The Indian market is very different from other countries. We try to maximise the value we get per rupee before making any purchase. Great point Carl, this was an insightful video!
"We try to maximise the value we get per rupee before making any purchase." No, it is because majority of india is extremely poor. So most will only be able to buy the cheapest product available. Rich indians always buy iPhone but 70% of india live way below poverty line. So for around 25%, they can only afford the cheapest product available which is usually a chinese phone. This is just facts not value for money.
@@magicmagus1459 nope,it's the Indian mindset and hypocrisy .I've seen many bargain from street vendors while paying extra in shops like Zara.We live in a very hypocritical society.My father who has his own real estate business uses a 20k Vivo phone while his driver uses an iphone 13 .I buy Nike t shirts for the driver while i have never bought a Nike or Adidas or any branded t shirt or anything coz it's a waste of money for me.Its the mindset that gets created in poor societies about brand defining status and poor and middle class people mostly falls for it while actual rich people properly manages their expenditure and hardly cares about brands.
Some IMP Moments 1:04 Funny Start by Carl 3:40 If we didn't try, who else would 8:03 Carl thoughts on Nike 9:56 Building a Brand 12:18 Strongest competitive adv. for a company over a long run is its Culture 12:37 4 Values of Nothing - Be the change, Pride and Product, Diversity and Survive. 16:20 Kunal on Pride and Product 17:15 Gut Feeling 31:23 Practically No Competition in Smartphone Industry (Apple vs Others) 36:04 Kunal insights on Mediocre talent 37:00 Not just about owning details but about predicting accurate details 37:06 Being very right often is a sign of great talent 41:30 You can't build substance in life unless you are consistently putting your wealth, reputation and health at stake 41:51 Young people in India are worried about their reputation, though they have none - Not taking risks, Not pushing limits because of it Questions from Kunal 1:55 Why did you start this company, What is unfinished business you are trying to accomplish 4:00 You could do easier business, Why hardware? 5:19 How to build a brand? 10:25 Why is it hard for people to understand the importance of brand 11:54 What were the values you agreed upon while starting Nothing and at what stage they accomplished 17:33 Starting with lower price point and then move to next levels. What about that 22:01 Insights behind the design 24:27 Vanity for the sake of vanity should exist in the product 25:20 Two of the biggest crisis you have deal with 27:25 What you are most scared of? 28:46 Difference between Indian Consumer and Consumers Outside of India 30:53 How did Nothing created market environment for their premium category 30:05 What's your role in company? 34:22 Traits of mediocre talent 43:00 Teams Questions
A lot of learnings here💯 Especially this👇 Trait of mediocre people: They seek for external validation to measure how well they are working instead of being sure in themselves that they've delivered work to the best of their capacity.
'Trying to think though there is NOTHING on the mind, brings SOMETHING to the mind' Carl Pei got SOMETHING called NOTHING💪 Worth watching the entire podcast❤ Quality one!
At 17:12 when Carl says 'Gut feeling is not random' - the editor of this video has done a great job to capture the head movement of the lady. The moment just makes the belief in the statement stronger.
Kunal shah is like the movie - “everything everywhere all at once”, you don’t always need to do how it is supposed to do. CEO interviewing CEOs in front of the organisation. Kunal is not building a product/ company , he is building a cult.
What I mean is just like zoho mafia we will soon have cred mafia - incredible companies out from ex-employees of cred. All because of the kind of leader Kunal is.
His leadership skills are definitely good. Personally, I feel he's too philosophical sometimes. But overall, yes, we may soon see talented people from Cred too.
Kunal Shah may very well be smart, but he is a little too self-opinionated for my taste. I wonder if he thinks people who are quiet are not curious, simply because they're quiet?
But look after your casino app (CRED). Where payments used to settle instantly now is facing a lot of failures along with long settlement time for hours and hours.
Nothing seems to have cracked the code for marketing in the post-pandemic era. To put the main guy in the spotlight, first with Beerbiceps and then with Kunal Shah, is a risk that paid Apple very well (Steve Jobs' iconic presentation for iPhone launch). Something which chinese companies could not do, and currently Apple is not interested in. Will be fun to watch Nothing sales graph in the coming year.
Loved the conversation....from Kunal its always a deep learnings.... One quote I could probably take away form here is You cant build substance in life unless you are consistently putting your wealth,reputation,and health at stake. ~Kunal Shah
one is business men, another one is innovator, thats pretty sums up everything that why we dont have such indian brands who deals with smartphones, business men cannot run companies like apple, nothing etc, innovators and engineers does.
Best conversation happened when you ask right question. Kunal did it every time he spoke. Weather he is on the answering side or host side, he always did a great job. Refreshing experience to heard Carl and his story. Love it.
One of the best interview I had watched so far I was eagerly waiting to watch these interview & it's totally worth it. Kudos to both kunal shah & carl pei.
Why Cred have not establish customer care in India, It's big question mark. When Indian customer have any issues and faces any transaction problem, customers have only one step-"WAIT & WATCH" "WHEN INDIAN CUSTOMER GOT CUSTOMER CARE"
The amount of data Xiaomi, Vivo, oppo collects, It's just scary. I used to use Xiaomi phone and few permissions are taken automatically and people can't revoke them. Permissions include body movements, location, call history, messages, sensor etc for a security app which doesn't make sense. 🤷
refer later 04:00 hardware is hard 05:35 importance of a brand 06:23 hunger as motivation 11:38 difference in countries 17:08 what is gut feeling 20:44 be an ant (vs lion) 34:22 medicricity 36:31 dog owner vs dog walker 37:20 lack of curiosity 44:08 compounding people 42:32 just want to learn 43:40 fast follower startegy 48:37 on idiots
Mindset of Indian consumer :- most value for money stuff within a set budget . Like what is the best value that a company can provide at 15k . That's how I do it atleast .
validation from other people is a disease...because no matter how good and great u perform...there will b so many people who will definitely judge you without analysing anything....so it is better not to crave for a positive feedback from other people and just focus on improving ourselves....and having random curiosity is also very very important because first thing is we dont get bored of doing the same task again and again and second thing is random curiosity increase the understanding levels and will definitely help in connecting the dots.
Loved watching this. Funny enough, he didn't answer my favourite question among those - what are the learnings so far from challenging industry giants like Apple and Samsung? Could we bring him back to answer those?
It could be better if you removed the distractions After all this was amazing podcast Vijay setupathi as host is really amazing , cred should keep this guy as host
Loved the podcast, however I just noticed how differently these two guys think on one hand we had Carl who emphasised on how the top management must be efficient at collaboratively working with his colleagues even when there are differences because it is your responsibility to be able to sort the differences. On the other hand Kunal believes that some people never take Criticism constructively. I so wished that he would take the responsibility of delivering the Criticism in a way that might help the other person. Just complaining about it with no solution won't help.
