PeppyMochi

Apna is heading for a cliff!

PeppyMochi · 2023-04-28T17:01:27.562905+05:30

A thread: 1. Over the last 2 months, the Chief Business Officer, Head of Marketing, and Head of Enterprise have been laid off. 2. CEO has surrounded himself with 3-4 Yes Men/Women who have no expertise in the respective domains that they are currently looking at (being called as Founder’s Office staff – but are basically playing the role of glorified postmen/women) 3. Rest of the senior leadership has been demoted for all practical purposes and all business decisions are taken in weekend meetings between the CEO, and his close friend (who is also acting as the CBO currently) 4. Work culture has become so toxic that employees across levels are either looking out or jumping ship or even resigning without offers in hand 5. There is a ton of investor pressure on the CEO to start showing tangible revenue – classic case of raising money at bloated valuations with no business model in place

A thread:

Over the last 2 months, the Chief Business Officer, Head of Marketing, and Head of Enterprise have been laid off.
CEO has surrounded himself with 3-4 Yes Men/Women who have no expertise in the respective domains that they are currently looking at (being called as Founder’s Office staff – but are basically playing the role of glorified postmen/women)
Rest of the senior leadership has been demoted for all practical purposes and all business decisions are taken in weekend meetings between the CEO, and his close friend (who is also acting as the CBO currently)
Work culture has become so toxic that employees across levels are either looking out or jumping ship or even resigning without offers in hand
There is a ton of investor pressure on the CEO to start showing tangible revenue – classic case of raising money at bloated valuations with no business model in place

22mo ago

Talking product sense with Aditi

9 min AI interview5 questions

DerpyBoba

Ola Electric22mo

What is apna btw?

JumpyWaffle

Grapevine22mo

A startup in the blue collar hiring space

DerpyBoba

Ola Electric22mo

Can you pls elaborate more

SillyDonut

TCS22mo

Ceo should dial byju raveendran, he is PhD in valuation over Value

BouncyBoba

CricPe22mo

Have heard that CEO lives in USA and building for blue collar Bharat. seems completely disconnected with reality both metaphorically and literally.

SquishyQuokka

Stealth22mo

CEO is chilling in USA trying to find a way to junk the company. his way of working, make money while others weep

QuirkyPotato

Stealth22mo

This classic reason why startup fail and most employees don't trust leaders in US

CosmicNoodle

Stealth22mo

Apna will rise from the ashes and prove everyone wrong.

The only market that has depth in India is hiring

SquishyMochi

Urban Company22mo

Yes, but no one wants to pay. Definitely the blue collar folks won't pay.
Where do you source supply?

CosmicNoodle

Stealth22mo

Majority of India is employed in between blue collar and white collar. SMBs in India have a hard time hiring employees as they don’t have access to talent which leads to them remaining SMBs due to lack of talent.

That layer is where the opportunity lies in India. As unorganised sector moves towards organised, this opportunity is bound to increase manifold.