Month: December 2008

First name basis

1. I’ve noticed that people in the South use first names much more commonly than in the North. I can think if a simple explanation for this – south indians either don’t have family names (tn, old mysore) or have unpronouncable/hardtoremember family names (andhra/kerala). so a south indian Siddharth Tata is likely to introduce himself as T. Siddharth whereas a north indian Siddharth Tata is likely to say S. Tata.

2. I’ve noticed in my extended family that concepts such as “aunty” and “uncle” made their entry only in my generation. I’ve never heard either of my parents using either of these words, or any of their Kannada synonyms. Everyone is addressed by their first name, irrespective of whether he is nephew/cousin/uncle/granduncle.

However, this firstname thing stops at the family level and doesn’t extend to work. People unrelated to you instinctively become Sir or Madam (this is in my parents’ generation. I don’t know how people in my grandparents’ generation addressed unrelated people). In fact, all of my mom’s male colleagues used to address her as Madam (or I should say may-dum).

I don’t have data to support it but it is possible that this Sir business has something to do with the British Raj, and wasn’t common in South India before that. I don’t know how far back the “ji” system in the North goes (i know it goes back at least as far as Gandhiji), but my general sense is that it is fairly ancient.

Ok – so – here is the hypothesis. We Indians are not hierarchical at the family level. Despite all talk of “don’t question your elders” and similar sundry stuff, I don’t think at the family level we are inherently hierarchical. However, go beyond the family and the caste system takes over and brings in a social hierarchy – which is why everyone outside the family becomes “sir”, etc.

Bangalore Photowalk 5

Ok. So the Bangalore Photowalk has been resurrected. You might recall that I stopped coordinating them after I moved out of Bangalore, and Shande who had volunteered to coordinate had been out of town, and so the Photowalks had come to an abrupt end.

Anyways, over the last few days, the photowalk yahoogroup has seen much activity, with people demanding a photowalk. And the people have gotten together to give themselves and the rest of Bangalore one.

This will happen tomorrow evening, along Brigade Road. The group will assemble in front of the defunct Opera Theatre on Brigade Road (you might recall that Photowalk 3 had also begun there). Since I have moved out of Bangalore, I won’t be there. However, the response to this photowalk looks enthusiastic and so you can expect a good crowd.

Details:

Starting point : Brigade Road – Residency Road Junction.
End point:         Commercial Street

Starting Time : 6 pm

Check this google map link for details.

http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&msid=106135947463286202488.00045f40af5e0f4a91835&ll=12.976415,77.609868&spn=0.018735,0.027637&z=15

As per map, the distance is around 3700 feet i.e. just above a km.

I encourage you to land up at Brigade Road tomorrow evening along with your cameras. I’m sure it will be a lot of fun.

Thanks to Anita and Shande, among others, for putting enthu to resurrect the Bangalore Photowalk.

Location matters

The other day in my office we were discussing recruitment. I pointed out that placements this year in the IITs have been particularly screwed. We haven’t decided if we can wait till July for the new recruits to join, but if we agree that it’s ok, we might recruit from IIT. Given our size and meagre requirements, if we do recruit, it’s likely to be from IIT Delhi. The CEO happens to be from there, but that won’t be the reason we might be  going there. It is simply to do with cost.

A number of people think that good colleges can lead development. I’m not sure if that is the case. Unless there is a massive cluster of colleges that comes up in some place which makes it attractive for people to set up industries, which can then recruit from the colleges. Until that happens, and you never know how long it will take for that to happen, the students in these colleges are effectively screwed. At least much more screwed than those in colleges in better locations.

For big companies it doesn’t matter. Their recruitments are such that they can’t possibly make do with taking people from the closest IIT (since we’ve started talking about IITs, let’s keep that as the standard). They will need to go to every IIT. And recruit from all  the places, irrespective of how much it costs them to recruit from there. So you will have people talking about big names that go to different IITs. Big companies with big names. I don’t think there will be significant inter-IIT difference in there.

However, where the students of remotely-placed IITs will miss out on is in terms of small, and maybe growing companies. Companies such as ours. We are located in Gurgaon, and might not need more than a couple of people. And from a simple cost perspective, there is no reason we should step out of Delhi for our IIT Campus recruitment. If we were located in Bangalore or Madras, and wanted to recruit from an IIT, we would’ve gone to IITM. It is about cost. Total cost of recruitment, measured against expected quality of candidates. So we go to the closest and most accessible IIT.

