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> “In many ways, Airlift raised the bar of ambition for Pakistani startups in a big way. Our teams at Airlift redefined the standard of execution, strategy, bui
by xani_ 4y ago
> “In many ways, Airlift raised the bar of ambition for Pakistani startups in a big way. Our teams at Airlift redefined the standard of execution, strategy, building a world-class culture, developing a cutting-edge product, raising sizable fundraising rounds.”
Are they literally bragging about burning money in style ?
If what article was describing is correct about their operation
> In his recent conversation with Rest of World in August, Gul remained firm that the company’s failures were not the company’s fault. “Airlift’s demise was ultimately the result of an unsuccessful fundraise amidst a global recession — while there are broad critiques on things like operations and supply chain, the reality is that Airlift had particularly strong operation and financial metrics, something that was reflected in our quarterly shareholder updates.”
That's either investor lie or he's in denial
- bArray 4y ago> Are they literally bragging about burning money in style ? Yeah, not something I would be saying after a failed company. You would say something that shows you reflected on this and realized your mistake. > That's either investor lie or he's in denial An obvious lie... That should be a red flag for future investors. Why would investors pull out of a good investment? He's either spending money at a rate that doesn't translate to growth or he's in denial. > [..] there are broad critiques on things like operations and supply chain [..] I wouldn't cast these issues 'broad', they were very real and important show-stoppers. I would be surprised if there was actually supply chain issues for food, considering so many other shops in Pakistan clearly have figured it out. Probably the biggest issue was 'operations', i.e. spending money like it's going out of fashion.
- xani_ 4y agoYeah the article pretty much pointed out that they weren't spending enough attention on making sure everything works efficiently. Like the fact relatively long expiry product like bottles of Coke still managed to expire (that kind of beverages normally last months to years) looks like some massively bad planning.
- baybal2 4y ago> That's either investor lie or he's in denial That will set a very bad precedent. It was a miracle Pakistan's funding ecosystem got so far. India has n-times bigger IT industry, but is not n-times bigger on funding.