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This is unquestionably true. Indians succeed by innovating around an oppressive and obscenely slow and dysfunctional government. However the question I raised
by tn13 12y ago
This is unquestionably true. Indians succeed by innovating around an oppressive and obscenely slow and dysfunctional government.
However the question I raised was whether Flipkart has come up with a financially profitable and scalable innovation. They might have; because clearly I do not have access to the kind of information that the investors must have had but looking at the public domain it appears that flipkart does not have that innovation. Their CEO is also admitting it in public:
"We have 22 million registered users, and almost similar number of customers. The way we look at it, when this figure reaches 100 million, we'll be in a position to think of profitability. When we have delivered products to one in three homes in India, we'll get to that point." - S Bansal
- known 12y agoIndia follows the "Sheep Herd" mentality. The whole country's economy is based on people getting into "Profitable" domains mostly following the success of a pioneer in the field. The most recent example of this ideology is the "Business Process Outsourcing" industry. New BPO units are propping up here and there at a dime a dozen leading to a quality deterioration in the final deliverable. This process will continue till a saturation level is reached and then they will wait till another "Killer" domain picks up momentum. Till then India will be in a so called "Calm Period" where nothing great and major takes place.