Towards liberalism

I was raised in a fairly conservative family; my father’s atheism not preventing him from being socially conservative. Until I went to college, I never blew candles for my birthday, for they were deemed to be “against Indian culture” at home. I went to RSS Shakhas, my seniors at RSS stuck BJP posters on my door, and except for the 1989 Assembly elections when BJP didn’t put up a candidate in Kanakapura, my parents always voted for that party.

My wife comes from a different kind of family. They are religious but can be described as being more “secular” (her name (Priyanka) might suggest to you their political leanings). So she grew up doing poojas and keeping vratas on all sorts of random Hindu festivals, but also blowing candles on her birthday and calling up “Santa” and getting Christmas presents also. Yeah, you look for compatibility on several axes when you’re searching for a long-term gene-propagating partner, but political leanings are usually low down on that compatibility list.

Last year, I totally and completely failed to appreciate her celebration of Christmas, instead treating it as yet another random holiday, before and after which nobody did anything at work. I failed to give her any gifts, or organize any “christmas events” for her. Yeah, the in-laws came over, we had set up this little crib based on dolls we’d purchased in Sri Lanka on our honeymoon and all that (unfortunately we misplaced that set, else we’d’ve displayed it as part of Dasara too, this year), but I must admit I’d failed to “celebrate” the festival. And in my defence, it was never a festival that I had celebrated, so “forgot” was actually a valid excuse.

So this year we decided to have a Christmas party at home. Basically called a few friends over, most of whom responded with astonishment (thanks to my RSS legacy), but were kind enough to land up. And once again we searched hard and found that “crib set” and set it up. And started playing Christmas carols, until I got bored and switched the music to Black Sabbath, which nobody really minded. Much alcohol was consumed (especially wine, given the Christmas spirit), plum cake was had and Chinese food ordered in.

In the intervening years I’ve found myself becoming more and more socially liberal. It probably started when I moved to IIMB; I think that was the time I stopped being judgmental of people based on their backgrounds, and stuff. That was the time when I started respecting individual rights, and those leanings got stronger as I slowly opened up, joined a libertarian-leaning mailing list, and realized that this was actually what I (as a person, irrespective of my background) was about.

On a foreign vacation earlier this year, thanks in part both to the lack of interesting vegetarian options and the availability of fairly succulent-looking meat, I stopped being vegetarian. A few months after that I participated in a “Ramzan meat walk” (though I didn’t consume much meat during the walk, since a lot of it was ‘hardcore’). I find it silly now that I’d actually joined a group of hostel-mates that campaigned for a “vegetarian table” at the hostel mess because the non-veg food “looked too gross”. But when someone starts singing “Silent Night”, I only remember that variation that a chaddi dost and I had come up which changes the song’s lyrics in a way that it ends with “and two souls become three”.

Given a chance, if I were to register as a voter and there were elections tomorrow, I might still vote for the BJP, following family tradition, but that would be more in line with economic thought and lack of options rather than my conservative background. I oppose the forced 11pm shutdown of Bangalore pubs, but don’t care about it enough to join protests on that front. If the government subsidizes Haj and Kailas Mansarovar Yatras, I demand that I get funding to attend the Pastafarian conference in Texas. And I still intend to open my autobiography (whenever I write it) with the lines “As Babri Masjid came crashing down, I celebrated. It was my tenth birthday and we had a party at home … “.

Arranged Scissors 5 – Finding the Right Exchange

If you look at my IIMB grade card, one subject stands out. It is one of the two Cs that I have on the card, and the other was in a “dead rubber” (5th/6th term where grades didn’t matter for placements). This C was in introductory marketing management. Where the major compoenent was a group project called the application exercise (ap-ex). I frequently crib that I did badly in that project because four out of six people in my group did no work, or even negative work (and this is true). Digging deeper, however, I think the more fundamental issue was that the two of us who worked didn’t really know what we were doing. We failed to understand the concept of STP till a few years after the project was over.

STP is one of the most fundamental concepts in marketing. It stands for Segmentation, Targeting and Positioning. I quickly appreciated Positioning, but took a long time in trying to figure out the difference between segmentation and targeting. In my defence, they are highly inter-related concepts, and unless you look at it from the point of view of social sciences (where each unique point fetches you one mark in the board exam) it is not intuitive that they are separate concepts.

