Business Development Manager

Consultant

Product Manager

Welcome to News Discussion's Private Community

OfBusiness employees have companies that trade with OfBusiness, leading to revenue overcounting - MorningContext

Growth Manager

OfBusiness employees have companies that trade with OfBusiness, leading to revenue overcounting - MorningContext- Grapevine

Only startup that's making meaningful impact with less or no PR

600 Crore Profit not Revenue | What!

Welcome to Indian Startups's Private Community

Hi Folks, Can you please let me know which startsups or organisation we should not join 

Reason may be:

No Mission and Vision
Pathetic HR Policies
Burning investors money with 0 Revenue product
Random Hiring and Layoffs
Other reason you can mention
Dirty Politics
Dirty Appraisals and Promotions
If i missed anything mention in comments 

So that our geeks will not join pathetic place and save atleast current job

Do not join list

UX/UI Designer

Welcome to Confessions's Private Community

I was into a founder’s office. Working closely with the leadership team of a funded Agri-tech startup (Which shall strictly remain anon in this post)

Does it happen to others the same way as it did to me?

I was one of the first FOs in the org and I was trying to figure what is up with this startup.

About 21 days in to company, I was helping a co-founder with a report that has to go out to investors.

I open up the metrics dashboard to enter numbers when he said “he knew the figures by heart”, so we began entering metrics like GMV and others. These were 5x of my range.

I said we should just double check ? He said there are factors in the formula that I have not considered at all and I finish the report as per the numbers he gave me.

Confused, I later dared to ask the lead PM how are we computing GMV. And told him about my dilemma to tell the founder we need to just double check his calculations.
Bless my naiveté.

He had a nervous smile and told me we report numbers that keep the startup exciting and afloat. We will catch up very soon with them.

The next morning, the founder also took me for a meeting and explained how doing this is important for everyone in the company to succeed.

I was very scared but lived in an autopilot of nervousness for 6 months. Part-took in it while being scared of going to prison myself.

I felt a terrible dread in my stomach in every interaction with with the admin and CA teams since in my first interaction I came across what I sensed to be a big fake bill. Was I blind to miss everyone in the office get a new chair the last month?

I never asked doubts on the money numbers the CA team gave me. But had reasons to doubt it basis other business data I had access to.

Everyone seemed to be on the same kind of auto pilot, good people who had never done anything wrong before this as far as I knew. Everyone considered leaving the culture and toxicity every week. 

The day I left, I had the email of the investors of the company since I’d emailed them countless decks and reports. I really wanted to drop an anonymous email revealing what I knew to them but I was afraid of the following repercussions to my career and I let the matter go.

Reporting fake GMV and more

Looks like you had a ‘Haat’ time working there

Recruiter

Investment Associate

Welcome to Office Gossip's Private Community

Absolutely sad to see the state of the startups, most of them.
I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates.
Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them.
The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry.
Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad.

But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing !
Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. 

Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ?
Then scaling down, isse acha, scale slowly.
The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment.

Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out.
Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect.

As founders, let's do better, nahi ?

Rant or is it ?

Founder

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

The Startup that you had an offer from but did not join, and then it went big? (Let's take a word from VCs, how they like to use anti portfolio lists on their sites - cos they got an opportunity to enter but missed)

What's your anti-startup

Makes you wonder what models do analysts and  business people use in such companies.

https://thearcweb.com/article/licious-closes-fy23-flat-revenue-improved-margins-targets-1200-crore-5mmhCXiY1OtIdsMY

Licious's revenue projection was off by a...mere 50%. As a result 100 ppl lose their jobs.

Project Manager

Welcome to Business Roles's Private Community

Hey everyone. 

Thought I could do an AMA. A bit about me - have 4 years of work experience and graduated from a non engineering college. Was at a startup before (from Series B to Series D) before becoming a VC

Personally look at consumer and B2B investments here 

Happy to answer any questions around life as a junior VC, startup ecosystem, career growth etc.

AMA: I work at a large VC Fund focusing on early stage investments

This is the biggest problem with VC ecosystem 4 yoe kids taking calls on experienced, hardworking founders. Dude first learn the game then invest , judge people playing the game. VCs know nothing about how to run startups. Unless they have been entrepreneurs themselves. IMO It's a colossal waste of talent to become a VC for young PPL.

Software Engineer

Has the B2B marketplace bubble burst?

Program Manager

Welcome to Software Engineers's Private Community

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people.

Like whats happening man!!! Is the company dumb or what?

LinkedIn Layoffs India

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

OfBusiness employees have companies that trade with OfBusiness, leading to revenue overcounting - MorningContext

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