YouSaid · the spoken record

Dan Tennebaum

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108
first
2024-05-23
most recent
2024-05-23
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1
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podcast

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  1. “So, I would go call upon these Indian conglomerates, some multinational companies, even eventually companies that were majority owned or controlled by the government and try and get them to outsource their payroll and benefits. I thought that would be a steep ask, but in the end, it went surprisingly smoothly, even though outsourcing was new. Part of that maybe was the novelty of a foreigner showing up in their offices. But part of it is when I actually came to understand the need, these Indian companies, some of them had decades old wage agreements with their employees, and they would have a salary component, but there would also be tons of other stuff baked in there. There was a housing allowance and called a dearness allowance and an allowance for festivals, an allowance for tea. And they were really only too happy to have someone take that headache away from them. And that's what we did.”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “The company was called India Life, and at this time when Indian software companies were just beginning to pioneer the concept of getting American companies to outsource technology, this entrepreneur had the idea that he could get Indian companies to outsource payroll benefits administration, kind of a la paychecks in ADP. And he hired me as the 18th employee in first foreigner with this kind of grand title of vice president of business development. And really it was just kind of see if there were any adjacencies we could find in then trying to sell the company's suite of services to Indian companies.”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Was it you're sitting at Bain in Boston and meeting these Indians that are sequestered into Boston and not going back that led you to say, well, no, no, I just want to go to India? I think it was, I was 24 years old. And in the Bain environment, it was phenomenal. But the Boston office was our flagship office back then, and it got all the really big clients and teams of six or eight or ten people would be toiling away for months. And it was a really successful project if you could help them gain a point of market share or a point of growth and not in any way diminish that kind of work. Marvelously exciting and most of all at Maine. I loved it, but my cubicle I stand on my tiptoes if I even wanted to be able to see a window. And the idea is just kind of getting out there and doing something was really, really appealing.”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Of vicariously threw me enjoyed helping me plot out a path to India. So how did that play out? So in the event, I got all this great advice from all the way down to people who had drawn maps on napkins of live here, don't live there. Here's who you should trust. Here's maybe you shouldn't trust. No Indian companies back then were doing formal recruiting outside the country. Even today that's pretty rare. The only foreigners who are there mostly were associated with embassies or maybe they were on rotation for Siemens or something. So for me, in very Indian fashion, through circuitously a network, I had a college classmate whose mother had a family friend who'd heard someone speak in business school, who had a portfolio company who maybe could use someone. And in the end, he agreed to take. me on.”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “In the late 1990s, less on the map as a place to go than it is today. It so happened a lot of people I was asking advice from were from India. And even more than being from India, they were a self-selected group because at that time, most Indians who had excelled and strived and gotten to the United States and got a pretty good job, they were looking to stay. I think of top Indian schools back then. 95% of people left. This group had been recruited specifically by Maine to incubate a team that they were then going to parachute into India at some point. And so these were the very, very successful Indians who did want to go back in that time and then plans changed. And Bain didn't launch an office and they were all marooned in Boston. So when I came around asking for advice, I think they kind of”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “But it was one that was dormant for a while. I studied at Brown, and afterwards I ended up in Boston, at Bain and Company. I think like a lot of people with energy, but without a clear sense of direction, management consulting seemed like the default bet. And I did that and I liked it and I enjoyed the intellectual challenge in the analytical toolkit we got in most of all. I loved that my colleagues were energetic and they were curious and they were thoughtful and as it happened they too were from all over the world including and especially India so when the time came that I was thinking okay what do I do next and can it be something a little different and maybe a little more hands on the management consulting and maybe outside the US although India was really”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “In my case, almost entirely by happenstance, and good luck, I grew up in Minnesota, which in the 1980s was even more homogeneous than it is today. And I don't even think we had an Indian restaurant in my town that I can recall until well into my teenage years. We were just beginning to experience what would become waves of immigration, of people coming in from Vietnam and Laos and Cambodia. So it happened by the time I was in high school and I was in an urban public school where a lot of my classmates were from somewhere else and that probably planted a bit of a seed that there might be something out there beyond Minnesota's borders or America's borders.”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “My guest on today's sponsored insight is Dan Tanabaum, Managing Director at India Capital, a 30-year-old investment firm focusing on public equities in India. Dan moved to the country 25 years ago and spent time in the startup world and venture capital before pivoting to the public markets in 2007. Our conversation covers Dan's path from a U.S. Midwesterner to India, the challenges of venture capital investing in the country, and the case for public equities. We turn to India Capital's perspective on sourcing, research, management, regulation, valuation, Portfolio construction, risk, and misperceptions Colored with examples along the way”

    2024-05-23 · Capital Allocators · Dan Tennebaum - The Case for India at India Capital (EP.387) · IDENTIFIED FROM THE TRANSCRIPT · source