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Abhinav Agarwal Profile picture
@AbhinavAgarwal
Nov 10, 2022 • 7 tweets • 3 min read • Read on X
Flipkart.
Burns through $3.7 billion in one year.
That's approximately ₹30,000 crores.
₹82.2 crores a day, every day.
₹3.42 crores an hour, every hour of the year.
15 years and not a single naya paisa, dhela, pai, in profits. Ever.
#valuations Image
We have a winner here.

"Five-year-old OkCredit spends ₹297 to earn a rupee in FY22"

Revenue from operations: ₹39 lakh
Total expenses: ₹115 crores
BTB, income from interest & investments: ₹1.93 crores
🤡💸
@entrackr
entrackr.com/2022/12/five-y…
‘Your daughter will end up poor like you’

“I went to the police, wrote to the govt, central bank...finally went on Twitter,” Sharma added. “That was the only thing that helped.”

"‘Worst decision of my life’: Byju’s accused of driving parents into debt with predatory practices" Image
“The first principle is that you must not fool yourself, and you are the easiest person to fool.” - Richard P. Feynman.

"But none of the edtech founders, including the Byju’s co-founders themselves, saw what was coming."

moneycontrol.com/news/business/…
When the tide goes out...

Founders worth hundreds, thousands, of crores:
"But none of the edtech founders, including the Byju’s co-founders themselves, saw what was coming."
🤡

Me, in 2021: "2. Startup funding will dry up.
3. Valuations will tank."
😎 ImageImage
FY2021-22 Revenues: ₹5,704 crores (↑124%)
FY2021-22 Loss: ₹3,628 crores (↑124%)

ET's stunning insight: "Losses were primarily due to a surge in the company’s expenses"

"Swiggy's losses more than double at Rs 3,628.90 crore in FY22"
m.economictimes.com/tech/startups/…
FY2021-22 Revenues: ₹3,232 crores (↑308%)
FY2021-22 Loss: ₹3,247 crores (↑550%)

"Meesho losses surge more than 6X to Rs 3,247 crore in FY22"

retail.economictimes.indiatimes.com/news/e-commerc…

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More from @AbhinavAgarwal

Abhinav Agarwal Profile picture
Jan 2, 2023
Received a great set of books today, on #VaikunthaEkadashi 📚🕉️🙏

"Mahabharata Tales: 12 Riveting Tales from the Great Epic", by @deepakmrd27
@subbubooks
Thank you, @IndicaOrg @IndicaBooks
#1000ReviewersClub ImageImage
"Reading Sri Aurobindo", edited by Gautam Chikermane @gchikermane and Devdip Ganguli
Pub. @PenguinIndia

Thank you, @IndicaBooks, @IndicaBooks

#1000ReviewersClub Image
"Bravehearts of Bharat: Vignettes from Indian History", by @vikramsampath
Published by @PenguinIndia

Thank you, @IndicaBooks, @IndicaBooks

#1000ReviewersClub Image
Read 7 tweets
Abhinav Agarwal Profile picture
Dec 16, 2022
1/6
 Watched Kantara a few days back, with subtitles.
Yes, probably the last person to watch it, but...

It's directed by @shetty_rishab, who is also plays the lead character.

Kantara is a great example of superb storytelling, well-etched characters, earthy yet sharp dialog.
2/6
 The movie is not only rooted in Hindu ethos, but also, interestingly, checks off most boxes of modern, western storytelling.

You have the hero's journey, the narrative arc, the fall and the redemption - it's all there.
The symbology & allusions to Varaha avatara, the connection of the villagers with the deity & nature, modernity's impulses to impose its interpretations & the conflicts with tradition, & the deep connection between the devotee & the deity that transcends 'rational' explanations.
Read 7 tweets
Abhinav Agarwal Profile picture
Dec 6, 2022
Diana Eck presented D. Mandal as a 'historian' on #Ayodhya.
This is what she cited D. Mandal as saying about the evidence of a temple beneath the Babri Masjid— "There is not a single piece of evidence for the existence of a temple of brick, stone, or both."
The Sunni Central Board of Waqf presented D. Mandal as an expert witness for its side.
This is what D. Mandal said under oath:
⊙ I never visited Ayodhya.
⊙ I do not have any specific knowledge of history of Babur's reign.
⊙ I did not get any degree of diploma in archaeology.
⊙ Whatsoever little knowledge I have about Babur is only that Babur was the ruler of the 16th century.
⊙ I have no knowledge that this square place was used as "Vedi" or "Yagyashala" (altar).
⊙ I neither known the meaning of "yagya" nor of "vedi."
Read 27 tweets
Abhinav Agarwal Profile picture
Oct 21, 2022
😀😀
"Vandhiyathevan, watching the altercation, felt an overwhelming desire to wrench the staff from the excitable Nambi and deal him a few well-placed, sacred blows upon his revered person, himself."
"Ponniyin Selvan…" by Kalki R Krishnamurthy amzn.in/3ChoFBJ Image
"She gurgled over rocks, flowed through forests, tumbled off hills and gushed through vales; her eagerness to reach her destination growing each moment. As she poured over the plains, it occurred to her that she was closer than ever to her loved one. Her heart trembled..."
"One had the radiance of a full moon; the other, the translucent beauty of the same moon at dawn. One looked stately, like a peacock; the other was a mild nightingale... One was the royal River Ganga, a vegavahini in her grace and majesty; the other, the gentler, bashful Kaveri."
Read 4 tweets
Abhinav Agarwal Profile picture
Aug 27, 2022
Playbook 101

⊙ If you speak up, "Why are you 24x7 in crib mode?"
⊙ If you don't, "Be constructive; don't do RR all the time!"
⊙ If you support the ruling party, "Look at the other good work they are doing!"
⊙ If the opposition, "So you want those thieves to come, eh?"
1/3
⊙ If you are rich, "Entitled brats like you always want everything for nothing!"
⊙ If you are poor, "Stop whining like some rich dude! Be thankful for what you have."
⊙ If you are an IT professional, "People like you have f**ed up this city; so just STFU!"
2/3
⊙ If you are not in IT, "Who told you to stay in Bangalore? Can't afford it, leave!"
⊙ If you are a local, "I didn't hear you crib when your house value went up!"
⊙ If you are not a local, "First outsiders like you screw up the city, and then you complain!"
3/3
 You're welcome.
Read 4 tweets
Abhinav Agarwal Profile picture
Aug 21, 2022
Why do I get the feeling this fishing expedition/proposal to eventually tax UPI transactions is yet another win for the international credit card duopoly, aided by the natural proclivities of the government to tax everything in sight, and often tax them out of existence?
1. The current annual cost of UPI transactions is ~₹ 500 hundred crores.

2. The central government spent ₹4,33,108 crores on subsidies in FY 2021-22.

3. Therefore, the total UPI subsidy burden is ~0.115%, what the govt spends in 10 hours on subsidies.
The way governments & taxation work, UPI charges will be cloaked in the usual rhetroric of 'pro-poor'/'vikaas' sloganeering.
A possible route may be by imposing a "cess", "surcharge", only on those earning more than, say, ₹10 lakhs a year.
Shiver through the spine?🙂
Read 4 tweets

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