We're a growth-oriented company and our model is intrinsically scalable.
As of now we're in three cities.
Noida, Delhi and Gurgaon.
But very soon, we'll be in at least 20 more cities.
FIVE QUESTIONS
Right now our burn rate is a little high.
We don't project to be profitable for the next two years.
As you all know, that's fairly common in e-commerce startups
It's fairly common.
Ritesh.
Ritesh, what do you think?
It's okay, sir.
Just okay?
Would you like to add to that?
Yes, Ritesh.
We would love to hear your opinion.
You've spotted many start-ups
that turned out to be unicorns.
What do you think of our idea?
This is clearly a game changer.
I mean, this sector is booming
and you guys have the early bird advantage.
Absolutely.
This could be the next big thing.
No wonder, every VC firm wants to invest in you guys.
One sec... One sec...
I'd like to hear it from Ritesh himself.
What do you think?
Do you think there's any merit in this idea?
Ritesh, are you okay?
- Like you people were saying... - It's crap, sir.
Excuse me!
It's a really shitty idea. It's exactly like the
last 10 start-ups that we've invested in.
They are all useless, unimaginative and will be redundant very soon
because they're solving non-existent problems!
They're not adding any real value to the society.
They just want to fool people and make money
and of course we'll help them because we're in it for profits!
Right?
So we and all the subsequent investors
will unnecessarily hype this start-up
and bloat its valuation so that we can
have a bloody good exit and make lots of profit.
All of us in this room know that these guys are bound to fail,
like so many others.
But who will end up suffering?
The common man. They'll lose their jobs,
they'll lose their money, but who cares!
Let's make them a unicorn first.
A unicorn!
How many of these unicorns are actually successful companies?
How many of these unicorns are actually a TATA
or an Infosys?
"Ritesh, we really want to know what you think."
Go back two slides.
You're counting Delhi, Noida and Gurgaon as 3 separate cities
and expect a valuation in crores?
First validate your idea in various markets.
Burning through investors' money just to show false numbers doesn't make a company successful.
You have to create real value,
that's when lives truly change.
Sir, what's the point of talking with these kids?
Our whole start-up ecosystem is rigged.
It's for the investors to make money.
It's not to create successful companies. And unless this doesn't change,
useless startups like these will keep popping up
and we'll keep getting screwed over.
And that's my opinion, sir.
Excuse me.
Here's your drink.
Cheers.
Batra was shooting daggers at you through his eyes!
You almost lost your job today.
Big deal. I don't give a f**k.
I'm sick of this terrible job.
Terrible job? You're the star of the start-up world.
Huge deals are signed based on your suggestions.
What you make in a year, is way more than
people's lifetime savings.
Great. I did it all, became a star, made the money.
But I can't keep doing this forever.
What's your plan?
I don't know.
Really?
All I know is I want to do something meaningful, not just grand.
Something that will usher in a change in society.
Something to make a real, tangible impact
and not just dole out fake projections.
These very "fake projections" get you the moolah.
You're a money-magnet.
Don't downgrade yourself.
All right, what's on your mind?
Have you chalked out a plan?
Then?
Bro, if there's anything this job has taught me
it takes great planning
even to dupe people!
But, you intend to do 'meaningful' work
So plan!
While you're at it,
check this out.
- What's this? - Batra's dictate.
You scared those boys away
so Batra is miffed.
But he's giving you another chance, given your track record.
There's a teacher in Jaipur.
He coaches engineering and medical aspirants
He commands a massive following both online and offline.
Batra has been pursuing him for 6 months
to make him the biggest unicorn of EdTech.
But he just won't fold.
Go there.
Work your magic, get him on board.
Alright?
Go through the file and the presentation.
Leave for Jaipur tomorrow morning.
Good night.
Good morning, rebel. On your way to Jaipur?
I'm just about to get there.
Amazing.
Where exactly is the institute in Jaipur?
Didn't you read the file? It has all the details.
Do you have a problem filling me in?
I don't know it by heart. Check the file.
Please read it once.
Everyone else is after us for funding
but we're the ones trying to persuade him to accept funds.
And you're taking this lightly?
Are the results out?
Dimwit, your clock's running slow
It's 08:05 already. Hurry and check.
Everything in his house runs slow,
his clock, his internet, even his brain.
Your roll number, Ritesh.
- Why mine? - Let's start with some good news.
Then our results will be positive too.
What if it's bad news?
How bad can it be in your case?
Even if you're not in the top 100, you'll get selected for sure.
Give me your roll number.
546021
Not selected?
Maybe you got the roll number wrong. Check again.
546021.
Merchant Navy?
