Quaterly layoffs are pretty common here, clueless founders and tech is a joke

I don't know if they will survive or not but these business are actually solving the problem (pain point of customer)  
  
 People should support this type of business rather than Zepto, fampay and others bullshit company

Software Engineer

They weren’t solving anything, they were just using investors money to fill their pockets.

Product Head

Pretty obvious considering the real estate business is ruthless.

Also @michealscott, can we do smt about duplicate posts, it really splits the discussion by a lot.

Thoughts on how to sell to investors in the name of tech

Welcome to Indian Startups's Private Community

For many years, coliving has masqueraded as a technology business. Several startups and venture investors have learnt the hard way that it is merely a paying guest accommodation business.

Stanza and the coliving business struggle to survive

Another startup about to crash

Another startup about to crash- Grapevine

Welcome to News Discussion's Private Community

What could they do to undo this downward spiral?

How long before Byjus runs out of funds?

Product Manager

It was a pretty tense situation at the office. 

Nearly all engineering managers were laid off, most of the SDE-2s who were not the core engineering team and a lot of SDE-1s who had just joined this year. Even the interns were let go today.

Pretty scary scenario today. Just putting out an update. Apparently it was done to please the investors for the next series of funding. Can't say for sure though.

CityMall conducted layoffs today.

DevOps Engineer

Hey guys,

I am currently struggling with my startup and it’s product launch. Having talked to most of the VCs and getting ghosted, what should I do?

I have built the product and it’s ready to be launched, have a small team but I am a solo founder. 

Applied to YC and even got referral from 2-3 YC founders, still no interview. Looking for $500k.

Let me know if anyone knows anyone ❤️

Funding for my startup

Founder

Another startup that could have been something had it not been for the bull market and Tiger investing unnecessarily. Over $66Mn raised, and now it's over.

Koo is shutting down

Copy cats. App should have been called Poo

Data Scientist

Welcome to Software Engineers's Private Community

Any apps to invest directly in startups? Trustworthy apps

Startup Investments

Being an investor in equity markets, i was aware of the fact that US market will crash as the free money by fed draws back. I obviously was not able to link this up with the funding dry-ness.

I still expect a founder to be aware of these economic events. I am curious how could the management decide to go for hiring employees only to lay them off a year later. 

If you are a founder, would be happy to know the other side of the story.

What triggered layoffs ?

Let me explain in detail. 
 There are two parts to it and can be broken down basis PnL 
 1. Revenues : Sudden jump in tech( social media, e-commerce, ad tech, fintech, etc) plus supporting industries (chipmakers, laptop / device manufacturer) and the general economy with QE money  
 This impacted forecasts as most firms forecast AOPs basis historically trend (which clearly was an abberation) - this lead to higher HC estimates and rampant and quick hiring  
 Variable costs: CAC, customer support, sales incentive all spiked up as 1. Everyone was putting money (inc bidding price for key words) and 2. Huge customer inflow due to covid (edtech, e-commerce) that required support  
 Fixed costs: While office space / rents remained steady or dropped as % of revenue. This was offseted by fixed tech (software, hardware, people) costs and other costs like (legal, HR, Business, Marketing, supply chain, etc.) the talent was expensive to source plus their need was instant as you already had customer to be served  
 All of this lead to rampant hiring, inflated CTC, rosy forecasts, etc.  
 everyone had turned a blind eye to inflation implications (as for the past 30 Y no one saw a shooting inflation - hence the key decisions makers had now experience & idea about it) - till Dec’21 even FED said inflation is transatory. 
 It was the Ukraine invasion that opened people eyes. Oil went up, food prices went up, UK Europe saw an energy crisis etc 
 This made all the rosy forecast mentioned above duller as 1. Demand was expected to reduce due to higher cost of living 2. Capital became scarce as funding drired 3. Cost of capital (WACC) became expensive as hurdle rate climbed (which is rate of return for bond)  
 Management and investor panicked as they have limited partners (LP) to answer and quess who are these (big pension funds) so people’s pension money had come into startups which were not showing signs of exit for investors. 
 All in all - it is a pain we all have to bare for being exuberant in 2021-2022:

Growth Manager

Welcome to Personal Finance's Private Community

I got into a startup (informal) and invested my savings and also took loan from friends and family.

It would take a couple of years to clear up but I am happy thwt I didn't let go.of the opportunity and the learnings also realised the following.
1.I enjoyed the thrill 
2.When something has to go wrong,It will
3.My priorities changed (family,health,mental peace)
4.I am enjoying what I have more than ever and not cribbing about what I don't have.

I am about to touch 40 and lose all savings(instead loans on the head) but I have never felt so calm ;)

Anyone with a similar life altering experience 😉

My hustle mindset backfired and Lost all,but am happy

Investor

Hi People,I have been working as a springboot developer for a year now. Looking for insights from experienced individuals here.
 
