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This is a summary of a YouTube video "Nithin Kamath in conversation with Kunal Shah | CRED curious" by CRED!
4.5 (32 votes)

Rain Matter has achieved success through investing in fintechs, leveraging social media, and innovating product and business, while also maintaining trust with customers and partners and allocating funds to create self-sustainable clusters of villages in India.

  • 📈
    00:00
    People took advantage of the pandemic to invest in the markets, leading to a peak in December/January 2020, but the industry is now facing a challenge of new user acquisition.
  • 🤩
    08:17
    We have 11 million customers with two lakh crores in Securities, managed by a 35-member tech team and three Ops guys, with automated processes and online onboarding resulting in improved support ratings and increased business.
  • 💰
    15:33
    Focusing on one core offering, investing in fintechs, leveraging social media, and innovating product and business have been key to Rain Matter's success since its founding in 2016.
  • 🤝
    23:53
    Maintaining trust with customers and partners is essential for a successful brand, and pursuing passions like sports and fitness can help build a positive view of the markets.
  • 💰
    33:49
    Brain Matter Foundation is allocating funds to create self-sustainable clusters of villages in India and tackle climate change.
  • 💡
    44:21
    Building a successful business requires long-term decisions, avoiding short-term goals and quick launches/kills, and teaching basic financial concepts in schools to simplify investing and expand markets.
  • 🤑
    56:28
    India has a large working population and good relationships with other countries, making it a great place to stay and invest in for the next 5-10 years.
  • 🤔
    1:03:33
    In India, there is a need to increase female participation in the workforce, while balancing the use of technology for children.
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Detailed summary