During my time at IITM (2000-2004), there were hardly any non-software companies that came to recruit. There were a few “big boys” that came (McKinsey, Levers, etc.) but they were large enough to go to every IIT. Not-so-large financial sector companies that were based in Bombay would simply just recruit from IITB. Outsourcing companies based in Gurgaon would go to IITD. The south had (and has) mostly software companies, and they would recruit from Madras.

Then there is the accessibility factor. Now, if I were to decide that my requirements won’t be fully met at IITD, and I want to recruit from a couple of more IITs, I would probably intuitively go to Bombay and Madras. Simply because they are well connected by flight from Delhi, and have good hotels to stay at if I want to interview over a couple of days. I’m not even sure if Kanpur and Kharagpur have airports. And I definitely don’t fancy staying at hotels in either of these places.

Popular notion is that IITs at Bombay and Delhi have traditionally had superior placements compared to other IITs. It is simply because they are located in superior places (Madras might have also been there but for some reason has historically shown a tendency to send most of its graduates to the US, because of which local recruiters don’t fancy it too much). Even if you are the smartest guy in Kanpur or Kharagpur, there is a good chance that you might lose out to a much less smart and much less hardworking guy than you in Bombay or Delhi. Simply because they are more accessible.

There is of course the contrarian viewpoint. Low supply of jobs at the less urban IITs means that as a recruiter, I should find it easier to get better people there, than I would in the IITs in the big cities. Again, it depends on how much incremental value I place on the “better students” at the less urban IITs. In most cases, however, it is likely that I would find that this incremental value wouldn’t justify my costs, and end up going to an urban IIT.

So who would recruit from the urban IITs? Apart from the big guns, of course. Think of institutions that don’t require a face-to-face interview for recruitment. Graduate schools. Large software companies which recruit without interviews (based on a test, etc.). Foreign companies that interview via videoconference. And I hear that nowadays, McKinsey has started flying down its shortlisted students from non-Bombay non-Delhi IITs to its own office and interviewing them there – maybe a few other extremely quality-conscious companies might emulate this model.

So if you have just passed the JEE, and don’t know which IIT to go to, you might want to keep this in mind. I know that at 17, you want to go to the IIT closest to home (at least, that is the reason I picked Madras). But keep this at the back of your mind – going to an IIT in a bigger city is definitely going to give you better options after your engineering. If you are extremely sure that you want to do a PhD in your chosen branch of engineering, then it doesn’t matter. Go anywhere. But if you want to keep your options open, go to the big cities. Bombay. Delhi. Madras.

PS1: In this post I have used IITs as only an indicative example. This applies to all colleges, irrespective of area of study. Basic moral of this essay is that if you have a choice between similar colleges of similar reputation, choose the one in the bigger city

PS2: I have no clue about our recruitment plans. I don’t even know if we will recruit. If you are a placement representative, please DON’T bombard me with “can you recruit from my IIT” mails. If we want to recruit from your college, we will get in touch with you.

PS3: Has any of you observed that if you consider Kharagpur as being close to Calcutta, the location of the 5 IITs are the same as the five cities where Test cricket was played in India in the 1950s. Maybe if Kharagpur hadn’t come up in 1950 itself, it would’ve been set up somewhere close to Eden Gardens.

What rate of interest did Kubera charge?

It is fairly well established that Tirupati Venkataramana (it is Venkataramana and not Venkateshwara – remember that it is a Vaishnavite temple) took a loan from Kubera in order to finance his wedding to Padmavati. And till date, Venkatarmana has been soliciting contributions from visitors to his shrine in order to help him pay off this loan. Given that the loan was for the purpose of getting married, I think we can quickly establish that it was a Personal Loan. What I’m trying to figure out, however, is what rate of interst did Kubera charge Venkataramana.

For starters, I think somewhere in our scriptures, we can find out the amount that Venkataramana borrowed. Rupees didn’t exist in that era, but I’m sure we can find some figures in terms of gold, or other commodities. And we should be able to estimate the rupee value of this loan by suitable backward extrapolation.

What might be slightly tougher is the time period. When did Kubera exist? When did Venkataramana exist? When did he get married to Padmavati? The date is important, for we should know how many years to discount for when we do the IRR calculations. However, I’m sure that with sufficient effort, we should be able to find the date of this particular transaction to the nearest millenium.

Then, there are the loan repayments. Let us assume that Venkataramana is in general a poor man, and his repayments can be approximated to the amount of offerings he receives from visitors to his shrine. Catch a few people sitting for McKinsey interviews, and estimating this amount is also not going to be very tough. We should be able to get fairly accurate figures for the last few years, and then we should be able to appropriately extrapolate backwards accounting for various regime changes (I’m assuming here that the temple, for whatever reason, will refuse to cooperate in this noble endeavour – else we can get the repayment amounts from the temple books).

