I have briefly described the concept of 'remittance economy' in a previous post . At its basic the concept of Remittance Economy means that remittances by workers abroad becoming a significant source of economic activity in the country; I am extending the definition to remittance money being spent creates growth in large cities, which in turn results in workers in large cities remitting money to their families smaller cities, towns and villages - thus creating a growth chain reaction. Consider this - Syam Sundar lives in San Francisco and remits money regularly to his family staying in Bangalore. Syam's family employs a maid, shops lavishly in the city's malls and employs a driver. The maid, the workers at the mall - from shop salesmen to cleaners all send money to their families in tier 2 cities, towns and villages in India. The family's driver Sreejeeth hails from a small nondescript town in Karnataka called Madhugiri. Sreejeeth sends money to his wife every mon

Web2.0 - the term coined by Tim O'Reilly gained a 100% acceptance in the 2008-2010 period; however the term Web3.0 never found a similar acceptance in Industry or Blogging circles. Of late the term -The Cloud - also referred to as Cloud Computing has gained a lot of popularity. With big and small names calling themselves Cloud Providers - it is the new buzzword for the internet economy. Web2.0 was the name given to the new breed of 'websites' which came about post the dot com bubble which converted websites from mere information portals into interactive 'services' which could be availed online. Web2.0 websites had interactive (Ajax enabled) user interfaces and provided collaborative platforms. As explained in detail by O'Reilly in this article [ http://oreilly.com/lpt/a/6228 ] - while Web2.0 is a combination of  lot of factors; the key is to harness collective wisdom through use of interactive interfaces and by providing features as services to users. The Cl

I have previously mentioned Prof Prasad on my blog - last time he had thrown open a question on Entrepreneurship education - this time he referred to the famous Stanford Commencement address by Steve Jobs [ text link ] [ video link ]- and asked questions regarding whether students need to follow Steve and drop out of their courses - here are my answers to his questions: 1. How many students despite agreeing to Steve Jobs follow him and drop out of the colleges? Is it a full proof method ? If it is, why not at least hundreds of Steve admirers not toeing to this? Is Steve approach is BEST for everybody and anybody? It's a question of Eco-system; we have to recognize that a successful entrepreneur is one out of several failed entrepreneurs. The probability of an aspiring entrepreneur succeeding depends on the ecosystem in which s/he comes out of. The Stanford of Steve Jobs years was built to generate professionals and academics - it was never designed to generate entrepreneurs -