Nobel Prize Economist comparing Togo to India on mobile payments and saying Togo is better.
People in Sathankulam getting their subsidies directly credited to their account and then paying thru UPI in the nearest T shop still using GLS bulbs, saying
UPI has ensured India leapfrogged many western Countries in terms of digital payment infrastructure.
If Indian smartphone users were a country, they would be the third most populated country in the planet.
Our direct account transfer value is more than the GDP of Pakistan
But for western educated brown sahibs and their dependents in India, India will forever remain a poor, backward, technologically obsolete, useless hell hole upon which, they have a God given right to Pontificate.
Their relevance depends on projecting India as a poor country..
Today I can travel the entire length of Tamil Nadu, and 75% of India in a car, without cash, wallet and only a mobile phone with me.
Could you have done this 5 years ago? No.
But what example will the Economist uncle give? Togo.
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For all of the hatred towards it shown by many people, the most important thing the IT industry showed was that, for the first time in India's history, you could setup a company in India & make it big with only your hard work and intelligence.
You didn't need anything else.
If you trace the ownership history of all big companies in India, prior to the advent of IT, you can classify them as
1. Govt owned 2. Owned by the people who were Govt lackeys. 3. Big named businessmen who were British lackeys 4. Owned by people who bribed / swindled the govt
Meritorious and hardworking people in India, but with limited capital, could never actually even dream of starting a business in India.
Before the IT industry showed the way.
More entrepreneurs were created by IT industry in 5 years post 1992, than we did in the 40 before it
If you ever want to see an example of how something that began right and then went wrong pretty quickly, look no further than the months of June and July in 1914.
Those 2 months are the worst example how everything that could go wrong, went wrong
And killed 22 million people.
Immediately Prior to 1914, like the 500 years before 1914, countries in Europe didn't trust each other.
Because, Europe was a bar where every country had fought with the other country for no reason other than fighting each other.
Because in 19th Century Europe
British fought the French.
The French fought the Germans.
Germans fought the Austrians.
The Austrians fought the Turks.
The Turks fought the Russians.
And the Italians were fighting amongst themselves.
Basically everyone was either fighting someone else or themselves.
Indian equity market is now at a point where every theory, thesis, formula and literature about stock markets, stocks and investments, has been run over by a king size bulldozer, and whatever remained has been burnt with a flamethrower.
Let's take the recent IPO of Ola Electric
The company not only successfully listed but has zoomed faster than ISROs GSLV rocket. The returns are so outsized that anyone who didn't apply for the IPO, looks like a fool today.
But then, if you look at the financials, the story is a little different.
Let's start with the operating cash flow. Because If I write about P&L, fanboys will descend on my TL by saying "The EV Revolution has just begun", "The Pastmaster strikes twice" etc etc.
Let's see if Ola is actually making money from its operations, which is selling scooters.
Olympics happen every 4 years. Immediately follows are our recriminations, on why we suck in them.
So, I decided to do some digging.
I wanted to know who actually runs the sport federations, in which our athletes compete.
And the results are not very surprising.
I analyzed 32 positions across Athletics, Badminton, Boxing, Shooting, Hockey, Archery, Weightlifting, Swimming & TT
And here are some tidbits
1. Except Hockey & Athletics, no President is a sportsperson 2. All Presidents except Athletics are politicians.
3. The Hockey President is both a sportsperson and a politician. The only one in that category.
4. Now, If you go one level below, at the Senior Vice President or Hon Secretary General (I have no idea what it means) - Except Athletics and TT, none of them are sportspersons.
Today is Budget day. Naturally, everyone in your office, including your boss, will be discussing the Budget. So how do you sound intellectual in those discussions?
Don't worry. Here's a primer on how to sound amazing on Budget Day, without even watching the budget.
First, start off with a sentence containing phrases like, proactive tax Rationalization, infrastructure financing, economic intervention.
Say stuff like, "This budget should focus on proactive economic intervention with infrastructure rationalization"
Also given that middle class is the new flavour of the season, say things like, "This govt should focus on widening the tax base to reduce the burden on the middle class and stimulate the economy by prudent tax stratification in order to boost consumption"
Unpopular opinion : All our aspirations of replacing China as an advanced electronics manufacturing hub, Building 3 nm chips, becoming the biggest ship builders on the planet can wait
We first need to lay roads that don't resemble the lunar surface at the slightest hint of rain
Case in point are the entry roads to Mumbai.
Imqgine the worst criminal you can think of, then visualize the worst form of hell to send him to, then visualize the road that will get him there.
They will still be better and smoother than the entry roads to Mumbai.
BMC has converted entering Mumbai into a Crystal maze type game, filled with booby traps and insurmountable obstacles, laying a Challenge to all those who dream of entering Mumbai
It's like BMC is telling them "Life will be tough in Mumbai & this entry road is the trailer"