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

Nikhil Kamath・138 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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