THE GOLDEN TAP : THE INSIDE STORY OF HYPER FUNDED

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Paste or type your HTML here and click to previewEver wondered why global investors are willing to write million dollar cheques to young and inexperienced entrepreneurs? Why are companies no longer judged on their ability to make profits? Why the valuation of a startup can dwarf that of its well-established counterpart? Is it a bubble? Or have the rules of the game changed? Can these hyper-funded; technology driven companies become global superpowers? Or is it an unsustainable phenomenon? The Golden Tap gives you the answers. In a remarkably honest, no holds barred account; Kashyap – himself a serial entrepreneur – demystifies the technology ecosystem that exists in India today. From the origins of Amazon and Google, to the remarkable growth of Flipkart and Ola, he meticulously plots and chronicles a connected global sequence of events. Set in this background he recounts his personal roller coaster of a life. A story filled with ambition, greed, vanity, fear and success that all young entrepreneurs can relate to. Is this the business model of the future? Or merely a game of poker played by master investors? The answers pour out of The Golden Tap.

ASIN ‏ : ‎ 9351941523
Publisher ‏ : ‎ Lotus; First Edition (20 November 2015)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 280 pages
ISBN-10 ‏ : ‎ 9789351941521
ISBN-13 ‏ : ‎ 978-9351941521
Item Weight ‏ : ‎ 470 g
Dimensions ‏ : ‎ 20.3 x 25.4 x 4.7 cm

Reviewer: Faheem Moosa
Rating: 5.0 out of 5 stars
Title: It all makes sense to me now (and still doesn’t quite make sense)!
Review: I love entrepreneurship and am proud of how India is in the global spotlight for its scorching startup scene. In my search for knowledge about all things startups, I devour any information that comes my way whether via the mainstream media or via niche blogs. But there’s always been one major problem: startup journalism is an echo chamber. Everyday you’d wake up to news about a gazillion dollar funding round and how great startups and founders are and even how India is the new China. Amid the funding frenzy and the millions and billions being made or raised by twenty-something founders, I’ve found that there is a major part of this story that is not being told. Especially when it’s common knowledge that almost all of the celebrated startups are bleeding cash profusely without profitability in sight. And especially when it’s common knowledge that there are hundreds of millions of dollars pumped into Indian startups yet there are hardly any IPO’s or acquisitions to write home about. There was something about the whole story that I couldn’t fully understand. I desperately wanted to learn how we got to where we are today and where we are going. The more I read about startups in the newspapers and blogs, the more questions I had. But no answers.And then I read The Golden Tap.If there’s one word I could use to describe this book, it’s this: lucid. Kashyap Deorah is straight as an arrow and clearly lays out the history, key global events, players, reasoning and context that have led the Indian startup ecosystem to where it is today. Peppered with inside stories and unique insights about how and why things have unfolded the way they have, this book is a page turner. Kashyap takes us back two decades from when the internet as we know it began and walks us through how the highs and lows of the tech startup spaces in the US and China have impacted the frenzied pace of India’s startup scene. You’ll learn, among a ton of other things, about the motivations and strategies of global funds, how the Indian VC industry was attacked and how it fought back, Flipkart vs. Amazon vs. Snapdeal as a poker game, e-commerce unit economics (or the lack thereof), and the subtleties of growing a business in India versus in the United States.Kashyap is brave in that he takes a clear stand and makes predictions about what he thinks will unfold in the days to come in the Indian startup scene with its hyper funded poster boys. His learnings as an entrepreneur who has done business both in India and the United States make for invaluable gems that any entrepreneur – young or old – could benefit from. He also offers a glimpse into some business ideas he thinks have massive potential in Indian and global markets.While the book is gripping and entertaining, with interesting and hilarious anecdotes such as the author’s negotiation with Kishore Biyani or his Facebook chat with ex-Housing.com CEO Rahul Yadav, it is also dense with lots of history, dates and names to remember. For this reason, some of the narrative early in the book can be a bit dry. But it’s a tiny complaint I’m willing to overlook because, as Pearl S. Buck once said, “If you want to understand today, you have to search yesterday.”When I read about startups in the media henceforth, I will now put it all in the context of what I learned reading The Golden Tap. That’s why I have no hesitation in giving this book five stars. It’s by far the best book I’ve read all year.

Reviewer: pratyush
Rating: 4.0 out of 5 stars
Title: Gripping
Review: I purchased the book for information and insights into the current start-up frenzy, of which I seemingly cannot get enough of. I expected sort of a mix between The Hard Thing about Hard Things and Zero to One. I was wrong.The book is a writer’s book, not an entrepreneur’s book. It is fast-paced and gripping, putting quite a few murder mysteries to shame. Special mention, the third part of the book cannot be put down once begun. I expected a bit more of autobiographical content, but the style with which market commentary is done more than makes up for it.The information content is dense, but about the only problem I have with the book is that most of what Kashyap has to tell is what I believe to be easy public knowledge. It might be because I have been following the market quite closely. The understanding of the investor’s game is brilliant and quite a few dots got connected.All in all, the book is a good read, perhaps a great one.

