Timestamps: 00:00 - Intro 00:27 - Lessons Kunal learned growing up 08:37 - On the fear of failure and shame 11:55 - Value vs. price 20:15 - Standardization of businesses 23:19 - What people pay for 32:51 - Who we do (and don’t trust) 34:38 - Focus in Asian markets 38:10 - Value of time in India 41:40 - Kunal’s startup journey 1:00:35 - What predicts startup success 1:06:42 - On insight 1:11:02 - Core human motivations 1:14:55 - Maslow’s Hierarchy of Needs in America vs. India 1:18:06 - On your group of friends and compounding 1:24:29 - Sharpening insight through public discourse 1:29:55 - On signaling 1:31:47 - Inner v. Outer scorecard 1:35:15 - On jealousy of different levels 1:43:46 - Most people aren’t in the truth business 1:53:45 - On getting surprised 1:55:28 - Wealthy people keep secrets 2:02:32 - On making decisions 2:18:35 - Opportunity cost 2:22:10 - on hiring high performers

What a podcast. I would like to donate my 18 lakhs cred coins to Kunal Shah for this podcast.

Kunal shah is the guy you want to be with when you’re high. Utter gold!

The host has my respect for his anticipation throughout the podcast without any interruption, what a hell of a listener you are! Brought the best out of his knowledge! Thanks.

That starting statement - mind blowing, and I quote Kunal Shah: “You will rarely meet successful people that are not insightful, insight is the smallest unit of truth that is action-able and therefore people who operate in the currency of insights tend to be generally more successful!”

If this podcast were a book, I would have bookmarked every page. You would find me highlighting every other line ! Thankful !

Man I did MBA (2 yrs) in one of the top universities of India, but this podcast is almost 50% of the knowledge, Man you both added a lot of knowledge! I am about to start a biz soon & will use everything learnt from this conversation! 🙌🏽 Thanks a lot 😊

I cannot believe he is using Maxwell's demon concept so perfectly to explain non-scientific real world scenarios. It is spot on! I hope I can meet Mr. Shah one day.

The knowledge of Kunal and listening skills of Shane were unreal here. 💥💥 Thank you guys for doing this. Learnt alot from both of you.🙏🙏

Kunal has reached on one of the top podcast of knowledge project in this less than month.

