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The Billionaires and The Guru: How an Indian Family Burned Through $2B
- furbyhat 8y agoShould have bought some Bitcoin cash
- unmole 8y agoOriginal title: The Billionaires and The Guru: How a Family Burned Through $2 Billion
- hardwaresofton 8y agoThe original title is a much better title, not sure why it was changed... This is more so a story about the brothers and the spiritual leader who apparently took a bunch of cash from them, not about abuses of India's ruling class
- B-Con 8y agoNow it's > How an Indian family lost $2 Billion I think we're on the 3rd title.
- xaranke 8y agoAs someone who left India for the US, this article gives me pause as to whether things have actually changed in shining New India or if it's just a facade with air conditioning. More specifically, I'd like to move back at some point and I'm not sure if I ever should.
- sn41 8y agoNothing has changed. The govt. has gotten better at media manipulation, and/or the media has decided it is easier to get into bed with the govt. Reliance Jio Institute has been declared an "institute of eminence" on par with IISc, and above many IITs. The industrialists hailed demonetisation. Ordinary citizens have few opportunities to enter the stock market, since it is inundated with foreign institutional investors, who may withdraw money at the drop of a hat, thus increasing volatility. There is no critical analysis allowed or taken seriously. Pre-2016, I was depressed at the turn of events. Post-Trump, Post-Brexit, I just think this is the new normal for the planet. Aggressive stupidity is the way forward. That said, money-making opportunities are present, as they always were.
- djaychela 8y ago> Aggressive stupidity is the way forward. Probably the most concise and accurate summary of the situation I've read. (Particularly as someone in the UK who's doesn't want to leave!)
- eahman02 8y agoThose who don't think the way you do are not "aggressively stupid", they just have other interests. That kind of dismissal doesn't help anybody.
- King-Aaron 8y agoPersonally I see it as an existential observation rather than a dismissal. On the whole, the actions of both the voting public in many countries, let alone the politicians that they vote for, do seem to be displaying an increasingly aggressive level of stupidity. Or possibly, if not stupidity, one could more accurately call it apathy.
- eahman02 8y agoThink of it the other way: for some people, the public has voted very stupidly for a long time, and now they are starting to get straight.
- dsfyu404ed 8y agoOr politicians are starting to deliver on their stupid promises.
- not_kurt_godel 8y agoAnd yet those people are people whose core beliefs - or at least, the manifestation of those beliefs into policy - are, for the most part, largely objectively wrong.
- hesarenu 8y agoIITs attract the best students because of the opportunity it provides. But on its own is it know for it's academics? Do they carry out high calibre research?
- frozenport 8y agoLooks like some idiots lost their parents money to a cult. Could this be understood as change for the better?
- hkai 8y agoYou probably shouldn't. I'm in a similar situation and although back home there are all these fancy cafes, relaxed and familiar environments and great people, the significant differences become apparent only in crisis. When it comes to police, ambulance or just having safe food, safe streets and competent government, there's a sea of difference, although it's easy for me to sit at a Hard Rock Cafe back home and think that this place is amazing. The situation in Kerala right now illustrates this well.
- heavenlyblue 8y agoIsn't getting a Hard Rock Cafe just a more upscaled version of having McDonald's move in your town?
- coldtea 8y agoConsidering how India started 6-7 decades ago, after centuries of colonial rule and impoverishment, merely having McDonalds would be a great difference.
- heavenlyblue 8y agoYeah, but neither of these create a community where you'd want to come back. It's a sign of economical progress, but is it what makes you enjoy the life in the country?
- oblio 8y agoIsn't the normal process: economic development -> social change? Economic development can happen within 5-10-15 years, while the second one usually takes 2-3 generations, so 40-60 years.
- blntechie 8y agoHow is the situation in Kerala different from what happened in Peurto Rico or Houston?
- th1nkdifferent 8y agoI don't share the negative sentiments expressed by others in response to your question. I think things have changed significantly for the better. I'll leave you with these two images - you can decide for yourself if anything has changed: https://www.nasa.gov/sites/default/files/thumbnails/image/india-2012.jpg https://www.nasa.gov/sites/default/files/thumbnails/image/in... https://www.nasa.gov/sites/default/files/thumbnails/image/india-2016.jpg https://www.nasa.gov/sites/default/files/thumbnails/image/in... Source: https://www.nasa.gov/feature/goddard/2017/new-night-lights-maps-open-up-possible-real-time-applications https://www.nasa.gov/feature/goddard/2017/new-night-lights-m... Scroll down to India's map and play with it for a while and then ask yourself whether India has changed for the better. You may not feel the difference as much as India's villagers and poor.
- coldtea 8y agoThese two images don't answer the "if it's just a facade with air conditioning" question. This just shows that now there are more airconditioners there (well, lights). Parent was explicitly trying to differentiate between more money/technical change and different mentality.
