Full Stack Capital

You can cut all the flowers but you cannot keep spring from coming...

[Full Stack Capital @thefullstackcap]

Absolutely!

#ProudInvestor @GulatiSinghJ

[Dr Ritesh Malik @drriteshmalik]

Excited to be a board member & first investor in https://t.co/8zXKdnCHqg brilliant execution by @vinaykrsinghal & team! @BBCWorld Bharat’s Grassroot OTT.
https://t.co/lfTwGIXsUo

[Harshdeep Rapal @harshdeeprapal]

Finally at #1

AI Contract Generator.

[Full Stack Capital @thefullstackcap]

We, as a society, are moving away from business models that made every cent count to business models that make every second count.

[Arnuv Joshi @ArnuvJoshi]

🚀 AI Voice Tech 🎙 Startup @dubverse_ai seeks GTM wizard!

After scaling the creator product to mn+ users, https://t.co/7Pqd2jpF0N is launching AI voices & needs a growth hacker who speaks 'developer'.

Note this is a part-time role, ideal for people who can learn on the go.

[Full Stack Capital @thefullstackcap]

Compliance should not be optional!

[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.

[Kashish Sharma @kashisharma_]

🚨 The deadline for dematerialisation for Indian unlisted startups is around the corner - 30th September 2024!

So far no circulars on deadline extension have been officially released, so best to believe that these deadlines are still persistent.

General behavior in the ecosystem we are seeing:

- Many startups are now scrambling to get started (unfortunate, but expected).
- Many had begun the process a few months ago (3-4 months back) and are unsure of the progress (haven't even gotten their ISINs created yet).
- Those with ISINs issued are struggling to coordinate with their shareholders for Dematerialisation Request Form (DRF) submissions and share certificates.

CDSL and NDSL reportedly have amassed quite a backlog of companies that are waiting for ISIN issuances.

If you still haven't started the process so far or are struggling to collate the required information and documents, then reach out to us @EquityListHQ, drop me an email at - [email protected]

While we currently can't assure 2-3 weeks of an ISIN turnaround (timelines that we were witnessing earlier), but can at least do all the required heavy lifting and give you the much-needed push.

#dematerialisation #India

[anu @anuatluru]

if you’re building consumer software, the branding matters just as much as the tech now

[Harshdeep Rapal @harshdeeprapal]

Once you find oil, stop digging.

[Vaibhav Domkundwar @vaibhavbetter]

the downside of the founder mode piece (pg refers to it in the footer) is that now many founders are going to use founder mode as a way to explain everything :)

[Akshay Chaturvedi @Akshay001]

Late to the #FounderMode piece
(is it already muted out?!)

One, couldn’t help but realise the irony of investor-types hyping it ..

Atleast in my limited experience, in India 🇮🇳, where Founder Mode operates for real in the most seamless way, I’ve seen investors advise the exact opposite as companies start to grow in size. Sadly, a lot of early stage VCs, who should encourage a founder to be truly 24*7*365, also end up hiding behind their expensive suits, making sure the 5-6x is hit, the IRR is intact, etc etc

Building a company is excruciatingly hard. Let nobody convince you otherwise. Its been years since I’ve caught a wink without a very full head. I can’t remember not sleeping with my problems, and in a eureka fashion waking up with a mad solution to them so many times. Forget the founder being in founder mode, I have infact very forcefully tried to create as many founder mode founders as I could in my company. I still do it everyday. I engage with everyone who I hope can operate like a beast, on a mission, to truly play the big game of life, to operate at a space that is much larger than themselves.

Two, not surprised at all this talk came from Brian Chesky, someone I have idolised for more than a decade. When an Economic Times interviewer asked a much younger entrepreneur-me who would I want to be with if stuck on an island for a day, I’d mentioned his name. Damn, even my first pitch deck for Leverage said we are an “AirBnB of Careers”

And Chesky isn’t just saying for the sake of it. If any tech world nerd (or should I say tech bro?) has followed how he has operated for the last couple years, it’s got FOUNDER MODE WRITTEN IN ALL CAPS again and again. Honestly, thats what it takes. Any founder who is remotely serious about building a generational company knows that!

Over last 12 months in particular, albeit nowhere similar the scale at which Chesky and other legends are, I was told I need to “switch” by way too many people. I’d assume they had my best interests at heart. But I also knew they don’t really get it. And so, what has transpired is the latest version of myself resembling an even more all-in avatar than any of the past years. I have never felt more alive ..

The @paulg piece was also pretty timely for me. Just earlier this week I expanded our “A3 Team Leverage”, that houses Emerging Leaders who I & the leadership really believe in, to over 70 people. Just shy of 10% of the company. I tried to pass on the DNA, current, belief whatever you want to call it in a dozen 1:1s through the weekend, and I was more surprised at what it did for me.

Haters gonna hate.
That’s fine.
Got to keep building away. One day at a time. And we will get there one day

[Full Stack Capital @thefullstackcap]

Over the last 7 years, the meaning of the word "remote" has been diluted to the extent where you can't recognize whether a village/town is actually remote.

All thanks to Digital!

[Ravi Baranwal @RaviPBaran]

🚀 Scaling SaaS isn’t easy, but it’s essential! At @LegittAI, we’ve learned key lessons in tech stack choices, microservices, & adaptable AI. Dive into our journey fm startup 2 global platform in my blog. #SaaS #Scalability #AI #TechLeadership #Startups https://t.co/xrjDSvvV2P

[Kunal Shah @kunalb11]

Startups are turbulent and need war time people.

Peace time people are a liability to them.

[Dubverse.ai @dubverse_ai]

🎤 Bringing the news to life with a dash of humour and a splash of colour! Meet Khabrilal, our lively reporter on the job. Our AI-powered voiceovers are as emotive and expressive as Khabrilal himself. Stay tuned for more vibrant updates! 🎙️ #AIvoice #Dubverse #NewsWithATwist

[Full Stack Capital @thefullstackcap]

The presence of Zudio in Patna, which implies achievement of PMF, is a bigger sign of its success than the queues you'll see outside any Zudio store in a metro city.

[Arnuv Joshi @ArnuvJoshi]

Exactly what we have been discussing at @thefullstackcap

[Full Stack Capital @thefullstackcap]

100%

[Vaibhav Domkundwar @vaibhavbetter]

ai agents are apt for a country like india.

like we leapfrogged landlines straight to mobile, maybe we leapfrog software straight to ai.

[Full Stack Capital @thefullstackcap]

100%

[ProductNation/iSPIRT @Product_nation]

Why is it important for India to become a product nation? asks @vipin_sondhi and Professor Rajendra Srivastava of ISB, Hyderabad @ISBedu

https://t.co/TzCvSReSAA

[jaivardhan @jaivardhan88]

SCOOP: Even Healthcare has raised $20 Mn in a new round led by Khosla Ventures. The fresh funding for the Bengaluru-based firm has come after a gap of 20 months. A🧵on Even new funding round.

[Full Stack Capital @thefullstackcap]

100%

[Harshdeep Rapal @harshdeeprapal]

After our first implementation for a billion dollar client, where we integrated with Salesforce (because SFDC does not have the AI capabilities Legitt AI has), we are on to our next integration with SFDC for a US based client.

From now on, while creating a proposal with Legitt AI, you can check what margin you are going to make on the deal (and how much buffer you have for negotiation).

This is going to completely transform how (fast) sales teams close deals.