Many have asked why Unacademy is cutting expenses which:
- it shouldn’t have had in the first place, or
- are largely symbolic, and
- miniscule in monetary terms
In today's edition of The Nutgraf, I write about why frugality is much harder than it sounds.
- it shouldn’t have had in the first place, or
- are largely symbolic, and
- miniscule in monetary terms
In today's edition of The Nutgraf, I write about why frugality is much harder than it sounds.
When it's time to cut costs, there's a standard playbook.
-Marketing costs, especially brand marketing
-Downsize the talent acquisition teams
-Execute layoffs on employees working in non-core verticals burning money
-Reduce R&D and kill moonshot projects
-Freeze new hiring
-Marketing costs, especially brand marketing
-Downsize the talent acquisition teams
-Execute layoffs on employees working in non-core verticals burning money
-Reduce R&D and kill moonshot projects
-Freeze new hiring
However, the problem arises when you need to cut costs on a sustained basis.
And this is where bigger companies like Unacademy find themselves at a disadvantage.
Hence frugality as a core value.
And this is where bigger companies like Unacademy find themselves at a disadvantage.
Hence frugality as a core value.
But this is much harder than it looks.
And the best example of a company that has cracked it over decades is Amazon.
They even have an award for it internally, which employees proudly put on their LinkedIn profiles.
You can't create it overnight.
And the best example of a company that has cracked it over decades is Amazon.
They even have an award for it internally, which employees proudly put on their LinkedIn profiles.
You can't create it overnight.
Then there's Unacademy, and to understand the priorities of their company and CEO, I recommend this stunning story written by @followthemani and @chandrarsrikant about Gaurav Munjal's method of working and his priorities.
moneycontrol.com
moneycontrol.com
To understand why companies like Unacademy are trying to create a culture of frugality, and why they are unlikely to succeed, you can read my newsletter (for free!) here.
the-ken.com
the-ken.com
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