INDxECON

Dr. Gagandeep Kang on Virology, COVID-19, and Public Health Policy

The Inductive Economy — Sun, 13 Oct 2024 16:39:09 GMT

Introduction

“What is the cause of disease in India and what can we do about it?”

In this episode, I have the privilege of speaking with Dr. Gagandeep Kang, a trailblazer in the field of clinical research, whose work has left an indelible mark on global health. As the first Indian woman to be elected to the Royal Society, Dr. Kang has spent decades advancing vaccine development, particularly her groundbreaking efforts on the rotavirus vaccine, which has saved countless lives. Her expertise spans the complexities of infectious diseases, community engagement, and the critical intersection of science and public trust.

The conversation delves into her early motivations, the role of mentors who shaped her career, and the pivotal research she conducted in the fight against diseases like rotavirus and COVID-19. Dr. Kang’s insights on clinical trials, the balance of risk and innovation, and the lessons learned from navigating large-scale public health emergencies provide a window into the rigor and dedication that drive her work. Moreover, she reflects on India’s healthcare response during the pandemic and offers practical advice for the next generation of researchers in a post-COVID world.

In an era where the integrity of science has never been more essential, Dr. Kang’s perspective is both a call to action and a source of inspiration. Her reflections on policy changes, the evolving role of technology in healthcare, and her new position at the Bill & Melinda Gates Foundation highlight the ways in which India—and the world—can better prepare for future health challenges.

This episode is a must-listen for anyone interested in the future of medical research, the role of trust in science, and how we can build a more resilient and informed healthcare system.

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Selected Links

People Mentioned

Dr. Mary K. Estes

Dr. B. V. Venkatar Prasad

Jonas Salk

Ideas & Other References Mentioned

Public Health in India

Christian Medical College, Vellore

Institute for Liver and Biliary Sciences

Wellcome Trust

Rotavirus

Viral Gastroenteritis

Bacteriology

Epidemiology

Dr. Gagandeep Kang’s AIIMS Bhubhaneshwar TEDx Talk

Animal Models

Global Public Attitudes About Clinical Research and Patient Experiences With Clinical Trials

Controlled Human Infection Models

Translational Health Science and Technology Institute

Covishield

Serum Institute of India

Electronic Vaccine Intelligence Network

COVID - Beta Variant

COVID - Omicron Variant

Bill & Melinda Gates Foundation

Integrated Disease Surveillance Program

National Center for Disease Control

Absortive Capacity

Time Stamps

00:00 - 00:14 - Theme

00:14 - 02:42 - On pursuing a career in Clinical Research

02:43 - 06:25 - On Mentors and Influences

06:26 - 08:25 - On Dr. Mary K. Estes

08:36 - 11:10 - On the early work on Rotavirus

11:11 - 23:46 - On Clinical Research and Building Trust with Communities

23:47 - 39:18 - The Problems of overanalysing Statistical Anomalies during Clinical Trials

39:19 - 44:02 - The Myth of Risk-Free Innovation

44:03 - 48:22 - On COVID-19 vs. Rotavirus

48:23 - 51:31 - The Role of Technology in India’s Response to COVID-19

51:32 - 54:11 - Executing in Emergency Situations versus Raising Standards of Excellence

54:12 - 57:40 - Advice to Young Researchers in the Post-COVID-19-era

57:41 - 1:00:30 - Crucial Policy Changes to Consider

1:00:31 - 01:06:38 - Dr. Kang’s New Role at the Bill & Melinda Gates Foundation

01:06:39 - 01:08:41 - On improving India’s Disease Surveillance Systems

01:08:42 - 01:10:35 - How to Approach Budget Allocation for Healthcare

01:10:36 - 01:13:17 - Preparing for the Data Revolution in Life Sciences

01:13:18 - 01:14:02 - One Piece of Advice Dr. Kang received

01:14:03 - 01:14:20 - Thanks

Thank you so much for taking the time and engaging with this issue of The Inductive Economy.

Your support and curiosity mean the world to us. If you've found value in what you've read and want to stay updated with our latest insights and discussions, we warmly invite you to subscribe to our Substack. This way, you'll never miss out on our newest explorations and revelations.

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Dr. Vatsala Thirumalai on The Biology of Movement and the State of Indian Science

The Inductive Economy — Sun, 02 Jun 2024 20:58:16 GMT

Introduction

“All locomotion is kind of rhythmic.”

Dr. Vatsala Thirumalai is a distinguished neuroscientist and a faculty member at the National Centre for Biological Sciences (NCBS), Bangalore. She earned her undergraduate degree in Biotech Engineering from Anna University and later pursued a PhD in Neuroscience from Brandeis University, showcasing her diverse academic background and profound interest in the intricacies of biological systems.

Dr. Vatsala’s research focuses on understanding the neural circuits and mechanisms underlying motor control and coordination. Her work involves studying Central Pattern Generators (CPGs), which are neural circuits that produce rhythmic outputs in the absence of rhythmic input, crucial for understanding locomotion and other repetitive movements.

One of Dr. Vatsala’s significant contributions is her research on the zebrafish model. Zebrafish are ideal for studying neural circuits due to their transparency during early development and the simplicity of their nervous system. Her studies have provided insights into how CPGs function and evolve, offering a window into the broader understanding of motor control and its disorders in humans.

In this episode, she discusses the interdisciplinary nature of her academic journey from biotech engineering to neuroscience, underscoring the importance of imagination in scientific discovery. Dr. Vatsala reflects on the elegance of scientific theories, the advantages of zebrafish in neurological research, and her love for the humorous fiction of Bagyam Ramasami. She emphasizes the critical role of mentors in shaping young scientists' careers and envisions a collaborative future for Indian science with active participation from both the private sector and government.

In her perspective, the future Indian scientist will be adaptable, innovative, and collaborative, thriving in a global scientific landscape. Dr. Vatsala’s insights into the current state of Indian science highlight the need for improved research and development, supported by strong mentorship and interdisciplinary approaches.

“Imagination is the bedrock on which research stands.”

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Dr. Vatsala’s Lab Website: https://www.ncbs.res.in/vtlab/

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Selected Links

People Mentioned

Ideas & Other References Mentioned

Locomotion as a Biological Process

CPGs (Central Pattern Generators)

Gait

Half-Center Oscillators

Circadian Rhythm

Cortical Neurons (Cerebral Cortex)

Department of Biotechnology, Anna University

Neurodegenerative Diseases

Four Minute Mile

Neuromorpho

Large Language Models (LLMs)

‘The View from the Cheap Seats’ by Neil Gaiman

‘Freakonomics: Rogue Economist Explores the Hidden Side of Everything’ by Steven Levitt and Stephen Dubner

fMRI

Calcium Imaging

Optogenetics

Heisenberg’s Uncertainty Principle

Long-Term Potentiation (LTP)

Department of Atomic Energy (USA)

NeurIPS

Pratiksha Trust

Center for Brain Research, IISc

Center for Brain and Mind, NCBS

Center for Computational Brain Research, IIT Madras

Time Stamps

00:00 - 00:14 - Theme

00:15 - 02:15 - On the work of Bagyam Ramasami

0:16 - 07:30 - The Deeper Significance of Studying Neural Networks that support Movement

07:31 - 13:10 - On CPGs (Central Pattern Generators)

13:11 - 17:34 - On the Evolutionary Origins of CPGs

17:35 - 20:55 - What is Rhythm?