- In a wealth driven society, the fear of shame is generally much lower than that in the status driven societies. Shameless people make more conjectures without any fear of judgement - An understanding for "What are really people paying for" is essential. - "The people who have been mocked and shamed early in life gain an unusual superpower to not give a damn anymore" So basically shaming is an effective tool to make a person better. So when we raise children by the fear of shaming, essentially we cut off a huge opportunity to let them grow themselves. - Every time you aspire to create more substance, networth wealth etc all ypu are doing is to risk all you reputation at stake. -Scaling is impossible without standardizing and as Asian societies tend to be more personalized than standardized, hence scaling here is a tedious process 20:36 - 22:05 Important -"What creates an emotional arousal is rarely through efficient systems" To think about this which deciding the PMF... - "People pay when their core motivations are mostly met or there is a HOPE that their motivations can be met" and in my opinion this is not always related to value! People may pay more even for things that dont create value! But "Gross margins increase if we allow people to jump their social status" So does this mean that increasing a social status be considered as value creation?🤔 Why should it be ,It doesn't have any benefit afterall👀 - 90 to 95 percent of the trades in all coins do not happen in the top5 coins. This indicates that the world is getting more risky. Hmm👀 26:49 - 28:38 IMPORTANT - "Trust is very natural in countries that have very low diversity of ethnicity" By this logic how can we say that the Asian countries are have less trust in comparison to the western counterparts? They havent even faced ethnicity so this is why trust comes natural to them. So can we say trust as a biological thing?👀 To the argument that other ethnicities can also be trusted with some efforts, other biological things can also be changed with some efforts example fat etc etc. So trust seems another biological thing?👀 - "As societies are becoming more multi ethnic, the trust is declining and hence we see a rise of more authorotarian leaders as every society wants the leader to of their caste" Hmm but why isnt the case here in India as we see a decline of many political parties formed on ethnicities. Eg. SP, BSP etc - A very good point :- If societies become to similar, Innovation dies If societies become to dissimilar, trust dies. 37:30 - 38:10 wow! None of the SAAS companies in India generate revenues from the local market, all of it is foreign businesses. Because no one pays for making software!! Even digital payments took off only when govt made it free. No one pays for convinience! 47:27 - 49:07 xD 58:17 - 59:23 - Good founders always know the functional or the emotional benefit of their product or services 1:04:49 - 1:05:24 interesting, also what is does is that it forever destroys the reputation of that swiss knife(that high margin product) Wdyt isnt Ola and Tesla doing the same thing? Tesla is launching underdeveloped automatic vehicles in the market ( directly launching the swiss knife) and because of the accidents or whatever they bring down the trust on automatic vehicles.. (the value of swiss knife goes boom!) 1:06:24 - 1:06:44 1:06:58 - 1:08:02 wow 1:08:44 - 1:10:11 oof 1:13:00 - 1:14:56 True af!!! - Insights are just the random dots getting connected. So in this process collecting dots is the starting key and this process compounds if your friends are also collecting dots - things connect either you go really deep or really wide. Going to origin stories of many things all the First principles start connecting - "The fastest way to make somebody feel ok about the thing they are ashamed of is to make them proud about it." 1:28:20 - 1:28:49 💀 Having favourites limits you - " Show me a man who is afraid to look like an idiot and I'll show you a man i can beat everytime" - People who lack happiness have an acute need of showing other people that they are happy and they think that it will make them happy. People happy irl dont bother to post much. This is why social media seems virtually useless because everything over there isnt true -"Humans feel envious to people in their hyperlocal network" Why is this not even close to true? I always keep envying indian centibillionaires for such little work they do for the ample of money they have.. is it just me?🙄 1:35:52-1:36:31 But isnt this what differentiates between ambitious and unambitious people. Even I just passed school having close to 0 in pocket sometimes compare myself to elon or what so ever. This point seems doubtful dk why 1:37:29 - 1:37:34 well copying journeys is not good either Every person copies. Imitation is the first thing a person does to reach a average level in any field 1:38:36 - 1:39:37 True! - When you are in high IQ zones you feel cheated when you get simple answers. But mostly truth is simple - Most people arent in the truth business, they are in the story business. 1:51:00 - 1:51:56 cool - "All jokes are surprises" ya thats what gives us the dopamine we crave for xD - The expertise of decision making is more likely found in the people who have more choices Emotions are a great tool to find what needs to be fixed but the worst tool to decide how to fix it. "Reputation is like a bank acccount in which you can deposit a dollar a day but when it is withdrawed it directly gets empty! " 2:10:16 - 2:10:40 2:11:00 - 2:13:05 >>>> -People good at decision making can see the problems from the lens of multiple different people - Historically people were hired on the basis of years of experience. In future they would be hired for experiences per year.

This is the first time I saw such a long podcast. That man is full of wisdom. We want part 2 soon.

We definitely need a part-2 of this podcast. Being an 18 year old, and getting access to such content is an absolute blessing. Being able to see the world through Kunal Sir's lenses is my biggest takeaway from this ! Lots of Love from India.

By far one of the most awaited podcasts ever. Two of my favorite people in the same podcast wow!

The "Inner vs Outer Scorecard" insight was the best gold nugget for me here, never thought about it that way. Kunal Shah truly is insightful, great podcast guys.

Just loved how the host was so patient made the podcast framed by Kunal Shah itself ✌️

I love this Man . So depth in every word he speaks . Truly an Entrepreneur.

Although his "tech" companies are mostly just marketing plays, man has a lot of legit wisdom to share. I respect him for that.

The thing that i absolutely love about Kunal is he will always boil down things to the absolute minute basics. I'm a fan of the quote *Out of intense complexities, intense simpliticies emerge* I operate on the same principle and love and prefer simplicities and apply the same foundation rules to most of my stuff! Thanks for the insights 👏👌💯

One of the most knowledgeable and intelligent entrepreneur I have seen ever

What a podcast!!! Hats off to the host for calmly listening to the insights given by KS and diving deeper to explore more of it! Well utilised 2.30 hours of my life!! Thank you for this wonderful video.

It will be an injustice if this podcast will not be listened to by at least 10 million people, hopefully, it will be listened to by more and more Indians. Extremely profound conversation ever! Need to listen to it once more to digest some of the topics 😅💫

Absolutely class, it was an all business lecture 🔥🔥🔥 Fun part:- Kunal shah speaks Host :- GO DEEPER ON THAT .

