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By:

Kiran D. Tare

21 August 2024 at 11:23:13 am

From Mumbai to Meta

Kunal Shah’s rise from city entrepreneur to global head of WhatsApp signals that India is producing genuine architects of the digital age. For much of the internet era, the world’s defining digital products were imagined in California. The next chapter looks markedly different. Artificial intelligence, digital finance and ubiquitous connectivity have flattened the distance between Silicon Valley and the rest of the world. Increasingly, the most interesting ideas are emerging not merely from...

From Mumbai to Meta

Kunal Shah’s rise from city entrepreneur to global head of WhatsApp signals that India is producing genuine architects of the digital age. For much of the internet era, the world’s defining digital products were imagined in California. The next chapter looks markedly different. Artificial intelligence, digital finance and ubiquitous connectivity have flattened the distance between Silicon Valley and the rest of the world. Increasingly, the most interesting ideas are emerging not merely from American technology giants but other countries. Few people embody that transition better than Kunal Shah. His recent appointment as the global head of WhatsApp, following Meta’s $900 million investment in CRED, represents the arrival of an Indian entrepreneur at the helm of one of the world’s most consequential digital platforms. Unlike many celebrated founders whose credentials begin with engineering degrees, Shah’s intellectual roots lie elsewhere. A graduate in philosophy from Mumbai’s Wilson College, he briefly enrolled for an MBA. However, rather than collecting qualifications, he accumulated ideas, ranging effortlessly across economics, psychology, incentives and consumer behaviour. His social-media essays and public lectures have acquired an almost cult following among entrepreneurs because they treat business less as accounting than as applied anthropology. His entrepreneurial journey mirrors India’s own digital awakening. Long before smartphones transformed everyday commerce, Shah recognised that friction was the enemy of adoption. His first venture, FreeCharge, helped familiarise millions of Indians with digital payments during a period when cash remained king. Its success made him one of the pioneers of India’s fintech revolution. Following its sale, Shah resisted the temptation to launch another fashionable startup immediately. Instead, he spent years investing in young companies, observing founders and dissecting consumer behaviour with the patience of an academic. That unusually reflective interlude shaped CRED, the company he founded in 2018 around a deceptively simple proposition that trust should carry economic value. Many regarded the idea as eccentric. Why reward consumers merely for paying their credit-card bills on time? But Shah saw something deeper. Modern economies increasingly depend upon trust and reputation. CRED transformed disciplined financial behaviour into a platform that eventually expanded into lending, commerce, insurance, wealth management and payments. Today the company serves around 17 million monthly active members, and has attracted more than $900 million from global investors. It generates annual revenues of roughly $325 million. Importantly, these figures signify that patient product thinking can triumph over fashionable exuberance. Shah’s influence extends well beyond the companies he has founded. He has become perhaps India’s most prolific angel investor, backing more than 250 startups while mentoring hundreds of entrepreneurs. His counsel has shaped businesses across sectors, while advisory roles with Peak XV Partners, Pine Labs and industry bodies have given him an outsized influence over the direction of India’s startup ecosystem. Shah has consistently argued that enduring businesses are built not on funding rounds but on understanding incentives, habits and human psychology. Those qualities explain why Meta came calling. Mark Zuckerberg praised Shah’s “builder mentality” while Meta’s Chief Product Officer, Chris Cox, highlighted his grasp of how WhatsApp fits into people’s everyday lives. That endorsement recognises that the future of messaging lies increasingly beyond messaging itself. Artificial intelligence, digital payments, commerce and business communication are converging into a single ecosystem. Few executives possess practical experience across all four domains. India offers perhaps the clearest glimpse of that future. It is WhatsApp’s largest market, its most sophisticated laboratory for business messaging and an increasingly important arena for digital payments. Shah understands this ecosystem instinctively because he helped build it. His career has unfolded alongside India’s digital public infrastructure, the smartphone revolution and the emergence of one of the world's most dynamic entrepreneurial cultures. There is something symbolically satisfying about the appointment. While technology has long celebrated engineers who solve computational problems, Shah belongs to a different tradition of the entrepreneur who begins by asking why people behave as they do. His greatest strength lies in understanding incentives, trust and networks. History suggests that the most transformative technology leaders are rarely prisoners of technology alone. They are students of people. In elevating Kunal Shah to lead WhatsApp, Meta is betting that the next era of the internet will be shaped less by algorithms than by a deeper understanding of the billions of human beings who use them. Judging by Shah’s career so far, that is a wager with every chance of paying handsome dividends.

Imran Khan’s Fall from Grace

Updated: Oct 21, 2024

Imran Khan’s Fall from Grace

Imran Khan, once hailed as Pakistan’s most charismatic and resilient leader now finds himself in a position unprecedented for a man of his stature.

