First Principles

Everyone thinks Shiprocket began in 2017. But the company Saahil Goel and his co-founder Gautam Kapoor started was born in 2011, and it was rebuilt three times before it worked: a “Shopify for India” called KartRocket, a marketplace called Craftly, and finally the shipping-and-enablement layer now behind a quarter of a million Indian sellers, on its way to a public listing. In this ~2-hour convers...

Part 1 of 2. Most people date Shiprocket to 2017; in truth it was born in 2011, and the road there runs through two companies called KartRocket and Craftly. Saahil Goel walks Rohin through the build: Rs 15 lakh of their own money, nearly not being hired by their own first engineers, the hard lesson that in India you sell outcomes not software, an investor ultimatum to take $4 million or nothing, a...

Part 2 moves from the journey to the operating philosophy. Riyaaz Amlani unpacks his evolving stance on the aggregators — from resistance to "uneasy truce" — and the hard lesson that restaurateurs who send guests to Zomato and Swiggy have only themselves to blame. He argues delivery and dine-in are two different businesses, lays out his ambition to turn Impresario into a full-service-restaurant pl...

In a business with the highest mortality rate of any, Riyaaz Amlani has spent 25 years building Impresario into 80+ restaurants across 20 cities — Social, Smokehouse Delhi, Antisocial, Bandra Born, Mocha — serving 8 million guests a year. He sits down with Rohin Dharmakumar for the full two hours: the philosophy of "handmade" at scale, the economics that actually decide a restaurant's life or deat...

Part 1 of Rohin Dharmakumar's conversation with Riyaaz Amlani is the origin story: why a returning UCLA grad decided Bombay was missing "places to be," how Mocha became Social, and what it actually takes to keep a restaurant group alive for 25 years in the highest-mortality business there is. The shisha ban, the private-equity money that never arrived, COVID, the marble hustle at age six, and the...

Part 2 picks up exactly where I left Bisu — on why a 7-year-old audio platform is releasing a theatrical film on May 8. From there, we go everywhere. Bisu's actual journey from a small village in Shekhawati to Bandra. The "full equation" view of metrics. Why saying no requires more work than saying yes. Why most of his learning comes from iterations, not books. And, in his closing answer, a quietl...

Lal Chand Bisu and three batchmates from IIT Jodhpur started Kuku FM in audio in June 2018. Almost everyone wrote them off — the louder competitor was getting the press, the VCs didn't believe vernacular India would pay for content, and the assumption was that short-video would flatten audio. None of that aged well. Kuku FM did ₹242 Cr in FY25 at 175% YoY growth, with roughly 10 million paying sub...

Lal Chand Bisu started Kuku in audio in 2018. Almost everyone in the press wrote them off — the louder competitor was getting the headlines, the VCs didn't believe vernacular India would pay, and the assumption was that short-video would flatten audio. None of that aged well. Kuku FM did ₹242 Cr in FY25 at 175% YoY growth, with roughly 10 million paying subscribers. This is the conversation Bisu,...

Welcome back to First Principles . This is Part 2 of our full conversation with Ankit Nagori, founder and CEO of Curefoods. If you have not listened to Part 1, go back and start there. In this half, the conversation slows down a little and gets even more interesting. Ankit has strong opinions about why healthy food will always lose to biryani on a Friday night, what building a brand people actuall...

Welcome to First Principles . This is Part 1 of our full conversation with Ankit Nagori, founder and CEO of Curefoods. Ankit joined Flipkart as the 22nd employee after cold emailing its founders at a book fair with almost no relevant experience and within six years he was Chief Business Officer. He then co-founded Cult with Mukesh Bansal, built it into one of India's most recognised fitness brands...

" I can't tell you what those years feel like. It was just a breeze. The camaraderie, the talent density. To be able to assemble that team at one place during a short period was the reason why Flipkart got to the success that it got to. " This is Ankit Nagori, who joined Flipkart as the 22nd employee, after cold emailing its founders at a book fair. He had almost no relevant experience but they hi...

Welcome to First Principles! This is part 2 of episode 52, the full conversation. Rohin met Utham Gowda at Spacebot Studio in Indiranagar on a Tuesday afternoon. Utham was compact, measured, and precise in the way he spoke, like someone who has spent years learning when to talk and when to listen. What's striking was how quickly he opened up. Within the first half hour of the conversation, you got...

