Being content is the only way to true freedom. A person who embodies this is my father-in-law, Shivaji Patil
He was in the Indian Army & voluntarily retired as a Havaldar after losing his fingers to frostbite during the Kargil War. He started a grocery shop in Belgaum after. 1/5
He is 70 years old but goes to the local market regularly on his decades-old scooter for the specially abled to buy groceries for the shop. His only help is my mother-in-law, who helps him run the shop and manages the house. 2/5
He refuses to stop working, even with the success Seema and I have had. When I ask him about margins for various products in the shop, there is still a twinkle in his eye. He speaks about a 25% margin on chikkis, buying a box at Rs 200 & selling them individually for Rs 250. 3/5
I have never seen him wanting something or complaining, not even about losing his fingers in the war.
Although, he did try to convince me to get a government job when I asked him permission to marry his daughter in 2007 when I was still struggling😬 4/5
I have been geeking out about increasing healthspan or how to live a good life until the end.
I have no doubt that the answer is to be content and never stop being active mentally and physically. Money can't buy this, and he is the best example. 5/5
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It started with a response to a part-time job offer on WhatsApp. The first few tasks were about leaving fake reviews for resorts & restaurants in random places like Peru. ~Rs 30k was transferred to the bank for the tasks completed. 1/8
A Telegram group was created with others who claimed to do these tasks.
The next task for the group was to trade on a mock crypto platform, following a bunch of rules. Profits generated were allowed to be withdrawn, even without transferring any real money. 2/8
By the way, this wasn't Bitcoin or Ethereum, but random crypto tokens whose prices fraudsters could easily manipulate.
The group was now asked to transfer real money to generate higher returns. Others in the group claiming to transfer nudged my friend to do so as well. 3/8
I think the number of founders and leaders, especially at late-stage startups quitting will only increase, making it harder for businesses to survive this funding winter.
This is because of liquidation preferences & the disconnect between valuations and business fundamentals 1/8
A liquidation preference allows investors to recover their investment before anyone else. This is how all startups raise money. Nobody thinks of it as a loan, but it is similar.
The more money founders raise, the harder it is for them and their teams to see equity upside. 2/8
Liquidation preferences are fine as long as valuations are growing and every new round the investments get marked up, and all investors see notional gains.
But when growth plateaus or new fund raise at higher valuation becomes tough, the investment becomes like a loan. 3/8
Hemp belongs to the Cannabis sativa family—the same as marijuana. They look similar, but hemp is versatile and has multiple uses, including as a superfood. It's also good for the planet.
Unlike its notorious cousin, hemp doesn't get you high 😬. Partly why it isn't popular. 1/4
Because they look alike and come from the same family, hemp is often mistaken for marijuana, which is one reason why it isn't mainstream. 2/4
I learned about hemp when evaluating a startup working on hemp protein. We're now convinced about allocating capital to startups working on hemp, but we're also seeking regulatory clarity.
This discussion in the @RainmatterOrg Grove forum helped too. 3/4 grove.rainmatter.org/t/hemp-s-versa…
The press conference post the SEBI board meets feels like being in a master class on Indian capital markets. It is a must-watch for anyone who takes an interest in the industry.
Here is how I think the outcome of yesterday's meet will affect retail brokerage firms. 1/8
The biggest risk for almost all regulated businesses in India is regulatory change. I doubt there has ever been a time when regulations have evolved this quickly. While these regulations generally are for good, they can disrupt business models quickly. 2/8
For intermediaries, collecting fees easily is important for building a business. With an ASBA-like fund settlement mechanism using UPI, fee collection would've been a potential challenge. But with the ability to collect from clearing corporations (CC), this isn't an issue. 3/8
Buying a health insurance plan for the family is the most important financial investment you can make, given the costs of serious health incidents.
Even before you do anything else in your personal finance journey, get health cover to the extent you can afford. 1/4
``In 2014, the last year for which data is available, the Avg cost of inpatient care per hospitalisation was Rs 26,475 in urban areas & Rs 16,676 in rural.
Over 6.3 crore Indians are faced with poverty every year due to health costs alone; according to government estimates`` 2/4
``About 8-9% of all Indian households were pushed below the poverty line due to healthcare costs, as per this paper by economists from the National Institute of Public Finance and Policy based on NSO data.`` 3/4
The 25% increase in F&O STT will further move volumes from futures to options. The actual impact wouldn't be much because over 80% of the volumes come from options & STT is on premium, not on contract value as it is in futures. 1/6
It is good that the impact will not be as much on options. But a vibrant capital market needs activity across futures and options. They both solve for different needs of traders, speculators, arbitrageurs, & hedgers. 2/6
People think traders, the kinds who trade F&O, don't add value to the capital markets. The truth is the exact opposite. Without traders, it would be impossible for an exchange to exist in its current form, where investors can buy and sell securities with minimal impact costs. 3/6