Wrong/Ragebait-ish of a diagnosis by @ashleevance I’ve been a former VC across 3 different funds over the course of last few years, noting my observations: 1.⁠ ⁠A developing economy ‘earns’ its risk appetite. Capital follows exits, and India’s first real tech IPOs wave only came post 2020s. Most folks need some early validation before chasing the outlier feats like building rockets. Early venture ecosystem needs proof of outcomes for taking bolder bets and as been on the inside- i can vouch the fervour was never higher for deeptech. 2.⁠ ⁠But again, India doesn’t have to climb one rung at a time. China also built payments and consumers first, before unlocking deeptech innovations. About 10 years ago it was a 11T economy at 8k dollars per person. Today it’s 19.5T and rules in EVs, manufacturing, and even draws levels with the US frontier AI. India’s GDP/p today is about where China’s was in ’07 and will skyrocket from here. India leapfrog'd to UPI and 5G as well. 3.⁠ ⁠Investors, labs and industry barely were a tight circle until few years ago. Deep tech needs all 3 on the same page. IIT Madras built the Researchpark early and now we have 567 startups (worth 74,000 crore+). Ather and Agnikul are both IITMRP’s early outcomes. 4.⁠ Early proofs are already here. ⁠Indian Space-tech is already the proof. Skyroot flew India's 1st privately built rocket in ’22. Agnikul launched from India's first private launchpad in 2024, on a 3D-printed engine. Pixxel has 6 hyperspectral satellites in orbit. And defence-tech firm Tonbo Imaging just got IPO’ed. Ather, Ideaforge and so on the list is building fast. 5.⁠ ⁠The first wave becomes deep tech risk appetite. eBay bought PayPal in 2002. That year Musk started SpaceX. Thiel co-founded Palantir, then Founders Fund, which became an early backer of SpaceX, Anduril and Neuralink and many others. One exit -> a generation of moonshots. And we’re ON. Indian second time entreprenuers are taking moonshot attempts. Deepinder (Zomato) is building aircrafts. Neeraj (CoinDCX) is building reusable rockets. Agrani (AI chips) and Ultraviolette (electric motorcycles). Many $10Mns of stealth rounds in robotics, chips, AI labs have happened over the last few months. And yes, yes, the noise is loud too. We’re 1.4 billion people, a young ecosystem. Many won’t get funded, and you’ll hear about it. But India wouldn’t have to climb one wave at a time. We’ll skip the waves and we’ll land right in the moment. Extremely LONG on India and it becoming an epicentre of real innovation over the coming decade.