Zerodha

It was not a unicorn.

Zerodha was very small, less than 1 billion.

And then I think other we did Fasos.

Unacademy was very, very small back then.

The question is not what you and your personal life would pay for.

Imagine AI could genuinely do the work of 95% of the employees at Zerodha.

The question is what would you pay for it through Zerodha?

I think another way to think about it is that we are, like, translating AI and these tokens into, like, new capabilities, like, new discovering, new, like... new kind of ways to do healthcare, like medicine, biology, physics, like, and those things are, it's going to take some time into like seeing the impact of those things in people's lives, but it's going to happen.

And if you can, there's no, like you can't put a price in certain kind of applications.

And then we'll talk about who really gains from India's push for maize ethanol.

Welcome back to The Daily Brief by Zerodha, where we cut through the noise to help you understand what's actually happening in the most important stories from business and markets.

I'm your host Akshara.

Today is Friday, 23rd October.

And then we'll talk about India betting on better weather forecasting.

Welcome back to The Daily Brief by Zerodha, where we cut through the noise to help you understand what's actually happening in the most important stories from business and markets.

I'm your host Akshara.

Today is Thursday, 22nd October.

And then we'll talk about why pharma rivals settle instead of fight.

Welcome back to The Daily Brief by Zerodha, where we cut through the noise to help you understand what's actually happening in the most important stories from business and markets.

I'm your host Akshara.

Today is Wednesday, 21st October.

And then we'll talk about Yes Bank's 2020 problem being back.

Welcome back to The Daily Brief by Zerodha, where we cut through the noise to help you understand what's actually happening in the most important stories from business and markets.

I'm your host Akshara.

Today is Monday, 19th August.

Hi folks.

Welcome to another episode of Subtext by Zerodha.

I'm your host, Pranav, and behind the camera is my teammate Manjesh.

For a long time in my life, I wondered what is the value and cost of a government job in India.

There's a podcast I did maybe a year ago or two years ago with Nithin Kamath, and in the ending, he says something very profound.

He says that actually Zerodha has had no cost of acquisition for a very long time, and they don't run ads.

And he's like, "Our entire margin is exactly the cost of our advertising." The cost of advertising and the cost of whatever they would have spent if they didn't have organic reach, they would have had to spend that in acquiring customers.

They would have ma-made zero profit.

Some of them, the best ones are like, "Mm, I don't believe this." And more importantly, the best companies don't do this.

Next slide.

I'll give you another example of this, which is referral and affiliate programs, right? And I think I'll give you a good example of Zerodha.

And I remember this because somebody from Zerodha once told me this, right? Which is that earlier when they used to run affiliate programs, which is, "Hey, go open a Zerodha account," and you'd give that person who referred another person to the, to open a Zerodha account some percentage of earnings of the next guy, right? When they did that, sometimes