Kunal Bahl’s Introduction:
Kunal Bahl, the founder of Snapdeal, is invited to the stage as a distinguished guest. Bahl is greeted with a warm welcome and enthusiastic applause from the audience.

Ratan N. Tata’s Introduction:
Ratan N. Tata, a legendary figure in India, is introduced as a source of inspiration and admiration. The audience erupts in thunderous applause upon Tata’s arrival, demonstrating their respect and fondness for him. Tata’s presence is seen as an honor and privilege for the event.

Audience’s Reaction:
The audience shows immense excitement and affection towards both Kunal Bahl and Ratan N. Tata. Bahl and Tata are seen as respected and admired individuals, and their appearance on stage generates a positive and lively atmosphere.

A New Digital World:
Ratan Tata recognized the potential of the digital world and the rise of virtual retail. He saw the opportunity for handheld devices to revolutionize the way people shop.

Learning Experience:
Tata admitted that he was new to the digital business world and was eager to learn. He found interacting with young entrepreneurs educational and inspiring.

Founders’ Passion and Innovation:
Tata was captivated by startups with interesting concepts that excited him. He sought founders who were passionate about their sector and had innovative ideas.

The Importance of Intuition:
Tata acknowledged that he was more intuitive than a numbers person when making investment decisions. He recognized that not all investments would be successful, but he was willing to take risks on promising founders.

Supporting Underfunded Startups:
Tata was willing to invest in startups that might not attract funding from others. He believed that founders with passion and innovation deserved support, even if their businesses were not considered “sexy” by investors.

Entrepreneur’s Value System:
Tata believed that entrepreneurs should have strong value systems to guide their businesses. He emphasized the importance of building the right values to avoid losing sight of the company’s purpose.

Disruption and Innovation:
Tata observed that disruption was happening globally, with established companies investing in innovative startups. He acknowledged the need for businesses to embrace disruption and seek new opportunities.

Traditional Businesses’ Resistance to Disruption:
Traditional businesses often protect their investments and business practices, leading to a negative stance towards disruptive innovations. They may fight against new maverick businesses that challenge their established ways of doing business.

The Virtual and Digital World as a Disruption:
The virtual or digital world poses a significant disruption to traditional brick-and-mortar businesses and established business models. Traditional businesses may view the digital world as a threat to their existing investments and market positions.

Traditional Businesses’ Negative Reactions to Disruption:
Some traditional businesses may desire the failure of disruptive technologies and innovations. They may exhibit bitterness and aggression towards disruptive businesses that challenge their dominance. Instead of adapting to the changing times, they may try to defend their turf and resist the transformation.

Adapting to Changing Times:
Respect is often accorded to individuals who adapt to changing times and embrace new technologies. Some individuals, regardless of age, demonstrate a willingness to think and act like younger generations, embracing new ideas and technologies. Others, particularly those in leadership positions, may resist change and defend their traditional ways of doing business.

India’s Transformation and the Rise of Digital Connectivity:
India has witnessed a significant increase in cell phone ownership, including smartphones. This widespread mobile connectivity has created a virtual retail outlet for goods and services, accessible to a large segment of the population. This digital transformation is not disruptive in nature, as it provides convenience and access to a wide range of products and services.

Ratan Tata’s Strategic Investments:
Tata’s acquisition of Khoras in 2005-2006 and Jaguar Land Rover was driven by strategic considerations, aiming to expand SUV manufacturing and gain international capabilities. Tata acknowledges that his investment in Chorus was influenced by delays in mining licenses and a desire to acquire an international market presence. Tata’s investments in Kunal Bahl’s ventures, such as Ola Cabs, are seen as enjoyable due to their positive impact on the entrepreneur’s success.

Kunal Bahl’s Investment Approach:
Bahl’s angel investing, often conducted with his partner Rohit, is motivated by the desire to stay updated with cutting-edge entrepreneurship. He emphasizes the importance of reducing information asymmetry between demand and supply, particularly in the Indian market, which has been affected by middlemen. Bahl also aims to benchmark his company against new entrepreneurs to maintain talent quality and prevent stagnation.

