Nitish Sahni

A lot of noise around global investing now. Filtering the signal from the noise with @ActusDei tomorrow. Tune in!

@learning30391 @ActusDei @madhugogineni97 Yes, we give India-ready tax documents and will have a ClearTax integration end May. Also, our remittance costs are far lower than other platforms or if you transfer from IBKR from netbanking. I think our UI is nicer than IBKR's but that's of course subjective.

@nitsahn @ActusDei @madhugogineni97 Hi Nitish, great video. Quick question, why should someone use Paasa instead of directly using IBKR, especially since IBKR is already available to Indians and Paasa is built on top of it? Also, do you support ClearTax integration like Vested does?

Don't compare Indmoney vs Vested vs NSEIX. These are all tech LAYERS built on a US broker. Interactive Brokers vs Drive Wealth vs View Trade is the real comparison.

@learning30391 @ActusDei @madhugogineni97 Hi all - Neil and I did a podcast introducing Paasa - hopefully this answers your questions around trust! youtube.com/watch?v=Rpp3gr…

@ActusDei @madhugogineni97 @nitsahn Hi Neil, please do some Paasa podcast or interview, help to know the product better.

@NarasimhaKan @ActusDei @Contra_Wisdom While it might be discoverable on Paasa - if it's not buyable on IBKR, it isn't on Paasa.

@ActusDei @Contra_Wisdom @nitsahn what's your take on this?

@PriyanshuP1405 @ActusDei @iAlkesh Thanks - say hi to Pushan from my side!

@nitsahn @ActusDei @iAlkesh Thanks Nitish for prompt response, keep up with Paasa!

@ActusDei @PriyanshuP1405 @iAlkesh Hi Priyanshu, Student account approvals usually took longer. We’ve worked so that this is no longer the case - yours and all further students accounts will get approved in 1-2 days. Congrats on your role at 16Alpha.

@PriyanshuP1405 @iAlkesh @nitsahn

@dheerajsagewani @ActusDei Hi Dheeraj, with which bank did you see the same markup?

@ActusDei This seems like incorrect information. Just tried transferring $10k from both the applications, and the forex charges and gst were same for both indmoney and paasa

Who is the cheapest broker of them all? Not including Interactive Brokers since that remittance cost depends on your bank and can go as low as 0.2% with IOB. Other platforms have tie-ups with banks & hence included. For more info, subscribe to thefynprint.com magazine.

@ActusDei @PalSouresh Hi, you can buy individual stocks on several exchanges including the Toronto Stock Exchange on Paasa. You can see the exchanges and their brokerage on paasa.com/pricing

@PalSouresh @nitsahn

@AnirudhKejriwal @ActusDei Hi Anirudh, you can link your existing IBKR account to Paasa. IBKR is underlying broker. I see you created an account with us - I’ll tell the team to reach out with the steps.

@ActusDei Very informative @ActusDei It seems paasa has some tie up with ibkr to facilitate actual investments. Any more details how does it work…could we link our existing Ibkr accounts to paasa ?

@monish_roadhero @ActusDei Hi Monish, Nitish from Paasa here. You could transfer via HDFC, Axis or Kotak. We have discounted rates for these 3 banks - between 0.8%-0.9% above the interbank rate + GST. There are no other charges for HDFC besides the this with us as well.

@ActusDei If we use paasa which bank account we need to have? How about outward remittance charges? Bz in indmoney hdfc bank doesn't have outward remittance charges

lowkey the cleanest website I have seen.

@akm1410 @ujval_nanavati @MorningContext This is true for most emerging markets. Plus, the gap is closing in India - see our Gini coefficient over time. We are on the right track.

The richest Indian is worth $105 billion, and our per capita income is $2,500. In contrast, the richest Canadian is worth $38 billion, and their per capita income is $55,000, while the richest Australian is worth $29 billion and their per capita income is $65,000.

@mwseibel Incredibly grateful to you Michael. Thank you for believing in us.

Today after 12+ years at Y Combinator I’ll be transitioning to a Partner Emeritus position. This role allows me to continue to do office hours with the 1000+ companies I’ve worked with in the past decade while giving me the free time to explore new adventures. It also means that the w25 batch was my last batch funding new YC companies. The next adventure I’m excited to pursue (after taking the summer to relax) is how I can help government better serve its citizens. Thank you to the countless friends who have been pushing me in this direction for years. Government was the passion of my youth and I’m excited to reengage. Thank you to @ycombinator @paulg and @jesslivingston for changing my life.

@t_blom What about SoFi? Their wedge was student loans (a mass market product) and they went from neobank to a bank with $25B in deposits in 3 years. And even Robinhood seems on a clear path to acquire its bank charter (already have HYSA, Credit Card, Invest) - all very sticky.

I think there are 3 big reasons that mass-market neobanks haven’t taken off yet in the US. - Venmo and cashapp took the oxygen out of p2p payments in the US. This was a big growth vector for both Monzo and Revolut in Europe. - Much less frequent international travel by most Americans means that cheap FX isn’t as important as in Europe. Another big growth vector for Monzo and Revolut gone. - Credit card points (and building a credit scores to a lesser extent) are so central to mainstream US customers that a debit card + checking account is not even remotely attractive. The banks that already have massive scale can secure much greater share of interchange from the card schemes and fund higher reward points. Its almost impossible to compete on points if you’re sub-scale. Bilt somehow managed to convince Wells Fargo to fund a crazy good deal to give customers points on rent payments. But Wells Fargo are trying to back out of it because it’s costing them so much money.

@Zach_Kamran Oh wow we’re also in the middle of migrating away from fast api 😬

I am convinced fast api is a psyop to make people build software slower

@ankurnagpal I think tax loss harvesting is a bit overrated. It isn’t saving. It’s just deferring your tax liability. So basically you reduce your ST capital-gains while increasing LT capital-gains. This sounds useful until you realize the index fund you bought would be held for long anyway

Vanguard funds and index ETF's are a great way to start investing in the stock market But, once you get to a certain amount in assets, you're better off "direct indexing" or buying every single company individually Here is how it works (& my personal investment setup):

@AudreyDjiya Congrats!

Only the beginning!! #ForbesUnder30

@fondocom <3

🚀 Paasa launched! Build Wealth Across Borders "Invest in US markets from emerging economies" 🌐 paasa.com 🌍 Paasa gives high-net-worth individuals (HNIs) in emerging markets the same globally diversified portfolios as HNIs in America. 📈 Build a global portfolio, open your global investment account within 24 hours. Paasa handles your investing, tax and paperwork. 🧠 Investment strategies, personalized to you. Pick styles that are custom made for your risk profile and time horizon. 🎯 Set it and forget it, Paasa automatically rebalances and tax optimizes your portfolio for you. 🤝 If you’re in India and want to invest globally, reach out to the founders via email! Congrats @nitsahn & Sparsh Sharma!! fondo.info/4ej8ADQ

@anshnanda So cool

🤖🤖🤖