20:56 - 26:24 - On CPGs as a Window in the Brain

26:25 - 32:01 - From Undergrad in Biotech Engineering to PhD in Neuroscience

32:02 - 38:33 - The Most Elegant Theory Vatsala’s ever come across

38:34 - 45:02 - On the Zebrafish

45:03 - 50:38 - On the Ethics of Studying Animals for Scientific Progress

50:39 - 52:16 - On the Turing Test as the Four-Minute Mile

52:17 - 55:52 - On running tests on Animal Simulation vis-a-vis actual Animals

55:53 - 01:05:00 - On Intelligence Augmentation in Mammals

01:05:01 - 01:14:32 - On the Power of Imagination

01:14:33 - 01:16:54 - What will the Indian Scientist of the Future look like?

01:16:55 - 01:25:02 - The Current State of Indian Science

01:25:03 - 01:28:49 - On the Private Sector and the Government meeting Indian R&D halfway?

01:28:50 - 01:31:54 - On the Role of Mentors

01:31:55 - 01:32:51 - Thanks and Gratitude

Thank you so much for taking the time and engaging with this issue of The Inductive Economy.

Moreover, for an even deeper dive into the realms of science and technology, follow us on YouTube, Spotify, and Apple Podcasts.

At The Inductive Economy, we're on a mission to craft India's premier Science and Technology Podcast, bringing you cutting-edge discussions, expert interviews, and much more.

Join us on this journey to illuminate minds and inspire innovation. Together, let's build a community passionate about pushing the boundaries of knowledge and discovery.

Dr. Venkat Padmanabhan on A Culture of Making Things 'Real' as a Key to Progress

The Inductive Economy — Wed, 24 Apr 2024 05:01:20 GMT

Introduction

Dr. Venkat Padmanabhan is the Deputy Managing Director at Microsoft Research India, where he founded and led the Mobility, Networks, and Systems group. He previously worked at Microsoft Research - Redmond for over eight years. Dr. Padmanabhan obtained his Ph.D. in Computer Science from the University of California, Berkeley and his Undergraduate Degree from IIT Delhi. His research interests are primarily in mobile and networked systems. He is an INAE Fellow, IEEE Fellow, and ACM Fellow, and has received numerous awards, including the Shanti Swarup Bhatnagar Prize for Science and Technology.

In this episode, Venkat shared insights from his educational experiences at IIT Delhi and UC Berkeley, and his extensive reading habits during his formative years. Venkat introduces us to the 'HyWay' project, emphasized the importance of 'Principles of Design' in tackling challenges, and described three guiding principles of the HyWay design. He also explained his approach to structuring his day, translating and communicating complex ideas, and detailed his involvement in the 'Network Brain' and 'HAMS' projects. Lastly, Venkat spoke on the impact of research and the untapped potential of research translation in India, culminating in a rapid-fire question round.

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Connect with Venkat on LinkedIn: https://www.linkedin.com/in/venkat-padmanabhan-933779126/

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Selected Links

People Mentioned

Prof. Randy Katz

Prof. N. Balakrishnan (IITM)

Prof. Domenico Ferrari

Ideas & Other References Mentioned

90’s Internet Boom (The Dot-Com Bubble)

HTTP protocol

Bell Labs

Digital Equipment Corporation

HyWay

HyWay Publication

Microsoft Research Lab - India

Network Brain

Network Brain Publications

Capacity Planning and Provisioning (Compute and Network)

HAMS

HAMS Publications

Internet of Things (IoT)

Dynabook

Xerox PARC

Time Stamps

00:00 - 00:15 - Theme Music

00:16 - 04:07 - Venkat’s Experience at IIT Delhi and UC Berkeley

04:08 - 05:55 - Venkat’s Reading Diet as a Youngster

05:56 - 09:08 - The Approach to Research at UC Berkeley

09:09 - 12:10 - Post-PhD Career Choices

12:11 - 16:02 - What is a ‘Good Problem?’ and the Origins of ‘HyWay.’

16:03 - 21:34 - Focusing on ‘Principles of Design’ for Problem-Solving

21:35 - 27:47 - The Three Design Principles Guiding HyWay

27:48 - 31:49 - Modelling ‘Murmurations’ on HyWay

31:50 - 34:30 - How Venkat’s Day is Structured?

34:31 - 38:24 - Venkat’s Process to ‘Translate & Communicate’ Ideas

38:25 - 45:30 - The Networked Brain Project

45:31 - 51:48 - HAMS Project

51:49 - 54:14 - Venkat’s Definition of ‘Impact’

54:15 - 01:00:23 - The Missing Translation Potential of Research in India

01:00:24 - 01:05:58 - Rapid Fire Round

Thank you so much for taking the time and engaging with this issue of The Inductive Economy.

Moreover, for an even deeper dive into the realms of science and technology, follow us on YouTube, Spotify, and Apple Podcasts.

At The Inductive Economy, we're on a mission to craft India's premier Science and Technology Podcast, bringing you cutting-edge discussions, expert interviews, and much more.

Join us on this journey to illuminate minds and inspire innovation. Together, let's build a community passionate about pushing the boundaries of knowledge and discovery.

Dr. Joy Buchanan on Understanding Economics through Experiments

The Inductive Economy — Mon, 15 Apr 2024 21:22:09 GMT

Introduction

Dr. Joy Buchanan is a renowned economist, currently serving as an Assistant Professor at Samford University's Brock School of Business. Her research focuses on behavioral and experimental economics, exploring how individuals make decisions in various economic and social contexts. Dr. Buchanan is known for her work on the experimentalist school of economics, which examines economic phenomena through controlled experiments, providing valuable insights into human behaviour and decision-making processes.

In this episode of The Inductive Economy, Dr. Buchanan discusses a variety of topics exploring the depths of economic theory and its application in today's world. From discussing Tyler Cowen's "GOAT" to diving into the experimentalist school of economics, and examining the influence of media on learning, this episode is packed with insightful discussions. We also explore how technology affects job training, particularly in countries like India, and delve into the role of intellectual property in wealth creation. Tune in for a comprehensive analysis and enjoy a rapid-fire segment to wrap up our discussion.

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Selected Links

Books and Movies Mentioned

G.O.A.T: Who is the Greatest Economist of all Time and Why Does it Matter?
by Tyler Cowen

The View from the Cheap Seats
by Neil Gaiman

The Complacent Class: The Self-Defeating Quest for the American Dream
by Tyler Cowen

The Hobbit
by J.R.R. Tolkien

Society of Mind Lectures by Marvin Minsky | MIT OCW

What is generative AI and how does it work? [The Turing Lectures with Mirella Lapata]

Oppenheimer (2023)

The Barbie Movie (2023)

Top Gun: Maverick (2022)

Taylor Swift: The Eras Tour (2023)

People Mentioned

J. Robert Oppenheimer

Ideas & References Mentioned

Labour Economics

Replication Crises in Social Sciences

Willingness to Be Paid: Who Trains for Tech Jobs?
by Joy Buchanan, Labour Economics (2022)

What is Generative AI and How Does it Work? (The Turing Lectures with Mirella Lapata)

Do People Trust Humans More Than ChatGPT?
by Joy Buchanan, William Hickman, GMU Working Paper in Economics No. 23-38 (2023)

Oppenheimer Film Thoughts
by Joy Buchanan

Joy on the Barbie Movie
by Joy Buchanan

Claudia Goldin on the Economics of Inequality [Conversations with Tyler]

Competition as a Discovery Procedure
by F.A. Hayek

Backcasting

An Experiment on Protecting Intellectual Property
by Joy A. Buchanan and Bart J. Wilson, Experimental Economics (2014)

Rivalrous Goods

Napster

Complex Adaptive Systems

ChatGPT

Time Stamps

00:00 - 01:13 - Cold Open and Theme

01:14 - 05:59 - On ‘GOAT’ by Tyler Cowen

06:00 - 07:39 - Joy answers: ‘Who’s the GOAT?’

