One uncecesssary purchase away from bankruptcy

One uncecesssary purchase away from bankruptcy- Grapevine

Welcome to Indian Startups's Private Community

From hero to zero! Byju’s inching towards bankruptcy

Product Manager

Welcome to Personal Finance's Private Community

I have been pursuing some aspirational products like Apple Watch SE, Airpods Pro 2, PS5 etc. since a long time. I go to the Amazon page and add it to cart but then my conscience questions me as to is it worth spending so much on it? I earn decently and live in BLR but still I dont fully understand to give my mind a valid reason for purchasing a 40k Watch that shows time, some metrics and some automation. Also 20k for listening music, 50k for playing games.

It feels as if is it sane to spend much on these personal material stuff? How do you folks look at this while making purchases?

How do you justify expensive purchases to yourself?

For some ps5 is not about price, it's about their dream to buy since college days (many ppl I know bought it) and same goes for other stuff as well.

Digital Marketer

Software Developer

Please suggest a way to get out. I am stuck in a financial situation of extreme debt of about 3000000 with a family monthly salary of 130k and I have a toddler too. Need a quick way to get money to get out of this situation.

Stuck in financial debt loop of credit cards.

Software Analyst

Anyone who lives in a TE property or has evaluated them? 

Why are they priced so high? Is the experience worth it?

Review of Total Environment properties in Bangalore

Welcome to News Discussion's Private Community

- 1K Kirana, a kirana tech startup backed by Info Edge, is on the brink of bankruptcy and is exploring a distress sale to stay afloat.
- The startup, which once had over 1,000 employees, has drastically reduced its workforce to just 30, and its website and apps are non-functional.
- Despite raising over $32 million in funding, 1K Kirana's aggressive expansion and high operational costs have led to financial instability and mass layoffs.
- The company is in talks with ShopKirana for a potential acquisition, but the deal's details remain unclear.
- The kirana tech sector, once booming during the pandemic, is now facing consolidation and competition from larger B2B ecommerce players, making survival challenging for smaller startups like 1K Kirana. 

 Source: Inc42

1K Kirana Faces Bankruptcy and Distress Sale Amid Operational Struggles

Journalist

Tupperware has claimed to succumb to mounting financial pressures and declining demand for its once-iconic food storage solutions

Tupperware, A Nostalgic Staple Of Our Kitchens, Files For Bankruptcy

Why do almost all apps offer 'buy now, pay later' facilities these days? What if the majority of people don't pay later?

Wtf is Buy now, pay later?

Consultant

Hello folks, 
Due to some financial crunch, I'm planning to get a credit card but I've heard from people about the scary stories of credit cards. Can any body who owns credit card can give his experience or any tips what card or how to use the card or any other general advice. 

I just want to use cc for online purchases and maybe in emergency situations. 

Thank you in advance.

Mindful credit card usage

Software Engineer

I’ve noticed different people have different ways to approach their financial planning. 
Hoping to learn from each other and perhaps help others who read as well.

What is one personal finance habit that has changed your life?

If you 'want' to buy something, wait day or two (I wait a week) to know if my heart is still stuck at it. Generally (mostly) it is fleeting craving and I end up not buying.  
  
 This has kept my expenses very minimum

Founder’s Office

Investment giant Prosus has written down the valuation of edtech giant Byju's to below $3 billion, marking a steep drop from the $22 billion valuation the Prosus has marked down the valuation of Byju's, India's most valuable startup, to below $3 billion.

Prosus cuts valuation of Byju's, India's most valuable startup, to below $3 billion | TechCrunch

Byju’s valuation reduced from $22Bn to sub $3Bn by Prosus

Corporate Strategist

Welcome to Product Managers's Private Community

GoTo is going to launch a BNPL product with TikTok soon. As a PM what are some things that you would do for something like this to succeed?

To PMs: What do you think about BNPL?

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.

1. Working in consumer finance.
2. Love personal finance and helping people out with it.
3. Have published 10,000+ pieces of financial content in the mainstream media.
4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 
5. Lately been appearing on TV regularly for personal finance discussions.
6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned.
7. My unrealised aspiration is travel and I'm working on it now.

