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Insightful Letter 17
October 8, 2020
Are you wealth driven or status driven?

Hi ,

How are you?

I hope everything is fine with you.

I need a favor from you.


I am writing these insightful letters for the last 4 months.

You might be reading my newsletters for quite a few time or you might be a new reader.

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https://joyexcel.com/jayabrata...


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Ok, let's discuss now today's main idea below.


 The Idea      

A few days back I was watching one of the interviews of Kunal Shah.


Kunal Shah is a well-known entrepreneur in India.

He is the founder of 'Freecharge' and 'CRED'.


I found one of his lines in an interview so fascinating that I kept thinking about that for a few days.  


He said- 'India is a status-driven country and  not a wealth-driven country.'


It's really a powerful line.

Think about it, basically, he says most people in India are not wealth seeking but status-seeking.


What you think, how true is that?


I think it is damn true. I am sure you think the same.


Most people here believe in competition (unhealthy type) and less in collaboration.

People become sad or envious when a neighbor or peer or relative gets ahead in life.


We are not accustomed to celebrate other people's successes.


We don't hear lines such as 'I help you become rich, you help me become rich, let's all become wealthy'

But we have heard lines such as 'if I can't get it, you should also not get it'.


Status-seeking was extremely useful at earlier times when humans didn't have enough resources. 


Competing with other people for status and power brought many benefits, including access to food, mates, resources, and the protection of other group members.


But status consideration is no longer critical for living a good life, but our brains developed a very high priority on social status.



Do you know why there is an extreme hype about Sarkari Naukri in India?


Yes, there are many reasons, but a core reason is the status-seeking mentality of people. People believe they can increase their status by getting a sarkari naukri.


The lavish marriages in India are another proof of status-seeking mentality. The bigger the marriage, the more the status.


A furniture company once did an interesting survey in India. 

They found that people in India spend way more money in their living room than their bedroom or bathroom.


Again the reason perhaps is that most people want to showcase how much they have spent in decorating the living room.

Guests do not usually visit the bedroom or bathroom so it's ok to not decorate those that much.


The core reason taught to most of us is that other people must be happy with ourselves. Somehow in our lives, other people become more important than our individual personality.


Of course, we should care about other people's suggestions and advice but not at the cost of our own satisfaction and preferences.


I am sure at least the new generation of India is wealth-driven where people help each other to grow instead of becoming envious of each other.



Remember the quote by Rumi-


"What you seek is seeking you"


If you are status-seeking, you will never have enough, but if you are wealth-driven then you might live a worthwhile life and leave a legacy behind. 



  

Book/article recommendation

 

Personal MBA by Josh Kaufman

Have you always wanted to get all the knowledge of business schools without taking admission to a business school?

Now you can. Josh Kaufman has poured all his knowledge of business schools and other business books in this wonderful book.

You will also get a good idea about human motivation and why people are still status-seeking in the 21st century.

Do read this book.

One video suggestion


I watch this TED talk very often. Every time it reminds me to live my life in a better way. I am sure you will get a lot of insights from this video.

The title of the video is 'There is more to life than being happy'.


One quote

"True wealth is not measured in money, status, or power. It is measured in the legacy we leave behind for those we love and those we inspire."

                                  

                                                                                  -Cesar Chavez
                                                                                              

                                                                              

This week I have written about an extremely important topic of today's time. The rise of fake online gurus who want to deceive you by taking your hard-earned money. 

Read the article to know about how you can identify the real mentors from the fake ones

October 4 , 2020
The Upsurge of Fake Online Gurus: How to Avoid Falling in Their Trap


Read the full article


If you have anything to say or ask, just reply to this mail. I will respond.


Until next week,

           Joy

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Jayabrata Das

IIT Bombay, Powai, Mumbai
India

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