- iamshs 8y agoNeither do those images show severe lack of hamburgers. Transporting cows can and has lead to lynchings.
- danieka 8y agoI'm struck by the difference between India and Burma and Pakistan.
- yorwba 8y agoSome cities in Pakistan actually seem to fade instead of getting brighter. I wonder why that is.
- throwaway6789 8y agoLooking at the comparison for Kerala, I really feel sad and worried. It doesn't look like much improved for my state during this period. And everyone likes to talk about Kerala being number one!
- hiyer 8y agoWhy do you feel the US is better in this respect? The US has several other obvious advantages compared to India, but equality of wealth distribution and lack of crony capitalism don't seem to be among them.
- rayiner 8y agoYou think the US has wealth inequality! In India its common for upper middle class people to have several full-time servents. Not only that, they are a whole separate class of people. They are treated like servents, not like employees.
- distant_hat 8y agoIndia is far more unequal than the US actually and crony capitalism is also much worse here. I've lived in the US for 8 years and would be bang in the middle class there, I have 3 full time house helps which I couldn't even think about in the US.
- sandGorgon 8y agothere's no better time to come back. Do come. Its about what you can create in the world's largest democracy. Are we the only country with constitutionally guaranteed Right to Privacy ? come and build. Oh and that goes for everyone else too. We have a lot of American, Brit and Chinese founders building successful startups in India.
- mcny 8y agoThe difference is that the Americans, the Brits, and the Chinese can leave any time they want. I've talked to a few Indians and that tried to defend the mob that killed some guy for allegedly coming beef. More embarrassingly, they defended the police for taking a sample of the questionable meat for lab testing to check if it was beef. I can forgive the mob. Maybe things get heated and people lose their minds. They should all go to prison for life but I can forgive them once the sentences are handed. I can never forgive the police for taking a sample of the meat to check if it was beef. Democracy doesn't mean anything without rights of the minority. Not because you like Muslims. You can totally hate Muslims and still support basic decency of life for people of that faith.
- hycaria 8y agoWhat's this story ?
- philbarr 8y agogoogling for "india death beef" gives you quite a few similar stories to choose from.
- hycaria 8y agoThen I don't understand "I can never forgive the police for taking a sample of the meat to check if it was beef." If it's forbidden in that state, where's the problem with sampling ?
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- sbmthakur 8y ago> More specifically, I'd like to move back at some point and I'm not sure if I ever should. Things have improved in general. But it is impossible to answer this question without knowing more about your expectations.
- ataturk 8y agoIf you want things better for India (and the world) work to reduce the power of the City of London and the banker criminals therein. They are the ones who quietly rule the world and pick winners and losers.
- kamaal 8y ago>>I'd like to move back at some point and I'm not sure if I ever should. That's entirely your decision to make. But nothing much has changed in any real sense. Some highways have been built and there is slight change in infrastructure. But if your question is if some huge changes have come to pass, alas nothing significant has changed in a real sense. I had to return permanently due to my parents health, but if I really had a chance I would return to US though.
- naravara 8y ago>this article gives me pause as to whether things have actually changed in shining New India or if it's just a facade with air conditioning. In the "old" India things like this would have gone on as a matter of course. The fact that such financial crimes are publicized and prosecuted, and that large industries are being subjected to professional management instead of capricious rule by the rich scions is definitely forward progress. If anything is incentive not to move back at this point, it's the traffic, poor urban planning, and air quality. In that one respect, everything seems to be getting worse. (Communalism seems to be rearing its head in nasty ways too)
- rconti 8y agoI think another hard thing is that your expectations will change the longer you live in the US (and as things change in the US as well), so what would have been a remarkable improvement to you before might be "not enough". Then again, one would expect that India is improving far more quickly than the US.
- vernie 8y agoIs this number of title changes normal?
- QML 8y agoI’ve seen some writer change their article titles a few times after publishing — I would guess they’re trying to A/B test or just indecisive.
- rockyj 8y agoAnd here I thought that "Wild Wild Country" on Netflix was too crazy to be true and something like that would not happen again. (*fixed typos)
- arjun27 8y ago* Wild Wild Country
- rishabhd 8y agoTrust me, you haven't seen anything at all.
- heavenlyblue 8y agoIt's funny that people are downvoting you for your manner, but frankly speaking that's exactly the reaction I had to the post. "Too good to be true"? You're joking, right? There's loads of people in the world with a high enough status, but who still are gullible enough because they never really had any deep relationships. Be it friends, lovers or family. That's exactly the kind of weaknesses upon which people build religions.
