Between BYJUs and Krutrim, lies a reality.
No, it isn't [M]oney
Byjus is raising $200 million at $225 million valuation (rights issue) - i.e. at $25mn pre-money val.
And on the other hand, 2-months old Krutrim AI (with no product/progress to show) is a 🦄
That is, we are seeing the downfall of a company which was all over the news till 2022 (and was considered as India’s most successful startup). And now, another one has occupied that slot with it being called a moonshot and what not!
If there is one thing that we all miss in the startup (echo-chamber), it is the M world.
M se MARKET
The market is always right,
The market is always the king (and the queen).
The market is what it is.
The market is right. Irrespective of what you wanted it to be.
Market has no patience for one’s cool shit.
VCs and founders can cook what'er (meth) they want to - but the market doesn't give a damn.
Your customers have a job to accomplish, a life to live - not to buy your cool shit. It is upto you (and your product) whether you fit-in or you get kicked out.
If you are still surviving as a founder/maker - your world lies in between these two examples of Byjus and Krutrim, because the market exists and is always right.
Is Krutrim even in the market? Even their beta is 2 months away.. not sure what this says about the market, but it definitely says something about investors i.e. they still havent learnt their lessons..