Last week, we spoke about how manufacturing in India has been hobbled by the state for decades, and continues to be in a bad way. But does that mean the state should now direct its focus on it? No! Welcome to Episode 105 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In the second of a two-parter, Ajay lays out his argument for why the state should not pick winners, not just within a sector but also among sectors. State coercion makes everything worse! TABLE OF...
Jun 30, 2025•57 min•Season 1Ep. 105
Manufacturing in India was hobbled by the state for many decades after Independence — and is still not in great shape. Why is this so? How can we move forward? Welcome to Episode 104 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In the first of a two-parter, Ajay lays out the grim reality today, and Amit gives a historical perspective. In the next episode, we discuss why Industrial Policy would be the worst way to tackle this. TABLE OF CONTENTS: 00:00 Packagin...
Jun 23, 2025•1 hr 12 min•Season 1Ep. 104
Admit it, our last episode, You Should Start a Business, blew your mind. You couldn’t wait to get going! You wanted more! Welcome to Episode 103 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah. In this episode, Amit shares more gyan on starting a business. You have no excuse left now! Incorporate! TABLE OF CONTENTS: 00:00 Packaging 00:13 A Bumblebee Among the Social Butterflies 02:53 Chapter 0: Setting the Stage 05:02 Chapter 1: Be a Generalist 10:13 Chapter 2:...
Jun 15, 2025•1 hr 23 min•Season 1Ep. 103
Welcome to Episode 102 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. There are many good reasons to start a business. In this episode, Amit and Ajay take you through a few of them — and then Amit elaborates on the mindset you need to get started. This is Part 1 of a grand two-parter. If you don’t start a business after this, you are doomed! Start! Now! TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Eh, Chhoti Ladki! 06:34 Chapter 1: Why You Should Start a Bus...
Jun 06, 2025•51 min•Season 1Ep. 102
When we think about state intervention, the first principle we consider is whether it is necessary. But we should also think about whether it is possible — and how easy or hard it is. How do we figure this out? Welcome to Episode 101 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay lays out the metrics by which we can judge the difficulty of a proposed state intervention. Monetary policy is easy. Financial regulation is hard. Let’s understan...
Jun 06, 2025•44 min•Season 1Ep. 101
We’ve reached episode 100 — HURRAY! — and it’s time for another session of Ask Me Anything. Amit and Ajay take questions from gentle readers about a variety of subjects, from Ajay’s love of suffering to Amit’s (dubious) haircare. (The two are not related.) Mad fun, watch! TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Under the Banyan Tree 03:38 The Questions Begin! 1:40:10 NOT the Last Bow For full show notes, please click here ....
May 23, 2025•1 hr 42 min•Season 1Ep. 100
Regulation always has the potential to go wrong. But in India, it’s been worse than in much of the world. It has become a tool of oppression of the worst kind. Welcome to Episode 99 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit talks about the theory of regulation in general — and Ajay delivers a masterclass on how the Indian state turned it into a horror film. Despite that, the episode begins and ends with good news! TABLE OF CONTENTS: 0...
May 23, 2025•1 hr 21 min•Season 1Ep. 99
We define a state as the entity that has a monopoly on violence. But does political authority lead to political legitimacy? How do we define legitimacy? What happens without it? How should we approach it as citizens. Welcome to Episode 98 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay draws from political philosophy to expand on the intricacies of the concept of political legitimacy. And at the end, Amit gives an impassioned monologue on w...
May 11, 2025•59 min•Season 1Ep. 98
We often assume that art and genius are the playground of the youth. Well, while giving himself an education in art during a vacation in Spain, Amit realised that all the great Spanish masters did their most powerful work in old age, when thehraav met mastery. The light in winter is different. Welcome to Episode 97 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit expands on his observation about the artistic possibilities of old age, while i...
May 02, 2025•1 hr 7 min•Season 1Ep. 97
Last week, we went through a 101 of globalisation: the first principles, why it rocks, why tariffs are terrible. We also did a potted history of how it spread and almost unravelled. Now, it’s time to come to these current times. Is globalisation doomed? Welcome to Episode 96 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay brings the narrative up to the present times. What GATT and the WTO achieved, why they weren’t enough, where the fault l...
