Ammar Ansari

Product Manager @PhonePe | ex-Founder, VC, Quant | @IITKgp

[Rahul Mathur @Rahul_J_Mathur]

On Saturday, I began my “10,000 hours of AI” journey in earnest

So far, I’ve been a fringe observer / user but reality has hit:

A large % of our portfolio is Enterprise AI (count & $ amount), the founder quality in AI continues to remain top notch.

My naive take is that in the next 10 yrs, the majority of net new MCap creation will come from AI (infrastructure, vertical agents, model providers, service vendors etc)

Therefore, I’ve decided to really double down on 5 activities ⤵️

[Ankit Sawant @SatanAtWink]

Snabbit just hit 500,000 monthly jobs. Pronto went from a $12.5M valuation to a $100M valuation in under a year. Urban Company's InstaHelp crossed 50,000 daily bookings in 11 months. Combined, these three are burning through $100M+ in venture capital to solve a problem every Indian household knows intimately: finding someone to mop the floor.

Let's be real. This isn't a new category. This is a 50-million-worker industry that has always existed - offline, informal, & largely invisible. What's new is that some people have figured out you can apply the Uber playbook to it. Ten-minute promise. Hyperlocal clusters. Trained & verified professionals. Rs. 150-199 per hour.

I've been watching this with equal parts excitement & dread because I've seen this movie before. Excitement because perhaps those messages from society groups about controlling someone's salary threshold & bonus might stop & the quintessential Indian family might have to fight a company vs. another family to retain with better salaries; dread because - well, you know why!

The early acts are always beautiful. Snabbit's workers earn Rs. 25,000-30,000 a month. Pronto has ditched the commission model entirely & offers guaranteed hours. Snabbit provides life insurance, health insurance, & an SOS button for workers who feel unsafe in someone's home. Urban Company's active service professionals reportedly earn an average of Rs. 28,322 per month. These are real, meaningful improvements over the old world - where a domestic worker negotiated wages alone, had zero recourse against harassment, & could be fired on a WhatsApp message.

But here's the thing. We know how Act Two goes.

Uber drivers in India once earned enough to quit bank jobs & buy new cars on EMIs. Today, IFAT reports those same drivers earn Rs. 500-800 a day after platform commissions - a 43-57% decline from pre-pandemic levels. Platform take rates crept from 20% to 30%. The delivery radius expanded from 4km to 20km. Incentives disappeared once market share was locked. A Bengaluru cab driver recently wrote on Reddit that he works 16 hours a day, earns Rs. 4,000, & still can't save a rupee. "Cheap labour is why others can enjoy privilege," he wrote. "Either be the exploiter or be exploited."

This is the gig economy's original sin. The pitch deck says "upliftment." The P&L eventually says "margin."

Snabbit charges customers Rs. 150/hour. Workers earn Rs. 25,000-30,000/month for what appears to be full-time work. Urban Company's InstaHelp is losing Rs. 381 per order as of Q3FY26, down from Rs. 760 in the quarter before, but still deeply negative. These unit economics have to converge somewhere. And historically, convergence has meant the worker absorbs the delta.

I always ponder whether formalisation is genuinely better than the informal arrangement it replaces. A domestic worker in Bandra who works for three households directly might earn Rs. 15,000-20,000, set her own hours, build long-term relationships with families, & negotiate annual raises. A Snabbit expert earns more per month - but is now positioned 250 metres from the next job, managed by an algorithm, rated on every visit, & one bad review away from reduced assignments.

The honest answer is: both realities exist simultaneously. And that's the uncomfortable truth about how progress actually works.

India has 7.7 million gig workers today. NITI Aayog projects 23.5 million by 2029-30. The Social Security Code of 2020 mandated that 1-2% of platform revenue be allocated to a worker welfare fund. It still hasn't been implemented. Unions like IFAT & TGPWU exist with 40,000+ members, but most platforms refuse to engage with them. The Fairwork India ratings tell the story: Urban Company scored 5/10. Uber, Ola, & Porter scored 0.

So does humanity do better? Here's what I think.

