Kunal Shah on Building Cred for the future [Exclusive Interview]

[@prithvirajshinde5777]

These types of people should be considered as heroes there are lots of positive things to be taken from him. Sadly we grew up watching bolllywood. this type of content should be must for school and college going students.

[@sudipchowdhury4082]

Exactly...🙏

[@harishmanmohan9858]

One of the best ‘no show off’ conversation. The host also needs to be appreciated for asking simple and sensible questions .

[@pallabbiswas947]

What is the name of the hostess?

[@Stocksplit1997]

PALLAB BISWAS shradha sharma , founder of yourstory , she is quite passionate about startups

[@OoltaSoch]

@@pallabbiswas947 she is the founder of Your Story startup

[@Vivekkumar-jk2sn]

I watched his podcast on beerbiceps and became fan of this person, continuously watching his interview and lectures for last 3 or 4 days on KZbin. Really, he is very intellectual person.

[@SreekantShenoy]

Same :)

[@hemishshah6666]

In the process of the same :)

[@dereksilvers9177]

same :)

[@christianstaffone8428]

Same bro

[@muneebahmad6518]

1 year later cred is an IPL sponsor and has roped Anil Kapoor as Brand Ambassador...Kunal has delivered what he promised....

[@ajaymadhavan4606]

If roping in Anil Kapoor means delivering value, then we need to rethink what a business means :)

[@imtotallyseriously]

Cred has probably created a high trust network of individuals, though they haven't shared any data with the public that proves so. However, they have yet to figure out a way to make money from that network. Currently, they generate interest revenue by accepting your CC payments and paying to the bank a couple of days later. I'm not sure they even have a business model as yet. Kunal has done a great job in selling an idea to VCs. How that idea translates to money, or to value to shareholders is yet to be seen.

[@ajaymadhavan4606]

@@imtotallyseriously yeah, That's basically a platform model drives utility using customer base and selling that info to supplier i.e. merchants in this case. As he said he needs to attain a critical transactional mass and then can pivot the product to anything he desires. I'm curious to what he has promised the VC's on the product vision is, until then he is burning money.

[@bhavikthakar8241]

But delivering profit is also key point. Is CRED profitable now ?

[@sociologyphysics7293]

@@bhavikthakar8241 Probably not

[@DavidPeterJW]

25:11 This is the moment he proved he is not just an Entrepreneur but a Philosopher. Great explanation.👏🏻

[@vikrantshukla94]

Kunal Shah is going to make it to a UNICORN club soon! #creduser

[@GoodEnough99]

Stop using this shit... you will be scammed

[@newjersey179]

@@GoodEnough99 Why?

[@xman6267]

Ya with billion of losses 8 am sure they will beat all other " startups"

[@SaiAnanth]

He did work 2.2bn valuation

[@vikrantshukla94]

@@SaiAnanth My prediction went true...

[@Vivekkumar-jk2sn]

Happiness is flawed concept.. True somehow

[@pranit1015]

I found this guy very inspirational and amazing. Looking forward to watching more of his interviews in future

[@sougatamajumdar8283]

how safe is cred?

[@sagarptw]

the examples in this video are over 9000

[@sudheerdevalla1]

Great insights. Definitely inspiring.

[@ThroughBirdEye]

I using this and thats why i m here

[@rajiv8k]

23:37 Some degree of socialism is necessary in a country where the wealth gap is as vast as it is in India. Letting capitalism run unfettered and waiting for the market forces to be the only balancing force leads to un-necessary human suffering. Whenever there is a market crash often caused by greedy practices in capitalism, it's the poor that go hungry. Not the rich.

[@hjhjkoko1955]

Chup

[@rl1900]

That calls for checks and balances not some shitty socialistic bs. Countries who avoid market frauds and loan frauds do it by puttinh in checks and balances and not by nationalising banks

[@JohnJoseph-pu8br]

As of now CRED seems to be an useless app, atleast in its form of being a credit cards payment enabler. The cred coins are mostly useless.

