India

“There are already a set of countries that have laws on the books that outright banned the sale of gas-powered cars. The Netherlands by 2025, also Norway, India by 2030, Scotland by 2032, and so on.”

“And this is the thing I've been talking a lot about that people occasionally get angry about, because they think it won't Can't possibly come true, but I'm convinced it's going to come true, which is I think everybody on the planet by the end of the decade is …”

“Xiaomi is starting to think, but it's starting to go international, but only to middle income markets, only to India and Brazil and places like that, not to develop markets. Much harder for them to come to the USA.”

“Last August, they surpassed Samsung as volume shipment sales in India. Last week, they passed Samsung as the number one smartphone manufacturer in India, right? They're now a top 10 global OEM, right?”

“Smartphones, Android smartphones now are down to 25 dollars, right? And so India, Pakistan, you know, whole range of developing world countries, Indonesia, you know, you go to the local store and you literally get an Android smartphone for 25 dollars, right?”

“In India entrepreneurs have been able to sort of bootstrap from low end body shopping, sort of software programming into larger scale software development.”

“The LinkedIn of India is LinkedIn. The Facebook of India is fundamentally Facebook. The Twitter of India is fundamentally LinkedIn. This is not true in e-commerce.”

“Because of falling cost of telecommunication, many of those jobs were outsourced to the Philippines and India. And now you have this Freakonomics reverse thing happening where those jobs are coming back to run in U.S. Data centers as software, not as U.S. Work…”

“You look at what's happened in India, they've had a hundred and ninety million people open up bank accounts in the last four years”

“For example, to give you an example, when you look at a series A, U.S. Startup, or a series B, if, you know, you sort of get surprised if they say I have 150 people or 200 people. Like, that's a lot of people. In India, it's quite common to say I have 650 or 9…”

“I'd say in China, I don't know if mature is the right word I would use for it, but I would say it's far more advanced than what I do see in the States and probably what's happening in India.”

“30% of net sales in India is delivery, versus Amazon in the U.S. Says it's about 10 or 11%.”

“I do think there's a lot of elements in execution that's quite different and local to those markets. That's very different from The U.S. So it's not necessary that a U.S. Player going into those markets has all the advantages. I think there are local advantage…”

“Cash on delivery is still predominant, and depending on who you ask at any point in time, people would say it's as high as 50% or 70%.”

“One interesting thing that I learned in my recent India trip is that 90% of the funding is actually from foreign money and it's not from domestic.”

“Credit card penetration in India is only about four percent.”

“You don't have an Alibaba yet in India. You don't have the buy, the Google of India is Google. The Facebook of India is Facebook.”

“I think if you look at internet usage globally, like the number one country is China. As Connie mentioned, it's like six hundred and fifty million users. The number two is India. So United States is actually number three.”

“The average data speed is like two megabits per second, and mobile is even worse than web.”

“In India, I actually see the attrition problems to be as significant as in Silicon Valley. You do see that a lot of engineers move across startups. They switch every two years or every three years, and there's heavy competition in terms of compensation and pay…”

“So what happens in China or India or Africa, I think could actually be, you know, even, even more change, you know, Kind of like, you know in a way, let's say, we'll jump over the old internet and go purely mobile, and the ways that will deliver services is pr…”

“And that's why, you know, the Philippines and India and Vietnam, these countries that have the most such special economic zones are among the fastest growing countries in the world.”

“The Philippines now has more workers and more revenues from call centers than India does because they physically made a plan.”

“I think that's a structural advantage for the Indian market, which will ensure that in perpetuity, the economics of e-commerce in India will actually be quite good. Because as people buy more and more high margin stuff and more discretionary items online, the …”

“It costs about a dollar to ship a product in India. Nationwide.”

“That's why cash and delivery was so high, like going up to 70, 80% at one point as a percentage of all transactions, because it was just very,”

“Controlling doesn't necessarily mean owning. You can choose to own and build certain parts of the supply chain, because there aren't existing high quality service providers, which is the case for some parts of the supply chain in India. But for certain parts o…”

“Amazon itself says that their delivery costs, for example, as a percentage of transaction in the U S is a lot lower than in India.”

“The largest fashion brand in India would be maybe two hundred fifty million dollars. There are a few that are at that scale, but that's the scale, even though the market itself is tens of billions of dollars.”

“Also, I think that it's become a big deterrent. For new players, because unless you've built those capabilities, why would your service quality be better than someone who had? So it's actually become a deterrent for hyper-competition in India.”

“About 80% of India now has access to a mobile phone. A couple of decades ago that was just 10%, and so we've not just seen an increase in consumer surplus here, but we've seen, like, a tremendous reduction in inequality of access that just doesn't get picked u…”

“Americans typically contrast their own nation with Western Europe. That's the tradition. And then America feels so dynamic, because Western Europe is even more sluggish. And stagnant. And that's a big mistake. The notion that you should stop being Tocqueville.…”

“No one imagines India is going to displace the U.S. As the predominant power in Asia.”

“Credit cards just aren't going to spread. You know, the middle class of India is not going to have plastic credit cards. Nigerians are not going to have Visa cards or MasterCards anytime soon, because there's nowhere to swipe them, and people can't get credit …”

“If you look in people in India today are the result of a massive convulsive mixture between two groups that occurred around three or 4000 years ago, and we now know that from lots of lines of evidence, including ancient and modern DNA analysis. Now that proces…”

“China, India, and the Islamic empires were a lot like the Merck, Pfizer, and Novartis of today. They were global, everywhere, dominant. They're phenomenal at franchises. So in India, you've had the Taj Mahal. You know, in China, they built the Great Wall and j…”

“Mukesh Shambani, who's the richest man in India, has this program called GEO where he is literally providing internet access to the five hundred million lowest income Indians like from, it's like literally, it's like free for six months, and then it's like a d…”

“It's actually a lot larger that some of that excludes a big chunk of China and India and a couple of the markets. Easily north of three billion.”

“Others, like, let's say, India, that's, like, more of a civilization state. There's lots of different ethnic groups. India is more like Europe, you know? Like, the South Indian and North Indian are, like, historically as different as, like, you know, a Spaniar…”

“There've been a hundred unicorns in India. They're now kicking off a new generation.”