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What is your takeaway from Indian Startups being exposed for their malpractices?
Last 2 weeks have been rife with such news.
16mo ago
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Last 2 weeks have been rife with such news.
There is no fraud here.. thats my point.. he oversold an idea.. founder had a lavish life style beacuse the rules allowed him to.. unless the funding rules had explicitly stated what he can buy or not buy, its not fraud..
As for as users are concerned.. unless product doesnt work or doesnt work as promised then its fraud... in the recent case of a certain edtech.. they sold their courses as it a get way to learn.. it is not fraud unless they had said buying this course will get you a seat in an IiT..
@Qwerty2398 you’re talking about B. I am talking about M.
Fraud or no fraud.. either way am happy... greedy investors got screwed... although o assume they would have scammed too.. founders may have made money.. but they lost respect,atleast within their social circles... unfortunately some of the public got screwed but i guess thier sacrifice has been necessary for many others enlightenment...
There is no unethical start up founder... he sold an idea.. investors paid for it.. its business.. imagine you arr buying a plastic bucket from a street hawker, he will say lot of things like the bucket is unbreakable ... it will last foever.. etc.. you negotiate and pay for it.. you bring it home next day it will break. Does this mean he cheated?..
I was speaking to an ex-colleague and he mentioned how my previous employer, a lending startup, has been intentionally over-reporting disbursal numbers and under-reporting delinquencies in portfolio.
They conveniently chuck the NBFC par...
"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadersh...
Largest shareholder saying this publicly, I wonder if there is any way of recovering from this point
Apart from a few good ones here rest are toxic-ologists 🥲. Startup ecosystem is rosy from outside only (folks who kn...
I am a 6 yrs experienced Software developer and part of a mid-stage startup. This is my third job; I have been working here for 3 years. I was involved here as one of the core engineers at the start in developing the overall platform, Af...
