Episódios
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In this special episode, hosts Snigdha Sharma and Rahel Philipose are joined by Soumya Rajan, founder and CEO of Waterfield Advisors, India’s largest multi-family office and wealth advisory firm. The conversation begins with a simple but important question: what does financial empowerment actually mean for women with wealth?
Over her decades in the world of wealth management, Soumya began noticing a consistent blind spot—traditional financial systems weren’t designed with women’s realities in mind. Even wealth advisory firms, she found, were falling short. That led her to launch HERitage, a specialized arm within Waterfield, focused on serving the financial needs of women more intentionally and effectively.
Soumya explains a framework she developed called T.O.U.C.H to outline how women tend to invest differently from men: they trade less, invest with clear goals, prioritize sustainability, and are more conscious and diversified in their approach. These patterns aren’t just preferences, they reflect a fundamentally different way of thinking about money.
The episode also draws on insights from Waterfield’s Women of Wealth survey, which looked at the investment behaviors of over 100 high-net-worth Indian women. The findings challenge a lot of conventional thinking: women are deliberate and strategic investors, but they still face barriers when it comes to financial literacy, access, and decision-making power.
Soumya also talks about how women in India are creating wealth—whether through inheritance, entrepreneurship, or leadership roles in corporate India—and how they’re using that wealth not just for security, but for impact. The conversation touches on growing trends in philanthropy, interest in global markets, and the rise of “passion investments” in areas like art, wellness, and legacy building.
Tune in
Soumya recommends —
TV Show: Lioness
Book: The OutsidersTell us what you thought of this episode. You can text us your feedback on WhatsApp at +918971108379. You can also write to us at [email protected]
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Electric two-wheeler maker, Ather Energy, listed on the bourses on earlier in May, but its IPO was subscribed just 1.4X—a modest showing for a company once seen as a premium EV pioneer. The lukewarm response reflected investor fatigue, sparked by Ola Electric’s volatile stock performance, the Blusmart funding controversy, and global supply chain headwinds. Despite a strong product portfolio and a reputation for in-house innovation, Ather faces an increasingly crowded market and mounting pressure to scale.
IPO proceeds will fund a new manufacturing plant in Maharashtra, expanded R&D, and marketing—moves aimed at boosting capacity and competitiveness.
Yet, with subsidies shrinking and profitability still out of reach, Ather’s long-term success hinges on its ability to grow sustainably, reduce costs, and prove it’s more than just another EV startup riding a fading wave.
Tune in.
P.S The Ken’s podcast team is hiring! Here’s what we’re looking for.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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Pyng, launched on 15 April, is quite a departure from Swiggy’s core food-focused business. The service marketplace, uncharted territory for Swiggy, is offering services of “verified professionals” (think therapists, chartered accountants, and even energy healers).
No, it’s not a modified version of Urban Company. At least, not yet. For one, the latter offers standardised services comprising blue collar workers.
But why exactly is Swiggy, a company with a market capitalisation of over Rs 80,000 crore, diversifying its business?
Tune in.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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The landscape is pretty bleak. In the race to produce more Ivy League-worthy students, Indian schools are selectively opting to teach IB. Teachers, in turn, find themselves shifting between the Cambridge and IB syllabi, often trying out things they aren’t trained for. Students and parents, meanwhile, are running in circles trying to find an able tutor after spending Rs 5–20 lakh on their child’s education. It helps no one that there are just a handful of dedicated, IB-trained teachers in the whole of India who can help students with the demanding curriculum.
Enter Sparkl Edventure.
With Sparkl, the former CEO of Aakash Institute is betting on these schools' inadequacies and our obsession with private tutoring.Tune in.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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When Rohan, a 35-year-old software engineer, signed up for a Rs 1 trial on a learning app called Seekho, he thought he had nothing to lose. He cancelled the subscription within weeks but money was still being deducted from his account months later.
UPI Autopay, the rising star of India’s subscription economy is quietly letting apps to keep charging users long after they think they've cancelled.
From overlooked SMS alerts to sneaky terms hidden in fine print, we find out how widespread this problem really is and why so many users are only waking up to it now.
Tune in.
P.S The Ken’s podcast team is hiring! Here’s what we’re looking for.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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Nearly a decade ago, Hotstar, Netflix, and Amazon Prime entered the scene and positioned themselves as the anti-TV. No fixed showtimes. No endless ad breaks. No re-runs you had to sit through just because nothing else was on. For the first time, we were in control. TV became personal. It became on-demand. And best of all—it was ad-free. It felt like there was no going back.
But now something has shifted. Subscriber growth is stalling, and that’s making streaming platforms nervous. Really nervous. Their answer? Bring back ads. Amazon Prime Video is the latest to jump into India’s ad-supported streaming game, also called ad supported video on demand or AVOD. And Netflix? It’s reportedly toying with the idea of a free, ad-supported tier here—just like it’s doing in a few other markets. In other words, OTT is starting to look a lot more like the very thing it was supposed to replaceHave we come full circle? Or is this just the natural evolution of an industry growing up? Daybreak hosts Snigdha and Rahel speak to Swati Mohan, the former head of marketing at Netflix India, to find out
Tune in.