No, I'm not selling anything. No commissions, no referral links, no finfluencing. 

Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :)

Ask me anything.

Let's talk money habits.

- China's manufacturing sector is grappling with severe overcapacity, leading to a surge in bankruptcies, particularly in the electric vehicle (EV), solar, and semiconductor industries.
- Hengchi, an EV maker owned by Evergrande, recently announced the bankruptcy of two subsidiaries, highlighting the intense competition and financial struggles within the industry.
- The National Bureau of Statistics reported that 30% of industrial firms were loss-making by the end of June, with a 44% increase in the number of loss-making companies in the first half of the year.
- Local governments, heavily indebted and facing fiscal constraints, are becoming less able to support struggling firms, exacerbating the financial woes of many manufacturers.
- The Chinese government is encouraging industry consolidation to filter out weak producers, but this process is expected to be painful and challenging, with many companies looking to trim capacity rather than acquire more. 

 Source: [Economist](https://www.economist.com/business/2024/08/08/chinas-manufacturers-are-going-broke)

China’s Manufacturers Face Rising Bankruptcies Amid Overcapacity

Impulse purchase and regret go hand in hand. But when was it the opposite for you?

What's an impulse purchase you made but never regretted?

Private Equity

Solution Architect

Spotify is late to the party, but they are letting go 17% which is huge compared to others in one go. 
be careful with similar type of industry. pocket fm, Kuku fm perhaps?

Spotify layoff - 17% workforce

17% is huge, especially this late in the doom cycle  
 It feels like Spotify must be losing market share heavily against Apple Music, YT Music, etc.  
  
 The bundling of different subscriptions always wins over just separate standalone subscriptions

Lawyer

YourStory is India’s biggest and definitive platform for startups and entrepreneurs related stories

Investors Say “India se Paisa Nikaal Lo” : Vijay Shekhar Sharma

Many companies will go bankrupt between January 2024 and June 2024 : Paytm CEO Vijay Shekhar Sharma

Distrust predictions; even economists err. Avoid armchair experts and celebrity founders' opinions.

Firecrackers ban on diwali

Welcome to Software Engineers's Private Community

So my sibling is about to graduate with a degree in Computer Science from a T2 college in a few months and wants to now do MS in the US because of three reasons: 

1. Low levels of violence against women(Sexual Assault) [IMPORTANT!!]
2. Want to do innovative work in the US instead of working on copycat products in India
3. Ambition of living in the US long term because of free-er culture

But my parents have flat out refused to fund the education or even help her with a loan due to regressive mentality (nahi jaana baahar, 2-3 saal kaam karo aur shaadi karo chup chaap)

She has accepted a job offer for now and will make 14L/year. What are her options? Should she drop the idea of MS abroad?

What to do if your parents refused to fund your education(MS/MBA) abroad?

Two options -  
  
 1. As I read, she will making 14L, save aggressively and self fund herself to MS. Places like UoCincinati or Texas univs aren’t that costly. She might able to score a diversity scholarship/waiver as well. 
  
 2. Start looking for Germany based unis. They have minimal uni fee, she just need to maintain the living expenses.  
  
 My 2 cents - Working for 2-3 years before MS will bring more clarity and increase the RoI of investments.

Welcome to Fintech India's Private Community

I have a cousin who works at a private equity firm earning 80,000 per month in Mumbai. As soon as he started earning, he believed he was a legit guy, but as he started investing, he started losing money, as the majority of his suggestions were flops, and he even got credit card debts to invest in stocks and spent 2L repaying his loans and just faced a layoff, ending up laid off. Literally, he has zero savings and a bank account, and he has credit card bills due next week as he invested in bitcoin based on. Literally, advice. What can he do?

Cousin lost 70k to a finflunecer

Data Analyst

Feedback letter from employee to Founders, CEO & CTO

Heartwarming message from ex-Byjus employee to founders.

For details just reply to this email. I will email an excel sheet of all of your failures 
 😂Lmao, that was🔥

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