Lightspeed's Khare: founding got cheaper, scaling got brutal as India VC bench thins from 26 to 4
Dev Khare contrasts $5M-to-$100 startup costs and an 80% tech-founder cohort with a consolidating VC field, pointing to Physics Wallah's 8-crore, ₹50/month organic model as the durable counter to Byju's high-CAC collapse across Lightspeed's commerce and consumer-media book.
Lightspeed's Dev Khare maps India VC evolution, citing portfolio bets across commerce (Zepto, Snabbit), consumer media (Physics Wallah, ShareChat, Pocket FM) and nation-building (Sarvam), contrasting PW's organic ₹50/month model with Byju's collapsed high-CAC playbook.