New vs Old Way

The old way utilizes networks based on relationships, information asymmetry, access to capital to have an advantage over others and thus accumulate wealth. With the advent of technology, these are no longer very advantageous. Now anyone can do business. 

There is virtually little information gap due to internet. Access to capital is not a major factor for small scale. And e-commerce has reduced the importance of networks. In sum, anyone can do a lot of things now. So if anyone can do it, it makes sense not to do it.

Overcharging customers is not the way. I guess some young people believe that overcharging is the way. You can't build a sustainable business this way. There will always be someone hungrier than you who will charge less. You cannot form a cartel to establish a price monopoly. Especially in India where the supply outstrips the demand many times over. In west maybe possible to overcharge and get away with it. Westerners are anyways less prudent when it comes to money. They value people over money. In India, it is the reverse. Money is considered more important. 

The way forward is optimization and value. You fuck the hell out if it. Squeeze water from stone. Few people can do it because it requires knowledge of multiple fields. Here comes the edge. 

Engineers are best poised to build the best businesses.