CRED founder Kunal Shah recently remarked that with the surge of artificial intelligence, freshers might turn entrepreneurs because of the absence of suitable jobs.
He wrote on the social media platform X, “AI may force freshers to become entrepreneurs due to lack of entry level jobs.”
Netizens react
Many individuals have responded to the post by the fintech entrepreneur.
“And then VCs will force them to become employees again. Full circle,” an individual commented, to which Kunal Shah replied: “Best companies and best entrepreneurs of India have never raised VC capital.
We have celebrated funded founders way too much to a point that everyone assumes that business is impossible to do without VC money.”
Another individual wrote, “I doubt even a fraction of them have the motivation to do what it takes to be an entrepreneur though.”
“Yes, but largely engineers and analysts,” said a third user. “Roles like sales & design are more human-first. Harder to replace with AI.”
“GenZ and Alpha will do well,” opined another user. “Boomers will get outta dodge in time probably upper X too. The middle of GenX and Millennials are gonna have a hard time.”
The fintech entrepreneur Kunal Shah
Born and raised in Mumbai, Maharashtra, Shah is an entrepreneur and angel investor. He is the co-founder of Freecharge and the founder of CRED, a fintech company valued at around $6.4 billion.
In 2010, he co-founded FreeCharge, a digital payments company, with Sandeep Tandon. The company gained huge popularity, attracting millions of users. In 2015, Snapdeal acquired FreeCharge for $400 million.
In April 2018, Shah founded the credit card bill payment platform, CRED, with his own capital at the age of 35. The platform rewards users for timely payments.
CRED raised substantial funding from investors, including DST Global, Sequoia Capital, and Tiger Global. In June 2023, Kunal Shah's company raised $140 million at a valuation of $6.4 billion. The fintech startup became the official sponsor of the Indian Premier League from 2020 to 2023.
Kunal Shah's posts on X
The CRED founder is popular on the X platform for sharing motivational posts related to life and business.
In another recent post, Shah remarked, “Ambition spreads through osmosis and can’t be taught.”
Also read: This Indian-origin executive out-earned Satya Nadella and Sundar Pichai: From PwC trainee to $139 Mn Tesla CFO (startuppedia.in)
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