veda

From CBE. 🇮🇳 - 🇪🇺 - 🇮🇳. Interested in random stuff. Centrist in politics. Shit poster.

[Qualitest @Qualitest]

We're proud to officially open the new @Qualitest Coimbatore Delivery Center!

To mark the occasion, our CEO, Andrew Duncan, joined the team for a traditional inauguration ceremony before the new office opened. Here's a look at some highlights from the day.

#NewOffice #Qualitest

[veda @vedaCbe]

@jaak_ash @CbeCorp Acquire land and build treelined pavements with bollards

[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.

[veda @vedaCbe]

@cvkrishnan @AvisharDutta Even the Chinese are still buying their electric transmissions from companies like ZF.

[veda @vedaCbe]

@dmuthuk If army makes exceptions then it’s a free fall for all.

[veda @vedaCbe]

@UpdatesChennai All known . Nothing new

[veda @vedaCbe]

@srkntnyldz Really funny to see Turks being this dumb

[veda @vedaCbe]

@jaak_ash @GkKarthikeyan @NammaCoimbatore @Senthil79172949 @zabeer_mohammed @_dhilip_dev_ @Adhibanprabhu @CMOTamilnadu @welovecovai @rockstarspartan @VigneshTvkCbe @tvksampathcbe please do the needful

[veda @vedaCbe]

@vvaayu True. Even let them stay with them all along

[veda @vedaCbe]

@nabilajamal_ Job registry sounds like the already existing employment exchanges. Instead of fixing them another announcement to grab eyeballs

[veda @vedaCbe]

@Osint613 😂

[veda @vedaCbe]

@dhume @kejimao @WSJopinion Rethinking has started the moment he started signing FTAs but any correction will take its time to appear in results

[veda @vedaCbe]

@cvkrishnan Your theory holds?

https://t.co/9mxhXEZDSs

[Krishnan @cvkrishnan]

@vedaCbe Or that they want to maintain the high premium brand of JLR so that they could sell cars at higher margins than Tata.

[veda @vedaCbe]

@jkmediasocial Casually unlocking the vehicle that could’ve been filed with 💣??

[veda @vedaCbe]

@IndianTechGuide Why would anyone give up IIT-B CSE seat?

[veda @vedaCbe]

@aadilbrar Is he a Chinese citizen?

[veda @vedaCbe]

@MrBsCoffee30 @TheOmnius The question is TATAs had deep sales & service penetration and how did they leave that first mover advantage to a new entrant?’

[veda @vedaCbe]

@jaak_ash @saysatheesh So metro too?

[veda @vedaCbe]

@jaak_ash @saysatheesh Is GH under him?

[veda @vedaCbe]

@madhavchanchani Expected. Sarvam’s business model is all about catering to Indian market needs. Why would they expect to receive same funding as world leading frontier labs?