Archive for the 'students' Category

10
Apr
08

My reservations on the reservations.

The supreme court has finally ruled on the issue of the OBC quota for Central education institutes. The issue of having 49.5% reservation is iconic and national institutes like IITs and IIMs truly has a lot of us angered and divided. Personally I’m in favor of the reservations, but I think the reservation makes sense in the short-term but isn’t solving any issues for the long-term.

SCs/STs and OBCs are an under-represented lot in most higher education institutes. They form a major chunk of the lower economic classes and today it’s just impossible to get into a good higher education institute without spending a lot of money on getting coached for the exams. Of course if the reservations were in terms of economic classifications, it would make a lot more sense. But the government has its own selfish reasons of favoring castes which form the major portion of the Indian population. At least the ‘creamy layer’ of OBCs is not going to be favored in these reservations.

I believe these reservations will affect the medical stream students the most negatively. They already have such few seats and now there are even lesser. I hope the government does something about increasing the seats. In the engineering and management streams, I’m a little amused to see that most people are incensed about the reservation policies being applicable to IITs and IIMs. Out of some 5 lakh aspiring engineers, 4000 will make it to IITs. Why is everybody so concerned about the fate 4000 of brightest minds? The bright guys will almost certainly do well anywhere. Now with the reservation, a few hundred out of the lakhs of OBC/SC/ST(and impoverished) students will be benefited from an IIT education. And the IITs must increase their intake of students. Already most of them are spread over such huge sprawling campuses, which is frankly a big waste of space for purely technical colleges. I mean 500 acres for just 5000 students is a little too much. Compare that to American elite universities which have tens of thousands of students on similar or smaller land sizes.

These reservations will benefit more people than not, but its a classic case of ‘Too little, too late.’ Higher education is going the private way quickly. What with so few govt seats available, it had to happen. The reservations can’t affect the private institutes, which are barely meritocratic and bastions of the well-off kids. So the problem of poor kids not getting quality education comes back again. And if the benefits are to be increased, more govt institutes must upgrade the quality of education they provide.

On a personal level though I’m a little pained. I studied in a IIT-JEE coaching institute and I know the hard work it takes to sacrifice two(or even more) years of a teenage life on the JEE altar and then be crushed because you didn’t make it and somebody else who scored much lesser makes it. And with my sister giving the JEE in three days, this is undue and unfair pressure on her.

Times like these, when I’m feel proud and lucky to be a BITSian. Merit rules here and always will. And probably thats why there are very very few SCs/STs here(my personal observation). I though sometimes wish there was a quota for girls. Frankly its unhealthy.

PS: I’m disabling comments for this post. From what I’ve seen on other blogs such posts always turn into places for useless rhetoric on either IIT/IIM bashing or IIT/IIM glorifying. Certainly NOT going to happen on my blog. If you absolutely have to vent, go to YouthCurry, you’ll find something for your taste ;).

25
Oct
07

VCs need new models of investments

Venturewoods has a great article on miniaturization of VC investment. It talks about how its time that VCs adopt a different model, now that the startup landscape is changing rapidly. The biggest change being the number of startups coming up. With low entry barriers, to do a web  startup all you need is an idea, 2-3 more guys ready to go without salaries for six months. Thats not a lot. Once choosing to do a startup was a life changing decision, today its quickly becoming a career alternative. Low entry barriers also mean, a lot of startups will come from students, just graduates, etc.

VCs in India have a lot of adaptation to do. It is an open secret that startups which get funded have been referred to a VC partner either from a previous founder they had invested in or friends from close circles. This rules out most students, first time entrepreneurs and people with little experience dealing with startups. A few years back this was the state in the US too, but with the VC community being very active in interacting with the programmers/hackers and students community, its still simpler to at least approach a VC firm. Another important change is in the amount of investment. VCs barely look at startups requiring less than $1mn, even in India. Thats a lot of money here and with startup barriers going down, the figure of $1mn needs to be lowered to a figure of around $300k at least.

A major reason why VCs do not do deals of lower investment value is because the returns are ‘low’ on such deals. The absolute value of an investment being a success needs to be lowered as well. Today an exit to be termed a success needs to bring home at least $20mn. Ycombinator invests amount which are smaller than microfunds. They typically invest $20k and take 5% in equity. Thats a lot of equity, but its a comfortable amount for startup founders still in college. They fund startups no VC would touch, primarily because they need such low investments.

Venturewoods has another article on why VCs wouldn’t want to adapt to investing small and spreading themselves across more startups. The author blames it on their lifestyles, which depend less on their investing success and more on the number of partners in a VC firm. That’s the most interesting theory I’ve read about VCs!

A few weeks back I had read Paul Graham on Web startups becoming commodities and how there will be lots more of them to fund. I now understand it from a VCs perspective. It means lots more work for them in making of deals, while the total amount of investment they might do still remains the same.

20
Oct
07

Speaking at the FORTUNE Global Forum, representing 18-21yr olds of India

I’ve been invited as a panelist for a discussion on youth at the FORTUNE Global Forum. Here’s a intro to the conference.

FORTUNE Global Forum brings top CEOs together with heads of state and leading thinkers to exchange views on the most pressing issues global businesses face. The FORTUNE Global Forum at New Delhi will go beyond the meeting room to provide a better understanding of the economic, political, social, and cultural dimensions of a country that is both intriguing and contradictory.

To ensure the highest level of discussion, participation is by invitation only and limited to the chairmen, CEOs, and presidents of major multinational corporations.Top-caliber guests, global representation, a strategically focused program led by FORTUNE editors, a variety of interactive formats, and the intimate scale are what make the FORTUNE Global Forum the premier summit for the world’s leading chief executives.

A few speakers confirmed for the forum are:
1. L N Mittal of Mittal Steel
2. Azim Premji of Wipro
3. Nandan Nilekani of Infosys
4. Kiran Mazumdar Shaw of Biocon
5. Shashi Tharoor Former Under Secretary General for Communications and Public Information, United Nations
6. Michael Dell of Dell Computers
7. John Chambers of Cisco
8. Montek Singh Ahluwalia Deputy-Chairman, Indian Planning Commission
9. Kishore Biyani, MD of Pantaloon retail
10. Malvinder Mohan Singh, CEO of Ranbaxy Laboratories

11. Vivek Paul, MD of Texas Pacific

I’ll be attending the Roundtable titled INDIA IN FOCUS: SNAPSHOTS OF AN EVOLVING CULTURE. I’m a part of the panel discussion which aims to understand the current young generation’s aspirations, dreams and attitudes. It will be moderated by Barkha Dutt. The description of the panel discussion is ” The conclusion presents a rare opportunity for national and global business executives to hear first-hand from the latest generation—18-21 year olds—representing the demographic majority in India. How ready are you to deal with this new generation as consumers? Joining your workforce? What are their aspirations and dreams and how are they different from children raised in the pre-liberalization era?”

There are very few conferences which talk about business and also give youngsters a chance to speak. Its awesome that Fortune is doing this. It is such a welcome change! It excites me to think I will be representing my generation on a platform as huge as this. I’m making a (long)list of things I want to talk about.

I would really like to know what you think I should talk about. Please add comments or mail me at nayak.abhishek@gmail.com or call me at 09983526558. Articles to read are welcome too.

To torture a cliche, Your voice matters!

ps: If you are in Pilani, try this link for the FORTUNE Conferences.




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