Its the story that pretty much sums up India. Big promises, big talk, underdeliver, and scam job. Those tech startups were setup for the purpose of scamming investors of their money. They come up with a tech-based business plan, one of the easier types of business to setup, but very difficult to sustain. Indians, (I'm mostly referring to those mid-upper class, typically guys) are masters at selling any dream. Those startup founders bamboozled and charmed Western investors who have their very own anti-China agenda. It was an easy dream to sell: setup any Indian rivals to the Chinese corporate giants. When the game is up, then we see what is happening in that WSJ article. The business (not the 'entrepreneur') is called into question, and then it collapses. Those 'entrepreneurs' have already pocketed their money. You might think that they would be in trouble. But no, not in India. The government is part of the same game. They'll get their bribes and cuts to look away. After things cool down, those 'entrepreneurs' are back to setting up new startups and pitching for investments.Kinda weird that India tech is still thrash considering they been a main source of western it outsourcing since the 90s
This tech startup scam job is not exclusive to India. But in India, it is much more culturally acceptable to scam and cheat than on any other place on earth. While scammers in other countries tend to hide their identities, and start running and hiding when they sense some incoming heat. Indian scammers are totally unapologetic. They'll fight you even when they're exposed. They'll call the cops on scam victims who come looking for them. They have been known to use lawfare and paid thugs on people who exposed them, and on any vengeful victims. They laugh at the victims that they scammed. Sounds like what criminal billionaires do? Well in India, even the low level scammers do this. Those who have listened to stories of Indian scam jobs, or have been scammed by Indians would have heard of all this.
India jumped on what it thinks is a massive opportunity, the West vs China Cold War. And while India is at it, why not fleece the gullible Westerners? The West is so easy to scam by the Indians. India has been chosen by them to be their 'Asian Champion', their very own pseudo 'China' to take down the dreaded real China. The more the West hedges on India, the deeper they are getting scammed. I look forward to the day that the West runs out of money for the Indians to scam. India has no loyalty or principles, it'll turn on the West and move on to scam the BRICS. While the West hates to be betrayed. Then we shall see how they turn on each other.
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