Sigh
High incentive to bloat metrics, suck up venture capital and edge out rivals.
The smart founders know how to not to let it catch up with them.
So true.. I don't know how it is not illegal... With no action against them, we can see similar bloating up of numbers in future
Sequoia seems to put extraordinary pressure on founders and companies? Or maybe they lack proper process or due diligence. Could be that they are more into non useful metrics than ARR and cash in the bank
Strange thing is why are Sequoia backed startups facing this only in the past 1 year or more. Bharat Pe, Trell, Zilingo and now Go Mechanic.How can such a big Fund make such a mistake again and again about not looking back on the finances after funding the startup.
After GoMechanic, now Mojocare is said to cook its books. Is this a trend? and which other companies are showing similar signs?
https://themorningcontext.com/internet/gomechanic-lays-off-70-of-its-workforce
Read this here, would be helpful to know if any of you heard similar things
Curious to know what exactly they did to inflate the revenue and lower the cost. It's easily trackly by reconciling cash flow with pnl. This must be known to their sr. Employees and Investors.
VC here. Doing this for fun. Don't take all views seriously.
