I'd never heard of Adani group until last week. Skyrocketed from nowhere through pandemic and Gautam Adani is now #2 richest person in the world??? 👀
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Seems like a fragile temp thing, since it's a commodities and infrastructure empire that seems to be bullish based on being close to Modi admin political agenda. Kinda like Dhirubai Ambani during Indira admin.
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We need a word for the Indian-style conglomerate. It has qualities distinct from the Keiretsu and Chaebol models of Japan and Korea. Ambani, Birla, Mittal, now Adani... the Tatas are slightly different, but in the same group if you draw the boundary more broadly.
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Feels like the age of post-tech wealth is here though. Commodities, renewables... all the messy, gritty shit that will be increasingly important as the world gets hotter and more violent.
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Post tech wealth for ONE business house. And the loans adani group takes come public sector banks literally the pool of India’s hard earned, middle class savings.

