A few weeks ago, one of the top investment firms in the world, Sequoia, published an open letter calling the coronavirus outbreak 'The Black Swan of 2020'. Sequoia warned that while the virus may be contained after "several quarters", it could take "even longer for the global economy to recover its footing".
In fact, investors and entrepreneurs are calling this the worst economic crisis the world has seen since the great recession.
In the last couple of months, the coronavirus pandemic has sent the global economy into a tizzy and India is no exception. Startups across sectors are now facing the heat, unleashed by the pandemic. From fundraising to holding on to customer and employees, supply line management, businesses are struggling to cope with the economic fallout of this global health crisis.
Startups in sectors like travel, hospitality, restaurant, the gig economy, e-commerce, etc. are now scrambling to save their businesses from a complete collapse.
While companies in Ed-tech, SAAS, video conferencing, gaming and content streaming are witnessing a surge in activity, the writing on the wall is clear, businesses need to prepare for more pain than gain in the coming year.
In an interview to CNBC-TV18, Sanjay Nath, co-founder and managing partner of Blume Ventures, Shanti Mohan, co-founder and CEO of LetsVenture, Padmaja Ruparel, co-founder of Indian Angel Network, and Vaibhav Agrawal, partner at Lightspeed discussed the impact of COVID-19 crisis as well as the road ahead for various startups, businesses and the economy.
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