The last 18 months at Zerodha have been eventful, to say the least. Historically, market crashes caused panic & reduced activity. But this crisis led to a rush of new customers looking to buy into stocks on sale. Free time due to lockdowns & low bank deposit rates helped.

Once this younger bunch of first-time investors saw quick profits, they started spreading the word and got their friends & family to invest. Market outperformance has led to continued momentum in user growth until now. It all felt like magic, we did nothing different.

The most underappreciated aspect of building a successful business is just how important being at the right place and the right time is. All you can control is how you build your team & hence the products. Everything else is pure randomness & luck.

View on Twitter →