How Paytm founder Vijay Shekhar Sharma is an exception to the rule

The fastidious Sage of Omaha apparently diluted his rigorous due diligence procedures to invest in the business of one of India's most influential e-commerce entrepreneurs

When Warren Buffett-owned Berkshire Hathaway said earlier this week that it will invest an undisclosed amount in One97 Communications Ltd, which owns Paytm, two things drew attention. One, that this was a rare deal for the world's best-known investor who typically avoids internet firms; and two, the investment was committed despite the fact that Paytm, though India's largest payment services provider, has reported mounting losses. It logged total consolidated losses of Rs 12.6 billion in the year ended March 31, 2017, on a revenue of Rs 8.28 billion. So, this was an endorsement for India's start-up ecosystem but it also