This Entrepreneur is Going Through Major Existential Crisis
and some business update
You’ve made it halfway through - it's time to keep pushing forward. So, like every other day, we are back with some business updates, and today, we will share an interesting take on Vinay Hiremath’s ‘suffering from success’ phase.
But first, let’s get started with the BUSINESS UPDATES…
📌 Zomato enters the 15-minute food delivery race
Zomato has entered the quick food delivery segment, rolling out a 15-minute service on its app to rival platforms like Swiggy’s Bolt and Ola Dash. The feature, live but unannounced, highlights quick-to-prepare meals from restaurants within a 2-kilometer radius.
This move follows Zomato-owned Blinkit’s launch of Bistro, a quick commerce venture targeting health-conscious consumers. Meanwhile, competitors like Swiggy, Ola, and Zepto are also expanding their ultra-fast delivery offerings, with Swiggy Bolt already contributing 5% of its food orders.
📌 Another version of ‘Pushpa 2’ is coming!
Allu Arjun's blockbuster ‘Pushpa 2: The Rule’ has seen a significant decline in box office collections, earning Rs 2.25 crore on Day 34. Despite this slowdown, the film remains a massive success, with a cumulative global gross of Rs 1,831 crore and an Indian net collection of Rs 1,210.95 crore. It is inching closer to surpassing Aamir Khan's Dangal (Rs 2,024 crore) as one of the highest-grossing Indian films ever.
To boost earnings, the makers have announced a "reloaded version" with 20 minutes of additional footage, released on January 11, coinciding with director Sukumar’s birthday.
📌 Ola Electric Mobility shares dropped 5% today
This happened after SEBI issued an administrative warning for regulatory violations regarding the timely dissemination of material information. SEBI noted that promoter and Chairman Bhavish Aggarwal announced critical information on X (formerly Twitter) at 9:58 AM on December 2, hours before the company informed stock exchanges at 1:36 PM (BSE) and 1:41 PM (NSE). This breach violated SEBI’s LODR regulations, requiring material information to be disclosed first to stock exchanges within 12 hours.
Now, let’s talk about Vinay Hiremath
Vinay Hiremath, the co-founder of Loom, sold his startup to Atlassian for a whopping $975 million in 2023. Sounds like a dream, right? But here’s the twist - he’s now wondering what to do with his life.
In his blog post titled “I am rich and have no idea what to do with my life,” Vinay opened up about feeling lost and unmotivated. He admitted that life feels like a never-ending side quest and not the fun kind. Despite having financial freedom, he’s struggling to figure out what’s next.
Vinay’s journey is pretty inspiring. He dropped out of the University of Illinois after two years, had a short stint at Facebook, and worked at a couple of startups before co-founding Loom in 2015. For those who don’t know, Loom is a video messaging platform used by millions of people and companies worldwide. Fast forward to 2023, Atlassian bought Loom, and now Vinay has more money than he probably knows what to do with.
These days, he’s dabbling in investing and enjoys cold plunges, sauna therapy, boxing, lifting weights, and meeting new people.
But what’s this feeling?
The feeling Vinay Hiremath is experiencing can be described as "post-achievement letdown" or "existential vacuum" in therapeutic terms. It's a form of existential crisis that often follows the fulfillment of a long-term goal or significant life milestone, leading to feelings of emptiness, confusion, or lack of direction.
Why is this happening to him?
Dr. Irvin Yalom, a renowned existential psychotherapist, discusses this phenomenon in his book "Existential Psychotherapy." He explains that achieving significant milestones often unearths deeper questions about the meaning of life.
Vinay mentions he no longer has the base desire to make money or gain status, which indicates that his previous external motivators have dissolved, leaving a gap in purpose.
This crisis, while unsettling, often leads individuals to reevaluate their values and create a richer, more meaningful life.
He can get over this by engaging in mentoring, philanthropy, or activities that contribute to others' lives. This can provide a purpose beyond personal success.
So, that’s it from me today!
See ya 👋