Apr 26, 2025•1 hr 34 min•Season 1Ep. 96
Globalisation is great. Tariffs are terrible. But why? What is the history of trade? What is the history of the ideas around it? Today, more than ever, it is important to understand. Welcome to Episode 95 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay give a 101 masterclass on why globalisation is great — as well as a 101 history of globalisation so far. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The Need for a 101 05:52 Chap...
Apr 25, 2025•1 hr 10 min•Season 1Ep. 95
For all the toxicity of social media, it is also a source of much Good Gyan, as every day the best minds in the world think aloud for our benefit. Here’s another conversation about some more wisdom that we have gathered! Welcome to Episode 94 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Two Good Dogs 00:45 Good Gyan 1: Desire 04:23 GG 2: Greatness 22:40 GG 3: Productivity 24:26 GG 4: Normalcy 28:09 GG 5: Passion...
Apr 17, 2025•1 hr 9 min•Season 1Ep. 94
Social media may be addictive, even sometimes toxic, but it is almost magical in one gift it gives us: every day, the best minds in the world think aloud for our benefit. And some of us, gentle readers, are listening & taking notes. Welcome to Episode 93 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit shares nuggets from his Good Gyan folder on Twitter. He shares why he considers those tweets to be good gyan — and Ajay responds to them,...
Apr 14, 2025•59 min•Season 1Ep. 93
Too often, we think a Strong Man will solve all our problems, and that decisive leadership is all a nation needs. This could not be more wrong. We need strong rules, not strong rulers — and we need those strong rules to restrain the state. The secret to prosperity lies in rules, not discretion. Welcome to Episode 92 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay explains the history of a concept that is one of the most important in politic...
Apr 14, 2025•1 hr 20 min•Season 1Ep. 92
We think of the state as a monolithic beast -- but it should be anything but monolithic. The state exists to serve us, not rule us, and for that, we must have checks and balances -- and the best kind is the separation of powers. Welcome to Episode 91 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay explains why for democracy to be meaningful, a separation of powers is essential. We talk history, theory and India's story. TABLE OF CONTENTS: 0...
Mar 24, 2025•1 hr 1 min•Season 1Ep. 91
All of us suffer from constraints in our life. Some are small -- and some can be huge. We should take inspiration from people who have fought huge constraints and broken barriers despite the obstacles in their way -- and sometimes because of them. Welcome to Episode 90 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit takes us through a few inspiring stories of how a few pioneers used their constraints to break new ground. TABLE OF CONTENTS: ...
Mar 14, 2025•56 min•Season 1Ep. 90
There are few things a government can do to harm society more than Industrial policy. It sounds well-intentioned, but is born out of hubris and results in disaster. Welcome to Episode 89 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay breaks down the thinking behind industrial policy, the practice of it, and why it is always bad for the people. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The 500 Dollar Bill 08:01 Chapter 1: What is Indu...
Mar 14, 2025•1 hr 27 min•Season 1Ep. 89
Society needs free speech. Democracy needs free speech. For our lives to have meaning and purpose, WE need free speech. Welcome to Episode 88 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit lays out the case for free speech absolutism -- and also, the troubled history of free speech in India. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: It's Not All Black and White 03:02 Chapter 1: The Ranveer Episode 13:45 Chapter 2: The Arguments for F...
Mar 14, 2025•1 hr 4 min•Season 1Ep. 88
Humanity has progressed more in the last few decades than in all of history before that. Moore's Laws -- yes, we used the plural -- go some way in addressing that, as do a couple of other frameworks shared in this episode. Welcome to Episode 87 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, you will find mathematical joy, technological wonder and life lessons that are priceless. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Testing Ajay's Mat...
Feb 22, 2025•1 hr 16 min•Season 1Ep. 87
Amit had a minor heart attack recently. As he was put back together, he reflected on how the miraculous technology that was reviving & renewing him was a result of rebels questioning conventional thinking. Indeed, all progress depends upon that. Welcome to Episode 86 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss some rousing stories of heretics who reshaped the foundational thinking of their fields -- from the pioneer...