[@ameyaenterprises2839]

Mam can you take Interview Mr Nitin Gadkar not as political

[@doceclectick]

The ability to ask dumb questions is a Superpower. -Kunal Shah

[@doceclectick]

Petty questions that sound dumb are often important.

[@kindofanmol]

‎‎ *_let's just do a simple voiceover like "download Cred"_* ‎‎

[@Shreymani2]

😂😂👌

[@nachiketn8032]

I didn't like that ad tbh.. it's too obnoxious.

[@roshnic8918]

facebook.com/potterswheelmedia/photos/a.133036573916377/778236606063034/ the best digital marketing agency

[@VEDANTKOTHARI1]

When every question is explained with an example..you understand the worth of that person 🔥

[@spiral1241]

Lol kabir das was idiot according to u

[@akjain1997]

The only interview where I understood both questions and answers ;)

[@prashantmd37]

Download from below link and get 250rs CB make your credit card bill payment on CRED and earn exclusive rewards from Uber, Amazon, Flipkart, and more. it pays to be good cred.onelink.me/spQx/2c9a7b16

[@aurosaha]

Absolutely!

[@shanushankyy]

Such great clarity of thoughts! A man to be followed

[@shobhitvijaivergia1809]

The way he comes out with examples so spontaneously is amazing, helps rookies like me to understand what he is talking about. Great guy!

[@yuktapalekar]

kzbin.info/www/bejne/mIWzl4d4fp1qj9k Kunal Shah short video

[@spiral1241]

Foolish people like you only use his foolish apps which creates no value for humans

[@dasunudas3661]

This is why young founders love YourStory. Interviewed him just at this crucial time to understand his mindset.

[@KinshukJoshi]

Frankly, I love the way shradhha goes on asking her questions.. Extremely inquisitive, yet simple way to ask... It is difficult for person answering, avoiding her questions... Love the way, she is building her company, hope to meet her in person in this lifetime. 🙏🏻

[@anoopmaheshwari6592]

What a guy he is! Such business proficiency with acute acumen is rare to find. He candidly answered all questions with real examples. One of the best business talks I have seen so far. Hope he takes care of his health too

[@kvs1671]

'Happiness is a Flawed Concept" - Kunal Shah 25:10

[@chetanshet10]

Cred needs to work on their cashback by burning the cred coins. it's kind of scam, what they got.

[@nohandsignal]

its literally is, initially each and every fintech co. gave discounts until everyone gets used to it, then the best thing they`ll show is the cute lil middlefinger, everyone knws this, just like jio they want every middleclass people to used to something first because this middleclass spends they won`t go back, 199,299,399....... you spend they prosper and pregress

[@rajs067]

Unpopular opinion: Anyone noticed how much he said “this country”? Sad that people who want our trust are thinking from an outsider perspective when it comes to our country. Nowhere else entrepreneurs feel that about their own country. You lost my trust. I don’t think I can use cred anymore. Your trust score is super low now.

[@AshikJonathan]

Sridhar vembu is an exemption

[@rajenderreddy3239]

Agreed

[@NikhilKumar279]

I think its because he considers himself as a global citizen.

[@rajenderreddy3239]

@@NikhilKumar279 like Vijay mallya , so that he can cheat any country, just joking bro🤣

[@NikhilKumar279]

See idhar hi to trust issue he bro.....india ko pyaar kare ya nhi....but Indian ko leke observations sahi hi he uska

[@AshishSharma-qj4kq]

My biggest takeaways from the video- Wealth is not a zero sum game, wealth is expanding. Building a community is the way to go. Thanks kunal sir, keep creating and inspiring.....

[@everything101]

He's applying the 80-20 Pareto Principle.

[@guharup]

peter thiel, power law

[@samarthsudarshan4868]

Yeah!!

[@Abhyuday_rai]

What's that can someone explain me

[@ramcool82]

Well he's full of ideas and talented. But do I want to get awarded for paying my credit card bill? No. Do I feel to install one more app on top of bank applications? No. For me it's too much hassle for something which has very less importance to me. There is no fun or feeling to get awarded from paying bills. He should have gone for some genuine product rather than being intermediary to something like this. Still all the best.