Platform formalisation creates a visible top layer of workers who genuinely benefit - regular income, insurance, training, dignity of uniform & verification. Snabbit's 100% women-led workforce getting bank accounts & insurance is not a small thing. It's transformative for thousands of families. But the same platforms, at scale, inevitably create a long tail of fungible, algorithmically managed, & structurally unable-to-negotiate workers. The visibility that helps the top cohort also makes the bottom cohort easier to control.

This is the pattern across every gig category. The first 5,000 Uber drivers in Bangalore did phenomenally well. The next 50,000 subsidised their lifestyle. The first 5,000 Snabbit experts might build real careers. But when it's 50,000 experts across 200 micro markets, the math changes.

The house-help startups have a narrow window right now - maybe 18-24 months - before unit economics pressure forces the squeeze. Pronto's "guaranteed hours, no commission" model is the most worker-friendly structure I've seen in any Indian gig company. Whether it survives contact with a Series C investor asking about margins is the real test.

I hope these companies prove the Uber trajectory wrong. I hope they build something where the worker's income goes up as the company scales, not down. But hope isn't a business model. The structural incentives of venture-backed, growth-at-all-costs marketplaces haven't changed.

The question isn't whether we'll formalise domestic work. We will. The question is whether formalisation means Rs. 35,000/month with insurance & dignity - or Rs. 150/hour with an algorithm as your boss & a rating as your leash.

I genuinely don't know which way this goes. But I know the answer depends on choices being made right now, in board rooms that most of these workers will never see.

[ジベっち @Enzof40F50]

鹿さんとケーニグセグ

[dupontregistry @duPontREGISTRY]

Miller Motorcars Delivers Its First 1-of-40 Bugatti Bolide Racing Hypercar

Only 40 examples of the Bolide will be made, and they are starting to be delivered to their customers, with renowned dealer Miller Motorcars and its Bugatti Greenwich location, home of award-winning Bugatti Brand Manager Evan Cygler showing off its first Bugatti Bolide example to be delivered to its customer

[Kyle Fletcher @KFLETCH___]

Met up with a new friend. Brought his stunning GT3 all the way from Romania to here, Miami. What a journey, what a car. Let’s have some fun today. Happy Wednesday everyone ☕️

[Car Culture @CarCultureCC]

Pagani Huayra Hermes 💼

[dupontregistry @duPontREGISTRY]

2015 Porsche 918 Spyder | Asking Price: $2,499,800

This 1 of 1 example is presented in a stunning Paint to Sample Grey Black Exterior over a Black Leather/Alcantara Interior with Acid Green Piping. It features over $30k in additional factory options!

[dupontregistry @duPontREGISTRY]

2015 McLaren P1 GTR | 1 of just 58 | Asking Price: $2,599,995

This highly exclusive track only model was only offered to buyers of the road going P1, making it significantly harder to come by & this particular example has been kept in factory condition with just 150 miles!

[ATM @LaMontre18]

Nombreuses sont les immenses pépites sur le salon, ouvrez bien les yeux

[Goodwood FOS @fosgoodwood]

Some pretty impressive burnouts off the line in this #McLaren F1 GTR, in our favourite livery too. #FOS

[ExoticBMW @ExoticBMW]

BMW M4 Competition 💣

[Stinna @stinnalakota]

Black widow coming through 🕷️💨

[TechCrunch @TechCrunch]

Chinese VCs are hounding failed founders to claw back their investments https://t.co/OTvCUftg2R

[Interesting Engineering @IntEngineering]

iPhone-LiDAR tech to dramatically improve machine vision even in darkness
#CES2025
https://t.co/Q9TgBWXcvl

[Earl Karanja @Earlsimxx]

25 years later and this design is still present time. The SLR McLaren 722 Coupé 🔥

[Nakaknobro @PhysicalFucking]

Tell me how you evaluate me and I'll tell you how I behave.

[Jason Carman @jasonjoyride]

Bell Labs in the 1900s was INSANE. They invented:

‣ Lasers
‣ Vacuum tubes and transistors
‣ Solar cells
‣ Cellular networks
‣ The 1st communications satellite
‣ The C and C++ programming language
‣ Claude Shannon's information theory

And so much more...

[Arvind Subramanian @arvindsubraman]

An accessible version of the @FT piece on the manufacturing surge in Tamil Nadu and the lessons for its revival in the rest of India