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 643 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 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
Mittersain: India gaming GST moved to 28% on deposits versus 18% on rake
“Now the latest tax on the GST is 28% on deposits, which was earlier 20. I mean, gaming companies were paying 18% on their rake, right?”
Western Nations Faked Emission Reductions by Exporting Manufacturing to China
“China became part of it in 2002, and it's a clear relationship between when China joined and how its emission curve went up. Now, the problem is not that China's emission curve went up, but the fact the rest of the world thought they had reduced their emission…”
Developed Nations Deliver 75% of Global Climate Finance as Loans, Not Grants
“So that's 75% is loans. So it's more or less loans.”
Unmetered Farm Power Let Indian Industries Steal Electricity and Hide Losses
“What happened in India is that they said we'll give free power to farmers. The farmers stopped being metered, right? And when the farmers stopped being metered, you didn't know what was happening to the electricity. And so industry started conniving with the l…”
India Directs Only 3% of Its Energy R&D Budget Toward Renewables
“So energy R&D is forty-five billion. Right? A hundred and fifty million of that goes into clean energy R&D. A third of it goes into fossil fuels. The rest is nuclear. Over all these years, Three percent is going into clean energy and going into renewable energ…”
Mehta: Ather has the world's largest electric two-wheeler R&D team
“Yes, that's why I said it's the world's largest R&D for two wheelers, electric two wheelers.”
Hydrogen fuel cell vehicles cost three times more to run than EVs
“So whatever the cost of electricity tomorrow is in one rupee, it's going to cost the cost for hydrogen fuel cell vehicle will be three times more than a battery-operated electric vehicle.”
Tarun Mehta: Ather's charging connector is India's national standard
“Charging standard has become the national standard.”
Maini: Swappable battery EVs are denied subsidies given to fixed-battery versions
“In their showroom, there's a vehicle with a fixed battery and one with swappable. Both have identical vehicles. You can't tell the difference between them. You buy the one with fixed, the customer subsidy comes through. You buy the one with swappable, the subs…”
Amlani: Cloud Kitchen Mortality Rates Are Twice as High as Restaurants
“For the average, if what you think it mortality rates in the restaurant businesses are high, the mortality rates in the cloud kitchen business are twice as high because you, the data which we've seen, I said. 5000 restaurants a month are going off platforms.”
Biyani: 30 million households drive 60% of India's total consumption
“The 30 million, what do you call, three crore households in this country, are basically contributing to 60% of India's consumption.”
Nithin Kamath: The world's first trillionaire will emerge from climate solutions
“I think the first trillionaire on this planet will be someone solving for climate problem.”
Munjal: Tier-2 and tier-3 Indian engineering colleges have 2-10% placement rates
“What about the 97%? They go into these engineering colleges in, let's say tier two, tier three cities. Their job placement rate is Two percent, five percent, 10%.”
Kamath: Large agricultural companies exploit farm exemptions to avoid taxes
“There are people like Monsanto, big agri companies who earn 305 hundred crores a year. They don't pay tax because they take advantage of that farm loan waiver.”
Kamath: Social media platforms will start charging for data access
“We will probably evolve to the point that everybody starts charging for access to their data, right? Like Twitter will charge, Reddit will charge Quora will charge, social media will charge in its own way.”
Kumar: Rameshwaram Cafe runs on 70% gross and 30% EBITDA margins
“I'm just saying it's a 70% gross margin. They must be doing EBITDA and monthly level generating around 30%. Minimum.”
Umang Bedi: Dailyhunt is profitable
“We were just burning a little bit more in that phase of daily hunt. And now of course it's profitable”
Chhatwal: Tourism Generates 3.25x Gross Economic Value Multiplier
“The, all the studies show that for every one rupee spent in this sector, the gross economic value that gets added is 3.25.”
Chhatwal: Every hospitality job creates 8 to 10 indirect jobs
“Every job created in this sector creates eight to 10 jobs indirectly.”
Chhatwal: Dubai and Singapore combined equal India's branded hotel room supply
“Dubai and Singapore together have the same branded number of rooms as all of India.”
Magow: IRCTC commands 80 percent of Indian online rail bookings
“And if you break that into then IRCTC versus all the other OTAs, including Make My Trip Go, Ibibo, Redbus, others, Zig Ziggo, and the others, all of us put together will be 15, 20%. 80% is IRCTC.”
Chhatwal: 88% of IHCL revenues come from asset-heavy properties
“88% of the revenues come from the asset heavy because you need a lot of management contracts or a lot of royalty fees or a lot of income in form of other forms of branding fees to come to the level of one owned asset, let's say in Mumbai.”
Chhatwal: Foreign charter tourism to Goa has largely stopped due to conflicts
“The quality of the tourists coming was lower. Their spending power was lower, but we got a lot of charters. Which, because of the Russia, Ukraine, because of the Middle East, has stopped to a great extent.”
