While we all work together to figure out what we can do to help in the current situation, I think the only long-term fix is for as many of us to move away from large cities. This is the answer to many of India’s problems. And now is probably the right time to work towards it. 1/5
Large cities are choking & will continue to break down every time we're tested, COVID today, could be water shortages, pollution, floods, etc. Moving to smaller towns & villages will also create livelihoods there & reduce carbon footprint. Also a much better quality of life. 2/5
The silver lining in these trying times is that people are more open than ever to move out of large cities. This (image) is from the latest survey we just had with our team at @zerodhaonline . 3/5
We are in the process of transitioning as many people as possible to permanent WFH so that we can enable this move out of large cities for those who haven’t, & make it permanent for those who have already moved. 4/5
We are also now hiring for permanent WFH positions for our Customer support team & soon for other teams as well. I'm hoping that other businesses who can, will also move whatever jobs possible to permanent WFH and nudge their teams to make this transition. 5/5

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More from @Nithin0dha

23 Apr
Every time we share a post on zerodha.tech/blog/, we get a lot of love from the tech community, but also questions like - Why FOSS? Why be so transparent? No security concerns sharing all this info? So yeah, answers from the man behind the scene - Dr. K 1/4
Why Free & Open source software?

1. Superior utility: Pretty much everything in the known universe uses FOSS, from the Mars rovers to our phones to washing machines.

2. Philosophy: Self-reliance, freedom, public good, collective innovation & growth.

3. Cost.

2/4
Why be so transparent & make it easy for competition?

If everyone thought this, there’d be no open internet or widespread innovation, or Zerodha! We take from FOSS & give back as we can. If talking about tech is a concern for a company, they've bigger issues. 3/4
Read 4 tweets
7 Apr
Right now, is probably the stupidest time for fintech firms like @zerodhaonline to be raising money. It is quite crazy the number of folks reaching out & the different deals. We might regret it in the future, but we are not raising & here are the counterintuitive reasons why. 1/7
We don’t need the money, so there’s no point in raising money just because someone is ready to give it to you. We are profitable, have zero debt. And we don’t spend on marketing and advertising which is probably the single biggest reason for folks raising money. 2/7
We don't want to grow just for sake of growth with random businesses. We want to build things around our core competency, do it well. We are partnering great founders for any adjacent opportunities through @Rainmatterin and fostering innovation in a highly regulated market. 3/7
Read 7 tweets
3 Apr
The big news from last week was the blow-up of a leveraged hedge fund Archegos & how it caused $billions in losses to its bank/broker. A primer to what it means to be a brokerage for such trades, the risk to reward, and more. 1/9
Being a broker is almost like running an insurance business, you keep earning brokerage income (like premium) & are always one black swan or mega volatile day away from giving it all back and more if one large client or many small clients default at the same time. 2/9
For all those who don’t understand, when customers trade with leverage or trade by keeping a portion of the value of trade as margin, if the customer loses more money than the margin, that is on the broker. 3/9
Read 9 tweets
1 Apr
This is a more systemic issue, not with one bank but across the board, banks to ed-tech to fintech. As long as you give revenue targets & push employees to get there, products that generate more revenue for the business over what is right for the customer will be mis-sold 1/4
Easier for employees of banks, brokerages, wealth management firms to mis-sell as relationships are already established & there is trust with the brand, which is why the customer has allowed them to be custodians of their assets. 2/4
A potential fix is to mandate every sale of a product to be digital, even if this is being done in person. Mis-selling a product digitally leaves a trail and makes the company also responsible unlike physically where there isn’t a trail & blame can be passed to the employee 3/4
Read 4 tweets
27 Feb
A lot has been said about what we should have done on 24th Feb 2021 when NSE halted trading. Of course, with hindsight, it is easy now to suggest. But at 3 PM on the 24th Feb, the best option was to square off all NSE intraday positions on BSE.

Here’s why 1/n
If you aren’t aware of what happened on the 24th, check this post
zerodha.com/z-connect/zero… 2/n
Intraday (MIS/CO) trades are taken with margin, as low as 5% of value. Pre-Condition: positions will be force closed before close as they carry higher risk. Until 3.20 pm, we didn't know timings would be extended. So sticking to, normal square-off timing was right thing to do 2/n
Read 14 tweets
10 Feb
In the Gamestop saga, the media has loved telling the story of how Retail made a lot of money from Hedge funds. The reality is entirely different, almost everyone apart from retail has probably made money or benefited from this. 1/8
Firstly, yes, a couple of Hedge funds were sitting on large losses on Gamestop shorts. Now that stock is at $50, the losses also would be a fraction, if the shorts still held. What no one is talking about are other hedge funds who made billions in the retail frenzy. 2/8
Almost everyone and their parents seem to have wanted to participate in some form. Not only the brokerage firms who added a record number of accounts benefited, but News/TV/Social media itself must have gained a lot of views and hence earned handsomely. 3/8
Read 8 tweets

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