In the Blusmart crisis, Shark Tank’s Aman Gupta gave the launch of a “reality check”: “Jo Bhi Karo, Dil Se Karo. par …’
Commercial entertainment TV show, Shark Tank India Judge and ship co-founder Aman Gupta stressed in his social media post about LinkedIn that the Blusmart crisis is a reality check for others in the startup ecosystem.
“The situation at Blusmart is tough. It’s sad for everyone involved. But it’s also a much-needed reality check for everyone in our ecosystem.”
Angel investors also sympathize with investors who have lost money, unemployed employees, and customers who have lost taxi services. He said the incident also “sinks” the ecosystem.
“But not only that, it also hides trust in the ecosystem. You will hear now: ‘Yaad Hai Blusmart Ke Saath Kya Hua tha?!”’
“The harm we can’t afford”
Aman Gupta also highlighted how global multinationals (MNCs) collapsed, and even if one might say the incident would cause damage that Indian startups could not afford, the key factor was that the system rebounded after the problem.
“And, some people might say it’s a damage that we can’t afford. But let’s amplify. Even global multinationals collapse. What’s important is the way we rebound as a country and ecosystem,” he said.
He also demonstrated confidence in the Indian startup ecosystem and emphasized how the company’s compliance and ethical factors are not only another tick box, but also the “foundation” of the system.
“The Indian startup ecosystem is resilient. We will always be stronger. This time we will, too. For all founders, that’s the biggest gain: compliance and ethics are not ticked boxes. They are the foundation,” said the Shark Tank Indian Judge.
“Not cool mission”
Aman Gupta also said that so-called “not that cool tasks”, such as maintaining a clean book, conducting timely audits and maintaining transparency are the only ways to keep a business sustainable.
“Becoming a CA, I’ve seen this: clean books, timely audits, transparent reporting. All the so-called “not that cool tasks” make the business sustainable. AurBachpan Mein parents Ne Sikhaya ne Sikhaya tha -Jo Bhi Karo, Dil Se Karo, Dil Se Karo. ParGalat Na Karo is also suitable for business,” he said.
He urged startup founders to urge startup founders not only in finance but other aspects of their businesses such as corporate culture, as well as operations and responsibility.
“EQ, IQ & GQ (Government) SAB’s important Hotel Hai. I hope more founders are driving real due diligence not only financially but culturally, operations and accountability. Because in the end, your eyesight is important. Your growth is important. But how do you build the problem,” he said.
“Let’s use it to remind us: not only fast, but also speed, but timely,” said Aman Gupta.
Blusmart Crisis
Several passengers in the Delhi NCR, Bangalore and Mumbai cities were unable to book taxis through the ride-hailing app Blusmart. The company began closing its business on Wednesday, April 16 after several attempts to raise new capital for the business.
In addition, the company’s promoter Anmol Singh Jaggi is currently facing fraud and forgery allegations from the Securities and Exchange Commission of India (SEBI).
Market regulators have prohibited brothers involved in fraudulent activities from maintaining any Gensol position or securities transactions until further notice.
“The promoter is running a listed company that appears to be a proprietary company. The company’s funds are sent to affiliates and used for unrelated expenses, as if the company’s funds are from the promoter’s Pig Bank.”
