Social media addiction is highly subjective since it depends on a person’s experience and emotional state. While this is true, the platform we use also contributes to the addiction that we feel, like in the case of Meta apps.

Earlier this week, Mark Zuckerberg testified before a Los Angeles jury, defending Meta Platforms against allegations that its social media platforms deliberately targeted young users and fostered addictive behavior.

The high-profile lawsuit, which also names YouTube as a defendant, could influence thousands of similar cases pending across the United States.

Meta is Allegedly Targeting Young Users Intentionally

At the center of the case are claims that Instagram and Facebook prioritized teen engagement despite internal research identifying potential mental health risks.

According to CNN, plaintiffs argue the company knowingly implemented strategies designed to increase time spent on its platforms, even as studies suggested negative effects on younger users.

Internal Research and Email Evidence

During cross-examination, attorneys presented internal emails and research reports indicating that company leaders closely monitored teen activity and explored ways to boost engagement.

A 2019 email questioned whether Meta’s enforcement of age restrictions was sufficiently rigorous, suggesting that weak oversight undermined claims that the company was doing everything possible to protect minors.

Another internal study reportedly found that some teens described feeling “hooked” on Instagram, with usage patterns resembling behavioral addiction.

Zuckerberg disputed the plaintiffs’ interpretation of the documents, arguing that the materials were taken out of context. He emphasized that certain internal findings also reflected positive user experiences and maintained that Meta has consistently invested in safety improvements.

The business tycoon reiterated that children under 13 are prohibited from using the platforms and account for only a minimal portion of advertising revenue.

Teen Growth Strategy and Engagement Metrics

BBC reported in another article that additional emails from 2015 and 2017 revealed discussions about prioritizing teen growth and increasing time spent on Meta’s platforms.

Zuckerberg acknowledged that earlier corporate goals emphasized engagement metrics but stated that the company has since shifted toward promoting healthier digital habits.

He highlighted safety tools introduced in 2018, including daily usage limits, notification controls, and parental supervision features. However, internal data presented in court suggested that adoption of these tools among teens remained relatively low.

Originally published on Tech Times

India Inc’s third-quarter earnings season has delivered a broadly steady performance, with early signs that operating pressures are easing after several quarters of margin stress. Market participants say improving earnings visibility could lend support to valuations, though caution persists given valuation dispersion and ongoing uncertainty around the artificial intelligence cycle.

Sharing his view on the quarter in an interview to ET Now, Amit Khurana from Dolat Capital said earnings largely held up against expectations and operating performance appears to be stabilising. He noted, “There were broadly three key trends that we observed for the current quarter. One, earnings held on pretty well in terms of the estimates versus actual delivery… Second, the operating performance has started finding bottoms… And finally, we are trending now towards mid-teens aggregate earnings… So, positive take on the earnings and as we go along the next few quarters this will only rebound further and give the much needed confidence and support to the valuations.”

On stock-specific developments, he said the ₹2,000-crore capex plan by Hindustan Unilever signals confidence in long-term demand, particularly in premium segments. “Capex from FMCG companies… reflects the structural demand that they are seeing over the next few years… HUL expansion especially given the size seems pretty meaningful and we stay positive on that… India is premiumizing fast and franchises which are able to position their products accordingly will probably have a market share sustenance or gains,” he said.

Khurana cautioned against reading too much into intermittent foreign inflows, saying concerns around India’s positioning in the AI wave and valuations remain. “AI wave everybody seems to be talking about it… But to your point on the FII buying… I am not very enthused with a few days of buying… And second, the valuations while they have turned relatively better are not outright cheap even now… one needs to be stock specific,” he said.

He added that domestic consumption continues to be a preferred theme, with a bottom-up approach guiding stock selection. He highlighted Marico as a preferred name, saying, “We have been pro-domestic consumption… We also are beginning to like staples… we have liked Marico… This is a market wherein you will have to do a real hard work of identifying the names… domestic consumption has been our favourite.”

