Raising capital is much more difficult than selling to D2C rollups. If can grow 10–20x with more capital, VC investment is the way forward.

The competition to acquire great companies is immense. Many D2C rollups have raised big capital to acquire the best brands.

Most Rollup (Thrasio clones) look for D2C companies with 15% – 25% EBITDA. They are not interested in companies with lower EBITDA.

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.

Startup investing has become mainstream in India. More Indians will invest in early-stage startups once the ecosystem further matures.

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

Nine big startups came up with IPOs in Q2 2021. All are technology companies except Oatley (Oat milk maker) and Didi (Ride hailing company).

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.

The biggest startups will become more global with time. Then more global unicorns will come to India & Indian unicorns will expand outside.

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

The top 3 reasons behind startup failures are running out of cash, building a product without any real demand and industry competition.

An investor deck is the marketing document of your startup. Invest time in building a deck if you want to raise capital.

Most startups hire a banker for Series C onwards because raising so much capital is a lot of work.

VCs love big opportunities. They invest in startups with big TAMs or rapidly growing TAMs.

India's GDP per capita could be US$ 8,000 or 9,000 in 2050, but it would be equivalent to 5,100 in 2020 US$.

India's Wealth per capita is the same as Iran's while Iran's per capita GDP is two and half times that of India. What explains this?

VCs are supposed to encourage innovation. But now they just pump money and want companies to grow at all costs.

Paul Graham, the founder of Y Combinator, says ideas don't have any inherent value. If you think otherwise, try selling them.