The West Blindly Printed Their Currencies | IT sector Layoffs & Salary Cuts | Dr Ankit Shah Explains

Summary

This video delves into the issues surrounding the tech and IT sectors, reflecting on a tragic incident involving a 30-year-old software consultant's suicide. The speaker critiques the inflated payments in the tech sector, primarily attributed to excessive dollar printing by global powers. The narrative emphasizes the shift of focus from core sectors like farming, manufacturing, and logistics, which have seen little innovation. It encourages the audience to embrace frugality, savings, and innovation in other sectors, while stressing the importance of religion, physical health, and a rooted lifestyle. The speaker also advises against adopting the Western approach to suicide, proposing initiation as a more suitable option in challenging times.

Takeaways

• 😀 The IT and tech sectors' high payments were largely due to the printing of dollars by the US government, not based on the actual value of intellectual contributions in the sector.
• 😀 The false narrative of brain drain has been perpetuated by experts, making people believe that those who move to the West are inherently more intelligent, leading to the destruction of aspirations in India.
• 😀 The focus on IT has caused a decline in innovation in core sectors like farming, manufacturing, and logistics, which remain underdeveloped in comparison.
• 😀 The collapse of the dollar's purchasing power due to massive debts incurred by the US in recent years makes it impossible for them to continue affording high wages in the IT sector.
• 😀 India’s cultural values, based on Dharma, have promoted savings, family support, and long-term planning, which contrasts with Western lifestyles focused on individualism and lack of savings.
• 😀 There has been no true 'brain drain' from India to the West as the top 1% of India is unlikely to be swayed solely by monetary incentives, as they live a different, more self-reliant lifestyle.
• 😀 The rise of technology sectors has led to a growing divide between the educated tech professionals and their families, with many cutting ties, making it harder to seek help in times of crisis.
• 😀 During times of hardship, the focus should be on physical health, religion, and maintaining family ties, rather than following the Western trend of suicide as a solution to problems.
• 😀 Suicide, a Western template, should not be the answer when facing personal or financial struggles. There are alternative paths like initiation in Indian religion, which offer peace and detachment from worldly pressures.
• 😀 The value of those who choose to renounce worldly possessions and attachments is highly regarded in Indian culture, especially in contrast to the Western pursuit of wealth and success.
• 😀 The increasing instances of assisted suicides in countries like Canada highlight the moral decay of Western societies, which India should avoid, focusing instead on attachment to one's roots and sustainable living.

Q & A

What is the main reason behind the high salaries in the IT sector according to the speaker?

The speaker argues that the high salaries in the IT sector were largely due to the endless printing of dollars, rather than a reflection of the actual value of the work. The payments were artificially inflated because of the proximity to the 'dollar printing machine.'

How does the speaker criticize the brain drain narrative?

The speaker criticizes the brain drain narrative by stating that the top 1% of India’s talent cannot be attracted by money alone, and that the concept of brain drain is misleading. They argue that the real reason for migration is the global economic system rather than a lack of intelligence in India.

What sectors does the speaker suggest India should focus on, given the issues in the IT sector?

The speaker suggests focusing on sectors such as manufacturing, farming, food processing, logistics, defense, and space. They propose using IT skills to innovate and contribute to these core sectors to foster real growth in India.

What is the significance of Dharma in the speaker's argument?

Dharma is highlighted as an essential factor that distinguishes Indian values from Western ideologies. The speaker emphasizes that Dharma promotes a savings-based lifestyle and a sense of responsibility towards family, which is lacking in Western societies that follow a commandment-based system.

How does the speaker suggest handling personal and financial struggles during tough times?

The speaker advises focusing on religion and physical health when going through difficult financial situations. They recommend adopting a frugal lifestyle, limiting expenses, and avoiding loans or costly assets. Additionally, they encourage saving and diversifying income sources.

What does the speaker suggest regarding suicide and its comparison to Western practices?

The speaker condemns suicide as a solution to personal struggles, explaining that suicide is a Western template that does not align with Indian values. Instead, they suggest considering the path of initiation in Indian spirituality, which involves detaching from worldly attachments in a meaningful way.

What point does the speaker make about the financial behavior of people in the IT sector?

The speaker points out that many individuals in the IT sector, due to inflated salaries, have developed arrogant behaviors, treating their families and relatives poorly. This behavior is attributed to the overvaluation of their worth in comparison to other sectors, leading to social disconnection.

Why does the speaker argue that the IT sector in India has not led to innovation in core industries?

The speaker argues that while IT sector jobs provided high pay, they did not foster real innovation in industries like farming, manufacturing, or logistics. The focus on IT led to a lack of progress in these sectors, ultimately damaging India's core industries and their potential for growth.

What is the speaker's view on Western influence on Indian aspirations?

The speaker believes that Western influence, particularly the portrayal of the West as superior, has negatively impacted Indian aspirations. By promoting the idea that success can only be achieved in the West, this narrative has undermined India’s potential and self-confidence.

How does the speaker view the future of the IT sector and its sustainability?

The speaker sees a challenging future for the IT sector, as they believe the artificial inflation of payments due to global economic forces is unsustainable. They encourage diversifying the client base to countries like Russia, West Asia, Japan, and Southeast Asia to maintain stability, but also emphasize the importance of adapting to changes by focusing on core sectors.