Did you speak to your parents about this?
We did, sir.
There's nothing left for us on land anymore.
We need to dive into oblivion.
Why?
- What's the harm in taking a drop year? - What's the point, Dad?
For the last 2 years,
all we did was study, from dawn till dusk.
Skipped playing, skipped movies and still didn't make the cut.
What's the point of wasting another year of our time and money?
It won't change anything.
- Looks like IIT just isn't written in our destiny. - Destiny?
I taught you math,
not astrology!
This is your JEE score card.
You missed the cut-off by one mark
in chemistry.
Math - 52/60
Physics - 40
Chemistry.
13. The cut-off was 14.
You were always weak in chemistry.
Your paper didn't go well either.
Just one mark more,
and you would have had a score of 106/180.
Your rank would have been in the top 500.
Do you get it?
You both should check your score cards too when you get home.
I'm pretty sure
you would have also missed by a mark or two.
I've been your teacher for the past four years.
I know you can crack IIT.
Just one mark, Ritesh.
What's the probability of that happening again, son?
Go to Kota.
Change will do you good.
Prepare well for another year.
This time around, you'll make it for sure.
You guys are late.
The batches for 13th started last month.
What batch?
13th.
Are you in 13th or 11th class?
No, 13th.
The decision to try again took some time.
Please help us, sir.
Can you try another batch?
Impossible, sir. All batches are overloaded.
The place is crammed.
Let alone students, teachers can barely enter!
It doesn't look like you're in a hurry.
Enjoy this year and come back next year for 14th batch.
What do you mean?
- Are we here to kill time? - It does look like that.
Easy, Ritesh
How can you be so polite to him?
He's fooling around while our future's at stake.
In that case you should've come earlier like other students.
Don't assume we can't crack JEE because of the delay.
This is not the only institute in Kota.
You're free to leave and go elsewhere.
- Who's stopping you?! - Sure, we will. - Keep your voice down!
What's going on here?
The boys worked really hard, sir.
They lost hope because they weren't selected.
I convinced them with great difficulty.
I understand.
It's not an easy decision to drop a year.
Sir,
- if you could help with the admission. - Sure.
- But they'll have to take a test. - We'll take it, sir.
Right away.
- Now? - Yes.
Okay.
That's a huge house.
But it has only 8 rooms.
4 downstairs and 4 above.
My son lives downstairs with his family.
My wife and I live in a room upstairs.
Two rooms have been rented out.
That leaves only one room.
This one.
Hope the three of you will adjust in one room.
No, uncle. We won't be living here.
Both of us have already booked a room at Agarwal Hostel.
- Agarwal? - Yes.
That's expensive.
What's the rent there?
How much will you charge?
Hardly anything.
This is the cheapest lodging in this area.
Just 1700.
1700 for this room?
Why? Is it too less?
Huh?
Should I increase it?
I'll give you a discount
if you pay for 2 years upfront.
We just want it for one year.
Why? Is he in 12th grade?
No, uncle. 13th.
13th?
What happened, uncle?
We don't lease out to students in 13th.
You don't?
Why?
They hardly get through the JEE
and in turn our reputation suffers.
Then we don't find tenants.
- Ritesh... - And God forbid,
if depression drives them to end their life...
I'll be in serious trouble.
My PG will be shut down for good.
It's too risky.
I understand,
but you needn't worry about the results.
Yes, uncle. Ritesh is a genius.
He'll definitely crack the exam.
- Yes, uncle. - Listen, son.
If he was that good, he'd have cleared it already.
He wouldn't be in 13th.
Goodbye.
Uncle...
Need a room?
If you don't mind me saying,
I can get you that room.
Grandpa never refuses me anything.
But on one condition.
What?
You must eat at my mom's mess.
Deal.
We'll come too.
That's three customers.
Fine.
The room is yours.
Advance.
- Yes. - Uncle...
Thank you so much.
Alright then.
What happened? Can't think of insults?
- What are our results? - Say something.
The three of you have been selected.
In the A1 batch.
You've scored 65%.
You, 72%.
And Ritesh, you've scored 96%.
Welcome to Chabra Classes!
Here's your schedule.
Bravo, Ritesh. I didn't know you were a brainiac.
Sorry about yesterday.
Please apologise to your dad on my behalf.
He's not here today?
He went back home.
But, I'll tell him.
Great. Your first math class is at 10.
With MT sir. Get going.
Hurry.
What happened, Ritesh? Let's go.
Let's go, we're late.
Good morning, kids.
Good morning, sir.
- How are you all? - Very good.
- How's the preparation going? - On track, sir.
You joined today!
