These founders diversify their funds even before making a profit.
It feels like, they likely know that their product is never going to make a profit. To keep the investors happy and continue to be the public figure and own the authority, they continue to do their existing business(ola) and show some spark(bounce electric).
But side by side, they start teams that invest in things that can likely become their other profitable business.
When I talked to someone from ola(quite an internal and unpopular team), I got to know that they are investing in this for the last 1.5 years. They are testing products and trying to become a product market fit.
What did we get to know here?
- Even the top entrepreneurs having bad big businesses like ola, likely knowing that it will never be profitable and taking action to diversify
- To continue to keep investors and hold the authority in media and people, they continue to do the same old business
- They try to do AB tests with other opportunities and gain the opportunity.
- Ola (doing marketing products with tech, email marketing tools and etc)
- Unacademy (Building a tech product) to help businesses create and avail “ready-to-use dev environment to employees” (for dev and test). They also played a design game which makes people believe that the company is old enough and the can be trusted with the product.
Looks like easy-to-build products, they probably are, at least in the case of unacademy. Looks like it does solve the problem of allocating dev resources and computing to employees and can make decent money. PMs don’t like to code or spend time in allocating dev resources from the cloud for sure.