Startup

Warren Buffett’s #1 success tip: Choose your circle wisely

Published

2 weeks ago

October 24, 2024

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Warren Buffett, one of the most successful investors of all time, is known for his straightforward wisdom on building wealth and achieving long-term success. But amid all his financial strategies, there’s one critical decision he believes can make or break your success—not just in business, but in life. It’s not about what stocks you pick or how much money you save; it’s about something much deeper.

According to Buffett, the single most important choice you make on your path to success is who you surround yourself with. The people in your life can either inspire and uplift you or pull you down. In this article, we’ll explore why this decision matters so much and how you can apply Buffett’s advice to accelerate your personal and professional growth.

Why the company you keep matters the most

1. The power of association: Who you surround yourself with matters

Warren Buffett has often emphasised the importance of the people you choose to spend your time with. In one of his famous quotes, he said, “You will move in the direction of the people that you associate with. So it’s important to associate with people that are better than yourself.” This simple but profound advice stems from the idea that humans are social beings who are influenced by those around them.

When you surround yourself with positive, intelligent, and driven individuals, their energy and mindset can propel you toward success. Conversely, if you’re constantly surrounded by negative or complacent people, it can be easy to adopt their attitudes and behaviours. The people you spend time with shape your mindset, work ethic, and even your approach to challenges.

2. Relationships and success: The ripple effect

The relationships you cultivate in your personal and professional life have a ripple effect on your success. Strong relationships can open doors, create opportunities, and offer invaluable support. Buffett’s own life is a testament to this idea. His long-term business partnership with Charlie Munger is often credited as one of the key factors behind his enduring success.

Munger, known for his sharp thinking and ability to challenge Buffett’s ideas, has provided a sounding board and helped guide key decisions for decades. This partnership shows the importance of having people who are not only smart but who can constructively challenge your thinking.

In your own life, whether you’re an entrepreneur, a professional, or simply someone striving for personal growth, seek out individuals who inspire you to do better. Choose friends, mentors, and business partners who challenge your perspectives and help you see things differently. These relationships can significantly impact your trajectory.

3. The influence of environment: Growth through exposure

The people you surround yourself with don’t just influence your mindset; they also determine the kind of environment you live and work in. A growth-oriented environment fosters continuous learning and improvement. When you are surrounded by people who push boundaries, set higher standards, and continually strive for excellence, you’re more likely to adopt the same habits.

Warren Buffett’s own life serves as an example. While he was always a self-motivated individual, he also credits much of his growth to the learning opportunities and mentors he had along the way, including his early association with Benjamin Graham, the father of value investing.

To create your own growth-oriented environment, look for communities, networks, or workspaces where excellence is the norm. Whether it’s a mastermind group, a professional network, or simply a circle of like-minded friends, this environment will encourage you to think bigger and push beyond your limits.

Avoiding toxic relationships: The silent success killer

Just as important as choosing the right people to surround yourself with is avoiding the wrong ones. Toxic personal or professional relationships can drain your energy, lower your self-esteem, and create unnecessary stress. Warren Buffett is known for his disciplined approach to life, which also extends to his relationships. He advises steering clear of people who are dishonest, manipulative, or have a negative outlook on life.

These toxic relationships can act as an anchor, holding you back from realising your potential. The time and energy spent managing difficult relationships could instead be used to invest in yourself or build productive partnerships.

How to choose the right people for your circle

The decision of who to surround yourself with is not just about avoiding toxic people or seeking out successful ones. It’s about finding people who align with your values and long-term vision. Here are a few tips inspired by Warren Buffett’s philosophy:

Look for character

Buffett often says that character is more important than intelligence or skill. People who are honest, hardworking, and reliable will always contribute positively to your life.

Find growth-minded individuals

Surround yourself with people who are always learning and growing. These individuals will motivate you to keep improving yourself.

Seek diversity in perspectives

You don’t want a circle that always agrees with you. Choose people who challenge your thinking and offer new perspectives.

Build mutually beneficial relationships

The best relationships are those where both parties learn and grow together. Be sure to invest in people who also invest in you.

As difficult as it may be, letting go of relationships that no longer serve you is crucial for growth. Whether it’s an unhealthy friendship, a draining work environment, or even an unsupportive family member, it’s essential to prioritise your well-being and success. Warren Buffett stresses that life is too short to spend it with people who do not bring out the best in you. Surround yourself with those who lift you up and let go of those who drag you down.

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Startup

Flipkart selects five startups for third cohort of Flipkart Leap Innovation Network

Published

46 mins ago

November 7, 2024

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Flipkart has selected five innovative startups for the third cohort of its flagship startup accelerator programme, Flipkart Leap Innovation Network (FLIN).

The cohort is introducing startups that are driving advancements across GenAI, omnichannel, analytics, and video commerce, the company said in a statement.

The selected startups— Intelligence Node, Invenzo Labs, StoryBrain, Phyllo, and D-ID— are set to run pilot programs with Flipkart to develop solutions.

“The selected startups get access to mentorship, resources, and the opportunity to execute pilot projects within the Flipkart ecosystem, scaling their solutions to meet the demands of India’s digital economy and e-commerce growth,” the company said.

