Daybreak

If you’ve ever taken a loan from a non bank or an NBFC, the EMI is usually auto-debited from your account every month. But if you missed a payment, you know what usually goes down. You are inundated with phone calls from your lender and maybe agents even start visiting your home. Not an ideal situation for you or your lender.But now, your lender can just monitor your account and deduct the money as soon as it comes into your account…all thanks to that auto-debit permission you granted. Earlier, only a bank could do this when it lent money to its account holder. But now non-banks can do it, too. A fintech executive told The Ken that this tool will soon become business as usual in every lender’s tool box. But things are still not there yet since the banks are not predictably sharing the statement data or their servers are down.And here’s where account aggregators come into the picture. These aggregators are a newly-created class of licensed companies by the Reserve Bank of India. They basically help businesses exchange financial information about a user after taking the user’s consent. Meanwhile, Navi Finserv, a four-year-old non-bank, was quite particular about how fast it could help its users take out a loan. Navi’s co-founder and CEO Sachin Bansal—who previously co-founded the Flipkart —believes “banking should be as easy as going on Swiggy and ordering food”. So to amp up both disbursals and collections, Navi and others like it are counting on account aggregators. But being able to access a borrower’s bank statement at any given time is a powerful collection tool.And the problem is how Navi has been using this power.Tune in. Subscribe here to listen to the full episode of Two by TwoListen to the free version of Two by Two here: AppleSpotifyDaybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

In many ways, electric vehicles today are where mobile phones were in the early 2000s. It’s December 2002. Mobile phones have entered the market, but the average Indian is still pretty sceptical. Cell phone connections are patchy and more importantly expensive. Devices themselves were unwieldy, limited and again…expensive. Basic services like sending a text, or a voice mail, or call waiting were considered ‘add-on services’ and they needed to be purchased separately. So most people thought it just wasn’t worth the investment. That was until Reliance came in and changed everything. Back then, Mukesh Ambani launched Infocomm. The idea was to make telephone calls in India as cheap as sending a postcard. And it worked. Slowly, as costs started to drop, more and more people saw sense in adopting mobile phones, and eventually abandoning landlines altogether.This episode is by no means a history lesson. But that context was important. Because India is almost exactly where it was back then. Except, the device they are on the fence about is now electric vehicles. And the company in question now is JSW MG Motor. Funnily enough, the solutions that JSW is coming up with are eerily similar to the Reliance strategy back then. It's biggest proposition? A subscription plan for your EV battery.Tune in. Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Cloud, streaming, generative AI… while all of these are increasingly becoming hot topics of discussion, data centres—the large, boxy buildings that house high-powered computers—are looking for innovative solutions to stay cool.The advent of GPU processing has opened an opportunity for a handful of foreign companies to throw their hat into the ring. Their proposition? Liquid cooling. So far, air cooling has been the preferred way to keep data centres cool. Like its name suggests, it is the process of using air to keep these centres cool. Liquid cooling does just that but with water. It’s more efficient and largely believed to be a better way of cooling. But change does not come easy. Many data centre operators here in India believe it is riskier than air cooling. But with AI technology advancing the way that it is and GPUs growing more popular, they may soon not have a choice. Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Hurun India began curating rich lists a decade ago. Now, it has moved up ahead of ranking giants like Bloomberg and Forbes with 17 lists so far. It has a Global 500 list, similar to Bloomberg’s Billionaire Index. In fact, at this point, its safe to say that it has replaced Forbes as the most trusted choice for bankers and wealth managers.  Hurun has managed to turn showing it off into a cultural trend despite the fact that wealth is often wrapped in secrecy in a country like India. So what's really driving India's obsession with ranking the richest?Hurun India has grown way beyond its original rich lists, creating rankings for just about everything you can think of—from self-made entrepreneurs to top art collectors. They even track billionaires by zodiac signs. Today we look at Hurun India beyond just these lists— a closer look at the behind the scenes relationship it has with wealth-management firms, and how it keeps the ultra-rich happyDaybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Last Sunday, the Daybreak team joined a run club! Why, you ask? For research, of course. We wanted to understand the recent run club renaissance, that has taken social media by storm since the beginning of the year. Run clubs, in the traditional sense, have been around for decades now. But now, something has shifted. The new generation of runners is younger, less experienced, and relentlessly social. Young people are looking for new avenues to meet people in real life and to connect offline. This isn't just limited to running. Social clubs in general are really having their moment. These are clubs that are centred around an activity — like hiking, painting, reading, even knitting. In search of meaningful relationships, sometimes even love, they are putting down their phones and pursuing hobbies like never before. But what led to this sudden resurgence of social clubs? Was it the pandemic? Loneliness? Social media fatigue? Or something else entirely? Tune in to find out. Special thank you to the 56 Run Club for collaborating with us for this episode. You can follow them on Instagram to get the latest updates on their runs and events. Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

