[rant]- What’s up with startups? Sudden layoffs in literally last working week of this year

Year is ending in another 1 month. A rough year for many startups winding off Which startups do you think will wind off in next, 6 months? Which startup should be saved and get VC fundings for continuing operations as Dhandha mode

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 ?

I don't know why everyone is making a big deal out of layoffs. Even the ones who laid off are not that concerned than the ones who comment. Laid off employees literally get free money upwards of 10 lakhs in many cases of senior developers who are laid off from top tech startups. Companies pay severance equal to 3-6 months salary of laid off employees. Some even offer other benefits as well. I personally know a couple of Devs who got around ~9-10L in severance pay. So, yeah if there are layoffs happening in funded tech startups or leading tech companies, considering their pay range, laid off employees get handsome severance pay including employee benefits

Layoffs are happening at Sharechat starting today. Each division is being asked to join a call and they are being announced. First call with product org - around 50 folks were impacted

It's gonna be long thread. I have been working as lead engineer in a early stage startup since last one year. Founder (20 years exp in Product Management) raised some money from friends & family to start it and but company was running negative from February and he put his money to pay employees salary for March & April and We were hoping for some investment in April but that didn't happen. During May & June, he was looking for funding more aggressively and even after having a good background in academics & top tech work experience in product management, no investor got convinced to invest in it. Our salary for March & April was delayed from actual payroll date by 7 days and 21 days respectively and We were expecting our May salary to be delayed by same period and our company was about to complete one year in first week of July so we had some one year benefits associated as well. But Boom, he invited everyone on call and tells that company will shutting it's operation from next day itself. And he will help us find our new jobs and he doesn't any clarity on pending salary. Although we knew, our company is not in good shape so salary cut or something might be happening soon but didn't expect this. Now, we have to find other jobs and also be unemployed while searching for job and also get exploited by other companies because we will be desperate to find jobs to pay our bills. I think, he did this just before 5-6 days of our one year anniversary just because he doesn't get legally bound to pay our one year benefits. I for sure, not gonna join any early stage in future who doesn't have enough funding. Just wanted to put this story out of my mind. Open for any suggestions you have for me Thank you

There are news that massive layoffs are coming in Paytm. HR and Business Heads have been given targets - average 30% reduction expected across all teams. #bravenewworld

Startup ecosystem seems to be going through a tough time recently. with less money infused in the market, and all the big player laying off employees, companies stooping so low in the name of cutting down the cost and news about some companies treating their employees like shit. Still my optimistic ass believes that it can’t all be that bad, right? and things might get better. Here’s my question to the community, what are some companies you would like to work for and why(apart from money 😉)?

Link: https://inc42.com/buzz/unacademy-fires-another-250-employees-to-turn-profitable/

The negativity brigade is out in full force against Unacademy lately. Honestly watching this relentless media agenda against us is like watching a bad tv show. As someone who's part of the team, I want to set the record straight. First off, Gaurav Munjal is the smartest, visionary entrepreneur in the country. He's basically a genius. Like a legend, truly amazing! My observation is that people who are throwing a shade have never built a startup themselves or have never led anything more complex than a lemonade stand. They are simply jealous of Gaurav's awesome success. Meanwhile, legends like Bhavish and BeerBiceps are cheering Gaurav on. Coincidence? I think not! Oh and layoffs! Every company does it – it's just business 101. Times are tough - stop whining and smell the coffee. This isn't a reason to target Gaurav. I see a lot of snowflake work-lifers who only want to work from 9 to 9 for 5 days. We did indulge you, didn't we? If you really don't want to be "laid off", what is stopping you from doing great work? Even better - why don't you start your own company and keep this stupid to 9-9-5 policy and "not lay off" these work-lifers who are a burden on your company? Let's focus on constructive support and recognize the efforts of those truly making a difference.