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The Earnicorns: Stories of Rare Profitable Unicorns: Naukri.com, Zerodha, Dream11, Zoho
It is an accepted fact that Internet-related businesses are largely loss making. Dhruv Nath uncovers the secrets of four highly respected Internet giants which defy this trend boldly. The book narrates the story of four market Naukri.com, Zerodha, Zoho and Dream11, and how these companies managed to become profitable and stay that way.
These are stories about phenomenal companies and their equally phenomenal founders. How Zoho transformed rural Tamil Nadu, by recruiting young boys and girls who could not afford to go to a decent college. And nurturing them into becoming star programmers. Nithin Kamath, the outstandingly humble founder of Zerodha, who shocked the nation by charging absolutely no brokerage from investors. Sanjeev Bikhchandani, who started Naukri.com from the servant’s quarters above his father’s garage, using second-hand computers and furniture. And subsequently, grew the business to a point where they have an unbelievable 70 per cent share of the market for white-collar jobs. Harsh Jain of Dream11, who built a roaring fantasy sports platform when everyone advised him not to.
These are stories about phenomenal companies and their equally phenomenal founders. How Zoho transformed rural Tamil Nadu, by recruiting young boys and girls who could not afford to go to a decent college. And nurturing them into becoming star programmers. Nithin Kamath, the outstandingly humble founder of Zerodha, who shocked the nation by charging absolutely no brokerage from investors. Sanjeev Bikhchandani, who started Naukri.com from the servant’s quarters above his father’s garage, using second-hand computers and furniture. And subsequently, grew the business to a point where they have an unbelievable 70 per cent share of the market for white-collar jobs. Harsh Jain of Dream11, who built a roaring fantasy sports platform when everyone advised him not to.
- GenresBusinessNonfiction
354 pages, Kindle Edition
Published June 24, 2024
19 people are currently reading
117 people want to read
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Displaying 1 - 30 of 262 reviews
July 20, 2024
I recently delved into The Earnicorns: Stories of Rare Profitable Unicorns by Dhruv Nath, and it was an immensely inspiring and educational read.
Having read Funding Your Startup in May, I was familiar with Nath’s engaging style.
This new book did not disappoint, showcasing the success stories of Naukri.com, Zerodha, Dream11, and Zoho. Each company's journey defies the notion that internet-related businesses are often loss-making.
The book highlights the importance of resourcefulness, bold customer-centric decisions, perseverance, and social impact.
Dhruv Nath also introduces the PERSISTENT and PERFECT Attitude models, providing a comprehensive framework for understanding business success.
This book is a must-read for aspiring entrepreneurs and those interested in the stories behind successful unicorns.
Read the detailed review here - Books Chharming
Having read Funding Your Startup in May, I was familiar with Nath’s engaging style.
This new book did not disappoint, showcasing the success stories of Naukri.com, Zerodha, Dream11, and Zoho. Each company's journey defies the notion that internet-related businesses are often loss-making.
The book highlights the importance of resourcefulness, bold customer-centric decisions, perseverance, and social impact.
Dhruv Nath also introduces the PERSISTENT and PERFECT Attitude models, providing a comprehensive framework for understanding business success.
This book is a must-read for aspiring entrepreneurs and those interested in the stories behind successful unicorns.
Read the detailed review here - Books Chharming
October 21, 2025
The book has some interesting anecdotes about these four companies and their founders especially. however, the tone of the author makes it a really hard read. Forced humor and personalization diverts the focus from the companies and their business models. It could have been more effective had it been a concise book. Read it only if you have patience or you really want to know about these four companies
June 14, 2025
Book Review: The Earnicorns by Dhruv Nath
The Earnicorns by Dhruv Nath stands out as a rare gem in a landscape dominated by “growth at all costs.” Nath’s incisive analysis of four Indian unicorns—Naukri.com, Zerodha, Zoho, and Dream11—offers a refreshing antidote to the tech industry’s obsession with burn rates and exit strategies.
Nath’s narrative is both meticulous and accessible, making complex business strategies feel like insider conversations rather than textbook case studies. Each chapter spotlights a founder’s journey—Sanjeev Bikhchandani’s scrappy bootstrapping of Naukri.com, Nithin Kamath’s zero-brokerage revolution at Zerodha, Sridhar Vembu’s rural talent empowerment at Zoho, and Harsh Jain’s audacious fantasy sports empire at Dream11. Nath doesn’t just chronicle their triumphs; he dissects their setbacks, pivots, and the hard-won wisdom that made them profitable in a sea of loss-making peers.
What resonates most is the book’s focus on unit economics, customer-centricity, and capital efficiency—principles that every VC preaches but rarely sees executed with such discipline. Zerodha’s rejection of traditional marketing spend, Zoho’s investment in rural talent, and Dream11’s grassroots community building are textbook examples of how to build moats without burning cash. These are not just Indian anomalies; they are global blueprints for sustainable growth.
The stories of these “earnicorns” are inspiring, but they also serve as a mirror to the systemic barriers that women face in accessing capital and leadership roles. Nath’s focus on sustainable, capital-efficient models is a clarion call for the industry to broaden its lens and invest in diverse, resilient teams—not just flashy, male-dominated narratives.
Moreover, Zoho’s commitment to nurturing young men and women from rural backgrounds is a subtle but powerful example of inclusive growth. In an industry where female representation in tech is still abysmally low, Zoho’s model offers a blueprint for how companies can drive social impact while staying profitable.
Overall, this is a great read for anyone who has their own business or wants to start one.
5✨
The Earnicorns by Dhruv Nath stands out as a rare gem in a landscape dominated by “growth at all costs.” Nath’s incisive analysis of four Indian unicorns—Naukri.com, Zerodha, Zoho, and Dream11—offers a refreshing antidote to the tech industry’s obsession with burn rates and exit strategies.
Nath’s narrative is both meticulous and accessible, making complex business strategies feel like insider conversations rather than textbook case studies. Each chapter spotlights a founder’s journey—Sanjeev Bikhchandani’s scrappy bootstrapping of Naukri.com, Nithin Kamath’s zero-brokerage revolution at Zerodha, Sridhar Vembu’s rural talent empowerment at Zoho, and Harsh Jain’s audacious fantasy sports empire at Dream11. Nath doesn’t just chronicle their triumphs; he dissects their setbacks, pivots, and the hard-won wisdom that made them profitable in a sea of loss-making peers.
What resonates most is the book’s focus on unit economics, customer-centricity, and capital efficiency—principles that every VC preaches but rarely sees executed with such discipline. Zerodha’s rejection of traditional marketing spend, Zoho’s investment in rural talent, and Dream11’s grassroots community building are textbook examples of how to build moats without burning cash. These are not just Indian anomalies; they are global blueprints for sustainable growth.
The stories of these “earnicorns” are inspiring, but they also serve as a mirror to the systemic barriers that women face in accessing capital and leadership roles. Nath’s focus on sustainable, capital-efficient models is a clarion call for the industry to broaden its lens and invest in diverse, resilient teams—not just flashy, male-dominated narratives.
Moreover, Zoho’s commitment to nurturing young men and women from rural backgrounds is a subtle but powerful example of inclusive growth. In an industry where female representation in tech is still abysmally low, Zoho’s model offers a blueprint for how companies can drive social impact while staying profitable.
Overall, this is a great read for anyone who has their own business or wants to start one.
5✨
July 11, 2024
This book talks about early-stage companies. Companies that are run by young founders. The companies that have faced problems and challenges at multiple stages have overcome them to become the giants that they are today. Now the question is wouldn't you like to learn from these companies that rare breed of startups that have become unicorns and are profitable at the same time? Also, would you want to know what the term UNICORNS is?
Readers, this book is a gem for start-ups and people who are trying to build their careers as an entrepreneur. The book not only talks about the success or the profits but also talks about the failures, the do's and the don'ts, and how the people have overcome the great losses they have faced at the initial stages of their lives. The book gives you real-life examples of how people have tried very hard to achieve the success rate that they have today and also what guided them the most in their journey to success.
This book is written in the simplest form so that every single human being who is trying hard to make his status in society can benefit from the steps shared by the author. I benefited a lot from all the techniques, examples, and tricks the author has shared and definitely gonna utilize them.
Readers, this book is a gem for start-ups and people who are trying to build their careers as an entrepreneur. The book not only talks about the success or the profits but also talks about the failures, the do's and the don'ts, and how the people have overcome the great losses they have faced at the initial stages of their lives. The book gives you real-life examples of how people have tried very hard to achieve the success rate that they have today and also what guided them the most in their journey to success.
This book is written in the simplest form so that every single human being who is trying hard to make his status in society can benefit from the steps shared by the author. I benefited a lot from all the techniques, examples, and tricks the author has shared and definitely gonna utilize them.
July 22, 2024
"The Earnicorns" by Dhruv Nath is a compelling exploration into the world of profitable unicorns, aptly termed "earnicorns." This book offers readers an insightful look into four exceptional Indian start-ups—Naukri.com, Zerodha, Dream11, and Zoho—that have not only achieved unicorn status but have also sustained profitability, defying the typical trend of loss-making unicorns.
Nath, an experienced angel investor and mentor, brings his expertise and keen observations to the forefront, making the book both informative and engaging. He delves into the unique journeys of these companies, highlighting the innovative strategies and resilient leadership that have set them apart in the competitive start-up ecosystem. The narrative is enriched with anecdotes and practical lessons, making it a valuable resource for aspiring entrepreneurs and business enthusiasts.
One of the book's strengths lies in its accessibility. Nath's conversational style, peppered with humor and personal reflections, makes complex business concepts easy to grasp. His emphasis on learning from the successes and failures of these earnicorns provides readers with actionable insights, encouraging them to think critically about their own ventures.
Overall, "The Earnicorns" is an inspiring read that celebrates the spirit of entrepreneurship and the pursuit of sustainable success. Whether you're a start-up founder, investor, or simply curious about the dynamics of profitable businesses, this book offers a wealth of knowledge and inspiration.
Nath, an experienced angel investor and mentor, brings his expertise and keen observations to the forefront, making the book both informative and engaging. He delves into the unique journeys of these companies, highlighting the innovative strategies and resilient leadership that have set them apart in the competitive start-up ecosystem. The narrative is enriched with anecdotes and practical lessons, making it a valuable resource for aspiring entrepreneurs and business enthusiasts.
One of the book's strengths lies in its accessibility. Nath's conversational style, peppered with humor and personal reflections, makes complex business concepts easy to grasp. His emphasis on learning from the successes and failures of these earnicorns provides readers with actionable insights, encouraging them to think critically about their own ventures.
Overall, "The Earnicorns" is an inspiring read that celebrates the spirit of entrepreneurship and the pursuit of sustainable success. Whether you're a start-up founder, investor, or simply curious about the dynamics of profitable businesses, this book offers a wealth of knowledge and inspiration.
December 30, 2025
• We often hear about startups raising huge amounts of money, spending like there’s no tomorrow, and still not turning a profit. But this book is about the rare ones that did things differently they earned, they grew, and they lasted. *The Earnicorns* is about Naukri.com, Zerodha, Dream11, and Zoho four Indian companies that focused on profits instead of just hype.
• What I liked most is how simple and real these stories felt. These founders didn’t start out with fancy offices or big money. They started small with big ideas, smart risks, and a lot of patience. It shows that you don’t need to follow the crowd to build something powerful.
• The book doesn’t use complex business terms or boring theory. It’s written in a way that feels like someone is sharing stories over a casual chat. There are helpful takeaways at the end of each story, but the real value is in the journeys the ups, the downs, and the smart decisions along the way.
• Zoho’s focus on rural talent, Zerodha’s refusal to take investor money, Naukri’s scrappy beginning each story has something inspiring to offer. It’s not about luck or trends. It’s about doing the basics right, building with heart, and thinking long-term.
—
Quotes That Stuck With Me :
• We didn’t take money so we had to make money.
—
Pacing & Flow – 4/5
Real-World Lessons – 4.5/5
Writing Style – 4/5
Inspiration – 4.5/5
Overall Value – 4/5
—
Final Thoughts:
I picked this up thinking it might be like every other business book, but it surprised me. It’s simple, honest, and full of practical wisdom. You don’t need to be a founder to enjoy this if you’re even a little curious about how real, profitable companies are built in India, this book is a great place to start.
It’s proof that you don’t need millions to make an impact. Sometimes, slow and steady really does win the race.
• What I liked most is how simple and real these stories felt. These founders didn’t start out with fancy offices or big money. They started small with big ideas, smart risks, and a lot of patience. It shows that you don’t need to follow the crowd to build something powerful.
• The book doesn’t use complex business terms or boring theory. It’s written in a way that feels like someone is sharing stories over a casual chat. There are helpful takeaways at the end of each story, but the real value is in the journeys the ups, the downs, and the smart decisions along the way.
• Zoho’s focus on rural talent, Zerodha’s refusal to take investor money, Naukri’s scrappy beginning each story has something inspiring to offer. It’s not about luck or trends. It’s about doing the basics right, building with heart, and thinking long-term.
—
Quotes That Stuck With Me :
• We didn’t take money so we had to make money.
—
Pacing & Flow – 4/5
Real-World Lessons – 4.5/5
Writing Style – 4/5
Inspiration – 4.5/5
Overall Value – 4/5
—
Final Thoughts:
I picked this up thinking it might be like every other business book, but it surprised me. It’s simple, honest, and full of practical wisdom. You don’t need to be a founder to enjoy this if you’re even a little curious about how real, profitable companies are built in India, this book is a great place to start.
It’s proof that you don’t need millions to make an impact. Sometimes, slow and steady really does win the race.
