Byju’s founder says his edtech startup, once worth $22B, is now ‘worth zero

Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, overestimated growth potential, and that his startup, once valued at $22 billion, is now effectively worth “zero.”

Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two dozen startups to expand into new markets proved fatal when financing dried up in 2022. Byju’s was planning to go public in early 2022 with several investment bankers giving the firm valuation as high as $50 billion, TechCrunch reported earlier.

He alleged that many of his more than 100 investors had urged him to pursue aggressive expansion into as many as 40 markets. But, he added, those very investors got cold feet when global markets tumbled following Russia’s invasion of Ukraine, sending the venture capital market into a downward spiral.

Raveendran said many of his investors “ran away,” and the departure of three key backers — Prosus Ventures, Peak XV, and Chan Zuckerberg Initiative — from the company’s board last year made it impossible for the startup to raise additional funds.

Representatives of the aforementioned three firms as well as auditor Deloitte left the startup’s board last year, citing governance issues.

Byju’s has since entered insolvency proceedings, and Raveendran, who no longer controls the company, said: “It’s worth zero. What valuation are you talking about? It’s worth zero.”

Byju’s, once India’s most valuable startup, counts BlackRock, UBS, Lightspeed, QIA, Bond, Silver Lake, Sofina, Verlinvest, Tencent, Canada Pension Plan Investment Board, General Atlantic, Tiger Global, Owl Ventures, and World Bank’s IFC among its backers. It has raised more than $5 billion to date.

Raveendran said he remains hopeful that his startup will make a comeback. “I have nothing to lose. I came from a small village. I invested everything I had into the startup.”

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Many years ago, while in primary school, I remember having to complete an experiment on soil. I think the subject was called Environmental Studies and I had to present a project to show how soil worked.

We were told to get a jar, go into the garden, and get sand, pebbles, stones, and small rocks. We then had to put all these ingredients into a jar.

At first, I tried to put the sand in first then the pebbles, and then the stones. Unfortunately, I could not get the small rocks in – there just wasn’t any space!

With my mother’s help, and after following the instructions, I tried the experiment again, this time getting the order right: I needed to get the big rocks in first, followed by the stones, then the pebbles, and finally the sand. By following this order, everything fitted in and the fine sand easily flowed between the pebbles and rocks. The experiment worked and I also learned a little about soil that day…

“Fools think their own way is right, but the wise listen to others.” (Proverbs 12:15)

This illustration is also a great money management principle. When you look at your budget, you often have it filled with a bunch of small items, and then when you try and fit the bigger (more important) items in – it just doesn’t fit.

“Do your planning and prepare your fields before building your house.” (Proverbs 24:27)

It is important to get our financial priorities into our budget first. We first need to put “the rocks” into our budget: important elements like first giving to God, followed by our savings and investments. The truth is if these “rocks” are not put in first, they just won’t fit in. We also need to include our other “rocks” like our bond or rent payments and living expenses. Only once these “rocks” are in our budget, should we start adding the “pebbles”, our nice-to-haves, and the “sand” items, which are the luxuries.

You need to get your priorities in the right order. I want to encourage you to get the ROCKS into your budget first. These rocks will help you build towards a more secure future and will lead to a brighter tomorrow.

By the way, one thing I learned from the soil experiment is that by having the rocks in first, followed by the stones, then pebbles and sand, is that this soil composition leads to healthy fertile ground, with good drainage that really helps plants to flourish and thrive.

If you get the rocks in your budget first, with your priorities in the right order, just maybe you will set your finances up to be fruitful and flourishing over the next 10 years.

“The Lord will greatly bless his people. Wherever they plant seed, bountiful crops will spring up.” (Isaiah 32:2

MORNING TEA
THURSDAY 17 OCTOBER 2024

*FREEDOM*

TODAY'S SCRIPTURE

*“Then you will know the truth, and the truth will set you free.”*
*(John 8:32, NIV)*

TODAY'S WORD

Abraham left his home at the call of God, with the promise of His great blessing. But in his journeys in *Genesis 12 and 20*, he lied to Pharaoh and later to King Abimelek that his beautiful wife, Sarah, was his sister, because he feared they would kill him so they could have her. When the truth came out, Abraham was shamed by them. In *Genesis 26*, many years later, Abraham’s son Isaac committed the same cowardly act with his wife, Rebekah. *Notice how that same negative trait was being passed down.*

It’s the same way today. It can be a spirit of low self-esteem. Everyone in your family feels unworthy, not good enough, inferior. Or maybe it’s a spirit of mediocrity. No one in your family thinks they can get ahead. *Do yourself a favour and get rid of that spirit. You’re made in the image of God.* You have royal blood flowing through your veins. Start expecting to rise higher. Start declaring God’s promises over your life. *Break that negative cycle and set your family on a new course of freedom.*

PRAYER FOR TODAY

*“Father, thank You that You have made me in Your image and that I am Your child. Thank You that Jesus has redeemed me and set me free from sin and guilt and negative traits that have been passed down to me. I declare that the forces for me are greater than the forces against me. In Jesus’ Name,
Amen.”* 🙏🏽

Courtesy: Joel Osteen Ministries

What are the Different Digital Media Channels?

