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1/ This is the story of how we built something from nothing, scaled it up with a lot of user love, and 18 months later, shut everything down. Not all startups shut down because they run out of money. Sometimes, what made sense once just stops making sense. This is THAT story.
In my Bangalore trip recently, many founders asked me -how long will the current flavor of the season last where folks are looking for profitability over growth. My answer to that is:
Build a sustainable business for the long term - that will be of value in every season.
In person meetings with clear agenda and points to discuss and ending with clear action items result in quickest progress. Imagine discussing 50/50 points on email - threads will never end.
Meetings are a bug. Today, we shipped a fix to this bug at @Shopify.
To start 2023, we're cancelling all Shopify meetings with more than two people. Let's give people back their maker time. Companies are for builders. Not managers.
https://forbes.com/sites/jenamcgregor/2023/01/03/shopify-is-canceling-all-meetings-with-more-than-two-people-from-workers-calendars-and-urging-few-to-be-added-back…
Explore the future of Fintech @UpasanaTaku, Chairperson, Co-Founder & COO, @MobiKwik at #IGFUAE. Hear what she has to say. One day to go!
Register now: https://indiaglobalforum.com/dubai-2022/BookNow.html…
We all seem to believe we get smarter by reading something new or meeting new people. Maybe, just maybe we should try spending time with ourselves first.
The biggest con man since Madoff just admitted that woke is a virtue-signaling game “where we say all the right shibboleths and so everyone likes us.” How stupid does the NYT feel now?
The late stage CEO role is deeply misunderstood by founders.
That’s why you see founder CEOs “solving problems” with engineers, “obsessing over product”, or compulsively reorganizing their company.
Unfortunately there’s only a tiny contingent of people who can guide you.
Harsh Truth : Its very difficult (impossible nearly) to change a startup DNA overnight. This includes everyone who thinks they can become profitable quickly by cutting cost.
#WATCH | Mumbai: Two jawans of the Crime Wing of RPF (Railway Protection Force) saved the lives of a woman and her child who fell off a moving local train due to the jostling of passengers after they boarded it at Mankhurd Railway Station.
(Source: RPF)
Thought for today : If only as a country we focused as much on physical infrastructure as we are investing in digital infrastructure, India would grow faster with a significant improvement in quality of life.
If people stop taking loans, companies that make goods can’t sell enough to make profits that will move their stock price upwards, not to mention the entire financial sector will decline. Real economy wouldn’t grow without credit.
What Gen Z & even millennials don't think about enough is that the retirement age is dropping fast due to technological progress & life expectancy going up due to medical progress.
In 20 years, retirement could be at 50 & life expectancy at 80. How do you fund the 30 years? 1/5
Coatue wrote a white paper on ‘fintech’
summary …
‘we overpaid on hype and low margin businesses because we had the fever chasing other growth VC’s and now we did some research and so here it is … own a bank and crypto has potential ‘
Banning of ola/Uber/rapido auto is a sign that governments are not ready for free market pricing of flag down transportation. Autos get their licenses to ferry people at govt dictated rates so it's not a free market for them at all by design.