saudi Arabia—but also India which “has significant stakes in producing plastic polymers.” In other words, we produce a lot of virgin plastic—which we insist is our right as a developing country. The Hindu has lots more on why negotiations stalled.

Moving on to car tyres: A new study shows that tyre particles account for 28% of all microplastic pollution worldwide. Tyres are made from a complex mix of synthetic and natural rubbers—plus hundreds of toxic additives. Tyres of heavier vehicles—including EVs, btw—wear out faster, producing more such particles. Scientists say they need to be treated differently from traditional microplastics—since they are larger and far more ubiquitous. These tiny fragments—shed by vehicle tyres—accumulate in soil, waterways, and even food. In fact, chemicals from tyres have been found in human urine. (The Conversation).

Belgium makes history with sex worker law

Belgium has become the first country in the world to pass a comprehensive law granting sex workers full labour rights. In other words, sex work will be treated just like any other ‘job’. And it will include standard benefits—such as employment contracts, health insurance, pensions, maternity leave, and sick days. Sex workers even have the right to refuse sexual customers or to perform specific acts.

The most important bit:

Employers must now obtain authorization, adhere to strict safety protocols, and meet background requirements, including no prior convictions for sexual assault or human trafficking. They must provide clean linens, condoms, and hygiene products, and install emergency buttons in workspaces.

FYI: Sex work was decriminalised in Belgium in 2022. (ABC News)

what caught our eye

business & tech

ChatGPT often misrepresents sources, posing accuracy and reputational risks for publishers—even with licensing deals or blocked crawlers.
Strict policy-based dismissals for minor infractions are rising, sparking concerns over cost-cutting "stealth sackings."

sports & entertainment

Ed Sheeran’s Mathematics Tour comes to India in January 2025, with shows in Pune, Hyderabad, Chennai, Bengaluru, Shillong, and Delhi NCR.
The local arms of Louis Vuitton, Christian Dior and Hermes together sold ₹1,400 crore worth of clothes, bags and other merchandise in India in the year ended March 2024.
Telugu action thriller Pushpa 2 releases December 5, with Delhi tickets priced highest country-wide at Rs 1,800.

as for the rest

India recorded over 4.80 lakh (480,000) road accidents in 2023, causing 1.72 lakh (172,000) deaths, with overspeeding, poor road infrastructure, and lack of safety measures cited as key factors.
The BJP's defeat in Jharkhand was mainly due to the cash transfer scheme for women, high female voter turnout, and the rise of a rival party. Note: This is the same reason BJP won in Maharashtra.
Former Israeli defense minister Moshe Yaalon has accused Israel of war crimes and ethnic cleansing in Gaza.
As the Alipore Zoo celebrates its 150th year, Telegraph profiles various animals at the zoo, describing their behaviors, diets, and interactions with zookeepers.
Thailand is repatriating nearly 1,000 endangered tortoises and lemurs to Madagascar in a major anti-trafficking operation.
Over the past 15 years, 94 people have died while cleaning sewers in Delhi, but only one case has resulted in a conviction, with many cases unresolved due to lack of evidence and inadequate police action.
MPs in Britain have voted to back a bill legalizing assisted dying for terminally ill adults in England and Wales. This is just the first step in a long legal process–amid a fierce public debate.
Pope Francis highlighted Sree Narayana Guru's message of universal human unity as crucial in today's world.
Canada expects nearly five million temporary permit holders to leave by 2025 as part of a strategy to reduce immigration targets and ease housing and social pressures.
The proposed Kerala Captive Elephants Rules aim to prevent elephant cruelty, with penalties for mistreatment and provisions for euthanasia of suffering elephants.
Matt Gaetz withdrew from consideration for Attorney General, resigned from Congress, and joined Cameo to offer personalized video messages for $500.
Navjot Singh Sidhu and his wife face an ₹850 crore legal notice over claims that a special diet cured her stage-four cancer in 40 days.
After buying a $6.2 million banana artwork, Justin Sun's plan to buy 100,000 bananas was met with skepticism from the vendor and the employees, highlighting inequality.

Five things to see

One: Five years after the catastrophic fire destroyed great parts of the cathedral, it is set to open its doors to the public on December 8. Here’s a sneak peek of the restoration—which is lovely but doesn’t quite have that dingy, medieval charm. The Guardian has more images. (CNN)

Two: Americans are buckling up for a rocky ride with Trump’s new pick for FBI chief—Kash Patel—who may put the infamous J Edgar Hoover to shame. Here’s a taste of his wild plans for the Bureau. Also: What’s with Donald’s desi fanboys—all of whom seem nuts. (Reuters)

Three: In a recent interview with Karan Thapar for The Wire, lawyer Dushyant Dave started to cry when discussing religious hate in India. It was a rare moment when a so-called pundit publicly expressed emotions that a number of us share. You can watch the clip below. The full 37-minute conversation is here. (The Wire)

Four: Zayn Malik dedicated a song called ‘Its You’ as a tribute to Liam Payne at his hometown Wolverhampton. (BBC News)

Five: At her Mumbai concert on Saturday, Dua Lipa embraced meme culture by performing this viral mashup of her hit ‘Levitating’ and ‘Woh Ladki Jo’ from ‘Badshaah’. Watch the crowd go wild below. (The Hindu)