18:00 This is gold, how is it free.. ❤❤

This interview is like an MBA course with so much insightful discussions about economics, human behavior and marketing like no other program.

Truely a mind blowing podcast to hear. The respect i have on kunal shah has been increasing everytime i watch/hear a interview of him .It's like information overload everytime💯💯❤️

Having an hour long conversation with Kunal Shah is now one of my life goals🔥

A movie-like lengthy podcast full of wisdom, experience and advices. Splendid! 👏

I have been watching this in pieces and repeating some parts of it again and again to really imbibe the ideas. The piece on Value for time is such a remarkable revelation. I personally connect with it so much, its a real pain when I see people waste away hours and hours of their days on minutiae in comparison to what they could actually make for that much on an hourly basis (or what they might be already making on an hourly basis) if only they saw their income in those terms. This “missing the forest for the trees” approach, or being-too-hung-up-on-so-much-unnecessary-details approach is such a largely spread folly in Indian society that just by avoiding this one folly (inanity as Charlie Munger puts it), Indians can be in a much higher strata of life. Remarkable, the insights are mind blowing. Thank you Shane and the entire team responsible for getting this out and thank you Kunal for giving us your time and energy and so many insights you have earned over your life time distilled in these 2.5 hours.

Wonderful episode, overall very wholesome. He made great connections & comparisons that made me think. Part 2&3 pls

just came to this channel for the first time, since i am bit influenced by kunal's thoughts and work. But man the host, damn what a great listener you are man, just hats off, on how much high value you are to listen so patiently without loosing your mind thread conversations, inspired.

Thank you Mr.kunal what you have given in 2&half hrs, i doubt world class MBA could do same. It was like i m traveling your life journey sitting on back seat of your scooter 🛵 seeing things you did in your life. Learned allot. Excited to learn more from you.

One of the best Podcasts, I have listened to so far! Kunal Shah is a man of wisdom and insights. This Podcast made me write notes as there were so many take-aways from it, Thank you Shane for giving the best content throughout, keep it up!

Brilliant insights. Please get more people from diverse countries. The richness and differences of opinion is really a gift! Thank you for this !

One of the finest podcast that I have listened to . completed in one go .

Oh man, not even half way through, and mindblown by brand new Indian insights. Thanks.

I have seen every interview of this guy on KZfaq. Got excited to see a new interview after a long time

This should be behind a paywall. This is pure gold!!

Kunal is a true gem ❤️ Thanks for sharing such a Valuable Insights

This is BRILLIANT . One of the finest podcast. Kunal ❤️👊

Kunal Shah.. The Monk Among Entrepreneurs 😌👌🏻

My brain has just blasted with a fresh wave of ideas. I am so grateful to have heard this podcast. A must hear for everyone who wishes to be successful and do something different and useful in their lives. I wish everyone all the best. PS looking fwd to many more podcast sessions with Kunal Shah.

We want part 2 of this amazing podcast This is very insightful and inspiring

19:00 Hinduism is the Stock Android (OS) of religions 47:01 "We have extraordinary builders who don't know what to build for" 🔥

This is the longest podcast I have listened to in my life without any break. Tells a lot about the quality and knowledge of the persons involved. Definitely an amazing experience!

I never feel boredom while listening Kunal Shah....

Lovvvvved this....Shane plz bring him back more often

Kunal is beauty ,full of innovations and novelty...blessings !

This man, Kunal Shah is GOLD...

Such an insightful talk ! Learned so much from this guy.

Shane This is By Far The BEST EPISODE of Yours as a Host 🥂 Exceptional Questions & Kunal is At His Best 💎 Keep Creating Such Insightful Content 😊

OK to be mocked, less shame !!! these are true insights !

This is my kind of a podcast. Loving it.

I listen twice on this podcast , very useful. Thank you Mr. Kunal

Really very insightful , I m from India , Understood his point and also interviewer is really keen to learn and gave space to flow .

Kunal *speaks* Shane - "GO DEEPER ON THAT" xD Jokes aside - What a conversation! So insightful! So much to take in. Thank you very much! Shane and Kunal.

