Amit Chandra is the Chairman of Bain Capital India, a board member of Tata Sons, and a founder-trustee of Ashoka University who has committed to give away 90% of his wealth. Through the A.T.E. Chandra Foundation, he and his wife Archana have rejuvenated thousands of water bodies across drought-prone India, including in Ahmednagar, where I grew up. Tiny lessons: India is the place to be and build, if you are playing the long game. Early in your career, optimize for the best apprenticeship, even if the paycheck isn’t the highest. Investing is 20% theory, 80% practice and feedback. Judge feedback by the intent behind it, not how it’s delivered. Perseverance is the singlemost important train he would look for in a mentee. Essay (a few personal highlights from the conversation): If you want to become a good investor, find yourself a good mentor and seek feedback. Amit chose DSP, the lowest-paying offer he had, because building quality foundation offered mattered more to him. He describes his early bosses as ironsmiths who beat him into shape with brutal feedback. Robert Greene writes something identical in Mastery: “The goal of an apprenticeship is not money, a good position, a title, or a diploma, but rather the transformation of your mind and character.” A test of a good mentor, Amit adds, is that they stop you from making really stupid mistakes, but also push you to aspire for things you never imagined you were capable of. Say what they need to hear, not what they want to hear. In a world driven by strongmen of questionable morals, honesty can be refreshing . Early in Amit’s career at DSP, Kumar Mangalam Birla’s group invited bankers to present for raising project capital. Every banker knew the expected answer. Amit, a junior banker at the time, ran the analysis, felt the project didn’t make sense, and was pretty direct with the answer he thought was right. That honesty laid the foundation for a relationship with the Birla group that lasted decades. After a point, the amount of wealth matters less. In a private chat two years ago, Amit told me something that stayed, “We start our lives in pursuit of wealth, but after say 30 crore rupees, each additional crore adds far less to your life.” Chuck Feeney, the cofounder of Duty Free Shoppers who was once the 23rd richest American alive. Feeney secretly transferred his entire fortune to his foundation, Atlantic Philanthropies, and gave away over $8 billion during his lifetime. Amit often references Feeney’s teachings, and the Chandras have taken that philosophy and made it their own, aiming to give away 90% of their income every year, not after death but right now. Link to the transcripts; spotify; youtube, and everywhere else you listen to my show. Resources and Episodes mentioned: People: Hemendra Kothari (Hemendra): Veteran investment banker, founder of DSP Financial Consultants / DSP Merrill Lynch, and one of Amit Chandra’s early bosses/mentors. Kumar Mangalam Birla: Chairman of the Aditya Birla Group, referenced during a key early DSP pitch story. Chuck Feeney: Renowned American billionaire, co-founder of Duty Free Shoppers (DFS), and pioneer of the “Giving While Living” movement. Rumi: The 13th-century Persian poet (quoted: “Yesterday I was clever, so I wanted to change the world. Today I am wise, so I want to change myself.”). Books: Sri Guru Granth Sahib (Sacred Hymns and Shabads) Mastery by Robert Greene The Billionaire Who Wasn’t: How Chuck Feeney Made and Gave Away a Fortune Without Anyone Knowing by Conor O’Clery