On infrastructure, including developments around NCC Limited, Khurana said the sector has corrected due to slower order flows but fundamentals remain intact. “Infra stocks have taken a big beating… probably because of the slowdown of the NHAI order book… our channel checks are suggesting that this should eventually play out… Specific to NCC, we need to wait for the specific details,” he said.
Discussing the IT sector and developments at Infosys and Tata Consultancy Services, he said investors are awaiting clarity on disruption timelines and growth visibility. “The market will look for very strong evidence on two counts… how far is this disruption going to continue… and secondly, is the kind of opportunities which will come… In the interim… they will broadly be in the range,” he said.

Consolidation with a holding company enhances control, tax planning, and efficiency, but sector restrictions and dividend taxes influence foreign ownership limits and repatriation strategies in Indonesia.

Capital Requirements for Consolidation

Consolidation becomes essential when expansion increases a company’s exposure across multiple entities. In Indonesia, a PT PMA typically requires a minimum investment of IDR 10 billion (US$637,000) per business classification. Establishing three subsidiaries in different sectors would demand at least IDR 30 billion (US$1.91 million) in committed capital before operational expenses are considered. This substantial funding highlights the need for careful planning in capital allocation and investment management to support growth and diversification efforts.

Impact of Holding Companies on Tax and Profit Management

Introducing a holding company alters the landscape of equity distribution and profit accumulation. The holding can be either Indonesian or offshore, influencing tax residency, treaty benefits, and dividend routing. The optimal choice depends on the investor’s long-term capital strategy, especially regarding cross-border profit repatriation. Jurisdiction selection is critical, as it directly affects net returns, with tax treaties playing a vital role in reducing withholding taxes on dividends.

Ownership, Control, and Sector Regulations

Ownership placement significantly impacts tax obligations and control rights. Indonesia’s Positive Investment List restricts foreign ownership in specific sectors, meaning a holding company cannot bypass sector-specific limits. Additionally, dividends paid abroad typically face a 20% withholding tax unless reduced by tax treaties. Planning for dividend flows exceeding this threshold makes treaty positioning and jurisdiction choice economically crucial to optimize after-tax returns.

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Read the original article : Should Investors Consolidate Indonesia Operations Under a Holding Company?

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Oak Garden Apartments 400 Garden Lane is a community-focused housing complex based in Chickasaw, Alabama.

Since acquiring the property in 2019, the leadership team has taken a long-term approach to ownership. Their work centers on raising standards in rental housing through steady investment and consistent management.

When they purchased the apartment complex, they saw both potential and responsibility. Significant capital was invested to modernize interiors and improve shared spaces. Mature trees and lush grounds were preserved. Outdoor areas were made more usable. The goal was clear from the beginning.

“We purchased this property with a long-term view,” they explain. “Our goal was simple. Make it a great community to raise a family.”

Oak Garden Apartments 400 Garden Lane offers spacious interiors, a pet-friendly setting, on-site laundry, a dog park, picnic area, and 24-hour maintenance. Yet leadership believes amenities alone do not define quality housing.

“Anyone can list features,” they say. “What matters is how the place feels day to day.”

Their philosophy focuses on improving community standards across resident relations, maintenance, and quality living spaces. They see property management as stewardship rather than simple oversight.

“You are not just managing buildings,” they note. “You are managing people’s homes.”

Through discipline and consistent attention to detail, Oak Garden Apartments 400 Garden Lane has positioned itself as a steady leader in community-based housing in the Chickasaw area.

A Conversation with Oak Garden Apartments

Q: Take us back to 2019. What led to the purchase of Oak Garden Apartments 400 Garden Lane?

A: In 2019, we saw an opportunity in Chickasaw. The property had solid foundations. It also had room to improve. We believed in the location and in the long-term potential. We did not see it as a short project. We saw it as a responsibility.

Q: What was your immediate priority after the purchase?

A: Investment. We put significant capital into the property. We focused on modernising the interiors and improving the grounds. We wanted residents to feel the change. Not just see it.

“Improvements to the property send a message that we are here for the community,” we often say. “We wanted residents to notice the difference.”

Q: Why focus so heavily on standards?

