Parambir

Co-founder Rifa AI || Automate back office operations using AI Agents

[Kaashvi Saxena @kaashvisaxena]

no Kaashvi was harmed during the making of this film by @AskSoca

[Chain On Top @ChainOn_Top]

If you’re seeing this, you’re early ⏳

Engage & proclaim your truth 📢

The Chain Gods are watching for the special ones 👀

[Jay Yang @Jayyanginspires]

My favorite people are walking paradoxes.

[Parambir @Parambir_17]

Have personally spent weeks figuring this part out

This is probably the most important thread you will find out there as an Indian founder incorporating in the US

Happy to have a chat to discuss specifics

[Sandeep Srinivasa @sandeepssrin]

Dear Indian founders incorporating in the US,
Half a dozen people have now pinged to ask me about this. So I'm posting here to reduce the number of phone calls.

here's collective wisdom of a few hundred YC India startups ok the correct company structure.
h/t to Anand of @inklehq who is the guru for all of them. You should talk to @getak100 for everything.

1. You CANNOT use Stripe Atlas, Deel or whatever else to incorporate. That's an instant FEMA violation that cannot be recovered from later. For an Indian citizen to buy shares in a US co, u have to do an ODI that needs RBI approval (even for 20$) and a UIN number. If u have done this through Stripe/Clerky/whatever, ur fucked. Close the company and start again. There's no easily known way to recover.

2. Each founder in India has to create a LLP. Individuals cannot buy shares in the US - without an even longer process. This is why, this is known as "LLP route". The gifting route is no longer legal. Trust me - this is like ED territory.

3. Use ICICI for this 20$ ODI. They will charge 15k INR for it. However all the other banks know jackshit about startup founders ODI.

4. Once the ODI happens, the founders have effectively bought shares and now you can sign those YC SAFE and receive money. This is a 2 month long process. You cannot receive money before this. Dear VCs (global and Indian) - this is how long it takes. Please be kind.

5. The only two law firms (that I know of) that work for startup founders in doing this is @CommendaHQ and Inventus.

6. If u want to take money from Indian investors, open a new bank account in US. And take money here from ur Indian investors. This money is kept separate and NEVER used for any Indian operations (roundtripping).
As long as u don't mix Indian investor funds and us investor funds, all compliance is fine.
There is some options route to take money in india and issue options in the US.

7. Once all of this is done, establish a Indian subsidiary pvt ltd and buy out its shares by the US parent. This Indian subsidiary is where the founders and the Indian employees will receive salaries. U cannot receive salary from the US in india as a founder. This is a tax problem. Just don't do it. But it's a minor problem.

[Parambir @Parambir_17]

@kaashvisaxena the comments look like a BITS Goa reunion right now 😂

[Parambir @Parambir_17]

Automation has advanced to where calls, documents, and entire workflows can be managed by AI alone—And this is just the beginning! 🚀

@RifaAILabs

#DeepMind #ArtificialIntelligence

[Parambir @Parambir_17]

How far has AI come in the last 30 years?

As I finished reading ‘Deep Thinking’ by Garry Kasparov, a world chess champion, I found out. Back in the 90s, Kasparov faced off against IBM's Deep Blue—an intelligent chess engine—twice.

He won the first match but lost the second 🧵

[Parambir @Parambir_17]

Fast forward to 2024, and we’re now seeing AI-powered robots like Google’s DeepMind mastering table tennis—a feat requiring not just cognitive abilities but incredible motor skills!

AI has thoroughly begun revolutionizing industries too…

Link: https://t.co/rmyu9HVg6y

[Parambir @Parambir_17]

@telljeeves @nitinsharma1 @AntlerIndia You may need some help automating the workflow to reach out to all these amazing folks. We can help!

Also, Build!😄

[Parambir @Parambir_17]

@kaashvisaxena @kaashvisaxena tonight

[Chris Bakke @ChrisJBakke]

Each of these rebrands cost $20-100M in salaries + agency and consultant expenses

[Parambir @Parambir_17]

🔥🔥🔥

[Sam Altman @sama]

my brother founded a unicorn, ran it well for a long time, is an extremely accomplished investor, is terrible at all video games, and can only squat about 150 pounds.

maybe "unicorn founder jack altman" would be a more reasonable way to introduce him?

[Parambir @Parambir_17]

❤️

[Parambir @Parambir_17]

Yeah, wow, this is fun

[SEC Chair Gary Gensler Archive @GenslerArchive]

The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

[Parambir @Parambir_17]

@kaashvisaxena @Saxenasaheb Still waiting for someone to amplify that Naval said "Happiness is a choice" before Bollywood

[TEACHMEDEFI @TEACHMEDEFI]

New Episode Out!🎙️

Understanding #Polkadot‘s Governance with @polk_gov 👨‍⚖️

Learn to shape @Polkadot‘s future w. MINIMAL effort & pump your bags:

- Vote with your $DOT,
- Delegate your votes,
- Launch proposals!

ft. @Parambir_17
w/ host @moeeinvest

Follow @TEACHMEDEFI 4 more!

[Polkadot APAC @PolkadotAPAC]

@mark_cachia_ @ingoruebe @DrW3RK @Web3foundation @Deloitte @Kiltprotocol @amitoj @CoinDesk @Parambir_17 talks about the community’s favorite: @Polkadot #OpenGov 👌

[rahul @0interestrates]

pulling an all-nighter at wework tonight like the guys playing violin on the titanic as it went down

[Parambir @Parambir_17]

Let @imVkohli stat pad in peace please.

So much pain seeing him go at 95, this hurts :')