Feb 21, 2025•1 hr 32 min•Season 1Ep. 86
Our longest episode so far might also be the most fun. In episode 85 of Everything is Everything, Amit Varma and Ajay Shah tackle a barrage of words & concepts & names thrown at them with responses of Underrated, Overrated or Complicated -- and then they explain why they feel that way. Enjoy the lively disagreements! :) For magnificent, detailed, juicy show notes, click here .
Feb 12, 2025•2 hr 16 min•Season 1Ep. 85
War has changed. Sometimes, an act of war doesn't seem like war at all. Often it can't be detected, or attributed, or responded to. It's a messy world. Welcome to Episode 84 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay lays out the many kinds of Hybrid Warfare in this modern world -- and the incentives that drive them. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: 'Not in an amorous way' 02:10 Chapter 1: The Middle Zone of Hybrid War 0...
Feb 04, 2025•1 hr 24 min•Season 1Ep. 84
What is atheism? Is it a belief system? Is it political? Don't we need religion in our lives? Welcome to Episode 83 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit describes the thought processes that led to him becoming a non-believer -- and busts common myths around atheism. TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: Why Atheism? 02:34 Chapter 1: Atheism is Not a Belief But an Absence of Belief 06:24 Chapter 2: Atheist & Agnostic...
Jan 27, 2025•43 min•Season 1Ep. 83
A policy that works in one country often cannot simply be transplanted onto another. The invisible infrastructure that is needed to make it work may not exist. But what is this invisible infrastructure? Why is it invisible? Why do specialists often get it wrong? Why is everything everything? Welcome to Episode 82 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay elaborates on his frequent exhortation that before we talk about policy, we must ...
Jan 27, 2025•1 hr•Season 1Ep. 82
Chess is a beautiful game -- and holds many lessons for life. A lot happened in chess in 2024: Gukesh Dommaraju won the World Chess Championships, Arjun Erigaisi reached 2809, India won Olympiad golds, Magnus Carlsen threw his weight around -- and there are Life Lessons in it for all of us. Welcome to Episode 81 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit shares the nuances in the events in chess in 2024 -- and draws timeless learnings ...
Jan 15, 2025•1 hr 19 min•Season 1Ep. 81
Firms are awesome. So is creative destruction. In a well-functioning market, firms die, new firms are born, there is rebirth and renewal. For this to play out smoothly, there has to be a good bankruptcy process, so that resources & people are not tied up in unproductive zombie firms. Welcome to Episode 80 of Everything is Everything, a weekly podcast hosted by Amit Varma & Ajay Shah. In this episode, Ajay lays out a masterclass on a) how to think about bankruptcy; & b) how bankruptcy...
Jan 06, 2025•1 hr 10 min•Season 1Ep. 80
There is a man who steals the electricity bills of everyone in his apartment block. Why? Can he find love and redemption? Two young Sikhs take a stand defending a bridge. Why? What do they really want? Two great chess players take each other on. Are they playing the game on the board, or some other game? There is a child in the mail. What? A child in the MAIL? Welcome to Episode 79 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay la...
Dec 28, 2024•54 min•Season 1Ep. 79
Nuclear power has been given a bad name. It is the safest form of energy, and a huge leap forward in solving for climate change. What's more, with small modular reactors becoming feasible, it may end up being far cheaper than it used to be as well. Welcome to Episode 78 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay put forward the case for nuclear electricity -- and Ajay describes in detail how India should think about it. They a...
Dec 28, 2024•54 min•Season 1Ep. 78
Many of the objects we grew up with have disappeared with time -- and overall, progress is a damn good thing. But many of these lost objects also represent a different way of doing things and of living life, and some of that would have been worth holding on to. Welcome to Episode 77 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay share objects from their past -- and what they represented then and mean now. TABLE OF CONTENTS: 00:00 ...
Dec 19, 2024•1 hr•Season 1Ep. 77
Hinduism contains multitudes -- and is contained by multitudes. Any simple story you tell about it is bound to be false. Welcome to Episode 76 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay put together a potted history of Hinduism that goes beyond simple narratives and acknowledges its complexity. They also try to make sense of the historical circumstances and incentives that shaped it. TABLE OF CONTENTS: 00:00 Packaging 00:13 In...
Dec 19, 2024•1 hr 17 min•Season 1Ep. 76
