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The next billionaire
Unfiltered and real ... • 3m
The youth of India spends money they don't have to play status games. Multiple people making <₹50k ($600)/mo in their 20s are buying — iPhone & other Apple products (on interest) — Coldplay / Dua Lipa concerts — trips to Thailand / Vietnam / Goa They save little to no money. I’ve been in India and multiple people have told me they’re essentially broke after multiple years of working. Income asymmetry amongst similar social groups is high which can force this “suddenly my college buddy makes 90LPA but I’m at 12” The peer pressure to “fit in” is high ~10M people in India made 20+LPA ($25k/yr) ~10M iPhones were sold in India in just 2023. 70% of them were on EMI (interest). My favorite comment genre when you point out India issues is 'this is an issue everywhere else', as if that absolves the issue. A US college grad makes $60k, spends $200 on the phone and $1000 on a vacation, not spending 10-15% of their annual income on a phone or a concert. Source: Deedy/X
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