On November 13, food delivery giant Swiggy made its public debut. It listed with a 8% premium over its IPO price of Rs 390 on NSE at Rs 420 and was oversubscribed by nearly four times. While it's a bit early to comment, investors are not making strong bets on it yet. Hust to give you context, when Zomato went public, its IPO was oversubscribed by 38 times. This could be because the company is still posting losses on a consolidated level and is expected to be 2-3 years away from reaching profitability. It took Swiggy nine years till its food delivery business finally turned profitable last year.Today, we revisit an episode of Daybreak in which we’d talked about what was happening behind the scenes of Swiggy’s IPO preparation.Tune in.Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

For quite a while now, the Indian startup ecosystem has really been feeling the pinch. People in the know call it the funding winter. These are periods of tremendous financial insecurity for startups, particularly now. You see, for the last five years ago, the startup funding culture here in India was like a rollercoaster that was only going up. But now the scenario has changed considerably. After a dream run, big-ticket equity funding has slowed down and once sky high valuations are very quickly coming back to Earth. These startups still need the money, obviously. But they have realised that raising a round of funding may not be as easy as it once was. But they have found their knight in shining armour. In comes ‘venture debt’. These are essentially loans that go to VC-backed startups. A lot of the startups in the Indian ecosystem are thirsty, and venture debt is increasingly proving to be the refreshing splash they needed amid this funding drought.But there's a catch. Tune in.  Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Last year, Nykaa decided to reshuffle its marketing structure after the company’s previous Chief Marketing Officer (CMO) exited the company.  Instead of immediately filling the spot, Nykaa decided to break the role apart and have two marketing heads. One to look at performance marketing – the more technically, data-driven side of e-commerce, and another as the head of organic marketing – the creative, freewheeling stuff. The move sent out a clear message: a singular CMO is no longer necessary. This isn’t exclusive to Nykaa. Several online-first companies – Firstcry, Ixigo, Yatra – have been running without a CMO. But for decades CMOs have been seen as the charming, confident face of the company responsible for all things brand-building. What's changed? Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Last month, in October 2024, the government of India launched the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, a health insurance coverage for all senior citizens aged 70 and over, regardless of income. This is big news for healthcare in India because for the longest time, this is exactly the age group that has pvt insurance companies have been ignoring.To give you a clearer picture, a person aged over 60 years pays anything between Rs 30,000–50,000  as annual premium for coverage as low as 5 lakh rupees. Even policies for Rs 6–10 lakh are harder to find and cost Rs 40,000–70,000 annually. That’s about 5X the premium someone younger would pay for the same coverage. And it’s not just the high premiums; these policies are of little help to seniors when they need it the most. In fact,  more than four out of every five people aged above 60 aren’t covered by any insurance at all. Only 20% of those over 45 years have a health cover. And the rest are just out there vulnerable to emergencies. The reason being: high premiums and meagre coverage.Tune in.Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Ever since the pandemic, the world of skincare has witnessed nothing short of a revolution. Almost overnight, that jar of Ponds cold cream that had stood the test of time on dressing tables across the country was replaced by elaborate six-step skincare routines. The legacy brands we grew up with – the likes of Loreal, Ponds, Johnson and Johnson – were dethroned almost overnight. In their place came an explosion of new brands.  Today, everyone wants some skin in the game. Traditional FMCG companies like Tata, Marico, Dabur and Godrej all want in. So much so, that it's hard to keep a tab on the list of D2C skincare brands available in the market now.  But what does it take to launch a skincare brand? Turns out, not a lot. All you need is a contract manufacturer, 30 days, and a penchant for marketing. Tune in. We are hosting our first live recording! If you are in your 20s, like to run or just enjoy meeting new people, sign up for The Ken X 56 Run Club. This is for our Bengaluru-based listeners only. We meet at 7:30 am near Tonique on Kasturba Gandhi road.

