An easy way to get rich is to take more debt. Here is a complete breakdown:-
[A thread...]
[A thread...]
[1] India is a local demand driven (consumption driven) economy.
- Our population is young.
- People want to work hard and grow.
- And, people love to consume.
Our previous generations (parents, grandparents) have been very frugal with spending, but we are not.
- Our population is young.
- People want to work hard and grow.
- And, people love to consume.
Our previous generations (parents, grandparents) have been very frugal with spending, but we are not.
[2] Firms are reshaping our "saving oriented" psychology:
- BNPL
- NBFCs
- Banks
They make money, when you consume (and take debt). And, they are doing everything in their power to make you spend more (cash backs, EMIs, gift cards etc are all tactics)
- BNPL
- NBFCs
- Banks
They make money, when you consume (and take debt). And, they are doing everything in their power to make you spend more (cash backs, EMIs, gift cards etc are all tactics)
[3] More money is coming in:
Last decade saw a massive inflow of funds in the startup domains.
Despite the pandemic, more money continues to flow in.
Why? because everyone is betting that India's average income will grow from USD 2000 to USD 4000.
So who will get rich?
Last decade saw a massive inflow of funds in the startup domains.
Despite the pandemic, more money continues to flow in.
Why? because everyone is betting that India's average income will grow from USD 2000 to USD 4000.
So who will get rich?
[4]
1) Large Investors who invest.
2) People who benefit from others taking this debt by investing in NBFCs, Banks etc.
People who actually take debt and go crazy with spending- make others rich.
I teach curated courses on Stock Markets/Consulting: wisdomhatch.com
1) Large Investors who invest.
2) People who benefit from others taking this debt by investing in NBFCs, Banks etc.
People who actually take debt and go crazy with spending- make others rich.
I teach curated courses on Stock Markets/Consulting: wisdomhatch.com
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