Bill Gates has THIS advice for Indian entrepreneurs, reveals ‘competitive advantage’ in podcast with Nikhil Kamath

Bill Gates revealed that Indian entrepreneurs have a ‘competitive advantage’ compared to those in the West given the country's population and demographic diversity. ‘’Among middle-income countries, I see India at the top of the list - where the most exciting entrepreneurial opportunities remain in sectors such as agriculture and healthcare,'' said Gates.

The co-founder of Microsoft recently joined Zerodha co-founder Nikhil Kamath for the inaugural episode of the new podcast series "People by WTF'', where he advised Indian entrepreuners to focus on ‘base level models’ rather than take on the 'foundational models' which may give them better results.

The renowned philanthropist and tech leader also revealed that he has had a ‘fantastic relationship’ with India which has evolved over the years with technological and digital innovation. The two entrepreneurs discussed a wide range of subjects, including the artificial intelligence (AI) revolution, energy transition, and capitalism versus socialism debate.

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Bill Gates on Satya Nadella

Bill Gates praised Indian software engineers working at Microsoft for their solid skills. ‘’We hired very smart IT graduates and brought them to Seattle. Later, they went back and created a development centre for us in four locations,'' said Gates. He was in awe of Microsoft CEO Satya Nadella who ‘’sits on top of the pack for his exceptional leadership'', according to Gates.

"A lot of amazing people I work with are from India and part of that is Satya, who is doing an amazing job as the CEO,'' Gates told Kamath. He also mentioned India's importance in his philanthropic efforts, saying, "India is a country where we spend the most money, which is close to one billion a year."

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Bill Gates on AI

Kamath asked Gates about one hack he would suggest to young entrepreneurs. Gates answered saying “pick an AI thing and use the Google and Microsoft platforms and go on top of that.” However, he mentioned that if somebody wants to build something from scratch they could also try doing that.

Gates also mentioned that the AI technology has the potential to alter and dismantle "the very organising principles of society and what we value." He outlined the transformational role of AI and how it can benefit humanity, however, he did not express surety over the technology replacing human jobs.

He explained that AI will reap great results in the healthcare sector for old and handicapped patients. ‘’We have seen several projects in India and the US that are showing great results. The potential is incredible if we knew that all it did was make jobs more productive," said Bill Gates.

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Capitalism vs Socialism

Kamath also asked Gates whether he would choose capitalism over socialism. Gates chose capitalism explaining the growing power of the system and ‘’is the fundamental way that things should be done''.

"Capitalism gives you the freedom to start a new business or try out a new product. It gives the power of price comparison and discovery to consumers. That is an idea of freedom as it is not based on your background or class, and there is a discovery power,'' said Gates. However, governments also have to look for monopolies and has to create the safety net, he added.

Bill Gates and Nikhil Kamath share a longstanding philanthropic association. Kamath has pledged to donate 50 per cent of his wealth to 'The Giving Pledge,' founded by Bill Gates and Warren Buffet. The Zerodha co-founder is the fourth and youngest Indian to commit to the initiative.