WTF is with Nikhil Kamath

WTF is with Nikhil Kamath

"WTF is" is a podcast series where Nikhil Kamath hosts friends and industry experts and holds casual yet intellectually stimulating conversations. The podcast covers a broad range of topics of particular current relevance, including technology, social media, renewable energy, electric vehicles, philosophy, gaming, psychology and more.

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Episode's summary

Access the full data and references used in this episode below. Open the Canva Research Document Please open this alongside the episode while watching. We scan a QR code, enter a PIN, and move on. I wanted to understand everything that happens in between. If a payment feels instant and costs us nothing, who is doing the work, who is taking the risk, and who is paying for it? I sat down with Sameer Nigam of PhonePe, Harshil Mathur of Razorpay, and Sohini Rajola of NPCI to follow a payment through the system. We draw out the journey between an app, the banks and NPCI, get into why the confirmation on our phone and the settlement between banks are different things, and compare that with what happens when we use a credit card. From rewards and merchant fees to fraud, failed transactions and the cost of handling cash, there is a business behind every way we choose to pay. The conversation also gets into MDR, how the ecosystem funds itself, and what it takes to keep investing in wider access. Then we look ahead:…

Episodes

59-

If UPI Is Free, Who Pays for It? | PhonePe, Razorpay & NPCI | WTF is Payments?

Access the full data and references used in this episode below. Open the Canva Research Document Please open this alongside the episode while watching. We scan a QR code, enter a PIN, and move on. I wanted to understand everything that happens in between. If a payment feels instant and costs us nothing, who is doing the work, who is taking the risk, and who is paying for it? I sat down with Sameer Nigam of PhonePe, Harshil Mathur of Razorpay, and Sohini Rajola of NPCI to follow a payment through the system. We draw out the journey between an app, the banks and NPCI, get into why the confirmation on our phone and the settlement between banks are different things, and compare that with what happens when we use a credit card. From rewards and merchant fees to fraud, failed transactions and the cost of handling cash, there is a business behind every way we choose to pay. The conversation also gets into MDR, how the ecosystem funds itself, and what it takes to keep investing in wider access. Then we look ahead:…

02 Nov 2026
58-

Is AI a Bubble? I Asked the People Building It | WTF is AI?

Access the full data and references used in this episode below. Please open this alongside the episode while watching. https://canva.link/jzw1hvv14z38mew Footage Credits & Sources 1. Elon Musk Footage Source: The Economist (YouTube) Link: https://youtu.be/1X-rr1DKSbY?si=wLJd3G82bo389CsH 2. Sam Altman Interview Source: Fortune Magazine (YouTube) Link: https://youtu.be/2my-NU6LuCM?si=MDhrcvqcu_vlod53&t=336 3. Donald Trump Footage Source: New York Post (YouTube) Link: https://youtu.be/RsT2NYu8Y_Y?si=fuOhm3kKY-nWEw63&t=15 4. Australian Government Website hack Clip Source: Firstpost (YouTube) Link: https://youtu.be/gmf8sdQGwm4?si=9UT_LCgkldxXH4YV Is AI a bubble, or are we underestimating how much it can change? That’s the question I kept coming back to in San Francisco. Young companies are attracting extraordinary valuations, while I’m still trying to see how the promised productivity gains are reaching the wider economy. I put that scepticism to Akshay Kothari of Notion, Vijay Krishnan of Turing, and Ricursive…

24 Oct 2026
57-

AI: The Future, or the Fad of the Season? | WTF is AI? | Trailer

I went to San Francisco with a basic question: if AI can do more of the work, where does that leave the person doing it today? I asked Akshay Kothari of Notion, Vijay Krishnan of Turing, and Ricursive Intelligence’s Azalia Mirhoseini and Anna Goldie to help me understand what is changing. We got into people teaching AI to do their own kinds of work, small teams using it to do more, why the money going into this industry makes me nervous, and what someone starting out in India should make of it. I kept asking them to explain it more simply, because I wanted to understand the opportunity as well as the risk. Here’s a first look at WTF is AI. Full conversation coming soon. Akshay Kothari — Co-founder and COO, Notion LinkedIn: https://www.linkedin.com/in/akothari/ Vijay Krishnan — Founder and CTO, Turing LinkedIn: https://www.linkedin.com/in/vijay0/ Anna Goldie — Co-founder and CEO, Ricursive Intelligence LinkedIn: https://www.linkedin.com/in/adgoldie/ Azalia Mirhoseini — Co-founder and CTO, Ricursive…

22 Oct 2026
56-

Who Gets To Decide How India Pays? | WTF is Payments? | Trailer

I wanted to start by drawing a diagram of the different kinds of payments and how we got here. We use UPI for everything from everyday purchases to applying for an IPO, but using it and understanding it are different things. What makes us choose one way to pay over another? What does it take to build trust? And why does a conversation about competition turn into a disagreement about who should be allowed to decide? This one moves from consumer incentives and bank regulation to the scale of UPI, caps on market share, and the possibility of AI agents transacting for us. There is disagreement over the costs, the timing, and whether changing commerce means payments must change too. Twenty pages of questions at the table, and one more subject waiting at the end: MDR. Sohini Rajola- Executive Director Growth at the National Payments Corporation of India. Linkedin:https://www.linkedin.com/in/sohinirajola/ Sameer Nigam- Founder and CEO of PhonePE Linkedin: https://www.linkedin.com/in/sanigam/ Harshil Mathur:…

14 Oct 2026
55-

Will ChatGPT Book Your Next Holiday? | MakeMyTrip x Taj Hotels | WTF is Travel?

Access the full data and references used in this episode below. Please open this alongside the episode while watching. Open Reference Document I put Rajesh Magow, the chartered accountant who co-founded MakeMyTrip on a team where almost nobody knew travel, and Puneet Chhatwal, the Delhi boy who spent twenty-eight years running hotels in Europe before coming home to pull IHCL out of a decade of losses, into one room to explain the business of Indian travel from scratch, and what came out was far bigger than a lesson, from why boutique hotels are better built by outsiders and how a fifty crore partnership between their companies became twelve hundred, to what a hotel actually pays to sit on MakeMyTrip and why booking direct still isn't cheaper, why ChatGPT can't scrape its way into the travel funnel and where voice bookings are taking tier-three India, why Puneet thinks the answer for a 25-year-old isn't another app but a small, clean hotel, why only ten million foreigners visit a country with more than forty…

11 Sep 2026