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 ?
Our company spent 1 cr on a marketing agency zero results to show pathetic
are u a founder of the company or an employee ? did u authorise it or just sad that someone did and it was horrible ?
I was the head of engineering I knew all this because the cpfounder who hired this agency vanished and I pretty close to the founder themselves
What space do you have your startup in? And what would you suggest are things to look out for before joining a startup? Looking out for one.
We shut down a few months ago. It was in edtech. Shut it down for reasons more concerning than just the business.
I would suggest you speak to founders and try and asses their clarity, of how they want to build it, how earnest is the intention, long term vs short term mindset, truly. Not easy to guess. Also, depends on your motivations. if your motivation is a quick bump in the next 2-3 years, and decently funded startup, doing decent work, you can learn more in 2 years than anywhere else. Even super early stage with less money but clear direction, can lead you much ahead in 18 months than many other opportunities. So a mixed bag !
Got it. Thanks!
If you are talking about naming one sector, my bet is on B2B e-commerce. Look at the annual results of Of business. 15000+ cr topline and profit of 400 cr. Overall, taking Indian SMEs global is a great market to be in due to China+1 narrative.
Other promising startups in this space: Zetwerk, Fashinza and many other in early stages.
That is 1 percent of the revenue. Not to be celebrate at a grand level. Please have a close look on the balance sheet on MCA. You will understand the game.
i was reading the same about ofbusiness yesterday and was super inspired and was calculating that i have a long term view. But will my next idea have as much potential. Was also wodnering what to focus on, topline or profits. there could be ways to make similar profits at lower GMV's also.
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