BEST PRODUCT-MARKET FIT EXAMPLE IN THE LAST FEW YEARS
This is Arindam Chaudhhuri, the brains behind IIPM. He is the first man to build an education system based on simple data: more dumb people in the world compared to smart ones. So why build a college for smart people when you can unlock immense wealth by catering to the dumb by giving them MBA degrees, laptop and 10 day foreign holiday. All of this for a few lac rupees.
People just flocked to him. Everyone around me suddenly had MBA degrees in the 00s and early 10s. Literally everyone. People who flunked out of engineering, 12th standard, newborns etc. He had a 3 year BBA + MBA program! Every newspaper had full page ads offering this course - never seen so many exaggerated truths (or lies) in one place.
People keep talking about product market fit these days, I don't know anyone else who aced it better than this guy. Parents wanted their kids to have MBAs - because brag value + mating success in arranged marriage scenes. And kids wanted to keep parents happy. Therefore, demand was immense.
But supply was gated by intellect. While every other institution thought they needed the best students to get on par with the IIMs in order to hike prices, our man “dared to think beyond IIMs“. While every other institution decided to attract intellect (which is limited) by gating it with high marks, this guy decided to increase supply by lowering the entry barrier and opening up the gates.
Parents happy. Kids happy. IIPM obviously very happy. Throw in some random foreign university exchange program, and parents will throw more money for uttering that one line at a wedding which made every parent feel on top of the world: “My son/daughter has gone to Europe for studies.“ Of course, there were bright minds who got into IIPM, who fell for the crazy high decibel advertising. My condolences to them.
And just to really push the limits of human intelligence our man called one of his flagship projects as GOTA (Global Opportunities & Threat Analysis). I bet my life he just wanted to call it GOTA, so he reverse engineered a full form to make it sound legit.
#education #success #university #IIPM