Monday, September 1, 2025

Price does not equal value


The most expensive schools are at best average in learning outcomes. 

The more expensive the hospital, the more damage they will do to your health. If it's a "corporate for profit" hospital, run for your life. They will empty your wallet, and ensure you suffer permanent damage also. 

The more expensive the handbag, or shoe, or whatever, the more bizarre it is likely to be. 

The more expensive the cosmetic, the less you need it. An oil bath twice a week with cold pressed oil ( one tablespoon per bath), is all you need for a flawless skin, and healthy skin to boot. 

And so on...

Doesn't apply to all circumstances though. Chocolates in India are normally around one thousand rupees a kg. They can't afford to use  real cocoa beans at that price. Buy artisanal chocolates only, expect them to cost six times as much. 

The modern marketing machinery convinces us that expensive is better. The messaging is in your face, and also insidious. 

Go back to the base principles. Trace everything to the source, question every so called benefit. 

And then hunt for real value. A life of abundance is a life worth living and it need not be expensive at all.



Thursday, July 10, 2025

The saga of gold


It all starts with India not having gold mines. 

3000 tons annual world  production, India close to zero.

But Indians buy 800 tons of gold annually. 

Which is a huge loss of foreign exchange. At current prices, hundred billion dollars annually. 

So the government has a problem. How to reduce the foreign exchange outflow? 

Remove the Indians' love for gold, says one economic advisor! Make them love other things! Ha ha! Easier said than done. Love of gold is congenital, embedded deep in our genes. 

Educate them, says another advisor. About how gold is an unproductive asset, about how it does not contribute to national development, about how holding gold is unpatriotic! Problem is, Indians are not prone to receiving education, like presumably the Chinese are. Indians don't listen to governments, they pretty much do what they want. 

Ban gold imports ! Ah, the ideal bureaucratic solution! But unfortunately, gold is very high value packed in a very low volume. Every Indian coming from abroad decks himself in gold. Gold still somehow manages to find its way in somehow, even if shoved up people's large intestines. 

Ok, how about levying a customs duty? It will reduce imports, reduce consumption, make Indians more patriotic! Bad idea. Like we know after watching so many Hindi movies, the smuggler sitting in his underground adda stirs into action. Every dingy, every ship, every plane has gold stowed away inside, and India still manages to get its due share. 

There is a further  problem when gold gets smuggled in in such large quantities. It's an entire black economy that is created because of the arbitrage. 12 percent duty being evaded effectively means 12 lakh rupees profit for every kg of gold at today's prices, evaded money, evasive money, that gives rise to a huge, black, money laundering economy. Why do you think there are so many jewellers from Kerala opening multi storeyed showrooms in every city? 

And how do the smugglers send money out of the country to pay for all that gold? Some of it may go out as cash, but a lot of it goes out as a reverse flow of goods. Other goods. Like drugs. What enters from the golden triangle or golden crescent exits from the docks of Mumbai or Cochin, cutting a huge swathe of destruction across the country in the process. 

So duties don't work, the finance minister has to roll them back. 

So what next? What to do? Every government, every finance minister, every central banker, hates gold. For it is the one thing that takes away their power, the crazy illusory power that fiat money bestows. If left to them, they would make owning gold illegal. They tried that, in several countries across the world, including India and the US, but it didn't work. 

So now what to do? New finance minister, new scheme. Sovereign Gold Bonds! Give the public a piece of paper linked to the price of gold! No forex outflow! The public doesn't bite so sweeten the deal with an additional 2.5 percent per annum! Very very ill advised. The government ended up giving IOU's based on a commodity it has no control over. Just ten years, and they realised their folly. The government faces a big fat redemption bill. No more IOUs, scheme closed. 

In the meanwhile, Indians continue to consume gold happily. All of 800 tons a year. And we can explore all we want, we will even strike oil, but no gold. Dev Bhoomi we may be, but Swarna Bhoomi we are not. 

Indians are smart that way. They know what is good for them. They continue to buy gold, lots of it. 

Mera Bharat Mahaan...





Food is life

The longer the shelf life, 
The shorter is yours; 
Food that is cooked outside, 
Is what poisons us! 

Longer the factory chain,
More the filth within; 
Healthy is bought and cooked, 
Into food at home! 

Even the salt that you eat,
Is chemical gloop; 
Not the way God made it,
No, it's not NaCl! 

Always eat food that spoils,
But eat before it does; 
Cooked at home and with love,
Beats outside anytime! 

Buy them whole, cook them fresh, 
And eat within hours; 
If what I eat is old,
What am I alive for?


Sunday, June 29, 2025

REFLECTIONS FROM A YOGA RETREAT

 

Just attended a five-day yoga retreat by Dr Yamuna at Deer Park, Bir.

A UK trained  medical doctor, of Chinese descent, nomad, citizen of the world.  Her insights into yoga through Somatics added immeasurably to my understanding. 

- - - -  - - - - 

To progress fast, you've to go slow,
To grasp what is cherished, retreat;
To reach the heights you must stay low,
To succeed, consciously not try! 

