A R Hari

@Nithin0dha Borrowing against stock holdings (or any assets) must be subject to tax after a certain limit. That is the only way the people with massive wealth will start paying their fair share, which can be a first step towards a more equitable society.

I'll admit this might sound odd coming from me, maybe even clichéd. But it's something I've been sitting with for a while, so here goes. When I started out, like most people, I had a simple wealth goal. I'd actually written it down: hit ₹5 crore, retire in Goa, beach shack, done. That was the dream. After the Zerodha journey, I find myself on a very different side of that equation, and the dark inequalities of wealth and opportunity are harder to ignore than ever. We all know the numbers on inequality. The concentration of wealth among the top 1% is severe and getting worse, and it's even starker among the top 0.1%. The post-2008 era of rising asset prices has likely made this worse, because the people who hold financial assets are, by definition, people who already have money. This isn't unique to India. Barring a few exceptions, it's a global phenomenon. I'm cautious about attributing every socio-political problem we face today to inequality, but it's hard to deny the role it's played in the political upheavals we're seeing across the world. History rarely shows that sustained, extreme inequality ends well. To me, it increasingly feels like sitting in a car with the brakes cut, watching a cliff approach. Btw, all of this even before AI, which has a non-trivial probability of making things worse. I'll stop short of prescribing solutions. It's too easy to reach for simple answers to complicated problems, and that's a separate conversation entirely. But I think we need to collectively acknowledge this: wealth that just sits in financial assets whose value keeps compounding upward doesn't do much good for anyone beyond those who already have it. And if that wealth isn't in motion, if it isn't doing some social good, the fabric that holds us together will only continue to fray and lead to cynicism, resentment, and worse yet, nihilism. We're already seeing all of it. What I am saying is that even if a portion of that wealth were channelled into things that could materially improve lives, that seems worth doing. Hoarding wealth, in the grand scheme of things, doesn't really help anyone.

@jasveer10 The worst practice amongst most people (any caste) I have observed is the habit of spitting on the road. It is so damn disgusting. And baring a handful of minority, there are so many people (women included) who shamelessly spit anywhere on the road, parks, stations, public places

@jasveer10 Disagree. From beggars, to vendors, to dehati reTHAR millionaires to rowdy Rathores and ladki bahens, mostly 98% of the population - nobody cares about cleanliness. They have nothing to lose, in fact they feel empowered destroying or making things dirty. Caste angle is a sham.

India isn’t dirty because people can’t clean, or lack civic sense. India is dirty because people genuinely believe it’s not their job. That belief comes from caste. And that belief is not accidental. It comes straight from caste conditioning drilled into people for generations. Caste in India was never just about hierarchy. It was about assigning work. And cleaning got pushed to the bottom. So now even today, people carry that same mindset without even realizing it. I am not the one who cleans. You go to a park, people will eat, throw garbage, walk away. Not because they’re unaware. Their brain literally doesn’t even register that they should pick it up. Why. Because somewhere deep inside, they think cleaning is a ‘lower’ person’s job. Same everywhere - Hill stations, rivers, tourist spots. Trash it and leave. Not laziness. Conditioning. Compare this with somewhere like Singapore - You eat at a place, people clean their own table. They carry tissues, wipe it, and throw garbage properly. Why? Because they don’t think it’s someone else’s job. Even Sri Lanka feels cleaner than India! And then we pretend it’s a Swachh Bharat problem. You can run a hundred Swachh Bharat campaigns. Put dustbins every ten steps. Nothing changes. Because the problem is not infrastructure. It’s identity.

@Finance_Bareek Source?

Reliance announces 10% layoff! Never thought something like this will ever happen at Reliance. Reliance is not an AI company, it's an OIL company. Don't tell me AI is now replacing oil too. What is going on in world? #layoff

@SiddharthKG7 You know you didn't have to use that? There is a perfectly shorter exit on the T1 side. This is only for the ones who prefer to get out on the other side of the busiest section of WEH. I found it good actually, as can cross the highway in a cool, quiet and clean underground pass.

Don’t know who was this genius to make miles long underground metro stations in Mumbai with super slippery granite. Lifts at most inconvenient places. No care for elderly people. Also, lifts censors do not work. So, someday someone will break an arm or leg trying to stop it.

@VicChaos96 @WallStreetMav Taking your own example forward, If 4 people produce the same as 16, it is 75% that gets waxed and not 25%. And if 75% are unemployed, a company 'producing' double is meaningless because there is going to be hardly anyone 'consuming' such mass production. It is a legit problem.

I think you are looking at this in the wrong way and have to change your perspective. Ai and Robotics will make it so efficient for humans to build cheaply. Teams of 4 will be able to produce the same as 16 people before. Maybe the bottom 25% of your workforce gets waxed, but the top 75% will make double and the company will produce double. Ai will also make prices drop from essentially everything.

If all of those 10s of millions of jobs are replaced by Ai and robots, who are the customers going to be that keep the economy going? Universal Basic Income (UBI) has already been discredited. The Fed printing all of the money to replace taxes would destroy the US Dollar. I really don't see the economic model that exists after AI and robots eliminate 25% to 50% of the jobs. Somehow I am not able to imagine the same transition happening that we saw during previous technology changes. Is it just me? I am not seeing the future economic system that makes sense. One thing I am sure of, UBI is not going to be it.