Want to read
December 5, 2025It is an inspiring and eye-opening read about four Indian startups—Naukri.com, Zerodha, Dream11, and Zoho—that became unicorns without chasing huge funding or burning cash.
What makes this book stand out is its focus on profitability over hype. In today’s startup world, we hear so much about companies raising millions but losing even more. This book highlights the opposite—businesses that grew smartly, solved real problems, and made money from the start.
The writing is simple and easy to follow, even for readers with no business background. Each chapter tells the journey of one startup, with interesting stories, lessons, and founder insights. It’s like having a friendly conversation about what really works in the world of business.
I highly recommend this book to aspiring entrepreneurs, students, and anyone curious about the Indian startup ecosystem. It’s a refreshing take on how long-term thinking, strong values, and customer focus can lead to big success.
This isn’t just a book about unicorns. It’s about “Earnicorns”—companies that earned their success, the right way.
What makes this book stand out is its focus on profitability over hype. In today’s startup world, we hear so much about companies raising millions but losing even more. This book highlights the opposite—businesses that grew smartly, solved real problems, and made money from the start.
The writing is simple and easy to follow, even for readers with no business background. Each chapter tells the journey of one startup, with interesting stories, lessons, and founder insights. It’s like having a friendly conversation about what really works in the world of business.
I highly recommend this book to aspiring entrepreneurs, students, and anyone curious about the Indian startup ecosystem. It’s a refreshing take on how long-term thinking, strong values, and customer focus can lead to big success.
This isn’t just a book about unicorns. It’s about “Earnicorns”—companies that earned their success, the right way.
October 29, 2025
The author must be awarded for converting a two page profile for each of the four companies into a 280 page book! You get more information in a simple google search about the subject than what is presented here. It’s no more than a terrible attempt to claim oneself as a serial author which is so bad that he uses emojis in a black and white printed hard copy! I have always found most Indian authors writing substandard finance/business books which as a Proud Indian I’m not very proud of and this book is no different. The research is substandard or non-existent; writing extremely irritating and you are left with nothing but a sigh of relief once you finish this nonsense!
March 4, 2025
📚 Book Review: *The Earnicorns: Stories of Rare Profitable Unicorns*
---
#Part 1: Book Details & Summary
1️⃣ Book Details:
- Title: The Earnicorns: Stories of Rare Profitable Unicorns
- Author: Dhruv Nath
- Genre: Business/Non-Fiction
- Target Audience: Aspiring entrepreneurs, business leaders, investors
2️⃣ Setting:
The book unfolds in India’s dynamic startup ecosystem, spotlighting four real-world companies—Naukri.com, Zerodha, Zoho, and Dream11—that thrived against financial odds. These stories span bustling cities like Mumbai and Chennai to rural Tamil Nadu, reflecting how geography and culture shaped their innovative strategies. The vivid, grounded setting immerses readers in the grit and ingenuity of India’s entrepreneurial landscape.
3️⃣ Main Characters:
- Sanjeev Bikhchandani (Naukri.com): A visionary who turned second-hand equipment into a job-market titan, proving resourcefulness trumps resources.
- Nithin Kamath (Zerodha): A disruptor who democratized stock trading by eliminating brokerage fees, prioritizing accessibility over tradition.
- Sridhar Vembu (Zoho): A socially conscious leader who nurtured rural talent, blending profitability with community empowerment.
- Harsh Jain (Dream11): A tenacious innovator who defied skepticism to pioneer India’s fantasy sports revolution.
Each founder’s humility and ethical ethos make them relatable, while their transformative journeys highlight resilience and adaptability.
4️⃣ Plot and Problem Area:
The narrative dissects how these "earnicorns" (profitable unicorns) conquered industries riddled with loss-making rivals. Challenges included skepticism, financial constraints, and market saturation. Zerodha’s fee-free model, Zoho’s rural talent hub, and Dream11’s fantasy sports gamble exemplify bold problem-solving. The fast-paced storytelling balances triumphs with raw struggles, culminating in lessons on sustainable growth.
---
#Part 2: My Opinion
1️⃣ Strengths/Things I Liked Most:
- Founder-Centric Narratives: The humanized accounts of the entrepreneurs’ grit and ethics are deeply motivational.
- Actionable Frameworks: The PERSISTENT (e.g., Problem-Solving, Scalability) and PERFECT Attitude (e.g., Ethical, Customer-Oriented) models distill success into replicable strategies.
- Accessible Style: Nath’s conversational tone and witty anecdotes make complex business concepts digestible.
- Emotional Resonance: Moments like Zoho’s rural empowerment or Naukri.com’s humble origins stir admiration and hope.
2️⃣ Weaknesses/Things I Didn't Like:
- Limited Global Context: Focused solely on Indian startups, readers might crave cross-border comparisons.
- Surface-Level Challenges: Some struggles (e.g., regulatory hurdles) could benefit from deeper exploration.
- Repetitive Themes: Profitability and ethics are emphasized repeatedly, occasionally overshadowing nuanced setbacks.
3️⃣ Message/Theme:
The core message champions 'sustainable entrepreneurship'—prioritizing profitability, ethics, and customer needs over fleeting valuation spikes. It’s a timely antidote to “growth-at-all-costs” mentalities, urging founders to build trust and adaptability.
4️⃣ Author's Writing Style:
Nath’s prose is refreshingly jargon-free, blending humor, quotes, and vivid anecdotes. The tone balances admiration with critical inquiry, making it ideal for both novices and seasoned professionals.
---
#Part 3: Conclusion
1️⃣ My Opinion with Reasons:
This book reshaped my view of success—profitability and purpose aren’t mutually exclusive. While I wished for more global examples, the Indian focus offers cultural richness. Nath’s knack for storytelling ensures I’d explore his other works. Compared to *Zero to One* or *Lean Startup*, *Earnicorns* stands out for its regional specificity and ethical lens.
2️⃣ Final Verdict:
A 'must-read' for entrepreneurs seeking inspiration beyond Silicon Valley tropes. Ideal for those valuing social impact alongside revenue. Post-read, you’ll feel a mix of awe and urgency—ready to innovate responsibly.
3️⃣ Rating of the Book:
4.5/5 ⭐
- Plot: 4.5/5 (Captivating, but craved deeper conflict)
- Characters: 5/5 (Founders’ authenticity shines)
- Writing Style: 4.5/5 (Engaging, yet occasionally repetitive)
- Themes: 5/5 (Timely and transformative)
---
#Bonus Elements
📖 Memorable Quotes:
- “Profitability isn’t a compromise—it’s a compass.”
- “Build with purpose, not just passion.”
🎨 Cover Analysis:
The minimalist design—a unicorn morphing into a rupee symbol—cleverly captures the “earnicorn” ethos. While understated, it invites curiosity.
📈 Emotional Impact:
From Zoho’s rural programmers to Zerodha’s market disruption, the book sparks equal parts pride and introspection.
💬 Comparison:
Think *Shark Tank* meets *India's TOP minds!*—a blend of business acumen and human drama.
📚 Recommendation:
Perfect for startup founders, MBA students, or anyone tired of glorified “hustle culture.” Keep it handy for moments needing a reality check or spark of courage.
---
💡 Final Thoughts:
'The Earnicorns' isn’t just a book—it’s a manifesto for redefining success. Dhruv Nath proves that profitability and integrity can coexist, one visionary founder at a time. 🌟
---
#Part 1: Book Details & Summary
1️⃣ Book Details:
- Title: The Earnicorns: Stories of Rare Profitable Unicorns
- Author: Dhruv Nath
- Genre: Business/Non-Fiction
- Target Audience: Aspiring entrepreneurs, business leaders, investors
2️⃣ Setting:
The book unfolds in India’s dynamic startup ecosystem, spotlighting four real-world companies—Naukri.com, Zerodha, Zoho, and Dream11—that thrived against financial odds. These stories span bustling cities like Mumbai and Chennai to rural Tamil Nadu, reflecting how geography and culture shaped their innovative strategies. The vivid, grounded setting immerses readers in the grit and ingenuity of India’s entrepreneurial landscape.
3️⃣ Main Characters:
- Sanjeev Bikhchandani (Naukri.com): A visionary who turned second-hand equipment into a job-market titan, proving resourcefulness trumps resources.
- Nithin Kamath (Zerodha): A disruptor who democratized stock trading by eliminating brokerage fees, prioritizing accessibility over tradition.
- Sridhar Vembu (Zoho): A socially conscious leader who nurtured rural talent, blending profitability with community empowerment.
- Harsh Jain (Dream11): A tenacious innovator who defied skepticism to pioneer India’s fantasy sports revolution.
Each founder’s humility and ethical ethos make them relatable, while their transformative journeys highlight resilience and adaptability.
4️⃣ Plot and Problem Area:
The narrative dissects how these "earnicorns" (profitable unicorns) conquered industries riddled with loss-making rivals. Challenges included skepticism, financial constraints, and market saturation. Zerodha’s fee-free model, Zoho’s rural talent hub, and Dream11’s fantasy sports gamble exemplify bold problem-solving. The fast-paced storytelling balances triumphs with raw struggles, culminating in lessons on sustainable growth.
---
#Part 2: My Opinion
1️⃣ Strengths/Things I Liked Most:
- Founder-Centric Narratives: The humanized accounts of the entrepreneurs’ grit and ethics are deeply motivational.
- Actionable Frameworks: The PERSISTENT (e.g., Problem-Solving, Scalability) and PERFECT Attitude (e.g., Ethical, Customer-Oriented) models distill success into replicable strategies.
- Accessible Style: Nath’s conversational tone and witty anecdotes make complex business concepts digestible.
- Emotional Resonance: Moments like Zoho’s rural empowerment or Naukri.com’s humble origins stir admiration and hope.
2️⃣ Weaknesses/Things I Didn't Like:
- Limited Global Context: Focused solely on Indian startups, readers might crave cross-border comparisons.
- Surface-Level Challenges: Some struggles (e.g., regulatory hurdles) could benefit from deeper exploration.
- Repetitive Themes: Profitability and ethics are emphasized repeatedly, occasionally overshadowing nuanced setbacks.
3️⃣ Message/Theme:
The core message champions 'sustainable entrepreneurship'—prioritizing profitability, ethics, and customer needs over fleeting valuation spikes. It’s a timely antidote to “growth-at-all-costs” mentalities, urging founders to build trust and adaptability.
4️⃣ Author's Writing Style:
Nath’s prose is refreshingly jargon-free, blending humor, quotes, and vivid anecdotes. The tone balances admiration with critical inquiry, making it ideal for both novices and seasoned professionals.
---
#Part 3: Conclusion
1️⃣ My Opinion with Reasons:
This book reshaped my view of success—profitability and purpose aren’t mutually exclusive. While I wished for more global examples, the Indian focus offers cultural richness. Nath’s knack for storytelling ensures I’d explore his other works. Compared to *Zero to One* or *Lean Startup*, *Earnicorns* stands out for its regional specificity and ethical lens.
2️⃣ Final Verdict:
A 'must-read' for entrepreneurs seeking inspiration beyond Silicon Valley tropes. Ideal for those valuing social impact alongside revenue. Post-read, you’ll feel a mix of awe and urgency—ready to innovate responsibly.
3️⃣ Rating of the Book:
4.5/5 ⭐
- Plot: 4.5/5 (Captivating, but craved deeper conflict)
- Characters: 5/5 (Founders’ authenticity shines)
- Writing Style: 4.5/5 (Engaging, yet occasionally repetitive)
- Themes: 5/5 (Timely and transformative)
---
#Bonus Elements
📖 Memorable Quotes:
- “Profitability isn’t a compromise—it’s a compass.”
- “Build with purpose, not just passion.”
🎨 Cover Analysis:
The minimalist design—a unicorn morphing into a rupee symbol—cleverly captures the “earnicorn” ethos. While understated, it invites curiosity.
📈 Emotional Impact:
From Zoho’s rural programmers to Zerodha’s market disruption, the book sparks equal parts pride and introspection.
💬 Comparison:
Think *Shark Tank* meets *India's TOP minds!*—a blend of business acumen and human drama.
📚 Recommendation:
Perfect for startup founders, MBA students, or anyone tired of glorified “hustle culture.” Keep it handy for moments needing a reality check or spark of courage.
---
💡 Final Thoughts:
'The Earnicorns' isn’t just a book—it’s a manifesto for redefining success. Dhruv Nath proves that profitability and integrity can coexist, one visionary founder at a time. 🌟
July 14, 2024
Ever find yourself wondering how some internet companies manage to turn a profit while most seem to be swimming in red ink? Dhruv Nath's "The Earnicorns: Stories of Rare Profitable Unicorns" dives into the captivating tales of four Indian giants—Naukri.com, Zerodha, Zoho, and Dream11—that have figured out how to stay in the black. I was instantly intrigued, eager to uncover the secrets behind their success.
This book is like a treasure trove of startup fairy tales, but grounded in the gritty reality of the business world. Naukri.com started humbly in a servant's quarters and now dominates the job market for white-collar workers. Zerodha flipped the brokerage industry on its head by not charging fees. Zoho operates out of a village, focusing on employee welfare and data privacy. And Dream11 defied all odds to build a booming fantasy sports platform. Each story is unique, filled with obstacles and triumphs that set these companies apart from their peers.
Dhruv Nath’s writing style is like a breath of fresh air. He skips the heavy jargon and opts for a friendly, conversational tone that makes you feel like you're sitting across from him, having a chat about these fascinating companies. His storytelling is engaging, with plenty of quotes from the founders that add a personal touch. The prose is clear and easy to follow, making complex business strategies accessible and interesting.
