We want LI to be one of the friendliest places on the internet, where lawyers and law students help each other with their career related queries and occasionally discuss other stuff that might affect their lives too. In other words:
1. Be kind, respectful and helpful to each other.
2. Be bona fide, truthful, genuine and curious.
3. Assume the best intention of others.
Therefore, in using the site, you must agree to do your best to uphold these community guidelines.
Note that what you find here is written and moderated by anonymous people on the internet.
Therefore everything you read here is very likely unverified, rumour, speculation and/or downright false.
In continuing to read anything here, you must therefore agree not to take anything you read here as factual and that you will exercise due caution, diligence and common sense before acting on any information you may come across here.
You also agree to report any inaccurate or malicious comments with the buttons. Moderators take action within 24 hours, as required and appropriate under law.
Our full terms and conditions apply too.
Do you solemnly agree to all of the above?
1: Both are wild outcomes in their respective fields. Harish salve is the best lawyer in the country but Kamath is not the biggest entrepreneur yet trumps salve in terms of money.
2: We all will not act as if money doesn't matter since it is the only thing that matters.
With all due respect, what explains the wealth gap and is law even worth it if the best case scenario isn't a billionaire even at 67 years of age. I am not trying to mock him, I know he is filthy rich but as a newbie in the profession where "grind till you die" is the motto, I want to ask, what is the point if we don't have any shot at being a billionaire? Thanks sir/ma'am
Not everyone wants to be a billionaire. Some people are okay with being affluent and that's fine. A career in law will get you there.
If you want to be a footballer, you don't play table tennis!
The one between 'Rakshasas' and 'Devas'?
It's a symbol of all that's going on ever since the start of human civilization.
Rakshasas are not 'evil' in the simplistic western sense. Rather they symbolize those who are motivated by 'material' endeavours. This notion views humans as victims of their temptations - for money, power, lust, greed, envy.
Devas are not 'good' in the simplistic western sense. Rather they symbolize those who are motivated by the internal principle. This notion views humans as more than as mere victims of their temptations and are motivated by a higher principle which requires sacrifices, perseverance, patience, self-control and rising above temptations.
You just have to decide whether you define your life by a materialistic principle or something more than that. Your choice will have consequences on your life and perhaps some impact on the larger social fabric as well - about which you can know only in your hindsight. But if something goes wrong, then don't worry, you don't have to take the guilt for it, as someone down the years will get the required reason to act to correct the wrong.
Bottomline is you can't really try to moralize your situation or your choices as everything can be morally reasoned given the right kind of context. It's just knowing the context of your life, and doing what you want to do. The context of your life is important because it can bring you rootedness and an organic reason to take action although nothing stops you from acting out of your context.
If you wanna reduce this age to 40-42 , then to get a TC and give GMAT from there. You will settle early and can think about business .
Peace out ✌️
KKR and Blackstone are PE Firms, you don't need to have worked there for starting a business.
By doing an MBA you will have to climb the ladder, which is so steep and long, you will hardly cross "upper middle class". Then you will be too old to handle a new startup.
if you wanna be a billionaire, you should do business, you need not even have to be a qualified MBA grad. Having aided in early fundraisers recently, I can offer some advice-
1. Start something attractive that can be marketed online easily and quickly.
2. Be active on all social media, and make reels, videos etc. on the product/ idea prototype. This is sheer luck but must catch the eye.
3. Please only include partners, if you can trust them with your life. Because if you wanna be a billionaire, you cant have everyone becoming one too.
4. Get you first seed funding only after you have sufficient products out, this requires lot of investment in marketing, so bootstrap well.
5. Once you see steady revenue take on larger fundings and then you can get a better advisor :)
So again, they do not have anything concrete to spend. Take loans and pray your company doesn't fail (and if Lehman and Bear sterns can fail, these new age chintu billionaires are nothing).
Wealth primarily based on shareholding in a company is great but it’s not cash in your hand and there is always the possibility it all goes to 0.
Bigger and more respected companies than zero dha have collapsed spectacularly. Not saying it will happen to them but risk is inherent in business.
So apple meet orange.
Again, these newly made "billionaires" are billionaires only because of valuation of their own stocks, which they cannot liquidate and can go to zero very quick. Nikola had a billion dollar valuation too. Where is it now?
Also, anyone would rather be Salve than Mallya. At least you can travel to whichever country you want, freely.
It's 99.99% impossible for a person with a hundred million stake, even in one company, to get it vanished. The 0.01 is a stake in crypto exchanges, corps, highly crypto invested companies, virtual art scams etc. Even then, the biggest shareholders usually hold a lot of assets under offshore Personal trusts, even salve had done that ( Panama papers).
But yes, salve could and must be a lot richer than the basic calculation of 365 × No. Of hearings per day on average accounting for case load seasons × 15 to 20 lakhs
I know lawyers don't respect first generation people, but have some soft corner for N here as an exception.
and thinking lawyers don't run the show - in the business sense, yeah, but someone at the level of Salve will always have the right connections that run most of the things around you.
But nobody becomes a lawyer with the aim of becoming a billionaire. Lawyers may not make billions but they can certainly make multi millions which is way above what an average Tom, Dick or Harry can earn in their lifetime.
People become lawyers mainly for intellectual passion and money also follows the deserving ones.
Eg - After retirement, you may not know anything about Harish Salve's practice or firm. However, Zerodha would be controlled by any family member of Kamath family, they will add on to the business revenue. Salve's revenue/fees will stop as soon as he retires.