- dalbasal 8y agoTo me, the unique aspect of that docu was the "banality of.." perspective. About from a quirky sexual liberalism, the teachings were standard fare for a religion. The phenomenon was also unremarkable, the the grand scheme of things. The world is full of holy men, holy places, masters and devotees. It always has been. Any religion with a an origin story features a story like this. The old Hebrew/jehovist religion centred around prophet-leaders. Moses was a holy man, along with the other prophets. Jesus was such a holy man. Mohammed. Budha. Zoroaster, probably. The founders of most old catholic orders... You might even include communist "holy men" or other secular/political movements in that overall group. Basically, we can just take it as a given that holy men with an extremely devoted group of devotees will emerge here and there. At that point it's up to a St. Peter, or a Ma Anand Sheila to do something with it. Just before wild wild country begins, America experienced the Jonestown bloodbath. Its definitely a history that repeats.
- 55555 8y agoSounds to me like two indian brothers realized that a likely result of an arbitration would indirectly bankrupt their public companies so they started funneling money to a person they trust to hold onto it for them. just my 2c
- iamshs 8y agoThis makes sense. This cult has been on a real estate buying spree near their HQ. Even threatening farmers who refuse to sell.
- test001only 8y agoIt is interesting to see Indians talking of themselves and India as a separate entity. Now, I am fine with people moving out of the country and I can understand the appeal. A lot of problems in India have been long solved in the west and there are problems which are unique to India. But it is hypocritical to blame the ills on "India" as if it exists without it's people. Citizens make a country and they are equally responsible whether they like it or not.
- oblio 8y agoWhile in general it's true, and probably applies to India, I'd like to point out a major gap in your analysis: external factors. North Korea is basically propped up by China. If China would stop backing the regime, either the local citizens or intervention from South Korea could make the regime collapse overnight. Eastern Europe had regimes enforced by the USSR. Same story. See 1989 (luckily for these countries).
- sandworm101 8y agoNot sure about that. The regime seems to tick along with next to nothing. Pushing that to literally nothing might not make much difference. They would just move from 95% blackmarket to 100.
- visarga 8y ago> Citizens make a country and they are equally responsible whether they like it or not. Can't agree with equal responsibility. Children, for example, are not.
- eternauta3k 8y agoThese children grow up to be adults, who are by extension also not responsible. No one is "responsible" for these impersonal processes.
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- madengr 8y agoWhat’s the deal with these Gurus, and how can they have millions of followers? They are simply cult leaders and fraudsters.
- kevin_thibedeau 8y agoCharismatic narcissists can manipulate gullible people the world over.
- gowld 8y ago"Gurus" in India are "Churches" in USA.
- madengr 8y agoOh, I agree. I guess guru and cults have 24x7 compounds; churches don't.
- fellellor 8y agoIt's not that simple. Indian societies are ancient and have deep flaws. Usually involving social division, superstition, oppression of some kind or the other. In such situations Spiritual gurus saying the right thing in a sincere manner manage to build a large following over a period of years. The need for such "therapists" is real and cuts across income levels. Eventually though as the guru's following explodes, big money comes into play, and money corrupts so you end up with the gurus or their followers exploiting their situations for profit or worse.
- mbrumlow 8y agoSide note, has anybody read the TOS at bloomberg? Along with getting violation notices? I MUST allow JS? https://imgur.com/a/hsTANvy https://imgur.com/a/hsTANvy Also, their entire TOS looks like one of those shrink wrap licenses. I feel like people really don't understand how the internet works, and in the long run they are simply going to break it if the law dictates what software I have to run or not run to view a website. EDIT: Link to TOS: https://www.bloomberg.com/notices/tos/ https://www.bloomberg.com/notices/tos/ Really guys, this sort of stuff should not stand, the idea that they own the ability for you to link to their site is hideous. Even if they are "granting" that ability today allowing people to front like they have that power should be stopped. Otherwise next generations will just obey because "it's in the tos", "it's the law".
- apexalpha 8y agoIsn't the 'you need JS' in order to let the captcha work? I believe I have to whitelist certain scripts in uMatrix before those things work (or even appear!). edit: also the website just works for me even without scripts. I think your IP has triggered a flood warning leading the captcha and for that to work you need JS (which makes sense).
- mbrumlow 8y agoRegardless of why I was interrupted, the TOS is total crap.
- mrguyorama 8y agoAs they typically are. Hence why they so rarely actually get tested in a court of law
- mbrumlow 8y agoEven if it won't really hold up in a court of law I feel like the notion is to set some sort of precedence that gives it validity the logger it sits there unchecked. This is the sort of thing that shapes the next generations of judges, lawyers, juries and law makers. Over time sentiment will change and we will be stuck with "well it has always been this way right?".
- eric24234 8y agoAny indian who has some understanding of veda and caste system will immediately identify the problem here. It is run by singhs and singhs are not hindus by that i mean they discard varna system, vedas and caste system. The current government BJP is a strong religious organization with Brahmins in key positions who have lots to lose if caste system is abolished. The move by the indian BJP government is to progress hindutva ideology.