After exiting the venture, Radhakrishna is now an angel investor. While another venture may be on the horizon, he is keen on mentoring and spending time with family. In this interview, he also shares his experience of starting over and lessons learnt from, yes, Calvin and Hobbes. Edited excerpts:
Now that you are no longer running TFS, what does your day look like?
I don't look at my phone the first thing. I meet at least two to three startups a day. There are a few startups I am already engaged with for either investment or mentorship. I had put on a lot of weight during TFS, so I am almost torturing myself with a diet and going to the gym. And instead of getting home at 11 pm, I sleep at 11.
You have started afresh. How does it feel?
When we started out, nobody knew me or Raghu. But once you have run a successful company and exited, there is pressure to succeed. However it's easier now because you have proven your ability. People will invest in you, consumers will believe the product you come out with.
Is "What are you going to start next" the most asked question to you?
Yes. No matter who I meet, entrepreneurs, investors, excolleagues, my uncle, grandmother, parents, everybody asks me the same question. The only person who is saying, "Take a break and chill with me" is my wife (laughs).
Aren't you planning to start something on your own?
Right now, this (angel investment) is the most natural thing to do. Of course, I want to start another venture. But I don't want to say when. I am very much involved in the industry through investments.
You seem to have invested in varied sectors. As an angel investor, what are you looking at investing in?
The startup ecosystem in India has given me a lot. So, while one is looking at returns, this is my way of giving back to the ecosystem. What I am looking at is consumer space, where startups are thinking of disrupting a huge market. Like TaxiForSure, which disrupted the taxi space where radio cabs existed already.
I am looking at entrepreneurs who reimagine the way consumers experience day to day problems in the B2C space. At present, I have invested in five-six startups. The amount ranges between Rs 10-40 lakh each.
What are the lessons learnt from running and selling TFS?
Keep the consumers ahead of everything else. Investing in the first few hires will go a long way because you personally are not going to hire all the employees when the company becomes big. Being responsive to the market and thinking differently. If you don't, your growth will slow down.
As an entrepreneur, you are always passionate about what you have started. It's like your own child. And you wouldn't want to ever give it up. But you also need to be cognisant that there are other people who have helped you bring up that child. That's where you start thinking across the board and take a call. You learn how to be a pragmatic businessman and not be very emotional about things.
Do you wish the circumstances in which you sold TFS were different? It was as if you were left with no choice.
The Delhi incident (a woman passenger was raped in an Uber taxi) played a significant role and it created quite a bit of confusion.
When we started off, we had a lot of luck. Of course, there was a lot of hard work but, I think, we were also lucky to be at the right place at the right time. When you have accepted the good luck, you also have to accept bad luck.
What were some of the darkest moments?
The most difficult period was when we started getting offers from our competition, both Ola and Uber. Those were the nights when we had to really think deeply, about stakeholders, employees, drivers and operators, ourselves, our future. Those were stressful days. Nights would obviously be worse because during the day you are busy. But at night, when you are alone and your thoughts are resounding, is when you can't sleep.
Was Phanindra Sama's advice to share some of the rewards with employees one of the best lessons you learnt?
Raghu met him then, not me. Of course, his learnings came from his own experience of selling out. He said there were some employees who had asked him, how come you get to make money and none of us? That was the fundamental question. Most employees want to know if their job is secure and if they are making money. The first concern was addressed by having discussions with Ola and ensuring TFS would run as a separate entity for some time at least. The second part we sorted by giving two months' bonus to employees.
You love Calvin and Hobbes. What have you learnt from them?
The whole Calvin and Hobbes series shows you the right way to think. No matter what you are thinking or doing, you make sure it's the right thing. So, the start of my philosophical thought comes from Calvin and Hobbes. I am a big fan of cartoons. There are deep thoughts that have been put in to make them. The creators of those cartoons are people who are extremely learned about life. I have the entire series of Calvin and Hobbes, Tintin, Asterix and video tapes of Looney Tunes starring Bugs Bunny and Daffy Duck.
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