Lack of VC funding reflects a reset in the Indian tech scene

More: Carsome hits quarterly positive EBITDA for the first time. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [Why VCs are holding off investing in Indian companies for now]( - The Singapore-based AI platform that makes the tech easy to use for laypeople - Other newsy highlights such as Carsome hitting positive EBITDA for the first time --------------------------------------------------------------- Hello {NAME} I once asked an ex-colleague what his dream job or career path was. His reply? “I want to be a CEO.” That felt extremely wrongheaded to me, especially since he didn’t have an answer when I asked what kind of company he wanted to found or lead. This was like the career version of form over function - it sounded like he just wanted the glamor and prestige that comes with the title without thinking about how he could help others or solve problems. I think that acting without a sound motivation or intention in place only leads to pointless pivot after pointless pivot, causing harm to others along the way. Just think about all the companies that expanded furiously just because funding was cheap and easy to get and have had to conduct layoffs in the last couple of years. It is downright irresponsible. This may explain both the recent reticence of VCs to invest in Indian companies as well as a potential bounceback in the coming years as more firms focus on achieving profitability and sustainability. Check out today’s premium article for the details. I guess money eventually talks - I just wish it would reply faster instead of only thinking up the right response hours after the party, in the shower. -- Winston  ---------------------------------------------------------------  THE BIG STORY [India’s companies thrive on public markets, but VCs are holding back]( Cautious VCs, vigilant LPs, and concerns of potential down rounds among startups have dampened investor sentiment in India’s flourishing market. --------------------------------------------------------------- TRENDING NEWS [Carsome hits first EBITDA positive quarter in Q1 2024]( The used-car marketplace didn’t disclose hard numbers, but partly attributed the development to a “significant” improvement in gross profit per unit. 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