Writing on behalf of my friend who was associated with this company
The actor Sonam Kapoor is married into a billionaire family. The husband runs an "ultra premium" clothing brand for elite, which just burns cash since launch but continues to exist. The parent company funds this brand for it's lavish existence.
Though apparently, It is the best team one can be assigned. Too many meetings with celebs rather than actual work, top glamour events to attend, internal or client parties every other day, coolest co workers (all young group)
P.S. Outsiders call it Bahane se chal raha brand (iykyk 😂)
There will be some loopholes to show the loss and save tax 💁🏻♂️
The only benefit for a loss making business purely for tax purpose is if you show fake payments and move the money into other companies you control.
Otherwise if you lose money on a business which is legitimate, you are eligible to get a tax benefit. There is nothing wrong if its the latter and is just smart tax planning.
Salaried folks like ourselves have forged rent agreements and receipts for years. So I would not be too quick to assume.
This is really an interesting take, the overall profit will be reduced and hence less tax. While the CEO family gets richer
Why y’all acting this is r/bollyblindsandgossip instead of grapevine?
Bhane and Vegnonveg being the brands :)
Well the rich have their own system to keep getting richer economically as well as socially
Hear this. My firm had an entire event based on a new buzz topic (hint hint - it's Sam Altman related) because the CEO's betta was doing some final year projects and he wanted some ideas and he was sitting in the front row of the hall with every other top executive of the firm. This is the norm everywhere. Money can get you things and into places most people can't
Later the whole event was nothing more than a waste of time coz the prizes was merely a pat on the back.
Burning cash since existence. What has the Indian startup ecosystem been doing? FCF is a term that doesn't even exist at scale in our ecosystem.
Another consumer tech startup bites the dust :/
https://entrackr.com/2023/10/ex-myntra-ceos-startup-virgio-shuts-down-after-raising-37-mn/
Get a tag(college/company) -> Open a startup -> Get Funding (even seed stage is fine) -> Burn money -> sell or shut d...
Virgio died a Virgin
My first startup had a smoking zone where there was gramophone looking art piece where people used to dump their ashes. Later someone told me that it’s a Bluetooth speaker and no one cared to put it back after the party that happened two...
I'll go first.
Narcissistic AF, named a whole product after his name!
Joining startups to generate "wealth". And in the process dealing with a highly toxic work environment
engineering
Buying white shoes
