Startup Layoffs: Is the Worst Yet To Come?

Prime Minister Narendra Modi said last week that India has the third largest startup ecosystem in the world, and that they are turning out to be a powerful vehicle to fulfil the dreams of the common Indian youth. Yet, at the same time, news of startups like Cars24, Vedantu, Unacademy and Meesho laying off hundreds of employees contradicts the picture of exponential growth. Is it time to sound the bugle on an impending funding crisis for startups? Is the shine coming off this ecosystem?