Lack of VC funding reflects a reset in the Indian tech scene

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Hello reader,

I once asked an ex-colleague what his dream job or career path was.

His reply? “I want to be a CEO.”

That felt extremely wrongheaded to me, especially since he didn’t have an answer when I asked what kind of company he wanted to found or lead. This was like the career version of form over function – it sounded like he just wanted the glamor and prestige that comes with the title without thinking about how he could help others or solve problems.

I think that acting without a sound motivation or intention in place only leads to pointless pivot after pointless pivot, causing harm to others along the way. Just think about all the companies that expanded furiously just because funding was cheap and easy to get and have had to conduct layoffs in the last couple of years. It is downright irresponsible.

This may explain both the recent reticence of VCs to invest in Indian companies as well as a potential bounceback in the coming years as more firms focus on achieving profitability and sustainability. Check out today’s premium article for the details.

I guess money eventually talks – I just wish it would reply faster instead of only thinking up the right response hours after the party, in the shower.

Today we look at:

• Why VCs are holding off investing in Indian companies for now
• The Singapore-based AI platform that makes the tech easy to use for laypeople
• Other newsy highlights such as Carsome hitting positive EBITDA for the first time and Oyo’s latest fundraising plans

Premium summary

Life is just cycle after cycle

Image credit: Timmy Loen

It’s a tale as old as time. Work hard to build something from scratch; the good times come and hubris takes over; a crash and burn; then we rebuild again.

That seems to be happening in India’s tech scene. The more things change, the more they stay the same, and all that.

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