@nithin An entrepreneurship question. I am a lawyer and I switched to marketing because I realized that it is almost impossible to practice the law honestly and see the color of money. In this country, it is simply not possible. Unfortunately, I realize that marketing is equally manipulative and you are mostly trying to psychologically influence people using their emotions to your benefit. We are sometimes essentially creating demand for products not based on need but by inducing FOMO. I often question the practice. Marketing also involves some degree of persuasion which leads to a final purchase/availing of a service which would not have occurred without the planned persuasion. In light of this, do you think Zerodha is an exception or is it possible to follow the Golden rule of Good Karma and run a business? Thanks
Ethically - Yes
100% - No
I keep saying this: find something you love to do, be ready to spend enough time doing what is right (good karma), and maybe you will get lucky. It helps if you are likeable because the chances of you getting lucky increase the more people want you to get lucky. And by spending enough time, I mean, with Zerodha, there were almost 12 years before Zerodha and maybe six after, so 18 years before luck hit us.
You can’t keep switching from being a lawyer to marketing. Every business has manipulation; it is up to you what you do to stand out among the rest, and most often, it is being truthful and honest.
Our business, by the way, is based on F&O and intraday equity traders. Most traders lose money, so our doing well is on the back of most of our customers not doing well. So, I don’t know how Karma plays out. But what we have done right from day one is not to be the reason our customers are not doing well. So, there are no push notifications or triggers to get you to trade more, no relationship managers, decently low brokerage rates, etc.
Thank you for the incredible insights Nithin. I really appreciate the viewpoint. This will certainly help me seek clarity. I realise that every undertaking unfortunately requires cutting some corners and the utopian scenario unfortunately does not exist. Being Truthful and Honest is certainly something I shall incorporate.
Cheers.