Lately, new breed of millionaire heirs  have been dabbling with family offices in India . These are entities that exist solely to manage the fortunes of these ultra-rich families. While these offices have been around in some of the world’s biggest financial capitals for a long time now, in India, they are catching on now . What’s really interesting is that these single and multi family offices haven’t just been popping up in big metro cities, they are also gaining popularity in tier 2 cities like Surat, Ludhiana, Lucknow, Coimbatore and the like. This largely has to do with the growing number of rich people in a lot of smaller cities and towns. A byproduct of this seems to be the rise in family offices. In the last six years alone, the number of family offices in India has shot up from 45 to 300. Some of these function like a seed-stage venture capital firm and invest money to the tune of hundreds of millions of dollars.Tune in.**Correction: In this episode the host mistakenly referred to Nishant Batra as someone who leads investments at Catamaran, whereas he works for Dholakia Ventures. We apologise for the error.Daybreak Unwind recommendations for 'favourite translated novels.'Rahel: The Vegetarian by Han King            Hangwoman by KR MeeraSnigdha: The Legends of Khasak by OV Vijayan                 There's a Carnival Today by Indra Bahadur RaiListeners: Ghachar Ghochar by Vivek Shanbag Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Here’s a riddle inspired by true events. We all know that pay TV subscribers have been declining for a while now. But at the same time, overall TV viewership has only been increasing. How can that be? Well, for that we have Youtube to thank. In the first half of 2024, Indians spent 8 trillion minutes watching videos. More than 90% of this was on Youtube. Now, generally when someone says the words ‘watch on youtube’ you imagine a mobile phone or a laptop right? That seems to be changing as a lot more people are watching Youtube videos on their TV sets. In Uttar Pradesh alone, Youtube reaches about 90 million households through connected television sets.And here’s the surprising part. This is roughly equal to or more than the reach of television programming. Youtube is now entering TV territory, by luring viewers into watching new format shows. Like comedian Samay Raina’s “pointless reality show” India’s got latent. Eight episodes have been aired since June, and so far, they’ve gotten up to 4X more views than the channel’s nearly 4 million subscriber base.Many similar Youtube channels are offering their subscribers TV like programming to keep them hooked. Plus, what makes them really stand out is that most often than not, these shows are better produced, that too on cheaper budgets.Looks like its time for TV channels to buckle up and fight for the throne...or couch!Tune in. We are hosting our first live recording! If you are in your 20s, like to run or just enjoy meeting new people, sign up for The Ken X 56 Run Club. This is for our Bengaluru-based listeners only. We meet at 7:30 am near Tonique on Kasturba Gandhi road.

Last month, India’s second largest automaker – Hyundai –  went public. But this was not your run of the mill IPO. This was widely speculated to be the largest public listing ever seen in the Indian stock market. So there was naturally a lot of hype around it. But on October 17, just hours before Hyundai’s public issue was set to close, most stock market circles across the country were stumped. There was a growing sense of disbelief. Panic even. Because only half of the nearly Rs 28,000 crore offer had been subscribed until then. This was a far cry from the 90 per cent threshold that had to be crossed. The IPO eventually had a pretty listless listing on October 22. Despite all that hype. Now naturally, that left a lot of people wondering what could have gone wrong? What prompted so many retail investors to keep away from the Hyundai IPO? Well, a lot of it had to do with what transpired in Rajkot in the run-up to issue. This isn’t just about Hyundai. This small city in Gujarat has a big role to play in India’s IPO market. Tune in. We are hosting our first live recording! If you are in your 20s, like to run or just enjoy meeting new people, sign up for The Ken X 56 Run Club. This is for our Bengaluru-based listeners only.

A new generation of designers is on the rise. These designers are expected to be  a lot more than just “one trick ponies”. The new-age ‘Designer X’ is expected to bring  a little bit of everything to the table. They understand the basics of sustainability, how their designs would impact things like climate change and culture. And they would also generally know a little bit of coding too. And that is because the whole perception of design has shifted. Just last month, IIT Delhi announced a new certificate course in design thinking. It quoted multiple reports explaining why aspirants should take it. One of them was a 2023 Deloitte report that said companies that integrated design thinking in their innovation process brought new products to market 50 per cent faster than others and saw 2.5 X more revenue growth.The latest batch of design generalists are the products of a new era of design education that has been sweeping through India’s universities. As of now, about a dozen have started their own design schools. Some of these universities are leaning into the industry’s demand for a well-rounded designer.But now that more universities have entered the picture and generalist designers are becoming a dime a dozen, landing good jobs is going to get tougher as the job market matures. Tune in.Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

*This episode was originally published on July 12, 2024 Have you ever heard of a 'f*** off fund'? Or better yet, do you have one?For the uninitiated, it is a sum of money that women should ideally set aside to get out of a difficult situation – think toxic job, abusive relationship or family situation, you get the drift. The term was coined by freelance writer, Paulette Perhach, in 2016. We recommend that you read her powerful essay on financial independence. The idea is for it to give you enough power, confidence and control to literally be able to say “f*** off” and walk away. You are probably thinking, ‘great in theory, but how do I actually build one for myself?’. We have got you covered. In this special episode of Daybreak, Chaitra Chidanand, the co-founder of Salt, a financial services platform for women, demystifies f*** off funds and how you can get one. Tune inSuggested readingA F*** Off Fund: the most important female prep, Reddit"The FOF has saved me and my kids a few times.  Health crisis. Unemployment. Violence.  S**t happens.  But just as important—having a FOF means you can act from a position of power, not fear, not subservience." Warren Buffett Invests Like A Girl? Forbes"Buffett has always said that it’s temperament--not intellect--that makes you a great long-term investor. When you look at studies that have been coming out in the last 10 years about how men and women invest, what you see is that women tend to naturally have this temperament that creates long-term investing success."For Women With Money Issues, an A.D.H.D. Diagnosis Can Be Revelatory, NYT'But because activities like planning or budgeting don’t usually give people with A.D.H.D. a dopamine hit, they can find it harder than neurotypical people to get started or stick to accounting activities. This results in extra costs — paying cancellation fees for missed appointments or late fees for not opening a bill on time, or losing refunds because we missed the deadline for returning an unwanted purchase.'For feedback, write to us at podcasts@the-ken.comDaybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