The real stars of this book are the incredible founders behind these companies. Sanjeev Bikhchandani of Naukri.com, Nithin Kamath of Zerodha, Sridhar Vembu of Zoho, and Harsh Jain of Dream11 each have compelling stories and unique approaches to business. Their commitment to innovation, customer satisfaction, and ethical practices is both inspiring and thought-provoking. These are not just business leaders; they're visionaries with a deep sense of purpose.
Each company gets its own chapter, making it easy to follow their individual journeys. The pacing is just right, with enough detail to keep you informed without getting bogged down. The structure helps you fully appreciate each company’s path to success, with clear insights into their strategies and challenges. It's like reading a series of mini-biographies, each with its own lessons and takeaways.
"The Earnicorns" is all about challenging the status quo. It pushes back against the idea that startups must burn through cash to grow. Instead, it champions profitability, customer focus, and ethical business practices. These themes resonate deeply, especially in today’s startup culture where chasing investor money often takes precedence over building a sustainable business. It's a refreshing perspective that offers hope and practical advice.
Reading about these founders’ journeys is genuinely moving. Whether it’s Zoho’s efforts to protect employees during the lockdown or Naukri.com’s humble beginnings, the book is filled with moments that are both heartwarming and inspiring. It makes you believe in the power of perseverance and innovative thinking. I found myself rooting for these companies and feeling a deep respect for their founders' dedication and vision.
What I loved most about this book is its relatability and practical insights. Dhruv Nath manages to make business strategies accessible and engaging. The stories are not just informative; they're motivational. The clear writing style and detailed examples, like Zerodha’s use of open-source software, highlight smart, real-world applications. It's packed with lessons that any aspiring entrepreneur can apply.
If I had to nitpick, I'd say the book could use a bit more depth in exploring the challenges each company faced. Also, it focuses solely on Indian companies, which might be a limitation for those seeking a broader, global perspective. A few more case studies from different regions would have provided a more comprehensive view. But honestly, these are minor quibbles in an otherwise excellent book.
As someone fascinated by startups and entrepreneurship, "The Earnicorns" hit all the right notes for me. The emphasis on ethical practices and customer-centricity particularly resonated. Dhruv Nath's narrative made complex strategies easy to understand and left me feeling inspired and motivated. It's a book that makes you believe in the power of doing things differently and staying true to your values.
All in all, "The Earnicorns: Stories of Rare Profitable Unicorns" is a fantastic read for anyone interested in the startup world. Dhruv Nath’s engaging storytelling and insightful analysis make this book a must-read. Whether you're an aspiring entrepreneur or just curious about how some companies beat the odds, this book offers valuable lessons and plenty of inspiration. Grab a copy, and get ready to be inspired by these incredible "earnicorns"!
This book is like a treasure trove of startup fairy tales, but grounded in the gritty reality of the business world. Naukri.com started humbly in a servant's quarters and now dominates the job market for white-collar workers. Zerodha flipped the brokerage industry on its head by not charging fees. Zoho operates out of a village, focusing on employee welfare and data privacy. And Dream11 defied all odds to build a booming fantasy sports platform. Each story is unique, filled with obstacles and triumphs that set these companies apart from their peers.
Dhruv Nath’s writing style is like a breath of fresh air. He skips the heavy jargon and opts for a friendly, conversational tone that makes you feel like you're sitting across from him, having a chat about these fascinating companies. His storytelling is engaging, with plenty of quotes from the founders that add a personal touch. The prose is clear and easy to follow, making complex business strategies accessible and interesting.
The real stars of this book are the incredible founders behind these companies. Sanjeev Bikhchandani of Naukri.com, Nithin Kamath of Zerodha, Sridhar Vembu of Zoho, and Harsh Jain of Dream11 each have compelling stories and unique approaches to business. Their commitment to innovation, customer satisfaction, and ethical practices is both inspiring and thought-provoking. These are not just business leaders; they're visionaries with a deep sense of purpose.
Each company gets its own chapter, making it easy to follow their individual journeys. The pacing is just right, with enough detail to keep you informed without getting bogged down. The structure helps you fully appreciate each company’s path to success, with clear insights into their strategies and challenges. It's like reading a series of mini-biographies, each with its own lessons and takeaways.
"The Earnicorns" is all about challenging the status quo. It pushes back against the idea that startups must burn through cash to grow. Instead, it champions profitability, customer focus, and ethical business practices. These themes resonate deeply, especially in today’s startup culture where chasing investor money often takes precedence over building a sustainable business. It's a refreshing perspective that offers hope and practical advice.
Reading about these founders’ journeys is genuinely moving. Whether it’s Zoho’s efforts to protect employees during the lockdown or Naukri.com’s humble beginnings, the book is filled with moments that are both heartwarming and inspiring. It makes you believe in the power of perseverance and innovative thinking. I found myself rooting for these companies and feeling a deep respect for their founders' dedication and vision.
What I loved most about this book is its relatability and practical insights. Dhruv Nath manages to make business strategies accessible and engaging. The stories are not just informative; they're motivational. The clear writing style and detailed examples, like Zerodha’s use of open-source software, highlight smart, real-world applications. It's packed with lessons that any aspiring entrepreneur can apply.
If I had to nitpick, I'd say the book could use a bit more depth in exploring the challenges each company faced. Also, it focuses solely on Indian companies, which might be a limitation for those seeking a broader, global perspective. A few more case studies from different regions would have provided a more comprehensive view. But honestly, these are minor quibbles in an otherwise excellent book.
As someone fascinated by startups and entrepreneurship, "The Earnicorns" hit all the right notes for me. The emphasis on ethical practices and customer-centricity particularly resonated. Dhruv Nath's narrative made complex strategies easy to understand and left me feeling inspired and motivated. It's a book that makes you believe in the power of doing things differently and staying true to your values.
All in all, "The Earnicorns: Stories of Rare Profitable Unicorns" is a fantastic read for anyone interested in the startup world. Dhruv Nath’s engaging storytelling and insightful analysis make this book a must-read. Whether you're an aspiring entrepreneur or just curious about how some companies beat the odds, this book offers valuable lessons and plenty of inspiration. Grab a copy, and get ready to be inspired by these incredible "earnicorns"!
July 23, 2024
Dhruv Nath's "The Earnicorns" is a refreshing departure from the usual startup narratives that often glorify the pursuit of valuation over profitability. This book shines a spotlight on four Indian companies that have defied the odds to become 'Earnicorns', a term coined for profitable unicorns. It is a compelling exploration of four Indian startups that achieved the elusive combination of high valuations and profitability. The book features Naukri.com, Zerodha, Zoho, and Dream11, each representing unique paths to success in a landscape dominated by loss-making unicorns.
The book emphasizes several core themes: innovation, customer satisfaction, and ethical business practices. These themes are exemplified through the personal stories of the founders, such as Sanjeev Bikhchandani of Naukri.com, Nithin Kamath of Zerodha, Sridhar Vembu of Zoho, and Harsh Jain of Dream11. Their commitment to their visions and their innovative approaches to business are both inspiring and practical. The author also employs the PERSISTENT and PERFECT Attitude models to dissect how these companies not only survived but thrived in competitive markets.
Nath's narrative is not just about the financial success of these companies but also about their ability to adapt, innovate, and stay committed to their core values. The book provides a blend of storytelling and practical insights, making it an inspiring read for entrepreneurs and business enthusiasts.
Key Takeaways:
• Naukri.com: Founded by Sanjeev Bikhchandani, Naukri.com capitalized on the job market's needs, innovating continually to maintain its market leadership.
• Zerodha: Started by Nithin Kamath, Zerodha revolutionized stock trading in India with its discount broking model, making trading accessible to the masses.
• Dream11: Harsh Jain and Bhavit Sheth’s, Dream11 tapped into the fantasy sports market, showing the importance of understanding and engaging with the target audience.
• Zoho: Sridhar Vembu’s Zoho stands out for its commitment to developing software products in India while maintaining a strong focus on employee welfare and corporate social responsibility.
Dhruv Nath's analytical approach provides a detailed understanding of the specific challenges each company faced and how they overcame them. His use of real-life examples and interviews adds depth and authenticity to the narrative. The storytelling is both engaging and accessible, avoiding heavy business jargon and opting for a conversational tone that makes complex strategies easy to grasp. The book provides an in-depth look at how these companies built profitable, sustainable businesses through innovative strategies, customer-centric approaches, and ethical practices.
Lessons learned through this book:-
1) Importance of perseverance and innovation in achieving long-term success.
2) The role of customer orientation and social responsibility in building trust and loyalty.
3) Insights into effective resource management and strategic planning.
In conclusion it is a compelling read for anyone interested in entrepreneurship and the startup ecosystem. It provides not only inspiring success stories but also practical business insights that are relevant to aspiring entrepreneurs and business leaders alike
The book emphasizes several core themes: innovation, customer satisfaction, and ethical business practices. These themes are exemplified through the personal stories of the founders, such as Sanjeev Bikhchandani of Naukri.com, Nithin Kamath of Zerodha, Sridhar Vembu of Zoho, and Harsh Jain of Dream11. Their commitment to their visions and their innovative approaches to business are both inspiring and practical. The author also employs the PERSISTENT and PERFECT Attitude models to dissect how these companies not only survived but thrived in competitive markets.
Nath's narrative is not just about the financial success of these companies but also about their ability to adapt, innovate, and stay committed to their core values. The book provides a blend of storytelling and practical insights, making it an inspiring read for entrepreneurs and business enthusiasts.
Key Takeaways:
• Naukri.com: Founded by Sanjeev Bikhchandani, Naukri.com capitalized on the job market's needs, innovating continually to maintain its market leadership.
• Zerodha: Started by Nithin Kamath, Zerodha revolutionized stock trading in India with its discount broking model, making trading accessible to the masses.
• Dream11: Harsh Jain and Bhavit Sheth’s, Dream11 tapped into the fantasy sports market, showing the importance of understanding and engaging with the target audience.
• Zoho: Sridhar Vembu’s Zoho stands out for its commitment to developing software products in India while maintaining a strong focus on employee welfare and corporate social responsibility.
Dhruv Nath's analytical approach provides a detailed understanding of the specific challenges each company faced and how they overcame them. His use of real-life examples and interviews adds depth and authenticity to the narrative. The storytelling is both engaging and accessible, avoiding heavy business jargon and opting for a conversational tone that makes complex strategies easy to grasp. The book provides an in-depth look at how these companies built profitable, sustainable businesses through innovative strategies, customer-centric approaches, and ethical practices.
Lessons learned through this book:-
1) Importance of perseverance and innovation in achieving long-term success.
2) The role of customer orientation and social responsibility in building trust and loyalty.
3) Insights into effective resource management and strategic planning.
In conclusion it is a compelling read for anyone interested in entrepreneurship and the startup ecosystem. It provides not only inspiring success stories but also practical business insights that are relevant to aspiring entrepreneurs and business leaders alike
October 7, 2025
In recent times I have tried to diversify my reading journey. In my quest to do so I have started exploring inspiring stories of individuals or organizations form different industries. Despite that my love for startup stories remains intact. That love made me stumble upon yet another collection of wonderfully crafted startup stories. But this one is different from the ones I have read earlier considering this book has narrated stories of four of the most successful Internet startups of India but with a focus on a single common factor. To understand what that factor is and how this book is different from the earlier ones we have to dive deep. Let's go then.
The book I am talking about is The Earnicorns by Dhruv Nath. The book has quite a few interesting features that made me pick it. Firstly the title itself is quite unique. But those who keep regular updates on various developments in startup world or are aware of various terminologies associated with modern day business can probably understand the significance of the title (I am assuming so). Secondly the content of the book was something that I was really keen on as it covers the stories of four successful startups which are not just successful in terms of big revenues, big brand value or a large number of customer base. Instead all four of them have managed to successfully prioritize the most important component of a sustainable business & that is profitability. Yes, profitability is the single most focused factor of this book. That is something which caught my attention.
Most of the books focused on startup stories try to emphasize on factors like brand value, amount of funding raised, customer base, number of geographical areas covered or social media following. But this book is different as it is focused on the stories of real businesses rather than just outside noise. Also I was personally interested in one of the stories depicted in the book( Name of that story will be revealed further in the post:)). Lastly throughout the book you can find the glimpses of author's exemplary sense of humour. I have rarely seen somebody narrating even a serious business related topic with a tinge of humour with such ease. But I felt somehow that made it an interesting read.
Read the entire review here- https://dipakmohanty.blogspot.com/202...
The book I am talking about is The Earnicorns by Dhruv Nath. The book has quite a few interesting features that made me pick it. Firstly the title itself is quite unique. But those who keep regular updates on various developments in startup world or are aware of various terminologies associated with modern day business can probably understand the significance of the title (I am assuming so). Secondly the content of the book was something that I was really keen on as it covers the stories of four successful startups which are not just successful in terms of big revenues, big brand value or a large number of customer base. Instead all four of them have managed to successfully prioritize the most important component of a sustainable business & that is profitability. Yes, profitability is the single most focused factor of this book. That is something which caught my attention.
Most of the books focused on startup stories try to emphasize on factors like brand value, amount of funding raised, customer base, number of geographical areas covered or social media following. But this book is different as it is focused on the stories of real businesses rather than just outside noise. Also I was personally interested in one of the stories depicted in the book( Name of that story will be revealed further in the post:)). Lastly throughout the book you can find the glimpses of author's exemplary sense of humour. I have rarely seen somebody narrating even a serious business related topic with a tinge of humour with such ease. But I felt somehow that made it an interesting read.
Read the entire review here- https://dipakmohanty.blogspot.com/202...
