Thursday, July 17, 2025

Contrarian aspects of my life: no-religion, no-job, no-certification

India is a populous country. There is a competition for resources on the road, for buses, for college admission, for jobs, in hospitals, cricket match tickets, temples, and even in crematoriums. A contrarian position helps reduce the fight and eases life to some degree.

I learned driving while in the US, and when I returned to India in Bangalore in 1998, I realized driving here needs a whole set of new skills. For example, taking a right turn onto a main road was a nightmare for me. I kept waiting for someone to let me in, and became a target of serious honking from behind. I was no match for the swiftness and guts of the autowalla who used to become impatient waiting behind me. Soon, I found a trick. I started letting the auto move ahead, and I began following him. That was much easier. But I had a bigger Aha moment a few months later.

I realized the streets are empty when there is a cricket match on TV. I had not followed cricket for almost a decade by then. I started driving the family around during that time. We visited Gangarams, movie theatres, Ulsoor lake, HAL museum, Cubbon Park, etc. I began to learn the benefits of a contrarian position. Now, I haven’t watched cricket for a quarter of a century. Subsequently, I ended up taking contrarian positions much bigger than don’t-follow-cricket position, some by design, many others by circumstances. Here are three of them: No-religion, no-job, and no-certification.

No-religion: By the time I returned to India, I was convinced that the process of becoming is an illusion created and sustained by society and the culture. You must become successful by acquiring name, fame, and wealth – has been the dominant narrative. Hindu religion, with which I had a loose sense of belonging, is no exception. Right from birth to death, a set of rituals is “mandatory” so that “all will be well” for you during this and future births. That is the grand promise. For me, it looked like a crooked game being played by a small community, mostly Brahmins, for millennia. I lost interest in becoming anyone, and as a side effect, the grand promise of the Hindu religion looked meaningless to me.

For the past two decades, I haven’t been participating in any rituals – birth and death included. No idol worship, no temple visit, and no expenditure on anything remotely ritualistic. Over the last ten days, Gauri and I travelled from Dehradun to Ghangaria in Bhyundar valley. We trekked to the Valley of Flowers and to the Hemkund Sahib gurudwara. We have no plans of visiting any of the Char Dhams including Badrinath where most of the crowd is headed. Sometimes, I don’t have a choice, in which case I just chill out nearby. For example, when Gauri visited Kashi Vishwanath temple in Varanasi, I went to Mani Karnika ghat nearby and watched the sunrise. At the Puri temple, I looked after her belongings outside. Yesterday, when Gauri visited the oldest temple of Rishikesh, Bharat temple, I managed to strike a conversation with the school-going fourth graders about what they liked in school (they said – playing, except one girl who said she likes studies).

I continue to be a serious student of Upanishads, especially Katha Upanishad (my blog), that of Nagarjuna’s Sunyata as depicted in the 2nd-3rd century text Mulamadhyamaka Karika (my blog), and Ramana Maharshi’s UpadesaSaram (my blog), none of it requires me to belong to a religion. I study these texts in Sanskrit. When the Government census guys visited us in 2011, I asked them if they had “no religion” as an option. They didn’t. So, I got counted as a Hindu.

No-job: I have been a big beneficiary of capitalist structures. I worked for a decade after finishing my studies, two years in the US and eight years in Bangalore. I got stock options, and after IPO, I sold them and it helped in partial repayment of the home loan. I have been debt-free for the past fifteen years. However, capitalism demands that every for-profit company keep growing revenue, profits, and shareholder value. Given my disregard for the process of becoming, I realized it is better to step away from the corporate world and make a living independently without any pressure for growth. I quit my job in 2006, and I have been freelancing ever since. I still needed to pay the bills and work around the inflation. Moreover, I had to stand out from the crowd, market myself, create a niche, and deliver value. That’s not easy. I got lucky, got good collaborators, and kept getting assignments from for-profit, not-for-profit, and government organizations.

What’s in a name? One may ask. But the name I ended up giving for my consulting practice – Catalign Innovation Consulting acted as a beacon. It implied three things I would do: One, my primary role would be a catalyst – someone who helps an individual or teams move from intent to impact effectively. The primary role won’t be an activist driving an agenda of my own, won’t be a solution provider, and won’t be a knowledge imparting teacher. Two, I would be helpful in aligning strategy and execution. And three, I would help organizations in their innovation journey.  

Can innovation capacity building become obsolete, making me redundant? Sure, it can. However, if I look around, I see some of the innovation world leaders struggling right now, like Intel, Boeing, even Apple. Indian companies – both startups and established players are under pressure to innovate, especially in deep-tech innovation. I clearly see an opportunity in innovation capacity building in India at least for another decade, perhaps more. I also see myself playing a role in raising awareness on the dark side of innovation – using innovation towards predatory practices allegedly used by big corporates like Apple, Google, Amazon, Meta, Flipkart, etc. In short, I don’t see any dearth of opportunities right now.

No-certification: Indian society is obsessed with certificates. If you have a certificate from a prestigious institute, good for you, or better still if it is from a foreign institute. The obsession is understandable given the number of applications for any position and the number of bogus certificates floating around. I have been a big beneficiary of two certificates, one a bachelor’s of technology from IIT Bombay and the other, a doctorate from University at Buffalo, USA, both in Computer Science. I got my last certificate in 1996, almost thirty years ago. And then I decided to stop playing the certification game. I let my writing and my work become my credentials. This is a contrarian position, given that the three areas I work in: innovation capacity building, design thinking, and mindfulness have very little to with Computer Science. I have no certificate in any of these areas. My father finds it odd how I make a living by claiming expertise in areas in which I carry no certificate.