@priyankac19 Kudos! 👍🏻🙏🏻

In the zero hour today raised the issue of judicial over reach in the case of banning Professor Michel Danino and two academics from any role receiving public funds for including a chapter on judicial corruption in NCERT Class 8 textbooks

@theskindoctor13 Reserved category patients will have the first right on unreserved medical professionals ☺️😇

The next social justice reform the govt should bring is UPG (Universal Patient Guarantee). 1. If, despite so much social justice reforms, a reserved or management-quota doctor is not able to get patients in their OPDs, UPG will come into the picture. 2. UPG flying squads will roam around city clinics and monitor patient load. If needed, they will then pick up patients from waiting area of unreserved clinics and redistribute them to reserved/management-quota clinics. 3. Any patient resisting this will be reported by the UPG flying squad to the UPG legal squad, which will conduct a preliminary inquiry and then recommend to the police to book such patients under the Atrocities Act. 4. Clinics with excess patient load will be declared “Patient Hoarders” and asked to display a red warning board: “This clinic has more patients than socially permissible.” Such clinics will pay a 50% UPG tax. 5. Patients showing repeated preference for unreserved doctors will be mandatorily enrolled in a Sensitivity & Equality Counselling Programme, where they will be taught by JNU arts faculty that “competence is a social construct.” 6. A Patient Redistribution App (UPG-Setu) will be launched. Patients booking unreserved doctors more than twice will be automatically reassigned to nearby reserved/management-quota clinics in the interest of equity. 7. Emergency cases will be triaged by a UPG task force consisting of a retired judge, and two serving IAS officers, who will assess patients not by severity but by representation deficit and divert patients to underperforming clinics. 8. Patients attempting to cross city limits to avoid UPG allocation will be stopped at checkpoints by the Patient Equity Police and redirected to the nearest compliant clinic. It might sound absurd right now, but given the direction the republic is heading in, who knows what’s possible.

@devinamehra Haha.. such a brutally honest take! 👍🏻😄

Always look at what they do; not what they say After making a case that a human being is an inefficient use of energy, a reminder that Altman chose to have a kid recently. Given that he is gay, this was not easy or natural but... Every single tech founder, every single one of them, from Steve jobs to Mark Zuckerberg, Jeff Bezos to Bill Gates to Elon Musk keeps/kept their own children away from screens very deliberately and very strictly. Since they are the ones building them they know exactly what they are doing to brains and habits. And for those who lecture you and your children on why India is the place of the future, check where their own children are Words are cheap... Only actions matter

@Arun_vish Aren't RBI Bonds fully taxable at slab rates? The effective bond rate becomes around 5.5% in that case.

If I’ve ₹10Cr, I would retire and put that amount in RBI bonds that give me 8%. Along with this I’ll follow my passion, and earn a living out of it. This would be a very low stress job since it’s intertwined with my passion. Would never become an entrepreneur at all. It’s really not worth it.

@grok @venkat_fin9 @narendra @nsitharaman Ok, thanks. Valid criticism from the author in that case. Not a single group should have 'first claim' on the country's resources because of their caste or financial condition. It is highly absurd of the PM to say so.

The image appears to be a real screenshot from an Economic Times article published on April 30, 2024, headlined "SCs, STs, OBCs and poor have first right on country's resources: PM Modi." PM Modi did make a similar statement in a speech in Solapur, saying disadvantaged groups like SCs, STs, OBCs, and the poor have the first claim on resources due to historical backwardness. The original post uses this to critique policy, not as clickbait.

Dear @Narendra Modi and @nsitharaman If SCs, STs, OBCs have the first right over the country’s resources, then start by taxing them first. Only after that, come and beg the General Category to pay income tax. Until then, you and your government have zero moral authority to lecture us on “honest tax compliance.” Using reservations and public resources as vote-bank tools is disgraceful. Shame is the mildest word for this hypocrisy. @FinMinIndia

@elonmusk I'm frankly hating it. It is making me read the opposing view posts and I get it. But some of those posts and accounts are so vile and retarded, that I really want to give up X for a while to protect my sanity.

Is the algorithm starting to feel better?

@VoodooChild37 😂

Your son clearly doesn't believe in any of your bullshit

@BestinDogs Bo Bo

A name for him? 🖤

@usernameExists1 @stfuzelinsky @ayushswrites Pretty sure he himself is a brown troll from Pak or some South Asian ancestry.. 😄 best ignored..

Married the love of my life in a 500-year-old cathedral in a 2,700-year-old town in Spain this weekend.

@PuppiesIover The way he blinks 🥹

POV: you agreed to petsit your friend's golden not knowing that he and your girl dog would fall in love

@_soniashenoy GCCs aren't hiring much either. The situation as of now remains grim tbh.

With all this talk of 'what happens to jobs' with large scale tech layoffs underway , one saving grace for job seekers and an underrated threat for tech companies is the rapid rise of GCCs or global capability centres over last 5 years GCCs are basically In-house Tech teams by big global companies Big banks like JP Morgan, Goldman sachs would earlier outsource their tech work to companies like TCS and Infosys for cheap labour and technical expertise Today, these companies have set up huge offices in India where they are doing the same job by hiring people directly and working out to be cheaper GCCs are growing rapidly in india and every person they hire is a potential loss for companies like TCS and infosys Projections indicate a market size of $105 billion for GCCs by 2030 They are also projected to contribute 4.5% to India's GDP. What was earlier seen as back end support centres, India's GCCs are now taking on high value work such as product engineering, AI, cybersecurity, financial services, and analytics. With over 1700 GCCs already operational, accounting for over 50% of the world’s total, India has transformed into a global innovation powerhouse.

@IndiaNewGen Every gen should've done that. Even though not all GenZ do this, I think every employee should just have this attitude. Orgs/Managers don't give a fuck about their employees, thus it should be 100% reciprocated. This employment model is not going to sustain for too long anyway.

GenZ has no strings attached unlike millennials who bonded with their managers, have deeper career discussions, indepth project understanding, discussions with seniors. Hardly there is any enthusiasm to learn but keep hopping. Leaving the organisation is casual. No good byes.