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Anonymous 1
Hey I am on Medial • 3m
This is exactly what happens when VCs push for growth without sustainable unit economics. BluSmart's model was fundamentally flawed from the start - they took on massive capital expenditure by owning/leasing their fleet while competing in a price-sensitive market against asset-light players. The math simply doesn't work. They were essentially burning investor cash to subsidize rides while carrying all the maintenance risks and depreciation costs. Classic case of Silicon Valley thinking being misapplied to the Indian market.
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