This is why I aggressively discourage using online grocery delivery. They sell things at negative gross margins on the back of “funding“, in process unfairly killing small businesses which are the lifeblood of our country.
They're not good businesses, they're not good people. Their contribution to the society is net negative, just like their margins. And VCs should be ashamed of themselves to have supported their SCAM.
This video is another reminder of what real “Bharat“ looks like. We're so off from the so called “projections“ that consultants, startups and VCs happily agreed to (and propagated), that it makes you question if those guys are even from the same planet. India's GDP Per Capita is INR 1,76,000. That's itself very, very poor. Globally, we are at 128th rank.
And then, the kicker is that just Delhi and Mumbai make up for 40% of tax collections of the entire country. Then come Bangalore and Kolkata, which make 50% of their states' GDP. So without being Einstein, you can imagine how poor we are as soon as we move beyond the top 8 cities.
Despite these unambiguous realities, I don't know what the gentlemen with money thought when they valued a company like Sharechat at $5.5 Billion. Unbelievable. And the fact that they poured money (and are still pouring money) into something as pointless as 10 Minute Grocery Delivery. Sad...
They're not good businesses, they're not good people. Their contribution to the society is net negative, just like their margins. And VCs should be ashamed of themselves to have supported their SCAM.
This video is another reminder of what real “Bharat“ looks like. We're so off from the so called “projections“ that consultants, startups and VCs happily agreed to (and propagated), that it makes you question if those guys are even from the same planet. India's GDP Per Capita is INR 1,76,000. That's itself very, very poor. Globally, we are at 128th rank.
And then, the kicker is that just Delhi and Mumbai make up for 40% of tax collections of the entire country. Then come Bangalore and Kolkata, which make 50% of their states' GDP. So without being Einstein, you can imagine how poor we are as soon as we move beyond the top 8 cities.
Despite these unambiguous realities, I don't know what the gentlemen with money thought when they valued a company like Sharechat at $5.5 Billion. Unbelievable. And the fact that they poured money (and are still pouring money) into something as pointless as 10 Minute Grocery Delivery. Sad...