November 19, 2024
Dhruv Nath’s The Earnicorns offers a compelling and insightful exploration into the rare breed of profitable unicorns, aptly termed “earnicorns.” Through the success stories of four remarkable Indian startups naukari.com, Zerodha, Dream11, and Zoho Nath examines how these companies have defied the trend of loss-making unicorns by achieving and sustaining profitability.
A Unique Perspective on Startups
As an experienced angel investor and mentor, Nath brings his expertise and sharp observations to this engaging narrative. The book delves into the journeys of these startups, uncovering the innovative strategies, bold decisions, and resilient leadership that have propelled them to profitability in an intensely competitive ecosystem. By focusing on these “earnicorns,” Nath shifts the narrative in the startup world, celebrating sustainable growth over mere valuation milestones.
Lessons for Entrepreneurs and Investors
The book is enriched with practical lessons and real-world anecdotes, making it a valuable resource for entrepreneurs, business leaders, and investors alike. Nath emphasizes the importance of financial discipline, customer-centric strategies, and adaptability core principles that set these earnicorns apart. By examining their successes and challenges, readers are encouraged to reflect on their own ventures and approach business with a sharper focus on long-term viability.
Accessible and Engaging Writing Style
One of the book’s greatest strengths is its accessibility. Nath’s conversational tone, infused with humor and personal reflections, breaks down complex business concepts into digestible insights. His storytelling style keeps readers engaged, while his use of relatable examples ensures that the lessons resonate with a broad audience, from aspiring entrepreneurs to seasoned professionals.
Final Thoughts
The Earnicorns is an inspiring celebration of entrepreneurship, resilience, and the pursuit of sustainable success. It offers actionable insights and thought-provoking perspectives that challenge conventional wisdom in the startup world. Whether you’re a founder, investor, or simply curious about what sets profitable businesses apart, this book provides a wealth of knowledge and inspiration.
Rating: 5/5
A Unique Perspective on Startups
As an experienced angel investor and mentor, Nath brings his expertise and sharp observations to this engaging narrative. The book delves into the journeys of these startups, uncovering the innovative strategies, bold decisions, and resilient leadership that have propelled them to profitability in an intensely competitive ecosystem. By focusing on these “earnicorns,” Nath shifts the narrative in the startup world, celebrating sustainable growth over mere valuation milestones.
Lessons for Entrepreneurs and Investors
The book is enriched with practical lessons and real-world anecdotes, making it a valuable resource for entrepreneurs, business leaders, and investors alike. Nath emphasizes the importance of financial discipline, customer-centric strategies, and adaptability core principles that set these earnicorns apart. By examining their successes and challenges, readers are encouraged to reflect on their own ventures and approach business with a sharper focus on long-term viability.
Accessible and Engaging Writing Style
One of the book’s greatest strengths is its accessibility. Nath’s conversational tone, infused with humor and personal reflections, breaks down complex business concepts into digestible insights. His storytelling style keeps readers engaged, while his use of relatable examples ensures that the lessons resonate with a broad audience, from aspiring entrepreneurs to seasoned professionals.
Final Thoughts
The Earnicorns is an inspiring celebration of entrepreneurship, resilience, and the pursuit of sustainable success. It offers actionable insights and thought-provoking perspectives that challenge conventional wisdom in the startup world. Whether you’re a founder, investor, or simply curious about what sets profitable businesses apart, this book provides a wealth of knowledge and inspiration.
Rating: 5/5
June 11, 2025
Unicorns is the fifth book by the author Dhurv Nath, and this was my first time reading his work and I am so glad I did. The book consist of a proper analysis of 4 major PROFIT making unicorns in the world of business, namely- Naukri.com, Zarodha, Dream11 and Zoho, I am sure you all have must heard the name of these companies ( If not, what rock are you living under? No offence, Just saying. Okay I think reading this book has made me a little sarcastic just live our author Dhruv Nath).
So, This book contains a proper analysis of the success and journey of these 4 major Unicorns or like the author likes to say EARNICORNS from the scratch, he picked these four earniorns because these were the four major companies that were actually making profit even after becoming a unicorn, The book starts with naukri.com , how Naukri.com came into existence and how it survived and thrived in the market, similarly he talkies about- zerodha, dream11 and zoho. Okay you must be wonderning “ Hey I have no idea about business, Stocks, hack I have no interest in non fiction, Should I read this book?” Well my friend I would not tell you what to do and what not to do but If you are even 1% interested in knowing what these companies did differently to stand out from the crowd and thrive, well than you should definitely read this book .
You know what I really loved about this book is the way the author narrated in the entire book, it felt like he was sitting right in front of me and telling me some fun stories about his friends (yeah that’s right this is what it felt like- a friend telling you good stories) and the added bonus to these stories was a lot and lot of knowledge, and that brings me to the second best thing about this book- The details, the author explained the topics which could be new to a reader in a very very simplified way, that you can’t help but keep reading.
The book was very well written and edited, which made the whole reading experience amazing, I would highly recommend this book to everyone who are seeking knowledge, who are seeking the secret to success of these four companies, go pick up this book and you’ll know.
So, This book contains a proper analysis of the success and journey of these 4 major Unicorns or like the author likes to say EARNICORNS from the scratch, he picked these four earniorns because these were the four major companies that were actually making profit even after becoming a unicorn, The book starts with naukri.com , how Naukri.com came into existence and how it survived and thrived in the market, similarly he talkies about- zerodha, dream11 and zoho. Okay you must be wonderning “ Hey I have no idea about business, Stocks, hack I have no interest in non fiction, Should I read this book?” Well my friend I would not tell you what to do and what not to do but If you are even 1% interested in knowing what these companies did differently to stand out from the crowd and thrive, well than you should definitely read this book .
You know what I really loved about this book is the way the author narrated in the entire book, it felt like he was sitting right in front of me and telling me some fun stories about his friends (yeah that’s right this is what it felt like- a friend telling you good stories) and the added bonus to these stories was a lot and lot of knowledge, and that brings me to the second best thing about this book- The details, the author explained the topics which could be new to a reader in a very very simplified way, that you can’t help but keep reading.
The book was very well written and edited, which made the whole reading experience amazing, I would highly recommend this book to everyone who are seeking knowledge, who are seeking the secret to success of these four companies, go pick up this book and you’ll know.
June 17, 2025
I just finished reading "The Earnicorns: Stories of Rare Profitable Unicorns" by Dhruv Nath, and I have to say, it's a breath of fresh air. We hear so much about startups burning through cash and chasing growth at all costs, but this book completely flips that script.
Nath dives into the stories of four Indian tech companies – Naukri.com, Zerodha, Dream11, and Zoho – that aren't just massive (unicorns), but also make serious money. That's the "Earnicorn" part, and it's brilliant.
He breaks down how these companies, unlike many others, focused on profitability right from the start. Take Naukri.com, for instance. It didn't begin with a massive investment; it was built from humble beginnings, literally with second-hand equipment, and grew into a dominant force in online recruitment. Then there's Zerodha, which completely shook up the brokerage world by offering zero fees – a move that sounded crazy but worked because they focused on efficiency and scale.
The book also explores Dream11's journey in fantasy sports and Zoho's really unique approach of hiring and training talent from rural areas, which not only builds a strong workforce but also transforms communities. These aren't just corporate success stories; they're tales of grit, smart thinking, and sometimes, outright defiance of conventional wisdom.
What I really appreciated is that Nath, being an academic and an investor himself, doesn't just tell you what happened, but why these companies succeeded. He pulls out key lessons about leadership, business models, and even company culture. It's clear that these founders weren't just chasing valuations; they were building sustainable, valuable businesses.
My Takeaway
Honestly, if you're an aspiring entrepreneur, or even just someone curious about how truly successful businesses are built, you've got to pick this one up. It's a fantastic reminder that while growth is good, profitability is king for long-term survival. You'll learn that being smart with resources, focusing on your customers, and having a clear vision can get you a lot further than just throwing money at a problem. It's an inspiring read that proves you don't always have to play by the "Silicon Valley rules" to win big.
Nath dives into the stories of four Indian tech companies – Naukri.com, Zerodha, Dream11, and Zoho – that aren't just massive (unicorns), but also make serious money. That's the "Earnicorn" part, and it's brilliant.
He breaks down how these companies, unlike many others, focused on profitability right from the start. Take Naukri.com, for instance. It didn't begin with a massive investment; it was built from humble beginnings, literally with second-hand equipment, and grew into a dominant force in online recruitment. Then there's Zerodha, which completely shook up the brokerage world by offering zero fees – a move that sounded crazy but worked because they focused on efficiency and scale.
The book also explores Dream11's journey in fantasy sports and Zoho's really unique approach of hiring and training talent from rural areas, which not only builds a strong workforce but also transforms communities. These aren't just corporate success stories; they're tales of grit, smart thinking, and sometimes, outright defiance of conventional wisdom.
What I really appreciated is that Nath, being an academic and an investor himself, doesn't just tell you what happened, but why these companies succeeded. He pulls out key lessons about leadership, business models, and even company culture. It's clear that these founders weren't just chasing valuations; they were building sustainable, valuable businesses.
My Takeaway
Honestly, if you're an aspiring entrepreneur, or even just someone curious about how truly successful businesses are built, you've got to pick this one up. It's a fantastic reminder that while growth is good, profitability is king for long-term survival. You'll learn that being smart with resources, focusing on your customers, and having a clear vision can get you a lot further than just throwing money at a problem. It's an inspiring read that proves you don't always have to play by the "Silicon Valley rules" to win big.
June 20, 2025
Earnicorns by Prof. Dhruv Nath is not just a collection of stories about famous unicorn brands. It's a book that has the power to change your mindset about unicorns and can give you a clear, impactful, logical analysis of the startup community, the ecosystem of business foundation or startups. Reading startup stories or business-related books is not my cup of tea. Yet, I picked it up a few days ago, and now, after finishing it, I can definitely say this book has changed my mind. I loved reading it. Author Dhruv Nath used his knowledge, incredible descriptions, logical analysis, and of course, his sense of humour. All these have made this book an impactful read.
"Earnicorns" doesn't tell only success stories, but it narrates the stories of the unicorns' baby steps to today's ultimate success. In this book, the author has described four leading unicorns' stories — Naukri.com, Zerodha, Zoho, and Dream11. These four are not just unicorns but profitably earning ones. In this time of loss-making startups, these four are successfully earning profits. This book shares the secrets, logic, and methods behind their success.
Before reading this book, I had only heard the names of these big brands but had never studied them deeply. After reading this book, I feel truly satisfied and content, knowing their stories from the early stage. The humble, hardworking founders have made their brands unicorns, and their stories are really inspiring. From every founder, there are definitely many things to learn, and author Dhruv Nath has brought out that very essence.
I love the way he described the unicorn journeys and the detailed, logical analysis of each of these four startups. This book is really like the key to knowing their secret of ruling the unicorn market. I really like the author's coined term "Earnicorns" (unicorns who are earning)... Interesting, right? In this book, there are more interesting terms. I want to mention one more thing—the author's idea of 'Persistent' and 'Perfect' attitudes that make our leading unicorns today's earnicorns. I would suggest reading this book to know more about it.
This is a really engaging read .
"Earnicorns" doesn't tell only success stories, but it narrates the stories of the unicorns' baby steps to today's ultimate success. In this book, the author has described four leading unicorns' stories — Naukri.com, Zerodha, Zoho, and Dream11. These four are not just unicorns but profitably earning ones. In this time of loss-making startups, these four are successfully earning profits. This book shares the secrets, logic, and methods behind their success.
Before reading this book, I had only heard the names of these big brands but had never studied them deeply. After reading this book, I feel truly satisfied and content, knowing their stories from the early stage. The humble, hardworking founders have made their brands unicorns, and their stories are really inspiring. From every founder, there are definitely many things to learn, and author Dhruv Nath has brought out that very essence.
I love the way he described the unicorn journeys and the detailed, logical analysis of each of these four startups. This book is really like the key to knowing their secret of ruling the unicorn market. I really like the author's coined term "Earnicorns" (unicorns who are earning)... Interesting, right? In this book, there are more interesting terms. I want to mention one more thing—the author's idea of 'Persistent' and 'Perfect' attitudes that make our leading unicorns today's earnicorns. I would suggest reading this book to know more about it.
This is a really engaging read .
July 17, 2024
"The Earnicorns" by Dhruv Nath is a thought-provoking exploration of four Indian startups that have achieved unicorn status while maintaining profitability. This book stands out in the crowded startup literature for its focus on financially sustainable business models, making it a must-read for aspiring entrepreneurs and business enthusiasts. The book provides actionable lessons and diverse perspectives on financing and growth, making it a practical guide for aspiring entrepreneurs. The book discusses below mentioned Unicorns-
Naukri.com: Sanjeev Bikhchandani’s journey from modest beginnings to dominating India’s white-collar job market teaches the importance of perseverance and resourcefulness. Starting in his father’s servant quarters with second-hand equipment, Bikhchandani’s story emphasizes that a humble start can lead to significant success.
Zerodha: Nithin Kamath’s approach of charging zero brokerage fees while becoming the world’s largest brokerage by trading volumes highlights the power of innovative business models. Kamath’s success without spending on marketing underscores the importance of value-driven growth.
Dream11: Harsh Jain’s creation of a leading fantasy sports platform in an unconventional work environment, complete with a football field office, showcases the impact of fostering a unique corporate culture. Jain’s story emphasizes that maintaining a fun and engaging workplace can drive business success.
