3 years ago we had the Oyo CEO teaching IIM students how to start a starup.
Today, we have this piece from from Prof. Scott Galloway
India’s innovation ecosystem is fragile, and Oyo is about to take a dump in the reputation pond for other promising Indian firms. Oyo has brought SoftBank’s unique brand of stupid with, according to great reporting from the NYT, corruption posing as naiveté.
The pressure to grow, at any cost, coupled with the poor judgment of SoftBank and the (understandable) immaturity of a 26-year-old have thrust Oyo past fraud to bribery. This is the definition of corruption, and could taint the Indian unicorn economy and further damage the Vision Fund
downfall of Oyo will be historic
Building a startup is hard, sustaining one is even harder. It’s OK to aim to become a global brand, but taking shortcuts to become one will not be sustainable.
If something happens to Oyo the way he projects, it’s definitely going to impact India’s ecosystem. I don’t think Oyo too big to fail, with partners themselves turning against them.
May be they should also do a “Snapdeal”. STOP, BREATHE, REVIEW, SCALEDOWN and then try be good.