First PayTM bites dust. Listed at 2000, and now hovering around 950.
I was really disappointed seeing such loss making startups being celebrated. Something in me doesn’t allow me to accept these loss makers.
The founders have to sell their soul to the investors. Dance to their tunes. Take the wrong unethical moves.
This brings me to Facebook. Initially to gain traction Facebook did all the wrong moves.
You upload a photo – by default it is on to the world – thereby getting more people to login to snoop on others.
Once they got the critical mass they started selling the users data to Advertisers – and over night ( ok over a period of years ) – FB became one of the key go to places for advertisers to grab attention.
Then FB started selling to the politicians – to peddle their philosophies. Donald Trump is one – who rode the Social Network wave – encouraging conspiracy theories and other nonsense.
FB kept minting money all along.
FB swooped and took over all competitors – Whatsapp, Instagram.
Data. Data. Data.
Was it ethical. Questionable. But they built a trillion dollar business on this idea.
And now FB bit dust – their stock has tanked. Partly because of Apple turning in the privacy screws, partly because of their growth tanking – thanks to TikTok and also might be Social media fatigue.
I hope the investment thesis of these rich PEs change. Can they not use their investment money for good causes.
Instead of funding more and more not so essential ideas – like 10 minute grocery delivery for instance.
Instead can’t the investors fund startups which is making the world a happy cleaner place to live in.
Are there enough problems? Yes.
Are there enough problems that when solved can give good returns? Yes.
Are there enough problems where humans are willing to spend their entire lifetime? Yes.
Are investors to be blamed? Yes and No.
Are consumers to be blamed? Yes and No. When consumers do not have a good alternative, yes they will go for the evil startup – So in this case I will say no. But if there is a better alternative – and still they chose to go with the evil one ( because it is free ) – yes consumers are to be blamed.
This brings me to another question. How much money is enough?
1 Crore?
An open heart surgery will cost some 10Lakhs lets say.
A stomach cancer treatment + care etc. will cost – 20 Lakhs?
A vacation in Japan lets say – 10Lakhs?
Still there is enough money to spare. Of course you should buy a 3BHK – there should be a permanent address where no one can evict you.
A car – yes. A bike – yes.
Beyond all this – amassing crores of rupees is really not necessary. Unless the crores are spent on worthy startups and causes.
Am I pissed off seeing the kind of advises doled out in Shark Tank India – yes. Am I pissed off seeing the kind of drama that is happening in BharatPe kind of startups – yes.
It distracts us from the real goal of creating a better loving world.
Enough I tell. Enough of startups which are there to just push Ads – and not create any value.
Amazon – yes. Like the convenience of ordering stuff I dont find in the neighbourhood.
Zomato/Swiggy – not so much. I can always walk and order stuff from my neighbourhood.
BBInstant – yes. When we are short of stuff I can go and pick from our Apartment Entrance.