Reviewer: MR
Rating: 5.0 out of 5 stars
Title: Mandatory read for anyone interested in the Indian startup ecosystem
Review: One of the best books I have ever read. It is a must read for anyone interested in the Indian startup ecosystem. Especially those wondering what has hit the country in the last 1.5 yrs. I read this book in 3 days flat – my second fastest read ever. Second only Harry Potter & Deathly Hallows.Kashyap interweaves his personal story with the market narratives and provides a compelling perspective on what is happening in the Indian ecosystem. The fact that he traces the history of technology startups in India to build his case makes it a very well connected and coherent read.It feels like a great expert commentator talking about a game happening in real time. Those who have built or worked at startups in India can clearly relate to every word he says. I always used to wonder about whether the fundamentals justify these valuations but looks like it has been a larger game plan. And looks like what the book predicts is already happening: http://tech.economictimes.indiatimes.com/news/startups/tiger-global-to-tone-down-current-aggressive-style/49853457I could also relate to many of the real challenges in the Indian ecosystem the book outlines. e.g. I have witnessed multiple stories of stock option conflicts among employees and employers to the extent people have stopped working for other people’s startups.When we read a book, we often forget the date/time when it was written. It is critical that this book is read NOW vs later. This is a commentary as things are unrolling today. If you postpone reading it for a while, things may have already changed and it may seem that the book has been written in hindsight vs foresight.

Reviewer: Sangeetha Venkat
Rating: 2.0 out of 5 stars
Title:
Review: I was expecting this to be an insight into the hyper funded start ups of india but the author for most part talks about his journey to IIT and the companies he set up. He has made it look more like a marketing book for his companies and his initiatives. I did find the VC investment in Indian startups interesting and will now probably look to read a book that gives me more insight into this.

Reviewer: Ravi Kakkad
Rating: 5.0 out of 5 stars
Title:
Review: Brilliant read! Kashyap is the poster child for tech entrepreneurship for an entire generation of Indians. He effortlessly jumps in and out of his personal journey over the past 15 years as he links it to the broader ecosystem in this part-memoir, part-history lesson, and part-guide for any one who is even remotely interested in the Indian startup scene. Written with global calibration and with macro developments as context, the book is also an illuminating read for outsiders looking in to India. The icing on the cake is his no-holds-barred assessment of the current environment and the future of the Indian startup scene. What is perhaps most fascinating throughout the book is his honest acknowledgment of the emotions and personal relations that are tested and strengthened along the way. Absolutely loved this creation from someone I have known and respected for a very long time!

Reviewer: SmiSG
Rating: 4.0 out of 5 stars
Title:
Review: The Golden Tap is a book for those wishing to understand the Indian start up scene. While detailing the timeline of events it introduces the reader to the individuals and companies who founded and funded the Indian start up scene. Well written and an interesting read!

Reviewer: Anonymous
Rating: 4.0 out of 5 stars
Title:
Review: If you are picking this book up to get the ‘scoop’ on the inside stories of well known Indian startups, this is not the right book.If you are picking up this book to understand the mechanics of how hyper funded startups got there, the reasons behind the golden tap, what’s wrong with that picture and what the future holds, this is a great read.The author does spend a few chapters setting up the backdrop of this book with his storyline and cast of characters (if I can take the liberty of calling them that). During this time it reads more like a story book. However the pace picks up really in the second half where all pieces come together for the author to explain very crisply what is wrong with the hyper- funded startups: the untenable unit economics of ecommerce Giants in India, the hunger for funding for status sake rather than building a sustainable business.Towards the end the author offers great insights on building businesses in India vs US and ideas for businesses in India.A very engaging read overall.

Reviewer: Vijay Chittoor
Rating: 5.0 out of 5 stars
Title:
Review: The Golden Tap brings out rare insights by effortlessly connecting large global trends to specific events in the world of Indian startups. What makes it even more special is that Kashyap lived many of those events himself as a serial entrepreneur, and does not shy away from sharing deeply personal stories.Kashyap recounts an incident early in his career where he allowed himself to be caught unawares by the macro environment, and a promise he made to a mentor to never be surprised again. The Golden Tap passes on all of his wisdom to any entrepreneur interested in building a sustainable company without either getting carried away by the bubble of the day, or being surprised when the bubble bursts. It is a terrific read!

4.5

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