Annual Report FY23-24: Nirah Webhooks

As I mentioned in last year's annual report, I left Setu to work on Nirah webhooks. As a part of Setu, I had the unique experience of building Reverse Penny Drop product whose business metrics depended on webhooks. I knew the complexities and requirements of webhooks to deliver four 9s of reliability, and I could help companies save time on this. I have stopped working on that. I didn't feel any market pull for this idea. I seem to have been seduced by an "easy idea" and realized the perils of pursuing an easy idea through experience. The product that I was building was fundamentally incremental. Almost all companies sending webhooks were used to doing it independently and had, over time, realized the importance of observability, reliability, and security. The very best of them had already implemented the things I was offering. There was not much room to make it a game-changing product. Many of them didn't implement HMAC (though some did), many didn't have observability dashboards for

As I mentioned in last year's annual report, I left Setu to work on Nirah webhooks. As a part of Setu, I had the unique experience of building Reverse Penny Drop product whose business metrics depended on webhooks. I knew the complexities and requirements of webhooks to deliver four 9s of reliability, and I could help companies save time on this. I have stopped working on that. I didn't feel any market pull for this idea. I seem to have been seduced by an "easy idea" and realized the perils of pursuing an easy idea through experience. The product that I was building was fundamentally increment