May 19, 2020

Australia's Newest Import: Migrant Workers?

Business
Australia
Productivity
migrant workers
Bizclik Editor
3 min
Australia's Newest Import: Migrant Workers?
Australia's dependency on China has grown exponentially in recent years, and the co-dependent relationship is bound to intensify as the Australian Government is set to employ thousands of migrant workers-- a great majority Chinese-- within the next few years. According to a recent article in The Daily Telegraph, things are changing for the “Lucky Country,” and a boom in specific sectors has opened up employment vacancies that domestic citizens simply do not want to fill. In effect, the Federal Government has expressed interest in "importing" some 90,000 foreign workers by 2015 to fill gaps in the hospitality and tourism industry.

The service industry in Australia has struggled to fill the majority of their positions with natural-born citizens, and so the country has already seen a trend of employing illegal, under the table workers in the often low-paying jobs. Thus the Government’s decision to bring in outside workers to fill service jobs, in many ways just legitimises what is already happening under the legal radar. The plan would allow employers to employ foreign workers for up to three years under the 457 visa program, which has already seen great success in the mining sector.

So what are the jobs Aussies deem too demeaning to perform? Everything from janitorial work, waiting tables and driving taxis has officially turned off the Australian citizenry, who see the work as demoralising and menial. Also, it comes down to banking on bills, or more specifically the lack of bills associated with tedious work, as blue collar work simply does not yield enough cash to motive Australians into service.  

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Some critics find the importing of migrant workers to Australia ludicrous, as it indicates a massive shift in work ethic amongst Australia’s working class. However, the truth is Australia’s generous welfare system simply does not motivate Australians to do degrading work —for ultimately equal, or less pay— than they would receive on the Dole. Government living stipends ultimately secure a superior lifestyle to Australians than a job washing cars could ever do, and to most Aussies no job is more socially acceptable than a labour job.

Ultimately, recent generations of Australians have been born into a privileged and stimulating society, where the majority of people can secure jobs that are as interesting as they are fiscally rewarding. And when choosing between the lesser of two goods, (a high paying job, or government issued financial stability,) tedious low-paying jobs are simply not an attractive option. 

So go ahead: call them lazy, call them spoiled, but just don’t call an Australian to wash your car.

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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