07:40 - 11:42 - Joy answers: ‘Who’s an Underrated GOAT Candidate?’

11:43 - 15:46 - What’s the Experimentalist School of Economics?

15:47 - 34:11 - Tech Jobs, Training, and India: What drives the Training Needs of the Future?

34:12 - 38:35 - The Impact of Media on Learning

38:36 - 41:36 - Learning: Project-based Path vs. Prestige-based Path

41:37 - 49:04 - Leisure, Abundance, and the Barbie Movie

49:05 - 54:55 - What if Economists influenced the Barbie movie screenplay?

54:56 - 01:05:12 - On Hayek’s ‘Competition as a Discovery Problem’ paper

01:05:13 - 01:16:16 - Intellectual Property and Wealth Creation

01:16:17 - 01:17:09 - On Elinor Ostrom

01:17:10 - 01:28:23 - Rapid Fire Segment and Thanks

Thank you so much for taking the time and engaging with this issue of The Inductive Economy.

Moreover, for an even deeper dive into the realms of science and technology, follow us on YouTube, Spotify, and Apple Podcasts.

At The Inductive Economy, we're on a mission to craft India's premier Science and Technology Podcast, bringing you cutting-edge discussions, expert interviews, and much more.

Join us on this journey to illuminate minds and inspire innovation. Together, let's build a community passionate about pushing the boundaries of knowledge and discovery.

Dr. Shubha Tole on Understanding the Brain's Inner Workings

The Inductive Economy — Wed, 28 Feb 2024 10:57:12 GMT

Introduction

Embarking on a journey through the intricacies of the human brain, the work of renowned neuroscientist, Dr. Shubha Tole, stands as a beacon of innovation and discovery in the field of neuroscience. With an academic foundation laid at the prestigious St. Xavier’s College, Mumbai, followed by advanced degrees from the California Institute of Technology (Caltech) for her MS and Ph.D., and further honing her expertise with a Post-Doc at the University of Chicago, Shubha’s journey from Mumbai to the forefront of neuroscience research is as fascinating as it is inspiring.

Her career, marked by a transition across continents—from the bustling streets of Mumbai to the innovative corridors of Pasadena and Chicago—encapsulates not just a geographical shift but a monumental leap in scientific training and cultural adaptation. In the face of such challenges, Shubha’s passion for unraveling the mysteries of the brain never wavered. Her research, deeply rooted in understanding mammalian brain development, has significantly advanced our knowledge of how the brain's complex structures and functions come into being.

Shubha’s work is particularly noted for its exploration of the hippocampus, a critical area of the brain involved in memory formation, where she discovered a neuron-astrocyte cell fate switch. This finding has profound implications for understanding memory and has the potential to revolutionize treatments for neurological disorders such as Alzheimer's disease. Additionally, her studies on the Lhx2 gene have shed light on its pivotal role in brain development, offering insights into neurodevelopmental disorders and paving the way for new therapeutic strategies.

As a mentor and role model, Shubha has been a guiding light for many young scientists, especially women, aspiring to carve their niche in the world of neuroscience. Her journey is a testament to the power of perseverance, intellectual curiosity, and the relentless pursuit of knowledge. Over the course of our conversation, we delve into the defining moments and influences of Shubha’s career, her contributions to neuroscience, and the potential future directions of her research.

Currently, Shubha serves as a distinguished Principal Investigator at the Tata Institute of Fundamental Research (TIFR) in Mumbai, one of India's premier research institutes. At TIFR, she continues to lead groundbreaking research in neuroscience, focusing on the development of the mammalian brain, with an emphasis on understanding the genetic and molecular mechanisms that underpin brain development and function. She also serves as Dean of Graduate Studies at TIFR.

Throughout her illustrious career, Shubha has been the recipient of numerous prestigious awards and honours, reflecting her significant contributions to the field of neuroscience. Among these accolades, she has been honored with:

The Shanti Swarup Bhatnagar Prize for Science and Technology, in the Biological Sciences discipline, for her work in 2010.
Infosys Prize in Life Sciences for her significant contributions to our understanding of how the brain's structure and circuitry are formed in the embryo in 2014.

Through her story, we explore not only the scientific intricacies of brain development but also the human spirit's capacity to drive forward the boundaries of what we know about ourselves and the world around us.

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Follow with ⁠Shubha on X: https://twitter.com/shubhatole

Shubha’s Lab at TIFR: https://www.stolelab.co.in/

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Learn more about ContraMinds Labs: https://www.contraminds.com

Selected Links

TimeLife Series

Neurodevelopment

Mentorship comes from many sources
by Shubha Tole, Nature Cell Biology (2018)

St. Xavier’s College, Mumbai

California Institute of Technology

University of Chicago

Richard Feynman: The Pleasure of Finding Things Out (BBC, 1981)

The Blind Watchmaker
by Richard Dawkins

Arnab Bhattacharya (TIFR)

Chai and Why

Cosmos: A Personal Voyage (Carl Sagan)

Dr. Jayant Narlikar

Patient HM

Prof. Elizabeth Grove

Glial Cell / Astrocyte

Constitutive activation of canonical Wnt signaling disrupts choroid plexus epithelial fate
by Arpan Parichha, Varun Suresh, et al (at Commun 13, 633 (2022).)

Star Trek Communicator

Surrogates (2009)

The View from the Cheap Seats
by Neil Gaiman

Turing Test

ChatGPT

Large Language Models (LLMs)

Ex Machina (2015)

The Robot Series
by Isaac Asimov

Her (2013)

“The Freedoms We Give Up”
Talk by Dr. Shubha Tole

Mr. God, This is Anna
by Fynn

Jonathan Livingston Seagull
by Richard Bach

Time Stamps

00:00 - 01:00 - Cold Open

01:01 - 01:17 - Theme

01:18 - 04:52 - Early Life and Interest in Neuroscience

04:53 - 09:33 - On Children Carrying their Parents’ Aspirations

09:34 - 15:11 - Moving to Pasadena in 1988 for Graduate Studies at Caltech

15:12 - 19:38 - On Disagreement and Collaboration

19:39 - 23:59 - The Influence of Role Models and Mentors

24:00 - 28:24 - Shubha’s Primer on Mammalian Brain Development

28:25 - 36:35 - On wonder and why we don’t need a Blind Watchmaker-type hypothesis

36:36 - 38:57 - Suitable Metaphors for Understanding the Brain

38:58 - 42:43 - On a Culture that Respects and Celebrates Science in India

42:44 - 49:54 - Research Work taking place at Shubha’s Lab at TIFR

49:55 - 52:44 - Applying research work from Shubha’s Lab for Gene Repair Techniques

52:45 - 57:57 - Translating Research into Real-World Interventions

57:58 - 01:02:21 - On Human Behaviour

01:02:22 - 01:05:56 - On Science Fiction

01:05:57 - 01:14:31 - Assessing the Current State of Neuroscience Research in India

01:14:31 - 01:17:17 - Comparing Human Intelligence and Computational Intelligence

01:17:18 - 01:20:43 - On whether the Mind is a real thing or not

01:20:44 - 01:24:05 - On LLMs and Morality

01:24:06 - 01:26:09 - Advice for Young People

01:26:10 - 01:31:41 - Advice to Young Women

01:31:42 - 01:36:20 - Rapid Fire Section

Interesting Ideas

“I think it’s kind of tragic that at the age of sixteen, one should be encouraged to think that a professional track is the only way to grow you curiosity and learning. I think it’s tragic and as a country we’ve got to do something about it.”

