How babus harm Indian Engineers:
I ran a US based startup. My engineering team was in India. Not in Bangalore or Delhi, but scattered across small towns and villages around UP/Bihar/Assam.
They were some of the best engineers I have worked with anywhere. The only thing they lacked was the ability to speak English like someone who went to a Delhi private school. That one accident of birth kept them off the rosters of every shiny startup.
I turned that into an advantage. I go find them. And I pay them exactly what an English-speaking engineer in Bangalore would get, without making them move. Same code, same salary. English fluency was never the skill I was hiring for.
Now I wanted to give them what my US team members had: ownership. A real piece of what they were building. For a young dude from a village in Gonda or Chapra, that can be generational, life-changing money when we exit.
But I could’t.
The moment an Indian employee exercise their options (convert them to shares), without selling anything they get taxed on the paper gain as salary (I have heard it could be as high as 42%). For a private company, no buyer, no liquidity, no cash. But they get slapped with a tax bill, sometimes larger than their salary, on money they haven't earned.
So, if I gave them equity, the choice I wd have forced on those engineers was: pay lakhs out of pocket for shares they can't sell, or give up the equity.
In the US employees pay nothing until they sell, and if they hold long enough, they may pay almost nothing at all (federal).
I have heard that in India , there is a "deferral" now. But if my info is correct, it covers ~2% of startups. Like most other startups, mine wont qualify.
The fix is one line: tax the shares when they are sold, not when they are bought. Every developed country does it. India could do it tomorrow but it does not.
Why?
Due to babus (not Nirmala S).
JUST WONDERING HOW MOMS are supposed to work 9-5, drop the kids off at school at 8 AM, pick them up by 3 PM, stay on top of school activities, meal prep, cook dinner, keep the house clean, do the laundry, run the kids to extracurricular activities, climb the corporate ladder, save sick days for when the kids are sick, be a good friend, daughter, and partner, all while trying to take care of their own body and mental health…
BREAKING NEWS 🚨 MHA has issued a notification to play the Full version of India’s National Song, Vande Mataram.
Until now, only the first 2 stanzas were sung. Now original 6 Stanzas will be sung/played.
Whenever the official version of the National Song is sung or played, the audience shall stand to attention.
When a man stands at the Red Fort, records his last video, and calls a suicide attack “martyrdom as per Islam”, we need to stop pretending this has “nothing to do with religion”.
It does.
Not the faith billions practice but the interpretation that radical networks have normalised for decades.
There is a problem inside the community. There are clerics who glorify jihad. There are WhatsApp groups, madrasas, preachers and YouTube “scholars” who sell death as devotion.
And our silence has allowed them to grow.
If we don’t name the ideological roots, how will we ever uproot the violence it produces?
This isn’t Islamophobia.
This is accountability spoken by someone from within.
India cannot fight terror alone if Muslims won’t confront the radicalisation happening in our own backyard. How much more proof do you need?
Red Fort wasn’t just a blast. It was a warning. Yet again are we finally ready to listen?
If you are planning an international holiday anytime soon, please avoid #makemytrip.
@makemytrip outsources to local operators with zero support or accountability whatsoever.
Had a horrible experience on a recent trip to Europe. Would never book with them again.
@DeepKalraMMT@deepkalra Shame on MMT for not cancelling trips to Turkey. MMT is arm twisting their clients to travel to Turkey by withholding free cancellations. For @makemytrip, business comes before the country!
Please go learn something from @EaseMyTrip
दीपावलिः अन्धकारस्य नाशाय, ज्ञानस्य विकासाय च अस्तु। सर्वेभ्यः दीपोत्सवस्य शुभाशयाः, यः ह्रदयेषु सुख, शांति, सौहार्दं च प्रकाशयतु।
May this Diwali dispel darkness and bring forth the light of knowledge. Wishing everyone a joyous festival of lights that illuminates hearts with happiness, peace, and harmony.
💎The Gateway 2024 is set for November 1-2 in Dubai! While we hope many of our community members can join us in person to celebrate the TON Ecosystem, we’ve also made arrangements for those who can’t attend.
Check out the livestream!
Day 1: https://t.co/P76PUiaudQ
Day 2: https://t.co/Icaz1nPPqd
Get ready for amazing keynotes from @steveyun_ton from @ton_blockchian, @ysiu of @animocabrands, @AlexChiocchi representing @LayerZero_Core, @masonnystrom from @PanteraCapital and more.
Join us at the Grand Hyatt Dubai!
Find us here: https://t.co/0Htl0fACFL
If you decide to attend personally you can still buy your tickets! 🎇
https://t.co/SbMy04VBYb
And if you want to get even MORE involved be sure to check out The Gateway 2024 side events:
https://t.co/8GXsiODo0W
We're launching $TON Teleport $BTC, enabling trustless BTC transfers to the TON Blockchain with our synthetic token, tgBTC! 💎
This fully decentralized solution transforms Bitcoin from an asset meant to be HODLed into a tool for DeFi activities like:
✅trading,
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✅and liquidity provision.
Now, we’re finally ready to share more about the bridge and the introduction of BTC on TON at the upcoming Gateway event. You can also join the channel for an early preview.
With TON Teleport BTC, we hope to open up a $10B opportunity for TON Degens, making TON the gateway between all cryptos and real-world utility.
To get the full scope of what this means for Bitcoin utility, cross-chain interactions and mass adoption read the latest blog! 📖 👇
https://t.co/eNWBLOGZtL
Jensen Huang takes the stage and the @nvidia AI Summit India is now OPEN.
Bookmark this thread 🧵 for live coverage from the event powered by @domains_ai#nvidiaaisummit#nameai