In the 2024 financial year, Apple sold products worth $8 billion in India. This was a third more than the previous year.But how did a premium company like Apple that hates giving discounts sell products worth 8 billion dollars in a country as price sensitive as India? Apple obviously knew that its phones were unaffordable for most people in India?It found an answer was easy financing. After the Covid-19 outbreak in 2020, Apple made financing tie-ups with banks a mainstay. And one of the most important deals Apple made was with India’s largest private sector lender, and leading credit card issuer HDFC Bank. In fact, it was one of the costliest deals HDFC had. Thanks to it, HDFC customers have been enjoying exclusive cashbacks on Apple products ever since.Here’s the bad news. The deal between Apple and HDFC is now over.What happened?Tune in.

For a whole decade, Ola and Uber dominated the cab-hailing market. But cut to 2024 and that scenario is shifting. Both these companies are drifting. And a third contender – Rapido – is making the most of it. Both homegrown Ola and US-based Uber are dealing with a unique set of problems. The whole ride-hailing business seems to have taken a backseat for Ola, which is now knee deep in the electric vehicles business. Meanwhile, for Uber, the problem is stagnation. And those factors combined have taken a toll on their combined marketshare. The big two’s combined dominance has come down to around 60-70 per cent from over 90 per cent three years ago. But there’s a huge opportunity here for nine-year-old Rapido. Which the cab aggregation newbie is making the most of. Tune in. Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

Welcome to the world of luxury-lifestyle management, where firms like RedBeryl, Indulge Global, and Quintessentially play the role of concierge for their ultra-wealthy clients, making the impossible possible.Now this sort of thing has become even easier for the rich. Because their wealth managers are also taking care of some of these requests. It isn’t a one -off thing. Companies like RedBeryl, Indulge GLobal, Quintessential – all of which play the role of concierge for their ultra wealthy clients – are increasingly partnering with wealth managers to edge out competition and increase their clientele. In today’s episode, we dive into how wealth managers are finding new ways to delight the ultra-rich. Tune in

Zomato planning to raise 8,500 crore rupees again. This comes just three years after its grand IPO where it had raised almost the same amount. The company's stock prices have doubled in the last ten months. Interestingly, this fundraise is going to be through a qualified investment placement or QIP when a listed company raises capital from domestic markets without the need to submit any pre-issue filings to market regulators. Only qualified institutional investors are allowed to participate in this kind of a fundraise. All this just as rival Swiggy is prepping for its IPO. And the quick-commerce trio—Blinkit, Instamart, and Zepto are gearing up to expand beyond the metros and into smaller cities. Plus new, deep-pocketed companies like Reliance Retail and Flipkart are also joining into the race. In a letter to shareholders, founder and CEO Deepinder Goyal wrote that the fundraise is intended to ensure a “level playing field with competitors who continue to raise additional capital” and to “strengthen its balance sheet”. There was no mention of how the funds would be used.At first, this seems like Zomato declaring war in the quick-commerce space. Some analysts believe it could be a move to show the market that it has a balance sheet that is the “strongest of all.But is that all there is to it?Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

If all the women of the world had a collective wallet where we could put in a penny for every time we heard the words “your biological clock is ticking,” we could move to Venus and run our own planet.But as unfair as it may be, it is true. There is an ideal time period in a woman’s life when she can have a baby. Or when she is the most “fertile.”Unlike men who are biologically not limited by such constraints, women are born with a limited number of eggs. And turns out, this number of eggs sees a drastic decline after the age of 37. And when we say drastic, we mean drastic.But in the 1980s, scientists figured out how to freeze women's eggs. They developed a process called oocyte cryopreservation. It took thirty years for the procedure to become widely available. Today, a growing number of women are opting for the procedure. Most people assume that women freeze their eggs so they can buy time to achieve professional success. Women who freeze their eggs are often envisioned as 'career-driven', 'power hungry', and ambitious. But, egg freezing is an intense process. It is invasive, it is painful. It takes a toll on women not just physically but mentally as well. Plus, it is expensive.So why do women freeze their eggs?Hosts Snigdha and Rahel went to Dr Marcia Inhorn, a professor at the University of Yale and author of Motherhood on Ice to find out.Tune in.Daybreak is now on WhatsApp at +918971108379. Text us and tell us what you thought of the episode!Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.