If this was a crime thriller we’d say OYO is using the pandemic to hide bodies. Except this is a story of a desperate startup that drank too much of its own Kool-Aid.
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It is becoming increasingly clear that the startup ecosystem is stuck with building for the top 3% of Indian society. Now consumption in even this rarefied segment is under pressure.
Minus any drama, Airbnb’s India business seems to be chugging along well. But with several competitors lining up, the stage is set for an interesting face-off.
On the subjects of unmarried couples not being welcome at OYO and how exactly Ritesh Agarwal is buying up shares of his own company.