Man and Superman: India’s Prospects in the Age of AI (Part 2)

Now, I stand before you in 2023. The world has evolved. AI has quickened pace. There is both good news and bad news in that quickening of technological advancement. Let us start with the good news.

India has leapfrogged to an extremely positive strategic position. Some of this is due to the movements in geopolitics. American hegemony has ended. China has emerged as a parallel power with imperialistic ambitions. The West wants India on its side to counterbalance China.

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Man and Superman: India’s Prospects in the Age of AI (Part 1)

(Sramana Mitra discusses India’s Prospects in the Age of AI at the Ramakrishna Mission Institute of Culture in Kolkata, India on November 3, 2023)

It’s a real pleasure for me to return to this forum after four years. Thank you very much, Maharaj, for having me again and again. History is evolving rather quickly at the moment.

Catching Up On Readings: Thanksgiving 2023

Happy Thanksgiving to all our readers! This feature from TechCrunch looks at how Black Friday online sales hit a record $9.8B in the US and $70.9B globally. For this week’s posts, click on the paragraph links.

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Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 6)

Sramana Mitra: This is very interesting. The way you’ve stepped through the line of thinking of why you’ve arrived at these decisions is very instructive. Where are your schools?

Pallav Pandey: All over India. These schools are very different from typical SME clusters. SME clusters are very local. That is not how schools are. Schools are evenly distributed across India. The only way you can go and cover schools is if you figure out a telephonic way to reach out.

Sramana Mitra: Definitely.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 5)

Sramana Mitra: Education is the only passport to get to the next level.

Pallav Pandey: Absolutely. Everybody in India is very clear that if I have to go to the next level, it is my child who can take me there if educated properly. People are spending on education. If you are able to do EdTech in India at a thousand rupees per annum, then every single family is going to buy. We didn’t know how exactly it will play out. Blume got excited, so they put in some money.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 4)

Pallav Pandey: Then we had another divine intervention, I would say. He started collecting whatever money was due from schools so that he can pool up whatever was left. He said, “There is one school in Delhi which was opposite to your house. They were supposed to pay us some amount. They’re not paying us. They want to meet somebody senior.” The principal was insisting on it.

I met the principal. She said, “I’m very sorry to hold your payment to meet you.” She thought I was the founder. She said, “I really wanted to meet you. We love your product. This is how we use it.” It was a very simple ERP. Think of like WhatsApp for schools so they can do the parent-teacher communication via the app. She said, “I will refer you to a school I used to work with. We have three branches in our current school. Before referring you, I wanted to know who these guys are.”

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 3)

Sramana Mitra: I have coached and mentored hundreds of thousands of entrepreneurs. As a rule, I advise people not to follow this principle of releasing a free app or any kind of free service thinking that we will figure it out later. I want you to hypothesize that you are going to do a free app and it’s going to get a number of users. What is your premium service?

I don’t actually like freemium. I like free trial. Something you use for three months for free and then you pay for it. If that is a viable go-to-market strategy, do this business. Otherwise, don’t do this business. This is my mantra.

Cloud Stocks: Analysis of Atlassian’s $975M Loom Acquisition

Enterprise collaboration solutions provider Atlassian (Nasdaq: TEAM) recently announced its first quarter results that surpassed market expectations. The company recently expanded its communication capabilities with the $975 million acquisition of Loom.