From 600+ conversations with the world’s leading thinkers.
In the standard putty-clay model, firms, able to get access to long-term capital at a very low interest rate, will invest in highly capital-intensive technologies, because wages have not fallen as much as the cost of capital. But this means that, at any given level of demand for output, employment will actually be reduced.
Not only is it your responsibility as a business to look after your people, environment, community and world.... But if you don't have these kinds of conversations? Shame on you.
I'll start by emphasizing that this will be a long journey. Think of fundraising as refueling your car for the trip. It's essential – you can't undertake the journey without fuel. But that's all it is: fuel. It isn't the objective of your journey.
It turns out that for every ipod sold by Apple, it makes the US trade deficit go up by USD 150. Is the US poorer because the world loves ipods? No, we accrue the high-value elements like intellectual property, profit, and so forth, and outsource the lower-value parts of the chain.
Without truthfulness I would never have been able to grow anything of any significance, I would have been 'found out.' Having truthfulness and ethics within a business creates trust among employees at all levels and is critical. I led the company with an approach of complete honesty.
This is an ultra-competitive category, and that means that there's real value being created. If nobody shows up to the party, it's probably not a great party. When it comes to staying competitive, I've always focused on the customer and worked backwards from there.
I'm genuinely convinced that the upcoming decade will be the era of India as a product nation. The product revolution has begun, what we're terming as 'India SaaS' – the development of global SaaS products originating in India, not merely for the Indian market, but for the world.
There's a disease shared between individuals who consider themselves the smartest people in the room that makes them think they'll be the ones that get out just in time, while others are left holding the bag. That was true for a few people, but in general… someone will always be left holding the bag.
40% of the total number of products bought in fashion eCommerce are never used, what a total waste.
In the business world, we need to focus on the 4-Cs. Firstly, Customer. Secondly, Competition. Thirdly, Comfort. It doesn't matter how successful you are, how much market share you have, if you're in your comfort zone you will leave yourself exposed. Fourth, Courage. You have to be prepared to take tough decisions. Cowardice pushes the day of reckoning out, decisiveness brings it closer.
We compute some level of default and losses because of those defaults- and perform IRR calculations to create yields and then we haircut it some more because, in truth, we have no idea!
When it comes to acquisitions, many people jump straight to analyzing the financial returns. I approach it differently. I start by asking: How will our customers benefit from this acquisition?