I’m the CTO of commenda.io. We help Indian startups get set up with RBI-compliant, venture-ready Delaware c-corps.
There are 2 reasons why Indian corporations like to incorporate in the US:
1: VC. American VCs love investing in Indian startups, but they hate investing in Indian corporations. YC invests only in corporations set up in the US, Canada, Singapore, or Cayman Islands. Other VCs have different requirements, but they all accept US.
2: Sales. If you’re selling to US customers (which most Indian SAAS startups want to do), a US entity will help you build trust and a US bank account will make it easier for your customers to pay you.
> Too often despots and their cronies get countries into economic trouble, countries that have been taken advantaged by Western interests for hundreds of years.
Agreed.
> When the country collapses, the IMF and World Bank subjugate the country to Western interests further often to the destruction of the environment and detriment to upward mobility of the population.
Can you give me any concrete examples of IMF reforms making a country worse off economically?
> Using statistics like reduction of extreme poverty or wage growth when not taking into account other factors like inflation or mortality for example
Okay, mortality in India has fallen steadily from 1% in 1991 to 0.7% in 2020. And inflation doesn’t have a clear pattern but it’s never returned to its 1991 peak of 13.5%.
I’m not just cherry-picking stats here! India has actually gotten way way better in the last few decades, and the rate of improvement rose dramatically after the 1991 reforms!
> From 1992 to 2005, foreign investment increased 316.9%, and India's gross domestic product (GDP) grew from $266 billion in 1991 to $2.3 trillion in 2018[6][7] According to one study, wages rose on the whole, as well as wages as the labor-to-capital relative share.[5]
> As an effect of the liberalisation in 1991, extreme poverty reduced from 36 percent in 1993-94 to 24.1 percent in 1999-2000.[8]
Requirements change. I’ve seen 10+ year old proto files at google still being used by services that are still being actively developed.
Over those ten years your data model has evolved. Your first client, the one whose data model you were imitating when you added the required field, was deprecated five years ago and turned down last year. You have a dozen or a thousand client services, each using you as a backend in a slightly different way. Are you sure every single one of them is going to require that field? Are you sure the field will even be semantically meaningful for their use case?
You’re misunderstanding the paper. This is not the number of people who can correctly define the word, it’s the number of people who can correctly recognize that it is actually a word.
One of the most interesting parts of Lee Kuan Yew’s book for me was when he talked about all the critics he sued for libel. He justified it as “of course I sued them for libel, otherwise why would anyone believe me when I said they were lying?”