thread is based on this https://boringmoney.in/p/zee-merge-with-sony-shirpur

Product Manager

Ashneer showed it how people lood VC money. 
  
 Must be happening commonly across many companies. We just got to know

One of the reasons why its merger with Sony is called off

Welcome to News Discussion's Private Community

blueringtail on Twitter

Good twitter thread on how Zee stole money from banks

Good twitter thread on how Zee stole money from banks- Grapevine

- Zee Entertainment and Sony's Culver Max reach settlement agreement
- Companies to withdraw claims from Singapore arbitration center
- $90 million termination fee and damage claims relinquished
- Zee shares close 11% higher at Rs 150.90 after announcement
- Merger would have created $10 billion media company with 70+ TV channels 

 Source: [Economic Times](https://economictimes.indiatimes.com/industry/media/entertainment/zee-enters-into-settlement-agreement-with-sony-india/articleshow/112833151.cms)

Zee and Sony India Settle Disputes, Terminate $10 Billion Merger Deal

Journalist

Sony abandons its merger with Zee and wants to get paid for it

Sony abandoned its merger with Zee. Didn't know there were so many elements to it

Link - https://www.moneycontrol.com/news/business/zee-trims-50-workforce-at-tech-and-innovation-centre-in-bengaluru-to-aid-cost-cutting-12544611.html

Zee - Fallout of Failed Merger with Sony

Corporate Strategist

Should have shorted it , missed a golden opportunity 🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️

Welcome to Indian Startups's Private Community

Move comes two months after a deal to be acquired by PhonePe fell through

Zest Money's Lizzie Chapman, other co-founders resign after PhonePe deal fails

ZestMoney Co-Founders Resign

Real Estate

Welcome to Office Gossip's Private Community

https://www.livemint.com/companies/news/disney-reliance-sign-non-binding-agreement-for-india-media-operations-merger-says-report-11703493136683.html

What will happen to hotstar?

Disney star- viacom18 merger... What to expect?

Strategy & Operations

Post phonepe declined to acquire Zest, following ate the scenarios at Zest : 

1. 33% employees laid off
2. 33% employees were hired at Phonepe
3. 33% employees have jobs at Zest but they are thinking Zest to be a sinking ship so might move away.

ZestMoney layoff scenario

Growth Manager

Do you guys agree with the list? Anymore candidates

Dead 11

Oyo was the only Indian startup who had defined a  India specific problem, had a solution and had money to scale. What went wrong? What a pity. 
  
 In comparison Airbnb made it big...

Software Engineer

Project Manager

Anyone has any inside scoop on what’s going on at Zest Money? Why did the founders resign en-mass?

Zest Money?

Founder

In final stages of  PM role interview. Info would really help.
Needed info on cashfree in terms of the following -
1. Financially, funding crunch ( heard some layoffs are coming in tech and product).
2. Product culture
3. Product vision, quality, (heard that they just mimic what Razorpay does)

Fire away folks.

How is Cashfree doing ?

Abhi 2 din pehle 1 saal ka recharge karwaya

Reliance thinks they have cutting-edge technology, but will soon find out it’s Akamai CDN ka magic

Lawyer

Backend Engineer

- Nearly two years after Elon Musk's acquisition, X's business is still struggling to recover from the financial strain it fell into under his ownership.
- The $13 billion loan Musk used to buy Twitter has become the worst merger-finance deal for banks since the 2008-09 financial crisis, with banks unable to offload the debt without major losses.
- The loans have remained 'hung' on banks' balance sheets, leading to significant write-downs and impacting bank profits and compensation for merger departments.
- Despite hefty interest payments from the X loans, the banks face regulatory scrutiny and have scaled back on providing capital for other merger-finance deals.
- The banks are caught in a dilemma: they want to maintain good relations with Musk for future business opportunities but are struggling with the financial fallout from the Twitter deal. 

 Source: [WSJ](https://www.wsj.com/tech/elon-musks-twitter-takeover-is-now-the-worst-buyout-for-banks-since-the-financial-crisis-3f4272cb?st=4b6hee8h35xa9dv&reflink=desktopwebshare_permalink)

Elon Musk's Twitter Takeover Becomes a Financial Burden for Banks

Most startup’s are not founded with great altruistic purpose to elevate human condition. Most startup’s are founded where founders know they can make money or earn status points through little schemes of leveraging their network of investors. 

Most of them know they can earn more income by just raising some money from friends or VCs. Build a small tech tool and burn through money trying to acquire and retain customers. All this while hiring 100s of employees selling false narratives. 

What bugs me the most isn’t the thousands of people getting laid off, salary corrections or bankruptcies, it is the mafiaesque organisation built to “create wealth for some by exploitation of countless others” 

Most startup founders use brute force of content and media coupled with ignorance of people to perpetuate this cycle. 

It’s the virtue signalling and holier than thou attitude of most founders and VCs justifying all their mindless brutality in the name of strategy and growth which destroys aspirations and outcomes for the many. It’s more relevant in India because of large scale ignorance about money and large scale trust on educated individuals with the right college tags! 

If you have seen sopranos, most founders are like Anthony soprano - summarily violent, manipulative and ruthless behaviour primarily driven by selfish greed but juxtaposed with moments of vulnerability and struggle justifying his action with a facade of providing for his family. 

*Replace Anthony soprano with your founder/ceo name* 


1. VSS was playing fast and lose with rbi regulations resulting in stock crash and layoffs 
2. Byju’s systematically destroyed his own company and wealth of his employees just to ensure he retains majority control 
3. Ashneer G and his wife manipulated company books
4. Zerodha founders cheated in chess match or lied about their system failures which lost a lot of capital

PS: I refer to most founders because there are few exceptions who don’t fit into this narrative.

Startup founders are mafia bosses!

Incredibly myopic and pessimistic view. I'd suggest trying to be a founder yourself once before judging them. 
  
 Not every startup needs to elevate human condition, plus you still need money to make that happen. 
  
 Most founders don't actually earn much compared to jobs they could've had in companies. All you see is the flashy idiots like Kunal Shah and Byju. Not the bootstrapper shutting down their 10th project for xyz reasons. Because no one likes talking about their failures, and no one listens to people who fail. Only those who succeed.  
  
 You have a problem with the human condition buddy, not founders. Humans can be real shitty given the right kind of conditions. Everyone's fallible, even you.  
  
 If you think you can be a better founder than some of the names you mentioned, then you're only indulging in holier than thou behaviour, which you allegedly hate about founders.  
  
 I do agree with some of the things you said, but much of it is way off.

Generalist

Consultant

https://entrackr.com/2023/09/rario-burns-through-120-mn-in-15-months-future-looks-uncertain/

Tell me no corruption was involved in this ;)

120 million USD gone in 15 months

Burnt through 60-70 crores per month (average) with 70 employees. Put the best combustion engines to shame.

Software Developer

Heard Zee5 has done a massive layoff and also other Zee companies doing layoffs. Better watch out everyone. 

Also HDFC have done a hiring freeze. Kotak is on a hiring freeze except for engineering department. ICICI no news about hiring. 

Also reading that salaries will not be that high going forward.

Zee 5 lay offs and hiring freeze in banks

I remember one of the founders who had quit posting about OCEN and ONDC. Also, they're  hiring for new venture.
Any insider info?

Did Zestmoney founders pull the plug to fund new startup?

Do you all think they can come out of this?

Indian company that started as a WhatsApp group is currently going through a turbulent phase and is unable to pay salaries.

Good twitter thread on how Zee stole money from banks

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