Virgio shuts down a year into raising $37Mn

Get a tag(college/company) -> Open a startup -> Get Funding (even seed stage is fine) -> Burn money -> sell or shut down startup.

Fastest way to accumulate wealth in today's time.

How oh how did they manage to burn 37 mil in less than a year?

Virgio died a Virgin

What did Virgin do exactly ? Not clear it even had a product yet. Then where’s the learning to even determine it needs to shut down ? And if there’s no learning yet and no thesis either , then why the fcuk did they raise 37M ? And which idiotic VC led these rounds ?

Tells us that previous success doesn't translate to future success no matter how experienced you are. Just today was talking with a bunch of dudes about Anil Ambani and how he went from the richest dudes in the country to bankrupt.
Luck and getting cheated in business plays a major role in your success

They were trying to copy shein but didnt realise indian manufacturing ecosystem is diff than china in terms of way lower adoption of tech making backward integration not possible unless you go ops heavy which is not cost effective. If it would have been possible, fashinza, zilingo etc historically wont have to be so ops heavy

I think the wording is confusing. He has announced a "pivot" to a sustainable fashion model now.

My friend used to work here.. He quit along with most(read almost 80%) of the tech team in may.. Reasons being Toxic work env.. 6 days a week work and micro management by CEO..

Pivot not shutdown

Thank fuck the founder didn't meet me when I was interviewing