He Sold His Company to Jio For 700 Crores. Here are his learnings.
ฝัง
- เผยแพร่เมื่อ 20 ก.ค. 2024
- I'm Varun, and this is a show where we get really deep about the future of tech, entertainment and business. While other podcasts scratch the surface, I think it is important to meet the best people in their fields and go much deeper. Today, we have a really special guest from the Indian genAI space, Aakrit Vaish. He's the Co-Founder & CEO of Jio Haptik, one of India's largest AI companies. He started the company back in 2013, and in 2019, Reliance Jio acquired it in a staggering $100 million deal.
Aakrit Vaish's story is more than just inspiring. Imagine being in a 9-5 job, wanting something more fulfilling and challenging. That's exactly where Aakrit was, like everyone working at a corporate company. But driven by his curiosity and desire for something greater, he left his job, moved to Silicon Valley, and successfully launched multiple startups. His significant moment came in 2010 during a visit to India, where he met with a lot of internet entrepreneurs and realized the untapped potential in messaging apps like WhatsApp, which were seeing incredibly high user engagement. So, he decided to innovate in this space. Fast forward to today, Haptik is revolutionizing customer support through their AI systems, managing over 1 billion monthly conversations.
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00:00 - Introduction
02:22 - Early career and Founding Haptic AI
11:23 - Pivoting from Consumer Product to B2B business
14:18 - The process of selling a company for $100 million
22:42 - The future of AI and its applications
27:10 - Impacts of Generative AI on Jobs and Education
31:18 - Software Business Models in the Age of AI
35:31 - Observations from being both a Founder and Investor
37:24 - What happens to Software Engineering in next 10 years
39:31 - Aakrit’s experience being Investor and what the future of venture capital in India
47:11 - Cultural differences between Indian and Silicon Valley startups
56:08 - Aakrit’s insight as a Founder after being a VC
57:32 - Hot Take - Secret to Health Transformation
57:58 - Hot Take - Can OS be a Chat Assistant?
59:22 - Hot Take - Go to AI Tools
01:00:54 - AI today, Opportunities in Future, and AI in Education
01:03:38 - Parting thoughts - วิทยาศาสตร์และเทคโนโลยี
This guy is a legend. He was able to sell a dream to Jio which is really difficult with a large cap like Jio with tons of resources for deep dive. Kudos to you Sir !!
I stay 1km away from Indiranagar. I'm trying to find a job after being laid off. Never did I know that Indiranagar was beaming with VCs waiting to infuse startups with cash if there was an exciting idea. Hoping to build something of my own in the near future. This world seems exciting.
Wonderful podcast Varun! Hats off to you! Thank you for introducing me to such an amazing Indian entrepreneur.
This is one of the best podcast series, previous episodes were so good..now going to watch this but seriously man thankyou for this ❤
This one felt like having the highest cosine similarity with what i would like to consume as a podcast! Thanks for making this. Subscribed!
Loved this! As someone who was on the beta list when haptic released and that got me excited by assistants, to see the whole story and wealth of experience shared, really grateful for you to get such amazing people!! My latest research published as a ML Researcher from IISc Blr, was on mutlimodal conversational agents... looking back now, i sense all these ideas started pouring looking from the first time i discovered haptic and its vision! Thankyou again!!
Can’t believe I am watching this for free
I think $100 maybe a bit misleading. The deal includes 230 crore ($33 million for 87%) to buy out existing backers and an investment of 470 crore ($67 million). Haptik, which was formerly a chatbot platform, had raised just over $12 million from investor.
He is still working at the company means , he is employed in a $100 Mn company with
Exactly!
Really liked the interview,so much to learn. Varuns way of asking relevant probing questions is amazing. I wish Haptik had taken the lead on AI enabled solution, but I think jio already has something planned. With regional NPL it will be interesting to see the adoption and usecases
glad to get introduced to his content, i get here after overpowered
Very insightful podcast. Thanks for sharing !
Gold Podcast..... literally 1hr and 5 mins of liquid gold. 💯💯💯🙌
One of the best series. Absolutely love the vibe
Great insights. Thanks for doing this.
This was fantastic. Loads of value.
what is the name of the books in aakrit's background
Great to see a founder hopefull about the future for software engineers. A breath of releif.
Varun thank you so much for bringing him, hidden germ, please continue the series by bringing Hidden Germ bcz these personality are underrated, the best episode I have seen in recent times
*gem
I would like to see an electronic insists that might be also future because of ai without a hard performancing cpu .. that will give us lot of startup and that will allinged with the earliest investment from Indian govt ,
I've my semester exams tomorrow but this seems more informative and interesting, when you started the series i was expecting that you will invite him and now you did, so i had to watch it and trust me it was worth the wait.
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Please have these podcasts uploaded to spotify
Thanks :)
Used to work for Aakrit extremely smart and a real visionary
Interesting perspective of how to save SaaS and context of Y-combinator in India 😊!!
some sections of audio is muted.
