00:00As a customer, I'm disappointed because it was a really good service.
00:03Good cars, good drivers, on time, clean, polite.
00:09You know, so very disappointed as a customer.
00:12The business has to be viable and corporate governance has to be good for a company to sustain.
00:18And it's extremely disappointing that that did not happen.
00:20While it is a setback for the startup ecosystem,
00:24we must understand that there are 1.6 lakh registered startups in India,
00:28which means unregistered Malakay, there are 7-8 lakh startups.
00:32So some incidents will happen.
00:34There will be some bad actors.
00:35But for the most part, 95%, 98% of startup founders are honest.
00:40Most important thing are the drivers.
00:41They don't have social security.
00:43They are not well off.
00:45And maybe 15,000 to 20,000 drivers, approximately, I believe,
00:49are suddenly out of a job in Delhi, NCR.
00:52That's a tragedy.
00:53To the startup founders, I'll say keep at it.
00:55Work hard, work honestly, work diligently, service your customers, follow the law of land.
01:01It'll be okay.
01:02How do you see this overall absurd of Chainsaw and Blue Shutdown of the Blue Smart Company?
01:09As a customer, I'm disappointed because it was a really good service.
01:13Good cars, good drivers, on time, clean, polite.
01:17You know, so very disappointed in the customer.
01:22But obviously, the business has to be viable, and corporate governance has to be good for a company to sustain.
01:29And it's extremely disappointing that that did not happen.
01:33The SEBI report has been taken seriously.
01:35It was done after proper investigation.
01:37And while it is a setback for the startup ecosystem, we must understand that there are 1.6 lakh registered startups in India,
01:49which means unregistered Malakia, there are 7-8 lakh startups.
01:52So, some incidents will happen.
01:55There will be some bad actors.
01:56But for the most part, 95%, 98% of startup founders are honest.
02:01And we meet 1,000 startups a quarter.
02:03And I can say for certain, from personal experience, that almost all startup founders are honest.
02:09If they are bad actors, they have to be dealt with.
02:11And I think it's a confidence-building thing, that SEBI and NSE, there are regulators who are vigilant, who take action.
02:19It actually keeps up the confidence in the system.
02:23Mr. What do you feel about the investor who has invested huge money, and about the drivers and the employees of the company?
02:29I think the most important thing are the drivers.
02:32They don't have social security.
02:33They are not well off.
02:35You know, and maybe 15,000 to 20,000 drivers, approximately, I believe, are suddenly out of a job in Delhi, NCR.
02:43That's a tragedy.
02:45And investors, of course, it's tragic for them.
02:48It is a setback.
02:49But investors are institutions and high net worth individuals, and they are not as badly off as the drivers.
02:55And, sir, what would be your advice to the startups of India, because they are also in a fix after this failure?
03:09I think, to the startup founders, I'll say keep at it.
03:14Work hard.
03:15Work honestly.
03:16Work diligently.
03:17Service your customers.
03:18Follow the law of land.
03:20It'll be okay.
03:21We'll be okay.
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