The former Prime Minister of Pakistan, once known for his unyielding spirit and fierce determination, now shows signs of strain. Imprisoned and facing numerous charges, Khan appears to be a shadow of the leader who once inspired millions.

Khan’s recent meeting with journalists revealed a man who is a shell of his former self. Once confident and commanding, his body now shows a sense of unease and agitation. Those who met him describe a waning spirit, a stark change for a leader once known for his steadfastness in adversity.

The journalists described Khan as a man who is aware that his political party, Pakistan Tehreek-e-Insaf (PTI), is losing its once-iron grip on the nation’s imagination―a realisation that visibly shook him.

The PTI, once a magnet for massive crowds and inspired loyalty among its supporters, is now struggling. The much-hyped rally scheduled for August 22 in Islamabad, was embarrassingly cancelled due to a lack of public interest. Khan, in a bid to save face, claimed that the rally was called off to avoid potential violence. In a sign of growing desperation, Khan rescheduled the rally for September 8 and directed his party leaders to overcome any obstacles. This defiant stance is typical of Khan’s confrontational style, and his public directives highlight his insecurity about his party’s ability to mobilise support.

While Khan outwardly appears calm and composed, the multiple cases against him and his time in jail have left him isolated and struggling with loneliness. Even in this difficult situation, he remains in the headlines, thanks to his uncanny ability to stay in the public’s eye. Khan recently made headlines by applying for the University of Oxford Chancellorship, a move initially dismissed as a rumor but confirmed by his spokesman, Sayed Zulfikar Bukhari. As an Oxford alumnus, Khan would be the first Asian to take the role. Many see this bid as a strategic play to leverage his international profile against Pakistan’s establishment, a move that has kept him prominently in the media spotlight.

The political landscape in Pakistan is deeply divided. Prime Minister Shahbaz Sharif, in his second term, has failed to address critical issues including unemployment, soaring inflation, and deteriorating law and order. His administration’s inability to deliver on its promises has only deepened the public’s disillusionment, leading to growing nostalgia for Khan’s past leadership.

Shahbaz Sharif’s government is a source of frustration for the Pakistani people and a cause for concern for the country’s military. Historically, the military has shaped Pakistan’s political trajectory, stepping in when civilian governments falter. The military reportedly is growing uneasy about the government’s performance especially Sharif’s inability to stabilize the country and mend relationships with key neighbors, particularly India. Additionally, its deteriorating ties with Afghanistan and Iran have left Pakistan increasingly isolated. Even China, Pakistan’s longstanding ally, has expressed dissatisfaction with the government’s policies, a worrying sign given the importance of the China-Pakistan Economic Corridor (CPEC) to the country’s economic future.

It is within this context of political turmoil and international isolation that Imran Khan remains a potent force. Despite his legal troubles and the challenges facing his party, Khan’s popularity endures. For millions of Pakistanis, his tenure as Prime Minister is seen as a time of relative stability and hope, a stark contrast to the current administration’s ineptitude. This perception has kept Khan’s political base intact, even as his party faces an uphill battle in the coming months.

However, Khan’s ability to navigate the current political landscape is far from guaranteed. The PTI’s diminishing support, coupled with the increasing pressure from the establishment, raises questions about Khan’s long-term strategy. His recent moves, including the application for the Oxford Chancellorship, suggest a leader willing to explore unconventional avenues to maintain his relevance. But whether these tactics will translate into a successful political comeback remains to be seen.

Pakistan’s political future is more uncertain than ever. Imran Khan’s journey from cricketing legend to political maverick has been extraordinary. Still, as he faces the toughest challenge of his career, the question remains: Can he once again defy the odds and reclaim his place at the helm of Pakistani politics, or is this the beginning of the end for a once unstoppable leader?

Khan’s story is a testament to the complexities of power and the unpredictable nature of political life in Pakistan. His rise, driven by charisma, populism, and a genuine desire for change, now faces the realities of personal and political challenges, raising the possibility that his time may be running out.

Imran Khan is a beacon of hope for his supporters, and a polarizing figure for detractors, whose ambitions have often clouded his judgment. As the nation watches, the world is left to wonder: What will Imran Khan’s next move be? And more importantly, what does it mean for the future of Pakistan? The coming months will be critical not only for Imran Khan but for Pakistan as a whole. The decisions made during this period will shape the country’s trajectory for years. Whether Khan emerges victorious or is consigned to the annals of history as a fallen leader, one thing is certain: The story of Imran Khan is far from over.

(The writer is a senior jounalist based in Islamabad. Views personal)

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