What is critical for the success of a startup - founders’ skills or the macros?

I think it’s a bit of both. You could be a great founder with excellent execution skills but still struggle in an unfavorable macro environment. Or, you could be an average founder benefiting from the economic momentum of your country and sector.

Every time I think about this, I realize how fortunate we have been in terms of macros, both as a country and through government initiatives. We’ve benefited from everything that the Government has done—starting with Aadhaar, increasing mobile penetration, Startup India initiatives, and the overall supportive startup ecosystem.

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