Shantanu Deshpande, founder and CEO of Bombay Shaving Company, sparked a significant online conversation with a recent LinkedIn post addressing India’s stark economic inequality. He highlighted the disparity where a mere 2000 families own 18% of the nation’s wealth yet contribute a minuscule 1.8% to its tax revenue, a situation he described as “INSANE.”
Deshpande’s post delved deeper, reflecting on the pervasive “work hard and climb up” narrative popularized by successful entrepreneurs like himself. He acknowledged a crucial realization: many Indians work not out of passion or aspiration, but out of sheer economic necessity. He contends that if provided with adequate financial security, the vast majority – a staggering 99% – would abandon their current employment. This observation encompasses a wide spectrum of workers, from blue-collar employees and government workers to gig economy participants and small business owners, highlighting a pervasive dissatisfaction with the status quo.
The CEO further elaborated on the immense pressures faced by individuals striving for financial stability. Many work tirelessly, enduring long hours and separation from family, to support spouses, children, elderly parents, and other dependents. This, he argues, is a system accepted largely due to its historical precedent, a way of life perpetuated for over 250 years. He directly addresses his own complicity, stating that he and other “equity builders” are partly responsible for promoting the “work hard and climb up” narrative, a self-serving message born out of a lack of alternative perspectives. He concludes by emphasizing the harsh realities faced by the vast majority, carrying invisible burdens and smiling through the seemingly inescapable struggles of daily life.
Deshpande’s post generated considerable engagement, with commenters offering diverse perspectives. One user attributed the issue to excessive government spending leading to asset inflation and relative poverty. Another countered that while many corporate employees might choose not to work if provided financial security, a nation’s progress relies on a much broader workforce, including farmers, teachers, and healthcare workers. A third commenter pointed to the role of education and training in perpetuating the existing structure, highlighting the limited vision and opportunity available to many.
The post’s widespread engagement, garnering nearly four thousand views, underscores the resonance of Deshpande’s observations regarding India’s economic landscape and the need for a more equitable distribution of wealth and opportunity.