CEO @ReferRush | @thewtfund winner | @ucla math & philosophy | a deep thinker with shallow desires
Growth
Joined May 2012
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ReferRush is crushing it offline for Duroflex, and we’re just getting started.
Any brand in India not on @ReferRush is missing out.
Our job is simple: find any and every way to drive you sales through the best distribution channel in the world — humans.
We’re young, we’re brash, and I know that rubs some middle managers and merchants the wrong way. It’s hard to take advice from “kids,” especially when ego comes with the job title.
But results don’t care about seniority.
We’re an extremely talented, hungry team with one obsession: giving Indian brands the infrastructure to drive more and more of their sales through people.
And we’re only getting started.
India’s VCs are fundamentally consensus capital allocators. LP incentives and game theory make them so.
Your risky seed investment is unlikely to get a risky Series A investor.
So even seed investors are incentivized to ask: “Will the next round find consensus?”
It all makes sense - leave the VCs alone.
Why are Indian VCs so afraid to take risk and make money?
Someone should go to India and take risk and make money.
Our story - corememory.com/p/a-new-india…
Yes. @referrush posts a launch video everyday
Good for him! India is crabs in a bucket man. Why can’t we just be happy someone else is doing well. When you think like this I promise you your turn is coming as well
More than 30 buffaloes, worth around ₹25 lakh in total, are tied up in front of this wealthy farmer’s large, luxurious house. Tractors, cars and bikes are parked outside, and the family owns vast amounts of agricultural land. Some wealthy farmers like these earn crores of rupees every month through farming and dairy businesses.
Many of these farmers proudly show off their wealth, expensive vehicles and luxurious lifestyles on social media. Yet, agricultural income is generally exempt from income tax in India.
Meanwhile, salaried employees earning relatively little every month and small business owners have to pay income tax on their earnings.
Income tax should also be imposed on wealthy farmers like these who earn crores every month through farming and dairy businesses.
Poker has a concept every founder should understand: implied odds.
Sometimes you make a play that looks negative expected value based on what’s in the pot right now.
But if it hits, the future payoff is so disproportionately large that taking the risk can make sense (if you have the appetite to gamble)
In startups, we call these “experiments.” But really, you’re constantly making bets on implied odds.
At @ReferRush, ours is the mobile app where affiliates discover and sell for brands.
Building it costs us today: engineering time that could make our core product faster and more feature-rich.
But if we’re right, the upside is likely India’s largest software company.
Lmao something about this guy’s takes are almost always retarded.
88% of VC-backed founders who EXITED got $0 is an INSANE statistic.
The whole point is probabilistic payout or expected value (EV). Since Jason plays poker, he should understand this.
If:
~ 5% of VC-backed companies eventually exit (from @ycombinator)
12% of founders who exit actually make money
Then, if you take on capital:
5% × 12% = 0.6% probability of a meaningful founder payout.
Even if we generously assume that 0.6% outcome pays the founder $5M–$10M:
EV = 0.006 × ($5M–$10M)
= $30,000–$60,000 expected value.
Midpoint: $45,000.
Potentially 10 years of your life for that probability distribution IF you take capital
Pathetic numbers. This is why I’m bootstrapped.
Most investment dollars go to zero
Most founder equity goes to zero
America produces the most important companies because of this awesome risk-taking — this is why we win!
This is obvious and well known by all parties involved, and it’s called the power law
And 99% of the time, VC-backed founders never put any personal capital at risk — just their time and typically a more modest salary (but in a hot market founders sometimes go for higher pay, and boards will approve)
No story here, just nonsense
This is a huge workflow we’ve built at ReferRush to streamline working with creators!
Try it out or book a demo today :)
Conviction is when you know in your bones
Tony Xu of @DoorDash on getting rejected by investors, competing against rivals with thousands of times more capital, and how founders can tell conviction from delusion:
"I had over 100 rejections in a span of over 1,000 days where the company almost constantly ran out of money... I couldn't raise a dime, and we were running out of capital."
"Companies like Amazon or Uber were in the space who had way more capital than we had. Hundreds of times, maybe thousands of times of capital deployed versus the amount that we raised. So then the question becomes, well, how are you gonna win this cash-burning machine?"
"This is where you as the founder have to finely tune that line between delusion and knowing that you have something that others don't understand. What are the customers telling you?"
"We the founders did deliveries for almost virtually every day the first three years of the company's life... And so we had strong points of view on each side of our marketplace that could explain what was happening in the numbers."
"When you have one set of facts, which is your customers, you have another set of facts, what are called opinions and perceptions, you gotta trust the facts. That's ultimately what kept us going."
@t_xu w/ @speedrun GP @andrewchen
It’s actually a terrible compliment for a co-founder
You want your co-founder to follow your company’s practices and protocols. No one on the team should get special treatment
Content Ankit about Referrush + content around Referrush = customers
Vikram Pai retweeted
Caring is the moat, you should feel visceral pain when things are bad or broken and stop at nothing to fix them