[@RaviSharma-du2mp]

What if I tell you don't need to keep other bank applications if paying card bill is the only thing you use it for. That said, have you seen what Cred is? It is much more than just paying bill. It's being part of the trusted community.

[@ramcool82]

@@RaviSharma-du2mp well i set 'autopay' for every credit card i have with respective bank account, so paying credit card bill in time is not a big deal. also i dont think this can be a genuine problem which needed to be solved. and being part of trusted community etc, no man, no time and no interest, one more site to register, one more password to memorize, we have enough already. rather i would say it will be useful if cred saves all my credit cards data and when i do any payment just use one of them and make payments easy, ah, they should be a payment service. then i can have lot of use for them. what say? but again there is googlepay.

[@RaviSharma-du2mp]

@@ramcool82 phewwww... It's just not for you. People don't try anything but are quick to give reviews without understanding a damn thing. Have fun with your existing apps. Creating community of high trust individuals is so that later they can do business with/help each other. It's about creating more entrepreneurs. But no worries Sir, why should one take the pain of registering at all. Life's good. XD

[@iqbalsingh6425]

I am an uncle like what Kunal Shah says. What happened to Credit Scores. We have Experian and what not but a 850 points credit rating doesn't matter to me since I am not likely to take a loan anyway. The business Model will crash like a Led Zeppelin.

[@syedjafferimam5789]

*"The ability to ask dumb questions, I think is a super power"*

[@emmanuelezele7281]

lmaooo

[@IsaacMIT]

One of the few interviews that I really enjoyed - so many of the points resonated within me AND I learnt quite a bit as well. I think I'll have to watch this at least once more. Thank you Shradha.

[@prithvirajdj]

Kunal Shah talks straight to the business! Fundamentals. No shit. ✔️ Recommended watch: Find your pot of Gold

[@hritikbangar4341]

Loved him identifying himself to be a learner rather than thinking himself to be extra-ordinary

[@rajbangera3842]

Blunt # Futuristic # and Very Open Loved the Interview!! Hope to see Cred Grow and learn more from Kunal!! And I Believe it's time the younger generation should Change /Shift their focus to derive inspiration from Actors Sport's Personality and Preaching Sages.. to Idealistic Business Man who really wanna to see India grow and that too in Reality and not Virtually.. 👍 a Big Thumbs up!!;

[@redraga]

Replace the word “high trust” with “high net worth” - because that’s what CRED essentially is. It’s an app literally gated by credit score and bank balance Talk about euphemisms!

[@namangupta342]

Much underrated comment!

[@ajaymadhavan4606]

Great point, I'm guessing from my vantage point here, that he is following the Tesla/Uber model: Start with premium customers then build portfolios for mid to low tier segments. Generate good numbers for the initial product then build for mass market.

[@prabhakart1]

Good to see this comment. While watching the video, whenever Shah said "high trust individuals", I said to myself, "high value individuals".

[@gitmlife10]

Still it’s a good idea to build upon, and eventually once a working model develops, he can be the bring the masses.

[@anandpatel7191]

I beg to differ ragavendra, Doesn't that mean If person have high credit score and good bank balance ; you can trust that community financially. You can make any financial transactions where trust is the issue. Like he said renting house, doing buisness, sharing ideas

[@SMD.Shorts]

Reward structure needs to be improved. Amazon,flipkart vouchers is needed. Recharge and bill payment coupons would be great. Interestingly there is no other app like CRED as of now. Probably we may see something else? Lets see how it goes.

[@anujdev22222]

agree.. cred coins aren't much useful as of now....lets see

[@shahryar1673]

So cred sells/uses our transaction data to earn money from other companies to whom that data is helpful. Right?

[@SMD.Shorts]

Their reward program is not good as of now . They did not improve it either. They should allow to buy the cashback coupons by using the reward points.

