Hussein Kanji, founding partner at Hoxton Ventures: “There are three ingredients to building a company: a good idea, capital and people. Often all the problems of not scaling comes not from the idea or the capital, but from people. It’s usually not the founders but their inability to build and scale organisations. In this bull market, raising capital is easy. Building great teams is hard…Chapter one is around getting the product right and achieving product market fit. Chapter 2 is around selling and this chapter is four times longer than the first. Chapter three involves diversifying and building a platform to really scale the company.”
Ajay Shah: “Getting back to high growth in India requires freedom and state capacity. The regulators of today have power, bureaucracies, and intricate control that was unthinkable in 1991. Regulators in India achieve extreme power by combining legislative, executive and judicial powers. A substantial literature has demonstrated the failures of the work taking place in these organisations. Under conditions of low state capacity, regulation in India has often veered into central planning and control, enforcement has been selective and weak, and the actions of regulators raise concerns about the rule of law. An emerging Indian jurisprudence has started questioning the working of regulators and the checks and balances surrounding the powers of officials in regulatory agencies.”
James Madison in 1788: “Wherever the real power in a Government lies, there is the danger of oppression. In our Governments the real power lies in the majority of the Community, and the invasion of private rights is cheifly to be apprehended, not from acts of Government contrary to the sense of its constituents, but from acts in which the Government is the mere instrument of the major number of the constituents. This is a truth of great importance, but not yet sufficiently attended to….” [via CafeHayek]
