Hello there! In today's edition, we bring you exclusive coverage from the inaugural Moneycontrol Startup Conclave.

The event featured a combination of keynote speeches, panel discussions, and inspiring talks from both global and Indian experts in the fields of policy, venture capital, and entrepreneurship.

Here’s a quick rundown of everything that was discussed at the event.

• We have never looked at IRR (internal rate of return), said Silicon Valley veteran Vinod Khosla, taking a dig at Indian investors. He said that investors have been overly cautious when investing in deep-tech startups in the country. Khosla said Indian investors prioritise revenue growth over asset creation, which is a problem for deep-tech bets as it is all about asset creation. Khosla also believes that there is huge potential for deep-tech in India, thanks to the country's technical talent. He also said that a good venture capitalist is like a founder's parent, neither too permissive nor too controlling.

• Mohit Bhatnagar, Managing Director of Peak XV Partners (formerly Sequoia Capital India & SEA), has advocated for jail time for founders and entrepreneurs who do not comply with corporate governance laws. The venture capital firm has faced scrutiny over the actions of some companies it has invested in, leading to accusations of fraud and mismanagement. Bhatnagar emphasised the importance of governance, stating that it is crucial for a company's reputation and ability to attract talent and investors. He acknowledged that governance is now being discussed in every boardroom, indicating a positive change.
  
  
• Reserve Bank of India (RBI) deputy governor T Rabi Shankar said that the central bank may bring regulations for the fintech companies after consultation with the industry. He added that they are working on regulations for these entities and their ecosystem, but that they cannot give a timeline for when they will be released. Shankar also said that the RBI is working to make central bank digital currency (CBDC) interoperable with the Unified Payments Interface (UPI). (P.S. Shankar also spoke about RBI's concerns around cryptocurrencies)
  
  
• Fintech companies are rewriting the rules in innovation, but banks will co-exist with them, according to BharatPe chairman and former chairman of State Bank of India Rajnish Kumar. Legacy institutions like banks have advantages over fintechs in some areas, but fintechs lead in others, he said. In the future, banks and fintechs will become more like each other. Fintech companies can explore growth opportunities by identifying the need for innovation, he added. (Kumar also picked two Indian founders for a cage fight. Find out who they are.)
  
  
• Nithin Kamath, co-founder and CEO of Zerodha, and Sameer Nigam, co-founder and CEO of PhonePe, believe that investors and founders may have overestimated the potential market size for startups. They estimate that the total addressable market size for startups could be only around 100 million. Nigam also said that PhonePe could reach 500 million users by Diwali this year, and even with an annual active user base of 300 million, only 100 million would likely be buying the company's various financial services products. However, he added that the market size should be considered from a 10-year perspective.
  
  
• Pullela Gopichand is a badminton legend who could have been an engineer. He revealed that he failed an engineering exam by 7 marks, which luckily led to his career in badminton. He said that he randomly ticked answers on the exam and if 7 of those ticks had been right, he would have qualified for the course. Gopichand said he is grateful for his failure, as it led him to a career that he loves and is passionate about.

You can catch all the updates from Moneycontrol Startup Conclave in our liveblog or watch the recap of the event.