Hemant Mohapatra Profile picture
Aug 24, 2019 13 tweets 6 min read Read on X
Recently met ~80 people in SF / Bay Area who were interested in moving back to India. Lots of interesting Qs; many misconceptions cleared, many known truths reinforced -- both good & bad. Here’s a sample of the top Qs & As 👇& reasons to move back:
Primary reasons seem to be: personal life in India is better, excitement about India's startup ecosystem, US H1B/green card woes, life in SF becoming too formulaic, and FOMO ("my friends are all making it big there").
Now the Qs:
1/ Main concerns before moving back? Traffic & Pollution. Live close to work (<30min at peak) + get a mask. Salary was another. The right salary solves a lot of issues. I wrote up a lifestyle comparison tool to help know what salary could work for you: docs.google.com/spreadsheets/d…
2/ +ive surprises? Daily hassles (bills, long lines, etc) & common civic sense were issues that I didn't face much of. Except airports & movies, never stood in lines. Bill payments of all kinds now on📱. Food, groceries, laundry, home repairs, etc now at your doorstep for ~free.
3/ Do you regret moving back? I get this Q a lot. In the last 1yr, I’ve never woken up to think “oh shit, wish I were back in SF”. Know what you are moving back for. If India is your last resort (e.g. H1B renewal got rejected), your adjustment will be harder.
4/ What roles do startups have trouble hiring? For Seed, it’s usually deep-tech/engg esp. AI & Cloud. For A/B, product & sales leaders become bottlenecks. Best of India is == best anywhere, but India needs more Sheryl Sandbergs and Eric Schmidts for every Zuckerberg and Page.
5/ What about crime-rate, inflation, etc? Focus on what affects you. If gun crime were a factor, no one would move to US. Inflation affects spend categories differently, e.g. food inflation in India was 2.x% in '19. I moved back not to save more, but for a 10x impact potential.
6/ Is there a gender pay gap? There is, and it depends on which industry you pick. Is it worse than the US? Korn Ferry data says it’s not, but I'd love for women to answer this 👇. In the blue-collar sector, India seems to have the worst gender-pay gap in the world.
7/ Why have so many Sr Industry veterans who moved to India returned back to US? Cultural fit & expectations. People return to India expecting it would have become Denmark while they were gone. Nope. If you keep one leg in the US boat, chances are you will pull the other leg in.
8/ I want to be a VC in India, what do I do till I return? VC is a local business, so it's tough to really have an impact from abroad. Angel investing is already too smart and hot in India for the best founders to care for your $$s.
9/ Do women feel safe working late nights in India at startups, given long hours? I’d love to hear this from the women. Tagging a few I know who've lived outside of India as well: @kmanjita @AkankshaHazari @shuvi @parul8ue @hena1220 @RachitaVora
@kmanjita @AkankshaHazari @shuvi @parul8ue @hena1220 @RachitaVora 10/ If you are a US native looking to move back, please fill out this form and we'll get in touch with you: docs.google.com/forms/d/e/1FAI… 🙏🙏

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More from @MohapatraHemant

Jul 5
So now that Nvidia has far outstripped the market cap of AMD and Intel, I thought this would be a fun story to tell. I spent 6+yrs @ AMD engg in mid to late 2000s helping design the CPU/APU/GPUs that we see today. Back then it was unimaginable for AMD to beat Intel in market-cap (we did in 2020!) and for Nvidia to beat both! In fact, AMD almost bought Nvidia but Jensen wasn’t ready to sell unless he replace Hector Ruiz of AMD as the CEO of the joint company. The world would have looked very different had that happened. Here’s the inside scoop of how & why AMD saw the GPU oppty, lost it, and then won it back in the backdrop of Nvidia’s far more insane trajectory, & lessons I still carry from those heady days:Image
After my MS, I had an offer from Intel & AMD. I chose AMD at 20% lower pay. Growing up in India, AMD was always the hacker’s choice - they allowed overclocking, were cheaper, noisier, grungier and somehow just felt like the underdog david to back against the Intel goliath!
Through the 90s, AMD was nipping @ Intel’s heels but ~2003 we were 1st to mkt w/ a 64-bit chip &, for the FIRST time, had a far superior core architecture. Oh boy, those were exciting times! Outside of SV, I haven’t seen a place where hardcore engg was so revered. Maybe NASA.
Read 18 tweets
Jul 2
Speed of execution is the moat inside which live all other moats. Speed is your best strategy. Speed is your strongest weapon. Speed has THE highest correlation to mammoth outcomes. Those who conflate speed w/ 'thoughtlessness' haven't seen world class execution @ speed. E.g.:
Many confuse speed w/ impatience. Impatience is your boss pinging you @ 9pm then calling @ 6am to check if a task is done. Speed is strategic. It is a permeated sense of urgency built w/ a shared belief that what you are doing is important & if you don’t do it, someone else will.
AMZN defines speed. Their 2015 SEC filing () is a must-read: (1) deliberate irreversible decisions (~10%?) (2) expedite all else. Founding teams need to learn how to apply judgment w/ <70% of data (<50% for early stage cos). Move fast, “disagree & commit”. shorturl.at/xDEU1