The outside always calls out,
An incessant driving force; 
The senses drag you outward,
Escaping from one's deepest fears! 

Strength lies in being supple,
Achievement lies in being fluid;
Be like water that takes the shape,
Of everything that contains it! 

See yourself touching the sky,
While being rooted to the ground;
The cauldron that's the inner fire,
Performs the alchemy within! 


Saturday, June 21, 2025

On Corporates and Naming Conventions

ON CORPORATES AND NAMING CONVENTIONS 

People have been working in companies for ages now. 

The work to be done is the same, nothing really changes.  But the nomenclatures change. What's in a name, said Shakespeare ( or Confucius, or Chanakya, it doesn't matter), a rose by any other name will smell as sweet. 

Oh no, it will not. The sweetness of the rose depends on the name. 

In those days when a worker used to fit nuts and bolts, he used to be called "turner and fitter". When the Parsi in Mumbai took up the job of opening soda bottles, he was called Sodabottleopenerwala and it became the surname for his descendents, there was even a Test Umpire of that name. 

But MNCs are a different breed. Especially American MNCs. 

There are no workers in MNCs. Oh no, that would be too demeaning. The entry level position is called Associate. In those days factory personnel departments used to be called Personnel Department. No longer, they are now Human Resources. In those days they used to fire people. No longer. Now they downsize, optimize, and rightsize. So can you guess what the Associate HR Rightsizing does? No, he is not a tailor's assistant in charge of taking measurements! 

In one of earlier jobs, mid career, I carried the title Senior Director Projects. Why Senior? I never found out. What projects? I still don't know, I was doing a job, like everyone else. Why Director? Ah, that's because Americans love the word Director. It makes the person feel like he is directing something, like a movie Director lording it on the sets. I had no one reporting to me in that particular role, but that doesn't matter. 

Talking of that, note that word, role. No one does a job anymore, it's all role. 

I believe in the US, sweepers are called Associate Janitorial Services. Some of them are called Janitorial Services Executive. 

You must be wondering where all this comes from. Well, I figured that the key is, in American companies, no is a worker. Everyone is a leader! I have attended dozens of leadership seminars in my career but never, not one, followership seminar! 

And what about the departments that you work for? In those days, you used to work for Painting Department, Punch Card Department, Stores Department, etc. in a car factory, Watch Factory, or Curtain Shop. Pretty clear right? If your grandmother asked you what job you are doing, you could tell her you are a welder in the Assembly Department of a Car Factory. Pretty clear, grandmother gets the idea. 

Nowadays things have changed. The departments in an in-house software company are called Projects, Services, Delivery, and Process. Then someone says, Process doesn't quite cut it, so let's call it Business Process. Then BPOs get a bad name, people figure out that it's a sweat shop with a different name. So they call it KPO, Knowledge Process Outsourcing. Why? Because we are going up the value chain! Everyone wants to constantly go up the value chain, in case you didn't know. 

The company you work for is an in-house unit, a "captive", doing work only for the US parent. Bangalore is the captive capital of the world. Every office here is a captive. Now that word captive reminded everyone of colonial times, when we were slaves of the British. So they changed it to Development Centre. Not quite good enough. Changed it to Global Development Centre. Sounded alright. 

Then that became unpopular for some reason, they changed it to Global Capability Centre. Working for a US Vertical. What's a vertical? It's just a department of the parent organisation. 

At some point they put together  all the different verticals working for a particular service in India, and called it a Horizontal. What does that mean? Don't be stupid and expose your ignorance by asking, our VP has just been promoted to Head of Vertical Horizontals! 

Meanwhile, everyone started getting a severe inferiority complex. Here they are, slogging away, for what? What is changing? 

I know, said one bright lad, in a meeting one day. We are all change agents! Changing what? No one asks, people in the meeting have worked   long enough for an MNC to know that they should not ask such questions. But somehow, Change Agent didn't become popular. 

Some other bright spark in another MNC, very likely a CEO used to spin doctoring, came up with the term Transformation! Now, that sounds good. Brilliant! Every MNC in Bangalore very soon had people working in the Transformation Department. They were always transforming something. 

I thought that was the end of it. You can't get better than that. But obviously I was mistaken. 

This is from today's news, and I quote: 

Accenture will consolidate its services - strategy, consulting, technology and operations - into a single integrated Business Unit called Reinvention Services under the leadership of Manish Sharma. 

Unquote 

Now this Manish Sharma happens to be my wife's MBA batchmate. She says the entire batch is really proud of him, he has done very well for himself. 

But do you really know what he does for a living, I asked? Oh, he is reinventing, obviously, said the wife, giving me that pitying look that wives reserve for their husbands. 

As in, what is his job?, I asked.  Silence, from the wife's side. 

I suspect she doesn't know. I doubt if Manish Sharma himself knows.

Just wait and watch. By the time the year is out, every MNC in Bangalore will consolidate their horizontals and verticals into Reinvention Centers. 

Progress, after all, needs to have a name.