Welcome to First Principles! This is part 1 of episode 52, the full conversation. Rohin met Utham Gowda at Spacebot Studio in Indiranagar on a Tuesday afternoon. Utham was compact, measured, and precise in the way he spoke, like someone who has spent years learning when to talk and when to listen. What's striking was how quickly he opened up. Within the first half hour of the conversation, you got...

Rohin met Utham Gowda at Spacebot Studio in Indiranagar on a Tuesday afternoon. Utham was compact, measured, and precise in the way he spoke, like someone who has spent years learning when to talk and when to listen. What's striking was how quickly he opened up. Within the first half hour of the conversation, you got the sense that this is someone who has thought very deeply about his own life, hi...

Hello, listeners, and welcome back to part 2 of the 51st episode of First Principles. Ms. Kalpana Morparia reached out to us via email after the bro-ification episode. It was the most pleasant surprise and we immediately knew we had to get her on the podcast. Here's someone who joined ICICI in 1975 as a lawyer, had absolutely no background in finance, and was then asked to run Treasury. She was te...

Hello, listeners, and welcome back to the 51st episode of First Principles. Ms. Kalpana Morparia reached out to us via email after the bro-ification episode. It was the most pleasant surprise and we immediately knew we had to get her on the podcast. Here's someone who joined ICICI in 1975 as a lawyer, had absolutely no background in finance, and was then asked to run Treasury. She was terrified bu...

Hello, listeners, and welcome back to part 1 of the 51st episode of First Principles. Ms. Kalpana Morparia reached out to us via email after the bro-ification episode. It was the most pleasant surprise and we immediately knew we had to get her on the podcast. Here's someone who joined ICICI in 1975 as a lawyer, had absolutely no background in finance, and was then asked to run Treasury. She was te...

In the 2nd part of the 50th episode of First Principles , Rohit Chennamaneni, co-founder of Darwinbox, joins the show to talk about what changes after the early chaos of a startup fades. He explains how Darwinbox has operated without a CEO for years, how the 3 founders divide ownership of decisions instead of debating everything together, and why this structure helped them move faster as the compa...

In part 1 of the 50th episode of First Principles , Rohit Chennamaneni, co-founder of Darwinbox, joins the show to talk about what changes after the early chaos of a startup fades. He explains how Darwinbox has operated without a CEO for years, how the 3 founders divide ownership of decisions instead of debating everything together, and why this structure helped them move faster as the company gre...

In the 50th episode of First Principles , Rohit Chennamaneni, co-founder of Darwinbox, joins the show to talk about what changes after the early chaos of a startup fades. He explains how Darwinbox has operated without a CEO for years, how the 3 founders divide ownership of decisions instead of debating everything together, and why this structure helped them move faster as the company grew. Rohit a...

What a year it's been. After a long hiatus and when we thought we'd closed the curtains for good, First Principles came back in April 2025 for Season 3. And what made this comeback so special? Simple: Rohin was genuinely excited to be back in the interviewing chair. That excitement is infectious. It showed up in every conversation and every question. This year, he sat down with eight incredible CE...

Hello and welcome back to First Principles. This is the part 2 of the 49th episode since we started, or the 8th episode of season 3. In this episode, I sit down with Aloke Bajpai, Group CEO of Ixigo, one of India's fastest-growing and most downloaded travel platforms. While most Indian OTAs followed the Western template of flights-first followed by hotels, Aloke and his co-founder Rajnish took a r...

Hello and welcome back to First Principles. This is the part 1 of the 49th episode since we started, or the 8th episode of season 3. In this episode, I sit down with Aloke Bajpai, Group CEO of Ixigo, one of India's fastest-growing and most downloaded travel platforms. While most Indian OTAs followed the Western template of flights-first followed by hotels, Aloke and his co-founder Rajnish took a r...

Hello and welcome back to First Principles. This is the 49th episode since we started, or the 8th episode of season 3. In this episode, I sit down with Aloke Bajpai, Group CEO of Ixigo, one of India's fastest-growing and most downloaded travel platforms. While most Indian OTAs followed the Western template of flights-first followed by hotels, Aloke and his co-founder Rajnish took a radically diffe...

Hello, listeners, and welcome back to First Principles, Episode 48, or the 7th episode of season 3. This is part 2 of the conversation. The host, Rohin Dharmakumar, first crossed paths with Deepak Abbot back in April 2015, even before The Ken had been founded. Rohin was chasing down an insightful breakdown of the tech ecosystem's huge user numbers during the Free Basics debate, and Deepak, a veter...