What are the possible paths for someone like me to try out. I see I can learn devops or  javascript frameworks and become a full stack developer.
What are some other possibilities?
 
Thanks

Career path of a Java Springboot developer

Senior Associate

Has anyone heard of this company / app called Stockgro. It claims to have 8 million users. Is this true?

Heard about Stockgro ?

Fresher, work at an edTech startup (seed). Had 3L as ESOPS, standard vesting. Resigning after one year, have two options:

a) Surrender the ESOPS and add 75k to my F&F
b) Retain ESOPS and wait for liquidity events

Startup is in EdTech and creator domain, raised seed fund(again) recently.

Very confused. What to do? Which things to consider?

Retain or surrender ESOPS(75k) when resigning

Product Engineer

Hello guys,
I would want to know what is the benefit of getting ESOPs in an early stage startup?
The startup has a great team and working on a promising product. 
I have been offered a package with somewhat lower fixed component and somewhat higher ESOPs. Need insightful pointers here. TIA :)

Value of ESOPs in early stage startups?

The ESOP is a bit of a blind bet.  
  
 It's paper money that can get you a windfall if all goes to plan and execution, solution, pricing, market readiness amongst other things, all line up over the next few years.  
  
 I wouldn't take a pay cut in lieu of ESOPs.  Keep the real money real and the paper money as an outside bet.

Sales Manager

Hi All, I am thinking of starting up in a space that in very passionate about and feel I have a unique insight. I also have a cofounder who I know from a long time from college when we studied comp science

What are some common pitfalls to avoid at the early stage of an startup?

Startup pitfalls to avoid

Business Development Manager

In this economic condition should you join a pre seed startup?
Let's assume founders have good experience in the startup ecosystem have a working product and some paid customers, but still figuring out what the product will be after a year or so
And the product at core uses ai

Can't tell the whole thing as its pretty small company right now and don't want to discuss something about them publicly

Should you join a Pre Seed startup

VC with 5+ yrs of exp - AMA

Community Manager

Painful to see so many startups run out of money/ shut down. Is your company doing good?

Founders are not shitposting on the socials, so that’s good I think 😅

Would you guys consider joining a startup with only 3-4 people in the office? I’m a recent graduate and got an opportunity to work with a team of 4 

however i’m not sure if i should join because i’ve always wanted to work at bigger organisations and get that corporate feeling and i im also an introvert and hate being “seen/perceived” (iykwim) and that’s the case with smaller teams 

but again looking at the job market rn im scared id end up employed 

what to do?

Joining a startup

Marketing Associate

Hey guys, 

With a heavy heart and after 10-11 months of constant work I am shutting my startup down. Thanks for all the love and support.

What happened was I was able to build the product but couldn't raise enough funds to get the required gov. licenses to go live. I did build a demo mode to let people test out what the app was supposed to be and got more than 250+ sign ups.

For everyone who signed up and where asking me for the invite code sorry but please do test out what it was supposed to be. Use invite code- QWERTYUIOP to access the demo mode. All data will be deleted with in the end of this month so no worries.

Thanks again for all the love and support and let's see what I can build tomorrow.

Invite Code - QWERTYUIOP

Manage all your finances in one place, from tracking spends, budgeting & checking your bank balances all in one.

Pocket - Do More With your money

Shutting it down

Something as a founder I have decided over the years.
Everywhere around you, you hear stories of founders who worked 16-18 hours a day, made their team work as hard, were assholes, shouted at people, made people cry.

You start to think, that's an absolute must to succeed. 
I don't think it is. For every 2-3 founders that are toxic, there's the one good natured founder who succeeds. They're rare, but they do exist. 

1) I've been in many toxic jobs. I've hated them, and had some form of anxiety. To become successful, if I subject people through the same, what was all of this for? 
2) I'm not saying I'll keep it too chill at my startup. I actually expect people to work harder than typical corporates, but only if they have good ESOPs in the early days, a chance to actually learn and do well (and that should be pre-aligned) 
3) But what about the mission? Don't you want to make sure your mission becomes true, whatever you're chasing actually reaches 1000s/millions of people? Sure. But it solves for many vacations for me, and maybe better lives for my kids, and perhaps some problem gets solved. But what if it doesn't. It cannot come at the cost of miserable lives for my team. I'll never be proud of my work if that happens. 

We all have a decision. Why just be a successful founder? Why not have a higher aim... be a successful non toxic founder? You'd be truly 1 in a million then. 

That's how I'll always see it, I hope.

Note: Okay with failing, will not create Toxic Culture

Your true test will come when investor pressure arrives at your doorstep.

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