Why Zomato IPO is a reason to cheer: Times of India

(Swaminathan S Anklesaria Aiyar is the consulting editor of Economic Times. The column first appeared in Times of India on July 17, 2021)

  • Unicorns represent a veritable revolution in capitalism, where what matters is not inherited wealth but talent and innovative ideas. Billions are flowing across the globe to youngsters with no business history but promising ideas. Earlier, companies grew gradually. Banks were reluctant to lend to small newcomers. Getting multiple permits and clearances during the licence-permit raj was much easier for well-connected big business than newcomers. Money could be raised through the stock markets only by companies with an established track record of profits …

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