Zerodha co-founder Nikhil Kamath expressed his admiration for Bengaluru, calling it his favourite city despite acknowledging the challenges it faces as the country’s startup capital. During his podcast, WTF, Nikhil Kamath highlighted Bengaluru’s unique qualities compared to other metropolitan cities, emphasising its superiority despite issues like poor roads and traffic.
He praised the city’s residents, stating, “The big, big differentiator at the end of the day—scr** all the roads, the traffic… those things don’t matter—the people of Bengaluru are second to none because of the love they have for the city, how nice they are as people.”
He also noted that Hyderabad is renowned for its “Biryani”, Mumbai for its “good-looking people,” and Delhi for “people who have a lot of money and they know it.” Whereas Bengaluru is celebrated for its amiable residents.
Nikhil Kamath further described the people of Bengaluru as “welcoming, normal, understated, and subtle.”
He mentioned that Bengaluru provides unparalleled access to talent, especially for startups. He stated that if one has to build something or start a company, the access to the talent available in Bengaluru at the cost it offers is incomparable, stating that he doesn’t think such access is available anywhere else in the world.
The Zerodha co-founder also disclosed that he and other business leaders in Bengaluru, including Biocon executive chairperson and billionaire Kiran Mazumdar-Shaw, frequently convene to brainstorm ways to enhance the city’s appeal.
He mentioned that they are continuously engaged in initiatives aimed at improving Bangalore both in reality and perception. One of the projects they are working on involves planting 10,000 cherry blossom trees in the city’s central area.
In March, Nikhil Kamath discussed Bengaluru in an interview with The Print, highlighting a concept he calls “paper wealth” that he believes is prevalent in the city. He described this as a facade of prosperity, primarily arising from people’s connections with tech companies.
According to Kamath, this wealth is intangible, linked to stock-based compensation in the tech industry. He emphasised that this type of wealth lacks liquidity, providing only the illusion of affluence.
Kamath expressed scepticism about current property valuations, describing them as “ridiculous and retarded.”
He pointed to prevailing interest rates and the disparity between rental yields and capital investment as reasons for his decision to avoid property ownership.
Despite his financial success, Kamath stated a preference for renting, highlighting his emotional attachment to his parents’ home as his only property ownership.
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