Since its launch in 2022, the accelerator programme aims to accelerate the growth of the startup ecosystem in India, driving collaboration, and championing cutting-edge retail innovations.

“Through the FLIN programme, Flipkart continues to expand its role as a catalyst for innovation within India’s startup ecosystem, providing a collaborative platform for startups to test, refine, and deploy solutions that can shape the future of e-commerce in India,” said Naren Ravula, Vice President and Head – Product Strategy and Flipkart Labs.

The programme is designed to engage with startups through commercial partnerships in Flipkart’s areas of interest. Successful startups get the opportunity to scale up to a business partnership.

Over 20 startups from the initial two cohorts have concluded pilots working closely with the Flipkart Product and Engineering teams.

The company added that four startups from the previous cohort— Anagog, Speedsize, Sangti, and Vtion— have recently concluded successful pilot projects with Flipkart.

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Startup

Thesys secures $4M funding led by Together Fund

Published

2 hours ago

November 7, 2024

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AI startup Thesys bags $4 million funding in a round led by Together Fund. The round also saw participation from 8VC, the company said in a statement.

The startup will use the funding to bridge the gap of user experience with AI agents. As a visual collaboration tool, the company will also provide a platform that will enable businesses to ideate, visualise, and ship intelligent experiences at scale.

“The way we engage with technology is changing faster than ever. Static interfaces simply don’t meet the demands of today’s AI-capabilities…At Thesys, we’re building tools that make it possible for businesses to adapt and thrive in this new era,” said Parikshit Deshmukh, Co-founder, Thesys.

This evolution is about unlocking the full potential of AI-driven interactions and delivering unparalleled user experiences, he added.

“The future of AI relies as much on intuitive, adaptive interfaces as it does on backend capabilities. Thesys’ vision for Generative UI aligns perfectly with Together Fund’s commitment to enabling founders who are redefining the user experience,” said Manav Garg, Co-founder and managing partner of Together Fund.

“By empowering teams to create real-time, personalized interactions, Thesys is setting a new standard for AI-driven interfaces. We’re excited to support their journey in transforming the role of design and development tools for the next generation of AI applications,” he added.

The company, founded by Rabi Shanker Guha and Parikshit Deshmukh this year, emerged from the understanding of the need to provide support in the shift towards AI-driven interfaces, it said.

“Thesys envisions a future where all interfaces dynamically adjust to each user’s behavior, preferences, and needs—driven by what the company calls “Generative UI”. Unlike traditional static interfaces that rely on predefined paths, Generative UI uses AI to create unique, adaptive user interfaces on-the-fly, allowing businesses to provide truly personalized digital experiences,” the company added.

The company plans to launch a UI SDK that is set to enable developers to seamlessly integrate Generative UI into their applications. Additionally, post its closed beta launch, the company plans a general availability (GA) with its product within the next quarter positioning itself as the go-to product toolkit for businesses looking to stay ahead in the AI revolution.

“Thesys is pioneering a transformative shift in UI design workflows by integrating AI-driven adaptability… Their Generative UI approach aligns with our commitment to investing in technologies that drive innovation in user experiences,” said Bhaskar Ghosh, partner at 8VC.

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Startup

BrowserStack launches AI-driven Low Code Automation tool

Published

3 hours ago

November 7, 2024

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Software testing platform BrowserStack has rolled out Low Code Automation, a solution to simplify test automation for quality assurance teams, developers, and non-technical users.

The newly launched solution will address challenges faced by software teams, including manual testing delays and complex automation frameworks, BrowserStack said in a statement.

While traditional test automation requires coding expertise by often limiting non-technical testers to contribute, this tool allows user—irrespective of their technical background—to create and manage AI-driven automated tests without writing code. Users can also use BrowserStack’s cloud infrastructure for reliable test execution.

“(The AI-powered Low-Code Automation (LCA) simplifies the process of building and maintaining test automation suites compared to traditional tools like Selenium. It reduces the steep learning curve and complexity often associated with automation projects, leading to a quicker return on investment (ROI),” Chintan Doshi, Director of Product Management at BrowserStack, told YourStory.

To support development teams worldwide, Low Code Automation speeds up testing cycles, boosts product quality, and enhances user experience by reducing technical barriers.

“Citizen testers—such as business analysts, product managers, and customer support teams—can easily add validations and create automated tests with the test recorder, without requiring coding skills. This reduces their dependency on developers and QAs and empowers them to actively contribute to testing efforts,” Doshi explained.

Founded in 2011 by Ritesh Arora and Nakul Aggarwal, BrowserStack provides a cloud-based platform for developers to test websites and mobile apps across devices, operating systems, and browsers on demand.

With headquarters in San Francisco and Mumbai, the company has expanded its product line to include over 15 products, of which 10 were launched in the past 18 months.

In August, the Accel-backed firm acquired Berlin-based Bird Eats Bug, an advanced bug-reporting tool. The acquisition aims to address the existing gaps in bug reporting and streamline fragmented testing workflows.

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