Ajay Zaveri

Wonder is the heaviest element on the periodic table. Even a tiny fleck of it stops time.~ Diane Ackerman.

[Ajay Zaveri @EntropyNotebook]

It is not the amount of knowledge that makes a brain. It is not even the distribution of knowledge. It is the interconnectedness.
~ James Gleick,

[Ajay Zaveri @EntropyNotebook]

@cspramesh Pl clearly understand that indian Medical insurance companies are legitimate Mafia and they not answerable neither regulatos nor their customers. Amrit Kal

[Ajay Zaveri @EntropyNotebook]

@Geeky_Foodie @ashvekambe Honestly, it's all gone now

[Ajay Zaveri @EntropyNotebook]

@aseemdhru Pl consider switching to Substack - your thoughts and writing deserves that eco system

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy Sir AM is super Bhakt

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy He also created world class institution and always remained humble and accessible

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy Absolutely- He always spoke his mind out without any fear and favour. Impeccable leadership

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy Rajeshbhai Vishwa Guru anteryami and trikal gyani chhe

[Ajay Zaveri @EntropyNotebook]

@Bharati09 @Sydusm It's same story in Mumbai

[Ajay Zaveri @EntropyNotebook]

@dmuthuk Self appointed Vishwa Guru will take care - nothing to worry

[Ajay Zaveri @EntropyNotebook]

@nihardesai89 @anujtiwari11 However, I personally have interacted with many Doctors who are absolutely well read and up-to-date with latest research and evidence but very poor in soft skills like patients communication and no faculty of empathy at all.

[Ajay Zaveri @EntropyNotebook]

@nihardesai89 @anujtiwari11 Having Empathy helps, it's not about evidence

[Ajay Zaveri @EntropyNotebook]

@upamanyuacharya India has Vishwa Guru - Thats makes all the difference 🤯

[Upamanyu Acharya @upamanyuacharya]

India will never produce an NVIDIA, and it has nothing to do with talent. R&D is the purest form of investment, and the central bank has spent decades making investment the dumbest thing you can do with a rupee.

I've been surfing the semiconductor wave for a while now, reading 10-Ks for fun. Spent last month in the Bay Area and the gap between India and the US is not a gap; it's a different universe. Conversations about agentic AI and the next decade of hardware, with my boomer relatives Waymo-ing around SF and self-driving home on Tesla FSD like it's normal. Nobody there thinks any of this is remarkable; they already live in the future.

NVIDIA spends nearly twice as much on R&D as every listed company in India combined. Silicon Motion, the world's leading maker of NAND flash controllers and around since 1995, ploughs 29.7% of revenue back into R&D. Micron runs 10.2%, NVIDIA 9.9%, on revenue bases that dwarf anything we have. India Inc? 0.85% of turnover, and half our listed companies report zero R&D at all.

The easy move is to lambast our promoters and the dhandomaxxing capitalist class, or the foreign MNCs running India as a glorified offshoring unit, or the babus who fund nothing useful. Satisfying. But Wrong. The reason no rational Indian founder pours money into frontier R&D is that there is genuinely no payoff at the end of it. Why?

1. R&D compounds, and compounding punishes laggards. At the edge of science a 1-2% gain is a moat; Intel spent 20+ years performing impossible physics every 24 months because Moore's Law was the business model, and that consistency makes them one of the goated companies of all time even after they got mogged recently. NVIDIA lives the same way today: invent at the limit or cease to exist. If you're 50% behind, no quantum of innovation closes that. You never touch the high end. You stay a mass-market producer of things that already exist. India is precisely there.

2. The supply side is the real thesis, and it's monetary. Two decades of high inflation, high money-printing, high nominal rates. That regime subsidises consumption and taxes patience. R&D is the longest-duration, highest-variance bet on the board; it is the first thing a 8% risk-free rate kills. Frontier R&D only ever gets funded two ways: a psychopathically risk-tolerant capitalist with cheap capital, or a state with Stalin-grade control. The USSR took agrarian peasants to the first man in space in 20 years; China built its own version. India has neither the state capacity, the political will, nor the balance sheet to do that. So nobody does it.

Talent was never the bottleneck. Capital structure was. If you want a SpaceX or a TSMC born here, you need an environment where a conglomerate can deploy $10B and sleep at night: a low-rate regime that makes long-duration investment rational, IP and patent courts that actually function, and policy that doesn't get rewritten every 2-3 years on a minister's whim. Stability is the input. Innovation is the output.

Bay Area versus Bombay, we are several universes apart, and you cannot print your way across that distance; you can only compound your way there, and we've spent years optimising for the opposite. The gap won't be bridged. With luck, it narrows.

[Ajay Zaveri @EntropyNotebook]

Marjane Satrapi, creator of Persepolis and acclaimed French-Iranian artist, dies aged 56 | https://t.co/CH6YfigAwP

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy @raretruth777 Circus and clowns are much better and harmless to the society. Not appropriate comparison

[Ajay Zaveri @EntropyNotebook]

@Geeky_Foodie @deeptiraonayak @zeal1992 Another NGO worth supporting is - They do phenomenal work

https://t.co/vsyPUHHICY

[Ajay Zaveri @EntropyNotebook]

@imacuriosguy They have enormous money, muscle, power, entire state machinery including EC and Judiciary and people continue to be gullible can be bought over easily by freebies and no alternative opposition leader.

[Ajay Zaveri @EntropyNotebook]

Trees and greenery can cool cities by as much as 18°C – but only if they’re the right type. https://t.co/4fbq2ZzSxq

[Ajay Zaveri @EntropyNotebook]

@Geeky_Foodie @Dr_AJ_MD However, your version on X is real, honest and genuine