The power law dictates that a lion's share of VC returns comes from a small number of deals while most investments fail to return capital.

When a startup becomes big, its early investors sell their shares to bigger VCs at a profit. This is called a liquidity event.

Carry, short for Carried Interest, is the share in profit that a fund manager (GP) gets when they investment does well.

The inability of oil-rich states to diversify their economy has hurt them. They are as dependent on oil in 2021 as they were in 1978.

VC investments are illiquid with 5 to 8 years lock-in depending upon the fund. Thus, it requires a higher return than most investments.

Out of the 10 biggest startup investors in H1 2021, 9 were traditional PE/Growth funds.

In the first 4 months of 2021, more Indian companies became unicorns (startups with at least $1 Bn valuations) than in the entire of 2020.

You need $60,000 in net wealth (Assets – Liabilities) to be in the top 1 % of India which is 32 times the GDP/Capita in India.

Between 1991 and 2019, the GDP per Capita in India grew by 7x.

The best bankers collaborate with founders to achieve their goals. Their incentives are tied to those of the firms they are advising.

Despite fears of high debt, India's external debt to GDP ratio is the lowest amongst emerging markets after China.