So you segment the “population” based on various axes. Taking these axes in conjunction, you end up “segmenting” the population into a large number of hypercubes. Then you do the “targeting”. Find the set of hypercubes that you want to sell your product to (in the context this post is about, sell yourself to). And so once you have found your “target segment” or set of “target segments” you “position yourself” and go out to sell. And then you need to figure out the “4 Ps” of marketing. Product (fixed here – it’s you). Price (irrelevant if you don’t plan to take dowry). Forgot one P. The other is Place (where you will sell).

The arranged marriage market can be broadly be divided into two – OTC and exchanges. OTC (over the counter) is the case where you have a mutual acquaintance setting you up with a counterparty. The only difference here between arranged and normal scissors is that in the arranged case, it is your parents who are set up with the counterparty’s parents rather you getting set up directly. Since it is a mutual acquaintance doing the setting up, the counterparty is at max two degrees away, and this makes the due diligence process a lot easier. Also, you have one interested third party who will keep nudging you and pushing hte process back and forth and generally catalyzing it. So people in general prefer it. Historically, there were no formal exchanges (apart from say a few “well known village elders”). Most transactions were OTC.

One problem in financial OTC markets is counterparty risk (which is what has prompted the US government to prop up AIG) but this is not a unique problem with OTC arranged marriage market – counterparty risk will always be there irrespective of the method in which the relationship was formed. Apart from providing counterparty protection, one important role that financial exchanges play is to improve liquidity in the market. The number of transactions that happen in the exchange ensure that the market is efficient and prices are fair. Liquidity is an important asset in the arranged marriage exchanges also.

The problem that I’m trying to describe in this post is about segmenting the exchanges based on their most popular commodity types. I don’t have reall live examples of this, but then for each product you will want to go to a different exchange. For example (this example may not be factually correct) both the Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange (CME) trade in both corn futures and cattle futures. However, the volume of corn futures that are traded on CBoT is significantly larger than the volume of corn futures traded on the CME. And the volume of cattle futures traded on the CME might be siginicantly larger than the corresponding volume in CBoT.

So if you want to buy cattle futures, you are better off going to the CME rather than the CBoT since the former has significantly greater liquidity in this product, and thus you are assured of getting a “fairer” price. Similarly, to buy corn you should rather go to CBoT than CME. I suppose you get the drift. Now, the same is true with the arranged marriage market also. If you want to get listed on an exchange, you will need to make sure that you get listed on the right exchange – the exchange where you are most likely to find people belonging to your target segment.

To take an example, if you think you want a Tamil-speaking spouse, you are significantly better off listing on tamilmatrimony.com rather than listing on telugumatrimony.com, right? Of course this is just a simplistic example which I have presented because the segmentation and difference in markets is clear. Things in the real world are not so easy.

There are various kinds of marriage exchanges around. In fact, this has been a flourishing profession for a large number of years, and even the recent boom in louvvu marriages has done nothing to stem the flow of this market. You will have every swamiji in every mutt who will want to perform social service by opening a marriage exchange. Then, you have a few offline for-profit exchanges. Some of them work on a per-deal basis. Others charge you for listing, since it is tough for them to track the relationships that they’ve managed to create. Then, this is one business which has clearly survived the dotcom bust of 2001-02. The fact that this business is flourishing can be seen on the left sidebar of this page where I suppose a large number of them will be advertising. In fact, I encourage you to click through them since that will result in precious adsense revenue for me.

There is nothing wrong in carpet bombing, but that comes at a price. Notwithstanding the listing fees (which are usually nominal), you will have to deal with a significantly large number of “obviously misfit” CVs and bump them off. Especially if you live far away from the exchanges and have someone else broking for you, you don’t want to burden them too much, right? So the problem is in doing your segmentation and targeting. And then researching the exchanges to find which exchange has most liquidity for products belonging to both your segment as well as your target segment. And get listed on them ratehr than wasting precious time, energy and money listing on exchanges that are unlikely to be useful.

Since I began this (extremely long) post with marketing fundaes, I should complete it with some more (which is irrelevant to the rest of this post). A standard process for advertising is AIDA (Awareness-Interest-Desire-Action). Typically for a relationship to “happen”, you need a minimum of D from at least one of the parties, and a minimum of I from the other party. The normal arranged marriage process, however, assumes that an I-I is a sufficient condition for a sufficient lifelong relationship, and don’t give enough time and space for people to check if D is there. Hence the disasters. Hence the tilt towards the CMPs.

Arranged Scissors 1 – The Common Minimum Programme

Arranged Scissors 2

Arranged Scissors 3 – Due Diligence

Arranged Scissors 4 – Dear Cesare