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The next billionaire

Unfiltered and real ...ย โ€ขย 5m

The youth of India spends money they don't have to play status games. Multiple people making <โ‚น50k ($600)/mo in their 20s are buying โ€” iPhone & other Apple products (on interest) โ€” Coldplay / Dua Lipa concerts โ€” trips to Thailand / Vietnam / Goa They save little to no money. Iโ€™ve been in India and multiple people have told me theyโ€™re essentially broke after multiple years of working. Income asymmetry amongst similar social groups is high which can force this โ€œsuddenly my college buddy makes 90LPA but Iโ€™m at 12โ€ The peer pressure to โ€œfit inโ€ 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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