[@fmpranav]

He has hung on one business model.. just give coupons for spending or using platform. Where is innovation. It's just one business model he has hung on to, paisaback, FreeCharge, and now credit card payment rewards. Next startup is pay electricity and water bill get reward point, you know it's a niche market. Business models are coming in the name of startups, but India still lacking by large when it comes to innovation. And between for credit score Cibil already exists. This app just aggregating info and trying to create own database and collect customer info. All these days we were blaming google for collecting data, but such small startups some how sneak under the carpet. Between, flipkart was result of pivot, amazon as well. Both were book sellers.

[@RajeshKumar-uq7yz]

Yes you are right.. he is earning by sitting on other people's financial data and giving interviews like he have built something uniquely.. anyhow he is going to sell these information to all the product owners.. already in CIBIL we will get all these info.. he will also might be rotating the liquid funds in name of paying credit card bills for the customers... ..

[@Nobo_On_The_Rocks]

Where the fuck did this guy drop from?? Amazing.. 💪♥️

[@gauravnigam7731]

Please do such interviews in hindi, big number of population is hindi speaking. It will also benifit rural people

[@jigarparikh1984]

Ths will file for bankruptcy sooner thn a lot of ppl think...no business model...no revenue generation...

[@manansharma6348]

why

[@NileshAkhade]

With Cred, they are building network of trustworthy people. What they are going to do with them? - They can offer loan to people from the money collected from other people - They can offer discount to people, who likely not to buy the product

[@parthaprateempatra4278]

A great interview..he is thinking long term and will eventually pull out India of the old norms and the stagnant economy. You dont need to generalize a product for everyone. Make the product desirable and showcase it's benefits and inspire people to work hard

[@newjersey179]

In india not possible.

[@ArtisticVision]

I always wonder some people have so much knowledge on so many things..but they don't understand simple thing of taking care of their health...

[@SMD.Shorts]

hehehe that is the pinch...

[@vikrantshukla94]

It may be genetic too...Refrain from commenting like that. He may lose weight in couple of months but you cant create a startup in 2 months! Agree?

[@SMD.Shorts]

hmm rightly said

[@doceclectick]

He doesn't like homework.

[@imlkr_]

And I always wonder why average people focus on just basic stuff like maintaining health which is just a matter of months... Focus on building something useful to the society!

[@Nanami_X_Higurama]

Can anyone please explain how Cred actually works and makes profit ?? Please elaborate 🥺🥺,

[@Tubingonline1]

Thoroughly enjoyed this. My best new channel on KZbin. Loved how Kunal mixes and sprinkles a few Hindi words while speaking in English.

[@MRI19998]

Trust is created when you allow the option to delete cards in Cred application

[@MRI19998]

@jami0070 no it isn't

[@mayurgupta136]

Informative, this guy is trying to build business by understanding the nerves of Indian Customer and their mind set. This business model has great potential as by privileging the people those who are following the rules and laws strictly and this data will be used by every business to provide best services to people's belong this community.

[@venkatmahesh1190]

Now I understand cred

[@tusharkathuria9]

Sab farji wada hai..baad me pata chalega.. bas abhi to invester ka paisa phuka jaraha hai.. issi ka show sha hai..

[@RKBengaluru]

Very good insights, this is a must watch for all start up Entrepreneurs.

[@adityapatnaik7078]

In my opinion , this guy looks so unhealthy

[@udayprabhu8351]

Kunal Shah comes across as a intelligent, humorous, philosophical, trusty worthy person! Shraddha Sharma , as usual, is at her very best👍👍

[@neelambachal]

Loved that... fasal nahi banti muscle baan jate hai.. business muscles..👍

[@dibyajiban7226]

One of the best interview I have seen in KZbin.

[@hemishshah6666]

Same here He is sooo inspiring 🤩

[@trixonx]

Nice interview, but the interviewer is such a fan girl. Feels almost like she has a crush on him.

[@ShabrishMenon]

We learn from expensive mistakes. He learnt from his mistakes building freecharge for the mass market with DAU and MAU. But someone else paid for that mistake. When to exit a venture is also a skill and Kunal knows that.

