Manufacturing in India was hobbled by the state for many decades after Independence — and is still not in great shape. Why is this so? How can we move forward?

Welcome to Episode 104 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In the first of a two-parter, Ajay lays out the grim reality today, and Amit gives a historical perspective. In the next episode, we discuss why Industrial Policy would be the worst way to tackle this.

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Travails of the Indian Businessman05:12 Chapter 1: The Hard Facts about Indian Manufacturing09:07 Chapter 2: The Difference Between Manufacturing and Services28:43 Chapter 3: A Historical View43:47 Chapter 4: The Problems with Indian Manufacturing TODAY1:08:05 Chapter 5: The Union and the State1:09:49 Chapter 6: Recommendations

For full show notes, click here.

Admit it, our last episode, You Should Start a Business, blew your mind. You couldn’t wait to get going! You wanted more!

Welcome to Episode 103 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah.

In this episode, Amit shares more gyan on starting a business. You have no excuse left now! Incorporate!

TABLE OF CONTENTS: 00:00 Packaging00:13 A Bumblebee Among the Social Butterflies02:53 Chapter 0: Setting the Stage05:02 Chapter 1: Be a Generalist10:13 Chapter 2: Practice First-Principles Thinking12:17 Chapter 3: Focus on the Customer18:50 Chapter 4: Focus on Product, Not Marketing23:15 Chapter 5: Choose a Mission Bigger Than Yourself28:12 Chapter 6: Think Long-Term40:12 Chapter 7: Choose Your Partner Well48:15 Chapter 8: Choose Your Employees Well53:11 Chapter 9: Hard Work is Non-Negotiable1:01:57 Chapter 10: Optimise for Truth-Telling1:10:55 Chapter 11: Embrace Simplicity1:15:20 Chapter 12: Have Professional Pride1:18:03 Chapter 13: Be Guided by Your Inner Scorecard1:19:55 Chapter 14: Recommendations

For the full show notes, please click here.

Welcome to Episode 102 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

There are many good reasons to start a business. In this episode, Amit and Ajay take you through a few of them — and then Amit elaborates on the mindset you need to get started.

This is Part 1 of a grand two-parter. If you don’t start a business after this, you are doomed! Start! Now!

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Eh, Chhoti Ladki!06:34 Chapter 1: Why You Should Start a Business19:19 Chapter 2: The Detachment Argument24:01 Chapter 3: Prioritise Love Over Like28:52 Chapter 4: Don’t Listen to Naysayers34:30 Chapter 5: Be Internally Driven46:57 Chapter 6: Have a Bias for Action

For the full show notes, please click here!

When we think about state intervention, the first principle we consider is whether it is necessary. But we should also think about whether it is possible — and how easy or hard it is. How do we figure this out?

Welcome to Episode 101 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Ajay lays out the metrics by which we can judge the difficulty of a proposed state intervention. Monetary policy is easy. Financial regulation is hard. Let’s understand why!

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: The Light Has Gone out of Our Lives03:52 Chapter 1: Is This Easy or Is This Hard?06:51 Chapter 2: Metrics for Intervention15:49 Chapter 3: Some Concrete Examples28:52 Chapter 4: The Hacking Mindset32:02 Chapter 5: The Important Things are the Hard Ones40:32 Chapter 6: Recommendations

For the full show notes, please click here.

We’ve reached episode 100 — HURRAY! — and it’s time for another session of Ask Me Anything. Amit and Ajay take questions from gentle readers about a variety of subjects, from Ajay’s love of suffering to Amit’s (dubious) haircare. (The two are not related.) Mad fun, watch!

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Under the Banyan Tree03:38 The Questions Begin!1:40:10 NOT the Last Bow

For full show notes, please ⁠click here⁠.

Regulation always has the potential to go wrong. But in India, it’s been worse than in much of the world. It has become a tool of oppression of the worst kind.

Welcome to Episode 99 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Amit talks about the theory of regulation in general — and Ajay delivers a masterclass on how the Indian state turned it into a horror film.

Despite that, the episode begins and ends with good news!

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: Good News!05:45 Chapter 1: The Theory and History of Regulation22:16 Chapter 2: Getting the Terms Right27:03 Chapter 3: Why Set Up a Regulator?36:14 Chapter 4: Where India Went Wrong46:36 Chapter 5: What is Wrong with the Regulatory State?47:52 Chapter 6: How Can We Fix This?53:52 Chapter 7: The Wonder That Was FSLRC1:01:56 Chapter 8: The Ecosystem of Ideas (and Ideas People)1:18:37 Chapter 9: Recommendations

For full show notes, please ⁠click here⁠.

We define a state as the entity that has a monopoly on violence. But does political authority lead to political legitimacy? How do we define legitimacy? What happens without it? How should we approach it as citizens.

Welcome to Episode 98 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Ajay draws from political philosophy to expand on the intricacies of the concept of political legitimacy. And at the end, Amit gives an impassioned monologue on why it may not even matter in India!

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Vacation & an Education03:07 Chapter 1: What is Legitimacy?11:53 Chapter 2: Where Does Legitimacy Come From?19:39 Chapter 3: What Goes Wrong Without Legitimacy?26:41 Chapter 4: What Public Choice Theory Tells Us32:57 Chapter 5: Legitimacy for an Ideologue36:36 Chapter 6: How to Increase Legitimacy44:35 Chapter 7: Amit Gives Context and Nuance55:33 Chapter 8: Recommendations

For full show notes, please click here.

We often assume that art and genius are the playground of the youth. Well, while giving himself an education in art during a vacation in Spain, Amit realised that all the great Spanish masters did their most powerful work in old age, when thehraav met mastery. The light in winter is different.

Welcome to Episode 97 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Amit expands on his observation about the artistic possibilities of old age, while introducing the lives and work of Diego Velázquez, Francisco Goya, Pablo Picasso and Joan Miro. Also featured: Salvador Dali, U2, Bob Dylan, Penelope Fitzgerald and Wim Wenders.

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Vacation & an Education04:34 Chapter 0: Museums and Narratives07:26 Chapter 1: Diego Velázquez and Lal Meninas19:32 Chapter 2: Francisco Goya and the Black Paintings31:42 Chapter 3: Pablo Picasso Likes to Play47:56 Chapter 4: Joan Miró Strips It Down54:47 Chapter 5: More Late Mastery1:04:51 Chapter 6: Recommendations

For the full awesome show notes, click here!