Aman Gupta, co-founder of boAt and a familiar face from Shark Tank India, has weighed in on the BluSmart controversy, calling it a cautionary tale for startups chasing growth at any cost.
Taking to X (formerly Twitter), Gupta didn’t hold back. He spoke candidly about the fallout from BluSmart’s financial irregularities, pointing out how such lapses don’t just affect founders—they ripple out to investors, employees, and customers too.
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“Investors lost their money, founders lost precious years, employees lost stability, and customers lost a service they truly relied on,” he wrote. The impact, he added, goes beyond one company’s collapse. Scandals like this shake faith in India’s startup ecosystem, making it harder for everyone to raise funds or build trust with users.
Gupta also touched on values that seem to be getting lost in the race for scale. Quoting a lesson from his childhood, he said, “Bachpan mein jo parents ne sikhaya tha, woh kabhi na bhulo—jo bhi karo, dil se karo. Par galat na karo.” (Never forget what your parents taught you—whatever you do, do it with heart, but never do wrong.)
His message was clear: ethics and accountability aren’t optional add-ons—they’re the foundation. From clean books and timely audits to honest communication, he urged fellow founders to treat governance as seriously as product-market fit or growth metrics.
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In a space that often celebrates speed and hustle, Gupta’s post felt like a reality check—and a reminder that shortcuts in business rarely end well.
