Indian startup scene in its most depressed cycle: no layoffs, no explosions, everything sideways

vaibhavbetter · x · 2026-09-30

A founder argues this is probably the most depressive cycle for Indian startups in a while: no mass layoffs like 2023-24, no mania like 2021-22, and little compounding — everything feels sideways. Friends leaving newly listed startups find nothing exciting to join or start, despite the boom on tech feeds. He notes nobody wants to voice the doom, but it's on everyone's mind; companies founded in this era will likely be built on a different foundation.

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