P.S The Ken’s podcast team is hiring! Here’s what we’re looking for.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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Back in 2016, the Internet and Mobile Association of India set up an all new club for what was then a very small cohort of digital leaders in corporate India. It was called the all-India Chief Digital Officer club.
Back then, there were only about five-six CDOs that were members. The point of the initiative was to give legitimacy to this new, emerging role. But soon enough, the initiative fizzled out. Not because the role didn’t take off or anything. Actually, the opposite. The initiative became redundant because the role became even more popular than they had anticipated. So it started with 5-6 members, but within the next four years its membership rose to 50 and then doubled the next year.
You see, digital transformation has become THE buzzword for corporate India. And in the process, the CDO has become part of the companies top leadership.
But the question is — where does that leave the CIO?
Tune in.
*This episode was originally published on 18 December, 2024
P.S The Ken’s podcast team is hiring! Here’s what we’re looking for.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.Listen to the latest episode of Two by Two here
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For decades, the whole process of getting a loan approved was infamously painful and long winded. But now things have changed. Getting a loan is a whole lot faster than before. And that’s because of the disruptor to end all disruptors — artificial intelligence.
A bunch of companies have entered the scene with specalised AI tools to speed up different aspects of the loan-approval process. In fact, Indian AI startups have managed to raise nearly 750 million USD in 2024 and the banking and financial sector was one of the top drivers of this growth.
Now at first glance, it seems like a win-win for both the borrower and the bank. But there’s a catch. This surge has come with a lot of scrutiny from the RBI.
Tune in.
*This episode was first published on Jan 15, 2025
Tell us what you thought of this episode. You can text us your feedback on WhatsApp at +918971108379Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Family offices—the ultra-rich who used to hand over their money to VCs and wish them well—are now wondering why they ever bothered. Why did they pay someone to do what they could do themselves, on their terms?
Their primary gripe? The funds are not returning money.
Of course, the so-called middlemen in this scenario aren't too pleased. After all, they are losing a substantial amount of business in the process.
But it all boils down to one thing – who’s running the money.
Tune in.Daybreak is looking for a talented audio journalist with at least two years of experience. Check out the role here.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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At first glance, things seem to be really looking up for India’s very own budget-friendly hotel chain Oyo. It’s had some pretty big wins in the last few months.
So why then is its eventual IPO still the subject of such widespread speculation?
The Ken's Deputy Editor Seetharaman G put it quite well in the latest edition of his newsletter on the Indian stock market, ‘Long and Short’. He said – ‘few companies are as good as Oyo Hotels at not going public’.
Its listing has been a few years in the making. It first filed in 2021. Then again in 2023. And then it was just about to give the share sale another shot when its largest shareholder, Softbank, threw a spanner in the works.
Here's the thing — between the delayed IPO, top notch rivals, and demanding investors, things will only get harder for Oyo.
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Just two days after the Pahalgam terror attack, alarm bells went off inside India’s financial system. A stern message from an HDFC Bank executive summed up the mood: “They may come for us now.”
The national security tragedy triggered a sudden and sweeping crackdown on India’s digital payments ecosystem. Behind closed doors in Delhi, top officials from the Finance Ministry, Home Affairs, and the Reserve Bank of India launched a coordinated push to track suspicious merchant activity online like gambling, betting, drug trafficking. The idea was to follow the money all the way to its possible links with terror funding.
The fallout? Payment aggregators are scrambling, banks are under intense pressure, and merchant screening firms are suddenly flooded with work. Everyone’s rechecking everything.
But who's the collateral damage?
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Zara and Tata’s retail arm, Trent, have been partners for 15 years. But that relationship might be coming to an end because Zara’s not pulling its weight anymore. Its share of Trent’s overall sales has dropped from 28% to just 10% in six years. Its rivals like H&M and Uniqlo have moved faster, reached more cities in a much shorter time span.
Meanwhile, Trent’s been busy. It used what it learned from Zara and built something better. Zudio, its budget fashion brand, just hit $1 billion in sales in FY25. It’s fast, affordable, and everywhere. Now, Trent’s planning to upgrade Westside into a premium brand to go head-to-head with Zara and H&M.
How Zara lost its edge and what did Trent get right?Tune in to find out.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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One clear sign that Angel One—India’s third-largest discount broker—is serious about reversing its fortunes is that it bought itself a front-row seat at India’s most expensive distraction: the Indian Premier League.
That’s ambitious. Especially for a company that just flunked its latest earnings test.
Between fiscal year 2020 and 2024, Angel One proudly nuked its full-service past—no more phone calls, no more reports, no more advisers—and became a pure-play discount broker. Just an app, an order button, and some notifications. When the markets were roaring, that was enough.
But now, not quite. Enter Plan B: be a super-app.
Tune in.
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Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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In March this year, a software developer that goes by Pea Bee online published a blog rather ominously titled ‘Everyone knows all the apps on your phone’.
He found that several Indian app-based startups are flouting rules of Google Play—Android’s app store—to access people’s data. In particular, some apps use a workaround to scrutinise the names and usage patterns of other apps on people’s phones. In real time.Now, the fact that apps have a lot of your data may not be a surprise to you. We’ve been pretty cavalier about our data for some time now. Remember Digi Yatra?
