All Things Policy Book Discussion | The Groundbreaker by Kanwal Rekhi
Jan 21, 2026
Kanwal Rekhi, an influential Indian-American entrepreneur and investor, shares insights from his memoir, detailing his journey as part of the 'dollar eight' emigrés. He discusses taking Exelan public and the challenges of changing perceptions of Indian-American leaders in Silicon Valley. Rekhi critiques India’s telecom monopoly and advocates for key reforms that transformed the sector. He highlights the evolution of India's startup ecosystem and the importance of grassroots entrepreneurship while addressing the geopolitical dynamics surrounding US-India relations.
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Prepare Your Company For IPO Reality
- Treat an IPO as the final validation: profitable, predictable growth and true market fit are prerequisites.
- Price the offering to leave initial investors a reasonable upside and focus on long-term company stability.
Stepped Aside To Win Market Trust
- Fearing Wall Street bias, Rekhi brought in an external CEO for Exelan's IPO, stepped aside, then resumed CEO role after six months.
- The company proved its value and Wall Street accepted him as a performer afterward.
Why Revenue Share Beats High License Fees
- Licensing auctions often convert license value into the product, starving network buildout capital.
- Revenue-share models preserve operator capital for infrastructure and deliver better rollout outcomes.
