Istanbul Times – Global & Local Highlights: August 18–24, 2025
Silicon Valley Wave: “Palantir Mafia”
Many of Silicon Valley’s hottest startups were founded by former Palantir employees, forming a tight-knit network called the “Palantir Mafia.” Alumni use WhatsApp groups like “Palantir Pals” for hiring, funding, and mentorship. So far, they’ve started 350+ tech companies, including a dozen worth over $1 billion, and venture funds like Palumni VCinvest specifically in them.
- Palantir, co-founded by Peter Thiel, is known for collaborating with US military and intelligence and has seen its stock rise fivefold in the past year.
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Istanbul Water Levels Drop
After a dry spring and summer, Istanbul’s reservoir levels have fallen to 44%.
- In March, levels were near 80%.
- Alibeyköy Dam dropped to 27.63%, and 8 reservoirs supplying Istanbul are now below 50% capacity.
- Previously submerged areas, once home to fish, have turned parched.
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Four Turkish Companies Make the “World’s Largest Employers” List
The list of the 500 companies with the largest workforce worldwide has been announced, and four Turkish companies secured a spot.
- Walmart leads the ranking with around 2.1 million employees, followed by Amazon with 1.56 million. Chinese manufacturing giants BYD and Foxconn also stand out for employing millions globally.
Turkish Companies on the Global List
- Koç Holding – Ranked 176th, this conglomerate employs over 132,000 people across its diverse subsidiaries.
- BİM – One of Turkey’s largest supermarket chains, employing 88,336 people, demonstrating its strength in the retail sector.
- Turkish Airlines (THY) – With its expanding global network, THY employs 64,570 staff from cabin crews to technical maintenance teams.
- Sabancı Holding – Active in services and retail, the company employs 62,786 people, making it the fourth Turkish representative on the list.
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Minimum Wage Remains Unchanged Amid Inflation
Despite persistent inflation, Turkiye’s economic board decided not to implement a mid-year minimum wage increase in July.
- Treasury and Finance Minister Mehmet Şimşek reportedly downplayed inflation concerns during closed-door discussions with officials.
- According to the Research Department of DISK-AR, 83% of workers earn close to the minimum wage, and 53% earn no more than 50% above it, translating to about ₺25,500 ($550) in 2024 terms.
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Istanbul Living Costs Surge 45%
The cost of living in Istanbul has skyrocketed to nearly $2,400 per month for a family of four, representing a 45.15% increase compared to last year, according to the Istanbul Planning Agency (IPA).
- July 2025 figures show expenses rose by ₺3,134 ($77) from June, reaching ₺96,599 ($2,370).
- In July 2024, monthly expenses were ₺66,550 ($1,636) — a ₺30,049 ($739) increase over 12 months.
This sharp rise highlights the impact of inflation on Istanbul residents.
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China Leads in Renewable Energy and Technology
While half of global carbon emissions are produced by the US and China, China is making major investments in renewable energy and energy independence.
- In April alone, China installed more solar panels than Australia has in its entire history.
- Under the “Made in China 2025” plan, the country is now a world leader in wind, solar, electric vehicles, and battery production.
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Google X & Internet Innovation
Google’s experimental division X previously developed Project Loon, aiming to provide internet via balloons.
- Led by Barış Erkmen, the technology for transferring data using light beams was tested in India.
- After Google canceled the project in 2021, the team formed Aalyria, developing the Tightbeam system: a laser-based internet system offering 100 Gbps at 65 km range, deployable on land, air, sea, and space.
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Web Privacy and Digital Regulation
A global shift is reshaping online privacy and anonymity:
- Some countries now require age verification via ID to restrict access to harmful content for minors.
- Critics warn this could lead to indirect surveillance and censorship.
- In the UK, these measures have already reduced porn website traffic by 47% and increased VPN usage.
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US Imposes New Tech Export Rules
Former President Donald Trump added a new measure for chip manufacturers Nvidia and AMD:
- 15% of revenue from sales to China must be remitted to the US government, on top of existing tariffs.
- Expected revenue is under $2 billion, but national security experts warn this could be a strategic mistake.
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Civilian Toll and Aid Challenges
- Leaked Israeli military intelligence data shows that 4 out of every 5 Palestinians killed are civilians, according to research by The Guardian, +972 Magazine, and Local Call.
- Gaza aid centers have become dangerous zones, with residents risking gunfire and crowd crushes for essential supplies.
United Nations Declares Famine in Gaza
For the first time, the UN-supported IPC officially declared famine in Gaza, putting over 500,000 people at serious risk of hunger.
- The UN has called for an immediate ceasefire to deliver humanitarian aid, warning that delays could drastically increase fatalities.
- Famine declaration criteria include: at least 20% of households experiencing extreme food shortages, 30% of children suffering acute malnutrition, and 2 deaths per 10,000 people due to hunger.
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Starbucks Considers Sale in China
Starbucks is exploring a potential sale of its Chinese operations, valued up to $10 billion, after losing half its market share over the past five years.
- Local rival Luckin Coffee has gained ground with lower prices and expansion into smaller cities.
- The move reflects Starbucks’ struggle with slowing economic growth and price-sensitive consumers.
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Palestine’s Oscar Hopeful: “Palestine 36”
The film Palestine 36, directed by Annemarie Jacir, will represent Palestine at the 98th Academy Awards.
- Set during the 1936 uprising against British colonial rule, it follows Yusuf, navigating life between his village and Jerusalem.
- Cast includes Hiam Abbass, Yasmine Al-Massri, Liam Cunningham, and Jeremy Irons.
- Premiering at the Toronto Film Festival in September 2025.
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Israel Defense Companies Barred from Dutch Expo
Israeli defense companies were banned from the NEDS Defense & Security Fair in Rotterdam due to social and political objections.
- Organizers cited the deteriorating situation in Gaza and concerns over public safety as the reason for the ban.
That’s all for today — catch you next week!