I have been speaking about the rotten #startup #financing ecosystem (mainly in India but generally, everywhere so) for some time now, not just here but on other fora across the social media, including LinkedIn and Twitter as well as my personal blog. However, I was pooh-poohed and ostracised, called delusional and other pejoratives, talked down patronisingly, and accused of having an agenda, sour grapes, lacking intellect, or all three.
And now, as news trickles in about #SoftBank's thesis being flawed, and as other #VC funds who kept taking leads and lessons from Mr.Son as well as idolising him and his team saying incredulously that they had always known, suddenly everyone is an expert with the benefit of hindsight. What can I say?
And this is not just about that one fund. Mark my words, the entire VC community is rotten to the core (as is the startup scene, no thanks to some shitty entrepreneurs and even shittier startup ideas too. No one is a saint here) and it will come down like a house of cards, crapping on everyone from the stock markets, to general public, to banks, to governments, to currencies, to non-connected businesses when the shit hits the fan. As it will. Inevitably. It is but a matter of time.
P.S: I am not the only one tolling the bell. People far smarter than me, far more professionally qualified, with far more expertise and access to data, and far better understanding & inside knowledge of the system have been saying this for some time. It is just that we choose to ignore them till after the fact, which is when everyone becomes an expert. And no one learns. Sadly. Because the cycle repeats again. And again.
Shareable link to my writing on the subject: https://kedargadgil.blogspot.com/2019/11/what-ails-indian-startup-private.html