Kunal Bahl’s Concern about Future Disruption:
Bahl acknowledges the possibility of disruption by emerging startups and recognizes that his company’s main threat lies in potential competitors who do not yet exist. He emphasizes the importance of staying vigilant and paranoid to avoid complacency and ensure the company’s continued success.

Bahl’s Advice for Entrepreneurs Facing Challenges:
Bahl suggests that entrepreneurs will inevitably face difficult periods during their journey, which are crucial for character development. He acknowledges that such challenges are stressful but encourages entrepreneurs to persevere and learn from them.

The Importance of Perseverance:
Kunal Bahl emphasizes the significance of persistence, sincerity, and confidence in overcoming challenges as an entrepreneur. He recounts a time when Snapdeal faced a financial crisis with only $100,000 in the bank and a million dollars in salaries to pay. Bahl shares another instance from the early days of Snapdeal when he and Rohit Bansal had only 5 lakhs left in their bank account, but they chose to go all in instead of walking away.

The Power of Confidence:
Bahl highlights the importance of projecting confidence, even in difficult situations. He describes a scenario where he and Rohit would schedule Skype calls with potential investors to convey a sense of professionalism and dedication.

Dealing with Unresponsive Potential Partners:
Bahl discusses the challenge of dealing with people who do not take entrepreneurs seriously. He narrates an experience where potential clients would avoid their calls when they were selling coupon books as a publishing company. To overcome this, Bahl and Bansal would resort to showing up in person to secure meetings.

Creative Approaches to Overcome Obstacles:
Bahl shares an anecdote where he used a Vonage phone with a US number to call a marketing head who had previously ignored his calls. This unconventional approach resulted in a successful meeting and potential partnership.

Handling Investor Denials:
Bahl acknowledges the disheartening experience of facing investor rejections. He stresses the importance of resilience and persistence in the face of such setbacks.

Ratan Tata’s Investment in Snapdeal:
Bahl briefly mentions Ratan Tata’s recent investment in Snapdeal and the positive media attention it has generated. He hints at the possibility of future developments and expansions in Snapdeal’s business activities.

Personal Investments:
Ratan N. Tata emphasizes that personal investments should remain private and not be made public. The media often publicizes personal investment decisions, which Tata believes is unfortunate.

Investing in Startups:
Tata states that he invests in startups based on his personal assessment of founders, the excitement generated by the sector, and the level of innovation involved. Intuition and personal conviction play a significant role in his investment decisions, rather than a structured plan.

Managing Startup Dynamics:
Kunal Bahl highlights the importance of having a co-founder or team to embark on the entrepreneurial journey. He emphasizes the need for mutual respect, open communication, and a strong personal equation among co-founders. Bahl stresses the importance of having strong-willed and opinionated co-founders who can come together to form a unified opinion for the company.

Value Systems for Entrepreneurs:
Bahl believes that entrepreneurs should adopt a value system that emphasizes integrity, ethics, and long-term thinking. He emphasizes the importance of creating value for customers, employees, and the community, rather than solely focusing on wealth creation.

Values and Ethics:
Ratan N. Tata emphasizes the significance of observing a person’s actions throughout their career and evaluating their value system based on how they run their organization. He highlights that ambition and aggression aren’t necessarily negative traits if they align with a strong value system. Tata suggests that true values are revealed during crisis situations.

Leadership in Times of Crisis:
Tata uses Apple as an example of a company that faced a crisis when its founder, Steve Jobs, was ousted. Despite facing bankruptcy, Apple brought Jobs back, leading to its subsequent success and becoming the world’s most profitable company. This example illustrates the importance of leadership during crises and the need to take risks and innovate rather than follow in the footsteps of others.

Entrepreneurship and Acquisition:
Kunal Bahl discusses Snapdeal’s strategy of acquiring companies to bring in talented individuals and fill gaps in their portfolio. Bahl believes that the best talent often starts their own companies, and acquiring these companies allows Snapdeal to incorporate their expertise and entrepreneurial spirit. He highlights the importance of providing these entrepreneurs with a platform to achieve significant impact and drive the company’s success. Bahl emphasizes that Snapdeal’s acquisition strategy is opportunistic and driven by circumstances rather than a fixed target.

