The story itself is hard to believe. A vegetarian kid from landlocked Mysore, with no connection to the sea, no family background in business, builds a billion-dollar global seafood company. He took salary cuts at every job change, even after getting married. He has never owned a car and the highest tax he paid was in 2015. And his eight-year-old son, unable to get his father's attention any other way, started a fake company called Blackfish and would set up a little boardroom at home, just to have something to talk to his dad about.

This episode covers what seafood as an industry actually looks like, why the last 1000 years haven't changed it, what it really means to build a global company from India, and what happens when a founder finally stops chasing money and has to sit with the question of what he actually wants from all of it.

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This episode was produced by Uddantika Kashyap and mixed and mastered by Rajiv CN.

Write to us at fp@the-ken.com with your feedback, suggestions, and guests you would want to see on First Principles.

If you enjoyed this episode, please help us spread the word by sharing and gifting it to your friends and family.

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 but her colleagues told her: "You do not say no to Mr. Kamath and live to have a great career in ICICI."

So she said yes and built one of the most remarkable careers in Indian banking.

In this episode, Ms. Morparia tells Rohin Dharmakumar about the day she realized she was sitting in a meeting like a piece of furniture because her deputy was handling everything and instead of feeling insecure, she celebrated. That's when Mr. Kamath gave her even more responsibilities. She talks about the ICICI culture where contradicting the chairman wasn't just allowed, it was encouraged. A senior JPMorgan executive once said the most impressive thing about ICICI was that "the junior-most person could contradict the chairman and get away with it."

She also gets candid about things most leaders don't talk about. Like why she wishes she had done an MBA. Why she has strong opinions about people's physical appearance at work and knows it's a flaw. Why her spiritual guru completely changed her relationship with the one thing she considered her biggest regret in life.

She went to a Ferrari racetrack and hit 304 kmph. She believes work-life balance is nonsense and wishes every youngster would realize that life is work and work is life.

Listen in for all this and more, including why she thinks India's next 30 years belong to banking, healthcare, and infrastructure. Why retirement at 60 is an outdated concept. And why on a scale of 1 to 10, she rates her happiness at 9 plus.

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This episode was produced by Uddantika Kashyap and mixed and mastered by Rajiv CN.

Write to us at fp@the-ken.com with your feedback, suggestions, and guests you would want to see on First Principles.

If you enjoyed this episode, please help us spread the word by sharing and gifting it to your friends and family.

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 different path. The one that would take nearly 14 years before Ixigo became a full-blown OTA.

Aloke takes us through Ixigo's unconventional journey, starting as a meta-search engine in 2007 that couldn't raise funding for over a year. We explore how the insight that 96% of Indians don't fly, led them to build a train-first platform, spending four years creating utility features without any monetization. He breaks down the technical innovation behind solving India-specific problems. Right from predicting waitlist confirmations using machine learning to creating a crowdsourced running status system using cell tower IDs when GPS and internet failed along railway tracks.

A central theme is resilience through empathy. Aloke shares how near-death experiences during the 2008 global financial crisis and COVID-19 shaped Ixigo's culture. We discuss the founder's decision to go to zero salary, the whiteboard moment where the entire team transparently decided on salary cuts, and the contrarian choice to proactively refund customers during COVID even when the company was running out of money. Finally, Aloke argues that peace of mind, not tickets, is what travel companies should really be selling.

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 veteran operator and former product head at Paytm, was the go-to source for his data-filled, analytical posts.

That same data-driven curiosity is what led Deepak to walk away from corporate life in 2019. He was clear: he didn't want to just manage; he had years left to actively "build products, you know, with my own hands". What he built was Indiagold, targeting the massive opportunity of gold in a market VCs often dismissed as an 'old economy product'.

In this episode, Rohin sat down with Deepak Abbot, co-founder of Indiagold, to discuss how they are transforming India's massive $1.5 trillion gold reserve—an asset often locked away and doing nothing—into a productive force. Deepak calls this gold a "dead asset" and explains that Indiagold’s mission is to change the mindset around it. They are not just giving gold loans; they are monetising a secured asset for the 250 million Indians who are excluded from formal credit due to thin or non-existent credit scores. By enabling customers to safely leverage their gold reserve, the company helps jumpstart a formal credit history and provides essential working capital.

Listen in as Deepak charts his operator-to-founder journey, shares how he navigated initial VC skepticism, and details the strategy behind turning a seemingly archaic commodity into a modern fintech solution for one of India’s most fundamental credit problems. Plus, a fascinating look inside a unique company culture, including why Indiagold operates without a CEO.

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This episode was mixed and mastered by Rajiv CN.

Write to us at fp@the-ken.com with your feedback, suggestions, and guests you would want to see on First Principles.

If you enjoyed this episode, please help us spread the word by sharing and gifting it to your friends and family.

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