  • 📈
    00:00
    People took advantage of the pandemic to invest in the markets, leading to a peak in December/January 2020, but the industry is now facing a challenge of new user acquisition.
    • The pandemic and personal events have changed my priorities and how I think about life.
    • Realizing the importance of health, I changed my priorities and started consuming content from health experts to lead a healthier life.
    • People went a little crazy during COVID, resulting in a high amount of DMAT growth and other asset increases.
    • People stopped spending, had more money on hand, and interest rates crashed, leading to an increase in people investing in the market.
    • The combination of greed, luck, and being ready at the right time led to the peak of markets in December/January 2020, with India outperforming most markets.
    • The US stock market has outperformed, but new user acquisition has dropped and it is unlikely that a large audience of people who haven't invested in the last two years will suddenly decide to invest, making the next few years harder for the industry.
  • 🤩
    08:17
    We have 11 million customers with two lakh crores in Securities, managed by a 35-member tech team and three Ops guys, with automated processes and online onboarding resulting in improved support ratings and increased business.
    • We have 11 million customers holding over two lakh crores in Securities with us, despite only having 1100 team members.
    • People trust us with security and money, and our 35-member tech team has been able to build that trust over the last 10-12 years.
    • In 2016, the business stopped its 500-member inbound sales team and saw no difference in sales, conversions, or leads.
    • Onboarding went online in 2016, resulting in improved support ratings and increased business.
    • We automated processes to reduce the need for manual labor and now question every hire to ensure it is necessary.
    • Managing a team of 1000 people is easier than managing a team of 10,000, and the business is run by one tech guy and three Ops guys with a 35,000 crore am.
  • 💰
    15:33
    Focusing on one core offering, investing in fintechs, leveraging social media, and innovating product and business have been key to Rain Matter's success since its founding in 2016.
    • Rain Matter was founded in 2016 to collaborate with startups like Ditto, the second largest online insurance distribution platform in the country, instead of attempting to build everything themselves.
    • Focusing on one core offering and investing in fintechs has helped significantly, and money is the root cause of profit.
    • Money has taken away the focus on efficiency and making the most of what's available, but the cycle will come back soon.
    • Figuring out the trigger points to get customers, I cold called the first thousand customers and worked in the call center to be efficient and successful.
    • We use online platforms to leverage the power of social media and word of mouth, and run an affiliate program to share a percentage of the brokerage with customers who refer their friends and family.
    • Innovating product and business to build modes that are hard to copy is key to staying ahead of competition.
  • 🤝
    23:53
    Maintaining trust with customers and partners is essential for a successful brand, and pursuing passions like sports and fitness can help build a positive view of the markets.
    • Charging an account opening fee filters out serious customers and reduces compliance risk.
    • Zeroza has managed to create trust with its partners and affiliates by actively interacting with them and allowing them to interact with each other.
    • Maintaining trust with customers and partners is essential for a successful brand, and it is important to remain consistent in order to build trust.
    • I'm not looking at customers as a short-term business, but rather how to keep them active in the markets forever, which is why I talk openly about how few customers are making money and their trading behavior, even though it impacts my revenue and profits.
    • People come to the market with wrong expectations, leading to disappointment and a negative view of the markets.
    • Once I realized money can buy anything easily, I realized what money can't buy and pursued passions like sports and fitness.
  • 💰
    33:49
    Brain Matter Foundation is allocating funds to create self-sustainable clusters of villages in India and tackle climate change.
    • Once you have 10-15 million dollars in India, there is nothing much to do incrementally with more money.
    • With increasing wealth concentration, it is important to use money for the betterment of society, which is why Brain Matter Foundation was created.
    • We are allocating funds to partner with non-profits and for-profits to create self-sustainable clusters of villages in India and tackle climate change.
    • Building core competencies and instincts over time is the best way to be more right than wrong.
    • Continuously doing what is right for the customer is the easiest way to build trust.
    • When onboarding onto derivatives, actively say "dude" to understand the talk types.
  • 💡
    44:21
    Building a successful business requires long-term decisions, avoiding short-term goals and quick launches/kills, and teaching basic financial concepts in schools to simplify investing and expand markets.
    • Making decisions for the long-term is key to building a successful business, rather than focusing on short-term goals.
    • Raising money can give you the fuel to accelerate growth, but building an enduring business will take time regardless.
    • We have experimented with launching and killing products and initiatives quickly, and have avoided putting someone's head on the table when something goes wrong.
    • Open Trade was unsuccessful due to performance pressure caused by participants using star names on social media, so it was killed off.
    • PMS in India is limited to the top 1% due to the 50 lakh rupees threshold, but passive only mutual funds could provide an opportunity to reduce costs and increase performance.
    • To simplify the investing experience and expand markets, basic financial concepts need to be taught in schools.
  • 🤑
    56:28
    India has a large working population and good relationships with other countries, making it a great place to stay and invest in for the next 5-10 years.
    • People often don't understand the importance of managing money and will spend without researching, believing in silver bullets that will make them rich.
    • Distributors have been selling financial products without educating customers on why they need them.
    • U.S. has done a better job in terms of financial literacy by having an advisory system that explains why a product is right for the customer and compares it to other policies.
    • In India, there is a social mindset of knowing who to contact for different needs, but there are only a thousand licensed advisors due to incentives.
    • India is set to benefit from its population demographics over the next 10-20 years, making it a great place to stay and invest in.
    • India has a large working population and good relationships with other countries, so there may be opportunities for growth in the next 5-10 years.
  • 🤔
    1:03:33
    In India, there is a need to increase female participation in the workforce, while balancing the use of technology for children.
    • In China, 96% of urban women were actively working in the workforce, while in India it is less than 7%, and there is a need for more Indian women to contribute to the formal economy.
    • He rarely leaves his office or home, but recalls an event where he was running late for breakfast and listening to an audiobook.
    • I wake up at 4:45am, work out, read the news, work until 7pm, then spend time with my son and listen to podcasts or books while shooting hoops or swimming.
    • My most interesting project is helping my son develop his curiosity without getting consumed by technology.
    • Giving kids access to technology can be beneficial, but there are limits to how much time they should spend on it.
    • Raising money for a business is difficult, but it can be done with careful planning and a focus on long-term success.
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This is a summary of a YouTube video "Nithin Kamath in conversation with Kunal Shah | CRED curious" by CRED!
4.5 (32 votes)