Internet Startup stories

What are these threads for?

The current startup scene is a bunch of IIT IIM folks who flash their degrees and get crores of rupees just so that they can flush it down on needless spending, but make it so big that investors put more money worried that their initial investment would be flushed down the drain. Others got bright ideas, quit their companies abroad, use their business model in India (which is not a bad thing unless its a ripoff) using investor's money- thinking that if their former employers set up shop in India by purchasing them first and having an early retirement. Unfortunately, when companies come here they 'lol you wot m8?' and setup their own operations without buying any companies. Investors go 'lulwutwtf' and worried that their initial money will be a loss, therefore they put moar money. Fearing that buggers responsible for the mess in the first place will be removed from the board of directors, they do not highlight nationwide profit/loss- rather they only highlight a particular city where they earn a minor profit from. This is probably ignoring the fact that nobody knows how user's data is kept and encrypted. But hey, free money!!!!! So much that government wants more. They reduce the corporate tax, increase the service tax and then increase in the form of cess and make a lion. But hey! owners brag about company valuation, which is ironic since company valuation is usually over-exaggerated and we already know about it since Kingfisher's property was evaluated that way, but can't even sell an office building at Santacruz east at a starting auction price of 150 crore. Heck nobody even came! 

So if you have a business plan, first get the basics right with your own money or don't do it at all.  Why? Because once upon a time, one of the tinyowl angry employees wrote on a whiteboard "dont trust the iitians" which was then covered in Medianama who originally covered the story because employees were not getting paid, the owner was confined to the office and they got some local MLA.