Global investors, burned by overvalued SPACs in the US, started asking hard questions about Indian tech IPOs. They brought the "TINA" (There Is No Alternative) factor home. When US tech corrected, Indian tech couldn't justify its premiums.
The 2021 promotional campaign focused on the tagline: "Hero ki kahaani sab jaante hai.. par villain ki?" (Everyone knows the hero's story, but what about the villain's?). Unlike the 2014 film, which featured a clear protagonist seeking revenge against a serial killer, the sequel was marketed as a , blurring the lines of morality. Musical Legacy Ek Villain Index 2021
While the official "funding winter" started in 2022, its seeds were sown in the Ek Villain Index of December 2021. Investors stopped asking "What is your TAM (Total Addressable Market)?" and started asking "When do you break even?" Global investors, burned by overvalued SPACs in the