The real tech companies are out there solving actual problems, not reselling used cars. The next time you hear about a start-up claiming to be a tech company and selling used cars, just remember how ridiculous it all sounds. Their real competition is the traditional showrooms of used cars, both run by individuals and established companies, who have been running and profitable for years. So, don't be fooled by their marketing tactics.

Not to mention, the founders were not psychologically prepared to handle a large amount of money, causing the company's finances to spiral out of control.Īnd for those of you who may be fooled by the unicorn status one of these used car startups, let me remind you that not a single one of them has proven to be profitable. The reason? Over hiring and over spending, of course! This company thought it was a good idea to pay their QA worker a whopping Rp50 million a month. Take the recent case of one used car tech startup wannabe, which just laid off 50% of its workforce (around hundred peoples), announced on 5 minutes townhall meeting, despite receiving a $95 million funding not too long ago.

But don't be fooled by the hype! These companies are nothing but a bunch of jokers trying to make a quick buck by riding the tech startup trend. It seems like every other day, there's a new used car startup popping up claiming to be a tech company, with fancy algorithms and a sleek app to disrupt the traditional car industry. Startup of Silly: The Foolish Business Model of Used Cars Pretending to be Tech Startups

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