Tata’s Investment:
In 2015, Snapdeal experienced rapid growth in valuation, revenue, and consumer experience, transforming itself from a follower to a leader in various aspects. Kunal Bahl acknowledges Ratan Tata’s investment in August 2015 as a significant factor in the company’s success, contributing to over 95% of the capital raised.

Rajan’s Question and Kunal Bahl’s Response:
Rajan asks about Kunal Bahl’s interactions with Ratan Tata for advice and mentoring. Kunal Bahl respects Ratan Tata’s busy schedule and avoids monopolizing his time. They often meet at events, and Kunal Bahl values these opportunities to absorb Tata’s wisdom and simplicity.

Kunal Bahl’s Preparation for Meeting Ratan Tata:
Before meeting Ratan Tata in person, Kunal Bahl watched numerous YouTube videos of him to reduce nervousness and acclimatize himself. He emphasizes the straightforwardness and simplicity of Ratan Tata’s approach, which resonates with entrepreneurs who often overcomplicate solutions.

Entrepreneur’s Question on Apparel Sizing and Return Issues:
An entrepreneur shares his personal experience with sizing and return issues when buying apparel online, particularly with Snapdeal. He suggests the potential of using 3D body scanning technology to provide accurate sizing recommendations and reduce return rates.

Kunal Bahl’s Response:
Kunal Bahl acknowledges the challenges of sizing and returns in the apparel industry, particularly when shopping online. He mentions that Snapdeal is exploring various technologies, including 3D body scanning, to address these issues and improve the customer experience. He emphasizes the importance of constantly innovating and adapting to customer needs in the rapidly evolving e-commerce landscape.

Supplier Importance:
A supplier plays a significant role in an organization’s success as they provide investment and resources. Mr. Tata acknowledges the importance of suppliers and emphasizes the need to consider the entire eco-structure, including customers, creditors, and supply chain sources, when making decisions.

Managing Suppliers and Creditors:
Kunal Bahl believes in continuous learning and improvement to stay competitive. Mr. Tata suggests being open to feedback and learning from competitors, other industries, and icons. Both speakers emphasize the importance of treating suppliers fairly and considering their perspectives.

Internal Challenges and Seller Trust:
A seller on Snapdeal raises concerns about internal challenges, such as sellers’ loss of trust, potentially harming the company. Kunal Bahl acknowledges the need for organizations to evolve, learn, and improve to address internal challenges. He encourages open feedback from stakeholders to identify areas for improvement.

Continuous Learning and Improvement:
Kunal Bahl emphasizes the importance of continuous learning and improvement for organizations. He encourages companies to be open to feedback from various sources, including competitors, other industries, and icons. Mr. Tata agrees with the importance of learning and considering the perspectives of all stakeholders.

Tata’s Values and Entrepreneurship:
Ratan Tata emphasizes the importance of ethical values in Tata companies and expects entrepreneurs receiving investments to prioritize serving and giving back to communities and employees. He recounts an experience with a pesticides company where the sales manager celebrated a year without pests and low sales, prompting Tata to leave the company immediately.

Audience Engagement:
An audience member expresses gratitude for the inspirational event, highlighting the motivation and push she received from listening to successful entrepreneurs. The host acknowledges the impact of motivation and inspiration on startups and encourages the audience to share the positive experiences with their colleagues.

Art Appreciation and Corporate Support:
An audience member inquires about corporate support for the art market in India, particularly in the context of corporates viewing art as a CSR activity. Ratan Tata acknowledges that corporates are increasingly contributing to accessing and exhibiting art in India, but it will take time to reach the level seen overseas.

Audience Selfie with Ratan Tata:
The host facilitates an audience selfie with Ratan Tata, encouraging loud applause and excitement from the attendees. The host concludes the event with a reminder to network, meet people, and embrace resilience by getting up and drinking after setbacks. The host bids farewell to the audience and thanks everyone for attending.