Mohnish Pabrai in a Q&A session with JNV Kottayam Dakshana Scholars delved into how to start a business; Why is India poor? Etc.
Mohnish Pabrai’s Q&A Session: How To Start A Business
Q4 hedge fund letters, conference, scoops etc
Transcript
Well pleasure an honor to be with all of you again. Been a year exactly since we saw each other. Somehow. We only meet on December 24th. Merry Christmas, Happy New Year. Are you ready for the day test. All right. What happened in the. KPP Viking's we got no or very few people are right who cleared from this class. 3 and what about the other class. Is that the dumb class the stupid class the other one. And this is a smart class. I won't tell them that. OK. No. How come only three. What happened.
All right so why don't we do this we'll run a question and answer session. So first question.
Sir. Do you think that apart from providing basic science education, our education system lacks the necessicity of providing us education on business and economy.
Right. So do you want to start a business.
Yes sir.
So please have a seat. Since it is not in the CBC curriculum to teach you how to start a business. The CBC curriculum is designed to give you Chaki piso jobs. OK I am here to teach you. How to Start a business.
What do you say. Maybe in 10 or 15 minutes maybe you might take limbered more. We'll clear all your finals on how to start a business. Is that OK.
All right so. So the way to start a business is very simple. So first. Rule. Is. You don't need any money.
To start a business. So.
No one no money needed. Is that good. That's good right. No money man. The second is that. After you finish 18.
Or 19 you'll get a lot of job offers. Take the job you like. Ok or even take the job you don't like. Somebody will be paying you. OK. It's important to get paid so you take a job and let's say for example you are getting paid. Maybe 10 x Shamila once they get like 8 to 12.
By them you'll graduate which will be about 40 years five years from now. It will be a little bit more than that. Maybe you would one like a month. You don't need that much money to live. So you might be saving maybe even more than half of it. OK. Save the money. OK. The second thing is how many hours a day in a week. How many hours in a week. Raise your hand. 168. And. How many hours. Please have a seat. Tom the hours you don't need to stand up. OK just answer. These are not the normal rules of your normal teachers. OK. So and how many hours. When you take a job. Are you required to work every day eight hours. And how many days a week. Raise your hand.
No. So how many. How many days a week. When you take a job how many days a week are you required to work six days six days is up for the loser employers. Or the government of India. Sit down five days for private sector correct. It's from the private protocol 5 is like if they join Accenture. Five days. So if you join Infosys. Five days. So eight times five is how many hours 40 hours. How many hours are left. OK. So if you live. Very close to where you work. Right. Like 10 minutes away for example how much time will use be spending commuting back in from.
