Why is Paytm India's Top Startup?

Paytm was launched in 2010 as an Indian start up. The original service of Paytm was to help users to make their bill payments and recharge mobile phones, while earning reward point. In this post we will see the reason why Paytm is considerd the top indian startup and get more details about this startup. What is Paytm? Paytm was founded by Vijay Shekhar Sharma, in Noida with an initial investment of $2 million. Paytm's parent company One97 Communications which is also owned by Vijay Shekhar Sharma was started in 2000 and operates into multiple fields. Who owns Paytm? Paytm has been backed by Jack Maa's Alibaba and Ratan Tata of the infamous TATA Group. Although partially owned by Chinese company Alibaba, Paytm remains an Indian company with majority of stake holders being Indians (primarily Ratan Tata and Vijay Shekhar Sharma himself.  What got Paytm the required boost? Paytm added a lot of features in 2013 and moved from a mobile and DTH recharge service to an online payment pl

What is FIRE Living?

FIRE stands for Financial Independence, Retire Early. A concept that is popular with the millennials and it is spreading like a FIRE. So what is the concept of FIRE? This is not an MLM scheme where there are big farce promises at the end. It is not even an investment technique. Simply put, it is a way of life. The Intention: People who follow this concept have an intention to retire early. Save as much as you can and retire as early as the 30s or 40s. That's over a decade of early retirement. Process: When you are starting out, you live a very frugal life. Saving most of your earnings and investing in the right places. You don't have to have a fancy job or have a big business to live this life and retire early. Some of the examples of this frugal living are, taking a bike to work, or not smoking and not drinking. Saving up to half of the money you earn and invest properly. It will not make you rich overnight but it will add up at the end so you can

What are the ways to use Jugaad for Climate Change?

Before we ask this question, we need to look at the reasons that are causing the carbon emissions. Does using less gas, taking a bike to work or by changing the bulbs in our homes impact the climate at a larger scale? Let's look at the big ticket items that are affecting climate change. The top 10 countries that are causing carbon emission are doing so in the process of energy generation. There are plenty of climate-friendly ways to generate energy but is the world really utilizing it all? Investment is solar is the way forward. Its way more than what we need. Wind alone is more than enough to meet the world's hunger for energy. So what are we doing? While we are focused on making small changes to our lives to get more "ecofriendly" we are still highly dependent on coal, oil, and gas as our sources of energy. While solar and wind are not in the top 5 sources of energy generation. I do want to encourage everyone to make these sma

Jugaad Auto Rickshaw Motification

Is it a car? Is it an auto rickshaw? No its a Jugaad Rickshaw.

How jugaad helped solve bridge problem

In October 2011, as Western Railway raced towards its goal of converting its entire network between Churchgate to Virar to AC, engineers encountered immovable obstacles: bridges. There are nearly 10 bridges on the route, and engineers realised that their height would have to be increased to create adequate gap between the structures and tracks for a “safe jump” from 1,500 volt DC to 25,000 volt AC. The 2,500-tonne Sandhurst bridge between Charni Road and Grant Road was particularly a steep challenge. “We needed to raise its height by 32 centimetres. But we realised that even a mistake of 1 centimetre would lead to a collapse,” the official said. “It was the kind of an operation where failure was just not an option.” To avoid the risk of bringing down one of Mumbai’s busiest road links, Western Railway wrote to the ministry, and secured permission to simply lower the level of tracks under the bridge. The same clever improvisation was used for other bridges during the current co

Jugaad Mumbai local

Railway engineers have walled off some doors of a train to create room for extra electric motors - a clever and cost-effective improvisation that has helped boost the train’s power. As people walked towards a slow local for Borivali on Churchgate’s platform number one on Tuesday afternoon, they grappled with a never-seen-before oddity: almost every second coach of the train had only two sets of doors instead of the usual three. While many commuters dismissed the anomaly as a new coach design, it was the result of Mumbai’s famed concept of jugaad. Railway engineers have walled off the doors, also referred to as gangways, to create room for extra electric motors - a clever and cost-effective improvisation that has helped boost the train’s power. So now, the sealed areas of coaches 2, 5, 8 and 11 look like pantry cars of a Rajdhani from the outside. Over the years, similar tweaks (or acts of jugaad) have become a central feature of the city’s suburban train network. One of the mo

Simplicity Vs Complexity

Advantages of simplicity to larger companies The demand for simplicity is growing in many parts of the world and there are reasons why a large firm may also benefit by being simple. Some of the benefits are mentioned below: Customers are demanding simplicity: Any company, be it a large MNC or a local store has to provide what the consumers demand. The customers are now demanding simple products that serve the purpose. 65 percent of Americans complain that they are overwhelmed with the technology driven complex products. Change in the lifestyle of consumers: More and more people around the world are downshifting their lifestyles. Some are doing it by choice some unwillingly. This change in lifestyle makes it important for the large companies to give simple solution to keep serving this audience. Over-engineered products cost a lot of R&D and time: In a time of scarcity, companies can no longer afford to invest lavishly in R&D to come up with complex products. S