We also need to remember that the repayment is not complete. People still contribute generously to the Venkataramana Personal Loan Repayment Fund. However, if we assume that the loan has already been repaid, we can get a floor on the rate of interest that Kubera charged. It is intuitive right – that if more money pours in, the interest rate would’ve been higher? Let us also assume that there were no repayments till about five hundred years ago, which was approximately when the temple was built. Assuming zero repayments till then, it again gives a floor on the interest rate.

Obviously, I don’t already have any of the data that I’ve mentioned here, so I can’t actually do the calculations. However, if McKinsey decides to solve this problem, they can do so in March during their interviews at IIMs. My prediction, however, is that the rate of interest will come out to be a number which, in normal circumstances, would be found to be usurious. Thus, we might probably be able to show that people are contributing to funding a greedy usurious rich moneylender when they contribute to the Venkataramana Personal Loan Repayment Fund. I don’t know what further use this might be put to, but I think the process will be an end in itself.

On a closing note, I would like to point out the greatness of our culture – which, even in mythological times, could boast of complicated financial products such as Personal Loans. This one factor, I think, is enough to show that our Indian culture is superior to all other cultures.

PS:  Sometime back, I was wondering if the Venkataramana Personal Loan Repayment Fund could be the largest money-laundering operation in India. However, a little thinking revealed that our political parties are definitely far far ahead when it comes to that.

Tenure matching and jab we met

ok this is one of those lazy posts. Takes two earlier posts and finds a connection between them. This is the kind of stuff that bad professors do – take two old papers, find a link between them and publish a third paper. I do hope to become a prof one day, but I don’t hope to write such papers.

if you remember my review of Jab We Met (which I wrote about a month back), I had said that I hadn’t liked the ending. I had said that if I’d written the script, I’d’ve made Anshuman a stronger character, and made Geet marry him; and have Aditya walk away into the drizzle. I had said that this was because Aditya and Geet had added as much value as they could to each others’ lives.

So, now, if you look at it in terms of tenure matching, things will become clearer. Both of them had their own problems, which needed solutions. And neither of them had a problem for which the solution involved marriage. Ok wait. Geet did have a marriage problem. She wanted to marry Anshuman, and needed to find an efficient way of eloping with him and marrying him. So looking at it from the scope sense, all she needed was someone to guide her in her efforts to do the same.

Aditya’s problems, too, weren’t something for which marriage was an obvious solution. He had put extreme NED at work, and was on the verge of killing himself. All he needed was someone to guide him out of NED. Someone to show him that life can be beautiful, and happy, and that he shouldn’t take any extreme steps.

Looking at the movie from this context, it is clear that marriage between Geet and Aditya wasn’t warranted. Ok it might have been a “no-so-bad extension” but it wasn’t required. It wasn’t a solution that fit in any way with the problems that they were facing in their lives. Which is why the ending stuck out like a sore thumb (and that excess song-and-dance and loudness and all that contributed in no measure) .

Ok now I realize that I shouldn’t be analysing Bollywood movies from a logical standpoint. but still…

Tenure Matching

One of the fundamental concepts of finance is to match the tenure of assets and liabilities. That the tenure of source of funds (equity, debt, etc.) need to match the tenure of what they are used for. So, if you need money to tide over till your next payday, you need to take an extremely short-term loan. If you need to borrrow to fund a house – an application that has a long tenure – you need to take a longer-term loan. And so on.

In fact, a common refrain about banking crises is that they happen mainly due to the tenure mismatch – banks borrow by means of short-term deposits, and then invest these in long-term loans. Most theories regarding liquidity crises cite this as a common problem.

Now, my contention is that this banking/finance rule is just a special case of a much larger rule in life. Remember that funding, or raising money, can be looked at as a “problem”. By classifying it as a problem, I’m not necessarily saying it’s a very tough problem. All I’m saying is that it’s a problem. And when you do raise money, it is a solution to the problem. Thus, the generalized form of the rule

The tenure of the solution needs to match the tenure of the problem.

So before you look for a solution for any problem in life, you need to first figure out about the tenure of the problem. And then generate a list of possible solutions which have similar tenures, and then pick the best among them. And based on my limited anecdotal experience, most people don’t really appreciate this concept when they suggest, and sometimes even implement, certain solutions.

