For the people saying this would not be possible in the US VC centered startup ecosystem: the existence of this isn’t really telling us much about how other companies should be run.
Keep in mind that US based, VC funded companies are competing against other similar companies. You either move quickly or die, the competition is intense and so are the financial rewards. Engineer tenure averages 2-3 years. All of that factors in to the specific dynamics of the startup ecosystem.
Very much This. With the first-mover advantage, lack of VC interest in the Indian Fi space, the compliance load for any upstarts has led Zerodha to enjoy a competitive free landscape of the "Commission free mutual funds" and "Low cost stock trading".
That is changing rapidly with the huge inflow of VC money into the financial sector in the last 5 years with countless startups fueled by VC money and incumbents upping their offering had begun to capture / steel away their market.
They would be pressured into growing to compete with them sooner if not already.
Keep in mind that US based, VC funded companies are competing against other similar companies. You either move quickly or die, the competition is intense and so are the financial rewards. Engineer tenure averages 2-3 years. All of that factors in to the specific dynamics of the startup ecosystem.