Post
Topic
Board India
Merits 1 from 1 user
Re: V. G. Siddhartha - CCD founder Dead - Could Crypto have saved him?
by
amicrypto
on 03/08/2019, 07:27:46 UTC
⭐ Merited by amishmanish (1)
However, I too feel that the topic doesn't belong here. I would have been better if posted in Off-topic (India)

It is good to know that posts (in the local board) will not be counted. But the question remains that why is a Hero member (who is supposed to be quite knowledgeable) asking such a stupid question?
Either, he does not understand how the real world works or is blindly trying to bring cryptocurrency into everything that he reads about.

As far as the death of VGS is concerned it is quite sad and shocking to hear. But he was pursuing a business model that was going to crack. A few years back, I (and my friends) had planned to kick start a mobile gourmet coffee chain in India. After extensive research on the coffee market, we were not able to justify the unit economics involved in the coffee business. And this was sans the huge fixed cost that Cafe coffee day incurs. So, the business model was never going to sustain the way he expanded the entire network. Some outlets might have turned profitable but a majority of them were loss-making units and this was confirmed by their ground staff. He did this on money raised by debt and the backing of his family wealth. Also, he was involved in money laundering activities. The thing with raising PE funds and debt is that you come under a huge obligation to make a profit to these firms (the clauses are made such). He could not pay off the money and hence decided to end his life.

The entire story is very saddening and I hope that we have mental health and wellness introduced in our school curriculums at a very early stage. Our society is such that we only praise success and loath failure. It is the success at any cost mantra that leads to such events.