A: Standards shape daily life. When maintenance slips, small issues grow. When communication fails, trust breaks down. We define our mission as improving community standards across resident relations, maintenance, and quality living spaces.

“We hold ourselves accountable,” we say. “If something needs attention, we address it.”

Q: What makes Oak Garden Apartments 400 Garden Lane distinct in your view?

A: Consistency. The community offers modern and spacious interiors. It is pet-friendly. There is on-site laundry, a dog park, picnic area, and 24-hour maintenance. But features alone are not enough.

“Anyone can list amenities,” we explain. “What matters is how the place feels when you live there.”

We focus on clean spaces, reliable service, and steady upkeep.

Q: How important is location in your strategy?

A: Very important. The property sits near major interstates and is minutes from downtown Mobile. That balance matters. Chickasaw offers a quieter setting while staying connected to work and services.

“Comfort and convenience affect everyday life. Location supports that.”

Q: How would you describe your leadership philosophy?

A: Long-term thinking. We think in years, not months. We do not chase trends. We focus on fundamentals. Safe units. Functional layouts. Well-kept grounds.

“You are not just managing buildings,” we often remind ourselves. “You are managing people’s homes.”

That mindset shapes how we operate every day.

Q: What lessons have you learned since 2019?

A: Patience and discipline matter. Real improvement takes time. Quick fixes do not build strong communities. Consistent effort does.

We have also learned that residents value reliability. When maintenance is responsive and communication is clear, trust grows.

Q: How do you define success in this industry?

A: Success is stability. It is a property that runs well. It is residents who feel comfortable. It is standards that are maintained year after year.

“Our job is to raise the standard. Not just once. Every day.”

Q: Looking ahead, what remains your core focus?

A: The same as it was in 2019. Improve the property. Strengthen the community. Maintain the standard. Leadership in housing is not loud. It is consistent.

At Oak Garden Apartments 400 Garden Lane, that consistency defines our career and our approach to the industry.

Valuation discipline often gets overshadowed during bull markets, but for Srinivas Rao Ravuri, Chief Investment Officer at Bajaj Life Insurance, it remains non-negotiable.

In this edition of The Golden Thumb Rule, Ravuri emphasises that sustainable wealth creation is not about chasing momentum but about adhering to Growth at a Reasonable Price (GARP).

He cautions that even in a rising market, overpaying for future growth can erode returns and hurt long-term compounding.

Drawing on market data from the past five years — where headline indices doubled but a large share of stocks delivered muted or negative returns — Ravuri underscores the importance of entry price, margin of safety, and disciplined asset allocation.

He also shares practical thumb rules on acceptable PE multiples, navigating market euphoria, and striking the right balance between time in the market and valuation-driven investing. Edited Excerpts –

Kshitij Anand: If you had to define valuation discipline in one sentence, what would be your golden thumb rule for investors?
Srinivas Rao Ravuri: Our golden rule is Growth at a Reasonable Price, or what we call GARP, which is what we follow at Bajaj Life. Before I dwell deeper into this, I just want to make a point. Given the markets we have seen over the last five years, the Nifty has doubled and delivered about 14% compounded returns.
Ignoring the COVID phase, from Jan 2021 to now, Nifty 500 companies have doubled. But within that, a good 40% of companies — around 200 — have delivered negative returns over these five years when the market has doubled. And about 15% of the companies have delivered very healthy returns.

So, the point I am making is that if you buy at the right price, compounding will automatically work in your favour. But if you overpay and pay today entirely for expected future growth, you can lose money even in a good market.

Kshitij Anand: Why do most investors abandon valuation discipline during bull markets, and what is the thumb rule to avoid that? There is a saying that when everyone is talking about markets and giving tips, that is the time you should actually bail out of the markets.

Srinivas Rao Ravuri: Well, we are investors and we are human beings. And we have emotions. Markets are governed by fear, greed, and, as some people say, career risk. In bull markets, we tend to see people ignoring time-tested principles of investing and valuation metrics like price-to-earnings and start focusing on narratives instead.