Digital media channels are the various platforms through which digital content is delivered and consumed. These channels have increased over the past few decades, each serving different purposes and audiences:

Websites and Blogs: These are foundational to digital presence, offering a mix of text, images, and videos tailored to broad and niche audiences.
Social Media Platforms: Sites like Facebook, Twitter, Instagram, and LinkedIn facilitate social interaction and content sharing, from short text posts to live videos.
Email: Email is used for direct communication, marketing, and newsletters, and it remains a powerful tool for personal and commercial interaction.
Podcasts: Audio programs available for download and streaming, podcasts have surged in popularity. They offer content on an array of topics.
Video Platforms: YouTube and Vimeo are leaders here, hosting user-generated and professional videos accessible to global audiences.
Mobile Apps: From games to personalised services, mobile apps offer interactive experiences designed for smartphones and tablets.
Virtual and Augmented Reality: These technologies create immersive experiences that blend digital elements with the real world. They are increasingly used for education, training, and entertainment.
Digital Billboards and Signage: These offer dynamic advertising opportunities on LED and LCD screens in public spaces and transit networks.
Streaming Services: Platforms like Netflix and Amazon Prime Video have revolutionised how movies and TV shows are consumed, allowing streaming on-demand.
E-books and Digital Magazines: These digital versions of traditional print publications offer convenience and enhanced usability with features like keyword searches and hyperlinks.
Each channel has transformed how content is distributed and consumed, making digital media an integral part of everyday life

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Nature and Life

https://choppinglife.com/watch/beware-a-evil-woman-sent-by-satan-will-be-marked-by_8KAKd1ewrZQmeGr.html
Educative and inspiring



https://choppinglife.com/watch..../beware-a-evil-woman

*STRIKING STATEMENTS 🔥 FROM THE ALTAR BY GOD'S SERVANT; BISHOP DAVID OYEDEPO*

13TH OCTOBER, 2024.

COVENANT DAY OF BREAKING INVISIBLE BARRIERS & MONTHLY COMMUNION SERVICE @ FAITH TABERNACLE CANAANLAND, OTA.

*ENGAGING THE WONDERS OF PRAISE (Part 2A)*

1) Praise never returns defeated from battle. It's part of the whole armor of God we should put on.

2) Whatever can't beat God, can't beat a praising believer.
- Isa. 54:1-3

3) You can sing your way out of the valley to the mountain top.

4) Praise is a salient and powerful weapon of war any time, any day.

5) Your giving will be meaningless without a merry and praiseful heart.
- Deut. 28:47-48

6) When your giving is out of what He has given you, you have nothing to brag about.

7) Almost everything goes out of order when you stop praising God.

8) We stand to lose a battle without praise.

9) No prayer without thanksgiving qualifies for answers. - Phil. 4:6

1 Without the deep revelation of thanksgiving and praise we are limited in all areas of life

11) It takes a violent praise to provoke the fearful intervention of God.
- Acts. 16:26-31

12) High praise silences your enemies and your avengers.
- Matt. 21:15-16, Psa. 8:2

13) Praise brings you into contact with fresh oil which silences your enemies.
- Psa. 92:1-2, 10-11

14) Invisible barriers are real; if you don't believe they are real, you become a victim.
- Ps. 91:6, Luke 10:19

15) To clears the invisible barriers of your path, keep walking in the light of the Word.
- 1 Thess. 5:5, Eph. 5:8

16) Keep following His leading, because when God leads; barriers clears on their own accord. - Psa. 24:7, Acts. 12:10

17) God doesn't lead the "Jack and Harry", He only lead those who are committed to follow Him. - Isa. 48:17

18) Keep speaking boldly upon every barriers on your path. What you can't declare boldly, God can't confirm openly.

19)With closed mouth you end up a victim.
- Isa. 53:7, Jn. 18:8

2 Engage in a lifestyle of praise to secure God's divine presence that clears off every barriers on your path.

#breakinginvisiblebarriers
#lfcliveservice
#fortune2024

Elon Musk has been promising that Tesla's robotaxis will soon arrive — for over a decade.

"I know I'm the boy who cried [Full Self Driving]," Musk said on Tesla's second-quarter 2023 earnings call in July 2023. "But man, I think we'll be better than human by the end of this year."

At the "We, Robot" event on Thursday at 7 p.m. PT, Musk is expected to showcase a Tesla robotaxi, or a car that can drive itself without human supervision, for the first time. There's a lot riding on the event — investors have high expectations and want to see the robotaxis in action.


Wedbush Securities analyst Dan Ives told CNN that "We, Robot" could be for Tesla what the iPhone was for Apple; it could be "one of the most important events" held by the company, Ives stated.


Tesla will likely display a "Cybercab" robotaxi prototype designed especially for an autonomous EV fleet. In August 2022, Musk described a full self-driving system that combines Airbnb and Uber. Just like Airbnb hosts rent out their properties, Tesla owners could rent out their cars when they're not using them. The self-driving cars then operate on a ride-sharing platform like Uber for anyone to access.


With any self-driving announcement it makes on Thursday, Tesla will have to show that it can compete with existing robotaxi companies, like Alphabet-owned Waymo, which made 50,000 paid trips per week as of May with its driverless fleet.

The bar is also high for fully autonomous vehicles. Tesla states on its website that "full autonomy" requires "reliability far in excess of human drivers" through "billions of miles of experience" and "regulatory approval."


Tesla's most recent earnings report released earlier this month showed its best numbers all year with 462,890 deliveries, indicating that demand is up for its EVs. Musk stated in April that new, more affordable Tesla EVs were on the way by "early 2025 if not late this year."

Tesla has two driving features currently available with the purchase of a new car: Autopilot, which autosteers and matches traffic speed and comes with all new Teslas, and Full Self-Driving (Supervised), which helps the car change lanes, park, and stop at traffic lights for $99 per month or $8,000 for a one-time purchase.

The National Highway Traffic Safety Administration (NHTSA) investigated Autopilot and found that it was involved in at least 13 crashes with at least one death. The Autopilot name may mislead drivers into believing that the system is more autonomous than it is, the agency stated. #robotaxi