Startups in Loss, Founders Living Lavish Life
There are lot of instances where the stratups are in loss but the founders have been living their lavish lifestyle and that gets funded by the funding of the the startup. Similarly there was a case of Rahul Yadav who wad in loss for over Rs 200 Cr but he lived a lavish lifestyle. And it is not only the Rahul Yadav but there are many where they start the startup and thus get the funding and eventually live the lavish lifestyle.
PC: Pixabay.com
For them they have to work for previous 6 month to 1 year to get the minimum product and then get the seed funding and then start taking enormous salary from it and start living that lifestyle. And the startup fails or get into deep losses. This story has been true for many founders. This used to be be rich quick scheme.
You do not have to hustle for several years in a job to earn and spend lavishly. When you become a founder and get a seed funding you can do that from then and there. And it is not like they will stop there, once the startup fails, they will start another one and then the cycle continues. This is the reason we are seeing a lot of entrepreneurs in the market waiting for the funding.
Some are genuine and some are for enjoying the lavish lifestyle. Because of the people like Rahul Yadav, the genuine people does not get funding and the best product doesn't come in the market. Otherwise we would have seen a lot of great products in the market competing with each other and giving the customers best benefits.
But there are quite a great entrepreneurs too, who have given everything to their startups and thus continue hustling to make it a grand company. Some works and some not and that's the part and parcel of the life too.
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Their lavish lifestyle would not be sustainable. Even if those entrepreneurs really want to do something and start their business later, they will not get support. Many entrepreneurs really work hard to run and grow their businesses. They need more attention from investors.
Hi @codingdefined
It does not only happen in Startups, generally people with founder figure have been living their luxurious lifestyle, and this somehow hits the credibility of this kind of companies.
Best regards, be well.
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