Why E-commerce Winners Need Hardware, Not Just Apps
Indian e-commerce defensibility no longer lives in app features alone. Winners are building logistics networks, payment infrastructure, and fulfillment hardware—the software becomes a cost center, not a moat. Margin math favors integrated operators.
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Amit Tyagi
Founder, AletheiaAI & GP, Fitoor Capital
Veteran of India's startup ecosystem. Writing about fundraising, investor psychology, and what it takes to build fundable startups in India.
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