[@SurajRhere]

@blisteringheightsofstupidity Daily Active Users and Monthly Active Users

[@rl1900]

Who paid for it?? It was an all cash deal and employees cashed out esops and worked under snapdeal?

[@nitishbhatia25]

Kunal, the thing u r saying about capitalism. I have friends who have passed out from IIM and are in corporate jobs cursing capitalism and favouring socialism/Marxism. Our education system is so redundant, hope its fixed by e-learning platforms and aware parents who know whats important for their kids so that next generation doesn’t turn out to be so ignorant of market economy.

[@shreyas.kulkarni]

In a country of freeloaders (only 1% direct tax payers), the only 'ism that can work and make the country prosperous and livable, is the 'ism that favours merit.

[@rajsaraogi]

Reward system causes harm in long term, it's so easy to lure someone and get his details. Just think is it self sustainable. Any other individual could not have survived with such business model.. It's further can be related to what freecharge is now. He founded freecharge, then sold it as it was known that it couldn't earn profits. CRED seems the same. And that too worse, just read the reviews on play store.

[@shreyas.kulkarni]

I don't think he is playing any rewards game here. You might want to watch it again.

[@AjitJoshi686]

He is looking so different. I did not recognise him though had met him thrice in 2014~15

[@bakshiparv]

Kunal shah is a legend

[@17pradeepjena55]

Tru tho 😊

[@massive_d]

Go after Gaurav Sen he will be perfect for cred

[@ok-dj9zf]

After The Ranveer Show

[@sonetsamuel4328]

CRED even respond on Google Play! Keep up with the Customer Service.

[@sanjaybadnayak]

Kunal sir 🙏🙏🙏thanks a lot for cred.. Really happy... Specially cred cash... It's amazing

[@lastjedi2942]

Great talk! Thanks Your Story, Loved it! P.S. Kunal can reach to any/most people he want because he can. But a common man can't do so. It would be a zero sum game when meeting a common/ rather unfamous person but not when meeting him.

[@artisticengineer4769]

21:36 he mentioned about @tanmay bhat

[@susantakumardas6097]

Good evening. I m trying to use CRED Membership but every time it is been told that you are waitlisted. But I pay all my EMI / Credit card bill in full and that to on or before time. Your basic criteria is credit score. But the credit reporting in India is very bad and defective system of reporting. As I m monitoring my score identified and taken to the notice reporting financial institutions but they hardly brother to rectify. I request you to work in this direction people' like us can use CRED. Thanks & Regards

[@atulpj]

Kunal reminds me of the kung fu panda. 😅

[@vivekram8422]

YourStory takes 5 lakhs for an article

[@mohan72639]

Now, i understood what for cred is evolved.. CRED stands for Credibility...All the best kunal. Hatsoff to you to your aspirations.

[@harshg509]

Don’t make payment from CRED app it’s another kind of fraud - it has payment issue , they will give incorrect UTR number and ur payment will settle in some other person account with same UTR number. #Fraud

[@KedarnathGupta]

Lovely chat! You should do more of these Shradha. I wanted to check out the app/website though I don't use a credit card.

[@rammani7170]

I’d like to hear what he thinks about crypto.

[@ssamiuddin1]

"... the right combination of paranoia and curiosity is what keeps me going."

[@rishahuj]

Trust is a 2 way street. Trust can't be expected from users when CRED has full access to my emails, card statements etc.! And without this full access it (reminders etc.) doesn't even function! Fail to understand how people sign up with CRED.

[@hitendrakarotiya101]

Its bcoz master card, visa and other card providers ( apart from amex) are not sharing data with them, even with users consent. So thats why they try to identify your bill by filtering through ur gmail. Im not saying nothing wrong can be done. But the risk/ reward is not apt. You don't start a company just to sell users credit statements to advertiser's Advertiser's already have your credit statements through google( google is advertising company) . So yeah, it would be career suicide to give people's data at any price. But doesn't mean nobody can commit suicide

[@rishahuj]

@@hitendrakarotiya101 , agree on most points. But sorry, don't think advertisers have my credit card statements. Advertisers are interested in the profile of the user (stuff like city, credit limit, credit rating, spending habits etc.) They don't have the time nor expertise to analyse card statements. That's where aggregators like CRED who do this data analysis job come in. They then sell user profiles to advertisers.

