Sameer Guglani reflects on the decision made in 2013-2014 to wind down Indian startup accelerator Morpheus.
Opinion
Guglani: Late-stage funded startups become miserable, dark workplaces obsessed with growth
“From a very happy and light workplace, which is creating magic, it started transitioning into a unhappy, miserable, little, but dark workplaces where there was a lot of focus on growth and valuation without really caring about what was happening to the humans …”
Insight
Guglani: Startups founded purely for popularity or external validation never go far
“If the reason is an external achievement that I wish to achieve popularity, validation, or certain financial outcome for myself, or I need to prove something in the world. No, that will never go too far.”
Insight
Guglani: Founders who prioritize rushing outcomes do not build enduring successes
“In fact, honestly, what I've seen is all the high speed ones, which have been about with they don't go places.”
Insight
Guglani: Competition is for mediocrity, because genuine excellence has no competition
“Competition is for mediocrity. Excellence has no competition. So if you are, if you truly understand the nature of business, basically you know that excellence is very rare. It's very hard to achieve. And if you can achieve excellence, you will be anywhere abo…”
Assertion Not checkable as stated
Guglani: All Morpheus Fund 1 investors profited and still hold equity
“All of them who invested in our first fund actually made a, have already made a decent amount of money and there is still equity left in that.”
Assertion Not checkable as stated
Guglani: Vijay Shekhar Sharma was the first check in Morpheus's third fund
“Vijay Shekhar Sharma, the first guy to give us a check. Rajan was there, Rajan and then Bloom, India Push and Ganesh, all of our LPs, previous ones, they repeated, they brought their friends.”