“The training of Physics allows them (Shubha’s colleagues who work in Physics) a certain set of mental tools which they can then apply to anything.”

“I think it’s appalling that students are allowed to drop math after tenth standard. It shortchanges your education in tremendous ways.”

“This is something I tell students now: a PhD takes five years. Why does it take five years? Because you’re doing something that’s really hard and a lot of it is training your mind in ways that it’s not been trained before.”

“One amazing thing about lab (research) culture in the United States or professional culture everywhere, which our students in India don’t experience, is what professionalism actually means.”

“I learnt to separate the personal from the professional. We don’t do this in India, even in our PhD labs.”

“Each culture’s strengths are also it’s weaknesses.”

“Our culture values education, values intellectual pursuit - this is why everybody gets a bachelor’s degree as far as possible. After that parents are willing to support their child for their Masters and PhD. However, this is not the case in many western countries.”

“In the US- it’s not an intellectual society. To be a rocket scientist, or a nerd, or a geek, has negative connotations. What’s the strength in that? All professions are respected.”

“Over time, I realised that you can learn from anybody. In fact, they don’t have to be older than you or more senior than you- in fact, they don’t even have to be your peers.”

“In my lab at TIFR, we’re on first name terms. Why? Because if you can’t call me by my first name, how’re you going to tell me that you disagree with me?”

“Development simply means what happens when one cell becomes an entire organism. Brain Development or Neurodevelopment focuses on how the brain or the Central Nervous System is formed from a simple sheet of cells.”

“Size of the cortex grows, but the patterning, making- which structure is going to form where- happens when they’re (mammals) all tiny embryos.”

“Science. It’s not perfect. It’s simply what we have.”

“Math did not need a maker, why do you think puny, human brains would need one?”

“Biology is actually quite a messy system. It’s not clean, it’s not elegant.”

“We are one hacked up, patched up, genome - the more biology you study, the more terrified you become.”

“The Hippocampus is the recorder of memory.”

“You start a project by asking a very precise question.”

“Sci-Fi is the way human creativity lays out things the way they’re possible and then science and technology comes along and makes some of them possible.”

“How a culture treats its youngest people is really a measure of it (culture).”

“Nobody has any idea on the circuitry of morality.”

“Don’t limit yourself. Your constraints are there to be flattened. Keep the fire alive.”

“Have the courage to have a dream.”

Thank you so much for taking the time to visit The Inductive Economy.

Moreover, for an even deeper dive into the realms of science and technology, follow us on YouTube, Spotify, and Apple Podcasts.

At The Inductive Economy, we're on a mission to craft India's premier Science and Technology Podcast, bringing you cutting-edge discussions, expert interviews, and much more.

Join us on this journey to illuminate minds and inspire innovation. Together, let's build a community passionate about pushing the boundaries of knowledge and discovery.

Venkat Ram Reddy on Behaviour, Motivation, and Decision-Making

The Inductive Economy — Sun, 21 Jan 2024 11:41:46 GMT

Introduction

On the latest episode of "The Inductive Economy", we embark on an enlightening journey into the intricate world of human behavior and its profound impact on economic structures. I am thrilled to host Dr. Venkat Ram Reddy, a renowned scholar whose expertise bridges the realms of psychology and economics.

Venkat is an Assistant Professor of Human Capital and Organizational Dynamics at the School of Management and Entrepreneurship, IIT Jodhpur. He earned his MS and PhD at the Department of Management Studies, IIT Madras.

My discussion with Venkat delves deep into the nuances of decision-making, exploring how our choices are influenced by a complex blend of rationality and emotion. Venkat’s insights illuminate the subtle yet powerful ways in which motivation, cognition, and affect intertwine, profoundly shaping both personal lives and the broader economic landscape.

We also venture into the unique dynamics of labor addas in India, shedding light on the social and economic forces that shape these vital labor markets.

This episode promises to be a captivating exploration of the psychological underpinnings that drive economic interactions and the societal structures they create.

Join us for a thought-provoking conversation that traverses the fascinating intersection of human psychology, economic theory, and social structures.

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Connect with Us

Connect with ⁠Venkat on LinkedIn: https://in.linkedin.com/in/ganuthula

⁠Follow ⁠Vignesh⁠ on X: https://twitter.com/hrorq

Connect with Vignesh on LinkedIn: https://www.linkedin.com/in/hrorq/

Follow us on ⁠X⁠: https://twitter.com/IndxEcon

Follow us on ⁠Instagram: https://www.instagram.com/indxecon/

Learn more about ContraMinds Labs: https://www.contraminds.com

Selected Links

IIT Jodhpur

School of Management and Entrepreneurship (SME), IIT Jodhpur

MBA in FinTech, SME at IIT Jodhpur

Charles Darwin

Decision Making

Herbert A. Simon

Simon’s Bounded Rationality

Daniel Kahneman

Amos Tversky

Heuristics

Thinking, Fast and Slow
by Daniel Kahneman

Behavioural Economics

Ecological Rationality

Judgement Under Uncertainty: Heuristics and Biases
by Amos Tversky and Daniel Kahneman

The Looking Glass for Intelligence Quotient Tests: The Interplay of Motivation, Cognitive Functioning, and Affect
by Venkat Ram Reddy

Affect

Todd Rose

The End of Average
by Todd Rose

Stanford Prison Experiment

National Education Policy (2020)

Emergent Ventures

Walden
by Henry David Thoreau

Venkatraman Ramakrishnan

Time Stamps

00:00 - 00:38 - Cold Open

00:39 - 00:52 - Theme

00:53 - 02:55 - Introduction

02:56 - 06:11 - What’s Different about IIT Jodhpur?

06:11 - 10:57 - Rethinking the MBA Program at SME, IIT Jodhpur

10:58 - 15:20 - Venkat’s Journey as a Self-Taught Economist and Psychologist

15:21 - 24:49 - Venkat’s Influences on his Self-Learning Path - Herbert Simon, Daniel Kahneman, Amos Tversky

24:50 - 28:14 - Economics: Pre and Post the Influence of Psychology

28:15 - 34:36 - What’s the Relationship between Intelligence and Rationality?

34:37 - 44:53 - Effect vs. Affect and the Mis-measurement of Intelligence

44:54 - 55:35 - Inverting the Parent-Teacher Meeting: A Thought Experiment

55:36 - 59:39 - On The National Education Policy (2020)

59:40 - 01:04:26 - How to measure the outcomes of a Policy for analysis and improvement?

01:04:27 - 01:17:26 - Venkat’s Research on Labour ‘Addas’

01:17:27 - 01:22:50 - Rapid Fire

01:22:51 - 01:24:14 - Closing

Interesting Ideas

If you go back to the early 1900s, the Henry Fords of the world, wanted [sic. their teams] to build a certain kind of skillset within the organization to go about managing people on the shop floor- that is, perhaps, the origins of management education.

A lot of emerging roles in Management today are not just about managing people within the organization, but also about managing customers, investors, stakeholders, as well as technologies that power the firm.

Treat your intellectual interests as research problems. Frame the problem, understand what the literature says about it. This hones your intuition and your understanding of the problem.

There’s an ideal in science: always be independent of the object of study. However, Venkat has observed that some of the most remarkable research are from people who are far more involved in the object of study than otherwise.

“My belief is that it is always me-search that ends up bringing up an insight that the world also gains from.”