Zoho: Sridhar Vembu’s efforts in transforming rural Tamil Nadu by hiring and training local talent illustrate the potential of social entrepreneurship. Vembu’s focus on rural employment and frugality teaches that impactful business practices can lead to both community and corporate growth.
"The Earnicorns" offers valuable insights into building sustainable, profitable startups but may feel repetitive and lacks detailed financial analysis. It's best suited for those with a keen interest in business strategies, providing practical guidance and challenging the notion that profitability and hypergrowth are mutually exclusive.
Naukri.com: Sanjeev Bikhchandani’s journey from modest beginnings to dominating India’s white-collar job market teaches the importance of perseverance and resourcefulness. Starting in his father’s servant quarters with second-hand equipment, Bikhchandani’s story emphasizes that a humble start can lead to significant success.
Zerodha: Nithin Kamath’s approach of charging zero brokerage fees while becoming the world’s largest brokerage by trading volumes highlights the power of innovative business models. Kamath’s success without spending on marketing underscores the importance of value-driven growth.
Dream11: Harsh Jain’s creation of a leading fantasy sports platform in an unconventional work environment, complete with a football field office, showcases the impact of fostering a unique corporate culture. Jain’s story emphasizes that maintaining a fun and engaging workplace can drive business success.
Zoho: Sridhar Vembu’s efforts in transforming rural Tamil Nadu by hiring and training local talent illustrate the potential of social entrepreneurship. Vembu’s focus on rural employment and frugality teaches that impactful business practices can lead to both community and corporate growth.
"The Earnicorns" offers valuable insights into building sustainable, profitable startups but may feel repetitive and lacks detailed financial analysis. It's best suited for those with a keen interest in business strategies, providing practical guidance and challenging the notion that profitability and hypergrowth are mutually exclusive.
August 1, 2024
🥏The author takes readers on an enlightening journey through the vibrant landscape of India's startup ecosystem, focusing on four standout companies : Zerodha, Naukri.com, Zoho, Dream 11 that have not only disrupted their respective industries but have also redefined the notion of entrepreneurship in a rapidly changing economy. This book is a compelling blend of storytelling, analysis, and insight that captures the essence of innovation and resilience in the heart of India.
🥏The book is structured around four key startups—each representing a unique sector and approach to business. Through meticulous research and engaging narrative, author delves into the origins, challenges, and triumphs of these companies.
🥏One of the standout features of this book is its ability to humanize the entrepreneurial journey. Readers are introduced to the founders, their motivations, and the personal stories that fueled their ambitions. It effectively weaves in anecdotes that highlight not only the strategic decisions made by these entrepreneurs but also their struggles with failure and uncertainty. This adds a layer of authenticity that resonates with aspiring entrepreneurs.
🥏Moreover, "the book does an excellent job of contextualizing the broader economic and social factors that have contributed to the rise of these startups. This macro perspective enriches the reader's understanding of why these startups succeeded where others may have faltered.
🥏The writing style is accessible yet insightful, making complex concepts easy to grasp for readers from various backgrounds. However, while the book celebrates the successes of these startups, it also addresses the challenges they faced. This balanced approach adds depth to the narrative and serves as a reminder that prosperity is often built on a foundation of perseverance and hard work. It is a must-read for anyone interested in the dynamics of entrepreneurship in India.
#booktrends
🥏The book is structured around four key startups—each representing a unique sector and approach to business. Through meticulous research and engaging narrative, author delves into the origins, challenges, and triumphs of these companies.
🥏One of the standout features of this book is its ability to humanize the entrepreneurial journey. Readers are introduced to the founders, their motivations, and the personal stories that fueled their ambitions. It effectively weaves in anecdotes that highlight not only the strategic decisions made by these entrepreneurs but also their struggles with failure and uncertainty. This adds a layer of authenticity that resonates with aspiring entrepreneurs.
🥏Moreover, "the book does an excellent job of contextualizing the broader economic and social factors that have contributed to the rise of these startups. This macro perspective enriches the reader's understanding of why these startups succeeded where others may have faltered.
🥏The writing style is accessible yet insightful, making complex concepts easy to grasp for readers from various backgrounds. However, while the book celebrates the successes of these startups, it also addresses the challenges they faced. This balanced approach adds depth to the narrative and serves as a reminder that prosperity is often built on a foundation of perseverance and hard work. It is a must-read for anyone interested in the dynamics of entrepreneurship in India.
#booktrends
March 6, 2025
"The Earnicorns: Stories of Rare Profitable Unicorns" by Dhruv Nath is an insightful and thought-provoking read that left a lasting impression on me. As I delved into the stories of India's rare profitable unicorns, I was not only fascinated by the financial success of these companies but also deeply moved by the resilience and strategic acumen of the founders.
One aspect of the book that particularly stood out to me was the balanced narrative. Nath did not merely present success stories but also delved into the challenges, setbacks, and critical decisions that shaped these companies' trajectories. It felt as if I were on a journey alongside these entrepreneurs, witnessing firsthand the highs and lows of building a sustainable business.
The book's structure, with each chapter focusing on a different 'Earnicorn,' made it easy to digest and kept me engaged throughout. The diversity of industries covered—from tech to consumer goods—provided a holistic view of India's evolving startup ecosystem. I found myself pausing after certain chapters, reflecting on the lessons and drawing parallels to broader business principles.
One of my favorite chapters was the one on Zerodha. The story of how Nithin Kamath built a bootstrapped, profitable enterprise in an industry dominated by heavyweights was truly inspiring. The emphasis on customer-centric innovation and financial prudence was a refreshing change from the typical 'growth at all costs' narrative that dominates startup literature.
Overall, "The Earnicorns" is more than just a compilation of success stories. It is a testament to the power of sustainable business practices and the importance of long-term vision. I would highly recommend this book to aspiring entrepreneurs, business enthusiasts, and anyone interested in understanding the essence of building a profitable and impactful company in today's fast-paced world.
One aspect of the book that particularly stood out to me was the balanced narrative. Nath did not merely present success stories but also delved into the challenges, setbacks, and critical decisions that shaped these companies' trajectories. It felt as if I were on a journey alongside these entrepreneurs, witnessing firsthand the highs and lows of building a sustainable business.
The book's structure, with each chapter focusing on a different 'Earnicorn,' made it easy to digest and kept me engaged throughout. The diversity of industries covered—from tech to consumer goods—provided a holistic view of India's evolving startup ecosystem. I found myself pausing after certain chapters, reflecting on the lessons and drawing parallels to broader business principles.
One of my favorite chapters was the one on Zerodha. The story of how Nithin Kamath built a bootstrapped, profitable enterprise in an industry dominated by heavyweights was truly inspiring. The emphasis on customer-centric innovation and financial prudence was a refreshing change from the typical 'growth at all costs' narrative that dominates startup literature.
Overall, "The Earnicorns" is more than just a compilation of success stories. It is a testament to the power of sustainable business practices and the importance of long-term vision. I would highly recommend this book to aspiring entrepreneurs, business enthusiasts, and anyone interested in understanding the essence of building a profitable and impactful company in today's fast-paced world.
June 20, 2025
Book Review | The Earnicorns by Dhruv Nath
Publisher: Penguin Random House India
Genre: Business | Startups | Entrepreneurship
Rating: 4/5
“This is business, not charity.”
With this powerful opening, Dhruv Nath sets the tone for The Earnicorns, a refreshing and insightful take on how some startups choose profit over hype—and win. The book features four successful Indian tech companies—Naukri.com, Zerodha, Dream11, and Zoho—that have achieved unicorn status while remaining profitable. Nath calls them Earnicorns, and for good reason.
What makes this book stand out is its clarity and relevance. Nath explores each company’s journey in depth—from Naukri.com’s humble beginnings with second-hand equipment to Zerodha’s bold zero-fee model, from Dream11’s rise in fantasy gaming to Zoho’s remarkable rural hiring initiative. Each chapter not only tells a compelling story but also explains why these companies succeeded where many others failed.
The author emphasizes two core traits shared by all four founders: Persistence and the Perfect Attitude. These principles, along with smart resource use and a customer-first mindset, set the foundation for long-term success. Nath also breaks the stereotype that one needs a powerful surname or massive funding to build a business empire.
Writing Style:
Nath’s writing is conversational, clear, and often witty. Complex ideas are explained with ease, making the book engaging for readers of all backgrounds.
Key Takeaways:
Profitability must be a core goal—not just growth.
Efficient resource use is more valuable than excess capital.
Ethics, customer focus, and lean models drive real success.
You don’t need to follow startup clichés to build a legacy.
Sustainable and purpose-led businesses create lasting impact.
"A must-read for entrepreneurs, startup founders, and anyone serious about building a profitable, purpose-driven business."
Publisher: Penguin Random House India
Genre: Business | Startups | Entrepreneurship
Rating: 4/5
“This is business, not charity.”
With this powerful opening, Dhruv Nath sets the tone for The Earnicorns, a refreshing and insightful take on how some startups choose profit over hype—and win. The book features four successful Indian tech companies—Naukri.com, Zerodha, Dream11, and Zoho—that have achieved unicorn status while remaining profitable. Nath calls them Earnicorns, and for good reason.
What makes this book stand out is its clarity and relevance. Nath explores each company’s journey in depth—from Naukri.com’s humble beginnings with second-hand equipment to Zerodha’s bold zero-fee model, from Dream11’s rise in fantasy gaming to Zoho’s remarkable rural hiring initiative. Each chapter not only tells a compelling story but also explains why these companies succeeded where many others failed.
The author emphasizes two core traits shared by all four founders: Persistence and the Perfect Attitude. These principles, along with smart resource use and a customer-first mindset, set the foundation for long-term success. Nath also breaks the stereotype that one needs a powerful surname or massive funding to build a business empire.
Writing Style:
Nath’s writing is conversational, clear, and often witty. Complex ideas are explained with ease, making the book engaging for readers of all backgrounds.
Key Takeaways:
Profitability must be a core goal—not just growth.
Efficient resource use is more valuable than excess capital.
Ethics, customer focus, and lean models drive real success.
You don’t need to follow startup clichés to build a legacy.
Sustainable and purpose-led businesses create lasting impact.
"A must-read for entrepreneurs, startup founders, and anyone serious about building a profitable, purpose-driven business."
September 29, 2024
Earnicorns took us to the journey of Entrepreneurs who became profitable and came to market for the betterment.
From online job-seekers, fantasy sports, security software, and No brokerage from investors they start fresh and adjust for the market, then diversity to other sisters firms and ideas.
These are stories about phenomenal companies and their equally phenomenal founders.Sanjeev Bikhchandani, who started Naukri.com from the servant’s quarters above his father’s garage, using second-hand computers and furniture. And subsequently, grew the business to a point where they have an unbelievable 70 per cent share of the market for white-collar jobs. They work in the environment and make a work place a happening place for working people and respect their subordinate.
Nithin Kamath, the outstandingly humble founder of Zerodha, who shocked the nation by charging absolutely no brokerage from investors, in biggest market of wolfs and make it profitable and work for people and customer favours although they have competition now but still they have base and basics they grow from and that's matter more.
How Zoho transformed rural Tamil Nadu, by recruiting young boys and girls who could not afford to go to a decent college. And nurturing them into becoming star programmers. They operate from the one the smallest of Chennai and the owner does take breaks and work with children and farming in the village in free time.
Harsh Jain of Dream11, who built a roaring fantasy sports platform when everyone advised him not to, he wanted to let people interested in sports so that they don't lose interest in the game just after their team doesn't perform well.
The common is that all are humble and leaders who take actions that prove to be changed in the culture of the workplace and build an environment for budding entrepreneurs.
From online job-seekers, fantasy sports, security software, and No brokerage from investors they start fresh and adjust for the market, then diversity to other sisters firms and ideas.
These are stories about phenomenal companies and their equally phenomenal founders.Sanjeev Bikhchandani, who started Naukri.com from the servant’s quarters above his father’s garage, using second-hand computers and furniture. And subsequently, grew the business to a point where they have an unbelievable 70 per cent share of the market for white-collar jobs. They work in the environment and make a work place a happening place for working people and respect their subordinate.
Nithin Kamath, the outstandingly humble founder of Zerodha, who shocked the nation by charging absolutely no brokerage from investors, in biggest market of wolfs and make it profitable and work for people and customer favours although they have competition now but still they have base and basics they grow from and that's matter more.
How Zoho transformed rural Tamil Nadu, by recruiting young boys and girls who could not afford to go to a decent college. And nurturing them into becoming star programmers. They operate from the one the smallest of Chennai and the owner does take breaks and work with children and farming in the village in free time.
Harsh Jain of Dream11, who built a roaring fantasy sports platform when everyone advised him not to, he wanted to let people interested in sports so that they don't lose interest in the game just after their team doesn't perform well.
The common is that all are humble and leaders who take actions that prove to be changed in the culture of the workplace and build an environment for budding entrepreneurs.
January 6, 2025
📚 Book: The Earnicorns: Stories of Rare Profitable Unicorns: Naukri.com, Zerodha, Dream11, Zoho
🖋️ Author: Dhruv Nath
💼 A Celebration of Profitable Innovators
Dhruv Nath takes readers behind the scenes of four remarkable Indian Internet giants—Naukri.com, Zerodha, Dream11, and Zoho—in The Earnicorns, a fascinating exploration of how these companies achieved profitability in an industry often dominated by losses.
📖 The Stories
Naukri.com: Sanjeev Bikhchandani built a recruitment empire starting from the servant’s quarters of his father's garage. Today, Naukri.com dominates 70% of the white-collar job market.
Zerodha: Nithin Kamath disrupted the brokerage industry with his groundbreaking decision to eliminate brokerage fees for investors.