But the scary thing is that Indian companies are equally nonchalant about the user data they collect. The result? Data-security breaches have been on the rise.
So what is a data conscious Indian customer to do?
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Physics Wallah’s brand new initiative, the PW Institute of Innovation, was pitched as an alternative to the tough IIT route that didn’t compromise on quality or career prospects. It even came with a scholarship, a residential campus in Bengaluru, and a shot at a good job after graduation. On paper, it looked like the perfect deal.However, students who signed up had to juggle a confusing mix of courses, keep up with a changing curriculum, and struggle through administrative chaos. Even basic things like internships, placement support, and faculty consistency didn’t materialise the way they were promised.
For a company known for making quality education affordable, this was a far cry from its coaching roots.
But Physics Wallah isn’t just running an institute anymore, it’s a company preparing for the stock market.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Eyestem, a 14-member biotech startup from Bengaluru is turning heads in global pharma circles. With just $10 million and a modest 1,200 sq ft office, it has developed a promising cell therapy for dry age-related macular degeneration (AMD)—a condition that leads to blindness and has no cure. Early trial results are not only encouraging, they’re outperforming billion-dollar competitors in the West.
But this isn’t just about scientific innovation. It’s about doing more with less. Eyestem’s founders set out with a bold goal: to build a cutting-edge treatment that’s actually affordable, especially for Indian patients. Think world-class therapy in under $10,000. In the current world of cell and gene therapies, where treatments often cost hundreds of thousands of dollars and remain out of reach for most, it is next to impossible.
How did Eyestem achieve this and what does this means for the future of biotech in India?
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Nagpur-based Counter Cyclical Investments doesn’t waste time with handholding. The six-year-old firm has a reputation for being quite cut and dry with its clients.
Consider some gems from the ‘who should invest with us’ long-list. “Those who won’t disturb us by calling us for reassurance everytime the market falls.” “We don’t have any provision for a relationship manager. Once you have taken an informed decision to invest in our PMS, please avoid calling us. Those who are looking for regular correspondence and active interaction, may please stay away.”
Now, if you think moneyed investors—the kind who have to put in at least Rs 50 lakh to be a part of Counter Cyclical—are put off by the insolence, you’re wrong. Counter Cyclical’s assets under management have shot up over 10X in the past three years, and its customer count has grown by leaps and bounds.
Why? The only scheme—a small-cap one —run by the six-year-old fund house is a chart-topper with five year annualised returns of, believe-it-or-not, 78%.
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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Four months ago, food delivery giant Zomato decided to run an experiment. If you are a regular patron of the app, you may have noticed a tab called ‘Quick’ appear, that promised 15-minute deliveries in a bunch of metropolitan cities like Bangalore, Mumbai and Delhi NCR.
Now, the company’s founder and CEO made an interesting statement last year that explains why it would choose to try out this experiment. He was asked a question about how quick commerce has changed customer expectations around food delivery. And he said, quite simply – “Blinkit is fast, but that has made Zomato seem slow.”
He has a point. You may recall that Zomato subsidiary Blinkit launched its in-house 10-minute snack delivery service called Bistro last year, just one day after the very popular Zepto cafe was launched. Swiggy Instamart meanwhile, launched a similar service called Snacc.
In many ways, 2024 was the year 10-minute food delivery became the next frontier of quick commerce.
Naturally, the biggest food delivery giants in the country did not want to be left behind. So while Zomato launched Quick, Swiggy rolled out its own ultra-fast delivery service, Bolt.
But here’s where things get interesting. While announcing its Q4 results last week, Zomato announced that its four-month experiment was very quickly coming to an end. In a letter to shareholders, Deepinder Goyal explained that they just could not see a path to profitability without compromising on customer experience.
The Ken's COO and the host of Two by Two Praveen Gopal Krishnan explains what changed.
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Thanks to AI, economic disruptions, mass layoffs, and a bunch of other fun things, the 40-year career is no longer something you can take for granted. And that fundamentally changes the nature of our careers. No one embodies that change more than the Gen Z workforce.
Young employees are now seeking a job, not a career. They don't join organisations to retire from them. Instead they see them merely as a step along the way.
Which is why, the most rigid companies, known for being forts of loyalists, are loosening up to accommodate the needs of younger generations.Tune in.
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Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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The world’s “most respected” test of school education—the Programme for International Student Assessment or PISA—began this March. 90 countries are on the list including China, Vietnam and some of the poorest nations in the world. But India? We’re sitting this one out. In fact, India hasn’t touched PISA in 16 years!
The last time it did, in 2009, India ranked 72nd out of 73 countries. Only Kyrgyzstan did worse. Ever since, the country has been quietly working behind the scenes to fix its education system through a slow and steady effort to modernise how students are tested. The government set up Parakh, an ambitious body under NCERT, to bring all of India’s 69 school boards on the same level and align with global standards.
But can a country as huge and diverse as India really move away from rote learning to a system that values real-world problem solving and critical thinking?
Tune in.
If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
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