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Read 10 tweets
Jun 8
For those of you following anything SaaS, you'll note there have been a lot of calls around 'saas is dead' lately. If you are wondering why, I wrote about this last yr here👇. This isn't just about saas but rather a 50yr macro CAPEX/OPEX cycle at play under the hood. : shorturl.at/sJ4IZhttps://medium.com/@MohapatraHemant/capex-opex-supercycles-the-dusk-of-saas-and-the-dawn-of-ai-saas-8aa5cfe74c93
Over the last 20yrs, both the cost of building and distributing software has COMPLETELY crashed. 20 years ago, it’d take a 4yr CS degree to write software, today thanks to internet anyone who wants to work hard can learn to code. In 20yrs world has gone from 5-6M software developers to 60M+ today. Second, the cost of distribution has gone to zero thanks to SaaS. I remember the days MSFT used to ship us a new MSDN CD monthly; imagine if you had to burn 60M CDs monthly as MSFT today? Software is shipped hourly, globally, all at once to everyone now.Image
Result? A Cambrian explosion in SaaS Globally. Every revenue pool is fragmented across lots of players now. This is also why even at $200-300M ARR scale, network effects of brand/WOM are becoming harder to see -- there are very few to none of "no one gets fired for buying IBM" type businesses today. Public markets can't foresee a 300M ARR business going to 1B ARR as easily as they would in the past. Ergo, multiples compression across the board.
Read 9 tweets
Feb 10, 2023
This is for SaaS & esp India-SaaS but applies more broadly as well. I’ve been investing in India-SaaS since '18 & harping abt this endlessly to anyone who’d listen. I’ll say it again: the age of “business model innovation” in SaaS is over. It’s done. What does this mean? 🧵1/20
If you don’t have a fundamental product or tech innovation at the heart of your company, you are looking at a 10yr slog ending in a $5-10M ARR plateau → a [10-20]% CAGR lifestyle biz; a sub-$50M M&A by the category leader; or a slow death to $0. What changed, you may ask? 2/20
10yrs ago, “GTM as product” still had a shot. Building a basic SaaS product was *hard*. Cloud was in relative infancy. At GCP, the 1st thing customers would ask us was ‘why should we entrust our mission critical software, infra, data to a 3rd party?” Today we laugh @ this Q. 3/20
Read 20 tweets
Nov 12, 2021
gm! We are pumped to release v1.0 of Lightspeed's India & SEA Crypto market map spanning L1 & L2s, devtools, CeFi & DeFi, NFT & P2E gaming, DAOs, analytics & more across India+SEA. See shorturl.at/lwJQ4 for the full blog & what we are looking to invest actively behind: 🧵
Circa Nov'20 we were seeing 1-2 crypto cos/mo. Today we see 2-3 crypto cos/day! India & SEA are fast emerging global epicenters for crypto. Lightspeed has invested in 50+ crypto cos since 2013 - most of it in 2021 e.g. @FTX_Official @AaveAave @OffchainLabs @solana @PintuID & more
The opportunity set 2-3yrs ago in this region was primarily in CeFi -- e.g. @CoinDCX @CoinSwitchKuber @WazirXIndia @PintuID @indodax have scaled really well. Today we see a much broader opportunity set spanning infra, devtools, DeFi, NFTs, DAOs and Gaming - v. exciting times!
Read 10 tweets
Nov 7, 2021
The 2010s were all about the Cloud wars. The 2020s might just be about Chain wars. Before chain maxies, there were cloud maxies. I know because I was one while @Google. We ended up in a precarious race to the pricing bottom before learning few hard lessons & innovating out of it:
In early days of a stack, innovation first concentrates & then moves up. The 1970-80s were about the processor wars. The 90-00 were about the OS wars. Early days of cloud were about basic storage, compute, networks, before moving to higher level services e.g DB-aaS.
But Fragmented lower layers can't support upstream innovation; good luck building higher-order services when the underlying infra keeps breaking apart. So, not only does innovation concentrate, lower layers also consolidate as innovation starts to move up.
Read 15 tweets

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