One implication of no-certification is that I don’t take an existing framework (or a case study for that matter) and adapt it. For example, I don’t do a certification in executive coaching or I do not do a certification from a foreign product management program and resell it in India. These are great and lucrative business models. But I don’t go there. I only work with my frameworks published through my books and blogs. Of course, these frameworks are created by building on top of existing studies and frameworks, and they are given due credit (each chapter of our innovation book has an average of 35 references).   

All my frameworks have one common assumption that is uncommon. They assume a biased-agent model versus a rational-agent model. If a president, a prince, or a portfolio manager participates in underage sex trafficking, it can happen only under a biased mental model. I was blown away when I heard Daniel Kahneman say, “Rational agent model is a non-starter” more than a decade ago, and it stuck.

To summarize, no-religion, no-job, and no-certification are some of the contrarian positions in my life. They have helped me navigate life relatively smoothly so far.

image source: Gemini AI

Saturday, June 21, 2025

My reading list and themes for 2025 - strategy, wars, and stock investing

I read mostly fiction last year – revisiting Sherlock Holmes, Agatha Christie, P. G. Wodehouse, etc. This year, it is non-fiction and revolves around three themes: strategy, wars, and stock investing. Let me start with strategy.

Strategy: So far, strategy has played a supporting role in my work on the management of technology and innovation. And I have been thinking about how I can strengthen that part. Apart from revisiting the strategy books I read more than a decade ago like “Understanding Michael Porter” by Joan Magretta, “Co-opetition” by Nalebuff and Brandenburger and “Good strategy, bad strategy” by Richard Rumelt, I plan to read “Playing to win: How strategy really works” by A. G. Lafley and Roger Martin and “The Crux: How leaders become strategists” by Richard Rumelt. I have already listened to podcast interviews of Roger Martin and Rumelt.  

Who rules the world? Wars are the new normal, and I realized my understanding of the real forces behind these prolonged wars is at best superficial. This is likely to be a vast ocean, and there is a chance that I get even more confused after reading a few books. Nevertheless, I plan to read the following two books as a starting point: “The new rulers of the world” by John Pilger and “Who rules the world?” by Noam Chomsky. If the essence of Pilger’s writing is that, “Imperial power wielded by rich states and multinational corporations, led by the US, is far more destructive than any terrorist organization,” and if Noam Chomsky is saying, “US is world’s biggest terrorist”, I am curious.

Stock investing: I opened an online trading account more than twenty years ago. It was a joint account with my mother, who was keen to learn the game. Soon I realized our approaches to investing are diametrically opposite – she likes to buy and sell the same day (or a few days later) while I was more interested in an investment horizon of 2-3 years. So, we split our accounts. She is now 88 and still going strong with her trading. In contrast, I lost interest in a few years and eventually turned to mutual funds, thanks to advice from friends like Ravi Aranke. My mom kept nudging me to get back to it. It has been six months since my interest was renewed. Now, I know that it is extremely difficult to beat the index. However, I am interested in finding out if I can manage to follow Buffett’s rule number one – Not to lose money and enjoy the process. I have started small and averaged one trade a week since December 11, 2024 (all buys so far).

This year, I re-read Peter Lynch classic “One up on wall street” and Joel Greenblatt’s “The little book that beats the market”. Also, read Parag Parikh’s “Value investing and behavioral finance”, Mohnish Pabrai’s “The dhando investor”, and Phil Town’s “Rule #1: The simple strategy for successful investing”. I am hoping to finish Pat Dorsey’s “Fives rules of successful stock investing” (half-way through), Aswath Damodaran’s “Narrative and numbers” and Tim Koller’s classic “Valuation”. Listening to podcast interviews of Dalal Street legends like Manish Chokhani, Rajeev Thakkar, Sankaran Naren, Sunil Singhania, Ramesh Damani, Sanjay Bakshi, Madhu Kela, and leading asset managers like Ravi Dharamshi, Amit Jeswani, Arvind Kothari, and Samit Vartak has been a big help. While I admired the legends, I was also impressed by the young investors (in their 30s) like Amit Jeswani for mastering the one-year horizon game and Arvind Kothari for demonstrating what scuttlebutt investing means in the Indian context. Outside India, I enjoyed listening to US tech-investor Dan Niles for his AI perspective and the Swiss investor Felix Zulauf for his macro perspective. 

I like what Mohnish Pabrai says (58:55), “Life has no meaning. We are here for a short time. And a lot of randomness in life. I don’t think there is a grand plan.” And when Sonia asks him, “If life has no meaning, why do people chase fame, money, success?” Mohnish answers, “They haven’t thought about it. And that’s why I became a game player. To pass the time, just do interesting things that you are excited about. And I am excited about playing games.” I have been in the life-has-no-meaning camp for a long time, playing different games that I enjoy. Now, I am exploring if the stock-investing game is something I can enjoy by keeping a margin of safety.

Some of these books will be read fast, and others will involve slow reading (see reading, fast and slow), taking notes, and updating frameworks. Chances are high, I won’t finish the list this year. Who cares?