In fact, even professional investors go through a relative valuation phase — saying X company is trading at 60 PE and it is cheap because Y company in the same space is trading at 80 PE, so it looks better. I think that is one challenge we face. Another issue is that people believe they will ride the flavour or momentum of the season, citing examples like defence, infrastructure, and real estate. They start thinking this time is different and that these sectors will deliver returns forever. These are things we need to be mindful of.

We are here to make money, and the first principle to keep in mind is: do not lose money.

Kshitij Anand: Coming back to your first point about the right price to buy — what is your thumb rule to decide when a stock is too expensive to buy, regardless of how strong the story is?

Srinivas Rao Ravuri: Here again, I would like to use a simple price-to-earnings metric to determine whether a stock is expensive or not. For a steady-state business, I would say paying 33 times earnings is fine. What is the logic? When we say the price-to-earnings ratio is 33, we are essentially talking about a 3% earnings yield.

For a growth company — and investing in equity is about investing for growth — a 3% earnings yield plus growth is acceptable to me. Within that, for a relatively new business or a new segment where high growth is visible today, maybe you can pay up to 50 PE. Anything more than that raises questions about the margin of safety. That is what I would like to avoid as far as possible.

Kshitij Anand: I understand. In fact, even in new fund offers and IPOs, we see a lot of companies trading at much higher PEs than what you just highlighted as a benchmark. Any word of advice or caution for investors there?

Srinivas Rao Ravuri: Absolutely. I think what we need to keep in mind is that high-quality companies can also be poor investments if bought at the wrong price. As I mentioned earlier, we are already seeing that happen. The first principle is avoiding big mistakes.

Companies in new-age sectors, catering to evolving markets and demonstrating long-term growth potential, tend to trade at premium valuations. But what is important is sustainability and also keeping in mind the concept of mean reversion.

Kshitij Anand: Now, let me also ask — investors do end up buying stocks that may be available or trading at a premium valuation. It does happen. So, what is your thumb rule on paying a premium valuation? When can we say it is justified, and when is it dangerous?

Srinivas Rao Ravuri: When there is a long-term reinvestment runway — meaning the durability of business growth and earnings growth is visible — I do not mind paying a premium. Let us say there are companies addressing a large market, with a unique business proposition and superior management. That, in turn, means the company can deliver.

If you look at the last 10 years, the Nifty has delivered around 15% earnings growth. But here is a company that, given all these positives, is likely to deliver double that earnings growth. In such a case, I may have to pay a higher price. However, what we need to keep in mind is whether this growth is seasonal, cyclical, or much more long-lasting. If it is cyclical, we should be extremely mindful of paying a high price.

Kshitij Anand: And how should investors think about valuation in high-growth stocks? What is the golden thumb rule to avoid overpaying for growth?

Srinivas Rao Ravuri: First, focus on the business model — whether the underlying business has the potential to deliver sustainable long-term growth. Even if it does, it is important to remember that we cannot be masters of everything. I am a professional investor, and even then, we are not here to capture every possible upside from every possible company. Understanding the company and knowing what we are good at is important.

Focusing on the margin of safety is an essential part of risk management. A company may look great on the surface, and you may see brokerages, media, and everyone talking about how great the business is. But ultimately, valuations are paramount. As I said earlier, keeping it simple — paying more than 50 PE means you are extrapolating current growth for many years ahead, and your returns may end up depending more on PE expansion than on earnings growth.

Kshitij Anand: During times of euphoria — especially post-2020, when markets saw a strong rally and SIP contributions rose sharply to around ₹31,000 crore — many investors started investing aggressively. For someone investing in individual stocks, what is the thumb rule for valuation during such euphoric phases? Should one buy less, hold tight, stay out, or wait for dips? What would be your advice?

Srinivas Rao Ravuri: The first thing to focus on, even more than stocks, is asset allocation. What percentage of your savings or surplus are you allocating to each asset class? I have seen people debating very passionately about a particular stock or equity mutual fund, while only 5% of their surplus is actually invested in equities.

Asset allocation is the starting point. That is where investors should seek expert advice from financial advisors to determine their risk appetite and decide what percentage of their money should go into each asset class.

