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You can't raise cash to blow it up: Ronnie Screwvala on layoffs at unicorns

In a Q&A, the upGrad chief said it is a 'lame excuse' for founders for tech unicorns to blame the situation on factors like the war in Europe and funding crunch

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Ronnie Screwvala | unicorn companies | startups in India

Peerzada Abrar  |  Bengaluru 

Ronnie Screwvala, upGrad chief
Ronnie Screwvala, upGrad chief.

At a time a when a growing list of top tech unicorns are laying-off employees, especially in the edtech sector, serial entrepreneur and upGrad chairperson Ronnie Screwvala, said that it is a ‘lame excuse’ for founders to blame the situation on the macro environment like the war in Europe, funding crunch and on efforts like conserving cash. Screwvala, who pioneered cable television in India in the 1980s and then built a unicorn that was acquired by Walt Disney Co., is attending the World Economic Forum’s annual meeting in the Swiss ski resort of Davos. In an interview with Peerzada Abrar, Screwvala said that the companies which have done layoffs were not supposed to have raised cash, to blow it up, but to build rock-solid businesses. Edited excerpts:

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First Published: Tue, May 24 2022. 21:06 IST
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