Startup funding 39 billion se gir kar 11 billion ho gayi, kya poora boom fake tha?

Indian startup funding 2021 me 39 billion dollar par pahunchi. 39 billion. Wo unicorn ka saal tha. Har hafte ek naya startup billion dollar valuation par pahunch raha tha. Founders patrikaon ke cover par the. Investors pitch deck wali kisi bhi cheez par paisa phenk rahe the. Aur phir hakikat aa gayi. 2024 tak funding gir kar sirf 11 billion dollar rah gayi. 72 percent ki giravat. Unicorn party adhikarik taur par khatam. Jo startup arbon me value wale the wo ab aadhi valuation par paisa utha rahe hain ya band ho rahe hain. Down rounds norm ho gaye hain. Jo investors 48 ghante me check likhte the wo ab due diligence me 6 mahine lete hain. Kya badla? Free money ka daur khatam ho gaya. Byaj duniya bhar me badhi. Investors ko achanak yaad aaya ki companies ko munafa banana chahiye, sirf user badhana kafi nahi. Aur jab unhone andar dekha toh kya paya? Zyadatar Indian startup ke paas munafe ka koi rasta nahi tha. Wo discount aur ads par paisa jala rahe the taaki aise user mile jinki koi loyalty nahi. Swiggy aur Zomato har order par nuksan kar rahe the. Flipkart quick commerce me khoon baha raha tha. Edtech companies asli education se zyada marketing par kharch kar rahi thi. Business model bas itna tha, investor ka paisa jalao, discount se user lao, zyada valuation par aur paisa uthao, dohrayo. Ye business nahi hai, ye bubble hai. Aur bubble hamesha foote hain. Sarkar Startup India manati rehti hai lekin tikau ecosystem banane ke liye asal me kya kiya? Zyadatar tax chhoot aur photo ops. Startup governance par koi asli niti nahi, companies fail hone par employees ke liye koi suraksha nahi, zimmedar fundraising ke liye koi dhancha nahi. Natija? Hazaron naukriyan katin. Jo yuva stock options aur utsaah ke liye startup me gaye the wo wapas sthir corporate naukri dhoondh rahe hain. Unke ESOPs kuch bhi nahi hain. Unke resume me gaps hain. Aur founders? Kai bas agle hype par chale gaye. AI naya buzzword hai. Wahi investors jo food delivery ko fund karte the ab AI startups ko usi growth at all cost mentality se fund kar rahe hain. Wahi pattern, wahi inevitable crash. Jo baat koi nahi karta wo ye hai. 39 billion asli value nahi bana rahe the. Wo FOMO par aadharit phooli hui valuation bana rahe the. Asli arthvyavastha, chhote business, manufacturing sector, jo log asal me cheezein banate hain, unhe is boom se kuch nahi mila. Sarkar ne startup manaye jabki un sectors ko andekha kiya jo asal me logo ko naukri dete hain. Kya poora boom sirf hungama tha ya uske neeche kuch asli tha jo lalach me dab gaya?