Chat Wise: Redefining the Social Media Landscape

On a remarkable day, the interview host met with a financial genius and a disruptor of traditional social models, Gagan, who left his lucrative job in the UK to make history. Gagan is the founder of Chat Wise, a revolutionary social media platform that flips typical business models on their heads, giving power and profits back to the people. Let's dive into more details:

Giving Away Equity

• Gagan's idea is simple, but revolutionary: Users contribute to the value of social media platforms, so they should get a share in the company's ownership. This philosophy has materialized into Chat Wise giving away 60% of its company to the users.
• First one million users, referred to as "co-founders" will each receive 30 shares initially after a 30-day streak on the app.
• More shares can be earned by inviting friends to the platform or posting on the app.
• Equity ownership heightens with user engagement and active participation.

Implementing the Plan

• Users earn their shares via a verification and KYC process similar to one seen on Instagram.
• Shares are allocated against each unique user ID, and these shares can be exercised or sold once the company goes public.

Insights on Power Dynamics in Social Media

• Gagan highlighted the invisible colonialism seen in social media, where Western companies harvest the time of Indian users, ultimately fuelling the companies' soaring valuations without any significant return to the users.
• He emphasized that their time and engagement, the real assets of any platform, are essentially owned by another company in the west.

Unique Incentivization for Users and Creators

• Chat Wise aims to break the vicious cycle by ensuring users, especially those belonging to India's lower-income groups, reap the benefits of their time and effort spent on the platform.
• By allowing users to earn shares through engagement, the platform also encourages a strong shift towards financial literacy and wealth creation.

The Journey to Financial Independency

• Born in a small town with an upbringing shaped by financial struggles, Gagan's journey to success is no less than inspiring.
• Despite his high earnings in the UK, Gagan remained frugal, always valuing investment for tomorrow over consumption today.
• The lessons learnt from his early struggle, resilience, and a disciplined approach towards investment led Gagan to amass a net worth of around 30 crores.

Success in the Investment World

• Apart from his tech venture, Gagan also proved his mettle in the world of investments.
• He attributes a large part of his success in financial endeavours to his sharp insights and careful diversification. For instance, he had invested heavily in tech stocks and utility/infrastructure stocks, enjoying the former's high potential returns and the latter's steady ones.

This interaction focused not merely on the concept of Chat Wise, but also on the man behind the vision, Gagan. His inspiring journey from early financial struggles to becoming financially independent and starting a venture that promises to make a difference in the world of social media and finance, paints an empowering picture that many can look up to.

Excited about the disruptive venture, our host and many others eagerly await the launch of the Chat Wise app.