So on Monday I called up a friend and told her that I was going through a strong bout of NED and we should meet up. She started philosophising and said that this is a fundamental problem and that I should think of a fundamental solution. That I should get a new hobby, or learn a new instrument, or some such long-term thing. Of course, I know myself better than she does, and so I knew that my problem was short-term, and so all I needed was a nice evening out. A short term solution to a short term problem.

On the other hand, during my previous job, I used to go through prolonged periods of NED. A little analysis revealed that the fundamental reason for this NED was my job, and that until I got a new one, I wouldn’t be happy. It was a long-term problem that deserved a long-term solution – of finding another job. However, most of the advice I got for my NED was of the nature of “go get drunk, you will be fine”.

My mother also doesn’t seem to appreciate this tenure concept. Nowadays I’m afraid to crib to her about anything, because if I crib, she assumes it’s a long-term problem and suggests that I should get married and that she’ll intensify her efforts in the arranged-marriage market.

Yes – people not appreciating this tenure concept is a long-term problem. The solution to this should also, thus, be long-term. They need to be taught such a lesson regarding this, that they won’t forget this concept for the rest of their lives.

Shoes

I bought these Adidas sneakers earlier this year. Maybe in February. I ddn’t really need a pair of sneakers back then – my old Nikes were just fine, but I thought some retail therapy might help cure my NED, and hence the new sneakers. The therapy’s effects were short-lived. I got back to my then-ground state of NED the following day. NED meant unwillingness to wear my new sneakers to the gym, or to work, or anywhere else. So they lay, in a box, until I brought them to Gurgaon three months back. The old faithful pair of Nike was left behind in Bangalore.

I don’t know if my feet have grown in the last ten months. Or if in my eagerness to shop way back in February, I didn’t check properly for the size. But the sneakers are simply too tight. One theory is that my right foot is bigger than my left, and when I had tried out these sneakers in the showroom, I had put the left one on, found it perfect, and bought the pair. This reasoning is based on the observation that it’s only my right foot that hurts, and my left one does fine. The length of the shoes is perfect. It’s a problem with the width. The fourth and fifth toes of my right foot end up getting squeezed.

Having made a mistake the last time I shopped for sneakers, I don’t want to take any chances now. I don’t want to buy another 2K+ pair. I want something cheap, yet comfortable. Went shopping last weekend, checked out all the major showrooms, and whenever I found what looked like a good pair, I would chicken out, head and feet full of self-doubt. I still wear the same tight pair to the gym every morning. And the fourth and fifth toes of my right foot still hurt.

It is winter in Delhi, and gets fairly cold in the evenings, and sometimes even during the day. In Bangalore, Madras, Bombay, etc. my normal footwear (when I wasn’t required to wear formals or sneakers) was floaters. That clearly doesn’t seem to be an option here in Delhi. Which means I need a general pair of shoes. So far in my life, I’ve owned only one “general” pair of shoes. The rest have either been uniform, formals, floaters, bathroom or sneakers. That one general pair I own has been left behind in Bangalore. It’s an old faithful comfortable Liberty pair. Now, the presence of that shoe in good condition, even though it isn’t accessible, deters me from making up my mind about spending on a new pair. Last weekend, I found some really good shoes at Woodland, but again chickened out. Maybe the scars of the wrong choice of sneakers has started affecting in my other shopping decisions also.

On a different note, one thing I’ve noticed here in Gurgaon is that service providers who come home (for example, the guy who fixed the washing machine) refuse to take off their shoes when they enter your house. They even don’t think twice entering the kitchen wearing shoes. Coming from a background where shoes inside the house are a strict no-no, I find this fairly shocking. I remember reading in A Farewell to Alms about differences between Japan and Europe. Japan seems to be like South India in this regard, outlawing footwear inside homes, while Europeans had no such restrictions and is hence like Gurgaon.

Disco Raaga – Taana – Pallavi

This is one of those posts that I’ve been intending to post for over a couple of months, but each time I think about this, I don’t happen to be in front of a computer, and even if I do, I don’t feel like writing about it. So here I am – finally blogging this. As I write this, I’m listening to the Ledzep Live Album The Song Remains the Same. This post is about this album, and other related stuff.

As you might have figured out from the title of this post, one thing I’ve noticed about this album is about the approximate Carnatic format that the songs in this take on. It may not be in the strict order that Carnatic music prescribes, but these songs are roughly there. I’m currently listening to Dazed and Confused, and after the first few lines of the Pallavi were sung, Page has now gone off into an extended Aalapana of whichever Raaga this song is set in.

