One of the startups I lead, and manage, Classplus, has been on fire of late. It is seeing a lot of customer and investor love. I wrote out a tweet thread, to explain, their secret sauce; at the heart of which is an obsession with customer feedback, and ensuring everyone in the company is continuously talking to customers. Later, as the tweet got popular, I converted the thread into …
Unbundling Humans, or, Unbundling Human Creation
“There are two ways to make money in business: You can unbundle, or you can bundle.” – Jim Barksdale, cofounder of Netscape
As frameworks for identifying opportunities in startupland go, unbundling / (re)bundling is amongst the most seminal ones out there. Here is an example of how it works.
Visualize a product that helps you read (for a fee) any magazine / newspaper story – effectively you have unbundled or …
‘Exhaust Fumes’, or, Understanding Startup Valuations
“Early stage valuations aren’t really valuations. They are the exhaust fumes of a negotiation about two things – the amount raised and the amount of dilution.” – Fred Wilson; source.
“Those guys are morons,” says Palihapitiya of many value investors. The historic way of determining value by looking at balance sheets and discounted cash flow no longer works, he asserts. “Today, when money has no value, because we’ve essentially …
Network States and Nation SPACs, or Westphalia Redux
The title of this piece is of course a play on The Peace of Westphalia, the name for the two treaties signed in 1648 between various delegations representing the micronations and provinces of Europe. The Peace of Westphalia brought into being the concept of the sovereign nation state. One that has a monopoly on state violence and …
How founders should think about product-market fit
Product Market Fit or PMF is amongst the most discussed and evergreen startup topics. Popularised by Marc Andreessen in a celebrated post titled ‘The Only Thing That Matters’, PMF has become a keen topic of study and analysis in the startup community. Not a year or a quarter passes by without a celebrated article or twitter thread offering a new take or slant on it. After all PMF …
How the best founders drive learning at their startups
The best founders ensure that their startups learn continuously, and iterate + improve their strategy, tactics and playbook constantly. They ensure this learning through three routes. These are
- learning from customers, enabled through speedy product iterations
- learning from external talent / interviewes, via the hiring process
- learning from VCs / investors via the fundraising process or investor meetings.
In that order. Customers / product iterations are the most important source …
I joined Amit Varma on ‘The Seen & The Unseen’ podcast
I joined Amit Varma on his acclaimed The Seen & The Unseen podcast to talk about venture valuations, the VC playbook, the evolving media sector, my productivity hacks + stack, and lots more.
It is long podcast (Amit’s signature style) but certainly the most interesting + important one I have done. Do give it a listen! Link below. (The wonderful illustration that appears on the Seen Unseen page is by …
The Indus Valley Playbook
In this long essay, in fact my longest ever at ~7k words, I set out the evolution of the Indian startup ecosystem, or ‘Indus Valley’, and the emergence of the Indus Valley playbook — a distinct set of hacks and business models that help startups win in the unique Indian market.
I have been thinking of writing this essay for a while now. Many of the individual elements of the …
Bandra in a box
I heard from a friend who is attending the present batch at ISB Mohali that they have all moved to campus. Classes had begun in May’20 but were online. So, this is the surprise; he tells me that classes are still online (at least for a bit). But they are all staying on campus now, and hence all the interactions are in person, socially distanced or not I dont know. …
Good Rupee, Bad rupee – A Thought Experiment
What if liquor and other sin goods had to be purchased with a different currency called B(ad) Rupee?
Similarly the government could depute other goods – some not desirable (say imports) or those that cause environmental damage or have negative consequences, such as fuel – to be purchased solely via B rupees.
There could be a small tax or fee to convert A rupees (or rupees; those to be spent …