This was one of the most brilliant podcasts i have come across after naval ravikant on Joe Rogan, worth coming back to again and again.

thankyou so much for this. This is the most insightful conversation I have heard in a really long time. The last one I remember is Naval on JRE. this is precious

Kunal shah!! The best in the game, love the way he talks and the way his mind thinks

Please do a part 2 and 3 asap! We can't wait for long.

Best podcast of kunal shah till date✌🏻✌🏻✌🏻✌🏻✌🏻

Did I just watch two and half hour long video without missing a second of it ?? Wow. First time ever. The conversation was very engaging and interesting.

kunal is a guy who first ask su nava juni and then create an unicorn out of the conversation. what a podcast! 🔥

wonderful podcast ! especially because of its very Indian context-makes way more sense. I feel its because of the trust issue that there is abnormal wealth distribution. Naturally you want to buy everything from one trustworthy company. so I feel there should be a cap on how many things one company can make. So other small company can have more room and can generate trust as well. Kunal another thing I have noticed is we never say no-if something cannot be done we don't say no. we don't say anything. Another element is we don't value old clients-we take them for granted. As a doctor I can only say that shaming in childhood has harmed more people and made them into complexed people. If one can actually use it later to gain more -thats just great! A lot of what you have said made good sense much can go the other way too!

This video is absolutely gold.

Thank you so much KZfaq to give this diamond knowledge 🙏🙏🙏🙏

Kunal is a gem. This guy is super smart Can observe things at a very fundamental level.

This podcast is pure wisdom.

insane number of golden nuggets per minute in this conversation. high five.

This guys is so full of wisdom and facts. Love it

What a amazing podcast.... Wow.... Wow... Wow... It is too good... Thank you for sharing your knowledge I think this interview I can see more than one time...👌👌👏👏👏👏👏🙏🙏🙏

One of the best I’ve heard. Wow!

Kunal bhaisaab ko idea bhi nahi hai ki inka ye podcast kisi bande ke wo saare doubts clear kr rha hai jo duniya ki kisi kitaab ya University professors nahi clear kr sakte ...... Great video....

Amazing amazing podcast! Kunal Shah you gave such amazing insights that it really changed my spectacle of analysing so many things! Totally in Awe of it 🙏

Please do the part 2 n part 3 it was too much lerning... What a amazing conversation... 🤗🤗 Thank you ... Lernd so many things from krunal... 🙌🙌

Brilliant as always Kunal! Every kid must watch

I think this is one of the most valuable podcast episode to understand what works in India which is broken down explained so well! Thank you guys for this ❤️

He just collected the dots and then connected the dots very well !

Quite excellent - it's orderly out of order thoughts. Feels right, but never realized.

i love to listen this guy always he is so much insightfull

Such a treat to listen to him!

•Kunal gives lot of time for podcast. •He (team) makes ads preety interesting. •He thinks about how to get customer. -Makes me think he should have one advertisement company and a life coaching institute. And maybe a startup coaching institute 🙂

Love to listen Kunal Shah since i was in class 10.

Such an insightful episode!👍

Man this is a gem.... I don't know whenever I hear Kunal...I feel like billionaire. I mean really, genuinely I want to hack his brain... Itss 1 hour or something podcast and it's rare that I have watched it to the end and feeling something great is going to end when full episode is ending..literally in end I was saying keep going ...Kunal keep going... Man I need part 2 not next year but another weak.... I mean I am feeling I have watched a Christopher Nolan movie

Can't wait to listen to this one! Thanks for having Kunal on the pod, Shane. 🙌🏼

This podcast is way better than a whole movie

Blown away by this episode.

Kunal Shah, interesting guest. I learned so much. Thanks

Totally loved Kunal Shah here.

Unbelievable! This guy is so insightful!

This guy needs his own podcast

Thank you for the insights. The ones who really want to gain out of them should watch this for 7.5 hours.

The host is amazing. He is doing the good job to let Kunal speak. His go deeper comment is the one thing that other host should learn from hin

This podcast is gold!

That's nice to see Kunal Shah in this podcast

A lots of love from Bangladesh and thanks for sharing thought provoking ideas.

Such an insightful podcast. So dense with good stuff

kudos to the interviewer .this is how you take interviews...other should learn and take notes

The great man. Whenever I find his video / podcast I listen carefully.