Every large consumer tech business has had to blitzscale early on (to build enough concentration of sellers/riders/delivery people etc.) and hence had to burn through a lot of capital.
Flipkart has losses of $4Bn in it's lifetime (16 years) and currently does $20+ Bn GMV and $5-6Bn of revenues in a year now.
They are on path to profits, and we've seen global models get there; so while it's still a test to be seen -> I don't think this necessarily is a negative picture
Yes, but Fraud detected in Sequoia backed startups like ByjuMojocare,GoMechanic , BharatPe , Zilingo ,Trell, Bikayi etc. clearly signifies that rot is much deeper. And I personally know many founder friends indulging in wrong practices to inflate revenue... With no funding in near sight, many of these startups who inflated their metrics will struggle.
2021 created 44 new unicorns. No new unicorn has been created in 2023.
Massive valuations were Zero interest rate phenomenon & aftershocks of Byju's will be very deep.
India is not that big a market as VC thought it to
be..
I have been saying since 2018 that Oyo will go down and.... Somehow they still survive
Thanks 'murica for the cheap products and high salaries. But alas, lavda lut, ab underground honay ka samay agaya hai.