Ep #10 | WTF is the Next Gen Thinking? Nikhil w/ Navya, Tara, Aadit & Kaivalya

Nikhil Kamath2 minutes read

A startup in Dubai successfully evolves from a WhatsApp service to a full-fledged app, securing significant funding and achieving rapid growth post-COVID. The speaker emphasizes the importance of entrepreneurship, personal growth, and individuality over societal expectations, advocating for a more personalized education system and mental health awareness.

Insights

  • Youth punctuality is questioned, leading to discussions on late penalties as a solution.
  • Founders of Kerala Cart started a grocery delivery service during the pandemic, evolving from WhatsApp to a full-fledged app.
  • Transition to dark stores from marketplace model led to rapid sales growth.
  • Series A and Series B funding, CDC funding post-COVID, and Y Combinator investment signify significant financial milestones.
  • Bollywood's evolving landscape, including changing tastes, competition, and the impact of OTT platforms, is crucial for storytelling and narrative shifts.

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Recent questions

  • How did the startup Kerala Cart begin?

    The startup Kerala Cart began as a grocery delivery service on WhatsApp.

  • What challenges did the startup face initially?

    The startup initially faced challenges in sales despite achieving product-market fit.

  • How did the startup transition its business model?

    The startup transitioned from a marketplace model to a dark store model.

  • What funding milestones did the startup achieve?

    The startup secured Series A funding of $10 million and a $50 million Series B.

  • What is the speaker's vision for social entrepreneurship?

    The speaker envisions establishing a social entrepreneurship definition in India on an international level.

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Summary

00:00

Youth punctuality, grocery startup success in Dubai.

  • The discussion begins with the issue of youth punctuality, questioning why young people struggle to be on time.
  • The conversation shifts to the idea of punishing those who are late, with suggestions to address the problem.
  • The group introduces themselves, highlighting their backgrounds and experiences growing up in Dubai.
  • Two individuals share their journey of starting a grocery delivery service during the pandemic to assist elderly neighbors.
  • The initial service on WhatsApp evolves into a full-fledged app called Kerala Cart for grocery deliveries.
  • The founders experiment with dark stores, micro-warehouses for efficient packing and delivery.
  • Contrary Capital invests $50,000 in the startup, valuing it at $2.5 million.
  • The founders focus on solving the supply side of their marketplace business by convincing local stores to join as sellers.
  • Despite challenges in sales, the founders achieve product-market fit with 300 orders a day within 30-40 days of launching.
  • The startup secures additional funding from angel investors to scale their operations.

14:28

"Y Combinator Investment Sparks Rapid Growth"

  • Y Combinator approached the speaker in late 2020 with a $125k investment.
  • To apply to Y Combinator, one must fill out a form during their two batches in January-March and July-September.
  • Initial launch saw zero orders per day in February, reaching 300 orders per day within 45 days.
  • Customer feedback during lockdown led to a realization of product-market fit.
  • Delivery speed optimization was crucial for cost efficiency and customer satisfaction.
  • Last mile delivery cost per order is calculated by delivery driver's hourly rate divided by orders per hour.
  • Faster delivery is a significant focus for customer retention and business growth.
  • Transition from a marketplace model to a dark store model in July 2021 led to rapid sales growth.
  • Series A funding of $10 million was followed by a $50 million Series B within 45 days.
  • The business saw exponential growth post-COVID, with a $100 million CDC funding in December 2021.

28:33

Empowering Women Entrepreneurs: A Visionary Journey

  • The speaker is a 36-year-old trader who has been in the industry for 19 years.
  • They run a non-profit focused on encouraging entrepreneurship among women, with 25,000 women involved.
  • The non-profit aims to create an ecosystem for entrepreneurship beyond just financial support.
  • The organization partners with ad agencies and legal firms to provide resources to founders.
  • The speaker envisions establishing a social entrepreneurship definition in India on an international level.
  • They aim to bring together profit and purpose in India to set an example for the world.
  • Personally, the speaker desires to build something of their own for identity and pride.
  • The speaker acknowledges their privileged background in pursuing their goals.
  • They describe themselves as awkward and introverted, taking time to open up to others.
  • Despite initial fears and insecurities, the speaker has found confidence through their experiences in the arts and theater.