[@kapilkhade4423]

The host should start producing podcasts

[@shreelaxmi1000]

excuse me?? I dont understand this analogy "we are more likely to watch a celebrity's son versus a new-comer" ? why?? it's not relevant here and for sure nepotism will end in a few

[@SMD.Shorts]

Allow to buy extra kill the bill coupons using reward points.

[@Lucky.assertive]

He should focus on his health - Overweight visibly. All his wealth will leave behind if he dies early because of poor health!

[@koderkashif]

He's focused more important thing than just health. Chasing health & wealth is for normal/indifferent people like you.

[@aalhadbapat3489]

@@koderkashif isn't he chasing wealth?

[@track0123456789]

simple to the point conversation. I will now check CRED, just because i appreciate this straight clean interview.

[@quadraticequation8196]

Download Cred Baby!

[@selvakumarmurugesan9013]

Everything is Okay. But their website copyright year stuck in the past 2020. It is overdue.

[@pankajmazumder2860]

Don't you think etherum (or block chain) smart contracts is your threat ?

[@ravindertalwar553]

INDIA IS GREAT AND STRONG DEMOCRACY IN THE WORLD BECAUSE INDIANS ARE SPECIALLY BLESSED WITH SKILLS, HARDWORKING, HONEST AND HUMBLE

[@udbhav27]

This guy is probably ome of the luckiest individuals in that he cashed out of Freecharge early. Bhansal invested a stupid amount of money and lost 90% of it in 1 year. This guy is a glorfied hack. Sorry, but he has no vision and is relyimg solely on his VS network to advance his cause.

[@dreadpirateroberts94]

In US insaurance cost doubles or triples every time a person drives bad. Happiness is a flawed concept.

[@EuphoricMelody]

The ability to ask dumb questions is a super power.

[@ketkarah]

Straighforward, yet profound understanding of principles by the founder. His experience speaks volumes. Great mind, I must say. However, when he implies that in capitalism the concept of MRP shouldn't find a place, and that rich should pay x times more than say middle or working class,isn't it penalizing the rich for being rich and discouranging people from becoming wealthy? May be I am interpreting his statement in black and white, but nonetheless. Even USA doesn't impose so many costs on the rich, except of course taxation.

[@rajnikantyadav1315]

you are really inspiring without tech background you are in tech thats great great sir we always learn a lot from you when ever we listen you be it on facebook , twitter or youtube

[@deyshubho75]

Bande main hain dum. this is the new india everyone is dreaming off. We are not far away to become the most valuable country.

[@anthonyyesudas]

Probably this is the only interview that was so simple & easy to understand.

[@MrHimanshun]

_So to be honest first I thought he founded Snapdeal, than I came to know that he actually founded Freecharge (which btw I still use) and then watching this interview made me respect this guy even more. His opinions will now hold a high regard for me. Thanks for this insightful Interview YourStrory team_ 🙌🙌

[@BuzzzTedWeb]

Kunal Sir is an institution altogether. Awesome 🙏

[@ek_virus]

CRED is the future and For next few year I can't see anyone whi can take risk like this.

[@VineetSirPodcast]

3 types of people in your life & Rule of 33% - Hindi Episode kzbin.info/www/bejne/r6mzpIZ8bN56ha8

[@mahavirdanbarhatt3426]

He is talking about Pareto Analysis... 20% do 80% things!!!

[@parmeshawaradmane3032]

I understand CRED much better then their ads cause of this interview.

[@amarpawarfilms]

the ux is so great on this app, love it.

[@naeemf6019]

I swear i installed it yesterday just to see the UI/UX and i was just blown one of the best

[@amarpawarfilms]

@@naeemf6019 yeah it is fun..