As the Russia's assault on Ukraine continues, so does its effect on the global market. On a day when reports emerged of the market being rattled and Indian investors losing Rs 29 lakh crore since February, Zoho CEO Sridhar Vembu took to Twitter to share some advice that he gave his employees.
On Monday, Vembu posted a Twitter thread saying: "I am sharing the message I have been giving our employees."
"The world faces many serious challenges, that include extremely high levels of debt, serial bubbles in most markets, climate change, pandemic, inflation and now war. The global economy is not at all healthy."
Sridhar Vembu then proceeded to advise his employees to never take prosperity for granted and to be prepared for tough times.
"While our company is on a very healthy foundation and we have weathered two serious downturns in our 25-year history, we must never take prosperity for granted. Assume that tough times will be ahead and be prepared. Pay down debt. Be frugal," he tweeted.
Without mentioning either Russia or Ukraine, the Zoho CEO cautioned that the existing global order may come to an end soon leaving little idea of what's to come next.
"The global order of the last 50 years may be coming to an end. We do not know what lies ahead. Expect turbulent times. Self reliance and Resilience are good ideas during such times," Vembu tweeted.
He, however, ended his Twitter thread on a hopeful note. "We also need faith and the optimism born of faith to survive tough times. Have faith," Vembu said.
Vembu's message received a mixed response on Twitter. While some lauded him for the timely advice, others disagreed with his approach and a few even asked him not to spread panic.
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"This is a message that applies well to all of us Sridhar. Very timely communication and self belief and optimism will see us emerging stronger. World is getting turbulent and we are likely to see dramatic changes similar to the events after fall of Berlin wall," tweeted user GK Raju.
Former hedge fund manager and cyclical investor Vijayanand Venkataraman commented, "Sometimes, we mistake cyclical issues to be structural issues. Are we making similar error vis-a-vis the current situation? We have seen 1980's (Japan), 2000's (China) where a new export power emerges and the intervening periods where US claws back. 2020s could be India's decade."
While Madhyamika who goes by the handle @orange_monk1 said, "Sir, you have a great company. Don't create unnecessary panic. Focus on creating great products and services."
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