- Yes, sir. - Good.
Where is the third musketeer?
I heard he blew the test to smithereens.
He got 95%.
Sir, 96.
96... Superb.
Where is he?
Actually, sir...
Tummy troubles?
It tends to happen when one moves to Kota for the first time.
No, sir. He's fine.
Sir, he won't attend math classes.
He won't?
- No. - Why?
Because he knows everything.
Shut up.
Actually, sir, he missed the cut-off by one mark in chemistry.
He scored really well in math and physics.
So he said he'll
only take chemistry classes.
I see.
Why did you have to say that?
Ask him to meet me.
- Okay? - Yes, sir.
Mathematics is the language of science.
If you want to do well in Science,
you will have to be good at Math.
And this chapter of Math, is not only a science,
but is also very useful to us in our day-to-day life:'Probability'.
We can call it the slang of this language.
So, let's dive into the world of 'Probability'.
Amazing, sir. Even after 20 years, you still teach with the same enthusiasm.
Really? Did my energy feel the same?
I hoped it would be more!
Quality should improve with experience.
It's top-notch, just as it always was.
How do you do it? Don't you get bored of teaching the same thing over and over again?
Bored of teaching?
I love it.
When you love what you do,
boredom can never set in.
Take Sachin for example.
He's been playing cricket since childhood.
He's still associated with the game.
True, sir.
But Sachin always faced new challenges,
like Murlidharan, McGrath, Shoaib Akhtar.
Teaching is no different.
Each class has new kids, bringing new challenges.
Some are fast like Shoaib Akhtar and need to be restrained.
Some ask tough questions,
like Murlidharan,
so I have to be prepared.
And every now and then, a batch produces a McGrath
whose perfect out swingers just manage to find the edge.
So there's no scope for boredom.
Anyway,
what brings you to Jaipur?
When all their methods failed
they sent my ex-student to convince me?
Sir, they didn't know I was your student.
In fact, even I didn't know it was you I was meeting.
It was just a coincidence.
And rather a lucky one for me.
I won't call it lucky.
If you can't convince me,
you'll lose your job.
- That's it? - Yes.
In that case, you'll definitely lose your job.
It's impossible to convince him.
Don't underestimate his abilities.
Maybe he can pull off what you can't.
Is it? Let's see.
Why not?
Ritesh, is the pitch ready?
Sir, I've been doing this for 10 years.
I'm always ready with my pitch.
Shoot.
Now?
- Sure. - Let him finish eating.
That can wait.
The food isn't all that tasty anyway.
C'mon, Ritesh. Let's start.
Sir, I know what you're thinking.
Why do you need funding?
Sir, funding to a start-up at the right stage
is like the thrust a rocket needs at the appropriate time
to launch a satellite into the right orbit.
So, the timing and the amount of thrust are very important.
And we believe Competishun is at that threshold where
a strategic partnership with us
can blow up in a big way.
You teach
1286 students in your classes.
Your YouTube has
6,85,029 subscribers,
which means you've
created a student base that trusts you.
But now it's time
to take these numbers to the next level... exponentially.
How will we do that?
Through marketing.
With enough funds, you can hire a big marketing agency,
a big sales team, a branding agency.
We'll create a nationwide campaign,
radio, television, digital, Facebook, Instagram,
everywhere Competishun will be visible.
Word will spread far and wide.
Marketing might bring in the students,
but how will we retain them?
My core team and I can't teach them all.
We know, sir, which is where funding will help you again.
You can hire more people and new teachers too.
But how will we ensure quality?
Very few teachers can produce results.
Procuring many amazing teachers
for so many students is impossible.
Sir, don't worry about results.
Let's say, if you teach 100,000 kids,
at least 400-500 of them will definitely be selected.
Right?
Which is a good number.
That means, a success ratio of 0.5%
That's good?
On an absolute scale, maybe not.
But it's not bad compared to other EdTech companies.
Remember when you came to study at Chabra Classes in Kota?
Do you know what their success ratio was?
Close to 30%.
That means every third student,
or simply put,
one student from each bench
was definitely going to get into IIT.
Without any advertisement
or a sales team.
Which is why, even from your small hometown of Bhilai,
over a thousand kilometers away from Kota,
you knew about Chabra Classes.
That's the most effective way of marketing.
When our results speak, we don't need to.
You're right, sir.
But where is Chabra Classes today?
Forget Chabra Classes,
what happened to all those coaching institutes from back then?
This is the digital age.
All other EdTech companies are bombarding their students with cold calls.
In such a scenario, it's impossible to grow without marketing.
He's right, Mohit.