43:35

"Evolution of Bollywood: Changing Dynamics of Consumption"

  • The speaker emphasizes the importance of happiness in filmmaking, sharing their experience of shooting a film at 20-21 years old, which felt like a hobby.
  • Bollywood is described as a tough and competitive industry with limited positions and intense competition among actors and actresses.
  • The speaker challenges the notion of competition in the industry, highlighting the changing landscape where individuals are not boxed into specific roles.
  • The discussion shifts to the changing tastes in Bollywood due to evolving audience preferences and the impact of OTT platforms on storytelling.
  • The speaker introduces their upcoming film "Apurva," a survival drama featuring a young girl using her wit to save herself, diverging from traditional narratives.
  • The conversation delves into the speaker's personal traits, describing themselves as not cool, passionate, introverted, and appreciative of various music genres.
  • The speaker reflects on generational differences in consumption patterns, noting a slowdown in consumption in India and the shift towards demanding high-quality service at a reasonable cost.
  • The discussion with the Zepto brothers highlights the importance of good service in consumption, emphasizing the value and quality of products over luxury or premium pricing.
  • The Zepto brothers discuss their company's growth and product categories, focusing on non-discretionary items like home needs and electronics.
  • The conversation concludes with insights into the changing dynamics of consumption, with a focus on structural efficiency and customer experience driving growth in various product categories.

59:51

E-commerce competition and challenges in branding

  • Amazon and Flipkart are competing in the fast-paced world of e-commerce, with Amazon facing challenges due to its centralized warehouse model.
  • Both Amazon and Flipkart have similar structures, but the public perception of their stories differs.
  • The media sentiment around e-commerce has been negative in the last two years, with many businesses shutting down globally.
  • Zepto focuses on execution, discipline, and rigorous improvement, aiming for a Six Sigma culture similar to Toyota.
  • There are significant gaps in the market for branding basic commodities like dry fruits and rice.
  • Building a brand involves substance, quality control, and a world-class supply chain to offer lower prices while maintaining quality.
  • Personal shopping patterns vary, with some individuals preferring online shopping for convenience and others valuing unique experiences.
  • The trend in spending is shifting towards functional items like fitness and food, with a focus on experiences for lower-income individuals.
  • The experience of watching films in cinemas is irreplaceable, offering a sense of community and escape from worries.
  • The penetration of multiplexes in tier two and three cities in India has not reached expected levels, with technical challenges hindering expansion.

01:14:41

"Premiumization Trend in Indian Entertainment Industry"

  • Breaking even at 40 and making money thereafter is influenced by the factor of time, with the timeline varying from three to five years.
  • Regulations in India, particularly concerning fire safety, impact the cost of displaying movies in a manner that complies with regulations.
  • Multiplexes in India are exploring premiumizing the movie-watching experience due to the merger of Inox and PVR.
  • Premiumization is a prevailing trend across sectors, with a focus on catering to the 50 million people in India willing to pay for premium products.
  • In the content business, India has an estimated 10 million people willing to pay $10 a month and 40 million willing to pay $1 or more for content consumption.
  • The success of premium products may be linked to income inequality and the combination of higher prices and enhanced experiences.
  • The challenge lies in providing a premium experience without high costs, potentially influenced by the influx of cheap foreign money.
  • The trend of seeking validation on social media, particularly among the age group of 18 to 34, is becoming more significant than real-life validation.
  • Building a business for Gen Z involves catering to their need for validation, recognition, and appreciation, potentially through positive feedback or responses from celebrities.
  • UPI emerges as a preferred payment method for Gen Z, offering convenience over credit cards, especially in a vendor ecosystem where credit cards may not be accepted.

