The Ledger, every show

“I have a strong view that we will never, never have equality of wealth. In fact, chasing that is actually a bad idea, but if you let people do well and chase wealth, they'll have enough wealth for everybody else and we could take a lot of people out. And I thi…”

“And therefore, a lot of Western markets love to come to India and say, oh, India is the next China. It's not, because our per capita income is never going to beat and grow like China, because before China started becoming affluent, 96% of Chinese urban women w…”

“So every time you see that the product efficiency delta is greater than or equal to four, three things happen. It is irreversible. Second is that you have very high tolerance For it to fail. ... And the third thing is that I call it the UBP, unique brag worthy…”

“India still has large arranged marriage. And if you are a founder and a failed founder, your chances of getting a person to marry is still a hard thing to achieve.”

“So when you are not paid an hourly salary, the concept of time is not the same. And then the concept of time is not same. Paying for time is hard to do.”

“All developing nations are low trust by design because the institutions are not strong enough to kind of really, really take care of many things. What happens is there is concentration of trust. So you will see that super apps, superstars, super companies all …”

“The largest employer of the world is inefficiency. And if you take that away too quickly, we'll have a very, very jobless world.”

“No matter what the job is, you make that the minimum criteria that if they cannot use that, leverage that, they'll become a liability in five years anyways.”

“One of the things I've learned is that profit pools of a country Tell you a lot about what the country values and trying to copy somebody else's profit pool to your country will not be a wise idea because the country's values are demonstrated in what profit po…”

“To me, wealth is nothing but information asymmetry. All the best companies in the world have unfair information asymmetry.”

“There'll be a temporary period of making a lot of money on lab grown diamonds which will kill its, it will become parasitic on the status of diamonds and destroy all its profit pools.”

“And I often tell people that this is the biggest curse of successful parents, that that's the only gift they'll not be able to give to their kids, the gift of struggle that they had.”

“The most fascinating thing that I saw was Zach talking about the utility of Meta being better than Vision Pro and their product. And that's exactly going to work well for Apple because when you try to make the product more utilitarian, it loses status. And if …”

“They are okay to be mocked or have lower dignity or lower status as long as they get the financial upside of it. So I think that's where the status and wealth driven societies mindset comes in that they are absolutely okay to reduce their status as long as the…”

“I would go to the extent of saying that 80, 85% of people who are having more than 200 dollars of investment in any of these assets are people from this community.”

“And I think, therefore, a lot of Western companies struggle to make monetize from these markets. They can get a lot of DAUs and MAUs from this market, but rarely ARPU from this market because they don't understand what people pay for over here.”

“So products that sell convenience and save you your time rarely monetize, which monetize a lot in the Western society, because everybody understands the value of hours.”

“Hinduism is an, I would say, not as scalable as, let's say, many of the other religions, because it's not standardized. There is no one book, no 10 rules, no one God. So what do you really scale? It's an open source religion which people make and built on some…”

“By design, gross margins exist when you allow human beings to jump their social status. And gross margins disappear when you do not help them increase their social status.”

“I believe the future of SaaS companies is going to be that where the next SaaS company will just say, oh, just use our tool for free. But by the way, we'll charge you and cross sell you some lending, some loans, some technology, some value added services which…”

“Less than six percent of urban Indian women have financial income of their own.”

“I wouldn't be able to find one company that makes more than 10 dollars, ten million dollars annual revenue by selling software to Indian businesses.”

“India has hundred unicorns. I would go on to say that I'm the only founder in the hundred unicorns, which has a humanities background. Everybody else is STEM.”

“Every time the delta of efficiency score is greater than or equal to four, three things happen. It's an irreversible behavior. Once you experience a delta four product or service, you cannot go back. There is obviously very, very high tolerance... The third th…”

“The total GMV that Amazon would make in India would easily be done by a small European nation after being here for like maybe seven, eight years that they have spent over here because the people who can spend just do not exist.”

“The core human game is to constantly improve our social status so that we improve our mating success or our success of our progeny.”

“There are enough wedding photographers, I know, who make more than ten million dollars of revenue.”

“I think being shameless Is most important ingredient in ability to connect dots. Shameless people make more conjectures without any fear of judgment.”

“I found an interesting hypothesis that the fastest way to make somebody feel okay about what they're ashamed of is to make them feel proud about it. For example, the path to from shame to normalcy is through pride which has obviously used and misused in differ…”

“Everything that we are proud of are the Handles that we give to other humans to manipulate us. So every time, everything that I write on Twitter as things that I'm proud of, like people's intros and descriptions are the trigger points put in public.”

“In fact, I believe that all the people who demonstrate the need to be fans are the people who are easiest to offend, ah, in life. I think being fan or having favorites is telling the world that you're extremely easy to offend.”

“People are not more intolerant. They are just running out of processing power per day more than anybody else in the humanity ever did. So it's not unusual. To like authoritarian leaders, because I can't process all this information.”

“Historically, people were hired for years of experience. I think in future, people will be hired for experiences per year.”

“When does a startup become a big company? Like, is one billion dollar valuation makes you a big company? I think the answer is very simple. When you reduce The concentration of people with very high slope in the company.”

“Elon is going to probably have, I don't know, five, five hundred billion dollar plus companies, maybe six.”

“A lot of CEOs have done well because they follow the dharma of the founders quite well. They have not diluted the dharma of the founders who have Started these companies and managed to sustain that.”

“In fact, I would say that it actually makes it very hard to be a founder if you've been a great CEO, because you've turned into this sustainer versus destroyer or creator, right?”

“My guess is that Meta would not have more than three or four dollars per user per year monetization in India.”

“Many Indian languages do not have a word for efficiency. And that's true for many Asian languages. The word for efficiency does not exist.”

“And because we have a lower female participation of labor, India is probably the only market where female fashion spends is less than men's fashion spends.”

“I believe, ah, envy is hyperlocal. We do not envy Elon Musk for all the stuff he does because he's so far away, but we envy our own because they were just like us not many years ago.”

“If somebody who's done anything better than me gives me any amount of criticism I will absolutely flip and make all the changes and evolve. And I seek feedback all the time from people. But if I start taking feedback from everybody who do not understand and nu…”

“To me, wealth is nothing but storage of energy. And therefore the reason wealth is not zero sum because energy is, and we are just finding all ways to convert energy in our advantage.”

“The core human game is to constantly improve our social status so that we improve our mating success or our success of our progeny.”

“But according to me, you cannot develop substance, net worth, wealth, experience, unless you're constantly willing to risk your reputation.”

“And I think most Western companies do not understand Asian society. The Maslow's hierarchy of Asian society is completely different to the Western society.”

“It is impossible to imagine scaling in life without standardizing. And standardizing is the enemy of soulfulness.”

“Standardized things are easier to disrupt than non-standardized things.”