EdTech companies are all over the TV and newspapers.
Famous celebrities endorse them too.
Their names are even on the jerseys of the Indian cricket team.
Right.
How will you compete without aggressive marketing?
I'm not against marketing.
Nor do I mind raising funds.
But it should be targeted.
What's the point of luring kids
by making a celebrity dance.
I don't want to sell false hopes and dreams. Even if it means incurring losses.
Not every child wants to be an engineer,
so he shouldn't be forced to study engineering.
Calling parents
and telling them that their child can definitely be an engineer
if he studies at my institute is wrong.
I don't want to teach 100,000 students.
I'm fine with 10,000.
There are many kids in this country
who can't find quality education.
I want to reach them.
I want funds for that,
not to dupe people.
Sir, you have a noble vision
but it's not investable.
EdTech is all about scalability.
If you won't scale up, nobody will invest in the growth of your company.
To reach those 10,000 students,
you will have to invite 100,000 other students.
That's what all EdTech companies do.
That's the way.
Maybe the only way.
Ritesh,
do you recall the 5 questions?
So, what's the problem?
Your friends said you won't attend math classes.
Sir, you know Naveen Buddhiraja?
AIR 1, 1984.
He was my father's student.
My dad has coached many toppers.
In fact, in my last attempt, I scored almost full marks in math.
So I'm really good at it. It's in my blood.
I don't think you can teach me anything I don't know.
I mean no disrespect, sir. But I think it's a waste of my time.
And I need to utilise every minute judiciously.
I'm sure you're good at it.
And you're right about making good use of your time.
I like your confidence.
But, Ritesh, knowledge has no limits.
The more you know, the more you will realise how much you don't know.
- You must always aspire to know more. - I know, sir.
Here are 5 questions.
If you solve them all,
I'll let you skip my classes.
- But if even one question remains unsolved... - Done, sir.
I'll solve it all before your class tomorrow morning.
Good.
- All the best. - Thank you, sir. You too.
Good morning.
Good morning, sir.
Ritesh?
Alright,
were you able to solve all the differentiation questions in yesterday's DPP?
Yes, sir.
Solved them all?
You didn't attend the class today
so I'm assuming you did.
I solved them all,
except the last one.
I was at it all night but couldn't crack it.
I don't know where I went wrong. Can you give me the solution?
You'll need to attend my class for that.
I'll do that, but I want the solution now.
Sorry, Ritesh. A deal is a deal.
I solved four of them, I just need the solution to the fifth...
You lost the challenge.
You'll have the solution when you attend my class.
Sir...
Ritesh.
I knew you'd solve the first 4 questions
but not the 5th one,
because you'll have to put your ego aside for it.
And that's not easy.
In fact, not just you, most bright kids
get stuck on this very question.
And the problem is there is no glory
in completing 90% of the race.
One can only win by finishing the race.
And that last lap is always the toughest.
The most difficult part.
Just like this 5th question.
Always remember,
never settle for the first four.
Always try to solve that 5th question,
because it's that 5th question,
which separates the best from the rest.
Hello.
Hello, Ritesh. Are you back?
No, sir.
- I'm on my way. - Okay, is the deal done?
Hello?
Hello...
Ritesh?
- Ritesh? - I'm here, sir.
I asked if the deal is done.
Is Mohit Tyagi in?
May I come in, sir?
You're late today.
- Sorry sir. - Come in.
Where is he?
So that concludes our lecture series on Determinants
and Matrices.
It's an important topic for JEE
and I hope you understood this.
In the next lecture, we will start with Continuity
and Differentiability.
See you in the next lecture.
Hello.
I finally understood sir.
What?
The point of the 5 questions.
I pondered over your vision and the 5 questions all night.
But now I understand what you meant.
You're doing the same thing, sir.
What am I doing?
You're still trying to solve that 5th question.
Your vision is not wrong,
it's different from the other EdTech companies
because they're still solving the easy 4 questions.
The tough part is solving the 5th question,
deciphering it and taking on the challenge
to do good for real. Without pretence.
Without being selfish.
I'm done with that life, sir.
Not anymore.
I want to run this last leg of the race with you.
I really want to bring
some real, tangible change in society.
And how do you plan to do that?
Sir, to know that, you'll have to step outside.
I couldn't go back to that fake world.
Ritesh, I asked if the deal is done.
Is Mohit Tyagi in?
No, sir. He's not.
And guess what?
Even I'm out.
What?
Yes, sir. I quit.
You can't be serious, Ritesh. You can't do that.
I...
I want to work with you.
I want to turn your vision into reality.
Can I join you please?
May I come in, sir?
Come in.