Decision-Making is about the future. The future is uncertain. To combat uncertainty you use information. Information helps us visualize (or simulate) an outcome over a timespan.

In an ideal people, people would like complete information before making a decision. In the real world, they don’t get complete information, which means that they have to make a decision with a certain degree of uncertainty. This implies that we can only be bounded-ly rational.

The results of an IQ Tests need to be viewed only through the lens of information retrieval and speed of output. The tests don’t measure, nor are they designed to measure affect, motivation, and interest.

Be more courageous with your thoughts.

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Karthik Raman on The Computational Future of Biology and the Researcher-Entrepreneur

The Inductive Economy — Tue, 16 Jan 2024 08:20:40 GMT

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Introduction

Welcome to the latest episode of The Inductive Economy where we dive deep into the fascinating world of Computational Systems Biology with our esteemed guest, Dr. Karthik Raman. Dr. Raman, a renowned figure from IIT Madras, brings a wealth of knowledge and experience to the table, illuminating complex concepts and the latest advancements in the field.

In this episode, we unravel the intricacies of Computational Systems Biology, starting with a basic understanding of the term and exploring the nuanced differences between systems and networks. We journey through the origins of network science in biology, delve into the groundbreaking data work at Dr. Raman's lab, and discuss the critical aspects of accuracy and replicability in research.

Dr. Raman shares insights on the challenges of modelling biological systems, the impact of computational power on biology, and the revolutionary role of tools like AlphaFold. Aspiring researcher-entrepreneurs will find invaluable advice, and we also touch upon the inspiring role of a lab leader in shaping future scientists and entrepreneurs.

Join us as we explore the future of Computational Biology and the impactful work being done at Dr. Raman's lab, culminating in a rapid-fire session that's as enlightening as it is entertaining. Don't miss this journey into the heart of one of science's most exciting fields!

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Listen to the Podcast: Apple Podcasts | Spotify | Amazon Music

Connect with Us

Connect with ⁠Karthik on LinkedIn: https://www.linkedin.com/in/ramankarthik/

Connect with Karthik on Twitter: https://twitter.com/karthikraman

Visit the qBiome Website: http://www.qbiome.com/

Follow us on ⁠X⁠: https://twitter.com/IndxEcon

Follow us on ⁠Instagram: https://www.instagram.com/indxecon/

⁠Follow ⁠Vignesh⁠ on X: https://twitter.com/hrorq

Learn more about ContraMinds Labs: https://www.contraminds.com

Selected Links

Centre for Integrative Biology and Systems mEdicine, IIT Madras

Computational Systems Biology Lab

Computational Biology

Genome Sequencing

Base Pairs

Network Biology

Yuri Lazebnik - Can a biologist fix a radio?—Or, what I learned while studying apoptosis

LLMs (Large Language Models - Intro by Andrej Karpathy)

Robert Bosch Center for Data Science and Artificial Intelligence, IIT Madras

Prof. Smita Srivastava (IIT Madras)

Kirchoff’s Law

Where Good Ideas Come From
by Steven Johnson

This Will Make You Smarter
Edited by John Brockman

The Man Who Knew Infinity
by Robert Kanigel

Fermat’s Last Theorem
by Simon Singh

Deep Work: Rules for Focused Success in a Distracted World
by Cal Newport

Make Time: How to Focus on What Matters Everyday
by Jake Knapp & John Zeratsky

Show Notes

00:00 - 01:12 - Cold Open

01:13 - 01:26 - Theme

01:27 - 03:30 - Introduction

03:31 - 07:53 - Deciphering the term, “Computational Systems Biology”

07:54 - 10:52 - What’s the Difference between a System and a Network?

10:53 - 14:42 - The Origins of Network Science Thinking in Biology

14:43 - 17:23 - The Data Work performed at Karthik’s Lab at IIT Madras

17:24 - 19:41 - Methods of Investigation in Computational and Systems Biology

19:42 - 25:19 - Ensuring Accuracy and Replicability in Computational and Systems Biology Research

25:20 - 30:08 - Collaborations and Inter-Disciplinary Work in Computational and Systems Biology

30:09 - 33:12 - Biggest Challenges when Modelling Biological Systems

33:13 - 38:01 - Impact of Compute Power on Biology

38:02 - 41:46 - Running Biological Datasets on LLMs

41:47 - 43:30 - On AlphaFold

43:31 - 51:26 - Advice for aspiring Researcher-Entrepreneurs

51:27 - 55:51 - Being a Lab Leader and Inspiring the Next Generation of Scientists and Entrepreneurs

55:52 - 01:00:10 - On Karthik’s Lab working on In-Silico Metabolic Engineering

01:00:11 - 01:01:26 - Looking at the Future of Computational Biology

01:01:27 - 01:03:28 - Thinking about the Impact of the work done at Karthik’s Lab at IIT Madras

01:03:29 - 01:22:20 - Rapid Fire

01:22:21 - 01:22:55 - Closing

Interesting Ideas

“Computational Biology involves looking at various aspects of biology through a computational lens.”

“You cannot understand a complex system by just looking at a few parts.”

“An engineer would be able to mark out the key components of a system, whereas in biology, you have to reverse engineer - the system is already in front of you, now you have to figure out: what is the function the system is performing, how do I go about manipulating it, how do I go about understanding it- and understand it well enough so that I can manipulate it.”

“Metabolism seems to be a very important aspect of how microbes interact with each other and it has a lot of implications for us to understand what kinds of relationships exist between microbes in different environments.”

“Often times the interesting parts (of research and experimentation) comes when your experimental observations are very different from what you computationally predicted- so then you go and try to fix your model. This what we call a Systems Biology Cycle.”

“My first brush with Systems Biology came when I was an undergrad student studying chemical technology where I was exposed to a course on Process Control. Process Control is a classic Chemical Engineering course, every chemical engineer does Process Control, but it has very direct application to Biology, because Biological Systems are basically Control Systems.”

“You can come up with as many smart algorithms you want but if you can’t really implement them appropriately, scale them, and future-proof them, it’s not going to be useful 5 years down the line.”

“In Biology, the biggest challenge comes from the fact you don’t know the truth- what is the ground truth?”

“Today, you can actually take a sequence, run it through AlphaFold, get a far stronger candidate for your protein structure, and use that for prediction.”

“DeepTech is hard. Biology is even harder.”

“Metabolic Engineering is all about predictably figuring out what roads to shut down, what roads to widen in the cell, so that you have more of the output you want.”

“Try to do as many courses as possible. Try and expose yourself to as many areas as possible.”

“Go pick up a book and read it.”

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Ashish Kulkarni on State Capacity Libertarianism, Econ Principles for Everyone, and India's Unique Path Ahead

The Inductive Economy — Thu, 11 Jan 2024 05:25:53 GMT

Introduction

Ashish Kulkarni holds a PhD in Economics from the Gokhale Institute of Politics and Economics (GIPE). Currently, he's an esteemed faculty member at the same institute, where he imparts knowledge in economics, finance, and statistics. Ashish is not just a teacher; he's a mentor at heart. He organizes various events and discussions, enriching students' academic journeys and making economics approachable for everyone.

Ashish's contributions extend beyond teaching. He played a pivotal role in establishing the Centre for Behavioural Economics at Gokhale. His passion for making economics accessible led him to create Econ for Everybody, a platform that demystifies this subject for all.

In our enlightening conversation, Ashish introduces us to State Capacity Libertarianism. This innovative concept re-examines the state's role in economic matters, offering fresh perspectives on policy-making. We dive into the nuances of price controls, unraveling how price floors and ceilings influence markets and affect various groups.

