agree, since India is like 5-10 years behind USA in the tech space, most unicorns in India are just companies that already exist in some form in USA. In India, the execution of a business is the hard part by far, and not the novelty of the idea.
There are some areas where India has leapfrogged ahead of United States and China. Look at digital payments for instance.
Since the 90's we have seen countless examples of how US / western products and services cannot be sold as-is.
Like all markets, India is unique. It also happens to be significant in size and companies homegrown and global focus on addressing local needs.
The fact that the tech scene in the West (which is the place where most things happen) is white-male dominated and likely outranks Indians by a factor of 10x (?), which means, as a group, they're likely to accomplish 10x in a lot of metrics.
Also, India is roughly 5x / 10x behind the US in tech salaries too (amidst high inflation and weakening currency), resulting in the infamous brain drain to the West (where they then make things happen, if they catch a break).
p2p, b2b payments go through WeChat. it all goes through WeChat.
people selling food on the street, basically all retail stores, e-commerce, goes through some combination of wechat/alipay
I don't quite understand this. Do you mean that they are still using Internet Explorer , Java 5 , Windows 7 and Myspace?
Please explain.
As an example, a country with paper-only tax filing might be said to be a decade behind a country with easy online e-file. It’s referring to the difference in technical capabilities, capacity, and/or innovation.
Related recent thread on Twitter which discussed some of these ideas: https://twitter.com/championswimmer/status/15339066147383910...
"people come to india for dau, not arpu" ~ kunal shah on the knowledge project [0]
tiktok executed perfectly bcz they were optimizing for dau but even flipkart is doing better than amazon here. many apps just won't work bcz they don't understand. see how netflix lost by asking to pay?
people don't understand india as much as they think they do so i'd suggest you to watch the video below as it covers actual india from an actual indian who understands it.