Zoho: From rural Tamil Nadu, Zoho nurtured local youth who couldn’t afford formal education, transforming them into star programmers and building a global software powerhouse.
Dream11: Harsh Jain defied skepticism to create a thriving fantasy sports platform, inspiring a generation of entrepreneurs.
💡 Themes
Resilience and Innovation: The founders’ incredible journeys highlight their determination to think differently.
Impact Beyond Profits: These companies didn’t just make money—they transformed lives and communities.
Disruptive Thinking: Lessons in challenging the status quo and creating game-changing business models.
🌟 Why You'll Love It
Inspirational Narratives: Perfect for entrepreneurs and dreamers.
Practical Insights: Learn what sets profitable companies apart from the rest.
Celebration of Indian Innovation: A tribute to pioneers reshaping the global Internet landscape.
📜 Conclusion
The Earnicorns is a must-read for anyone curious about the secrets behind profitable businesses in the Internet age. Dhruv Nath’s storytelling offers valuable lessons on innovation, resilience, and the power of bold ideas.
🖋️ Author: Dhruv Nath
💼 A Celebration of Profitable Innovators
Dhruv Nath takes readers behind the scenes of four remarkable Indian Internet giants—Naukri.com, Zerodha, Dream11, and Zoho—in The Earnicorns, a fascinating exploration of how these companies achieved profitability in an industry often dominated by losses.
📖 The Stories
Naukri.com: Sanjeev Bikhchandani built a recruitment empire starting from the servant’s quarters of his father's garage. Today, Naukri.com dominates 70% of the white-collar job market.
Zerodha: Nithin Kamath disrupted the brokerage industry with his groundbreaking decision to eliminate brokerage fees for investors.
Zoho: From rural Tamil Nadu, Zoho nurtured local youth who couldn’t afford formal education, transforming them into star programmers and building a global software powerhouse.
Dream11: Harsh Jain defied skepticism to create a thriving fantasy sports platform, inspiring a generation of entrepreneurs.
💡 Themes
Resilience and Innovation: The founders’ incredible journeys highlight their determination to think differently.
Impact Beyond Profits: These companies didn’t just make money—they transformed lives and communities.
Disruptive Thinking: Lessons in challenging the status quo and creating game-changing business models.
🌟 Why You'll Love It
Inspirational Narratives: Perfect for entrepreneurs and dreamers.
Practical Insights: Learn what sets profitable companies apart from the rest.
Celebration of Indian Innovation: A tribute to pioneers reshaping the global Internet landscape.
📜 Conclusion
The Earnicorns is a must-read for anyone curious about the secrets behind profitable businesses in the Internet age. Dhruv Nath’s storytelling offers valuable lessons on innovation, resilience, and the power of bold ideas.
January 10, 2025
𝘈 𝘊𝘦𝘭𝘦𝘣𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘗𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘭𝘦 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘰𝘳𝘴
𝘐𝘯 𝘛𝘩𝘦 𝘌𝘢𝘳𝘯𝘪𝘤𝘰𝘳𝘯𝘴, 𝘋𝘩𝘳𝘶𝘷 𝘕𝘢𝘵𝘩 𝘥𝘦𝘭𝘷𝘦𝘴 𝘪𝘯𝘵𝘰 𝘵𝘩𝘦 𝘴𝘶𝘤𝘤𝘦𝘴𝘴 𝘴𝘵𝘰𝘳𝘪𝘦𝘴 𝘰𝘧 𝘧𝘰𝘶𝘳 𝘦𝘹𝘵𝘳𝘢𝘰𝘳𝘥𝘪𝘯𝘢𝘳𝘺 𝘐𝘯𝘥𝘪𝘢𝘯 𝘐𝘯𝘵𝘦𝘳𝘯𝘦𝘵 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴—𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮, 𝘡𝘦𝘳𝘰𝘥𝘩𝘢, 𝘋𝘳𝘦𝘢𝘮11, 𝘢𝘯𝘥 𝘡𝘰𝘩𝘰. 𝘛𝘩𝘪𝘴 𝘤𝘰𝘮𝘱𝘦𝘭𝘭𝘪𝘯𝘨 𝘣𝘰𝘰𝘬 𝘦𝘹𝘢𝘮𝘪𝘯𝘦𝘴 𝘩𝘰𝘸 𝘵𝘩𝘦𝘴𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘢𝘤𝘩𝘪𝘦𝘷𝘦𝘥 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘪𝘯 𝘢𝘯 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘰𝘧𝘵𝘦𝘯 𝘤𝘩𝘢𝘳𝘢𝘤𝘵𝘦𝘳𝘪𝘻𝘦𝘥 𝘣𝘺 𝘴𝘪𝘨𝘯𝘪𝘧𝘪𝘤𝘢𝘯𝘵 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘭𝘰𝘴𝘴𝘦𝘴.
𝘛𝘩𝘦 𝘚𝘵𝘰𝘳𝘪𝘦𝘴 𝘉𝘦𝘩𝘪𝘯𝘥 𝘵𝘩𝘦 𝘚𝘶𝘤𝘤𝘦𝘴𝘴
• 𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮: 𝘚𝘢𝘯𝘫𝘦𝘦𝘷 𝘉𝘪𝘬𝘩𝘤𝘩𝘢𝘯𝘥𝘢𝘯𝘪 𝘣𝘶𝘪𝘭𝘵 𝘢 𝘳𝘦𝘤𝘳𝘶𝘪𝘵𝘮𝘦𝘯𝘵 𝘦𝘮𝘱𝘪𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘴𝘦𝘳𝘷𝘢𝘯𝘵’𝘴 𝘲𝘶𝘢𝘳𝘵𝘦𝘳𝘴 𝘰𝘧 𝘩𝘪𝘴 𝘧𝘢𝘵𝘩𝘦𝘳’𝘴 𝘨𝘢𝘳𝘢𝘨𝘦. 𝘛𝘰𝘥𝘢𝘺, 𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮 𝘤𝘰𝘮𝘮𝘢𝘯𝘥𝘴 70% 𝘰𝘧 𝘵𝘩𝘦 𝘸𝘩𝘪𝘵𝘦-𝘤𝘰𝘭𝘭𝘢𝘳 𝘫𝘰𝘣 𝘮𝘢𝘳𝘬𝘦𝘵.
• 𝘡𝘦𝘳𝘰𝘥𝘩𝘢: 𝘕𝘪𝘵𝘩𝘪𝘯 𝘒𝘢𝘮𝘢𝘵𝘩 𝘳𝘦𝘷𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘪𝘻𝘦𝘥 𝘵𝘩𝘦 𝘣𝘳𝘰𝘬𝘦𝘳𝘢𝘨𝘦 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘣𝘺 𝘦𝘭𝘪𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘧𝘦𝘦𝘴 𝘧𝘰𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴, 𝘧𝘶𝘯𝘥𝘢𝘮𝘦𝘯𝘵𝘢𝘭𝘭𝘺 𝘳𝘦𝘴𝘩𝘢𝘱𝘪𝘯𝘨 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵.
• 𝘡𝘰𝘩𝘰: 𝘌𝘮𝘦𝘳𝘨𝘪𝘯𝘨 𝘧𝘳𝘰𝘮 𝘳𝘶𝘳𝘢𝘭 𝘛𝘢𝘮𝘪𝘭 𝘕𝘢𝘥𝘶, 𝘡𝘰𝘩𝘰 𝘵𝘳𝘢𝘪𝘯𝘦𝘥 𝘭𝘰𝘤𝘢𝘭 𝘺𝘰𝘶𝘵𝘩 𝘸𝘩𝘰 𝘭𝘢𝘤𝘬𝘦𝘥 𝘢𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘧𝘰𝘳𝘮𝘢𝘭 𝘦𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯, 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘪𝘯𝘨 𝘵𝘩𝘦𝘮 𝘪𝘯𝘵𝘰 𝘵𝘰𝘱-𝘵𝘪𝘦𝘳 𝘱𝘳𝘰𝘨𝘳𝘢𝘮𝘮𝘦𝘳𝘴 𝘢𝘯𝘥 𝘤𝘳𝘦𝘢𝘵𝘪𝘯𝘨 𝘢 𝘨𝘭𝘰𝘣𝘢𝘭 𝘴𝘰𝘧𝘵𝘸𝘢𝘳𝘦 𝘭𝘦𝘢𝘥𝘦𝘳.
• 𝘋𝘳𝘦𝘢𝘮11: 𝘏𝘢𝘳𝘴𝘩 𝘑𝘢𝘪𝘯 𝘰𝘷𝘦𝘳𝘤𝘢𝘮𝘦 𝘴𝘬𝘦𝘱𝘵𝘪𝘤𝘪𝘴𝘮 𝘵𝘰 𝘦𝘴𝘵𝘢𝘣𝘭𝘪𝘴𝘩 𝘢 𝘵𝘩𝘳𝘪𝘷𝘪𝘯𝘨 𝘧𝘢𝘯𝘵𝘢𝘴𝘺 𝘴𝘱𝘰𝘳𝘵𝘴 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮, 𝘪𝘯𝘴𝘱𝘪𝘳𝘪𝘯𝘨 𝘢 𝘯𝘦𝘸 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴.
𝘒𝘦𝘺 𝘛𝘩𝘦𝘮𝘦𝘴
• 𝘙𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘤𝘦 𝘢𝘯𝘥 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯: 𝘈 𝘵𝘦𝘴𝘵𝘢𝘮𝘦𝘯𝘵 𝘵𝘰 𝘵𝘩𝘦 𝘧𝘰𝘶𝘯𝘥𝘦𝘳𝘴’ 𝘥𝘦𝘵𝘦𝘳𝘮𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘵𝘰 𝘵𝘩𝘪𝘯𝘬 𝘰𝘶𝘵𝘴𝘪𝘥𝘦 𝘵𝘩𝘦 𝘣𝘰𝘹.
• 𝘐𝘮𝘱𝘢𝘤𝘵 𝘉𝘦𝘺𝘰𝘯𝘥 𝘗𝘳𝘰𝘧𝘪𝘵𝘴: 𝘋𝘦𝘮𝘰𝘯𝘴𝘵𝘳𝘢𝘵𝘪𝘯𝘨 𝘩𝘰𝘸 𝘵𝘩𝘦𝘴𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘩𝘢𝘷𝘦 𝘱𝘰𝘴𝘪𝘵𝘪𝘷𝘦𝘭𝘺 𝘪𝘮𝘱𝘢𝘤𝘵𝘦𝘥 𝘭𝘪𝘷𝘦𝘴 𝘢𝘯𝘥 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘪𝘦𝘴.
• 𝘋𝘪𝘴𝘳𝘶𝘱𝘵𝘪𝘷𝘦 𝘛𝘩𝘪𝘯𝘬𝘪𝘯𝘨: 𝘓𝘦𝘴𝘴𝘰𝘯𝘴 𝘪𝘯 𝘤𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘪𝘯𝘨 𝘯𝘰𝘳𝘮𝘴 𝘢𝘯𝘥 𝘤𝘳𝘢𝘧𝘵𝘪𝘯𝘨 𝘨𝘳𝘰𝘶𝘯𝘥𝘣𝘳𝘦𝘢𝘬𝘪𝘯𝘨 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘮𝘰𝘥𝘦𝘭𝘴.
𝘞𝘩𝘺 𝘛𝘩𝘪𝘴 𝘉𝘰𝘰𝘬 𝘚𝘵𝘢𝘯𝘥𝘴 𝘖𝘶𝘵
• 𝘐𝘯𝘴𝘱𝘪𝘳𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘕𝘢𝘳𝘳𝘢𝘵𝘪𝘷𝘦𝘴: 𝘐𝘥𝘦𝘢𝘭 𝘧𝘰𝘳 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴 𝘢𝘯𝘥 𝘷𝘪𝘴𝘪𝘰𝘯𝘢𝘳𝘪𝘦𝘴.
• 𝘗𝘳𝘢𝘤𝘵𝘪𝘤𝘢𝘭 𝘐𝘯𝘴𝘪𝘨𝘩𝘵𝘴: 𝘖𝘧𝘧𝘦𝘳𝘴 𝘷𝘢𝘭𝘶𝘢𝘣𝘭𝘦 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘦𝘴 𝘧𝘰𝘳 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘭𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴.
• 𝘊𝘦𝘭𝘦𝘣𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘐𝘯𝘥𝘪𝘢𝘯 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯: 𝘏𝘪𝘨𝘩𝘭𝘪𝘨𝘩𝘵𝘴 𝘵𝘩𝘦 𝘨𝘭𝘰𝘣𝘢𝘭 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘧 𝘐𝘯𝘥𝘪𝘢𝘯 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴.
𝘊𝘰𝘯𝘤𝘭𝘶𝘴𝘪𝘰𝘯
𝘛𝘩𝘦 𝘌𝘢𝘳𝘯𝘪𝘤𝘰𝘳𝘯𝘴 𝘪𝘴 𝘢𝘯 𝘦𝘴𝘴𝘦𝘯𝘵𝘪𝘢𝘭 𝘳𝘦𝘢𝘥 𝘧𝘰𝘳 𝘢𝘯𝘺𝘰𝘯𝘦 𝘤𝘶𝘳𝘪𝘰𝘶𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘱𝘳𝘪𝘯𝘤𝘪𝘱𝘭𝘦𝘴 𝘰𝘧 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘴𝘶𝘤𝘤𝘦𝘴𝘴𝘧𝘶𝘭, 𝘴𝘶𝘴𝘵𝘢𝘪𝘯𝘢𝘣𝘭𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘨𝘦. 𝘋𝘩𝘳𝘶𝘷 𝘕𝘢𝘵𝘩’𝘴 𝘤𝘢𝘱𝘵𝘪𝘷𝘢𝘵𝘪𝘯𝘨 𝘴𝘵𝘰𝘳𝘺𝘵𝘦𝘭𝘭𝘪𝘯𝘨 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘴 𝘱𝘳𝘰𝘧𝘰𝘶𝘯𝘥 𝘭𝘦𝘴𝘴𝘰𝘯𝘴 𝘰𝘯 𝘳𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘤𝘦, 𝘪𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯, 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘷𝘦 𝘱𝘰𝘸𝘦𝘳 𝘰𝘧 𝘣𝘰𝘭𝘥 𝘪𝘥𝘦𝘢𝘴.