Ashish also shares six essential economic ideas he believes are crucial for everyone. These concepts are not just academic; they're tools for better living and understanding the economic world around us.

Finally, we delve into the intriguing overlap of voter preferences and economic decisions. Ashish offers insightful views on how democracy intertwines with economic choices, shedding light on this vital aspect of our society.

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Listen Now

Audio

Listen to the Podcast: Apple Podcasts | Spotify | Amazon Music

Connect with Us

Connect with ⁠Ashish on LinkedIn: https://www.linkedin.com/in/ashishrkulkarni/

Connect with Ashish on Twitter: https://twitter.com/ashish2727

Visit the Econ for Everybody Website: https://econforeverybody.com/what-is-efe/

Follow us on ⁠X⁠: https://twitter.com/IndxEcon

Follow us on ⁠Instagram: https://www.instagram.com/indxecon/

⁠Follow ⁠Vignesh⁠ on X: https://twitter.com/hrorq

Learn more about The Inductive Economy and other ContraMinds Labs podcasts: https://www.contraminds.com

Selected Links

Marginal Revolution

Tyler Cowen

State Capacity Libertarianism

Peter Thiel

Zero to One: Notes on Startups or How to Build the Future
by Peter Thiel

The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will Feel Better
by Tyler Cowen

Operation Warp Speed

Neti, Neti

Alex Tabarrok

Dominant Assurance Contracts

Culture of Singapore

You’ve heard of jobless growth. But Tata, Birla, Ambani, Adani, have given India brandless growth
by Shekhar Gupta

Narayana Murthy

Narayana Murthy on Why Youngsters Need to Work Extremely Hard

Abhijit Iyer Mitra’s Tweet on the 70-hour Work Week Story

South Korean Economy

Chaebols

General Park Chung Hee

The Miracle
by Michael Schuman

How Asia Works
by Joe Studwell

Production-Linked Incentives

Toward a Free Economy: Swatantra and Opposition Politics in Democratic India
by Aditya Balasubramanian

India's Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges
by Jagdish Bhagwati and Arvind Panagariya

Thomas Sowell and Peter Robinson on Uncommon Knowledge (Intellectuals and Society)

Russ Roberts

How Adam Smith can Change Your Life
by Russ Roberts

Foundation of Economic Analyses
by Paul Samuelson

We Are Like That Only
by Rama Bijapurkar

Eric Weinstein

Keynes Hayek: The Clash that Defined Modern Economics
by Nicholas Wapshott

The Cult of Statistical Significance: How the Standard Error Costs Us Jobs, Justice, and Lives
by Stephen Thomas Ziliak and Deirdre N. McCloskey

Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World
by Deidre N. McCloskey

The Myth of the Rational Voter: Why Democracies Choose Bad Policies
by Bryan Caplan

Distributive Politics and Economic Growth (1994)
by Alberto Alesina and Dani Rodrik

Dani Rodrik

Zen and The Art of Motorcycle Maintenance
by Robert Prisig

The Mahabharata

Duolingo

Dil Chahata Hai

The Original Star Wars Trilogy

Hrishikesh Mukherjee

Golmaal (1979)

Show Notes

00:00 - 00:23 - Cold Open

00:24 - 00:38 - Theme

00:39 - 02:33 - Intro on Ashish and the Episode

02:34 - 03:49 - Ashish’s story (so far) in his own words

03:50 - 04:35 - Ashish’s foray into Economics

04:36 - 16:10 - On State Capacity Libertarianism

16:11 - 23:17 - Size versus Structure of an Economy

23:18 - 27:12 - Removing the Locusts of India’s Past Economic Decisions

27:13 - 29:41 - On the Impact of Scientific Research, Technology, and Innovation on India’s Productivity, Market Outcomes, and Progress

29:42 - 33:20 - What should the relationship between Individuals, Corporations, and Government be like from a Cultural Perspective

33:21 - 35:24 - Ashish as Policy Tsar implementing the Principles of State Capacity Libertarianism

35:25 - 38:50 - On the Swatantra Party

38:51 - 42:26 - India’s Problem with Viewing Profits and Companies as Positive Elements of Culture

42:27 - 49:38 - Ashish’s Curriculum to rethink Economics Education for Indians

49:39 - 55:35 - Which Ideas make it into Ashish’s Economics Curriculum?

55:36 - 57:48 - On Price Floors and Price Ceilings

57:49 - 01:05:08 - On Price Discrimination

01:05:09 - 01:10:46 - Modelling the Future based on Trends of the Past

01:10:47 - 01:18:52 - The Nostalgia of Associating Truth with Models of the Past

01:18:53 - 01:20:55 - On Deidre McCloskey and Joel Moykr

01:20:56 - 01:24:57 - On The Inductive Economy

01:24:58 - 01:27:00 - On Economic Values and Political Preferences

01:27:01 - 01:34:09 - Rapid Fire

1:34:10 - 01:34:55 - Closing

Interesting Ideas

“Me personally, I’d argue that Markets, by definition, work. The idea that you can impose a top-down solution to enable economic transactions is just wrong.”

“Support Markets, but acknowledge the need for a Government would be a way to describe it (State Capacity Libertarianism.)”

“One thing I love asking foreigners is this: Name one thing in you home which has been manufactured by an Indian company.”

“What India’s not been able to do is use it’s state capacity in order to be able to develop global champions.”

“India has neither State Capacity nor Libertarianism, and unfortunately, we end up with the worst of all worlds.”

“Venerating the past, celebrating. the present, but not focusing enough on setting targets for the future. We lack a mission statement.”

“Us Professors of Economics, we tell that it is important to learn economics, but we fail to explain what for.”

“Economics is a means to an end. Economics is what teaches you how to live a better life.”

“Economics isn’t a subject you master. Economics is a subject you apply.”

“Understand that the world and life are non-zero sum games.”

“The Six Core Lessons of Economics (for Indians):
1. People Respond to Incentives.
2. There’s No Such Thing as a Free Lunch
3. The World is a Non-Zero Sum Game
4. If you want to communicate to the world at large, prices are an amazing way.
5. Markets sometime fail.
6. You must, whenever possible, take the long term view.”

“Humanity is defined by the fact that we trade with other humans. No other species gets richer by trading with each other.”

“Price is an incentive wrapped up in a signal.” (from Tyler Cowen and Alex Tabarrok)

“Political Opinions will always supersede Economic Values. That’s the tragedy of not just our times, but also of any society. What will triumph is political necessities not economic virtues.”

“Read and watch as much science fiction as you can.”

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5 Link Friday #002

The Inductive Economy — Thu, 21 Dec 2023 08:47:19 GMT

Oh, Hello!

Welcome to the #002 of 5-Link Friday.

Our goal with posts of this nature is to share five links- just 5 links- with you which we believe is at the intersection of science and technology, economics, progress, and individual autonomy.

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Your 5LF

Books I loved Reading in 2023 - Vivek Kaul

Vivek Kaul loves reading crime fiction. Vivek Kaul also reads a lot of books. Here’s his best of 2023 list on the books he read through the year.

Link Here 👉 : https://www.livemint.com/mint-top-newsletter/easynomics20122023.html

Using LLMs to make Math and Computer Science Breakthroughs

The DeepMind blog discusses "FunSearch", a novel approach that utilizes Large Language Models (LLMs) to discover new solutions in mathematical and computer science fields. This method pairs an LLM with an automated evaluator to refine creative ideas into verifiable knowledge, achieving breakthroughs in problems like the cap set problem in mathematics and the bin packing problem in computing. FunSearch's innovation lies in generating concise, interpretable programs that reveal their solution construction process, enhancing scientific understanding and potential applications in various fields.

