deponti to the world

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The Nano graveyard....
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deponti
We went on a nature/birding walk to Kalena Agrahara today, and skirted the lake at IDBI Bank Layout. I was amazed to see several Nano cars parked, and rusting in the monsoon weather.

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There must have been about sixty of the cars, parked all around.

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At a conservative estimate of Rs.2 lakhs per car, that's Rs. 80 lakhs just wasting away.

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I finally found this banner, saying that these cars apparently belong to this rental initiative:



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The problem in our country seems to be, not lack of good initiatives, but keeping up with them. I have tried to call this number to find out why so many cars are rusting...and could not get through. I will try again on Monday (which should be a working day.)  But meanwhile...would it not have been better to just donate these cars rather than let such an investment waste away in this fashion?

"Oh...this is a new AirBnB effort!" said my friend Rekha-Ram Lakshmanan, from St.Louis, when he saw the cars. "No," I riposted, "This is CarBnB!"

What a sad state of affairs. Can anyone throw any more light on this failed initiative?

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Sadly, this is a fairly good reflection of how most startups end up; they get an idea that seems halfway plausible, and they try and dress it up and see if they can get some VC money for their idea. Most VCs are more vigilant these days, but if the pitch was slick, more than one might have been willing to invest. What follows is typically mismanagement of funds, and in many cases, a devil-may-care attitude, as the entrepreneurs would have sunk in very little of their own money, and they'd be more than willing to write away their time.

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