The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 855 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 9 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Reddy: Subko pour-over coffee and retail bean sales grew 81% year-on-year
“The data that we have year on year growth of pour over coffee, just black, right? 81%. From last financial year to this one. Same thing with the retail beans.”
Kamath: Super You protein chocolate is sold out across retail categories
“Super U. Yeah, we're a partner with him. If anybody came in and tried, here's a protein bar with 20 grams of protein, which costs 200 rupees in India, didn't really work. But him having come and said, here is a better Kit Kat. It costs 60 rupees, has eight, ni…”
Johnson: Sperm Counts, Fertility, Birth Rates, and Sexual Activity Are All Falling
“You have on one side, sperm counts going down, fertility is going down, birth rates going down, sexual activity is going down like all these indicators of like, of humans having sex and You know, like having babies, they're all going down.”
Kamath: India's Most Expensive Real Estate Has the Worst Air Quality
“In India, we pay more for real estate wherever the AQI is the most. Delhi is, is the most prime real estate in the country and the worst air quality.”
JC: Growth Hormone Use Can Cause Heart and Organ Enlargement
“One of the side effects of growth hormones is growth of other organs, which is the unintended consequences. Let's say you take growth hormones to improve your muscle hypertrophy. Now, heart is also a muscle. So people observe megaly in their heart, right? So h…”
Prakash: Most stem cell clinical data supports joint and knee treatments
“I think the most data is on stem cell therapy for joints and knees. I think there is some reasonable amount of data for that.”
Chouksey: PRP therapy effectively stimulates hair follicles and roots
“It works. It helps because it's basically stimulating your hair follicles and basically nourishing your hair roots with you know, like plasma rich blood.”
Chouksey: Indian health AI will fail without local training datasets
“Today, India does not have quality data sets, and somebody will have to figure out. Either they create their own personalized labs, work with wearable companies like us, or work with hospitals. But we need trainable data sets. Without trainable data sets, our …”
Johnson: High BPA levels correlate with substantially fewer eggs in women
“So a recent study showed that women with high levels of BPA produced substantially fewer eggs and ovulation. That contaminants reduces the body's production of eggs.”
Modi: Took personal responsibility for Chandrayaan-2 setback before ISRO scientists
“लेकि मैं सेटबेक से रोने दोने करके जिनी की गुजानने वालों मैं नहीं था। मैंने का मैं सुबह गया। और सभी साइन्टिस्टों को मैंने का अगर कोई फैलियर है तो जिम्मेवारी मेरी है। आपने प्रयास के आप निराश मत होगे।”
Birla: Kumar Birla Has Lost His Temper Just 18 Times Since 1995
“I've lost it 18 times in 30, 29 years.”
DeepMind was founded on the premise that reinforcement learning leads to AGI
“There was a big wave of interest in reinforcement learning about, you know, a dozen years ago, and companies like DeepMind set themselves up with the idea that reinforcement learning was going to be the key element towards building truly intelligent machines.”
Shankar: Only 4% of family businesses survive into fourth generation
“So only, I think, I was reading somewhere that 36% of businesses get into second gen, and then maybe about 11 or 15% get into third gen, and maybe only four percent get into fourth gen.”
Shankar: Bengaluru Housing Inventory Overhang Sits at Only Nine Months
“Bangalore has an overhang of, what, three and a half quarters, which is nine months or so, and just to get projects approved, it takes nine to 12 months.”
Shankar: Listed Indian Real Estate Developers Operate at Slim PAT Margins
“Actually, if you look at the listed entities, the margins, like you said, profit after tax is very slim. It's very slim. That's it. That's in a, yeah, in a good year. Otherwise, sometimes it's a high single digits also. Pat, I'm talking about.”
Shankar: Brigade Towers land delivered a 250x to 300x return
“When we started Brigade Towers on Brigade Road, it was 200 rupees a square foot. Today, that same area could be 55,000 rupees a square foot or even, you know, 60,000 rupees a square foot. And that's like a 250 to three, 300 X jump. You know, and if you look at…”
Razack: Mumbai municipality is India's richest from property approval fees
“Today, the Mumbai municipality is the richest. They get tens of thousands of rupees as fees, and that is plowed back into the infrastructure.”
Shankar: Bangalore adds 800,000 people every two years
“Every two years, Bangalore adds about 800,000 people, like which is the size of like a Seattle or something.”
Virwani: Indian Commercial Office Rentals Stayed Around $1/sq ft for 20 Years
“When you look at it in terms of from a multinational, you know, spend standpoint, India is still pretty much like one dollar rentals. They've been one dollar rentals for the last, you know, 20 years.”
Shankar: Office development returns in India have compressed to high teens
“In office, you, while you get the annual yield of whatever, eight percent or nine percent, between seven to nine percent, you actually make your money when you sell it also, or you put a capital value to it. So then you have a cap rate of, say, eight percent, …”
Nilekani: Aadhaar reached 600M enrollments before I stepped down
“I was in the government for about four and a half years, and I had made a commitment that I would deliver six hundred million people with Aadhaar by the time I quit, and I did that. So when I stepped down, I had, you know, six hundred million people had an ID,…”
Kamath: Luxury giants LVMH, Kering, and Burberry face multi-decade sales declines
“If you look at LVMH, if you look at Kering, which owns Gucci, if you look at Burberry, their sales are declining for the first time in a multi-decade period. They're starting to fire 10% of their staff.”