𝘐𝘯 𝘛𝘩𝘦 𝘌𝘢𝘳𝘯𝘪𝘤𝘰𝘳𝘯𝘴, 𝘋𝘩𝘳𝘶𝘷 𝘕𝘢𝘵𝘩 𝘥𝘦𝘭𝘷𝘦𝘴 𝘪𝘯𝘵𝘰 𝘵𝘩𝘦 𝘴𝘶𝘤𝘤𝘦𝘴𝘴 𝘴𝘵𝘰𝘳𝘪𝘦𝘴 𝘰𝘧 𝘧𝘰𝘶𝘳 𝘦𝘹𝘵𝘳𝘢𝘰𝘳𝘥𝘪𝘯𝘢𝘳𝘺 𝘐𝘯𝘥𝘪𝘢𝘯 𝘐𝘯𝘵𝘦𝘳𝘯𝘦𝘵 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴—𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮, 𝘡𝘦𝘳𝘰𝘥𝘩𝘢, 𝘋𝘳𝘦𝘢𝘮11, 𝘢𝘯𝘥 𝘡𝘰𝘩𝘰. 𝘛𝘩𝘪𝘴 𝘤𝘰𝘮𝘱𝘦𝘭𝘭𝘪𝘯𝘨 𝘣𝘰𝘰𝘬 𝘦𝘹𝘢𝘮𝘪𝘯𝘦𝘴 𝘩𝘰𝘸 𝘵𝘩𝘦𝘴𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘢𝘤𝘩𝘪𝘦𝘷𝘦𝘥 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘪𝘯 𝘢𝘯 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘰𝘧𝘵𝘦𝘯 𝘤𝘩𝘢𝘳𝘢𝘤𝘵𝘦𝘳𝘪𝘻𝘦𝘥 𝘣𝘺 𝘴𝘪𝘨𝘯𝘪𝘧𝘪𝘤𝘢𝘯𝘵 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘭𝘰𝘴𝘴𝘦𝘴.
𝘛𝘩𝘦 𝘚𝘵𝘰𝘳𝘪𝘦𝘴 𝘉𝘦𝘩𝘪𝘯𝘥 𝘵𝘩𝘦 𝘚𝘶𝘤𝘤𝘦𝘴𝘴
• 𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮: 𝘚𝘢𝘯𝘫𝘦𝘦𝘷 𝘉𝘪𝘬𝘩𝘤𝘩𝘢𝘯𝘥𝘢𝘯𝘪 𝘣𝘶𝘪𝘭𝘵 𝘢 𝘳𝘦𝘤𝘳𝘶𝘪𝘵𝘮𝘦𝘯𝘵 𝘦𝘮𝘱𝘪𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘴𝘦𝘳𝘷𝘢𝘯𝘵’𝘴 𝘲𝘶𝘢𝘳𝘵𝘦𝘳𝘴 𝘰𝘧 𝘩𝘪𝘴 𝘧𝘢𝘵𝘩𝘦𝘳’𝘴 𝘨𝘢𝘳𝘢𝘨𝘦. 𝘛𝘰𝘥𝘢𝘺, 𝘕𝘢𝘶𝘬𝘳𝘪.𝘤𝘰𝘮 𝘤𝘰𝘮𝘮𝘢𝘯𝘥𝘴 70% 𝘰𝘧 𝘵𝘩𝘦 𝘸𝘩𝘪𝘵𝘦-𝘤𝘰𝘭𝘭𝘢𝘳 𝘫𝘰𝘣 𝘮𝘢𝘳𝘬𝘦𝘵.
• 𝘡𝘦𝘳𝘰𝘥𝘩𝘢: 𝘕𝘪𝘵𝘩𝘪𝘯 𝘒𝘢𝘮𝘢𝘵𝘩 𝘳𝘦𝘷𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘪𝘻𝘦𝘥 𝘵𝘩𝘦 𝘣𝘳𝘰𝘬𝘦𝘳𝘢𝘨𝘦 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘣𝘺 𝘦𝘭𝘪𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘧𝘦𝘦𝘴 𝘧𝘰𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴, 𝘧𝘶𝘯𝘥𝘢𝘮𝘦𝘯𝘵𝘢𝘭𝘭𝘺 𝘳𝘦𝘴𝘩𝘢𝘱𝘪𝘯𝘨 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵.
• 𝘡𝘰𝘩𝘰: 𝘌𝘮𝘦𝘳𝘨𝘪𝘯𝘨 𝘧𝘳𝘰𝘮 𝘳𝘶𝘳𝘢𝘭 𝘛𝘢𝘮𝘪𝘭 𝘕𝘢𝘥𝘶, 𝘡𝘰𝘩𝘰 𝘵𝘳𝘢𝘪𝘯𝘦𝘥 𝘭𝘰𝘤𝘢𝘭 𝘺𝘰𝘶𝘵𝘩 𝘸𝘩𝘰 𝘭𝘢𝘤𝘬𝘦𝘥 𝘢𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘧𝘰𝘳𝘮𝘢𝘭 𝘦𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯, 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘪𝘯𝘨 𝘵𝘩𝘦𝘮 𝘪𝘯𝘵𝘰 𝘵𝘰𝘱-𝘵𝘪𝘦𝘳 𝘱𝘳𝘰𝘨𝘳𝘢𝘮𝘮𝘦𝘳𝘴 𝘢𝘯𝘥 𝘤𝘳𝘦𝘢𝘵𝘪𝘯𝘨 𝘢 𝘨𝘭𝘰𝘣𝘢𝘭 𝘴𝘰𝘧𝘵𝘸𝘢𝘳𝘦 𝘭𝘦𝘢𝘥𝘦𝘳.
• 𝘋𝘳𝘦𝘢𝘮11: 𝘏𝘢𝘳𝘴𝘩 𝘑𝘢𝘪𝘯 𝘰𝘷𝘦𝘳𝘤𝘢𝘮𝘦 𝘴𝘬𝘦𝘱𝘵𝘪𝘤𝘪𝘴𝘮 𝘵𝘰 𝘦𝘴𝘵𝘢𝘣𝘭𝘪𝘴𝘩 𝘢 𝘵𝘩𝘳𝘪𝘷𝘪𝘯𝘨 𝘧𝘢𝘯𝘵𝘢𝘴𝘺 𝘴𝘱𝘰𝘳𝘵𝘴 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮, 𝘪𝘯𝘴𝘱𝘪𝘳𝘪𝘯𝘨 𝘢 𝘯𝘦𝘸 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴.
𝘒𝘦𝘺 𝘛𝘩𝘦𝘮𝘦𝘴
• 𝘙𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘤𝘦 𝘢𝘯𝘥 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯: 𝘈 𝘵𝘦𝘴𝘵𝘢𝘮𝘦𝘯𝘵 𝘵𝘰 𝘵𝘩𝘦 𝘧𝘰𝘶𝘯𝘥𝘦𝘳𝘴’ 𝘥𝘦𝘵𝘦𝘳𝘮𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘵𝘰 𝘵𝘩𝘪𝘯𝘬 𝘰𝘶𝘵𝘴𝘪𝘥𝘦 𝘵𝘩𝘦 𝘣𝘰𝘹.
• 𝘐𝘮𝘱𝘢𝘤𝘵 𝘉𝘦𝘺𝘰𝘯𝘥 𝘗𝘳𝘰𝘧𝘪𝘵𝘴: 𝘋𝘦𝘮𝘰𝘯𝘴𝘵𝘳𝘢𝘵𝘪𝘯𝘨 𝘩𝘰𝘸 𝘵𝘩𝘦𝘴𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘩𝘢𝘷𝘦 𝘱𝘰𝘴𝘪𝘵𝘪𝘷𝘦𝘭𝘺 𝘪𝘮𝘱𝘢𝘤𝘵𝘦𝘥 𝘭𝘪𝘷𝘦𝘴 𝘢𝘯𝘥 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘪𝘦𝘴.
• 𝘋𝘪𝘴𝘳𝘶𝘱𝘵𝘪𝘷𝘦 𝘛𝘩𝘪𝘯𝘬𝘪𝘯𝘨: 𝘓𝘦𝘴𝘴𝘰𝘯𝘴 𝘪𝘯 𝘤𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘪𝘯𝘨 𝘯𝘰𝘳𝘮𝘴 𝘢𝘯𝘥 𝘤𝘳𝘢𝘧𝘵𝘪𝘯𝘨 𝘨𝘳𝘰𝘶𝘯𝘥𝘣𝘳𝘦𝘢𝘬𝘪𝘯𝘨 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘮𝘰𝘥𝘦𝘭𝘴.
𝘞𝘩𝘺 𝘛𝘩𝘪𝘴 𝘉𝘰𝘰𝘬 𝘚𝘵𝘢𝘯𝘥𝘴 𝘖𝘶𝘵
• 𝘐𝘯𝘴𝘱𝘪𝘳𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘕𝘢𝘳𝘳𝘢𝘵𝘪𝘷𝘦𝘴: 𝘐𝘥𝘦𝘢𝘭 𝘧𝘰𝘳 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴 𝘢𝘯𝘥 𝘷𝘪𝘴𝘪𝘰𝘯𝘢𝘳𝘪𝘦𝘴.
• 𝘗𝘳𝘢𝘤𝘵𝘪𝘤𝘢𝘭 𝘐𝘯𝘴𝘪𝘨𝘩𝘵𝘴: 𝘖𝘧𝘧𝘦𝘳𝘴 𝘷𝘢𝘭𝘶𝘢𝘣𝘭𝘦 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘦𝘴 𝘧𝘰𝘳 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘭𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴.
• 𝘊𝘦𝘭𝘦𝘣𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘐𝘯𝘥𝘪𝘢𝘯 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯: 𝘏𝘪𝘨𝘩𝘭𝘪𝘨𝘩𝘵𝘴 𝘵𝘩𝘦 𝘨𝘭𝘰𝘣𝘢𝘭 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘧 𝘐𝘯𝘥𝘪𝘢𝘯 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴.
𝘊𝘰𝘯𝘤𝘭𝘶𝘴𝘪𝘰𝘯
𝘛𝘩𝘦 𝘌𝘢𝘳𝘯𝘪𝘤𝘰𝘳𝘯𝘴 𝘪𝘴 𝘢𝘯 𝘦𝘴𝘴𝘦𝘯𝘵𝘪𝘢𝘭 𝘳𝘦𝘢𝘥 𝘧𝘰𝘳 𝘢𝘯𝘺𝘰𝘯𝘦 𝘤𝘶𝘳𝘪𝘰𝘶𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘱𝘳𝘪𝘯𝘤𝘪𝘱𝘭𝘦𝘴 𝘰𝘧 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘴𝘶𝘤𝘤𝘦𝘴𝘴𝘧𝘶𝘭, 𝘴𝘶𝘴𝘵𝘢𝘪𝘯𝘢𝘣𝘭𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘨𝘦. 𝘋𝘩𝘳𝘶𝘷 𝘕𝘢𝘵𝘩’𝘴 𝘤𝘢𝘱𝘵𝘪𝘷𝘢𝘵𝘪𝘯𝘨 𝘴𝘵𝘰𝘳𝘺𝘵𝘦𝘭𝘭𝘪𝘯𝘨 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘴 𝘱𝘳𝘰𝘧𝘰𝘶𝘯𝘥 𝘭𝘦𝘴𝘴𝘰𝘯𝘴 𝘰𝘯 𝘳𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘤𝘦, 𝘪𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯, 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘷𝘦 𝘱𝘰𝘸𝘦𝘳 𝘰𝘧 𝘣𝘰𝘭𝘥 𝘪𝘥𝘦𝘢𝘴.
June 18, 2025
Though I’m not much into technology and business, mentioning these phenomenal companies has prompted me to pick this up. And guess what? I’m neck deep engrossed in it. Although we hear success stories of many startups that have now become giants in the corporate world, we barely know how it all started from the roots with their approach towards the market and their strategies.
Dhruv Nath shares with us how Naukari.com, Zerodha, Dream 11 and Zoho tailored their way into becoming the top leading companies in the country. With his humour-filled and compelling narration that glues the readers, he gives a clear view of how these companies started from scratch to build an empire that is now revered by everyone. Right from giving us a vivid idea of each business in layman’s terms to all the ups and downs they have experienced to date besides their flourishing period, the author has done a commendable job in enlightening the reader from A to Z regarding their work.
Each founder has a unique concoction for their success stories even after having their share of troughs. One thing that I highly admire in these founders is their humility, progressive actions and work culture. And I also ended up searching their websites for job roles that might suit me. When your employees and customers are happy, your business will prevail. I can’t just highlight one company more because all of them are equally outstanding with their principles.
This book would also leave us introspecting while prodding us to do something purposeful. The belief and perseverance that all the founders have, astonished me and just made me realise that passion must burn you in and out till you achieve what you envisioned. I highly recommend this book to everyone who has an enterprising and innovative mindset. But also, I’m sure that this book nudges you to step out of your comfort zone too.