Link Here 👉 : https://deepmind.google/discover/blog/funsearch-making-new-discoveries-in-mathematical-sciences-using-large-language-models/

Kanika Agarrwal’s Thread on The Failure of Her Startup, Upside

Kanika outlines lessons and reflections on what went wrong at her startup, Upside. Her insights are deep, fair, objective, and extremely valuable for those of us building companies and aspiring to achieve massive scale.

Link Here 👉 : https://twitter.com/kanika_agarrwal/status/1737038948160225749

Sam Harris on: Vipassana vs. Dzogchen, Looking for the Looker, and Psychic Powers

The podcast episode from Ten Percent Happier features Sam Harris discussing various topics, including the psychological benefits of quitting Twitter, a comparison between Vipassana and Dzogchen meditation, the concept of "looking for the looker," and his views on the metaphysics of meditation and psychic powers. Sam Harris is a neuroscientist, philosopher, and author known for his work across various fields, including neuroscience, moral philosophy, and meditation practice.

Link Here 👉 : https://www.tenpercent.com/tph/podcast-episode/sam-harris-2023

Vitalik Buterin’s Definition and Perspectives on Techno-Optimism

In his article "My Techno-Optimism," Vitalik Buterin discusses his nuanced perspective on technological advancements. He argues for the immense potential of technology to create a brighter future but emphasizes the need for thoughtful selection of technological directions. Buterin reflects on both the positive impacts of technology, like improvements in life expectancy and accessibility, and the risks associated with unregulated technological growth, particularly in the context of AI and its potential for misuse in surveillance and warfare.

Link Here 👉 : https://vitalik.eth.limo/general/2023/11/27/techno_optimism.html

Thanks for reading this edition of the 5-Link Friday.

We’ll be back next week with the latest dose of progress, science, and prosperity for your consideration.

Have fun and stay safe.

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5 Link Friday #001

The Inductive Economy — Fri, 08 Dec 2023 04:30:41 GMT

Oh, Hello!

Welcome to the inaugural edition of 5-Link Friday.

Our goal with posts of this nature is to share five links- just 5 links- with you which we believe is at the intersection of science and technology, economics, progress, and individual autonomy.

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What’s New on INDxECON ?

Episode 001 of The Inductive Economy is Live! 🎧

We are thrilled to share our latest episode featuring the insightful Siddharth Tripathi, where we delve deep into HR, Startups, Culture, Self-Discovery, and Music and Movies.

Listen to the Podcast: Apple Podcasts | Spotify | Anchor | Amazon Music

Click here to view Show Notes and Selected Links.

Gemini by Google DeepMind

From Demis Hassabis -

“Gemini is the result of large-scale collaborative efforts by teams across Google, including our colleagues at Google Research. It was built from the ground up to be multimodal, which means it can generalize and seamlessly understand, operate across and combine different types of information including text, code, audio, image and video.”

Link here 👉 : https://deepmind.google/technologies/gemini/#introduction

Note: Sergey Brin being a core contributor to Gemini is the epitome of peak technical founder (See image below) .
(H/T: https://twitter.com/nearcyan/status/1732509656478880039)

Biggest Breakthroughs of 2023

A fascinating thread outlining the biggest advances made in 2023 in the realms of science and technology by Gavin Leech - from biocomputers to digital spinal implants that’ve made a quadriplegic man walk.

Link here 👉 : https://twitter.com/g_leech_/status/1731263549182206291

Tiny, Human-cell Robots bring us closer to true personalized medicine

Scientists at UPenn have created anthrobots which are tiny robots made of human tracheal cells which can repair neural tissues.

Link here 👉 : https://www.nature.com/articles/d41586-023-03777-x

Are startups which are born during Recessions fare better?

From the abstract-

“We combine novel micro data with the quasi-random timing of patent decisions over the business cycle to estimate the effects of being born in the Great Recession on innovative startups. After purging ubiquitous selection biases and sorting effects, we find that recession startups experience better long-term outcomes in terms of employment and sales growth (both driven by lower mortality) and future inventiveness. While funding conditions cannot explain differences in outcomes, a labor market channel can: recession startups are better able to retain their founding inventors and build productive R&D teams around them.”

Link here 👉 : https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4298934

NASA’s Psyche Delivers First Images and Other Data

Already 16 million miles (26 million kilometers) from Earth, the spacecraft will arrive at its destination – the asteroid Psyche in the main asteroid belt between Mars and Jupiter – in 2029. The team wanted to test all of the science instruments early in the long journey to make sure they are working as intended, and to ensure there would be plenty of time to calibrate and adjust them as needed.

Link here 👉 : https://www.jpl.nasa.gov/news/nasas-psyche-delivers-first-images-and-other-data

Thanks for reading the inaugural edition of the 5-Link Friday.

We’ll be back next week with the latest dose of progress, science, and prosperity for your consideration.

Have fun and stay safe.

Subscribe now

Siddharth Tripathi on Personality WBCs and Paths to Self-Discovery

The Inductive Economy — Tue, 05 Dec 2023 11:14:10 GMT

Introduction

Siddharth is an MBA from MDI Gurgaon and a B.E from NIT Trichy. He has 15 years of rich HR experience with a focus on performance, rewards, incentives, talent management and people analytics. He has worked across industries and geographies; with reputed companies like GE, Aon Hewitt, Hay Group, Towers Watson, Zomato and Times Internet.

Siddharth is also an acclaimed author. His debut novel was published in 2013. Blowfish, his second novel, was published by Bloomsbury in 2017. His first two books are now being adapted for an OTT release. Siddharth's third book unMind (released in 2020) is a graphic retelling of the teachings of Ramana Maharshi.

Listen Now

Audio

Listen to the Podcast: Apple Podcasts | Spotify | Anchor | Amazon Music

Video

Connect with Us

⁠Follow ⁠Vignesh⁠ on X: https://twitter.com/hrorq

Connect with ⁠Siddharth⁠ on LinkedIn: https://www.linkedin.com/in/siddharthtripathi/

Learn more about The Inductive Economy and other ContraMinds Labs podcasts: https://www.contraminds.com

Selected Links

Times Internet

Zomato

Margin Call

Powerful: Building a Culture of Freedom and Responsibility by Patty McCord

Netflix Culture Deck

Vinod Khosla - Failure Doesn’t Matter. Success Matters.

UnMind by Siddharth Tripathi

Ramana Maharishi

Advaita Philosophy

Road to Character by David Brooks

The Teachings of Ramana Maharishi by Athur Osborne

A Search in Secret India by Paul Brunton

The Razor’s Edge by William Somerset Maugham

Who Am I by Ramana Maharishi

Zen Mind, Beginner’s Mind by Shunryu Suzuki

Steve Jobs by Walter Isaacson

Autobiography of a Yogi by Paramahamsa Yogananda

Led Zeppelin

Division Bell by Pink Floyd

Catcher In The Rye - J.D. Salinger

Atom Heart Mother by Pink Floyd

Show Notes

00:00 - 01:05 - Intro

01:05 - 05:24 - Sid’s Journey into HR

05:25 - 11:34 - Transition from Sales to HR, Learning Curves in the HR space, HR’s Seat at the Table

11:35 - 15:52 - On the Corporate Employee’s Addiction to Jargon

15:53 - 21:44 - HR’s role in Company Culture and Culture as the CEO’s Agenda

21:45 - 24:59 - Young CEOs and the Learning Curve of Leading an Organization

25:00 - 30:11 - On VCs who don’t have Operating Experience

30:12 - 41:46 - Lessons and Insights from Ramana Maharishi for Founders and CEOs

41:47 - 49:05 - Why Genuine-ness is Hard to Fake especially in Leadership Positions and What Humility Means

49:06 - 58:29 - The Open-Source Nature of Ramana Maharishi’s Philosophy and references to his work

57:30 - 01:06:39 - On Zen and the Ossification of our Preferences moulded by Society

01:06:40 - 01:15:51 - On Albums, Top Albums rated by Siddharth and Vignesh

01:15:52 - 01:30:11 - Rapid Fire

01:30:12 - 01:32:15 - Thank you and Close

The Sound, Structure, and Science of The Inductive Economy

The Inductive Economy — Sat, 28 Oct 2023 09:38:37 GMT

Man is a composite, an average, for the lack of a better word, of his influences, inspirations, and ideas.

