I'm a 4th-generation stockbroker. My family ran a brokerage in Calcutta and we operated things old school. I don't come from a tech background but I was taught to view every business transaction from a client servicing point of view first and revenue second. We came from a school of thought where brokers are like lawyers, doctors. You don't solicit business by selling fear or greed.
Making money is important and it's the reason you do business, but the only way to sustainably make money is to keep adding value to the folks you serve.
I shut down my family's brokerage because running one in Calcutta in your early twenties, without an understanding of tech or mentors who align with your principles of doing right by people, is nearly impossible. It wasn't losing money. I just couldn't run it the way I believed it should be run. For the most part, I had written off ever working in the capital markets.
Then I found Nithin and Zerodha, and the philosophies aligned from day one. No notifications designed to make you trade more, no ads, no tracking your usage to squeeze more revenue. Zero brokerage on delivery, even though every other broker charges for it. That is ₹25,620 crore in revenue we chose not to collect since 2016.
We have never raised external capital so there are no investors to show growth numbers to, no pressure to justify revenue targets. And yet 25-30% of our accounts still come from referrals because people who use Zerodha like what they see and tell their friends and family.
"Don't do unto others what you don't want done unto you" is not a tagline, it's how this place actually runs.
I had an overseas business visitor to Biocon Park who said ‘ Why are the roads so bad and why is there so much garbage around? Doesn’t the Govt want to support investment? I have just come from China and cant understand why India can’t get its act together especially when the winds are favourable?’ @siddaramaiah@DKShivakumar@PriyankKharge
We (@zerodha) are excited to announce the launch of a dedicated fund aimed at providing financial assistance to Free/Libre and Open Source Software (FOSS/FLOSS) projects globally, with an annual commitment of $1 million. Read more here: https://t.co/o7dF6ZipEI
The Arsenal Bangalore membership for the season 2024-25 is open and we're excited to have you all on board. We have put in our time and effort in coming up with a membership kit that our Bengaluru Gooners can take pride in sporting and representing.
https://t.co/Kib5KIMx51
In #USA 30% tax slab starts above INR 150L ($182100)
In PPP terms it's 37L India Salary
In #China 30% tax slab starts above INR 48L (CNY 420000)
In PPP terms it's 23L India Salary
Here we start 30% tax slab above INR 15L
In USA you don't pay capital gains tax if your annual income is less than 39L ($47000)
In PPP terms that's 9.5L
So we are already paying more taxes than developed countries
In return don't even talk about Infra , Social Security or Healthcare benefits for Taxpayers.
“Kursi Bachao” Budget.
- Appease Allies: Hollow promises to them at the cost of other states.
- Appease Cronies: Benefits to AA with no relief for the common Indian.
- Copy and Paste: Congress manifesto and previous budgets.