01:29:30

Generational Social Media Trends and Income Inequality

  • Social media usage trends: Different generations prefer different platforms like Facebook, Instagram, and YouTube.
  • Instagram's appeal: Instagram attracts users of all ages due to its convenience and diverse content offerings.
  • Income inequality: Wealthy individuals benefit more from asset growth compared to salary growth, leading to increased income inequality.
  • Addressing income inequality: Suggestions include employee equity ownership and stricter regulations on share buybacks.
  • Government intervention: Proposals include antitrust laws, employee equity ownership, and property taxes to address income inequality.
  • Encouraging entrepreneurship: Promoting entrepreneurship as an aspirational career choice, especially among younger individuals.
  • Funding entrepreneurship: Creating funds to support young entrepreneurs and providing resources and training for aspiring entrepreneurs.
  • Education reform: Emphasizing practical skills and experiences over traditional academic achievements in the education system.
  • Non-conformity and competition: Encouraging individual growth and self-discovery rather than conforming to societal expectations.
  • Career choices: Emphasizing the importance of personal interests and skills in choosing between starting a company or pursuing a job.

01:44:51

"Education, Growth, and Fulfillment Over Money"

  • The speaker emphasizes that personal growth and evolution of the mind are more important than job status or salary.
  • Money is not the sole measure of success; fulfillment and contentment are crucial aspects.
  • Learning disabilities, such as dyslexia and dyscalculia, can impact individuals significantly, affecting their educational experiences.
  • The speaker advocates for a more personalized and less competitive education system, focusing on individual learning capacities and needs.
  • Soft skills, life skills, and basic banking should be incorporated into education to prepare individuals for real-life scenarios.
  • The speaker highlights the importance of addressing mental health and depression in children through improved education systems.
  • The rapid evolution of technology diminishes the value of rote memorization, emphasizing the need for critical thinking and problem-solving skills.
  • The competitive and toxic environment in schools can shape individuals' mindsets and impact their future endeavors.
  • Personal fulfillment and contentment are essential, with childhood experiences playing a significant role in shaping individuals' self-worth.
  • The importance of effective communication, conflict resolution, and mutual respect in managing egos and misunderstandings, especially in business partnerships.

02:00:36

"Support, Relationships, Influence: Evolution of Happiness"

  • The speaker acknowledges the support of KV in their journey, highlighting the importance of having someone to rely on.
  • They mention facing challenges and the temptation to quit in the early days.
  • The speaker emphasizes the significance of cuddling and bonding in relationships.
  • Advice is given on how actions from the past can be misinterpreted in the present.
  • The importance of maintaining a close group of friends is stressed to avoid drama in life.
  • The speaker discusses the shift in interest towards lighter, more fun films in Bollywood.
  • The question of influencers potentially threatening traditional actors is raised.
  • Monetization and the financial rewards of being an influencer are touched upon.
  • The responsibility influencers have in promoting and selling products is discussed.
  • The conversation shifts to the concept of evolution, the value of being alone, and the pursuit of happiness over material wealth.

02:18:25

"Empowering Gen Z: Authenticity Over Entitlement"

  • Navia discusses the importance of advocating for those treated unfairly and the potential of young people not being given enough opportunities.
  • She believes Gen Z is not entitled but faces challenges due to societal issues and lack of representation in important conversations.
  • Navia highlights the impact of social media culture on portraying confidence and the struggle of being authentic versus presenting a curated image.
  • She advises staying true to oneself in a world where social media often distorts reality.
  • Navia shares a humorous anecdote about her clumsiness, emphasizing the importance of being genuine and embracing one's quirks.
  • Navia and Tara discuss dealing with trolling and cancel culture, with Tara emphasizing the need to listen to criticism and improve based on feedback.
  • They both stress the transient nature of online criticism and the importance of not letting it affect them.
  • Tara and Navia share their personal brand narratives, with Tara focusing on honesty and vulnerability while Navia highlights the perception versus reality dilemma.
  • They reflect on their dynamic and the importance of being true to oneself despite external perceptions.
  • Tara and Navia discuss their personalities, with Tara acknowledging her tendency to be a people pleaser and Navia emphasizing her authenticity and resistance to conforming to expectations.

02:33:49

Actions Over Perceptions: Building a Lasting Brand

  • Emphasizes the concept that "beauty is as Beauty does" as a foundation for personal branding, highlighting the importance of actions over perceptions in building a lasting and meaningful brand presence online.
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