Second, during euphoric times, it is important to reduce exposure to equities and increase allocation to fixed income. Within equities, what we do at Bajaj Life is gradually shift portfolios from high-PE, cyclical companies to more stable businesses, such as utilities, and increase the overall quality of the portfolio.

So, first, adjust at the asset-class level. Second, within equities, move toward relatively safer and less volatile sectors and stocks. That is what we believe investors should do.

Kshitij Anand: And for long-term investors, is valuation about entry price or time in the market? What is the golden balance rule there?

Srinivas Rao Ravuri: I would say time in the market builds wealth, but the entry price determines how well it compounds. Staying invested is essential, but valuation defines the starting yield on capital. To that extent, a good entry point with a margin of safety reduces your downside risk. Our approach is to own businesses that generate sustainable growth, but to enter them thoughtfully.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Assets for sale in Trafford include a town hall and a former library

Car parks, toilets, derelict schools, a town hall and a former library are all to be sold by cash-strapped Trafford council in a bid to generate money.

Recent weeks have revealed the extent of the authority’s financial woes, with bosses needing a loan of more than £12 million from the Government to balance the books – something they are legally bound to do. Residents are also set to be hit by one of the highest council tax rises in the country after special dispensation was given for a 7.49pc hike in the charge for the second year running.

But these measures are still not enough to solve the problem. Some £17 million of savings are lined up for the coming years, while Trafford is also looking to sell off land and buildings to bring in some more cash.

Among the assets expected to be disposed of are Altrincham Town Hall and the former Altrincham Library, documents reveal. Two disused schools, the former Moss View Primary School site, in Partington, and the former Trafford High School site, in Flixton, also feature on the list.

A number of car parks, a block of toilets, the former Davyhulme Youth Centre and the Jubilee Centre – a community centre in Bowdon – are also proposed for disposal. Trafford has said it needs to generate around £10 million through land and property sales to fund its capital programme over the coming years.

Capital funds are money set aside for projects, as opposed to day-to-day operational costs. A full list of the sites planned to be sold can be found below.

All of the sites listed have been labelled “surplus” by the authority, which said getting rid of them would reduce its costs and its maintenance backlog while also creating regeneration opportunities.

The authority has also identified a number of areas it wants to redevelop itself, either alone or as a joint venture, to increase the potential for profit generation from them in future years. These include the former Sale Magistrates site, in Altrincham, and land in Lacy Street, Stretford, where the former probation office once stood.

Sites to be sold

• Former RBS Bank, Central Road, Partington
• Stamford Quarter and Stretford Mall
• Former Altrincham Library, Stamford New Road, Altrincham (1st Floor and ground floor)
• The Jubilee Centre, St Marys Road, Bowdon
• Wharf Road Garages, Altrincham
• Altrincham Town Hall
• Land at Balmoral Road, Altrincham
• Land at Central Way, Altrincham
• Brown Street Car Park, Hale
• Land at Irlam Road, Flixton
• Land at Lime Road, Stretford
• Land in Davenport Green
• Land at Seymour Grove, Old Trafford
• Former Primary School, Moss View, Partington
• Former Trafford High School
• Redundant Cemetery Chapels – subject to operational review
• Land at Keswick Rd, Moss Road, Old Trafford
• Land off City Road, Old Trafford, M15 4FA

• Car Park Eleventh Street, Trafford Park, M17 1JF
• Toilets, Third Avenue, Trafford Park
• Former Davyhulme Youth Centre, Davyhulme
• Priory Road, Bowdon
• Land at Firsway, Sale – New Access to site
• Car Park Empress Street, Old Trafford, M16 9EN
• Sites to be redeveloped
• Partington Town Centre Site (land to the rear of Partington Shopping Centre)
• Former Sale Magistrates Site
• Stokoe Avenue, Altrincham
• Former Tamworth Court Site, Old Trafford
• Chapel Road, Sale
• K Site, Stretford
• Lacy Street Land Assembly, Former Sorting Office, Probation Service Building, Lacy Street Car Park
• Land at Oakfield Rd/Moss Lane, Altrincham

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