I do not make bold claims. I am just as influenced, inspired, often possessed by ideas, as anyone else. The only difference is that I curate my muses exceptionally well and accept my limitations and fallibility.

In this essay, I want to outline my intentions behind The Inductive Economy- what it means, what we intend to achieve, how do we go about, and why is it needed?

The idea of The Inductive Economy possessed me when I was finding it extremely difficult to reach out to and connect with Indian academics and scientists, both in and out of India. Often, I was annoyed at myself, at everyone, society, and the lot. However, as part of growing up, reframing my challenges proved a game-changer. Apart from altruism, you need to frame your case in a win-win-win framework so that you can persuade the party you’re persuading to visualize the scope and scale of their work and it’s potential for broader impact on Indian society.

There is a fundamental reason why Oppenheimer captured the imagination of the entire world, while Rocket Boys’ impact has hardly penetrated popular culture in India. We have misaligned incentives, misidentified our heroes, and misdiagnosed our problems… consistently and with pride (for some godforsaken reason.)

Somewhere, somehow; this needs to stop.

The West’s ability to celebrate scientific progress and even vigorously debate the basic tenets of what the overton window of progress is precisely what separates them from the rest. The challenges of Nuclear Power didn’t deter them from not developing it. The lesson: you build the science first, debate the ethics later. There are always ‘genie back in the bottle’ arguments, but when you spend 0.7% on GERD over a 30-year window, we (India) simply do not have the opportunity and nor the bandwidth to entertain decelerationist arguments. It is too expensive in terms of time, capital, and attention.

Build first, talk later.

In Neil Gaiman’s ‘The View from the Cheap Seats’, he recalls a conversation he had at a Chinese Sci-Fi Convention.

He asked his Chinese Host: where did China acquire the ambition to focus so much of its attention on science and technology, which is a clear marker of their improved living standards and infrastructure. His Chinese Host replied that they went to the root source of inspiration: books, television, and the arts.

And you can see the impact of this clearly in the numbers.

Art, Media, and Communication are the first points of Attack.

The socialist view of this axiom is to enable suppression; the techno-capitalists’ interpretation of this is enable a flourishing.

The impact of Star Wars, Star Trek, Planet of the Apes, Dexter’s Laboratory, Doctor Who, and Fringe can only attributed to time-wasting, stonerdom, and a supreme delusion of infinite time (something old people believe they have great wisdom and young people have little to no perspective on.) This mis-measurement holds water only when assessed through the first 20 years of an individual’s life (and when assessed by a third person)- however, these are the ephemeral memories that motivate young people to pursue a purposeful, creative careers developing technology and building businesses.

Prosperity is the ultimate result of compounding.

We need better storytelling, better communication, better narrative-setting, so that we can inspire people- young and old- to go out and build the economy. Exponential transformations of the economy don’t just fall out of the sky. They take years and years of time, patience, capital, and momentum to come together.

Individuals are responsible for impact.

Splitting the structure of society, we find three tracks- The State, The Market, The Community, as per Raghuram Rajan’s work- however, when we delve into the structure of India’s Digital Public Infrastructure, we encounter a new type of institutional entity called, a Sutradhar - a non-government, non-market entity driven by individuals, pulling the state and markets together to deliver goods and services to benefit the community.

Tools such as AADHAR, UPI, DigiLocker (part of the India Stack) was built by no greed, no glory volunteers. The unique proposition India managed to fulfil was this: building global influence (after servicing the needs of her own massive population) in a capital-as-a-strategy and infrastructure-as-a-strategy approaches dominated by the United States and China, using low-cost, population-scale software. If these tools were built by the market or the state, they would’ve neither been low cost, nor population scale.

The bottom-line I am writing towards is this: neither the State nor the Market is coming to save you. You have to save yourself. However, when the State and the Market are in the decline, you have step in as well. Damned if you do, damned if you don’t? Maybe. Maybe not.

Similar to how India Stack paved a way to solve the problem of geopolitical influence, we need a new third way to solve the problem of a Sci-Fact economy. Sci-Fact, not Sci-Fi.

This begins not with capital, nor with resources.

It begins with respect and recognition.

Somewhere we need to celebrate our scientists, academics, and public intellectuals. We shouldn’t care about their politics, because, let’s face it, India is an extremely political country. People can believe whatever they want to believe, but if their work is indisputable at the levels of bits, atoms, and business models, we need to learn to compartmentalize our feelings and cheer them on.

The West has multiple such institutions to celebrate their researchers, academics, and teachers. I am unsure of what we have. Shaastra and other such magazines and new media publications are stepping up and we need to step up and cheer for them.

But, let’s take stock of what the West has actually managed to achieve. Look at the work of The Simons Foundation.

Jim Simons is the money behind Quanta Magazine, The Flatiron Institute, Math for America, among many more.

He represents a new way to contribute capital. Something we need to look at and learn. Let’s not view profits and capitalism in a way we’ve been conditioned to treat them. Part of life is to grow up and expand our horizons. In this particular domain, success is best determined by the responsible and impact-oriented allocation of capital.

The Rockefeller, Carnegie, Morgan-era has ended, we need to start behaving like it.

So, why call it ‘The Inductive Economy’ ?

Simple.

The past is a pretty shitty indicator of society-scale change.

We live in a world dominated by models, mindsets, and messages that massage our intuitions to believe an accurate interpretation of past events, modelled impeccably, can help guide us to a better future.

This is reductive fallacy.

The new inventions, discoveries, and breakthroughs of the future do not come from the past or models of moments from the past. Past attempts may influence future directions, but past problems require future-back thinking, not past-forward thinking.

The Inductive Economy is a our attempt to engage with ideas that are non-consensus, but right. And they may be in domains of art, science, and entrepreneurship. And increasingly, we will come to live in a world where the products, services, and breakthroughs at the intersection of the three will be the greatest drivers of prosperity and progress.

This is the age of virtue, virtuosity, and velocity.

We need to let go of our bias toward reverting to reductive models of reasoning to ones where we leverage an inductive mode of reasoning. After all, entrepreneurship, in my opinion, is a shining example of applied inductive reasoning.

Now that my semi-rant has concluded, what can we expect at The Inductive Economy?

Expect conversations with ordinary people who have achieved extraordinary things.

Let’s learn from these high achievers.

Let’s learn what drives them, what are their visions of the future, how can we get there?!?

Expect podcasts, video essays, book reviews, interviews, blog posts, micro-lessons, and a supply of counterintuitive- non-consensus and right- ideas to help frame your thinking and your perception of the future better.

Thanks for reading this and welcome. :)