Chhatwal: The 50 tourism destinations announced by the Finance Minister remain unidentified
“We had this announcement by the Honorable Finance Minister on 50 new destinations. To be developed on a mission mode. But we still haven't identified which are those 50.”
Kamath: China's government has failed to break even on high-speed rail
“But those are not profitable ventures. Like even the Chinese government till date has not been able to break even on that. It requires a lot of capex.”
Tang: CATL sells at a 10% premium due to superior safety
“Tier two Chinese companies, the ratio of their safety issues always much higher than top, like BYD, like CTL.
So that's why CTL always sell about the 10% expensive than
The tier two.”
Tang: Sodium raw materials cost one-tenth of lithium equivalents
“So the price of cobalt sodium Combinates, it's one-tenth of the lithium components.”
Tang: Sodium-ion batteries utilize the same manufacturing facilities as lithium
“We are the same level with lithium. So we use actually the similar facility with lithium. So we just change the material. So so that's why most of the lithium battery company, they claim they have sodium product.”
Klein: China's annual trade surplus surged to $1.1 trillion post-COVID
“If we look at China's external balance with the rest of the world in the years immediately leading up to the pandemic, the trade surplus, depending on how you measure it, was around, you know, 100 to two hundred billion dollars a year, which is, you know, In o…”
Ning Zhu: RMB's Share of Global Settlements Has Barely Grown in a Decade
“I think in terms of the total settlement for the whole world, R&B has not gone up a lot in the past decade or so.”
Armstrong: AML enforcement seizes only about 1% of illicit global finance
“There's some estimates that only I think about one percent of all illicit activity is frozen or seized as a result of AML activities globally.”
Armstrong: Coinbase stores more crypto than any other company
“We're the company in the world that stores more crypto than anybody else.”
Armstrong: Coinbase gained US regulatory approval for crypto perps and options
“So we actually just today got approval for crypto perps and options tradable by U S people. I think we're the first regulated exchange in the U S to do that.”
Christodoulides: Turkey occupies 37% of Cyprus's territory
“The fact that Turkey still occupies 37% of the territory of the Republic of Cyprus.”
Prasad: Global drug impurity limits are identical, but enforcement varies drastically
“The standards are the same everywhere. How their enforced are different. I think the standard of Indian regulators limits on impurities, impurities are perfectly fine.”
Prasad: China originates 70% of novel antibody-drug conjugate biologics globally
“70% of the biologics, which are novel biologics ADCs are coming from there.”
Prasad: Novel biologics require lower capital intensity to develop than small molecules
“You can also generate novel biologics at a relatively lower intensity of cost than small molecules. It's easier to develop.”
Prasad: Innovator drug production costs represent only 3% of the price
“See, the cost of production is not material during the patent time. Right. So they don't. Three percent, four percent.”
Prasad: China now produces 29% of all new cancer drugs globally
“29% of all new drugs are now, I think, in cancer are coming from China.”
Prasad: China saw approximately $50 billion in pharmaceutical deal making last year
“Fifty billion or so last year's deal making in from China. And all the global trials are coming from China now.”
Marks: Annual S&P 500 returns are almost never between 8% and 12%
“The return on the S&P, which averages 10, is almost never between eight and 12.”
Marks: Oaktree's 40-Year Default Rate Is Roughly One-Third Market Average
“Over the last 40 years, on average, something like 3.6 or 3.7% of all high yield bonds have gone into default every year. And our default rate has been Roughly a third.”
Banga: Mastercard hit $360B market cap while Citi was under $100B
“And then from there, I had a chance to be one of the candidates to be the next CEO of Citi, which was 250,000 people. And I quit and became the CEO of Mastercard with 4000 people. But when I left, Mastercard's market cap was three hundred sixty billion, and ci…”
Staniszewski: ElevenLabs does not depend on OpenAI for voice models
“Where we today, of course, don't depend on open AI for voice and we can stay ahead and build models that are both great in English, great internationally, great across India languages, great across European languages.”
Amodei: Anthropic advocated for AI regulation while competitors and government opposed it
“We've said that there should be regulation of AI when all the other companies and the administration have said there shouldn't be regulation of AI.”
Amodei: Anthropic's Long-Term Benefit Trust appoints majority of board
“We have an unusual governance structure, something called the long-term benefit
Trust.
you know, it's a body that, that kind of ultimately appoints, you know, the majority of the board members for Anthropic and is, you know, made up of financially disinterest…”
Amodei: California AI bill advocated by Anthropic exempts sub-$500M revenue companies
“The regulation we've advocated for example, SB in California exempted everyone who makes under five hundred million dollars a year in, in in, in, in revenue, right? SB, SB was a transparency law, which you know basically requires companies to you know, to show…”
Amodei: Anthropic studies prove AI usage can de-skill human coders
“You know, we did some studies around code and showed that, you know, depending on how you use the model, you know, we can see, De-skilling in terms of writing code, right? There are different ways to use the model, and some of them don't cause de-skilling, and…”