Shaadi.com founder Anupam Mittal on Thursday reacted to OpenAI CEO Sam Altman's 2023 remark that competing with OpenAI was “totally hopeless”, pointing to the success of China’s AI model DeepSeek as proof that challengers can emerge. "‘It is completely hopeless to compete with us’ Sam Altman's words to India in 2023. While India hasn’t done it yet, am glad somebody made him less smug. Apna time bhi aayega," Mittal wrote on X.
Mittal’s comments come as DeepSeek, developed by a Chinese startup, has stunned the global AI community, matching the performance of some of OpenAI’s top models and surpassing ChatGPT on the iOS App Store. The moment has rekindled debate over Altman’s dismissive stance on AI startups outside Silicon Valley.
Mittal's reaction comes after the resurfacing of a 2023 video in which Sam Altman dismissed India’s AI potential at an ET Now summit. At the event, Altman was asked whether an Indian team with a $10 million budget could build something substantial. His response was blunt: "Look, the way this works is, we’re gonna tell you it’s totally hopeless to compete with us on training foundation models, you shouldn’t try — and it’s your job to try anyway." He added, "I think it is pretty hopeless, but..."
Altman’s statement drew backlash at the time, but with DeepSeek’s recent success, the debate has resurfaced. The Chinese AI model, built at a fraction of OpenAI’s cost, has proven that challengers can emerge despite limited access to advanced semiconductors.
DeepSeek’s R1 model, developed for just $6 million, has matched OpenAI’s O1 model, despite OpenAI and Microsoft investing tens of billions of dollars into AI development.
On Wednesday, Zerodha founder and CEO Nithin Kamath suggested that Jugaad mentality was failing India's AI ambitions. He said in the 1960s-1970s, India and China had roughly the same per capita GDP. "They started their reforms in the 1980s, and by 1990, they had overtaken our per capita GDP," Kamath said in a post on X. "Say what you will about the differences in our worldviews and economic models, but their scientific and technological progress is undeniable across disciplines—DeepSeek is just the latest example."
Kamath stated that the problem that has always plagued India is short-termism. "Problems are typically addressed through a patchwork or the Jugaad mentality. This is true when it comes to business, politics, regulatory approaches, etc. Many problems that require focused long-term thinking instead get band-aid fixes."