Layoffs in India
Recently we saw layoffs in LIDO, OkCredit, and now Trell is going to layoff 40-50% employees soon due to less funding. What would be the reason behind that ? What can we do to help the victims π’? #layoff #severance #OkCredit #LIDO #Trell
You yourself told the reason to be less funding, there is uncertainty because of inflation and war scene.
When economies face external issues and inflation investors switch from growth mode to capital preservation thus investment dries up for all these businesses run by teens who have no experience of building a dhandha or profitability and their sole objective was to go from next round to next round. It only affects not so sound businesses. The days of unlimited free funding is now over. This happens because these investors core growth portfolios like stocks and maybe core large companies are also not having that much of a growth due to uncertainty thus they are not willing to now take these extreme risks.
If trell is saying it is laying off because of less funding, God knows to whom VCs paid $45m last year then. Glad i rejected both okcredit and trell last year
You dodged a bullet. The only startups I actually liked in India were Directi group. Zeta/Media.net et al. They were never in a race to artificially pump and be a unicorn and always built a cash flow heavy for profit business. Most businesses today lack that.
I've worked at Media.net and I can second that. They have always built a cash flow heavy for profit business. Will be now joining Google in a month, looking forward to it π
Typical high reward, high risk companies..