[rohitoasis]

This may not directly related to Startup Shenanigans. But i wanted to share this video desperately with this forum and this thread seemed the closest to where i could share.

https://www.youtube.com/watch?v=UKag4LVAEdU

A nice discussion between startup founders with Kishore Biyani might interest a few in this forum. If this warrants movement to some other thread. Please do help move it to a more appropriate one.

[speedmiester]

More trouble for Byju's.
A lawsuit has been filed in US for loan default.
After couple of down rounds, this is the latest blow to edtech giant.

Byju’s Alpha accused of hiding $500 million from lenders

[Samurai]

In addition to financial shenanigans, many funded startups are also forced to undergo things that gatekeepers of industry think are essential to run a business. DEI and ESG are such examples on management side. Then we have Agile/SAFe/Scrum on IT side.

Here are couple industry leaders poking a hole in DEI.

https://www.youtube.com/watch?v=EiNlgkWb6RM

[green_ninja]

New startup, same old shyster and his shenanigans!

https://inc42.com/features/rahul-yad...ork-implosion/

[v1p3r]

Originally Posted by green_ninja

New startup, same old shyster and his shenanigans!

Irony is that the latest investor who's now losing money keeps harping about governance and how founders should be paid low salaries. I guess that spiel is only valid for non-famous founders, while the fund does zero diligence for 'famous' ones.

[thanixravindran]

Byju's saga continues. Terms lender is using 'predatory' tactics and misses payment. Goes on to sue the lender.

Irony just died a thousand deaths!!!

https://m.economictimes.com/tech/tec.../100781321.cms

[ashis89]

^^
I read this in the paper today and remembered the saying "Ulta chor kotwal ko daante" (The thief scolds the police).

I wonder if the terms of the loan did allow for accelerated payments.

[Samurai]

https://zeenews.india.com/india/how-...s-2622073.html

How Two University Dropouts Who Have Amassed A Net Worth Of Over Rs 1,000 Crore In Just Two Years Became A Household Name

Did they? All they amassed so far is 100s of crores of losses to some VCs. Valuation is just a figment of imagination, until someone actually buys at that price.

These valuation based net worth is like synthetic CDO or crypto. These people finance their operations using investment funds and claim they are creating wealth. It doesn't take a genius to provide some service at ₹100 while spending ₹200. Or may be it does... it is usually beyond the imagination of common folks.

[SedateGuy]

Start anything, get the money inside. Will see later what is to be done.

Does anyone recall what was the original business model of Zomato? And PayTM? To name a couple.

[fordday]

Originally Posted by thanixravindran

Byju's saga continues. Terms lender is using 'predatory' tactics and misses payment. Goes on to sue the lender.

Another interesting crisp writeup on this Byju's saga.

Byju’s is sued by its lenders, then sues its lenders

[sagarpadaki]

Originally Posted by fordday

Another interesting crisp writeup on this Byju's saga.

Byju’s is sued by its lenders, then sues its lenders

With all this, I wonder how Byju Raveendran is able to sleep peacefully at night. Heck, I cannot sleep peacefully if I owe someone a couple of hundred bucks and here millions of dollars are on a merry-go-round with multiple stakeholders. Phew!

[green_ninja]

Originally Posted by sagarpadaki

With all this, I wonder how Byju Raveendran is able to sleep peacefully at night. Heck, I cannot sleep peacefully if I owe someone a couple of hundred bucks and here millions of dollars are on a merry-go-round with multiple stakeholders. Phew!

He probably sleeps like a baby given that he and his wife have amassed hundreds if not thousands of crores in personal wealth through salary, bonuses and stake sales at humongous valuations. All this liability is probably of the company that he is a director of. I don't think any of his personal wealth is at stake here.

[am1m]

Originally Posted by sagarpadaki

With all this, I wonder how Byju Raveendran is able to sleep peacefully at night.

Forget billion-dollar startups, seen this first-hand and up-close even in a far smaller/less-successful startup. Like politicians, the founder gets surrounded by a coterie of people who agree with everything he says and keep telling him how great he is, what a visionary he is. Eventually, they begin to believe that they cannot do anything wrong and whatever rules they bend are being done in the interests of the greater good of the company and the great burden they are shouldering of creating-jobs/wealth.

That's where a strong board of directors/second-line professional management team should come in. Or alternatively, old friends who knew you when you were just you and can give you a good kick in the backside!

But how many of us will willingly seek out that kind of honest criticism?

[v1p3r]

Latest startup to implode is a boner-pill seller where the founders raised 200+ cr and then faked invoices, and sent money to their relatives. https://economictimes.indiatimes.com.../101114685.cms

Having had some unfortunate interactions with one of the founders, I'm not surprised at all. Once again, goes to show the 'diligence' that funds do - in this case one founder is an ex-employee of their largest investor.

[speedmiester]

More trouble for world's "most valued" Edtech company.


Deloitte, three board members quit Indian edtech giant Byju’s