Periodically, they return to the song, and play a few more lines. Now, Plant is doing his bit by improvising with a few lines of his own. Jones and Bonham are dutifully doing their background stuff – Bonham will get his footage later in the album – for Moby Dick features a full-blown Tani Avartanam. It ends the same way Tani Avartanams in Carnatic concerts do – with the main line of the Pallavi being sung at the end of it. I know I might be force-fitting some Carnatic concepts into this album; nevertheless, all these improvements make for extremely interesting listening.

A few days after I had first noticed this, Udupa told me that a large number of concerts in the 70s were like this – the musicians would simply jam on stage in the middle of the songs. Created music on the spot. Spontaneous stuff. Unfortunately, Udupa continued, the trend changed a few years back when less informed audiences started demanding that more songs be crammed into the three hour concert, thus reducing the scope for such improvisations.

The best thing about Carnatic concerts is that each one is unique. You might look at two concerts – played by the same set of musicians and with the same line-up of krithis, but there is a very good chance that the two are markedly different. This is because Indian Classical music, in its concerts, encourages the musician to innovate, to play whatever comes to his mind at that point of time – while adhering to the fairly strict rules. It is this element of innovation that makes each concert special, and an experience in itself.

Western Classical music differs in this regard – especially in the orchestra form – since the large size of the troupe leaves little scope for innovation and the musicians are literally forced to play it by the book. In that context, it seems like it was genres such as rock which brought in the spontaneity and innovation into western music.

Nowadays, bands don’t tour as much as they used to a couple of decades ago, which means that whenever they visit a city (which is once in a few years), the fans in the city will want to hear as many songs as possible. And that kills innovation. It is not the bands’ fault – they are simply responding to the market. And I don’t know what it could be that could get them back to their RTP days.

Here is one of my retirement plans. For each song that I like, describe a Carnatic Raaga into which it can approximately fit into. Tinker around with the stanzas, to create a Pallavi-Anupallavi-Charana format. Try to make the raagas as rigid as possible – Vakra scales will be preferred. And then put RTP. Use some Western instruments too – for example, I definitely want the Bass guitar to be a regular feature in Carnatic concerts. I think the result is likely to be phenomenal.

It’s been a few years since I picked up the violin. I plan to do it sometime. And implement what I’ve described here. Hopefully I’ll do a good job. In the meantime, if there are any bands out there which want to implement this concept, they can feel free and do it – I promise I won’t sue them later for IPR.

why is the level of English in North India so low?

I had sent this mail to a mailing list of 60-odd super-intelligent people. unfortunately, in their fondness for Savita Bhabhi, Vidarbhan farmers and child-eating, they weren’t able to come up with any convincing explanation for this. So I thought you super-intelligent readers of my blog might be able to help. I begin.

Three months back I moved to Gurgaon from Bangalore. And one thing I’ve noticed is that here practically no one can speak English. I’m referring to service providers here, people who are typically from the lower middle class. Taxi driver. Electrician. Waiter. Accountant. etc.

None of them can speak a word of English, and  I mean that almost literally. In Bangalore and Madras, we can see that people in these professions at least make an effort to speak English, and even if you don’t know their local tongue you will be able to communicate with them and get your work done. Here, unless you know Hindi, it is impossible. There is only so much you can communicate in Dumb Charades, right?

I suppose one argument will be that people in the North would have never had the need to learn English since most people they come across can speak Hindi. And that since linguistic regions are much smaller in the South, there is greater incentive for people to pick up and learn new languages. And since they know that a knowledge of English helps get them more business, they make an effort to pick it up.

But again – even if you exclude those who haven’t gone to school, the knowledge of English here is horrible. Isn’t it aspirational in North India to send kids to English medium schools? If not, I wonder why this is the case – given that in the South practically everyone want to send their kids to English medium schools.

Ok here is my hypothesis – remember that it is a hypothesis and not an argument. I wonder if people who are native of regions where the same language prevails over a large geographical area are linguistically challenged. because everyone they need to interact with know their language and there is no need for them to learn any new language. and this affects their ability to pick up new languages. on the other hand, people from linguistically diverse regions will tend to find it easier to pick up new languages.

extending this, it might actually help if the medium of instruction in your school is not your native tongue. having learnt a new language early, you will find it easier to pick up new languages as you go along.

sometime last month I was at a high-end restaurant with a couple of friends. spoke to the waiter in English and he didn’t understand. one of my friends who was with me said “don’t bother talking to these guys in English. if they knew some english, they’d’ve been working for Genpact and not become waiters”