Anshu Kumar

Jensen Huang: "If that $500,000 engineer did not consume at least $250,000 worth of tokens, I am going to be deeply alarmed. This is no different than a chip designer who says 'I'm just going to use paper and pencil. I don't think I'm going to need any CAD tools.'"

₹19,000 crore. That is what Banks collected in last 3 years just for not maintaining ‘Minimum Account Balance.’ Not from the rich. Not from big borrowers. From the poorest accounts in the system. Their crime? They didn’t have enough money. A farmer misses the minimum balance - Penalty. A pensioner withdraws money for medicine - Penalty. A daily wage worker falls short by a few hundred rupees - Penalty. The poor keep money in banks for safety. Not to be quietly fined for being poor. Financial inclusion should protect small savings, not punish small balances. In Parliament today I proposed ending minimum balance penalties so the banking system stops charging people for their poverty.

This post is for Indian parents. And for future Indian parents. Stop building houses for your son and daughter. You are solving the wrong problem. Stop spending your entire life savings building a ‘family home’ thinking your children will return and live there one day. It sounds emotional. But the reality is very different. I realized this when I recently visited my Nana ji’s house. That house was built with decades of savings. A lot of sacrifices. The intention was simple - Build a home for the next generation. Just like most Indian families do. They studied well. Built careers. Moved to bigger cities. One even moved to the US. Life upgraded for them. Opportunities pulled them elsewhere. And slowly the house that once held dreams now sits quietly with no one to light a lamp in the evening. Locked. Almost abandoned. Indian parents are solving the wrong problem. You want your son and daughter to grow, earn more, live bigger. But at the same time you expect them to live in the same house you built 30 years ago. That expectation is a contradiction. If your son or daughter earns 10x more than you, their lifestyle will also change. Their city may change. Their home will change. Their world will change. They are not going to live in the same house. Every 15-20 years homes become outdated and people move to new spaces that fit their life. So the house built with your entire life savings becomes irrelevant. Invest in their education. Invest in their freedom. Keep your money liquid. Use it to improve your own life. But please stop sacrificing your entire life to build a house for them.

Software ate retail. Ate media. Ate finance. Ate transportation. Then AI ate $2 trillion of software in 30 days. Andreessen wrote “software is eating the world” in the Wall Street Journal in 2011. Most quoted sentence in venture capital history. He built a $43 billion fund around the thesis. Every pitch deck for a decade opened with that line. The food chain just flipped. Between January and February 2026, $2 trillion in software market cap evaporated. Not a recession. Not a rate hike. AI agents started doing the same work these companies charge $150/seat/month for. Salesforce down 30%. Workday 33%. Atlassian 35%, after enterprise seat count declined for the first time ever. Asana lost 59% in twelve months. DocuSign 52%. Jefferies coined it the “SaaSpocalypse.” The structural problem is brutal. SaaS runs on per-seat pricing. AI agents don’t need seats. When a company cuts headcount by 30%, it cancels 30% of its Salesforce licenses the same week. The product that ate every industry is watching its own customer base vanish. Goldman’s software basket trades at 22x forward earnings. That’s less than half the decade average. Price-to-sales compressed from 9x to 6x, levels last seen before the SaaS boom even started. Every software company spent 15 years eating someone else’s lunch. Now they’re on the menu. Naval said it in five words. The stock market said it in $2 trillion.