Aakrit was great! The host did an okay okay job! The questions cloud have been better or could have just let aakrit speak!
Wow, lots of learning.❤
47:48 very true.
Look at how these milti millionaire VCs are satisfied with a solid tshirt and a denim.
In India without Software no entrepreneurs would launch because of Corruption in other spaces
Tomato AI already does the discovery feauture
Amazing conversation 🤍✌🏼
I applied for this job in delhi in 2015, it was not a good experience and I am glad I did not continue with it
23:50 - This is so true!!
hey, the learning i did watching this video is awsome. but only one thing I would like to say is "can you ask about game development start up or gamers" to someone relevent person
What is the name of the tool that he mentioned ? Israel company? I am not able to find name
Same here. I hope Varun shares the link for it. I am searching and searching, lost my hope...
Good one
Some things are not stacking up…on one hand he celebrates the fact that he graduated from Uni of Illinois and how the uni gave birth to a whole series of innovative cos. And some time later he rubbishes the idea of colleges and educational institutes as just an insurance policy. So, in other words…my experiences were crucial to who I am…and what I built and am building…But, wait…for others they are just doing it for shallow reasons. Really?! dal mean kuch kaala hai. Use paas paisa hai to kya hua?! and perhaps this is the trick…what founders say and what they actually do may or may not match. its called…"storytelling."
❤❤❤❤
I'm in class 12
And I have build a full fledged e-commerce app and an education app
Can anyone help me what skill should I learn ahead or should I stick to it
App is just 5% journey. There is a lot more than just app. Kudos for start, next step would be to see your product market fit, ideally you should have done this earlier. Force people to use it and give feedback’s, ask them to share … reach 1000-5000 customer base and their reviews.
Reach out to VCs, there are firms who can patch you up with them. Then hire talent to scale it. You would need a business guy who would help you in scaling and taking it from 0 to 1 and beyond, this person is your cofounder.
Hope you make another unicorn. Best of luck 😊
@@ashishsharma-nz5pq thanks a lot ❤️❤️❤️
Hey Varun, really enjoyed this podcast, please do a favor, can you share the link for Notes Summarizing tool by an israel company he mentioned in podcast, I tried all searches i know, can't find it.
Guyz, please like this comment to get Varun's attention✌
He isn't the only one who "tried" to build chatgpt 10 years ago or even earlier, it's just that transformer wasn't invented back then. So this is nothing to be proud about.
Plot twist both are AI talking to each other
I also want to build an AI Tools. But don't know where and how to start. I am planning to learn coding.
talk to the folks at 100xengineers.com
@@VarunMayya Thank you for your Reply. Really they will help in building tools. But I don't know ABC Of coding. Without coding is it possible.
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7:00
Varun mayya, jay shetty and radhi devlukia shetty are you guys cousins.😊
14:45
I cant tell Akrit how much I fu**ing need that Jarvis... man I am starving for it
Really .... please.... update....in Hindi language
How it is different from chatfuel, dialogflow, Ada. I feel haptik is overrated.
Never saw a video with so many title and thumbnail changes under 24 hours😂
Varun be trying to change thumbnails to retarget reach.. ahaha.. lol nice try big bro
Call Carl pie in oneplus open conversation to talk about nothing
Hi
1000cr se 700cr kaise bhai
Arrey editor in my team who uploaded did wrong conversion of 100Million dollar to rupee. Plus this exit was when rupee was 70/ dollar
AI is a bubble, it won't be adapted quickly. It's more of a hype than being useful.
AI startups will fail miserably in near future.
ohk, tell me a few points, how will it burst?
@@krsnabantai
1. AI startups will raise lot of money.
2. They will work on AI tools which are not really required.
3. Once people will understand limitations of AI, they will stop/reduce using it.
4. AI startups will run into huge losses.
5. Unfortunately, they will layoff.
6. World might be normal again.
not true. few will fail but the major ones not@@shashwattripathi11
Only big players will survive, there is barely a anything that a big player can't do which a new startup will try to do.
brooo right now we are only seeing AI in software. We haven't started with hardware (very few of them are only doing it) as he said AI is a bubble to that I responded it is not! although I feel few things will affect if big players come all in but still the effect will not be that significant@@laviray5447
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47:11 You have been micromanaging people because the talent is cheap and readily available in India compare to western countries.
I feel bad for the folks that are being micromanaged by you everyday. They just don't have their life. It is sad. You are the reason India is not innovative and only consumer based.
Hello sir ...how do I contact him??
We are building something on lines of Jarvis 💯😌🙌
Would be great if we get a chance to meet him...
6 patents already published...
Working on the rest...
I genuinely like your generic youtube Videos about business/AI/Technology but please don't make this a podcast channel.
ILL
I'm working on AI agents for simplifying your job search. Have the version 1 ready. Droo your email if you want to be in closed beta
Where can I send email? Not here in public pls
Okay gave hope back to staying true to technology 🫠🫠