Nithin Kamath suffered a stroke 15 days after his father died
“Came back to Bangalore, day 15, brother has a stroke. And then back to the hospital and while brother has a stroke, sister-in-law, so we're a tiny family, father, mother, brother, his wife, and their one kid. While Nitin has a stroke on the 15th day, his wife …”
Khaitan: Diageo's market share dropped to 20-25% after offloading cheaper brands
“Now like Diageo has given off the less expensive brands to Inbrew. Earlier their market share would have been about close to about 35. So now they'll be same about 20, 25.”
Shenoy: Macro lager beer producers achieve 55% to 60% margins
“With extremely high levels of efficiency, if you are producing mass macro lagers, you probably get into the range of between 55%. And because they also recycle, a lot of bottles come back. It's very efficient in terms of cost structure. And it can be stretched…”
Shenoy: India consumes ten times more hard liquor than Vietnam
“So the interesting thing is in India is the only country in the tropical zone where you do roughly around three hundred and fifty million cases of heart liquor, considering you also country regular spirits also, and about the same quantity of beer. But if you …”
Khaitan: India drinks 400M cases of hard liquor annually
“Four hundred million is the hard liquor. So four hundred million cases. Country liquor would be again a three hundred million cases market.”
Shenoy: Setting up a small homebrewing kit costs under 5,000 rupees
“You don't need more than 5000 rupees to create a small homebrewing kit at home.”
Khaitan: 98% of Brandy in India Sells in the South
“See, I think brandy, 98% of the brandy sells in South.”
Singh: Women drinking more is driving Indian liquor market growth
“Women are definitely drinking more. There is no doubt about that. Like that is a big plus for us, for the growth also. So because the fact that there are many, many women joining into the drinking occasions, multiple times.”
Khaitan: Modern large-format retail makes liquor shopping safe for women
“That earlier, if you would have gone into any shop, you know, Aryana, Mumbai, women can't go and shop. They'll be looked down, like, you know, they'll not feel safe. But today, if you see the shopping experience, whether it's Bangalore, whether it is Gurgaon, …”
Suri: Alcohol brands cannot legally market their own event content online
“Legally event, alcohol brands in India, they cannot do their own events. They can do their own events, but they cannot market the content legally online post doing an event.”
Khaitan: Sponsoring the IPL requires a ₹100 crore budget
“IPL, if you sponsor, you have to have a budget of a hundred crore.”
Khaitan: Radico Khaitan contributes 26% of Uttar Pradesh's alcohol excise revenue
“And we contribute 26% of the state's revenue.”
Kamath: Indian Gen Z is drinking less alcohol than Millennials
“The data I'm accessing today is we typically tend to mimic the West in terms of consumption patterns in India. And the fact that the Gen Z are drinking lesser than millennials is something which is of a worry to me.”
Singh: Influencers acquire consumers far more cheaply than actors for alcohol brands
“So now good thing is, it's a far cheaper way to acquire consumers than actors.”
Khaitan: Radico sells a ₹5 lakh Rampur single malt bottle
“Like Rampur, that five lakh rupee bottle has written in Sanskrit on this. That happiness lies within.”
Suri: Gurgaon liquor stores get Diageo and Pernod to fund their construction
“But now nowadays in Gurgaon, it works on some bidding system. And then actually the store doesn't pay for construction. They go to a Diageo, they go to Perno and they said, this is my space. Turn it around in 30 days. And then it's a full branded store of a ce…”
Suri: Alcohol prices between Gurgaon retail and Delhi duty-free barely differ
“Duty free also takes a percentage of your sales, which actually now from Gurgaon to duty free, there's not too much difference, at least from Gurgaon to a Delhi duty free.”
Shenoy: Retail margins for successful Indian liquor brands run 12% to 15%
“The blended margin for a successful brand in the retail is somewhere around 12 to 15%, including your trade scheme. Nobody goes beyond that unless you are a very early brand and it's a push sale.”
Khaitan: Radico Khaitan's Indian single malt is priced higher than imported malts
“So today also, if you see Indian products are priced higher, like say our malt is priced higher than any of the well-known malts also.”
Singh: Delhi bars must buy premium Indian spirits in 12-bottle cases
“I can't buy a single bottle. I can't buy a single bottle of Rampur. If I buy, I have to buy 12. Which basically means, look at my inventory.”
Singh: Delhi Excise and CSD mandate the lowest national price to register
“Delhi has always wanted the lowest. CSD wants the lowest EDP. So they ask for it. They say, are we the cheapest in India? Only then you can register.”
Singh: Opening a bar in India requires roughly 30 different licenses
“Like, you're f***ing 30 license. Sorry. 30 licences. It's a lot of licences.”
Kim: US console and PC game budgets reach $100M to $300M
“In the U.S., budgets are, like, to make a game now is like a 103 hundred million dollars for like a, Or an HD or PC or console game.”
Mittersain: Ludo King surpassed 1B downloads but struggles to monetize
“It's a, we recently crossed a billion downloads, I think. In India. Yeah, but I. Yeah, monetization is a is a challenge.”
Agarwal: Top Indian esports players earn around 35 lakhs annually
“I would say people who have played at the highest level of e-sports, that is playing official tournaments for a franchise or not a franchise. We don't have franchise, but for a registered e-sports team, I think they could be doing close to 35 lakhs a year. By …”