Dhruv Nath shares with us how Naukari.com, Zerodha, Dream 11 and Zoho tailored their way into becoming the top leading companies in the country. With his humour-filled and compelling narration that glues the readers, he gives a clear view of how these companies started from scratch to build an empire that is now revered by everyone. Right from giving us a vivid idea of each business in layman’s terms to all the ups and downs they have experienced to date besides their flourishing period, the author has done a commendable job in enlightening the reader from A to Z regarding their work.
Each founder has a unique concoction for their success stories even after having their share of troughs. One thing that I highly admire in these founders is their humility, progressive actions and work culture. And I also ended up searching their websites for job roles that might suit me. When your employees and customers are happy, your business will prevail. I can’t just highlight one company more because all of them are equally outstanding with their principles.
This book would also leave us introspecting while prodding us to do something purposeful. The belief and perseverance that all the founders have, astonished me and just made me realise that passion must burn you in and out till you achieve what you envisioned. I highly recommend this book to everyone who has an enterprising and innovative mindset. But also, I’m sure that this book nudges you to step out of your comfort zone too.
June 20, 2025
Sick of startup narratives determined only by momentary valuations and constant burn rates? Dhruv Nath's "The Earnicorns" throws light on another type of success story, the Indian startups that have become unicorns not by virtue of hype and funding manias, but through building robust, profitable, and purposeful companies. The book narrates the stories of four such ventures: Naukri , Zerodha, Dream11, and Zoho. Not merely a history of their success, the book digs deeper into the how of their achievement, uncovering the setbacks, milestones, and daring choices that led them to where they are today. From the tiny origins of Naukri.com in secondhand gear to Zerodha's revolutionary zero-brokerage business and Zoho's focus on rural talent, all the stories provide valuable insights into resilience, moral business practices, and customer focus. CEOs such as Sanjeev Bikhchandani, Nithin Kamath, Harsh Jain, and Sridhar Vembu's personal stories infuse a powerful human touch, rendering the lessons even more effective. The book's best strength is its well-researched and carefully curated case studies. The author's curiosity and learning appetite are apparent at every point. He does not merely introduce solo success stories; he skillfully contrast these "earnicorns" in the conclusion, contrasting their similarities and differences. Each chapter has offered me a close look at a startup's journey, where I've learned invaluable lessons, seen how challenges were overcome. "Earnicorns" is a must-read for any aspiring entrepreneur, student of business or anyone looking for inspiration from stories of actual achievement in the face of reality rather than hype. For me, personally, it was a valuable resource for understanding the Indian startup ecosystem and a testament to the fact that dreams can come true profitably. Everyone must give it a read.
June 22, 2025
I was a little skeptical when I picked up The Earnicorns; I thought it’d be just another business book full of buzzwords and funding numbers. But much to my relief, the author, Dhruv Nath, who has been an angel investor for the past 10 years, was kind enough to answer this question of mine in the very first chapter about ‘Should you read this book?’ Well, I did! And I liked it!
The very first thing that appealed to me about this book was the friendly tone of the author, and the reading went really fast because of this simple and friendly language. He explained well what ‘unicorns’ are first and then explained how he came up with the word, ‘earnicorns,’ which are basically unicorns that are profitable. I thought this was smart!
In the book, Dhruv has chosen 4 unicorns that are the best, according to me, and dissected them from their humble beginnings to what they are today. These 4 unicorns are Naukri.com, Zerodha, Dream11, and Zoho. All of these companies built businesses that earned and are earning not only profits but also respect and long-term trust.
I liked Naukri.com’s humble beginnings and Zoho’s rural hiring model, where Sridhar Vembu brought jobs to small towns instead of chasing fancy city life. Zerodha’s zero-brokerage revolution was something; I mean, it changed an entire industry! Dream11’s persistence despite early rejections showed the power of believing rather than taking shortcuts.
I think this book can be read by anyone, no matter your profession or whether you want to or do not want to have your own start-up, because it will only inspire you immensely in whatever field of work you are in. It is not heavy with jargon, has clear insights, and the stories are deeply human. And yes, the little touches of humor made me smile.
All in all, ‘The Earnicorns’ is worth your time.
The very first thing that appealed to me about this book was the friendly tone of the author, and the reading went really fast because of this simple and friendly language. He explained well what ‘unicorns’ are first and then explained how he came up with the word, ‘earnicorns,’ which are basically unicorns that are profitable. I thought this was smart!
In the book, Dhruv has chosen 4 unicorns that are the best, according to me, and dissected them from their humble beginnings to what they are today. These 4 unicorns are Naukri.com, Zerodha, Dream11, and Zoho. All of these companies built businesses that earned and are earning not only profits but also respect and long-term trust.
I liked Naukri.com’s humble beginnings and Zoho’s rural hiring model, where Sridhar Vembu brought jobs to small towns instead of chasing fancy city life. Zerodha’s zero-brokerage revolution was something; I mean, it changed an entire industry! Dream11’s persistence despite early rejections showed the power of believing rather than taking shortcuts.
I think this book can be read by anyone, no matter your profession or whether you want to or do not want to have your own start-up, because it will only inspire you immensely in whatever field of work you are in. It is not heavy with jargon, has clear insights, and the stories are deeply human. And yes, the little touches of humor made me smile.
All in all, ‘The Earnicorns’ is worth your time.
July 11, 2024
Dhruv Nath's "The Earnicorns" dives into the world of Indian internet giants, offering a refreshing perspective on a landscape often dominated by venture capital-fueled startups burning through cash. Nath focuses on four success stories: Naukri.com, Zerodha, Zoho, and Dream11. These companies, unlike many internet darlings, prioritize profitability over unbridled growth.
The book delves into the journeys of these market leaders, showcasing the remarkable individuals behind them. We see Sanjeev Bikhchandani's bootstrapping brilliance, building Naukri.com from a garage with second-hand furniture to a dominant force in white-collar job recruitment. Nithin Kamath's story at Zerodha is equally inspiring, challenging the status quo with his zero-brokerage model for investors.
Zoho's tale is one of social impact. The company not only thrives financially but also transforms rural Tamil Nadu by nurturing young talent into skilled programmers. Dream11, under Harsh Jain's leadership, stands out for its audacity, launching a fantasy sports platform despite initial skepticism.
"The Earnicorns" offers valuable insights for aspiring entrepreneurs and anyone interested in the Indian tech scene. It highlights the importance of focusing on customer needs, building a strong founding team, and fostering a company culture that prioritizes long-term sustainability. The book doesn't shy away from the struggles these companies faced, making their achievements all the more remarkable.
While some readers might find the focus on just four companies limiting, "The Earnicorns" provides a compelling counter-narrative to the high-burn startup culture. It celebrates profitable growth and the impact these companies have on the Indian economy and society.
July 26, 2024
📚This book is a non fiction book on entrepreneurship that showcases the story of four successful unicorns and their inspiring journey to success and earning profits and becoming earnicorns as termed by the author. The companies are Naukri.com, Zerodha, Dream 11, and Zoho each coming up with new unique ideas that not only were useful for the consumers but also engaging for them.
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📚When web start ups are deemed to be failures these giants set the record differently by not only becoming successful unicorns but phenomenal in their journey. This book has been written with much clarity and optimistic outlook and positive ideas that bring about inspiration and ideas to the readers. Providing a delightful reading experience, written in an easily comprehensible manner. With key takeaways and inspiring journeys, it offers an interesting read that leaves a lasting impression also bringing about knowledgeable points that will provide guidance to new aspiring entrepreneurs
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📚This book portrays actual stories and experiences of the start ups which also faced crisis over the years and yet were able to overcome all these huge setbacks and conquered the market which provides us with the right idea and inspiring as well as the importance of resilience if one wants to move ahead with the dreams of having their own start ups and building profitable companies, this is a concise and motivating read.
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📚The book showcases inspiring behind the scenes story of reality behind this sucessful start ups and how they conquered the challenges that will surely comes along the way throughout an entrepreneurial journey. Written in a very easy lucid language which doesn't feel monotonous or preachy types but gives an amazing opportunity to learn about something new and valuable.
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July 26, 2024
"The Earnicorns: Stories of rare profitable unicorns" is a captivating book that delves into the success stories of four highly respected Internet giants. Written by author Dhruv Nath, the book tells the stories of Naukri.com, Zerodha, Zoho, and Dream11, and how they not only became profitable but also maintained their success.
Author Dhruv Nath's narrative delves into the compelling journeys of these market leaders and their visionary founders, painting a vivid picture of resilience, innovation, and unwavering dedication. One of the key themes of the book is the extraordinary founders behind these companies.
The journey of Sridhar Vembu, the ambitious founder of Zoho, is particularly inspiring. He transformed rural Tamil Nadu by fostering young talent and nurturing them into skilled programmers, thereby revolutionizing the local economy. Nithin Kamath, the humble founder of Zerodha, and his unconventional approach and dedication to democratizing investing resonate in the book's pages.
The author also delves into the story of Sanjeev Bikhchandani, the entrepreneur behind Naukri.com. The book highlights how Naukri.com grew to dominate the white-collar job market. Harsh Jain, who founded Dream11 amidst skepticism, illustrates the power of believing in one’s vision, transforming fantasy sports into a billion-dollar phenomenon.
The book provides valuable insights into these four companies, their strategies, challenges, and the mindset that helped them achieve profitability in an industry known for losses. Overall, "The Earnicorns: Stories of rare profitable unicorns" is a must-read for anyone interested in business success stories and the potential for profitability in even the most challenging environments✌️💙
Author Dhruv Nath's narrative delves into the compelling journeys of these market leaders and their visionary founders, painting a vivid picture of resilience, innovation, and unwavering dedication. One of the key themes of the book is the extraordinary founders behind these companies.
The journey of Sridhar Vembu, the ambitious founder of Zoho, is particularly inspiring. He transformed rural Tamil Nadu by fostering young talent and nurturing them into skilled programmers, thereby revolutionizing the local economy. Nithin Kamath, the humble founder of Zerodha, and his unconventional approach and dedication to democratizing investing resonate in the book's pages.
The author also delves into the story of Sanjeev Bikhchandani, the entrepreneur behind Naukri.com. The book highlights how Naukri.com grew to dominate the white-collar job market. Harsh Jain, who founded Dream11 amidst skepticism, illustrates the power of believing in one’s vision, transforming fantasy sports into a billion-dollar phenomenon.
The book provides valuable insights into these four companies, their strategies, challenges, and the mindset that helped them achieve profitability in an industry known for losses. Overall, "The Earnicorns: Stories of rare profitable unicorns" is a must-read for anyone interested in business success stories and the potential for profitability in even the most challenging environments✌️💙
July 28, 2024
⭐ My Rating - 4.8/5⭐
"The Earnicorns: Stories of Rare Profitable Unicorns" by Dhruv Nath is a compelling exploration of four extraordinary Indian startups—Naukri.com, Zerodha, Zoho, and Dream11. In a landscape where many internet businesses struggle to break even, these companies have defied the odds to achieve remarkable profitability.
About the Book:
👉Dhruv Nath's narrative is not just a collection of success stories but a detailed analysis of the principles and practices that set these companies apart.
👉From Naukri.com's humble beginnings in a garage to Zoho's transformative impact on rural Tamil Nadu, each story is rich with insights and practical lessons. Nath highlights Zoho’s incredible work in rural Tamil Nadu, Nithin Kamath’s disruptive zero brokerage model at Zerodha, and Sanjeev Bikhchandani’s rise with Naukri.com from a small operation to market dominance. Harsh Jain’s journey with Dream11, building a thriving fantasy sports platform amidst skepticism, is particularly motivating.
👉His engaging writing style makes complex business concepts accessible and relatable, offering a vivid portrayal of contemporary career fields and the modern vision needed to thrive in them.
Overall Feedback:
👉Overall, "The Earnicorns" is a testament to the power of vision, perseverance, and innovation in building sustainable, profitable enterprises.
👉With its practical advice, thought-provoking insights, and emphasis on passion, this book is a valuable toolkit for anyone looking to lead a prosperous professional journey.
👉Published by Penguin, this book is an insightful and comprehensive guide for those dedicated to succeeding and leading a prosperous life in the future.
"The Earnicorns: Stories of Rare Profitable Unicorns" by Dhruv Nath is a compelling exploration of four extraordinary Indian startups—Naukri.com, Zerodha, Zoho, and Dream11. In a landscape where many internet businesses struggle to break even, these companies have defied the odds to achieve remarkable profitability.
About the Book:
👉Dhruv Nath's narrative is not just a collection of success stories but a detailed analysis of the principles and practices that set these companies apart.
👉From Naukri.com's humble beginnings in a garage to Zoho's transformative impact on rural Tamil Nadu, each story is rich with insights and practical lessons. Nath highlights Zoho’s incredible work in rural Tamil Nadu, Nithin Kamath’s disruptive zero brokerage model at Zerodha, and Sanjeev Bikhchandani’s rise with Naukri.com from a small operation to market dominance. Harsh Jain’s journey with Dream11, building a thriving fantasy sports platform amidst skepticism, is particularly motivating.
👉His engaging writing style makes complex business concepts accessible and relatable, offering a vivid portrayal of contemporary career fields and the modern vision needed to thrive in them.
Overall Feedback:
👉Overall, "The Earnicorns" is a testament to the power of vision, perseverance, and innovation in building sustainable, profitable enterprises.
👉With its practical advice, thought-provoking insights, and emphasis on passion, this book is a valuable toolkit for anyone looking to lead a prosperous professional journey.
👉Published by Penguin, this book is an insightful and comprehensive guide for those dedicated to succeeding and leading a prosperous life in the future.
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