The real reason startups don’t make profits

This founder skipped college, tried to buy Gemini, and claims to be building immortality!On this episode of The Jest Business, Paddy and I sit down with “Samrat Chakravarti,” the so-called serial entrepreneur behind EtherChain. He tells us how his startup plans to turn human memories into NFTs, why making losses is a badge of honour, and why he hires only people with no experience. From SPACs to Rafael Nadal’s forehand, his journey is a hilarious take on the world of startups, venture capital, and AI in business. If you’re curious about startup culture, entrepreneurship, and the absurd side of tech founders, this episode will keep you laughing all the way!IN THIS EPISODE(00:00) Why startups are really just “start-downs”(03:29) Meet the world’s most outrageous “entrepreneur”(05:10) The funding shortcut no one admits to taking(07:17) A business model too crazy to believe(08:16) Tech jargon or scam? You decide(11:14) Can money buy celebrity memories?(15:06) When ambition outgrows technology itself(16:56) Zero users, infinite confidence(07:42) Why losing money makes you a “visionary”(20:32) The bizarre logic behind startup hiring(21:37) How to “pay” without paying(24:09) Marketing hacks only a mad genius could tryOur Guest: Amit RayAmit is an alumnus of IIM Calcutta and the founder of CrazyTok, a ‘new media’ content marketing firm focused on podcast and YouTube production for CxOs, founders, and business owners.Prior to founding CrazyTok, he worked at a mix of mature and fast-growing organizations, most recently at Grab and Uber. He has worked in India, the Philippines, and the US and currently lives in Singapore with his wife, son, and dog, Pepper.https://www.linkedin.com/in/amitray/Coromandel ProductionsAt Coromandel Productions, we aim to showcase human interest & heart-warming stories from all walks of life. We do this through short films, documentaries, sports television, corporate films, feature based content & promotional videos. Instagram: instagram.com/coromandel_productionsYouTube: www.youtube.com/@coromandelproductions518Vimeo: vimeo.com/coromandelproductionsWebsite: coromandel-productions.comRahul PhondkeRahul Phondke has been a prolific writer of humour columns since his childhood days which ended sometime last year. People are still wondering how this happened. He turned to writing humour at an early age in an effort to find some meaning to the angst of life, which he found almost immediately after his first two cans of beer. Based in Singapore, he is extremely sought after by the locals ...unfortunately most of whom happen to be the police. He is an active member on Facebook and can be easily reached...unless he happens to owe you moneyConnect with Rahul at https://www.linkedin.com/in/rahul-phondke-522a17/Paddy RangappaPaddy Rangappa has worked in marketing for more than twenty |six years. After over a decade in Procter & Gamble in India, Indonesia, and Singapore, he became vice president, brand development for McDonald’s in Asia Pacific, Middle East, and Africa (APMEA) and developed strategies to significantly grow breakfast, beverages, and desserts, especially the McCafé brand, across APMEA. Outside work, Paddy is an avid tennis player and a freelance writer. He has also taught Integrated Marketing Communications (IMC) to senior undergraduates and MBA students at the Singapore Management University (SMU). He is the author of Been There Bungled That and Spark.Connect with Paddy at https://www.linkedin.com/in/paddyrangappa/About the ShowThe Jest Business is a podcast that pokes fun at the wild world of corporate speak & boardroom absurdities. Hosted by Paddy Rangappa and Rahul Phondke, it’s where business meets banter—with a healthy dose of self |deprecating humour. From buzzwords to bloopers, we decode jargon, laugh at leadership, and challenge the serious side of success. If you’ve ever sat through a strategy meeting & thought, Wait, what did that mean?—this one’s for you.